Zurn Elkay Water Solutions Cor
ZWS Industrials Pollution & Treatment Controls
In the quarter to June 2026, revenue grew 10.5%, EPS grew 126.7%, free cash flow grew 56.9% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.
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Zurn Elkay Water Solutions Cor (ZWS) Altman Z-score
Zurn Elkay Water Solutions Cor's Altman Z-score for fiscal 2025 is 5.00, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 5.00 | 0.89 |
| FY2024 | 4.11 | 0.83 |
| FY2023 | 3.28 | 1.54 |
| FY2022 | 1.74 | (1.21) |
| FY2022 | 2.94 | 0.33 |
| FY2021 | 2.62 | 0.70 |
| FY2021 | 1.91 | 1.00 |
| FY2020 | 0.91 | (0.63) |
| FY2019 | 1.54 | 0.15 |
| FY2018 | 1.39 | 0.20 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.21 | — | 0.25 | |
| Retained earnings / total assets | (0.42) | — | −0.59 | |
| EBIT / total assets | 0.10 | — | 0.34 | |
| Market value of equity / total liabilities | 7.29 | — | 4.37 | |
| Sales / total assets | 0.63 | — | 0.63 | |
| Altman Z-score | Safe zone | 5.00 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.24 | ||
Z and Z″ put Zurn Elkay Water Solutions Cor in different zones: safe zone by Z, grey zone by Z″.
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 |
|---|---|
| ZONE Zone Frontier Inc. compare | 74.5× |
| ADUR Aduro Clean Technologies Inc. compare | 22.4× |
| ERII Energy Recovery, Inc. compare | 19.7× |
| VLTO Veralto Corporation compare | 5.0× |
| ZWS Zurn Elkay Water Solutions Cor | 5.0× |
| CECO CECO Environmental Corp. compare | 3.7× |
| FTEK Fuel Tech, Inc. compare | 1.3× |
| ARQ Arq, Inc. compare | 1.2× |
| PCT PureCycle Technologies, Inc. compare | −0.1× |
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