Flowserve vs Timken
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The short version
- Flowserve is the larger business, with $4.7B of revenue in fiscal 2025 against $4.6B for Timken.
- Flowserve grew revenue faster (3.8%, against 0.2%).
- Timken kept more of each dollar of sales as operating profit (11.8% operating margin, against 8.5%).
- Flowserve earned a higher return on the capital invested in it (9.4%, against 8.6%).
- Investors pay more for each dollar of Timken’s earnings: a P/E of 29.6x against 23.8x for Flowserve.
| Latest fiscal year | FLS · FY25 | TKR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.8B | $7.7B |
| Revenue | $4.7B | $4.6B |
| Free cash flow | $435M | $406M |
| Net income | $346M | $288M |
| Growth | ||
| Revenue growth | 3.8% | 0.2% |
| 5-year growth | 4.9% | 5.5% |
| Share count change | −1.0% | −0.7% |
| Profitability | ||
| Gross margin | 33.4% | 30.4% |
| Operating margin | 8.5% | 11.8% |
| Net margin | 7.3% | 6.3% |
| FCF margin | 9.2% | 8.9% |
| Return on capital | 9.4% | 8.6% |
| Return on equity | 16.5% | 9.6% |
| Balance sheet | ||
| Net debt | $845M | $1.6B |
| Net debt / EBITDA | 1.7x | 2.0x |
| Dividends and buybacks | $365M | $156M |
| Valuation & quality | ||
| P/E | 23.8x | 29.6x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
FLS $4.0B
TKR $2.7B
FY17
FLS $3.7B
TKR $3.0B
FY18
FLS $3.8B
TKR $3.6B
FY19
FLS $3.9B
TKR $3.8B
FY20
FLS $3.7B
TKR $3.5B
FY21
FLS $3.5B
TKR $4.1B
FY22
FLS $3.6B
TKR $4.5B
FY23
FLS $4.3B
TKR $4.8B
FY24
FLS $4.6B
TKR $4.6B
FY25
FLS $4.7B
TKR $4.6B
FLS
TKR
Operating margin
FY16
FLS 6.9%
TKR 9.2%
FY17
FLS 9.3%
TKR 10.0%
FY18
FLS 5.9%
TKR 12.7%
FY19
FLS 9.8%
TKR 13.6%
FY20
FLS 6.7%
TKR 13.0%
FY21
FLS 7.7%
TKR 12.4%
FY22
FLS 5.5%
TKR 13.5%
FY23
FLS 7.7%
TKR 13.8%
FY24
FLS 10.1%
TKR 13.4%
FY25
FLS 8.5%
TKR 11.8%
FLS
TKR
Free cash flow
FY16
FLS $151M
TKR $266M
FY17
FLS $249M
TKR $132M
FY18
FLS $107M
TKR $220M
FY19
FLS $248M
TKR $410M
FY20
FLS $253M
TKR $456M
FY21
FLS $195M
TKR $239M
FY22
FLS −$116M
TKR $285M
FY23
FLS $258M
TKR $357M
FY24
FLS $344M
TKR $306M
FY25
FLS $435M
TKR $406M
FLS
TKR
Return on capital
FY16
FLS 6.1%
TKR 10.5%
FY17
FLS 6.4%
TKR 12.3%
FY18
FLS 6.4%
TKR 13.1%
FY19
FLS 11.9%
TKR 12.2%
FY20
FLS 7.1%
TKR 9.7%
FY21
FLS 11.0%
TKR 11.6%
FY22
FLS 7.6%
TKR 12.1%
FY23
FLS 11.3%
TKR 11.7%
FY24
FLS 12.9%
TKR 9.9%
FY25
FLS 9.4%
TKR 8.6%
FLS
TKR
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.