Skip to content
stoqly

Watts Water Technologies

WTS NYSE Building Products Financials FY2016–FY2025

Watts Water Technologies' revenue rose 8.3% to $2.4 billion in fiscal 2025. Its operating margin was 18.4%, up from 17.3% a year earlier. Free cash flow was $356 million, up 9.4%. It paid out $83 million in dividends and buybacks, 23% of free cash flow.

Last close · Oct 23, 2026

$358.73

0.5%
Value it Compare
Revenue Total sales reported in the income statement.
$2.4B
8.3% vs prior year
Operating margin Operating income as a share of revenue.
18.4%
1.1 pts
Net income Profit after all expenses, interest and tax.
$341M
17.0%
Free cash flow Cash from operations minus capital spending.
$356M
9.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
20.5%
0.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$12.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
31.3x
On $11.45 EPS (TTM)

What Watts Water Technologies does

No business description yet.

Legal name
WATTS WATER TECHNOLOGIES INC
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001104659-26-018541
0000795403

Revenue and margins

Watts Water Technologies had $2.4B of revenue in fiscal 2025, up 8.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 17.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $356M in fiscal 2025, 14.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Watts Water Technologies returned $82.9M to shareholders in fiscal 2025, 23% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Watts Water Technologies yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $205M and divides by 33.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 31.3x · peers 21.3x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Watts Water Technologies can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $242M$311M$350M$387M$406M
Debt incl. finance leases $145M$152M$301M$201M$200M
Net debt / EBITDA −0.3x−0.5x−0.1x−0.4x−0.4x
Debt / equity 0.1x0.1x0.2x0.1x0.1x
Interest coverage 38.0x45.0x42.8x26.6x41.5x
Current ratio 2.1x2.5x2.6x2.6x2.5x
Quick ratio 1.2x1.5x1.6x1.7x1.5x
Total assets $1.9B$1.9B$2.3B$2.4B$2.9B
Total liabilities $682M$630M$796M$689M$854M
Shareholders' equity $1.2B$1.3B$1.5B$1.7B$2.0B
Net debt (− = net cash) −$96.7M−$159M−$49.3M−$186M−$205M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$13.2M

7 insiders

Of sales under plans

9%

$1.1M

DateInsiderTradeSharesPriceValueFiling
Sep 4, 2026 Elie MelhemPresident- APAC, M. East, Afr. Sold 1,096 $359.55 $0.4M Form 4
Sep 1, 2026 Joseph T NoonanDirector Sold 3,650 $353.72 $1.3M Form 4
May 28, 2026 Michael J. DuboseDirector Sold 398 $309.63 $0.1M Form 4
May 13, 2026 Elie MelhemPresident- APAC, M. East, Afr. Sold 2,257 $301.00 $0.7M Form 4
Mar 19, 2026 Elie MelhemPresident- APAC, M. East, Afr. Sold plan 372 $292.13 $0.1M Form 4
Mar 18, 2026 Elie MelhemPresident- APAC, M. East, Afr. Sold plan 379 $300.03 $0.1M Form 4
Mar 17, 2026 Elie MelhemPresident- APAC, M. East, Afr. Sold plan 3,029 $303.05 $0.9M Form 4
Mar 12, 2026 Michael J. DuboseDirector Sold 332 $301.70 $0.1M Form 4
Feb 20, 2026 Timothy P Horne10% owner Sold 7,500 $330.04 $2.5M Form 4
Feb 19, 2026 Robert J Pagano JrPresident and CEO Sold 16,066 $327.31 $5.3M Form 4
Feb 17, 2026 Kenneth Robert LepageGeneral Counsel Sold 5,025 $321.08 $1.6M Form 4
Dec 17, 2025 Virginia A HalloranChief Accounting Officer Sold 605 $276.78 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✓ ✓
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✓
F-score 7 / 96 / 98 / 9
Accruals ratio −2.3%−3.0%−2.3%
Altman Z'' 6.267.136.92

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Watts Water Technologies WTS $12.0B 8.3% 18.4% 14.6% 20.5% 31.3x 8
Simpson Manufacturing SSD $7.6B 4.5% 19.6% 12.8% 17.5% 20.1x 8 Compare →
Louisiana-Pacific LPX $5.2B −7.9% 7.7% 3.4% 9.0% 94.6x 5 Compare →
Advanced Drainage Systems WMS $10.0B 5.0% 20.3% 18.7% 15.8% 22.5x 4 Compare →
A. O. Smith AOS $8.5B 0.3% 19.0% 14.3% 30.7% 17.1x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.4B $1.5B $1.6B $1.6B $1.5B $1.8B $2.0B $2.1B $2.3B $2.4B
Gross profit $566M $602M $657M $678M $625M $767M $874M $961M $1.1B $1.2B
Research and development $26.5M $29.0M $34.5M $39.6M $42.2M $45.6M $59.4M $67.1M $70.4M $73.5M
Operating income $145M $162M $188M $197M $181M $240M $315M $351M $390M $448M
Interest expense $22.6M $19.1M $16.3M $14.1M $13.3M $6.3M $7.0M $8.2M $14.7M $10.8M
Pretax income $128M $143M $175M $184M $167M $234M $308M $350M $386M $446M
Income tax $43.6M $70.0M $46.6M $52.4M $52.7M $68.4M $56.1M $87.4M $94.8M $105M
Net income $84.2M $73.1M $128M $132M $114M $166M $252M $262M $291M $341M
Diluted EPS $2.44 $2.12 $3.73 $3.85 $3.36 $4.88 $7.48 $7.82 $8.69 $10.17
Diluted shares 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B
Cash flow
Cash from operations $138M $156M $169M $194M $229M $181M $224M $311M $361M $402M
Capital expenditure $36.0M $29.4M $35.9M $29.2M $43.8M $26.7M $28.1M $29.7M $35.3M $45.7M
Free cash flow $102M $127M $134M $165M $185M $154M $196M $281M $326M $356M
Depreciation and amortization $51.2M $52.2M $48.5M $46.6M $46.5M $45.1M $39.7M $43.3M $54.4M $56.8M
Stock-based compensation $13.4M $13.9M $13.8M $17.8M $12.7M $22.9M $18.4M $20.2M $19.5M $21.2M
Acquisitions $88.0M $0.1M $1.7M $42.7M $15.2M $9.1M $0.0M $313M $96.3M $257M
Share buybacks $26.8M $18.2M $26.0M $19.5M $28.9M $16.0M $69.4M $16.0M $17.0M $16.0M
Dividends paid $24.5M $25.9M $28.3M $31.4M $31.4M $34.3M $39.5M $46.5M $55.5M $66.9M
Dividends and buybacks $51.3M $44.1M $54.3M $50.9M $60.3M $50.3M $109M $62.5M $72.5M $82.9M
Balance sheet
Cash and short-term investments $338M $280M $204M $220M $219M $242M $311M $350M $387M $406M
Total debt $654M $500M $355M $310M $200M $142M $148M $298M $197M $198M
Finance lease liabilities $0.0M $0.0M $0.0M $4.1M $4.6M $3.4M $4.6M $2.5M $4.3M $2.6M
Current assets $819M $784M $721M $735M $710M $862M $951M $1.1B $1.1B $1.3B
Current liabilities $426M $327M $349M $419M $313M $409M $379M $406M $418M $512M
Inventory $239M $259M $287M $270M $264M $371M $376M $399M $392M $524M
Property and equipment, net $190M $199M $202M $200M $212M $201M $197M $248M $255M $297M
Total assets $1.8B $1.7B $1.7B $1.7B $1.7B $1.9B $1.9B $2.3B $2.4B $2.9B
Total liabilities $1.0B $908M $762M $745M $668M $682M $630M $796M $689M $854M
Shareholders' equity $736M $829M $891M $978M $1.1B $1.2B $1.3B $1.5B $1.7B $2.0B
Margins
Gross margin 40.5% 41.4% 42.0% 42.3% 41.5% 42.4% 44.2% 46.7% 47.2% 49.5%
Operating margin 10.4% 11.1% 12.0% 12.3% 12.0% 13.2% 15.9% 17.1% 17.3% 18.4%
EBITDA margin 14.0% 14.7% 15.1% 15.2% 15.1% 15.7% 17.9% 19.2% 19.8% 20.7%
Net margin 6.0% 5.0% 8.2% 8.2% 7.6% 9.2% 12.7% 12.8% 12.9% 14.0%
FCF margin 7.3% 8.7% 8.5% 10.3% 12.3% 8.5% 9.9% 13.7% 14.5% 14.6%
Returns
Return on capital 9.4% 7.9% 13.2% 13.3% 11.7% 15.9% 23.2% 20.2% 19.7% 20.5%
Return on capital employed 10.6% 11.8% 13.9% 15.1% 13.3% 16.7% 21.0% 20.3% 20.1% 20.6%
Return on equity 11.7% 9.3% 14.9% 14.1% 11.2% 14.8% 20.3% 18.6% 18.1% 18.3%
Return on assets 4.9% 4.2% 7.6% 7.8% 6.6% 9.2% 13.3% 12.4% 12.4% 12.9%
Growth
Revenue growth −4.7% 4.2% 7.4% 2.3% −5.7% 19.9% 9.4% 3.9% 9.5% 8.3%
Net income growth — −13.2% 75.1% 2.7% −13.1% 45.0% 51.8% 4.2% 11.1% 17.0%
EPS growth — −13.1% 75.9% 3.2% −12.7% 45.2% 53.3% 4.6% 11.1% 17.0%
FCF growth 25.0% 23.9% 5.5% 23.5% 12.3% −16.7% 27.1% 43.5% 15.9% 9.4%
Share count change −1.2% −0.3% −0.3% −0.3% −0.6% −0.3% −0.9% −0.3% 0.0% 0.0%
Financial health
Net debt / EBITDA 1.6x 1.0x 0.6x 0.4x −0.1x −0.3x −0.5x −0.1x −0.4x −0.4x
Debt / equity 0.9x 0.6x 0.4x 0.3x 0.2x 0.1x 0.1x 0.2x 0.1x 0.1x
Interest coverage 6.4x 8.5x 11.6x 14.0x 13.6x 38.0x 45.0x 42.8x 26.6x 41.5x
Current ratio 1.9x 2.4x 2.1x 1.8x 2.3x 2.1x 2.5x 2.6x 2.6x 2.5x
Quick ratio 1.4x 1.6x 1.3x 1.1x 1.4x 1.2x 1.5x 1.6x 1.7x 1.5x
Capital allocation
Capex / revenue 2.6% 2.0% 2.3% 1.8% 2.9% 1.5% 1.4% 1.4% 1.6% 1.9%
Stock comp / revenue 1.0% 1.0% 0.9% 1.1% 0.8% 1.3% 0.9% 1.0% 0.9% 0.9%
Payouts / FCF 50.2% 34.9% 40.7% 30.9% 32.6% 32.6% 55.6% 22.2% 22.3% 23.3%
Quality scores
Piotroski F-score 7.0 7.0 8.0 8.0 6.0 8.0 8.0 7.0 6.0 8.0
Altman Z'' 3.4 4.0 4.3 4.3 4.9 5.4 6.6 6.3 7.1 6.9
Accruals ratio −3.1% −4.7% −2.4% −3.7% −6.6% −0.8% 1.5% −2.3% −3.0% −2.3%

Source: SEC EDGAR XBRL filings (CIK 0000795403). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

↑ ↓ to move · ↵ to open