Zurn Elkay Water Solutions Corp filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $1.8 billion, a 10.1% rise on the year before. That growth rate was down 0.6 percentage points from the 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 | 2.4% | 15.6% | 16.9% |
| FY25 Q1 | 3.2% | 16.1% | 15.9% |
| FY25 Q2 | 4.7% | 16.1% | 17.2% |
| FY25 Q3 | 6.9% | 16.1% | 17.3% |
| FY25 Q4 | 8.3% | 16.4% | 18.7% |
| FY26 Q1 | 10.0% | 17.1% | 18.5% |
| FY26 Q2 | 10.7% | 20.8% | 20.9% |
| FY26 Q3 | 10.1% | 22.1% | 21.1% |
The main points
Net income rose 51.1% over the year while free cash flow increased by 34.1%, showing that reported profit and cash are moving at different speeds.
Profit and margins
Growth is arriving with wider margins, so profit is rising faster than sales. The trailing gross margin stood at 50.4%. The trailing operating margin was 22.1%, up 5.9 percentage points from a year earlier. Meanwhile, the trailing net margin reached 15.9%. Net income over the twelve months totaled $290.6 million, marking a 51.1% increase on the year before.
Where the cash went
The cash flow statement indicates growth. Operating cash flow over the twelve months was $412.3 million, up 29.5% on the year before. Capital spending, estimated from depreciation because the company no longer reports it in a standard form, came to about $26.7 million. Free cash flow, calculated as operating cash flow less that estimate, stood at approximately $385.6 million.
The share base
The average diluted share count declined by 1.2% over the year.
How today compares
In the context of past results: today’s free-cash-flow margin of 21.1% is higher than 93% of the company’s own past quarterly readings, which have ranged from 0.3% to 33.9%. Today’s operating margin of 22.1% exceeds every past reading (4.2% to 21.5%). Today’s twelve-month revenue growth rate of 10.1% is higher than 80% of past readings (−62.9% to 55.5%).
What it means for value
For valuation, the figures matter through our model. In our model, a 5 percentage point lower growth would reduce the value by 25.1%, while a 5 percentage point higher growth would raise it by 32.6%. A free-cash-flow margin 1 percentage point lower would decrease the value by 4.6%.
What comes next
The next filing will show whether the trends above continue, slow or reverse.
