FirmAtlas
Company handbook · XYL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
XYL · CIK 1524472 · LATEST FILING: 10-Q JUN '26 · FILED JUL 28, 2026
Xylem Inc.
$104.05
+0.68 (+0.66%)
Close, Oct 16, 2026 · 52-week $99–154
Last fiscal year
Xylem Inc. reported revenue of $9.0B for the year ended Dec 31, 2025 (FY25), up 5.5% from FY24. Net income was $957M, operating cash flow $1.2B and free cash flow $910M. Source: 10-K filed Feb 25, 2026.
Market cap
$25.3B
P/E
24.9
EV/EBITDA
14.7x
P/B
2.4
Div yield
1.62%
ROIC
8.2%
Revenue 1Y
5.5%/yr
EPS 1Y
7.4%/yr
Shares 1Y
+0.2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOMatthew F. Pine
HQWashington, DC
AuditorDeloitte & Touche LLP
Employees22,000
Year endsDecember
Revenue by segment · FY25
Water Infrastructure29%
Water Solutions Services27%
Measurementand Control Solutions23%
Applied Water20%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
7.7%
−3.6%
4.2%
−28.2%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.8B deployed
Capex
$652M
36.5%
Acquisitions
$356M
20.0%
Dividends
$741M
41.5%
Buybacks
$35M
2.0%
Operating cash flow over the period: $2.5B. Total debt changed by +$419M. R&D of $456M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
8,562
9,035+5.5%
9,126
YoY
+5.5%
Gross profit
3,212
3,475+8.2%
3,581
Gross margin
37.5%
38.5%+0.9 pp
—
Operating income
1,009
1,223+21.2%
1,321
Operating margin
11.8%
13.5%+1.8 pp
—
EBITDA
1,571
1,798+14.4%
—
EBITDA margin
18.3%
19.9%+1.6 pp
—
Interest expense
44
29−34.1%
—
Interest coverage
35.70x
62.00x+26.30x
—
Net income
890
957+7.5%
1,018
YoY
+7.5%
Net margin
10.4%
10.6%+0.2 pp
—
EPS (diluted, $)
3.65
3.92+7.4%
4.21
YoY
+7.4%
Balance sheet
Total assets
16,493
17,634+6.9%
17,342
Cash & short-term investments
1,121
1,479+31.9%
—
Accounts receivable
1,668
1,759+5.5%
—
Inventory
996
983−1.3%
—
Net PP&E
1,152
1,159+0.6%
—
Other assets
11,556
12,254+6.0%
—
Total liabilities
5,851
6,154+5.2%
6,921
Accounts payable
1,006
1,013+0.7%
—
Total debt
2,069
2,488+20.3%
2,947
Other liabilities
2,776
2,653−4.4%
—
Shareholders’ equity
10,642
11,480+7.9%
10,421
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,263
1,241−1.7%
1,301
Net income
890
950+6.7%
—
Depreciation & amortization
562
575+2.3%
—
Stock-based compensation
56
53−5.4%
—
Working capital & other
(245)
(337)n/m
—
Cash from investing
(482)
(471)n/m
—
Capex
(321)
(331)n/m
—
PP&E sold
4
17+325.0%
—
Acquisitions
(193)
(163)n/m
—
Investments bought
(17)
(49)n/m
—
Investments sold / matured
6
8+33.3%
—
Other investing
39
47+20.5%
—
Cash from financing
(615)
(501)n/m
—
Debt raised
1
0−100.0%
—
Debt repaid
(17)
(82)n/m
—
Dividends
(350)
(391)n/m
—
Buybacks
(20)
(15)n/m
—
Shares issued
67
20−70.1%
—
Other financing
(296)
(33)n/m
—
Net change in cash
102
358+251.0%
—
Free cash flow (OCF − capex)
942
910−3.4%
960
Where the cash went
Operating cash flow
1,263
1,241−1.7%
1,301
Reinvested in the business
514
494−3.9%
—
% of operating cash flow
40.7%
39.8%
Capex
321
331+3.1%
341
Acquisitions
193
163−15.5%
—
R&D (memo, already in costs)
230
226−1.7%
—
Free cash flow
942
910−3.4%
960
YoY
−3.4%
Returned to shareholders
370
406+9.7%
—
% of free cash flow
39.3%
44.6%
Dividends
350
391+11.7%
—
Buybacks
20
15−25.0%
—
Change in total debt
—
419
—
Cash left over
—
760
—
FCF conversion (FCF ÷ net income)
105.8%
95.1%−10.8 pp
—
Owner earnings
—
1,130
—
Owner earnings margin
—
12.5%
—
Buyback yield
0.1%
0.0%−0.0 pp
—
Returns & ratios
ROIC (all capital)
7.1%
8.2%+1.0 pp
—
ROIC (operating)
29.4%
34.5%+5.1 pp
—
Net debt / EBITDA
0.60x
0.56x−0.04x
—
Debt / equity
0.19x
0.22x+0.02x
—
Cash conversion cycle (days)
70
69−1 d
—
ROE
8.4%
8.3%−0.0 pp
—
ROA
5.4%
5.4%+0.0 pp
—
ROCE
7.1%
8.3%+1.1 pp
—
NOPAT
826
984+19.1%
—
Invested capital (operating)
2,810
2,888+2.8%
—
Invested capital (all)
11,590
12,489+7.8%
—
Reinvestment rate
—
7.9%
—
Debtor days
71
71−0 d
—
Inventory days
68
65−3 d
—
Days payable
69
67−2 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
2,268
2,397
2,125
2,336
vs year-ago quarter
Gross profit
883
932
803
963
Gross margin
38.9%
38.9%
37.8%
41.2%
Operating income
334
353
244
390
Net income
227
335
193
263
vs year-ago quarter
Net margin
10.0%
14.0%
9.1%
11.3%
EPS (diluted, $)
0.93
1.38
0.79
1.11
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
17,295
17,634
16,954
17,342
Cash & equivalents
1,191
1,479
808
1,276
Total debt
1,975
2,488
1,950
2,947
Shareholders’ equity
11,207
11,480
10,972
10,421
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
360
543
108
290
Capex
79
83
90
89
Free cash flow
281
460
18
201
vs year-ago quarter