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Makes plumbing and water-management products including commercial faucets, drains and water-safety valves.
Makes plumbing and water-management products including commercial faucets, drains and water-safety valves.
Products are specified by architects and engineers into building plans and bought by contractors through plumbing wholesalers, with replacement and code-driven upgrades supporting demand beyond new construction. The 2022 merger of Zurn with Elkay added drinking-water products such as bottle-filling stations.
Moat: narrow (brand, regulatory licence, distribution). Products tied to plumbing codes, with an established brand and wholesaler distribution network.
Headquarters: Milwaukee, Wisconsin, US · Founded: 2022 · Employees: 2,600
Size Zurn Elkay Water Solutions (ZWS) is a United States Industrials company (Industrial Machinery) with a market value of $7.18B, the 946th largest of 3,117 United States companies the cockpit tracks. Shares closed at $43.47 on 6 Nov 2026.
Performance Over six months the shares fell 15.1%, against -8.0% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 10.1% over the last twelve months (peer median +20.2%); the operating margin is 22.5% (peer median 12.8%).
Valuation It trades at 21.8× forward earnings against a peer median of 22.8× (10th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +13 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 6.9 points above its cost of capital (9.9% WACC).
Backlog Backlog (remaining performance obligations) was $72.3M at 31 Mar 2025, up 43% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 2.6% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.83B | $1.70B | $1.57B | $1.53B | $1.28B |
| Revenue growth | — | +8% | +2% | +19% | — |
| Gross profit | $862M | $706M | $648M | $589M | $432M |
| EBITDA | $497M | $377M | $346M | $306M | $177M |
| Net income | $291M | $198M | $160M | $113M | $57.0M |
| Free cash flow | $384M | $317M | $272M | $233M | $89.4M |
| Capital expenditure | $25.3M | $29.9M | $21.8M | $21.3M | $7.60M |
| Total debt | $548M | $553M | $552M | $543M | $580M |
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 |
|---|---|---|---|---|---|---|
| Zurn Elkay Water Solutions ZWS | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% |
| Watts Water Technologies WTS | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% |
| Xylem XYL | $22.4B | -14% | +2% | 16% | 17.4× | 12.1% |
| Fortune Brands Innovations FBIN | $5.74B | +27% | -3% | 14% | 19.7× | 5.3% |
| Masco MAS | $15.8B | +15% | +1% | 18% | 18.0× | 4.9% |
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 | ZWS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | -10.5% | 10th highest of 21 |
| 6-month return | -15.1% | -8.0% | 8th lowest of 20 |
| Distance from 52-week high | -21.0% | -40.9% | 7th highest of 21 |
| Revenue growth (TTM) | +10.1% | +20.2% | 8th lowest of 21 |
| Operating margin | 22.5% | 12.8% | 4th highest of 21 |
| Forward P/E | 21.8× | 22.8× | 10th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 10.9% | 16.4% | 7th least demanding of 17 |
| Growth delivered (Del g) | -2.4% | +11.8% | 2nd lowest of 17 |
| Hurdle (Req g minus delivered) | +13.2 pp | +4.6 pp | 6th most demanding of 17 |
| ROIC minus cost of capital | +6.9 pp | -0.8 pp | 5th highest of 21 |
| EV / EBITDA | 14.9× | 12.2× | 4th most expensive of 10 |
| Net debt / EBITDA | 0.5× | 0.7× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zurn Elkay Water Solutions ZWS | United States | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% | -2.4% |
| Shenzhen Envicool Technology 002837.SZ | China | $7.13B | -49% | +22% | 9% | 53.5× | 56.2% | +29.0% |
| Spirax SPX.L | United Kingdom | $7.24B | +2% | +5% | 18% | 22.7× | 20.5% | +7.4% |
| Timken TKR | United States | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% | +5.5% |
| Robotechnik Intelligent Technology 300757.SZ | China | $7.37B | -42% | +203% | 9% | 219.2× | n/a | n/a |
| Sulzer SUN.SW | Switzerland | $7.39B | +23% | -3% | 13% | 17.9× | -1.4% | +3.7% |
| Beijing Huafeng Test & Control Technology 688200.SS | China | $6.87B | -4% | +44% | 36% | 50.0× | 47.7% | +27.6% |
| Zoomlion Heavy Industry Science & Technology 000157.SZ | China | $7.61B | -22% | +14% | 7% | 11.2× | 2.8% | -4.3% |
| Kokusai Electric 6525.T | Japan | $7.62B | -21% | +15% | 19% | 20.0× | 30.9% | -1.5% |
| Zhejiang Jingsheng Mechanical & Electrical 300316.SZ | China | $7.69B | -13% | -25% | 0% | 74.3× | 39.6% | +24.6% |
| JBT Marel JBTM | United States | $6.66B | -8% | +20% | 10% | 14.2× | 12.7% | +17.0% |
| Leader Harmonious Drive Systems 688017.SS | China | $7.84B | +27% | +46% | 15% | 283.8× | n/a | n/a |
| KINGSEMI 688037.SS | China | $6.56B | -7% | +41% | -5% | 264.1× | n/a | n/a |
| Wuxi Lead Intelligent Equipment 300450.SZ | China | $7.88B | -41% | +28% | 10% | 22.9× | 10.4% | +19.9% |
| Rational Aktiengesellschaft RAA.DE | Germany | $7.95B | -4% | +6% | 27% | 26.1× | 14.8% | +14.2% |
| Han's Laser Technology Industry 002008.SZ | China | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% | +9.5% |
| INDO-MIM INDOMIM.NS | India | $6.39B | n/a | +26% | 20% | 60.8× | 30.3% | +15.8% |
| GlobalWafers 6488.TWO | Taiwan | $8.15B | -23% | -6% | 11% | 21.4× | n/a | n/a |
| MISUMI 9962.T | Japan | $6.25B | +3% | +24% | 13% | 17.9× | 9.3% | +7.3% |
| Middleby MIDD | United States | $6.17B | +3% | -7% | 17% | 18.5× | 6.9% | +5.0% |
| Shanghai BOCHU Electronic Technology 688188.SS | China | $6.16B | 0% | +20% | 44% | 29.6× | 18.0% | +30.9% |
Zurn Elkay Water Solutions reported $72.3M of remaining performance obligations at 31 Mar 2025, up 43% from a year earlier and up 48% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.06.