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Zurn Elkay Water Solutions Corp (ZWS) stock

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NYSE: ZWS NYSE Building Products Next results ~January 19, 2027

B Fundamentals grade

Zurn Elkay Water Solutions Corp is a US-listed company in the building products industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$43

Cash-flow model

Base case. Range ~$32–$58 across our lower- and higher-growth cases (3.3%–13.3% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 3% above our base value.

Price used: $44.67, November 2, 2026

Zurn Elkay Water Solutions Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 8 selling1 purchase and 24 sales by directors and officers, last 12 monthsInsider trades
  • Funds227 adding, 185 cuttingOf 56 active managers that changed their stake, 21 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Zurn Elkay Water Solutions files

10-Q filed October 27: Zurn Elkay Water Solutions

Model value −1.4%

Revenue for the twelve months to September 2026 reached $1.83bn, up 10.1% on a year earlier. That pace eased from the 10.7% growth recorded a quarter earlier. Margins moved the other way: free cash flow climbed to 21.1% of revenue from 17.3%, while the operating margin widened to 22.1% from 16.1%. Our model value edges down to $42.43 a share from $43.05, set against a share price of $49.04. We keep the rating at Hold. On the model, that price implies the market expects roughly 10.3% a year of cash-flow growth over five years. That falls short of the 14.9% a year revenue growth the business has actually delivered.

Source: 10-Q filed October 27, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Zurn Elkay Water Solutions stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.79bn, up 10.7% on a year earlier, faster than the 10.0% growth a quarter earlier. That growth ranks 7 of 31 among the building products companies we cover. Free-cash-flow margin rose to 20.9% from 17.2% a year earlier. Operating margin widened to 20.8% from 16.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 6 of our 7 financial-health checks. Our cash-flow model value is $43.05 a share, against a share price of $49.23. At that price, our model says the market is pricing in about 10.3% a year of cash-flow growth for five years, slower than the 14.4% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 19, 2027 (estimated)

Zurn Elkay Water Solutions Corp's trailing-twelve-month revenue grew 10.1% year on year, with a free-cash-flow margin of 21.1%. Where it stands out: free-cash-flow margin of 21.1% ranks 1 of 46 building products companies we cover. Where it lags: stock pay as % of revenue of 2.4% ranks 37 of 41 building products companies we cover.

Our discounted-cash-flow model values the business at ~$43 per share in the base case (~$32–$58 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 34.1% while net income grew 51.1%: a 17pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 5.9 points on a year ago.
  • Strong cash generation. 21.1% of revenue turned into free cash flow, against a median of 9.1% for building products companies we cover.
  • Shrinking share count. Diluted shares fell 1.2% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.4% ranks 37 of 41 building products companies we cover (median 0.7%).

Latest results: FY2026 Q3

Filed October 27, 2026
Earnings per share
$0.52 against an average estimate of $0.50: beat by 4.2%
Revenue
$495m, up 8.7% on a year earlier
Share reaction
-11.8% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Next report
October 27, 2026; average EPS estimate $0.43

Zurn Elkay Water Solutions' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.3%
  • 1 week-9.4%
  • 1 month-6.3%
  • This year-3.3%
  • 1 year-4.3%
  • 5 years+32.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.8B
Operating margin
22.1%
Net margin
15.9%
EPS (TTM, diluted)
$1.71

Growth

Revenue growth
+10.1%
Change in growth rate
−0.6 pts
Share count change
−1.2%

Cash

Free cash flow (TTM)
$386M
FCF margin
21.1%
Stock pay % of revenue
2.4%

Earnings

Last results
October 27, 2026
Next results (est.)
January 19, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Results
  4. Our research
  5. Dividend
  6. Announcement
  7. Insider trade
  8. Announcement
  9. Results
  10. Dividend
  11. Deal
  12. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Zurn Elkay Water Solutions Corp valuation models and calculator

What the price is pricing in

The share price implies about 8.2% a year of cash-flow growth for five years.That is slower than the 14.9% a year revenue growth Zurn Elkay Water Solutions has delivered.

  • Priced in8.2%
  • Last 12 months10.1%
  • 3 years a year6.5%
  • 5 years a year14.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($44.60, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$43
Price used
$44.60close November 3, 2026
Implied change
▼ 3%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Zurn Elkay Water Solutions Corp's free cash flow after stock-based pay with after-tax interest added back ($321M, FY2026 Q3 TTM), growing 6.6% and 7.3% in the next two years (forecasts, guidance and its record), then back to 8.3% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$32–~$58 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Zurn Elkay Water Solutions Corp's free cash flow after stock-based pay ( $321M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Zurn Elkay Water Solutions Corp as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.98 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$43 ~$32–$58 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$32 ~$29–$41 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$9.7 ~$6.9–$14 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$9.5 ~$8.2–$11 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$28 ~$9.5–$43 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Zurn Elkay Water Solutions Corp with Building Products in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +21%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $27$37$50$67$90$120
8.5% $20$27$37$50$66$87
10% $16$22$29$39$51$67

Valuation multiples over time Market data may be delayed

At fiscal year end 201620172018202020212022202320242025Now
Share price$9.17$10.47$13.46$18.09$34.82$20.38$28.66$36.70$46.18$44.67
Market value$947m$1.1bn$1.6bn$2.2bn$4.4bn$3.1bn$5.1bn$6.4bn$7.9bn$7.6bn
+ Net debt (− = net cash)$0$0$0$1.1bn$454m$420m$365m$303m$200m$193m
Enterprise value$947m$1.1bn$1.6bn$3.4bn$4.8bn$3.6bn$5.4bn$6.7bn$8.1bn$7.8bn
Multiples
Price / sales 0.5x0.6x0.9x4.0x4.8x2.4x3.3x4.1x4.7x4.2x
Price / earnings 14.0x14.8x21.6x15.2x36.0x50.8x45.1x40.0x39.9x26.1x
Price / free cash flow 5.7x7.6x8.6x8.0x19.5x32.3x20.0x21.8x22.8x18.4x
EV / EBITDA 3.3x3.7x4.7x20.9x31.8x27.9x24.7x24.5x26.2x18.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

56 /100

Moderate moat

How hard Zurn Elkay Water Solutions's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.6% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 40.4%, moving by 4.1 percentage points (standard deviation) across 10 years.

  • Durability 8 / 20

    Operating margin has been a median 14.8%; its worst year was 4.2%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 10 of 10 years, at a median 16.6% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 36.4% over five years; stock-based pay has been a median 2.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (61 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.86 +22% $1.9bn +9%
Next $2.04 +10% $2.0bn +5%

Next year's EPS estimate has moved −0.1% in 90 days, across 10 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.5% on 90 days ago. In the last 30 days, 11 analysts raised Zurn Elkay Water Solutions Corp's forecast and 0 cut it.

Consensus EPS forecast Zurn Elkay Water Solutions Corp, last 90 days
$1.80 $1.90 $2.00 $2.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.83 Current fiscal year, 60 days ago: $1.83 Current fiscal year, 30 days ago: $1.83 Current fiscal year, 7 days ago: $1.83 Current fiscal year, Now: $1.86 $1.86 Next fiscal year, 90 days ago: $2.04 Next fiscal year, 60 days ago: $2.03 Next fiscal year, 30 days ago: $2.04 Next fiscal year, 7 days ago: $2.03 Next fiscal year, Now: $2.04 $2.04

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.83$2.04
60 days ago $1.83$2.03
30 days ago $1.83$2.04
7 days ago $1.83$2.03
Now $1.86$2.04

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.50 $0.52 +4.2%
Jun 2026 $0.47 $0.50 +5.8%
Mar 2026 $0.36 $0.41 +13.0%
Dec 2025 $0.34 $0.36 +5.9%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Zurn Elkay Water Solutions Corp's revenue by +6.6% next year and +7.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+5.7%, weight 67%) and the company's own record (+8.3%, weight 33%) . How the weights are set.

Analyst recommendations

10 analysts, Oct 2026
Buy440%
Hold660%
Sell00%

Monthly trend

  1. Oct 202613610
  2. Sep 202613610
  3. Aug 202613610
  4. Jul 202614611

Counts of recommendations published by analysts covering Zurn Elkay Water Solutions Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.5%
of tradable shares
Days to cover
4.72
at average volume
Short interest, 1 month
−12%
to October 15, 2026
Held by institutions
93%
of shares
Held by insiders
11.7%
of shares
Employees
2,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −4.3%

$46.68 on October 31, 2025 to $44.67

ThenNowEffect
Revenue (last 12 months) $1.6bn $1.8bn +10.7%
Net margin 10.8% 15.5% +43.3%
P/E multiple 46.3x 27.6x −40.5%
Share count 173m 170m +1.3%

Biggest factor: p/e multiple.

Last 3 years +60.4%

$27.84 on November 3, 2023 to $44.67

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.8bn +16.5%
Net margin 3.4% 15.5% +351.3%
P/E multiple 94.6x 27.6x −70.9%
Share count 178m 170m +4.7%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ZWS+93%−42%+41%+28%+26%−3%
Industry peers (median)+22%−24%+45%+10%−12%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ZWS83%33%58%75%75%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ZWS−19%−43%−19%−14%−28%−18%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 47% from November 19, 2021 to March 23, 2023. Getting back needed a 90% gain, reached on October 16, 2024, 573 days after the low.

Price behaviour

52-week range
$43.50 – $53.06
From 52-week high
−15.8%
vs 50-day average
−5.0%
vs 200-day average
−7.2%
Volatility (1 year)
30%
Beta vs S&P 500
0.82

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.9%
After a week
8 up, 3 down
typical move ±7.6%
After a month
9 up, 2 down
typical move ±7.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −11.8% +0.9% — —
July 28, 2026 +5.7% −1.3% +9.0% +1.1%
July 20, 2026 −1.0% +0.7% +2.2% +3.1%
May 27, 2026 −3.7% +0.5% −2.9% +4.2%
April 21, 2026 +9.8% +0.4% +9.1% +0.3%
February 3, 2026 +10.3% −1.3% +10.2% +3.4%
October 28, 2025 +2.9% +0.3% +0.6% +3.5%
July 29, 2025 +11.8% −0.4% +16.0% +21.4%
April 22, 2025 +10.0% +4.2% +15.1% +21.2%
February 4, 2025 −2.7% +1.1% −5.8% −11.4%
October 29, 2024 −0.4% −0.1% +6.7% +10.3%
July 30, 2024 +0.7% +1.1% −5.8% −0.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Zurn Elkay Water Solutions Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Zurn Elkay Water Solutions Corp in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Zurn Elkay Water Solutions Corp
$1.5B $1.6B $1.7B $1.8B $1.9B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.5B Revenue (TTM), FY24 Q1: $1.5B Revenue (TTM), FY24 Q2: $1.5B Revenue (TTM), FY24 Q3: $1.6B Revenue (TTM), FY24 Q4: $1.6B Revenue (TTM), FY25 Q1: $1.6B Revenue (TTM), FY25 Q2: $1.6B Revenue (TTM), FY25 Q3: $1.7B Revenue (TTM), FY25 Q4: $1.7B Revenue (TTM), FY26 Q1: $1.7B Revenue (TTM), FY26 Q2: $1.8B Revenue (TTM), FY26 Q3: $1.8B $1.8B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.5B
FY24 Q1 $1.5B
FY24 Q2 $1.5B
FY24 Q3 $1.6B
FY24 Q4 $1.6B
FY25 Q1 $1.6B
FY25 Q2 $1.6B
FY25 Q3 $1.7B
FY25 Q4 $1.7B
FY26 Q1 $1.7B
FY26 Q2 $1.8B
FY26 Q3 $1.8B
Revenue growth, TTM YoY Zurn Elkay Water Solutions Corp
0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 19.4% Revenue growth, TTM YoY, FY24 Q1: 8.3% Revenue growth, TTM YoY, FY24 Q2: 0.5% Revenue growth, TTM YoY, FY24 Q3: 2.5% Revenue growth, TTM YoY, FY24 Q4: 2.4% Revenue growth, TTM YoY, FY25 Q1: 3.2% Revenue growth, TTM YoY, FY25 Q2: 4.7% Revenue growth, TTM YoY, FY25 Q3: 6.9% Revenue growth, TTM YoY, FY25 Q4: 8.3% Revenue growth, TTM YoY, FY26 Q1: 10.0% Revenue growth, TTM YoY, FY26 Q2: 10.7% Revenue growth, TTM YoY, FY26 Q3: 10.1% 10.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 19.4%
FY24 Q1 8.3%
FY24 Q2 0.5%
FY24 Q3 2.5%
FY24 Q4 2.4%
FY25 Q1 3.2%
FY25 Q2 4.7%
FY25 Q3 6.9%
FY25 Q4 8.3%
FY26 Q1 10.0%
FY26 Q2 10.7%
FY26 Q3 10.1%
Operating margin (TTM) Zurn Elkay Water Solutions Corp
10% 15% 20% 25% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 12.5% Operating margin (TTM), FY24 Q1: 13.1% Operating margin (TTM), FY24 Q2: 14.1% Operating margin (TTM), FY24 Q3: 14.7% Operating margin (TTM), FY24 Q4: 15.6% Operating margin (TTM), FY25 Q1: 16.1% Operating margin (TTM), FY25 Q2: 16.1% Operating margin (TTM), FY25 Q3: 16.1% Operating margin (TTM), FY25 Q4: 16.4% Operating margin (TTM), FY26 Q1: 17.1% Operating margin (TTM), FY26 Q2: 20.8% Operating margin (TTM), FY26 Q3: 22.1% 22.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 12.5%
FY24 Q1 13.1%
FY24 Q2 14.1%
FY24 Q3 14.7%
FY24 Q4 15.6%
FY25 Q1 16.1%
FY25 Q2 16.1%
FY25 Q3 16.1%
FY25 Q4 16.4%
FY26 Q1 17.1%
FY26 Q2 20.8%
FY26 Q3 22.1%
FCF margin (TTM) Zurn Elkay Water Solutions Corp
14% 16% 18% 20% 22% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 14.7% FCF margin (TTM), FY24 Q1: 17.9% FCF margin (TTM), FY24 Q2: 17.7% FCF margin (TTM), FY24 Q3: 16.8% FCF margin (TTM), FY24 Q4: 16.9% FCF margin (TTM), FY25 Q1: 15.9% FCF margin (TTM), FY25 Q2: 17.2% FCF margin (TTM), FY25 Q3: 17.3% FCF margin (TTM), FY25 Q4: 18.7% FCF margin (TTM), FY26 Q1: 18.5% FCF margin (TTM), FY26 Q2: 20.9% FCF margin (TTM), FY26 Q3: 21.1% 21.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 14.7%
FY24 Q1 17.9%
FY24 Q2 17.7%
FY24 Q3 16.8%
FY24 Q4 16.9%
FY25 Q1 15.9%
FY25 Q2 17.2%
FY25 Q3 17.3%
FY25 Q4 18.7%
FY26 Q1 18.5%
FY26 Q2 20.9%
FY26 Q3 21.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-KT, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Zurn Elkay Water Solutions took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.7B
  2. Cost of revenue $931M · 54.9%
  3. Gross profit $765M · 45.1%
  4. Selling, general and admin $418M · 24.6%
  5. Other operating costs $68.3M · 4.0%
  6. Operating income $279M · 16.4%
  7. Income tax $63.9M · 3.8%
  8. Interest and other $17M · 1.0%
  9. Net income $198M · 11.7%

Shares of revenue. Source: Zurn Elkay Water Solutions's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Mar 2010 2011 Mar 2011 2012 Mar 2012 2013 Mar 2013 2014 Mar 2014 2015 Mar 2015 2016 Mar 2016 2017 Mar 2017 2018 Mar 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1,510 1,675 1,944 1,944 2,034 2,050 1,924 1,713 1,852 710 563 911 1,282 1,531 1,567 1,696 1,826
Gross profit 516 593 690 717 753 746 665 626 707 — 338 373 466 648 707 765 921
EBITDA 221 323 359 354 379 316 290 299 346 — 161 151 128 221 274 309 430
Operating income 161 217 245 243 272 204 174 203 266 — 108 107 107 191 245 279 403
Net income 88 −51 30 50 30 84 68 74 76 — 147 121 62 113 160 198 291
Diluted EPS $1.27 −$0.77 $0.42 $0.50 $0.30 $0.80 $0.66 $0.64 $0.62 — $1.19 $0.97 $0.40 $0.64 $0.92 $1.15 $1.71
Growth (year on year)
Revenue — +10.9% +16.1% −0.0% +4.7% +0.8% −6.2% −11.0% +8.1% −61.6% −20.8% +61.9% +40.7% +19.4% +2.4% +8.3% +10.1%
EBITDA — +46.2% +11.2% −1.5% +7.2% −16.7% −8.3% +3.3% +15.6% — — −6.1% −15.6% +72.9% +24.1% +12.8% +43.9%
Operating income — +34.6% +12.9% −1.0% +12.1% −25.2% −14.4% +16.6% +31.1% — — −0.7% +0.1% +78.7% +27.8% +14.0% +50.5%
Net income — −158.2% — — −39.7% — −19.0% +9.1% +2.4% — — −17.6% −49.0% +82.7% +42.1% +23.6% +51.1%
Diluted EPS — −160.6% — — −40.0% — −17.5% −3.0% −3.1% — — −18.5% −58.8% +60.0% +43.8% +25.0% +53.0%
Margins
Gross margin 34.1% 35.4% 35.5% 36.9% 37.0% 36.4% 34.6% 36.6% 38.2% — 60.1% 41.0% 36.3% 42.3% 45.1% 45.1% 50.4%
EBITDA margin 14.6% 19.3% 18.5% 18.2% 18.6% 15.4% 15.1% 17.5% 18.7% — 28.6% 16.6% 10.0% 14.4% 17.5% 18.2% 23.5%
Operating margin 10.7% 13.0% 12.6% 12.5% 13.4% 9.9% 9.1% 11.9% 14.4% — 19.1% 11.7% 8.4% 12.5% 15.6% 16.4% 22.1%
Net margin 5.8% −3.1% 1.5% 2.6% 1.5% 4.1% 3.5% 4.3% 4.1% — 26.1% 13.3% 4.8% 7.4% 10.2% 11.7% 15.9%
Free-cash-flow margin 8.8% 7.6% 4.2% 4.3% 6.8% 9.6% 8.7% 8.4% 10.3% — 49.5% 24.5% 7.6% 16.6% 18.7% 20.4% 22.6%
Cash flow
Cash from operations 156 165 139 145 191 246 219 195 229 — 320 224 97 254 294 347 412
Capital spending 22 38 59 60 52 49 52 51 38 43 41 0 0 0 0 0 0
Free cash flow 134 127 81 84 139 197 167 144 191 — 279 224 97 254 294 347 412
Stock-based pay 6 6 4 7 7 6 8 13 21 — 45 51 25 40 38 41 43
Free cash flow after stock pay 128 121 77 77 132 191 159 131 170 — 234 172 72 214 256 306 369
Balance sheet
Cash — — — — — — — — — 277 62 97 125 137 198 301 307
Total debt 0 2,314 2,424 2,132 1,972 1,940 1,920 1,641 1,371 1,149 1,199 550 545 502 501 501 500
Net debt (negative = net cash) — — — — — — — — — 872 1,137 454 420 365 303 200 193
Diluted shares 69m 67m 72m 100m 101m 105m 103m 105m 122m — 123m 125m 154m 177m 175m 171m 170m
Returned to shareholders
Dividends — — — — — — — — 0 — 39 36 33 50 57 64 74
Buybacks −0 1 0 0 0 0 40 0 0 — 140 1 25 125 150 160 160
Total returned −0 1 0 0 0 0 40 0 0 — 179 37 57 176 207 224 233

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 7 checks passed · September 30, 2026
What it owns · $2.8bn
Short-term assets $884mLonger-term assets $1.9bn
What it owes, and who funded it · $2.8bn
Short-term liabilities $310mLonger-term liabilities $803mShareholders' equity $1.7bn
  • Short-term assets cover short-term liabilities $884m of assets due within a year against $310m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $884m short-term assets against $803m of longer-dated liabilities.
  • More cash than debt $307m of cash against $500m of debt.
  • Debt below 40% of shareholders' equity Debt is 30% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 275% to 30% over five years.
  • A year's operating cash flow covers at least 20% of debt $412m of operating cash flow against $500m of debt.
  • Operating profit covers interest at least five times over Operating income of $403m against $25m of interest.

From Zurn Elkay Water Solutions Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$160M
Dividends (TTM)
$73.5M
Returned to shareholders
60%
of free cash flow
Buybacks, last 3 fiscal years
$435M
Diluted share count
−1.2%
year over year
Total shareholder yield
3.2%
dividends 1.0% + buybacks 2.2% of market value
Dividend payout ratio
25%
of net income paid out
Sales & admin spending
24.7%
of revenue
Days sales outstanding
53 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in building products
Last 12 months unless stated ZWS NX AWI AAON HLMN TILE Median
Revenue, last 12 months $1.8bn $1.9bn $1.7bn $1.9bn $1.6bn $1.4bn $1.8bn
Revenue growth, last 12 months 10.1% 1.3% 9.1% 53.5% 6.5% 6.5% 3.7%
Revenue growth, 3-year average 6.5% 17.7% 10.7% 22.7% 3.2% 3.8% 3.6%
Revenue growth, latest quarter 8.7% 1.3% 11.9% 101.2% 9.8% 5.4% 8.0%
Gross margin 50.4% 26.6% 39.8% 25.6% — 40.5% 32.0%
Operating margin 22.1% 6.0% 25.8% 11.0% 6.9% 13.6% 7.0%
Operating margin, 3-year average 17.6% 0.6% 26.0% 14.5% 6.3% 11.5% 10.7%
Net margin 15.9% 2.4% 18.4% 8.2% 2.6% 10.1% 5.1%
Cash from operations / revenue 22.6% 7.8% 19.0% 4.5% 7.8% 12.4% 12.4%
Free-cash-flow margin 21.1% 4.9% 12.5% −0.4% 3.8% 8.6% 8.9%
Free-cash-flow margin, 3-year average 18.4% 4.9% 13.0% 3.0% 5.8% 8.5% 8.5%
Stock pay / revenue 2.4% 0.2% 1.1% 1.0% 0.9% 1.2% 0.7%
Change in share count −1.2% −2.4% −2.1% 0.0% −0.3% −0.3% −0.6%

Median of all 46 companies we cover in building products. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

46 building products companies
Measure Company Peer median Rank
Revenue growth Growth 10.1% 4.0% 14 of 46
Change in growth rate Growth -0.6pp +0.8pp 32 of 46
Gross margin Profitability 50.4% 32.1% 2 of 43
Operating margin Profitability 22.1% 7.2% 2 of 45
Net margin Profitability 15.9% 5.6% 2 of 46
Free-cash-flow margin Cash generation 21.1% 9.1% 1 of 46
Stock pay as % of revenue Cash generation 2.4% 0.7% 37 of 41
Long-term debt as % of assets Balance sheet 17.8% 25.7% 13 of 37
Change in share count Balance sheet -1.2% -0.6% 20 of 44
Days sales outstanding Balance sheet 53 days 53 days 18 of 34

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $1.6B 91.5% ▲ 8.6%
Canada $97.8M 5.8% ▲ 8.5%
Other Geographical Areas $47M 2.8% ▼ 1.1%

From Zurn Elkay Water Solutions Corp's 10-K filed February 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.5B
Institutions reporting
432
Shares held vs prior quarter
▲ 0.8%
Positions opened / closed
53 / 40

Top buyers and sellers, Q2 2026: 227 institutions bought and 185 sold ; the biggest buyer was Crescent Grove Advisors, LLC (+1.0M shares) and the biggest seller Kayne Anderson Rudnick Investment Management LLC (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.2B 24.6M 16.6% ▲ 2.2%
Vanguard Portfolio Management LLC $454M 9.0M 6.1% ▲ 1.5%
Kayne Anderson Rudnick Investment Management LLC $449M 8.9M 6.0% ▼ 18.0%
Vanguard Capital Management LLC $354M 7.0M 4.7% ▲ 0.4%
State Street Corp $303M 6.0M 4.0% ▲ 6.2%
Bank Of America Corp $278M 5.5M 3.7% ▼ 2.1%
Invesco Ltd. $235M 4.6M 3.1% ▲ 1.0%
Geode Capital Management, LLC $194M 3.8M 2.6% ▲ 5.4%
Beck Mack & Oliver LLC $173M 3.4M 2.3% ▼ 1.9%
Jupiter Topco LLC $172M 3.4M 2.3% —
First Trust Advisors LP $161M 3.2M 2.2% ▲ 3.3%
Price T Rowe Associates Inc $139M 2.8M 1.9% ▼ 5.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Zurn Elkay Water Solutions Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $99,994 1 trade by 1 insider, last 12 months Insider sales History → $38.8M 24 trades by 8 insiders · 2% under pre-set plans
Net ▼ $38.7M net selling
Insider Date Trade Shares Price Value
Butler Jacques Donavon Director August 19, 2026 Buy 2,016 $49.60 $99,994
Peterson Mark W Chief Administrative Officer August 4, 2026 Sell 25,000 $53.02 $1.3M
Jahnke Timothy J Director February 17, 2026 Sell 25,000 $51.18 $1.3M
Lavalle Jeffrey J. VP, General Counsel & Sec'y February 17, 2026 Sell 447 $50.86 $22,734
Peterson Mark W Chief Administrative Officer February 17, 2026 Sell 2,006 $50.86 $102,025
Troutman Michael Chief Information Officer February 17, 2026 Sell 448 $50.80 $22,758
Chhabra Sudhanshu VP-Zurn Business Systems February 17, 2026 Sell 2,021 $50.85 $102,768
Troutman Michael Chief Information Officer February 11, 2026 Sell 919 $51.67 $47,485
Lavalle Jeffrey J. VP, General Counsel & Sec'y February 11, 2026 Sell 946 $51.63 $48,842
Pauli David J Chief Financial Officer February 11, 2026 Sell 812 $51.61 $41,907
Peterson Mark W Chief Administrative Officer February 11, 2026 Sell 3,793 $51.48 $195,264
Schoon Jeffrey A President February 11, 2026 Sell 1,286 $51.54 $66,280

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 19, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • July 20, 2026
  • May 27, 2026
  • April 21, 2026
  • February 3, 2026

Recent SEC filings

Data status

When each part of this page on Zurn Elkay Water Solutions Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Zurn Elkay Water Solutions Corp in brief

What does Zurn Elkay Water Solutions Corp do?
Zurn Elkay Water Solutions Corp is a US-listed company in the building products industry. Its financial year ends in December.
What is Zurn Elkay Water Solutions Corp's stock ticker?
Zurn Elkay Water Solutions Corp trades under the ticker ZWS on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Zurn Elkay Water Solutions Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Zurn Elkay Water Solutions Corp reported revenue of $1.8B, 10.1% higher than a year earlier, according to its SEC filings.
What is Zurn Elkay Water Solutions Corp's free cash flow?
Zurn Elkay Water Solutions Corp's free-cash-flow margin is 21.1% of revenue over the trailing twelve months, ranking 1 of the 46 building products companies we cover.
What is Zurn Elkay Water Solutions Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Zurn Elkay Water Solutions Corp's free cash flow after stock-based pay gives ~$43 per share in the base case, and ~$32–$58 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Zurn Elkay Water Solutions Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Kayne Anderson Rudnick Investment Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Zurn Elkay Water Solutions Corp buying back stock, and does it pay a dividend?
Zurn Elkay Water Solutions Corp spent $160M on share repurchases over the trailing twelve months, and its diluted share count fell 1.2% over the year.
What is Zurn Elkay Water Solutions Corp's market cap?
On November 2, 2026, Zurn Elkay Water Solutions Corp's market capitalisation was about $7.6B, with a price-to-earnings ratio of 26.1 and net debt of $193M. Market figures come from third-party market data and may be delayed.
Does Zurn Elkay Water Solutions Corp pay a dividend?
Yes: Zurn Elkay Water Solutions Corp paid $73.5M in dividends over the trailing twelve months, a dividend yield of 0.99% and a payout ratio of 25.3%.
How much debt does Zurn Elkay Water Solutions Corp have?
Zurn Elkay Water Solutions Corp's debt-to-equity ratio is 29.5%, from its latest balance sheet (275.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Zurn Elkay Water Solutions Corp's competitors?
In our Building Products peer group, the companies closest to Zurn Elkay Water Solutions Corp are Quanex Building Products Corp, Armstrong World Industries Inc, AAON, Inc., Hillman Solutions Corp. and Interface Inc. The side-by-side comparison below sets their revenue, margins and growth against Zurn Elkay Water Solutions Corp's.
Are insiders buying or selling Zurn Elkay Water Solutions Corp stock?
Over the last 12 months, Zurn Elkay Water Solutions Corp's directors and officers reported 1 open-market purchases and 24 sales on Form 4. The insider trading page charts every trade.
When is Zurn Elkay Water Solutions Corp's next earnings date?
Around January 19, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Zurn Elkay Water Solutions Corp announces its own schedule.