Pentair (PNR) financial statements
Pentair reported revenue of $4.2B in fiscal 2025, up 4.6% a year over 9 years.
Net income was $654M and the operating margin 20.5%, against 12.7% in 2016.
Free cash flow was $746M, and the company returned $164M in dividends and $225M in net buybacks.
The diluted share count fell 10% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Pentair's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8B | $2.8B | $3.0B | $3.0B | $3.0B | $3.8B | $4.1B | $4.1B | $4.1B | $4.2B |
| Cost of revenue | $1.8B | $1.9B | $1.9B | $1.9B | $2.0B | $2.4B | $2.8B | $2.6B | $2.5B | $2.5B |
| Gross profit | $959M | $988M | $1.0B | $1.1B | $1.1B | $1.3B | $1.4B | $1.5B | $1.6B | $1.7B |
| Research and development | $73M | $73M | $77M | $79M | $76M | $86M | $92M | $100M | $94M | $96M |
| Selling, general and admin | $531M | $536M | $534M | $540M | $520M | $596M | $677M | $680M | $701M | $737M |
| Operating income | $354M | $378M | $437M | $432M | $461M | $637M | $595M | $739M | $804M | $858M |
| Interest expense | $148M | $97M | $33M | $30M | — | — | — | — | — | — |
| Pre-tax income | $221M | $173M | $380M | $408M | $432M | $627M | $551M | $619M | $719M | $756M |
| Income tax | $43M | $59M | $58M | $46M | $75M | $71M | $67M | -$4M | $93M | $107M |
| Net income | $522M | $666M | $347M | $356M | $359M | $553M | $481M | $623M | $625M | $654M |
| EPS (diluted) | $2.85 | $3.63 | $1.96 | $2.09 | $2.14 | $3.30 | $2.90 | $3.75 | $3.74 | $3.96 |
| Diluted shares | 183M | 184M | 177M | 170M | 167M | 168M | 166M | 166M | 167M | 166M |
| Gross margin | 34.5% | 34.7% | 35.3% | 35.6% | 35.0% | 35.0% | 33.1% | 37.0% | 39.2% | 40.5% |
| Operating margin | 12.7% | 13.3% | 14.7% | 14.6% | 15.3% | 16.9% | 14.4% | 18.0% | 19.7% | 20.5% |
| Net margin | 18.8% | 23.4% | 11.7% | 12.0% | 11.9% | 14.7% | 11.7% | 15.2% | 15.3% | 15.7% |
Balance sheet
Fiscal years, from Pentair's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $217M | $86M | $74M | $82M | $82M | $94M | $109M | $170M | $119M | $102M |
| Inventory | $524M | $357M | $388M | $377M | $420M | $563M | $790M | $678M | $611M | $633M |
| Total current assets | $2.7B | $1.7B | $1.0B | $1.1B | $975M | $1.3B | $1.6B | $1.6B | $1.4B | $1.5B |
| Property, plant and equipment | $539M | $280M | $273M | $283M | $301M | $310M | $344M | $362M | $359M | $377M |
| Goodwill | $2.0B | $2.1B | $2.1B | $2.3B | $2.4B | $2.5B | $3.3B | $3.3B | $3.3B | $3.5B |
| Total assets | $11.5B | $8.6B | $3.8B | $4.1B | $4.2B | $4.8B | $6.4B | $6.6B | $6.4B | $6.9B |
| Total current liabilities | $1.5B | $1.2B | $819M | $749M | $772M | $1.1B | $1.1B | $950M | $895M | $959M |
| Long-term debt | $4.3B | $1.4B | $788M | $1.0B | $840M | $894M | $2.3B | $2.0B | $1.6B | $1.6B |
| Total liabilities | $7.3B | $3.6B | $2.0B | $2.2B | $2.1B | $2.3B | $3.7B | $3.3B | $2.9B | $3.0B |
| Shareholders' equity | $4.3B | $5.0B | $1.8B | $2.0B | $2.1B | $2.4B | $2.7B | $3.2B | $3.6B | $3.9B |
| Net debt | $4.1B | $1.4B | $713M | $947M | $758M | $800M | $2.2B | $1.8B | $1.5B | $1.5B |
Cash flow
Fiscal years, from Pentair's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $861M | $620M | $439M | $353M | $574M | $613M | $363M | $619M | $767M | $815M |
| Capital spending | $43M | $39M | $48M | $58M | $62M | $60M | $85M | $76M | $74M | $69M |
| Free cash flow | $818M | $581M | $391M | $294M | $511M | $553M | $278M | $543M | $692M | $746M |
| Stock-based compensation | $34M | $40M | $21M | $21M | $20M | $30M | $25M | $29M | $40M | $37M |
| Dividends paid | $244M | $252M | $187M | $123M | $127M | $133M | $139M | $145M | $152M | $164M |
| Share buybacks (net) | $0 | -$200M | -$500M | -$150M | -$150M | -$150M | -$50M | $0 | -$150M | -$225M |
| Net borrowing | $100,000 | -$2.0B | -$675M | $198M | -$74M | -$104M | $1.3B | -$12M | -$362M | -$269M |
| Free cash flow margin | 29.4% | 20.4% | 13.2% | 10.0% | 16.9% | 14.7% | 6.7% | 13.2% | 17.0% | 17.9% |
| Dividends per share | $1.33 | $1.37 | $1.06 | $0.72 | $0.76 | $0.79 | $0.84 | $0.87 | $0.91 | $0.99 |
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Open PNR in InvestinglyQuestions
What was Pentair's revenue in 2025?
$4.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Pentair generate?
$746M in fiscal 2025 (operating cash flow minus capital spending).
From Pentair's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.