Financials

Watts Water Technologies Inc. financials

WTS Building Products

Watts Water Technologies Inc., founded in 1888 and headquartered in North Andover, Massachusetts, United States, is a leading manufacturer of water control and quality products. The company generates revenue from a diversified portfolio including pressure reducing valves, water filtration systems, and backflow prevention devices, catering to a broad customer base. Under CEO Kevin S. Cronin’s leadership, Watts leverages innovative technologies and a solid distribution network to secure an estimated 10% market share in its sector. With strategic investments in digital integration and R&D, the company is well-positioned for steady growth.

Snapshot

Watts Water Technologies Inc. reported $2.44B in revenue in fiscal 2025, up 8.3% year over year, with an operating margin of 18.4%.

Revenue (FY2025): $2.44B
YoY growth: +8.3%
Operating margin: 18.4%
Direction: Expanding

Financial statements

In thousands, USD · annual

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	2,438,500	2,252,200	2,056,300	1,979,500
Cost of Sales	1,232,500	1,190,200	1,095,400	1,105,200
Gross Profit	1,206,000	1,062,000	960,900	874,300
Selling, General & Administrative Expenses	734,200	664,400	604,500	548,700
Other Operating Expenses	23,700	7,200	5,500	10,600
Operating Profit	448,100	390,400	350,900	315,000
Interest and Investment Income	9,800	8,900	7,200	600
Interest Expense	(10,800)	(14,700)	(8,200)	(7,000)
Non-Operating Income	(1,300)	1,400	(400)	(1,000)
Total Non-Operating Income	(2,300)	(4,400)	(1,400)	(7,400)
Income Before Provision for Income Taxes	445,800	386,000	349,500	307,600
Provision for Income Taxes	105,000	94,800	87,400	56,100
Consolidated Net Income	340,800	291,200	262,100	251,500
Net Income Attributable to Common Shareholders	340,800	291,200	262,100	251,500
Basic EPS	10.17	8.70	7.85	7.51
Diluted EPS	10.17	8.69	7.82	7.48
Basic Weighted Average Shares Outstanding	33,500	33,500	33,400	33,500
Diluted Weighted Average Shares Outstanding	33,500	33,500	33,500	33,600
Shares Outstanding	33,343	33,320	33,311	33,273

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	405,500	386,900	350,100	310,800
Total Cash and Cash Equivalents	405,500	386,900	350,100	310,800
Accounts Receivable	294,000	253,200	259,800	233,800
Total Trade Receivables	294,000	253,200	259,800	233,800
Inventories	524,300	392,100	399,300	375,600
Other Current Assets	62,300	51,300	51,800	30,400
Total Current Assets	1,286,100	1,083,500	1,061,000	950,600
Net Property, Plant & Equipment	297,100	254,800	248,200	196,800
Net Intangible Assets	294,600	235,000	216,100	113,700
Goodwill	859,000	715,000	693,000	592,400
Other Long-Term Assets	144,400	108,700	91,100	77,400
Total Assets	2,881,200	2,397,000	2,309,400	1,930,900
Accounts Payable	182,200	148,000	131,800	134,300
Accrued Expenses	330,200	269,900	274,000	244,400
Total Current Liabilities	512,400	417,900	405,800	378,700
Long-Term Debt	197,700	197,000	298,300	147,600
Other Long-Term Liabilities	143,400	74,200	92,000	104,000
Total Long-Term Liabilities	341,100	271,200	390,300	251,600
Total Liabilities	853,500	689,100	796,100	630,300
Common Stock	3,300	3,300	3,300	3,300
Additional Paid-in Capital	720,600	696,200	674,300	651,900
Accumulated Other Comprehensive Income	(127,500)	(176,400)	(143,400)	(149,900)
Retained Earnings	1,431,300	1,184,800	979,100	795,300
Total Common Shareholders' Equity	2,027,700	1,707,900	1,513,300	1,300,600
Total Shareholders' Equity	2,027,700	1,707,900	1,513,300	1,300,600
Total Liabilities and Shareholders' Equity	2,881,200	2,397,000	2,309,400	1,930,900

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	340,800	291,200	262,100	251,500
Depreciation & Amortization	58,400	54,400	43,300	39,700
Share-Based Compensation Expense	21,200	19,500	20,200	18,400
Other Adjustments	38,800	(19,900)	(18,600)	(29,800)
Changes in Trade Receivables	(9,500)	3,300	6,200	(20,000)
Changes in Inventories	(75,400)	13,600	27,000	(16,400)
Changes in Accounts Payable	45,800	8,000	(8,800)	(21,300)
Changes in Other Operating Activities	(18,100)	(9,000)	(20,600)	1,900
Cash from Operating Activities	402,000	361,100	310,800	224,000
Capital Expenditure	(45,700)	(35,300)	(29,700)	(28,100)
Proceeds from Sale of Property, Plant & Equipment	—	5,900	—	5,200
Payments for Business Acquisitions	(257,100)	(96,300)	(313,400)	—
Other Investing Activities	—	1,000	—	—
Cash from Investing Activities	(302,800)	(124,700)	(343,100)	(22,900)
Issuance of Long-Term Debt	—	—	240,000	85,000
Repayments of Long-Term Debt	—	(100,000)	(90,000)	(80,000)
Net Issuance / (Repayments) of Long-Term Debt	—	(100,000)	150,000	5,000
Issuance of Common Shares	—	—	100	200
Repurchases of Common Shares	(16,000)	(17,000)	(16,000)	(69,400)
Net Issuance / (Repurchases) of Common Shares	(16,000)	(17,000)	(15,900)	(69,200)
Common Share Dividends Paid	(66,900)	(55,500)	(46,500)	(39,500)
Other Financing Activities	(14,000)	(15,700)	(20,900)	(18,000)
Cash from Financing Activities	(96,900)	(190,500)	69,000	(121,700)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	16,300	(9,100)	2,600	(10,600)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	18,600	36,800	39,300	68,800

Quarterly trend

last 8 quarters

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q1 2026	$677M	+21.4%	19.6%	$133M
Q4 2025	$625M	+15.7%	18.2%	$114M
Q3 2025	$612M	+12.5%	18.2%	$111M
Q2 2025	$644M	+7.8%	21.0%	$135M
Q1 2025	$558M	—	15.7%	$88M
Q4 2024	$540M	—	16.5%	$89M
Q3 2024	$544M	—	17.1%	$93M
Q2 2024	$597M	—	18.7%	$112M

Revenue by quarter$M

$597M

Q2 '24

$544M

Q3 '24

$540M

Q4 '24

$558M

Q1 '25

$644M

Q2 '25

$612M

Q3 '25

$625M

Q4 '25

$677M

Q1 '26

49.5%

Gross margin

18.4%

Operating margin

14.0%

Net margin

SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated2026-06-10

Snapshot

Financial statements

Quarterly trend

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