Watts Water Technologies (WTS) financial statements
Watts Water Technologies reported revenue of $2.4B in fiscal 2025, up 6.4% a year over 9 years.
Net income was $341M and the operating margin 18.4%, against 10.4% in 2016.
Free cash flow was $356M, and the company returned $16M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Watts Water Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B | $1.5B | $1.6B | $1.6B | $1.5B | $1.8B | $2.0B | $2.1B | $2.3B | $2.4B |
| Cost of revenue | $833M | $854M | $908M | $923M | $883M | $1.0B | $1.1B | $1.1B | $1.2B | $1.2B |
| Gross profit | $566M | $602M | $656M | $678M | $625M | $767M | $874M | $961M | $1.1B | $1.2B |
| Research and development | $26M | $29M | $34M | $40M | $42M | $46M | $59M | $67M | $70M | $74M |
| Selling, general and admin | $424M | $432M | $465M | $476M | $434M | $508M | $549M | $604M | $664M | $734M |
| Operating income | $145M | $162M | $188M | $197M | $181M | $240M | $315M | $351M | $390M | $448M |
| Interest expense | $23M | $19M | $16M | $14M | $13M | $6M | $7M | $8M | $15M | $11M |
| Pre-tax income | $128M | $143M | $175M | $184M | $167M | $234M | $308M | $350M | $386M | $446M |
| Income tax | $44M | $70M | $47M | $52M | $53M | $68M | $56M | $87M | $95M | $105M |
| Net income | $84M | $73M | $128M | $132M | $114M | $166M | $252M | $262M | $291M | $341M |
| EPS (diluted) | $2.44 | $2.12 | $3.73 | $3.85 | $3.36 | $4.88 | $7.48 | $7.82 | $8.69 | $10.17 |
| Diluted shares | 34M | 34M | 34M | 34M | 34M | 34M | 34M | 34M | 34M | 34M |
| Gross margin | 40.4% | 41.4% | 42.0% | 42.3% | 41.5% | 42.4% | 44.2% | 46.7% | 47.2% | 49.5% |
| Operating margin | 10.4% | 11.1% | 12.0% | 12.3% | 12.0% | 13.2% | 15.9% | 17.1% | 17.3% | 18.4% |
| Net margin | 6.0% | 5.0% | 8.2% | 8.2% | 7.6% | 9.2% | 12.7% | 12.7% | 12.9% | 14.0% |
Balance sheet
Fiscal years, from Watts Water Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $338M | $280M | $204M | $220M | $219M | $242M | $311M | $350M | $387M | $406M |
| Receivables | $198M | $216M | $206M | $220M | $198M | $221M | $234M | $260M | $253M | $294M |
| Inventory | $239M | $259M | $287M | $270M | $264M | $371M | $376M | $399M | $392M | $524M |
| Total current assets | $819M | $784M | $721M | $735M | $710M | $862M | $951M | $1.1B | $1.1B | $1.3B |
| Property, plant and equipment | $190M | $198M | $202M | $200M | $212M | $201M | $197M | $248M | $255M | $297M |
| Goodwill | $533M | $550M | $545M | $581M | $602M | $601M | $592M | $693M | $715M | $859M |
| Total assets | $1.8B | $1.7B | $1.7B | $1.7B | $1.7B | $1.9B | $1.9B | $2.3B | $2.4B | $2.9B |
| Total current liabilities | $426M | $327M | $349M | $419M | $313M | $408M | $379M | $406M | $418M | $512M |
| Long-term debt | $511M | $475M | $323M | $204M | $198M | $142M | $148M | $298M | $197M | $198M |
| Total liabilities | $1.0B | $908M | $762M | $745M | $668M | $682M | $630M | $796M | $689M | $854M |
| Shareholders' equity | $736M | $829M | $891M | $978M | $1.1B | $1.2B | $1.3B | $1.5B | $1.7B | $2.0B |
| Net debt | $312M | $217M | $149M | $90M | -$21M | -$100M | -$163M | -$52M | -$190M | -$208M |
Cash flow
Fiscal years, from Watts Water Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $138M | $156M | $169M | $194M | $229M | $181M | $224M | $311M | $361M | $402M |
| Capital spending | $36M | $29M | $36M | $29M | $44M | $27M | $28M | $30M | $35M | $46M |
| Free cash flow | $102M | $126M | $134M | $165M | $185M | $154M | $196M | $281M | $326M | $356M |
| Stock-based compensation | $13M | $14M | $14M | $18M | $13M | $23M | $18M | $20M | $20M | $21M |
| Share buybacks (net) | -$27M | -$18M | -$26M | -$20M | -$29M | -$16M | -$69M | -$16M | -$17M | -$16M |
| Net borrowing | $74M | -$158M | -$144M | -$45M | -$110M | -$55M | $5M | $150M | -$100M | — |
| Free cash flow margin | 7.3% | 8.7% | 8.5% | 10.3% | 12.3% | 8.5% | 9.9% | 13.7% | 14.5% | 14.6% |
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Open WTS in InvestinglyQuestions
What was Watts Water Technologies's revenue in 2025?
$2.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Watts Water Technologies generate?
$356M in fiscal 2025 (operating cash flow minus capital spending).
From Watts Water Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.