Select Water Solutions, Inc.
WTTR Energy Oil & Gas Equipment & Services
Select Water Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, down 3.08% from fiscal 2024. In the quarter to June 2026, revenue grew 8.67%, EPS grew 70.0%, free cash flow grew 57.0% and total debt fell 4.15%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
Follow WTTR
Select Water Solutions, Inc. (WTTR) Altman Z-score
Select Water Solutions, Inc.'s Altman Z-score for fiscal 2025 is 1.99, in the grey zone (1.81–2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.99 | (1.17) |
| FY2024 | 3.16 | 0.09 |
| FY2023 | 3.08 | 0.09 |
| FY2022 | 2.99 | 1.13 |
| FY2021 | 1.86 | 1.33 |
| FY2020 | 0.53 | (3.21) |
| FY2019 | 3.74 | 0.61 |
| FY2018 | 3.12 | (0.21) |
| FY2017 | 3.33 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.08 | — | 0.10 | |
| Retained earnings / total assets | (0.12) | — | −0.16 | |
| EBIT / total assets | 0.02 | — | 0.06 | |
| Market value of equity / total liabilities | 1.86 | — | 1.11 | |
| Sales / total assets | 0.88 | — | 0.88 | |
| Altman Z-score | Grey zone | 1.99 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.73 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| INVX Innovex International, Inc. compare | 6.3× |
| LBRT Liberty Energy Inc. compare | 2.9× |
| EFXT Enerflex Ltd. compare | 2.2× |
| XPRO Expro Group Holdings N.V. compare | 2.1× |
| NESR National Energy Services Reunited compare | 2.0× |
| WTTR Select Water Solutions, Inc. | 2.0× |
| FLOC Flowco Holdings Inc. compare | 1.2× |
| WBI WaterBridge Infrastructure LLC compare | 0.5× |
| NEXT NextDecade Corporation compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets