Xylem reported $3.19B of remaining performance obligations at 30 Sep 2026, up 61% from a year earlier and up 9% from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.12.
Net new backlog added in the latest quarter: $268M.
Over the last twelve months it turned about 426% of its opening backlog into revenue (12-month conversion).
Customer prepayments (contract liabilities) cover 9.3% of the backlog.
Twelve-month book-to-bill: 1.13, i.e. 1.13 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +60 points — orders are running ahead of revenue.
By backlog size it ranks 152nd among US filers the cockpit tracks.
Xylem backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$3.19B
$9.06B
0.4 yrs
$297M
30 Jun 2026
$2.92B
$9.13B
0.3 yrs
$272M
31 Mar 2026
$1.96B
$9.09B
0.2 yrs
$284M
31 Dec 2025
$1.93B
$9.04B
0.2 yrs
$286M
30 Sep 2025
$1.98B
$8.99B
0.2 yrs
$298M
30 Jun 2025
$1.80B
$8.83B
0.2 yrs
$305M
31 Mar 2025
$1.80B
$8.70B
0.2 yrs
$313M
30 Sep 2024
$1.20B
$8.42B
0.1 yrs
$294M
30 Jun 2024
$1.40B
$8.40B
0.2 yrs
$299M
31 Mar 2024
$978M
$7.95B
0.1 yrs
$313M
31 Dec 2023
$914M
$7.36B
0.1 yrs
$315M
30 Sep 2023
$964M
$6.75B
0.1 yrs
$294M
Questions
What is Xylem's backlog?
Xylem reported $3.19B of remaining performance obligations at 30 Sep 2026, up 61% from a year earlier and up 9% from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.12.
How fast does Xylem's backlog turn into revenue?
Over the last twelve months Xylem recognised revenue equal to about 426% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.