Flowserve (FLS) financial statements
Flowserve reported revenue of $4.7B in fiscal 2025, up 1.9% a year over 9 years.
Net income was $346M and the operating margin 8.5%, against 6.9% in 2016.
Free cash flow was $435M, and the company returned $110M in dividends and $255M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Flowserve's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.0B | $3.7B | $3.8B | $3.9B | $3.7B | $3.5B | $3.6B | $4.3B | $4.6B | $4.7B |
| Cost of revenue | $2.8B | $2.6B | $2.6B | $2.7B | $2.6B | $2.5B | $2.6B | $3.0B | $3.1B | $3.1B |
| Gross profit | $1.2B | $1.1B | $1.2B | $1.3B | $1.1B | $1.0B | $994M | $1.3B | $1.4B | $1.6B |
| Research and development | $43M | $39M | $40M | $42M | $36M | $34M | $40M | $49M | $70M | $54M |
| Selling, general and admin | $965M | $902M | $967M | $913M | $878M | $797M | $816M | $961M | $978M | $1.1B |
| Operating income | $277M | $341M | $228M | $387M | $250M | $271M | $197M | $334M | $462M | $400M |
| Interest expense | $60M | $60M | $58M | $55M | $56M | $58M | $46M | $67M | $69M | $78M |
| Pre-tax income | $213M | $263M | $156M | $322M | $202M | $134M | $154M | $224M | $386M | $525M |
| Income tax | $77M | $259M | $47M | $75M | $61M | -$3M | -$44M | $19M | $85M | $156M |
| Net income | $132M | $3M | $105M | $239M | $130M | $126M | $189M | $187M | $283M | $346M |
| EPS (diluted) | $1.01 | $0.02 | $0.80 | $1.81 | $1.00 | $0.96 | $1.44 | $1.42 | $2.14 | $2.64 |
| Diluted shares | 131M | 131M | 131M | 132M | 131M | 131M | 131M | 132M | 132M | 131M |
| Gross margin | 31.0% | 29.7% | 31.0% | 32.7% | 30.0% | 29.6% | 27.5% | 29.6% | 31.5% | 33.4% |
| Operating margin | 6.9% | 9.3% | 5.9% | 9.8% | 6.7% | 7.6% | 5.5% | 7.7% | 10.1% | 8.5% |
| Net margin | 3.3% | 0.1% | 2.7% | 6.1% | 3.5% | 3.6% | 5.2% | 4.3% | 6.2% | 7.3% |
Balance sheet
Fiscal years, from Flowserve's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $367M | $703M | $620M | $671M | $1.1B | $658M | $435M | $546M | $675M | $760M |
| Receivables | $883M | $857M | $792M | $796M | $753M | $739M | $869M | $882M | $977M | $1.0B |
| Inventory | $898M | $884M | $634M | $661M | $667M | $678M | $803M | $880M | $837M | $790M |
| Total current assets | $2.3B | $2.6B | $2.4B | $2.5B | $2.9B | $2.4B | $2.5B | $2.7B | $2.9B | $3.0B |
| Property, plant and equipment | $725M | $672M | $610M | $564M | $557M | $516M | $501M | $506M | $540M | $567M |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.3B | $1.4B |
| Total assets | $4.7B | $4.9B | $4.6B | $4.9B | $5.3B | $4.7B | $4.8B | $5.1B | $5.5B | $5.7B |
| Total current liabilities | $1.2B | $1.2B | $1.1B | $1.1B | $1.1B | $1.1B | $1.2B | $1.4B | $1.5B | $1.5B |
| Long-term debt | $1.5B | $1.5B | $1.4B | $1.4B | $1.7B | $1.3B | $1.2B | $1.2B | $1.5B | $1.5B |
| Total liabilities | $3.1B | $3.3B | $3.0B | $3.2B | $3.6B | $2.9B | $2.9B | $3.1B | $3.4B | $3.5B |
| Shareholders' equity | $1.6B | $1.7B | $1.6B | $1.7B | $1.7B | $1.8B | $1.8B | $1.9B | $2.0B | $2.2B |
| Net debt | $1.2B | $872M | $863M | $706M | $632M | $644M | $839M | $688M | $829M | $815M |
Cash flow
Fiscal years, from Flowserve's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $240M | $311M | $191M | $324M | $311M | $250M | -$40M | $326M | $425M | $506M |
| Capital spending | $90M | $62M | $84M | $76M | $57M | $55M | $76M | $67M | $81M | $71M |
| Free cash flow | $151M | $249M | $107M | $248M | $253M | $195M | -$116M | $258M | $344M | $435M |
| Stock-based compensation | $30M | $23M | $20M | $24M | $27M | $29M | $26M | $28M | $30M | $38M |
| Dividends paid | $98M | $99M | $99M | $100M | $104M | $105M | $105M | $105M | $110M | $110M |
| Share buybacks (net) | $0 | $0 | $0 | -$15M | -$32M | -$18M | $0 | $0 | -$20M | -$255M |
| Net borrowing | -$60M | -$60M | -$60M | -$105M | -$191M | — | — | — | — | — |
| Free cash flow margin | 3.8% | 6.8% | 2.8% | 6.3% | 6.8% | 5.5% | -3.2% | 6.0% | 7.6% | 9.2% |
| Dividends per share | $0.75 | $0.76 | $0.76 | $0.76 | $0.79 | $0.80 | $0.80 | $0.80 | $0.83 | $0.84 |
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Open FLS in InvestinglyQuestions
What was Flowserve's revenue in 2025?
$4.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Flowserve generate?
$435M in fiscal 2025 (operating cash flow minus capital spending).
From Flowserve's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.