Pentair filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $4.0 billion, which fell 3.9% on the year before. That growth rate was down 1.8 percentage points on the rate a quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q3.
View chart data
| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q4 | -0.5% | 19.7% | 17.0% |
| FY25 Q1 | -0.4% | 20.3% | 18.7% |
| FY25 Q2 | -0.2% | 19.4% | 20.4% |
| FY25 Q3 | 0.8% | 20.5% | 19.0% |
| FY25 Q4 | 2.3% | 20.5% | 17.9% |
| FY26 Q1 | 3.1% | 20.6% | 17.0% |
| FY26 Q2 | -2.1% | 20.3% | 16.8% |
| FY26 Q3 | -3.9% | 19.6% | 16.3% |
What stands out
Capital spending rose 14.9% while operating cash flow fell 14.8%, so less of the cash generated was left over.
Profit and margins
Profit is there at every level. The trailing gross margin was 41.2%. The trailing operating margin was 19.6%, down 0.9 percentage points from a year earlier. Alongside that, the trailing net margin was 15.4%. Net income over the twelve months was $612.2 million, which fell 6.4% on the year before.
The cash picture
Spending is outrunning the cash the business brings in, so less is left over. Operating cash flow over the twelve months was $724.5 million, down 14.8% on the year before. Capital spending was $77.9 million, or 2.0% of revenue. Free cash flow, operating cash flow less capital spending, was $646.6 million, down 17.4% on the year before. Free cash flow was 16.3% of revenue (the free-cash-flow margin), down 2.7 percentage points from a year earlier.
The share base
The average diluted share count fell 2.0% over the year.
Against its own history
Set against the company’s own record: today’s free-cash-flow margin of 16.3% is higher than 68% of the company’s own past quarterly readings, which have ranged from −1.2% to 20.9%. Today’s operating margin of 19.6% is higher than 91% of past readings (−1.2% to 20.6%). Today’s twelve-month revenue growth rate of −3.9% is higher than 21% of past readings (−41.8% to 100.8%).
Guidance
The company gave its 2026 guidance for GAAP EPS from continuing operations of $3.86 to $4.06. The company kept its full year 2026 guidance for full year 2026 sales at 4% to 7%. The company gave its third quarter 2026 guidance for GAAP EPS from continuing operations of $0.97 to $1.00, and for third quarter sales of 4% to 6%.
What it means for our valuation
These trends feed directly into what the shares are worth in our model. In our model, growth 5 percentage points lower would lower the value by 29.2%, and 5 percentage points higher would raise it by 38.4%. A free-cash-flow margin 1 percentage point lower would lower it by 7.1%.
Next to watch
The next filing will show whether the trends above continue, slow or reverse.
