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Makes industrial pumps, valves and seals used in flow-control applications for energy, chemical and process industries.
Makes industrial pumps, valves and seals used in flow-control applications for energy, chemical and process industries.
Earns roughly half its sales from aftermarket work, replacement parts, repair and service on the pumps and valves already running in customers' plants, which is steadier and higher-margin than new equipment sold by project. New equipment orders follow capital spending by energy and chemical firms. A large share of sales is outside the US.
Moat: narrow (installed base, customer qualification, scale). Large installed base of mission-critical flow-control equipment drives recurring aftermarket parts/service revenue.
Headquarters: Irving, Texas, US · Founded: 1997 · Employees: 16,000
Size Flowserve (FLS) is a United States Industrials company (Industrial Machinery) with a market value of $10.2B, the 765th largest of 3,117 United States companies the cockpit tracks. Shares closed at $80.37 on 6 Nov 2026.
Performance Over six months the shares gained 13.0%, against -16.3% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median +8.3%); the operating margin is 14.1% (peer median 16.1%).
Valuation It trades at 17.8× forward earnings against a peer median of 21.2× (4th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.9 points above its cost of capital (10.3% WACC).
Backlog Backlog (remaining performance obligations) was $1.21B at 30 Sep 2026, up 22% on a year earlier — 0.3 years of trailing revenue. Backlog detail →
Credit Flowserve has 3 bonds outstanding ($1.50B), rated BBB- by the agencies and trading like BBB at a weighted spread of 110 bp.
Short interest Short interest is 6.7% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.70B | $4.73B | $4.56B | $4.32B | $3.62B |
| Revenue growth | — | +4% | +5% | +20% | — |
| Gross profit | $1.69B | $1.64B | $1.47B | $1.30B | $995M |
| EBITDA | $772M | $709M | $601M | $488M | $284M |
| Net income | $255M | $346M | $283M | $187M | $189M |
| Free cash flow | $154M | $435M | $344M | $258M | -$116M |
| Capital expenditure | $76.4M | $70.9M | $81.0M | $67.4M | $76.3M |
| Total debt | $2.26B | $1.76B | $1.69B | $1.40B | $1.46B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Flowserve FLS | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% |
| Ingersoll Rand IR | $31.9B | +10% | +8% | 19% | 21.8× | 17.3% |
| Xylem XYL | $22.4B | -14% | +2% | 16% | 17.4× | 12.1% |
| Weir WEIR.L | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FLS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.4% | -7.1% | 2nd highest of 21 |
| 6-month return | +13.0% | -16.3% | 4th highest of 21 |
| Distance from 52-week high | -13.0% | -41.9% | 6th highest of 21 |
| Revenue growth (TTM) | +0.2% | +8.3% | 3rd lowest of 21 |
| Operating margin | 14.1% | 16.1% | 9th lowest of 21 |
| Forward P/E | 17.8× | 21.2× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 15.0% | 13.9% | 5th most demanding of 15 |
| Growth delivered (Del g) | +4.9% | +9.0% | 3rd lowest of 15 |
| Hurdle (Req g minus delivered) | +10.1 pp | +3.5 pp | 2nd most demanding of 15 |
| ROIC minus cost of capital | +2.9 pp | +5.0 pp | 10th lowest of 21 |
| EV / EBITDA | 15.3× | 15.0× | 7th most expensive of 14 |
| Net debt / EBITDA | 2.0× | 0.5× | 3rd most indebted of 14 |
| Bond spread | 110 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Flowserve FLS | United States | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% | +4.9% |
| Indutrade INDT.ST | Sweden | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% | +10.9% |
| Pentair PNR | United States | $10.9B | -11% | -4% | 22% | 13.2× | 7.1% | +6.7% |
| Graco GGG | United States | $10.9B | -13% | +5% | 27% | 20.0× | 8.1% | +6.3% |
| Huagong Tech 000988.SZ | China | $9.54B | -47% | +16% | 7% | 30.9× | n/a | n/a |
| Daifuku 6383.T | Japan | $10.9B | -33% | +21% | 15% | 18.9× | 14.7% | +8.3% |
| BELIMO BEAN.SW | Switzerland | $11.0B | +1% | +20% | 21% | 37.2× | 12.5% | +11.1% |
| Ebara 6361.T | Japan | $9.28B | -40% | +9% | 11% | 14.5× | n/a | n/a |
| NIBE Industrier NIBE-B.ST | Sweden | $9.25B | +7% | +2% | 10% | 27.3× | 13.5% | +8.5% |
| Guangdong Dtech Technology 301377.SZ | China | $9.23B | -18% | +119% | 36% | 50.9× | n/a | n/a |
| Shenzhen Han's CNC Technology 301200.SZ | China | $9.08B | -25% | +98% | 21% | 32.1× | n/a | n/a |
| Watts Water Technologies WTS | United States | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% | +10.1% |
| Madison Air Solutions MAIR | United States | $11.6B | -45% | +27% | 17% | 20.6× | 31.9% | +27.3% |
| Beijing E-Town Semiconductor Technology 688729.SS | China | $8.94B | -14% | +10% | 12% | 52.3× | n/a | n/a |
| Lennox International LII | United States | $11.7B | -34% | +2% | 19% | 15.3× | 5.0% | +7.4% |
| IMI IMI.L | United Kingdom | $8.81B | +3% | +8% | 21% | 19.9× | 14.3% | +4.8% |
| Zhejiang Sanhua Intelligent Controls 2050.HK | Hong Kong | $11.9B | -38% | +8% | 15% | 18.4× | 8.7% | +19.9% |
| GEA Group Aktiengesellschaft G1A.DE | Germany | $12.6B | +25% | +4% | 12% | 21.0× | 5.8% | +3.5% |
| GlobalWafers 6488.TWO | Taiwan | $8.15B | -23% | -6% | 11% | 21.4× | n/a | n/a |
| Han's Laser Technology Industry 002008.SZ | China | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% | +9.5% |
| Rational Aktiengesellschaft RAA.DE | Germany | $7.95B | -4% | +6% | 27% | 26.1× | 14.8% | +14.2% |
Flowserve has 3 bonds outstanding with $1.50B face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 5.79%, a spread of 110 bp over government bonds.
Flowserve reported $1.21B of remaining performance obligations at 30 Sep 2026, up 22% from a year earlier and up 10% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 1.09.