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Watts Water Technologies, Inc.

WTS Industrials Specialty Industrial Machinery

Watts Water Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, up 8.27% from fiscal 2024.

Revenue
+19.0%
EPS
+77.1%
Free cash flow
+18.9%
Total debt
−50.3%

Quarter to September 2026, against a year earlier

346.88 6.42 −1.82%
Market cap
$11.6B
P/E
26.0×
Fwd P/E
28.0×
Dividend yield
0.66%
F-score
7/9
Altman Z
8.88
Beneish M
−2.44
Dividend safety
100/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Total Segments
  • APMEA

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 13.13
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 3 3 — 2 — — — 2 — —
Insider Ownership 19.04%

Capital & Financial Ratios $m

Size
Market Cap 11,600.00
Revenue ttm 2,793.60
Net income ttm 447.00
Free cash flow ttm 370.40
Net debt Q (346.60)
Valuation
P/E 26.00
Forward P/E 28.00
Price / sales 4.16
Forward P/S Powerpack
Price / FCF 31.65
Price / book 5.01
Financial health
Current ratio Q 2.80 (at or above 1.5: strong)
Debt / equity Q 0.04 (at or below 0.5: strong)
Interest coverage Q 95.40
Growth
Revenue growth Q +19.01% (above 0%: growing)
Operating income growth Q +71.27% (above 0%: growing)
EPS, this year +23.43% (at or above 15%: strong)
EPS, next year A +9.10%
Revenue, next year A +15.97% (at or above 10%: strong)
EPS, past 5 yrs +24.79% (at or above 15%: strong)
EPS, next 5 yrs A +13.86%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.1×, against a ten-year median of 2.6×; over the ten years it ranged from 1.4× in 2016 to 4.8× in 2026.
P/E against its own 10 years 52.04%
10-year low 10-year high
P/S against its own 10 years 95.12%
10-year low 10-year high
P/B against its own 10 years 91.16%
10-year low 10-year high
EV/Sales against its own 10 years 94.32%
10-year low 10-year high
EV/FCF against its own 10 years 77.74%
10-year low 10-year high

Dividends raised every year since 2017

Yield
0.66%
Annual rate
2.30
Payout ratio
17.2%
Growth, 2017–25
+13.0%/yr
  1. 0.75 ’17
  2. 0.82 ’18 +9
  3. 0.90 ’19 +10
  4. 0.92 ’20 +2
  5. 1.01 ’21 +10
  6. 1.16 ’22 +15
  7. 1.38 ’23 +19
  8. 1.65 ’24 +20
  9. 1.99 ’25 +21
  10. 2.41 ’26e +21
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 350 387 406 445
Receivables 260 253 294 399
Inventory 399 392 524 577
Other — — — —
1,061 1,084 1,286 1,482
2023 2024 2025 Q'26
Payables 132 148 182 181
ST’ Debt — — — —
Other — — — —
406 418 512 529

Compound Annual Growth %

10y 5y 3y
Sales 5.21% 10.08% 7.20%
Cash Flow 13.90% 11.93% 21.52%
Earnings 0.00% 24.42% 10.66%
Book Value 11.14% 13.64% 15.95%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 3.34 Actual 3.66

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 2.29 2.50 Beat by 0.21
Q4 FY25 2.36 2.62 Beat by 0.26
Q1 FY26 2.72 3.04 Beat by 0.32
Q2 FY26 3.34 3.66 Beat by 0.32
Q3 FY26 3.15 — Reports 4 November 2026

EPS $

Mar Jun Sep Dec Year
’26 2.97 3.53 4.34 — —
’25 2.21 3.01 2.45 2.50 10.17
’24 2.17 2.44 2.06 2.02 8.69
’23 1.93 2.26 1.96 1.67 7.82
’22 1.61 2.07 1.75 2.05 7.48
’21 1.23 1.11 1.37 1.18 4.88
’20 0.94 0.59 0.97 0.86 3.36
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 677 763 728 — —
’25 558 644 612 625 2,439
’24 571 597 544 540 2,252
’23 472 533 504 548 2,056
’22 463 527 488 502 1,980
’21 413 467 455 474 1,809
’20 383 339 384 403 1,509
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 18 103 158 — —
’25 55 70 122 155 402
’24 46 85 91 140 361
’23 33 67 100 110 311
’22 (2) 47 41 138 224
’21 34 39 62 46 181
’20 (1) 48 80 101 229
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 7 92 132 — —
’25 46 60 111 140 356
’24 37 83 85 128 332
’23 28 61 93 99 281
’22 (8) 40 34 134 201
’21 32 33 55 39 159
’20 (8) 33 70 92 187
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 12.2% a year for ten years. It grew 16.0% a year over the last ten.

Implied
12.2%
10 years, reported
16.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,398 1,457 1,565 1,601 1,509 1,809 1,980 2,056 2,252 2,439 2,794 +6.4% 2,828 2,990 3,150 +8.9%
Gross margin, % 40.45 41.35 41.95 42.33 41.46 42.40 44.17 46.73 47.15 49.46 50.49 +9.0 pt
EBT 128 143 175 184 167 234 308 350 386 446 590 +14.9%
EBT margin, % 9.14 9.82 11.16 11.49 11.07 12.94 15.54 17.00 17.14 18.28 21.13 +9.1 pt
Net income 84 73 128 132 114 166 252 262 291 341 447 +16.8%
Per share, $
Per share, $ Revenue 40.65 42.35 45.62 46.94 44.50 53.53 59.09 61.57 67.23 72.79 83.39 +6.7%
Earnings 2.45 2.12 3.64 3.86 3.37 4.90 7.51 7.85 8.70 10.17 13.34 +17.1%
Cash flow 4.01 4.53 4.94 5.69 6.75 5.35 6.69 9.31 10.78 12.00 12.94 +12.9%
Capex (0.76) (0.80) (1.00) (0.85) (1.23) (0.64) (0.68) (0.89) (0.88) (1.36) (1.89) +6.8%
Free cash flow 3.26 3.74 3.94 4.84 5.52 4.71 6.00 8.42 9.90 10.64 11.06 +14.0%
Book value 21.40 24.10 25.99 28.68 31.56 34.71 38.82 45.31 50.98 60.53 69.24 +12.2%
Shares, m 34 34 34 34 34 34 34 33 34 34 34 (0.3%)
Valuation, ×
Valuation, × P/E 26.97 35.85 17.73 25.84 36.11 39.55 19.39 26.05 23.37 27.14 26.00 27.8
P/S 1.62 1.79 1.41 2.13 2.73 3.63 2.46 3.32 3.02 3.79 4.16 2.6
P/B 3.07 3.15 2.48 3.48 3.86 5.59 3.75 4.51 3.99 4.56 5.01 3.8
EV/Sales 1.84 1.94 1.51 2.18 2.78 3.62 2.42 3.34 2.98 3.74 4.07 2.6
EV/FCF 22.98 21.78 17.83 21.59 22.76 41.96 24.24 24.68 20.41 25.83 30.93 24.4
Cash, $m
Cash, $m Operating cash flow 138 156 169 194 229 181 224 311 361 402 434 +12.6%
Capex (26) (27) (34) (29) (42) (22) (23) (30) (29) (46) (63) +6.5%
Free cash flow 112 129 135 165 187 159 201 281 332 356 370 +13.7%
Balance, $m
Balance, $m Working capital 394 456 373 316 397 453 572 655 666 774 954 +7.8%
Net debt 312 217 149 90 (21) (100) (163) (52) (190) (208) (347) n/m
Shareholders’ equity 736 829 891 978 1,070 1,173 1,301 1,513 1,708 2,028 2,319 +11.9%
Returns, %
Returns, % ROA 4.88 4.18 7.55 7.79 6.60 9.22 13.28 12.36 12.37 12.91 15.41 +8.0 pt
ROIC 8.64 9.70 11.32 11.54 10.79 13.95 17.31 15.01 16.07 15.39 18.74 +6.8 pt
ROE 11.68 9.34 14.88 14.07 11.16 14.77 20.33 18.63 18.08 18.25 20.91 +6.6 pt
People
People Employees 4,800 4,800 4,800 4,800 4,465 4,597 4,600 5,100 4,800 5,700 — +1.9%
Revenue/emp, $m 0.29 0.30 0.33 0.33 0.34 0.39 0.43 0.40 0.47 0.43 — +4.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Watts Water Technologies makes products that control, protect and conserve water and manage the flow of fluids and energy through buildings. Its customers include plumbing and heating distributors, equipment manufacturers, specialty distributors and retail chains. Those customers serve commercial, industrial and residential users. Robert J. Pagano, Jr. is president, chief executive officer and board chair.

The company’s products include valves that regulate water pressure and temperature, prevent contaminated water from flowing backward and detect leaks. Some connected products can send alerts to a building management system or a personal device and shut off the water supply. Watts also sells boilers, water heaters, heating systems, drainage products and water filtration equipment.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Total Segments 2,575 105.61%
APMEA 140 5.76%
Gross margin 49.46%
Operating margin 18.38%
Pre-tax margin 18.28%

Revenue by segment since 2009

Watts Water Technologies, Inc. vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WTS Watts Water Technologies, Inc. $11.6B 26.0× 28.0× +19.01% (above 0%: growing) +77.14% (above 0%: growing) +18.94% (above 0%: growing) 55.08% 26.21%
CR Crane Company $11.4B 33.5× 31.3× +28.07% (above 0%: growing) +7.91% (above 0%: growing) −0.43% (below 0%: shrinking) 41.69% 18.63% Compare
PNR Pentair plc $11.1B 18.4× 17.5× −4.46% (below 0%: shrinking) −19.55% (below 0%: shrinking) −14.65% (below 0%: shrinking) 40.48% 20.06% Compare
GGG Graco Inc. $10.9B 21.5× 21.7× +7.92% (above 0%: growing) −9.64% (below 0%: shrinking) −16.87% (below 0%: shrinking) 50.52% 25.26% Compare
RRX Regal Rexnord Corporation $10.7B 46.2× 27.7× +6.08% (above 0%: growing) n/m +11.74% (above 0%: growing) 37.17% 5.13% Compare
GNRC Generac Holdings Inc. $10.2B 33.7× 25.5× +16.19% (above 0%: growing) +63.16% (above 0%: growing) +36.49% (above 0%: growing) 39.86% 12.40% Compare
INIO INNIO N.V. $10.0B 0.0× 51.4× +57.25% (above 0%: growing) +176.28% (above 0%: growing) +8.09% (above 0%: growing) 31.48% 16.58% Compare
FLS Flowserve Corporation $9.9B 39.1× 22.9× +5.39% (above 0%: growing) −52.07% (below 0%: shrinking) −67.06% (below 0%: shrinking) 33.48% 12.97% Compare
DCI Donaldson Company, Inc. $9.6B 21.3× 19.3× +7.96% (above 0%: growing) +13.27% (above 0%: growing) +23.80% (above 0%: growing) 36.26% 16.68% Compare
Median of peers $10.4B 27.5× 24.2× +7.94% +7.91% +3.83% 38.52% 16.63%

All 79 Specialty Industrial Machinery stocks →

From the latest earnings call

Updated

  • CEO Robert Pagano said data center demand and pricing helped drive third-quarter growth, while product rationalization reduced sales in the Americas and Europe.
  • Pagano said data center backlog was up and visibility had improved, while CFO Diane McClure raised the company’s full-year sales and margin outlook.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 79.40%
Held by the ten largest 38.33%
Holder Shares Stake Change
Vanguard 2.95m 8.85% −171.42k
BlackRock 2.82m 8.45% −853.65k
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 1.98m 5.94% −143.23k
Boston Partners 997.50k 2.99% +241.60k
State Street 852.51k 2.55% −138.63k
Geode Capital Management 767.58k 2.30% −151.35k
T. Rowe Price 673.23k 2.02% −195.52k
Capital Group 659.01k 1.97% +659.01k
First Trust 545.53k 1.63% +949.00
Impax Asset Management Group plc 543.41k 1.63% −44.61k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 1 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 10.42m 20.44m 235.76
2024 9.05m 9.17m 172.28
2023 7.54m 17.12m 175.13
2022 7.08m 4.07m 121.97
2021 7.07m 25.11m 160.64
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Watts Water Technologies, Inc. (WTS) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

4 Nov

Impact 3 · · StockStory
Impact 3 · · Zacks
Impact 3 · · Business Wire

19 Oct

Impact 4 · · MarketBeat

13 Oct

Impact 3 · · Business Wire

9 Oct

Impact 3 · · StockStory
Impact 3 · · Insider Monkey

8 Oct

Impact 4 · · Insider Monkey

2 Oct

Impact 4 · · Zacks

1 Oct

Impact 3 · · Business Wire

29 Sep

Impact 3 ·

7 Sep

Impact 3 ·

13 Aug

Impact 3 ·

12 Aug

Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

9 Aug

Impact 3 · · MarketBeat

8 Aug

Impact 4 ·
Impact 3 ·

7 Aug

Impact 4 ·
Impact 4 ·
Impact 4 ·

6 Aug

Impact 4 ·
Impact 3 · · Moby transcript

5 Aug

Impact 4 ·
Impact 3 ·
Impact 3 ·

WTS metrics, ten years each

stockrow.com/WTS · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com