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Makes water safety and control products including valves, backflow preventers and plumbing components.
Makes water safety and control products including valves, backflow preventers and plumbing components.
Sells mainly through plumbing wholesalers to contractors, and many products, such as backflow preventers that keep dirty water out of the drinking supply, are required by code and tested regularly, so replacement demand recurs. North America is the largest region, followed by Europe.
Moat: narrow (brand, regulatory licence, distribution). Products often required by plumbing codes, and a long-standing brand/distribution network among plumbing wholesalers.
Headquarters: North Andover, Massachusetts, US · Founded: 1874 · Employees: 5,700
Size Watts Water Technologies (WTS) is a United States Industrials company (Industrial Machinery) with a market value of $11.6B, the 714th largest of 3,117 United States companies the cockpit tracks. Shares closed at $346.14 on 6 Nov 2026.
Performance Over six months the shares gained 16.6%, against -11.9% 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 17.1% over the last twelve months (peer median +8.3%); the operating margin is 19.5% (peer median 16.1%).
Valuation It trades at 24.6× forward earnings against a peer median of 21.5× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 16% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +6 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 10.7 points above its cost of capital (10.5% WACC).
Short interest Short interest is 2.8% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.68B | $2.44B | $2.25B | $2.06B | $1.98B |
| Revenue growth | — | +8% | +10% | +4% | — |
| Gross profit | $1.31B | $1.20B | $1.06B | $961M | $874M |
| EBITDA | $583M | $530M | $452M | $400M | $364M |
| Net income | $384M | $341M | $291M | $262M | $252M |
| Free cash flow | $349M | $356M | $324M | $281M | $196M |
| Capital expenditure | $48.5M | $45.7M | $35.3M | $29.7M | $28.1M |
| Total debt | $108M | $292M | $251M | $355M | $199M |
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 |
|---|---|---|---|---|---|---|
| Watts Water Technologies WTS | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% |
| Zurn Elkay Water Solutions ZWS | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% |
| Xylem XYL | $22.4B | -14% | +2% | 16% | 17.4× | 12.1% |
| Reliance Worldwide RWC.AX | $2.33B | +47% | -5% | 12% | 16.3× | 9.9% |
| Aalberts AALB.AS | $4.87B | +6% | 0% | 10% | 14.6× | 12.9% |
| Mueller Water Products MWA | $3.75B | -9% | +6% | 21% | 15.3× | 2.4% |
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 | WTS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.3% | -7.1% | 7th highest of 21 |
| 6-month return | +16.6% | -11.9% | 4th highest of 21 |
| Distance from 52-week high | -12.3% | -39.7% | 5th highest of 21 |
| Revenue growth (TTM) | +17.1% | +8.3% | 6th highest of 21 |
| Operating margin | 19.5% | 16.1% | 7th highest of 21 |
| Forward P/E | 24.6× | 21.5× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 15.8% | 13.4% | 3rd most demanding of 15 |
| Growth delivered (Del g) | +10.1% | +8.4% | 6th highest of 15 |
| Hurdle (Req g minus delivered) | +5.8 pp | +3.0 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | +10.7 pp | +4.2 pp | 6th highest of 21 |
| EV / EBITDA | 19.4× | 15.1× | 2nd most expensive of 15 |
| Net debt / EBITDA | -0.4× | 1.2× | 2nd least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Lennox International LII | United States | $11.7B | -34% | +2% | 19% | 15.3× | 5.0% | +7.4% |
| Zhejiang Sanhua Intelligent Controls 2050.HK | Hong Kong | $11.9B | -38% | +8% | 15% | 18.4× | 8.7% | +19.9% |
| BELIMO BEAN.SW | Switzerland | $11.0B | +1% | +20% | 21% | 37.2× | 12.5% | +11.1% |
| Daifuku 6383.T | Japan | $10.9B | -33% | +21% | 15% | 18.9× | 14.7% | +8.3% |
| Graco GGG | United States | $10.9B | -13% | +5% | 27% | 20.0× | 8.1% | +6.3% |
| Pentair PNR | United States | $10.9B | -11% | -4% | 22% | 13.2× | 7.1% | +6.7% |
| GEA Group Aktiengesellschaft G1A.DE | Germany | $12.6B | +25% | +4% | 12% | 21.0× | 5.8% | +3.5% |
| Flowserve FLS | United States | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% | +4.9% |
| Lifco LIFCO-B.ST | Sweden | $13.1B | +1% | +7% | 19% | 29.3× | 15.2% | +15.4% |
| Indutrade INDT.ST | Sweden | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% | +10.9% |
| Huagong Tech 000988.SZ | China | $9.54B | -47% | +16% | 7% | 30.9× | n/a | n/a |
| 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 |
| ACM Research (Shanghai) 688082.SS | China | $14.6B | +30% | +9% | 15% | 54.1× | n/a | n/a |
| Shenzhen Han's CNC Technology 301200.SZ | China | $9.08B | -25% | +98% | 21% | 32.1× | n/a | n/a |
| Lincoln Electric LECO | United States | $14.9B | +2% | +11% | 18% | 22.0× | 13.3% | +9.7% |
| Beijing E-Town Semiconductor Technology 688729.SS | China | $8.94B | -14% | +10% | 12% | 52.3× | n/a | n/a |
| IMI IMI.L | United Kingdom | $8.81B | +3% | +8% | 21% | 19.9× | 14.3% | +4.8% |