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Flowserve Corporation

FLS Industrials Specialty Industrial Machinery

Flowserve Corporation’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, up 3.76% from fiscal 2024.

Revenue: +5.39%
EPS: −52.1%
Free cash flow: −67.1%
Total debt: +38.8%

Quarter to September 2026, against a year earlier

78.29 2.89 −3.56%

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Market cap: $9.9B
P/E: 39.1×
Fwd P/E: 22.9×
Dividend yield: 1.11%
F-score: 8/9
Altman Z: 4.01
Beneish M: −2.59
Dividend safety: 78/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Flowserve Corporation (FLS) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
FPD	3,230	68.30%
FCD	1,499	31.70%
Gross margin		33.44%
Operating margin		8.46%
Pre-tax margin		11.11%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Aftermarket	2,510 53.07%	2,340 51.34%	2,234 51.70%	1,909 52.79%	1,837 51.87%	1,828 49.02%	1,978 50.20%	1,897 49.45%	1,785 48.76%	1,796 45.00%
Original Equipment	2,220 46.93%	2,218 48.66%	2,087 48.30%	1,707 47.21%	1,704 48.13%	1,900 50.98%	1,962 49.80%	1,939 50.55%	1,876 51.24%	2,195 55.00%
Revenue	4,729	4,558	4,321	3,615	3,541	3,728	3,940	3,836	3,661	3,990

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2010	FY2009
FPD	3,230 68.30%	3,154 69.20%	3,061 70.85%	2,518 69.65%	2,468 69.70%	2,674 71.72%	2,704 68.65%	2,620 68.32%	2,478 67.68%	—	—	—
FCD	1,499 31.70%	1,404 30.80%	1,260 29.15%	1,097 30.35%	1,073 30.30%	1,054 28.28%	1,235 31.35%	1,215 31.68%	1,183 32.32%	—	—	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	0 0.00%	0 0.00%
Engineered Product Division	—	—	—	—	—	—	—	—	—	1,963 49.19%	2,087 51.76%	2,249 51.53%
FCD	—	—	—	—	—	—	—	—	—	1,227 30.76%	1,190 29.52%	1,197 27.41%
Industrial Product Division	—	—	—	—	—	—	—	—	—	800 20.05%	755 18.72%	919 21.06%
Operating segments [member]	—	—	—	—	—	—	—	—	3,661	3,990	—	—
Reportable Segment [Member] (Deprecated 2013-01-31)	—	—	—	—	—	—	—	—	—	—	4,032	4,365
Revenue	4,729	4,558	4,321	3,615	3,541	3,728	3,940	3,836	3,661	3,990	4,032	4,365

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2010	FY2009
FPD	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
FCD	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
FCD	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Engineered Product Division	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Industrial Product Division	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2010	FY2009
UNITED STATES	1,965 41.55%	1,824 40.01%	1,822 42.16%	1,537 42.51%	1,377 38.88%	1,464 39.26%	1,633 41.44%	1,529 39.86%	1,461 39.91%	1,538 38.54%	1,332 33.03%	1,417 32.45%
EMA	1,617 34.19%	1,583 34.74%	1,504 34.80%	1,210 33.48%	1,270 35.87%	1,385 37.16%	1,397 35.47%	1,424 37.14%	1,435 39.19%	1,542 38.64%	1,844 45.74%	2,142 49.08%
Asia	723 15.28%	677 14.85%	585 13.53%	525 14.52%	557 15.74%	535 14.36%	552 14.01%	540 14.08%	471 12.87%	500 12.54%	—	—
Other	424 8.97%	474 10.40%	410 9.50%	343 9.48%	337 9.51%	344 9.22%	358 9.09%	342 8.93%	294 8.04%	410 10.28%	432 10.73%	401 9.18%
Also reported: a second breakdown of the same revenue
North America	1,997 42.23%	1,842 40.42%	1,821 42.14%	1,533 42.40%	1,345 37.98%	1,469 39.40%	1,628 41.32%	1,579 41.17%	1,447 39.52%	1,602 40.16%	—	—
Middle East And Africa	836 17.67%	766 16.80%	685 15.84%	473 13.09%	419 11.82%	470 12.61%	455 11.55%	468 12.19%	483 13.19%	548 13.74%	—	—
Europe	834 17.63%	834 18.29%	772 17.88%	668 18.48%	720 20.32%	763 20.48%	810 20.56%	764 19.91%	845 23.08%	840 21.05%	—	—
Asia Pacific	745 15.76%	790 17.32%	740 17.12%	695 19.21%	816 23.05%	808 21.67%	816 20.71%	784 20.43%	684 18.69%	712 17.85%	423 10.50%	405 9.29%
Latin America	317 6.71%	326 7.16%	303 7.02%	246 6.82%	242 6.83%	218 5.85%	231 5.87%	242 6.30%	202 5.52%	288 7.21%	—	—
Revenue	4,729	4,558	4,321	3,615	3,541	3,728	3,940	3,836	3,661	3,990	4,032	4,365

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Aftermarket bookings	Q3 FY2026	$727.7M	$653.1M	+11.42%
Backlog	Q3 FY2026	$3.5B	$2.9B	+19.88%
Flow Control Division backlog	Q3 FY2026	$1.1B	$896.4M	+23.27%
Flow Control Division bookings	Q3 FY2026	$446.2M	$396.1M	+12.65%
Flow Control Division organic bookings	Q3 FY2026	0.80%	—	—
Flowserve Pumps Division backlog	Q3 FY2026	$2.4B	$2.0B	+18.46%
Flowserve Pumps Division bookings	Q3 FY2026	$940.1M	$819.5M	+14.72%
Flowserve Pumps Division organic bookings	Q3 FY2026	10.9%	—	—
Original equipment bookings	Q3 FY2026	$655.8M	$559.9M	+17.13%
Remaining performance obligations	Q3 FY2026	$1.2B	$994.0M	+22.03%
Total bookings	Q3 FY2026	$1.4B	$1.2B	+14.06%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q3 FY2018	Q2 FY2018	Q1 FY2018
Aftermarket bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flow Control Division backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flow Control Division bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flow Control Division organic bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flowserve Pumps Division backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flowserve Pumps Division bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Flowserve Pumps Division organic bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Original equipment bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total bookings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.