FLOWSERVE CORP

Listed Company

FLSCIK 0000030625NYSELarge AcceleratedPumps & Pumping EquipmentNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$4.73B

Net Income

$346.25M

Total Assets

$5.71B

Equity

$2.19B

Shares Out

127.81M

Op. Cash Flow

$505.88M

Business

Flowserve Corp is a world-leading manufacturer and aftermarket service provider of comprehensive flow control systems. It offers precision-engineered pumps, valves, mechanical seals, automation, IIoT (RedRaven) solutions and aftermarket services including installation, diagnostics, maintenance and turnkey programs. The company operates through two segments: Flowserve Pumps Division (pumps, seals, pump systems and related services) and Flow Control Division (isolation and control valves, actuation, automation and engineered services). It serves global infrastructure industries — oil & gas, chemical, power, nuclear, water and general industries — via direct sales, EPCs, distributors and a network of Quick Response Centers.

Summary from filing dated 2025-02-26

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
Sales	4,729	4,558	4,321	3,615	3,541
Cost of sales	−3,148	−3,124	−3,044	−2,621	−2,491
Gross profit	1,581	1,434	1,277	994	1,050
Selling, general and administrative expense	−1,062	−978	−961	−816	−797
Net earnings from affiliates	21	19	18	18	16
Operating income	400	462	334	197	271
Interest expense	−78	−69	−67	−46	−58
Interest income	8	5	7	4	3
Other income (expense), net	196	−12	−50	−559,000	−36
Earnings before income taxes	525	386	224	154	134
Provision for income taxes	−156	−85	−19	44	3
Net earnings, including noncontrolling interests	370	301	205	198	136
Less: net earnings attributable to noncontrolling interests	−24	−18	−18	−9	−10
Net earnings attributable to Flowserve Corporation	346	283	187	189	126
Basic (in dollars per share)	2.66	2.15	1.42	1.44	0.97
Diluted (in dollars per share)	2.64	2.14	1.42	1.44	0.96
Weighted average shares - basic (in shares)	130	131	131	131	130
Weighted average shares - diluted (in shares)	131	132	132	131	131

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	760	675	546	435	658
Accounts receivable, net of allowance for expected credit losses of $83,094 and $79,059, respectively	1,029	977	882	869	739
Contract assets, net	322	299	280	233	196
Inventories	790	837	880	803	678
Prepaid expenses and other	141	116	116	111	117
Total current assets	3,043	2,904	2,704	2,451	2,389
Property, plant and equipment, net	567	540	506	501	516
Operating lease right-of-use asset, net	166	159	156	175	194
Goodwill	1,392	1,286	1,182	1,168	1,196
Deferred taxes	156	222	218	149	44
Other intangible assets, net	198	189	122	135	152
Other assets, net	186	201	220	212	258
Total assets	5,708	5,501	5,109	4,791	4,750
Accounts payable	554	545	548	477	410
Accrued liabilities	587	561	504	428	445
Contract liabilities	275	284	288	257	203
Debt due within one year	50	44	66	49	41
Operating lease liabilities	36	34	32	33	33
Total current liabilities	1,502	1,468	1,439	1,243	1,132
Long-term debt due after one year	1,525	1,460	1,167	1,224	1,262
Operating lease liabilities	150	150	139	155	167
Retirement obligations and other liabilities	277	371	389	310	352
Preferred shares, $1.00 par value	0	0	—	—	—
Common shares, $1.25 par value	221	221	221	221	221
Shares authorized 305,000	509	502	507	507	506
Retained earnings	4,262	4,026	3,855	3,774	3,691
Treasury shares, at cost 49,763 and 45,688 shares, respectively	−2,232	−2,008	−2,014	−2,037	−2,058
Deferred compensation obligation	7	8	8	7	7
Accumulated other comprehensive loss	−575	−741	−640	−648	−564
Total Flowserve Corporation shareholders' equity	2,191	2,008	1,936	1,825	1,804
Noncontrolling interests	63	44	39	34	33
Total equity	2,254	2,052	1,975	1,859	1,837
Total liabilities and equity	5,708	5,501	5,109	4,791	4,750

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	79	76	73	78	85
Amortization of intangible and other assets	16	10	10	13	15
Contribution to divest asbestos-related assets and liabilities	−199	0	0	—	—
Stock-based compensation	38	30	28	26	29
Foreign currency, asset write downs and other non-cash adjustments	−15	24	−17	−28	30
Accounts receivable, net	691,000	−82	5	−152	−9
Inventories	87	39	−60	−147	−32
Contract assets, net	−13	−19	−41	−42	74
Prepaid expenses and other assets, net	−56	15	8	17	1
Accounts payable	−29	−12	53	79	−20
Contract liabilities	−24	−6	27	62	14
Accrued liabilities	25	50	59	−5	−14
Retirement obligations and other liabilities	38	1	38	−1	−16
Net deferred taxes	48	−15	−63	−137	−91
Net cash flows provided by operating activities	506	425	326	−40	250
Capital expenditures	−71	−81	−67	−76	−55
Payments for acquisitions, net of cash acquired	−66	−306	0	0	—
Proceeds from disposal of assets	12	2	2	4	3
Payments for disposition of business	0	−3	0	0	—
Affiliate investment activity	96,000	40,000	−3	—	—
Net cash flows used by investing activities	−125	−387	−69	−6	−59
Payments on term loan	−38	−95	−40	−33	−8
Proceeds from term loan	0	366	0	0	300
Proceeds under revolving credit facility	200	100	280	45	0
Payments under revolving credit facility	−100	−100	−280	−45	0
Proceeds under other financing arrangements	15	1	1	2	1
Payments under other financing arrangements	−6	−1	−3	−2	−2
Payments related to tax withholding for stock-based compensation	−12	−10	−6	−5	−6
Repurchases of common shares	−255	−20	0	0	−18
Payments of dividends	−110	−110	−105	−105	−105
Contingent consideration payment related to acquired business	−15	0	0	—	—
Other	−8	−13	−324,000	−8	−11
Net cash flows (used) provided by financing activities	−327	117	−153	−150	−600
Effect of exchange rate changes on cash and cash equivalents	31	−26	7	−27	−28
Net change in cash and cash equivalents	85	130	111	−223	−437
Income taxes paid (net of refunds)	92	81	119	60	66
Interest paid	75	67	65	42	—
Contingent liabilities incurred related to acquired business, but not paid	674,000	15	0	0	—

Filings

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