Short answer
Xylem Inc. (XYL) filed its fiscal 2024 10-K annual report with the SEC on Mar 3, 2025. It reported revenue of $8.6B (+16.3% year over year) and net income of $890M.
- Top risk flagged: Goodwill impairment risk from future annual tests could result in earnings charge despite no 2024 impairment identified
FY2024 key financial metrics · XBRL
- Revenue
- $8.6B
- +16.3% YoY
- Net income
- $890M
- +46.1% YoY
- Operating margin
- 11.8%
- +2.9 pp YoY
- Gross margin
- 37.5%
- +0.6 pp YoY
- EPS (diluted)
- $3.65
- +30.8% YoY
- ROE
- 8.4%
- +2.4 pp YoY
- Operating cash flow
- $1.3B
- +50.9% YoY
Source: XBRL data from the Xylem Inc. (XYL) FY2024 10-K on SEC EDGAR. USD.
Xylem Inc. FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Design, manufacture, and service engineered water technology products/solutions across the water cycle
- Emphasized growth in Measurement and Control Solutions with 2024 revenue $1.87B, highlighting smart metering, data analytics, and digital services
- Strategic focus on sustainability leadership, embedding decarbonization, water stewardship and WASH access as competitive advantages
- Revenue expanded to $8.6B in 2024 from $7.36B in 2023, employees increased to ~23,000
- Backlog stable at ~$5.07B with ~50% expected recognized revenue in 2025, reflecting strong order visibility
Management Discussion & Analysis
- Revenue $8.562B in 2024, up $1.198B (16%) YoY from $7.364B in 2023
- Depreciation/amortization increased to $562M in 2024 from $436M in 2023 (29% increase)
- Capital expenditures $321M in 2024, up $50M (18%) YoY from $271M in 2023
- Best segment Water Solutions and Services CapEx $148M vs $106M, worst Applied Water revenue with slowest CapEx $22M down from $32M
- Management anticipates restructuring charges $95M-$115M in 2025, includes $19M charge in Q4 2024, linked to workforce reductions across businesses
Risk Factors
- Goodwill impairment risk from future annual tests could result in earnings charge despite no 2024 impairment identified
- Pension plan discount rate decrease from 5.65% (2024 US) to 3.97% (2025) could increase pension expense by ~$1 million per 25 bps change
- Hedge fund assets in pension plan require fair value estimates due to lagging manager reports, adjustments <1% total plan assets
- Organic revenue growth exposure limited to 3-4% in 2025, constrained by current market environment uncertainties
- Pension contributions forecast $17M–$23M for 2025, with $5M expected in Q1, impacting cash flow planning
Generated from the filing text; verify against the original. How to read a 10-K
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