Zurn Elkay Water Solutions Corp

Listed Company

ZWSCIK 0001439288NYSELarge AcceleratedGeneral Industrial Machinery & EquipmentDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.70B

Net Income

$198.00M

Total Assets

$2.68B

Equity

$1.60B

Shares Out

166.87M

Op. Cash Flow

$346.50M

Business

Zurn Elkay Water Solutions Corp designs, procures, manufactures, and markets specification-driven water management solutions focused on health, hydration, safety and environmental impact. It offers professional-grade water safety and control products, flow systems, hygienic and environmental fixtures, and filtered drinking water and filtration products under brands such as Zurn, Elkay, Wilkins and others. The company organizes around key product platforms — water safety and control, flow systems, hygienic/environmental, and drinking water — that deliver engineered, project-critical solutions. Products are sold into institutional and commercial construction, waterworks and residential markets through an extensive network of independent sales representatives, plumbing wholesalers and industry-specific distributors across multiple countries.

Summary from filing dated 2025-02-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,696	1,567	1,531	1,282	911
Cost of sales	931	860	882	816	538
Gross profit	765	707	648	466	373
Selling, general and administrative expenses	418	390	371	309	239
Restructuring and other similar charges	10	14	15	15	4
Loss on divestiture of asbestos liabilities and certain assets	0	0	11	0	0
Amortization of intangible assets	59	59	59	34	24
Income from operations	279	245	191	107	107
Interest expense, net	−29	−33	−39	−27	—
Loss on the extinguishment of debt	0	0	−900,000	0	−20
Actuarial gain on pension and other postretirement benefit obligations	500,000	1	2	2	1
Other income (expense), net	6	−6	−7	2	−700,000
Income before income taxes	256	207	147	84	52
Provision for income taxes	−64	−48	−43	−27	−3
Net income from continuing operations	192	159	104	57	50
Income from discontinued operations, net of tax	6	1	9	5	71
Net income	198	160	113	62	121
Continuing operations (in dollars per share)	1.14	0.92	0.6	0.38	0.41
Discontinued operations (in dollars per share)	0.03	0.01	0.05	0.03	0.59
Net income (in dollars per share)	1.17	0.93	0.65	0.41	1
Continuing operations (in dollars per share)	1.12	0.91	0.59	0.37	0.4
Discontinued operations (in dollars per share)	0.03	0.01	0.05	0.03	0.57
Net income (in dollars per share)	1.15	0.92	0.64	0.4	0.97
Basic (in shares)	169	172	174	152	121
Effect of dilutive equity awards (in shares)	3	3	3	2	4
Diluted (in shares)	171	175	177	154	125

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	301	198	137	125	97
Receivables, net	185	202	210	220	144
Inventories, net	274	273	278	367	185
Income taxes receivable	13	20	17	18	33
Other current assets	39	30	26	28	17
Total current assets	812	722	668	758	475
Property, plant and equipment, net	158	164	180	184	64
Intangible assets, net	835	892	952	1,010	179
Goodwill	795	794	796	777	254
Other assets	80	77	71	64	39
Total assets	2,679	2,649	2,667	2,864	1,078
Current maturities of debt	900,000	800,000	900,000	6	6
Trade payables	65	72	56	117	105
Compensation and benefits	41	38	31	19	22
Current portion of pension and other postretirement benefit obligations	1	1	1	2	1
Other current liabilities	151	136	132	146	106
Total current liabilities	259	248	221	289	240
Long-term debt	496	495	494	530	534
Pension and other postretirement benefit obligations	10	14	37	51	57
Deferred income taxes	190	197	210	221	3
Operating lease liability	42	43	37	34	9
Other liabilities	80	65	65	44	42
Total liabilities	1,076	1,062	1,064	1,249	951
Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 166,981,602 at December 31, 2025 and 170,308,023 at December 31, 2024	2	2	2	2	1
Additional paid-in capital	2,810	2,828	2,847	2,853	1,437
Retained deficit	−1,132	−1,169	−1,178	−1,165	−1,237
Accumulated other comprehensive loss	−77	−74	−68	−75	−75
Total stockholders' equity	1,603	1,587	1,603	1,615	126
Total liabilities and stockholders' equity	2,679	2,649	2,667	2,864	1,078

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	30	29	29	21	44
Amortization of intangible assets	59	59	59	34	33
Non-cash restructuring charges	3	8	3	0	—
Loss on divestiture of asbestos liabilities and certain assets	0	0	9	0	0
Divestiture of asbestos liabilities and certain assets	0	0	−13	0	0
Loss (gain) on dispositions of long-lived assets	4	600,000	−3	300,000	−10
Deferred income taxes	−5	−15	−4	500,000	−12
Other non-cash expenses	2	5	2	5	−4
Actuarial gain on pension and other postretirement benefit obligations	−500,000	−1	−2	−2	4
Pension curtailment and settlement	−11	0	0	—	—
Stock-based compensation expense	41	38	40	25	51
Receivables, net	18	6	10	16	−67
Inventories, net	−100,000	3	65	−18	−80
Other assets	7	1	3	37	−8
Accounts payable	−7	16	−61	−18	99
Accruals and other	8	−17	4	−64	30
Cash provided by operating activities	347	294	254	97	224
Expenditures for property, plant and equipment	−30	−22	−21	−8	−23
Proceeds from dispositions of long-lived assets	0	2	8	1	14
Proceeds from insurance claims	0	0	9	10	0
Cash used for investing activities	−30	−20	−5	−7	−22
Proceeds from borrowings of debt	0	0	13	102	550
Repayments of debt	−800,000	−800,000	−78	−108	−1,127
Proceeds from exercise of stock options and ESPP contributions	8	9	4	3	—
Taxes withheld and paid on employees' share-based payment awards	−600,000	−9	−3	−700,000	−32
Repurchase of common stock	−160	−150	−125	−25	−900,000
Payment of common stock dividends	−64	−57	−50	−33	−36
Cash used for financing activities	−217	−208	−239	−61	−356
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3	−5	2	−1	−5
Increase in cash, cash equivalents and restricted cash	103	61	12	28	−159

Filings

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