Friday 6 November 2026
Export XYL’s income statement to Excel — free account
Xylem Inc.
XYL Industrials Specialty Industrial Machinery
Xylem Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.0 billion, up 5.52% from fiscal 2024.
- Revenue
- −2.95%
- EPS
- +33.1%
- Free cash flow
- −16.5%
- Total debt
- +47.6%
Quarter to September 2026, against a year earlier
99.81
1.24
−1.23%
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Target Price Range
Analyst price targets
Free accountTen 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 | 3,771 | 4,707 | 5,207 | 5,249 | 4,876 | 5,195 | 5,522 | 7,364 | 8,562 | 9,035 | 9,059 | +10.2% | 8,949 | 9,308 | 9,820 | +2.8% | |
| Gross margin, % | 38.77 | 39.24 | 38.91 | 38.98 | 37.53 | 38.02 | 37.74 | 36.90 | 37.51 | 38.46 | 39.79 | (0.3) pt | ||||||
| EBT | 340 | 466 | 585 | 416 | 285 | 511 | 440 | 635 | 1,087 | 1,181 | 1,341 | +14.8% | ||||||
| EBT margin, % | 9.02 | 9.90 | 11.23 | 7.93 | 5.84 | 9.84 | 7.97 | 8.62 | 12.70 | 13.07 | 14.80 | +4.1 pt | ||||||
| Net income | 260 | 330 | 549 | 401 | 254 | 427 | 355 | 609 | 890 | 950 | 1,071 | +15.5% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 21.06 | 26.21 | 28.96 | 29.16 | 27.07 | 28.83 | 30.64 | 33.94 | 35.29 | 37.12 | 38.93 | +6.5% | |||||
| Earnings | 1.45 | 1.83 | 3.05 | 2.21 | 1.40 | 2.35 | 1.97 | 2.79 | 3.67 | 3.93 | 4.51 | +11.7% | ||||||
| Cash flow | 2.78 | 3.82 | 3.26 | 4.66 | 4.58 | 2.99 | 3.31 | 3.86 | 5.21 | 5.10 | 5.47 | +7.0% | ||||||
| Capex | (0.69) | (0.94) | (1.32) | (1.26) | (1.02) | (1.14) | (1.13) | (1.24) | (1.31) | (1.29) | (1.45) | +7.3% | ||||||
| Free cash flow | 2.09 | 2.88 | 1.94 | 3.41 | 3.56 | 1.85 | 2.18 | 2.61 | 3.90 | 3.81 | 4.02 | +6.9% | ||||||
| Book value | 12.32 | 14.03 | 15.47 | 16.48 | 16.52 | 17.90 | 19.44 | 46.89 | 43.89 | 47.21 | 44.14 | +16.1% | ||||||
| Shares, m | 179 | 180 | 180 | 180 | 180 | 180 | 180 | 217 | 243 | 243 | 239 | +3.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 34.24 | 36.99 | 21.88 | 35.49 | 72.71 | 50.60 | 56.51 | 41.64 | 31.70 | 34.74 | 22.14 | 41.6 | |||||
| P/S | 2.36 | 2.60 | 2.30 | 2.70 | 3.76 | 4.16 | 3.61 | 3.72 | 3.29 | 3.67 | 2.56 | 3.2 | ||||||
| P/B | 4.03 | 4.85 | 4.31 | 4.78 | 6.16 | 6.70 | 5.70 | 2.69 | 2.64 | 2.88 | 2.26 | 4.5 | ||||||
| EV/Sales | 2.90 | 3.00 | 2.69 | 3.01 | 4.01 | 4.38 | 3.80 | 3.90 | 3.39 | 3.72 | 2.81 | 3.5 | ||||||
| EV/FCF | 29.28 | 27.29 | 40.14 | 25.73 | 30.49 | 68.38 | 53.48 | 50.59 | 30.70 | 36.26 | 27.18 | 39.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 497 | 686 | 586 | 839 | 824 | 538 | 596 | 837 | 1,263 | 1,241 | 1,272 | +10.7% | |||||
| Capex | (123) | (169) | (237) | (226) | (183) | (205) | (204) | (270) | (317) | (314) | (337) | +11.0% | ||||||
| Free cash flow | 374 | 517 | 349 | 613 | 641 | 333 | 392 | 567 | 946 | 927 | 935 | +10.6% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 601 | 971 | 705 | 949 | 1,567 | 1,769 | 1,422 | 1,679 | 1,762 | 1,785 | 1,110 | +12.9% | |||||
| Net debt | 2,060 | 1,786 | 2,012 | 1,592 | 1,209 | 1,160 | 1,005 | 1,265 | 895 | 463 | 2,187 | (15.3%) | ||||||
| Shareholders’ equity | 2,207 | 2,519 | 2,782 | 2,967 | 2,976 | 3,226 | 3,503 | 10,176 | 10,647 | 11,491 | 10,272 | +20.1% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 4.67 | 4.96 | 7.80 | 5.37 | 3.09 | 5.02 | 4.38 | 5.06 | 5.46 | 5.61 | 6.25 | +0.9 pt | |||||
| ROIC | 5.98 | 8.01 | 8.53 | 6.66 | 5.48 | 8.34 | 8.62 | 3.56 | 5.46 | 6.39 | 6.88 | +0.4 pt | ||||||
| ROE | 12.12 | 14.01 | 20.71 | 13.95 | 8.55 | 13.77 | 10.55 | 8.90 | 8.55 | 8.65 | 10.07 | (3.5) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 16,000 | 16,200 | 17,000 | 16,300 | 16,700 | 17,300 | 17,800 | 2,300 | 23,000 | 22,000 | — | +3.6% | |||||
| Revenue/emp, $m | 0.24 | 0.29 | 0.31 | 0.32 | 0.29 | 0.30 | 0.31 | 3.20 | 0.37 | 0.41 | — | +6.4% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Water Infrastructure | 2,636 | 29.18% |
|---|---|---|
| Water Solutions and Services | 2,464 | 27.27% |
| Measurement and Control Solutions | 2,086 | 23.09% |
| Applied Water | 1,849 | 20.46% |
| Gross margin | 38.46% | |
| Operating margin | 13.54% | |
| Pre-tax margin | 13.07% |
Xylem 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 |
|---|---|---|---|---|---|---|---|---|---|
| IR Ingersoll Rand Inc. | $31.4B | 22.9× | 32.9× | +5.62% (above 0%: growing) | +180.65% (above 0%: growing) | +91.49% (above 0%: growing) | 44.76% | 37.90% | Compare |
| OTIS Otis Worldwide Corporation | $30.3B | 19.6× | 18.9× | +6.07% (above 0%: growing) | +16.47% (above 0%: growing) | −11.54% (below 0%: shrinking) | 29.51% | 15.84% | Compare |
| DOV Dover Corporation | $26.9B | 23.5× | 22.9× | +7.51% (above 0%: growing) | +12.73% (above 0%: growing) | +3.58% (above 0%: growing) | 40.44% | 18.77% | Compare |
| XYL Xylem Inc. | $22.9B | 22.1× | 21.3× | −2.95% (below 0%: shrinking) | +33.08% (above 0%: growing) | −16.49% (below 0%: shrinking) | 41.21% | 17.49% | |
| SYM Symbotic Inc. | $21.2B | 354× | 220× | +21.74% (above 0%: growing) | n/m | +22.12% (above 0%: growing) | 22.32% | 4.56% | Compare |
| ITT ITT Inc. | $17.5B | 40.5× | 43.4× | +44.19% (above 0%: growing) | −15.34% (below 0%: shrinking) | +93.91% (above 0%: growing) | 0.00% | 0.00% | Compare |
| NDSN Nordson Corporation | $17.3B | 31.3× | 31.5× | +10.27% (above 0%: growing) | +22.87% (above 0%: growing) | +4.57% (above 0%: growing) | 55.49% | 27.28% | Compare |
| IEX IDEX Corporation | $16.4B | 30.8× | 31.3× | +8.31% (above 0%: growing) | +14.94% (above 0%: growing) | +13.57% (above 0%: growing) | 45.13% | 21.86% | Compare |
| 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 |
| Median of peers | $19.4B | 31.0× | 31.4× | +9.29% | +14.94% | +9.07% | 41.06% | 18.70% |
From the latest earnings call
- CFO Andrea Vanderberg said metering purchases and large projects were converting to revenue more slowly, even as quarterly orders and backlog increased.
- CEO Matthew Pine announced plans to divest Applied Water International and Specialty Flow Control and reorganize Xylem into three segments beginning in 2027.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
91.40%
Held by the ten largest
44.15%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 30.60m | 13.11% | −450.40k |
| BlackRock | 25.04m | 10.72% | −615.92k |
| State Street | 11.44m | 4.90% | +270.97k |
| Geode Capital Management | 6.35m | 2.72% | −61.72k |
| UBS | 5.71m | 2.44% | +798.29k |
| Amundi | 5.11m | 2.19% | −123.63k |
| Invesco | 5.10m | 2.19% | +1.32m |
| BNY | 4.67m | 2.00% | +3.49m |
| Royal Bank of Canada | 4.61m | 1.97% | −158.07k |
| Impax Asset Management Group plc | 4.47m | 1.91% | −116.56k |
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 30 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 11.29m | 13.70m | 149.00 |
| 2024 | 10.58m | 9.47m | 119.00 |
| 2023 | 10.83m | 9.67m | 116.00 |
| 2022 | 10.15m | 7.16m | 111.00 |
| 2021 | 10.44m | 13.34m | 119.00 |
Ownership
Directors and executive officers, together
less than 1%
100 Vanguard Boulevard
11.50%
50 Hudson Yards
10.00%
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.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Xylem Inc. (XYL) Latest News
28 Oct
27 Oct
26 Oct
8 Oct
26 Sep
19 Aug
XYL metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Xylem is a global water technology company founded in 2011 and headquartered in Washington, D.C. Matthew Pine is President and Chief Executive Officer. It designs, manufactures and services engineered equipment, digital tools and services used across the water cycle.
Its offerings help customers move water from sources, treat drinking water, measure its use, collect and test wastewater, treat wastewater, and return it to the environment. The company also supplies equipment and services for water-related work beyond municipal utilities, including buildings, industrial sites, farms, mines, power plants and commercial customers.