Zurn Elkay Water Solutions Corporation (ZWS) Income Statement
ZWS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsZWS revenue and net income
Where ZWS's revenue goes
2025Each bar shows an amount and its share of revenue. ZWS kept 11.7% of revenue as net income.
ZWS profit margins
ZWS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.3% | +9.8% | +24.7% | −1.3% |
| Gross profit | −0.1% | +14.9% | +22.8% | +0.6% |
| Operating income | +17.9% | +39.1% | +28.9% | +5.2% |
| Net income | +23.6% | +47.5% | +10.9% | +11.3% |
| EPS (diluted) | +18.8% | +15.8% | −3.0% | −0.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ZWS quarterly EPS vs estimates
Zurn Elkay Water Solutions beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 27, 2026 (estimate $0.50).
ZWS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.70B | $1.57B | $1.53B | $1.28B | $910.9M | $562.7M | $710.1M | $2.05B | $1.85B | $1.71B |
| Cost of revenue | $989.8M | $859.5M | $882.4M | $816.3M | $537.7M | $309.4M | $387.5M | $1.27B | $1.15B | $1.09B |
| Gross profit | $706.1M | $707.0M | $648.1M | $465.5M | $373.2M | $253.3M | $322.6M | $784.8M | $706.5M | $626.4M |
| Research & development | — | — | $23.7M | — | — | — | — | $41.7M | — | — |
| Sales, general & admin | $417.6M | $366.6M | $350.8M | $254.4M | $219.9M | $294.2M | $432.8M | $433.1M | $446.2M | $410.6M |
| Total operating expenses | $417.6M | $462.4M | $456.7M | $358.4M | $266.2M | $172.3M | $218.5M | $479.2M | $440.1M | $423.2M |
| Operating income | $288.5M | $244.6M | $191.4M | $107.1M | $107.0M | $81.0M | $104.1M | $305.6M | $266.4M | $203.2M |
| Interest income | $28.6M | $33.1M | $38.5M | $26.9M | $34.7M | $31.3M | $62.5M | $72.0M | $75.3M | $91.4M |
| Interest expense | $28.6M | $33.1M | $38.5M | $26.9M | $34.7M | $33.3M | $56.6M | $69.9M | $75.1M | $88.3M |
| Income before taxes | $256.3M | $207.0M | $146.8M | $83.8M | $52.4M | $45.5M | $23.4M | $238.8M | $187.1M | $107.3M |
| Income taxes | $63.9M | $48.1M | $42.6M | $26.8M | $2.7M | $10.5M | $4.4M | $53.4M | −$19.5M | $15.6M |
| Net income | $198.0M | $160.2M | $112.7M | $61.7M | $120.9M | $118.2M | $180.1M | $34.3M | $75.9M | $74.1M |
| EBITDA | $373.6M | $328.4M | $273.2M | $165.2M | $164.6M | $145.8M | $166.6M | $401.0M | $351.9M | $301.0M |
| EPS (diluted) | $1.52 | $1.28 | $0.97 | $0.98 | $1.67 | $1.77 | $1.98 | $1.76 | $1.31 | $1.35 |
| Gross margin | 41.6% | 45.1% | 42.3% | 36.3% | 41.0% | 45.0% | 45.4% | 38.3% | 38.2% | 36.6% |
| Operating margin | 17.0% | 15.6% | 12.5% | 8.4% | 11.7% | 14.4% | 14.7% | 14.9% | 14.4% | 11.9% |
| Net margin | 11.7% | 10.2% | 7.4% | 4.8% | 13.3% | 21.0% | 25.4% | 1.7% | 4.1% | 4.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $442.2M | $433.0M | $407.2M | $455.4M | $444.5M | $388.8M | $370.7M | $410.0M | $412.0M | $373.8M | $356.8M | $398.4M |
| Cost of revenue | $222.1M | $227.2M | $241.1M | $269.4M | $242.2M | $207.8M | $224.3M | $220.6M | $225.7M | $203.7M | $200.9M | $228.5M |
| Gross profit | $220.1M | $205.8M | $166.1M | $186.0M | $202.3M | $181.0M | $146.4M | $189.4M | $186.3M | $170.1M | $155.9M | $169.9M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $23.7M | — |
| Sales, general & admin | $119.5M | $108.2M | $101.5M | $106.7M | $108.2M | $101.2M | $67.0M | $101.7M | $98.9M | $95.9M | $93.6M | $92.9M |
| Total operating expenses | $143.0M | $123.7M | $101.5M | $106.7M | $124.7M | $117.6M | $93.3M | $119.2M | $114.4M | $116.9M | $123.1M | $109.8M |
| Operating income | $77.1M | $82.1M | $64.6M | $79.3M | $77.6M | $63.4M | $53.1M | $70.2M | $71.9M | $53.2M | $32.8M | $60.1M |
| Interest income | — | — | $6.5M | $7.1M | $7.7M | $7.3M | $7.5M | $8.3M | — | — | — | $9.9M |
| Interest expense | $6.1M | $6.2M | $6.5M | $7.1M | $7.7M | $7.3M | $7.5M | $8.3M | $8.5M | $8.8M | $8.7M | $9.9M |
| Income before taxes | $150.1M | $76.9M | $53.2M | $79.1M | $67.9M | $56.1M | $41.8M | $60.4M | $61.8M | $43.0M | $21.3M | $47.7M |
| Income taxes | $37.6M | $18.0M | $11.5M | $19.5M | $17.8M | $15.1M | $5.7M | $16.9M | $16.5M | $9.0M | $7.8M | $12.5M |
| Net income | $113.3M | $58.9M | $42.1M | $61.8M | $50.5M | $43.6M | $36.4M | $43.5M | $46.0M | $34.3M | $13.9M | $41.4M |
| EBITDA | $102.3M | $104.1M | $81.8M | $108.0M | $97.7M | $87.2M | $72.4M | $90.6M | $92.0M | $73.4M | $51.6M | $79.3M |
| EPS (diluted) | $0.50 | $0.41 | $0.36 | $0.43 | $0.42 | $0.31 | $0.32 | $0.34 | $0.33 | $0.29 | $0.26 | $0.29 |
| Gross margin | 49.8% | 47.5% | 40.8% | 40.8% | 45.5% | 46.6% | 39.5% | 46.2% | 45.2% | 45.5% | 43.7% | 42.6% |
| Operating margin | 17.4% | 19.0% | 15.9% | 17.4% | 17.5% | 16.3% | 14.3% | 17.1% | 17.5% | 14.2% | 9.2% | 15.1% |
| Net margin | 25.6% | 13.6% | 10.3% | 13.6% | 11.4% | 11.2% | 9.8% | 10.6% | 11.2% | 9.2% | 3.9% | 10.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ZWS's financial statements (latest annual report filed February 9, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ZWS financial results
In fiscal year 2025 (ended December 31, 2025), Zurn Elkay Water Solutions reported revenue of $1.7 billion, up 8.3% from the year before. It had net income of $198.0 million (up 23.6%), a net profit margin of 11.7%. Diluted earnings per share came to $1.52. Over five years revenue grew at an average rate of 24.7% a year.
See the ZWS stock overview for the latest quote and news, or the ZWS chart for price history and technical indicators.
ZWS income statement FAQ
What is Zurn Elkay Water Solutions's annual revenue?
Zurn Elkay Water Solutions reported total revenue of $1.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 8.3% from $1.6 billion the previous year.
Is Zurn Elkay Water Solutions profitable?
Yes. Zurn Elkay Water Solutions reported net income of $198.0 million in fiscal 2025, a net profit margin of 11.7%; its operating margin was 17.0%.
What is Zurn Elkay Water Solutions's gross margin?
Zurn Elkay Water Solutions's gross margin was 41.6% in fiscal 2025: for every $100 of revenue, Zurn Elkay Water Solutions kept $42 after the direct cost of its products and services.
How fast is Zurn Elkay Water Solutions growing?
Revenue grew 24.7% a year on average over the last five fiscal years, from $562.7 million to $1.7 billion.
What are Zurn Elkay Water Solutions's earnings per share?
Zurn Elkay Water Solutions earned $1.52 per diluted share in fiscal 2025, compared with $1.28 a year earlier.
When will Zurn Elkay Water Solutions report its next earnings?
Zurn Elkay Water Solutions is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Zurn Elkay Water Solutions's fiscal year end?
Zurn Elkay Water Solutions's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 9, 2026.