Short answer
Pentair (PNR) filed its fiscal 2025 10-K annual report with the SEC on Feb 24, 2026. It reported revenue of $4.2B (+2.3% year over year) and net income of $654M.
- Top risk flagged: Tariffs on steel, aluminum, copper, and goods from Mexico, China, EU under current U.S. administration; USMCA up for review in 2026 adding further uncertainty
FY2025 key financial metrics · XBRL
- Revenue
- $4.2B
- +2.3% YoY
- Net income
- $654M
- +4.5% YoY
- Operating margin
- 20.5%
- +0.8 pp YoY
- Gross margin
- 40.5%
- +1.3 pp YoY
- EPS (diluted)
- $3.96
- +5.9% YoY
- ROE
- 16.9%
- −0.7 pp YoY
- Operating cash flow
- $815M
- +6.3% YoY
Source: XBRL data from the Pentair (PNR) FY2025 10-K on SEC EDGAR. USD.
Pentair FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Pure-play water solutions company across three segments (Flow, Water Solutions, Pool); total net sales $4.18B in FY2025, up ~2.3% YoY
- Two acquisitions completed: Hydra-Stop (specialty insertion valves) for $292.1M in Sept 2025; G&F Manufacturing (pool heat pumps) for $116.0M in Dec 2024
- Segment restructuring effective Jan 1, 2026: residential/irrigation flow business (~36% of prior Flow sales) shifted from Flow into Water Solutions segment
- Pool segment fastest-growing: segment income up ~$50.6M to $527.1M in 2025; single Pool customer representing 18% of consolidated net sales (up from 15% in 2024)
- ~9,000 employees worldwide as of Dec 31, 2025; completed second CSRD-aligned ESG assessment in 2025, with updated Sustainability Strategic Targets announced
Management Discussion & Analysis
- Revenue $4,176M, up 2.3% YoY; price +4.0% offset by volume -2.1% across segments
- Operating margin 20.5% vs 19.7%; gross margin 40.5% vs 39.2%; SG&A ratio 17.6% vs 17.2%
- Best segment: Pool, sales +8.5% to $1,559M, segment margin 33.8% vs 33.2%; worst: Water Solutions, sales -6.1% to $1,062M despite margin 23.9% vs 22.6%
- Operating cash flow $814.8M; capex $68.8M; buybacks $225M; dividends $164.3M; $250M term loan repaid
- Key risks: tariff uncertainty post-Supreme Court ruling, Pillar Two minimum tax pressure, volume softness in Flow and Water Solutions
Risk Factors
- Tariffs on steel, aluminum, copper, and goods from Mexico, China, EU under current U.S. administration; USMCA up for review in 2026 adding further uncertainty
- Non-U.S. sales 30% of 2025 net revenue; exposed to currency volatility, trade restrictions, and geopolitical disruption including Russia-Ukraine and Middle East conflicts
- Single largest customer ~18% of consolidated 2025 net sales; loss or order reduction would materially impact revenue
- Goodwill and intangibles $4,611.4M, ~67% of total assets; vulnerable to impairment if fair market values decline
- OECD Pillar Two global 15% minimum tax already negatively impacted 2025 effective tax rate; ongoing exposure as more jurisdictions adopt rules
Generated from the filing text; verify against the original. How to read a 10-K
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