Flowserve vs Hubbell
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The short version
- Hubbell is the larger business, with $5.8B of revenue in fiscal 2025 against $4.7B for Flowserve.
- Hubbell kept more of each dollar of sales as operating profit (20.7% operating margin, against 8.5%).
- Hubbell turned more of its sales into free cash flow (15.0% FCF margin, against 9.2%).
- Hubbell earned a higher return on the capital invested in it (18.7%, against 9.4%).
- Investors pay more for each dollar of Hubbell’s earnings: a P/E of 26.5x against 23.8x for Flowserve.
| Latest fiscal year | FLS · FY25 | HUBB · FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.8B | $23.9B |
| Revenue | $4.7B | $5.8B |
| Free cash flow | $435M | $875M |
| Net income | $346M | $887M |
| Growth | ||
| Revenue growth | 3.8% | 3.8% |
| 5-year growth | 4.9% | 9.7% |
| Share count change | −1.0% | −0.9% |
| Profitability | ||
| Gross margin | 33.4% | 35.3% |
| Operating margin | 8.5% | 20.7% |
| Net margin | 7.3% | 15.2% |
| FCF margin | 9.2% | 15.0% |
| Return on capital | 9.4% | 18.7% |
| Return on equity | 16.5% | 24.5% |
| Balance sheet | ||
| Net debt | $845M | $1.8B |
| Net debt / EBITDA | 1.7x | 1.3x |
| Dividends and buybacks | $365M | $225M |
| Valuation & quality | ||
| P/E | 23.8x | 26.5x |
| Piotroski F-score | 8 | 7 |
Revenue
FY16
FLS $4.0B
HUBB $3.5B
FY17
FLS $3.7B
HUBB $3.7B
FY18
FLS $3.8B
HUBB $4.5B
FY19
FLS $3.9B
HUBB $3.9B
FY20
FLS $3.7B
HUBB $3.7B
FY21
FLS $3.5B
HUBB $4.2B
FY22
FLS $3.6B
HUBB $4.9B
FY23
FLS $4.3B
HUBB $5.4B
FY24
FLS $4.6B
HUBB $5.6B
FY25
FLS $4.7B
HUBB $5.8B
FLS
HUBB
Operating margin
FY16
FLS 6.9%
HUBB 14.0%
FY17
FLS 9.3%
HUBB 14.1%
FY18
FLS 5.9%
HUBB 12.4%
FY19
FLS 9.8%
HUBB 13.4%
FY20
FLS 6.7%
HUBB 13.4%
FY21
FLS 7.7%
HUBB 12.7%
FY22
FLS 5.5%
HUBB 14.3%
FY23
FLS 7.7%
HUBB 19.1%
FY24
FLS 10.1%
HUBB 19.4%
FY25
FLS 8.5%
HUBB 20.7%
FLS
HUBB
Free cash flow
FY16
FLS $151M
HUBB $344M
FY17
FLS $249M
HUBB $299M
FY18
FLS $107M
HUBB $421M
FY19
FLS $248M
HUBB $505M
FY20
FLS $253M
HUBB $565M
FY21
FLS $195M
HUBB $424M
FY22
FLS −$116M
HUBB $507M
FY23
FLS $258M
HUBB $715M
FY24
FLS $344M
HUBB $811M
FY25
FLS $435M
HUBB $875M
FLS
HUBB
Return on capital
FY16
FLS 6.1%
HUBB 16.2%
FY17
FLS 6.4%
HUBB 13.1%
FY18
FLS 6.4%
HUBB 15.2%
FY19
FLS 11.9%
HUBB 12.2%
FY20
FLS 7.1%
HUBB 11.6%
FY21
FLS 11.0%
HUBB 12.7%
FY22
FLS 7.6%
HUBB 16.6%
FY23
FLS 11.3%
HUBB 19.9%
FY24
FLS 12.9%
HUBB 18.3%
FY25
FLS 9.4%
HUBB 18.7%
FLS
HUBB
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.