Zurn Elkay Water Solutions Corporation (ZWS) Balance Sheet
ZWS balance sheet, 2025
December 31, 2025 · U.S. dollars$2.68B assets = $1.08B liabilities + $1.60B equity
Both columns are drawn to the same scale: what ZWS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ZWS financial health
Descriptive bands, not a rating. Fiscal 2025.
ZWS balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.54B2016 | $2.68B2025 | −3.0%/yr | |
| Total liabilities | $2.47B2016 | $1.08B2025 | −8.8%/yr | |
| Shareholders’ equity | $1.07B2016 | $1.60B2025 | +4.6%/yr | |
| Cash & short-term investments | $490.1M2016 | $300.5M2025 | −5.3%/yr | |
| Total debt | $1.62B2016 | $580.5M2025 | −10.8%/yr | |
| Net cash (debt) | −$1.13B2016 | −$280.0M2025 | +$852.6M | |
| Working capital | $777.8M2016 | $552.3M2025 | −$225.5M | |
| Book value per share | $10.222016 | $9.362025 | −1.0%/yr | |
| Current ratio | 2.942016 | 3.132025 | +0.19 | |
| Debt / equity | 1.522016 | 0.362025 | −1.15 | |
| Shares outstanding | 104.8M2016 | 171.3M2025 | +5.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ZWS assets
ZWS liabilities and equity
ZWS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ZWS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $300.5M | $198.0M | $136.7M | $124.8M | $96.6M | $62.3M | $292.5M | $292.5M | $217.6M | $490.1M |
| Cash & equivalents | $300.5M | $198.0M | $136.7M | $124.8M | $96.6M | $62.3M | $292.5M | $292.5M | $217.6M | $490.1M |
| Receivables | $198.1M | $221.8M | $227.2M | $238.0M | $177.2M | $103.6M | $337.6M | $337.6M | $392.3M | $322.9M |
| Inventory | $274.4M | $272.6M | $277.6M | $366.7M | $184.5M | $136.1M | $316.5M | $316.5M | $344.8M | $314.9M |
| Other current assets | $38.7M | $29.7M | $26.3M | $28.0M | $16.5M | $605.7M | $36.3M | $36.3M | $43.0M | $50.2M |
| Total current assets | $811.7M | $722.1M | $667.8M | $757.5M | $474.8M | $907.7M | $982.9M | $982.9M | $997.7M | $1.18B |
| Property, plant & equipment (net) | $157.6M | $164.0M | $180.3M | $183.8M | $64.4M | $87.7M | $383.0M | $383.0M | $396.5M | $400.9M |
| Goodwill & intangible assets | $1.63B | $1.69B | $1.75B | $1.79B | $433.2M | $445.1M | $1.81B | $1.81B | $1.85B | $1.88B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $80.1M | $76.6M | $70.5M | $136.0M | $105.3M | $1.96B | $82.6M | $82.6M | $175.9M | $83.5M |
| Total assets | $2.68B | $2.65B | $2.67B | $2.86B | $1.08B | $3.40B | $3.26B | $3.26B | $3.42B | $3.54B |
| Liabilities | ||||||||||
| Accounts payable | $65.2M | $71.7M | $56.4M | $116.9M | $105.1M | $41.3M | $191.7M | $191.7M | $226.0M | $197.8M |
| Short-term debt | $900,000 | $13.5M | $11.5M | $15.1M | $11.7M | $1.19B | $1.2M | $1.2M | $3.9M | $16.5M |
| Deferred revenue | — | — | $3.5M | $221.4M | $23.3M | $4.0M | $5.1M | $5.1M | $3.2M | $10.9M |
| Total current liabilities | $259.4M | $247.8M | $220.9M | $289.3M | $240.4M | $317.5M | $397.0M | $397.0M | $454.2M | $400.3M |
| Long-term debt | $495.6M | $494.8M | $494.4M | $530.2M | $533.9M | $1.19B | $1.40B | $1.24B | $1.35B | $1.61B |
| Lease obligations | $76.8M | $76.6M | $69.6M | $44.2M | $15.0M | — | $12.8M | — | — | — |
| Other long-term liabilities | $321.1M | $319.1M | $348.9M | $429.5M | $177.0M | $0 | $234.7M | $394.9M | $404.6M | $462.2M |
| Total liabilities | $1.08B | $1.06B | $1.06B | $1.25B | $951.3M | $1.96B | $2.03B | $2.03B | $2.21B | $2.47B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.7M | $1.7M | $1.7M | $1.8M | $1.3M | $1.2M | $1.0M | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | −$1.13B | −$1.17B | −$1.18B | −$1.16B | −$1.24B | $116.0M | $30.7M | $30.7M | $8.0M | −$55.5M |
| Accumulated other comprehensive income | −$76.7M | −$74.4M | −$67.7M | −$75.0M | −$74.9M | −$73.0M | −$96.6M | −$96.6M | −$74.1M | −$137.0M |
| Minority interest | — | — | $0 | $0 | — | — | — | — | — | — |
| Total shareholders' equity | $1.60B | $1.59B | $1.60B | $1.61B | $126.4M | $1.44B | $1.23B | $1.23B | $1.21B | $1.07B |
| Key figures | ||||||||||
| Total debt | $580.5M | $551.6M | $543.2M | $579.5M | $554.5M | $2.38B | $1.40B | $1.24B | $1.36B | $1.62B |
| Net cash (debt) | −$280.0M | −$353.6M | −$406.5M | −$454.7M | −$457.9M | −$2.31B | −$1.11B | −$945.5M | −$1.14B | −$1.13B |
| Working capital | $552.3M | $474.3M | $446.9M | $468.2M | $234.4M | $590.2M | $585.9M | $585.9M | $543.5M | $777.8M |
| Tangible book value | −$26.7M | −$99.0M | −$145.6M | −$171.7M | −$306.8M | $994.2M | −$580.2M | −$582.6M | −$640.9M | −$806.2M |
| Book value per share | $9.36 | $9.09 | $9.04 | $10.50 | $1.01 | $11.68 | $9.98 | $9.96 | $11.44 | $10.22 |
| Shares outstanding | 171.3M | 174.7M | 177.3M | 153.8M | 125.1M | 123.2M | 123.3M | 123.3M | 106.0M | 104.8M |
| Current ratio | 3.13 | 2.91 | 3.02 | 2.62 | 1.98 | 2.86 | 2.48 | 2.48 | 2.20 | 2.94 |
| Quick ratio | 1.92 | 1.69 | 1.65 | 1.25 | 1.14 | 0.52 | 1.59 | 1.59 | 1.34 | 2.03 |
| Debt / equity | 0.36 | 0.35 | 0.34 | 0.36 | 4.39 | 1.65 | 1.14 | 1.01 | 1.12 | 1.52 |
| Equity / assets | 59.8% | 59.9% | 60.1% | 56.4% | 11.7% | 42.3% | 37.8% | 37.7% | 35.4% | 30.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $365.0M | $273.5M | $300.5M | $260.1M | $201.9M | $144.7M | $198.0M | $187.9M | $162.7M | $157.1M | $136.7M | $173.1M |
| Cash & equivalents | $365.0M | $273.5M | $300.5M | $260.1M | $201.9M | $144.7M | $198.0M | $187.9M | $162.7M | $157.1M | $136.7M | $173.1M |
| Receivables | $270.9M | $242.7M | $198.1M | $238.1M | $242.6M | $247.7M | $221.8M | $247.4M | $240.8M | $230.5M | $227.2M | $237.9M |
| Inventory | $287.3M | $292.3M | $274.4M | $273.2M | $275.8M | $280.6M | $272.6M | $278.6M | $276.2M | $286.6M | $277.6M | $284.3M |
| Other current assets | $29.9M | $28.0M | $38.7M | $29.3M | $33.7M | $24.4M | $29.7M | $41.2M | $43.5M | $22.3M | $26.3M | $26.0M |
| Total current assets | $953.1M | $836.5M | $811.7M | $800.7M | $754.0M | $697.4M | $722.1M | $755.1M | $723.2M | $696.5M | $667.8M | $721.3M |
| Property, plant & equipment (net) | $152.0M | $155.9M | $157.6M | $162.7M | $162.2M | $160.6M | $164.0M | $165.4M | $168.5M | $171.5M | $180.3M | $189.1M |
| Goodwill & intangible assets | $1.60B | $1.61B | $1.63B | $1.64B | $1.66B | $1.67B | $1.69B | $1.70B | $1.72B | $1.73B | $1.75B | $1.76B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $77.3M | $77.2M | $80.1M | $77.1M | $78.6M | $78.7M | $76.6M | $79.4M | $72.4M | $64.7M | $70.5M | $141.2M |
| Total assets | $2.78B | $2.68B | $2.68B | $2.68B | $2.65B | $2.61B | $2.65B | $2.70B | $2.68B | $2.66B | $2.67B | $2.81B |
| Liabilities | ||||||||||||
| Accounts payable | $96.2M | $99.0M | $65.2M | $82.2M | $88.9M | $95.0M | $71.7M | $94.7M | $77.9M | $70.2M | $56.4M | $60.7M |
| Short-term debt | $16.8M | $16.5M | $15.6M | $15.4M | $14.9M | $14.2M | $13.5M | $13.4M | $11.6M | $11.1M | $11.5M | $16.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | $8.9M | $3.4M | $3.5M | $51.5M |
| Total current liabilities | $312.2M | $258.5M | $259.4M | $288.2M | $278.3M | $242.6M | $247.8M | $279.2M | $255.1M | $210.6M | $220.9M | $229.8M |
| Long-term debt | $497.7M | $497.6M | $495.6M | $495.5M | $495.1M | $495.0M | $494.8M | $494.7M | $474.3M | $473.9M | $473.6M | $547.9M |
| Lease obligations | $51.4M | $53.2M | $76.8M | $58.2M | $80.6M | $81.5M | $76.6M | $79.7M | $70.9M | $66.4M | $69.6M | $71.8M |
| Other long-term liabilities | $312.1M | $239.4M | $321.1M | $308.8M | $316.5M | $322.7M | $319.1M | $344.4M | $357.7M | $365.8M | $369.7M | $423.6M |
| Total liabilities | $1.12B | $1.08B | $1.08B | $1.09B | $1.09B | $1.06B | $1.06B | $1.12B | $1.09B | $1.05B | $1.06B | $1.20B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M |
| Retained earnings (deficit) | −$1.06B | −$1.12B | −$1.13B | −$1.15B | −$1.19B | −$1.20B | −$1.17B | −$1.19B | −$1.18B | −$1.16B | −$1.18B | −$1.17B |
| Accumulated other comprehensive income | −$80.8M | −$78.3M | −$76.7M | −$78.4M | −$69.7M | −$74.6M | −$74.4M | −$71.1M | −$71.7M | −$70.2M | −$67.7M | −$73.6M |
| Total shareholders' equity | $1.66B | $1.61B | $1.60B | $1.59B | $1.56B | $1.55B | $1.59B | $1.59B | $1.59B | $1.61B | $1.60B | $1.61B |
| Key figures | ||||||||||||
| Total debt | $550.5M | $552.2M | $595.2M | $554.6M | $556.3M | $556.9M | $551.6M | $554.3M | $545.2M | $540.3M | $543.2M | $604.2M |
| Net cash (debt) | −$185.5M | −$278.7M | −$294.7M | −$294.5M | −$354.4M | −$412.2M | −$353.6M | −$366.4M | −$382.5M | −$383.2M | −$406.5M | −$431.1M |
| Working capital | $640.9M | $578.0M | $552.3M | $512.5M | $475.7M | $454.8M | $474.3M | $475.9M | $468.1M | $485.9M | $446.9M | $491.5M |
| Tangible book value | $60.4M | −$8.0M | −$26.7M | −$52.0M | −$95.1M | −$123.6M | −$99.0M | −$118.4M | −$123.0M | −$117.6M | −$145.6M | −$149.7M |
| Book value per share | $9.80 | $9.47 | $9.41 | $9.35 | $9.20 | $8.99 | $9.18 | $9.17 | $9.11 | $9.19 | $9.11 | $9.15 |
| Shares outstanding | 169.2M | 169.7M | 170.3M | 170.3M | 170.1M | 172.2M | 172.9M | 173.0M | 175.0M | 175.7M | 175.9M | 176.1M |
| Current ratio | 3.05 | 3.24 | 3.13 | 2.78 | 2.71 | 2.87 | 2.91 | 2.70 | 2.83 | 3.31 | 3.02 | 3.14 |
| Quick ratio | 2.04 | 2.00 | 1.92 | 1.73 | 1.60 | 1.62 | 1.69 | 1.56 | 1.58 | 1.84 | 1.65 | 1.79 |
| Debt / equity | 0.33 | 0.34 | 0.37 | 0.35 | 0.36 | 0.36 | 0.35 | 0.35 | 0.34 | 0.33 | 0.34 | 0.37 |
| Equity / assets | 59.7% | 59.9% | 59.8% | 59.3% | 58.9% | 59.3% | 59.9% | 58.7% | 59.5% | 60.6% | 60.1% | 57.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 9, 2026); data from EODHD.
ZWS financial position
At the end of fiscal 2025 (December 31, 2025), Zurn Elkay Water Solutions had total assets of $2.7 billion (up 1.2% from a year earlier), total liabilities of $1.1 billion and shareholders' equity of $1.6 billion. It held $300.5 million in cash and short-term investments against $580.5 million of debt, net debt of $280.0 million. Its current ratio was 3.13. In the latest quarter (ended June 30, 2026) total assets were $2.8 billion and equity $1.7 billion.
Related: ZWS income statement, ZWS cash flow statement, ZWS key metrics. See the ZWS stock overview for the latest quote and news.
ZWS balance sheet FAQ
What are Zurn Elkay Water Solutions's total assets?
Zurn Elkay Water Solutions reported total assets of $2.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.6 billion a year earlier.
How much debt does Zurn Elkay Water Solutions have?
Zurn Elkay Water Solutions had $580.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.36.
How much cash does Zurn Elkay Water Solutions have?
Zurn Elkay Water Solutions held $300.5 million in cash and short-term investments at the end of fiscal 2025; with $580.5 million of debt that is net debt of $280.0 million.
What is Zurn Elkay Water Solutions's book value?
Zurn Elkay Water Solutions's shareholders' equity (book value) was $1.6 billion at the end of fiscal 2025, or $9.36 per share.
What is Zurn Elkay Water Solutions's current ratio?
Zurn Elkay Water Solutions had current assets of $811.7 million and current liabilities of $259.4 million, a current ratio of 3.13 (it can cover its short-term obligations).
How much goodwill does Zurn Elkay Water Solutions have?
Zurn Elkay Water Solutions carried $1.6 billion of goodwill and intangible assets, 60.8% of total assets, at the end of fiscal 2025.