Zurn Elkay Water Solutions Corp (ZWS) FY2025 10-K Annual Report
Zurn Elkay Water Solutions Corp (ZWS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 9, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Zurn Elkay Water Solutions Corp FY2025 10-K Analysis
Business Overview
- • Core pure-play water management business focusing on specification-driven products for institutional, commercial, waterworks, and residential construction markets
- • Introduction of Pro Filtration™ in 2025: advanced bottle filling station with 10,000 gallon filtration capacity and filter replacement under 30 seconds
- • Continued strategic emphasis on growth via acquisitions and ZEBS operating philosophy focusing on continuous improvement and customer satisfaction
- • Employee count ~2,600 with 160 unionized; safety improved with 43% reduction in TRIR and LTIR vs 2022 combined Zurn Elkay rate
- • Noteworthy: Completion of 2022 Elkay merger transforming company into broad portfolio water solutions provider, traded as ZWS on NYSE
Management Discussion & Analysis
- • Revenue $1,695.9M in 2025, up 8.3% YoY from $1,566.5M in 2024, with core sales growing 8% across all categories
- • Operating income $278.9M (16.4% margin) in 2025 vs $244.6M (15.6% margin) in 2024, operating margin up 80 bps
- • Best segment: not segmented in MDA; restructuring charges $9.6M in 2025 vs $13.5M in 2024; worst impact from restructuring and inventory LIFO adjustments
- • Net income $198.0M ($1.15/diluted share) in 2025 vs $160.2M ($0.92/share) in 2024; net income from continuing operations $192.4M in 2025
- • Cash flow/capital: pension plan terminated with $4.3M annuity purchase; no explicit buyback/dividend/capex details provided
- • Forward outlook: ongoing restructuring expected; monitoring tax law changes including OECD global minimum tax and UBBBA bill; risks in pension termination and inventory costs
Risk Factors
- • No specific or timely regulatory/legal risk disclosed in the Risk Factors section
- • No geopolitical or macroeconomic threat with concrete exposure detailed
- • No operational or supply chain vulnerability specific to Zurn Elkay Water Solutions Corp identified
- • No competitive or market disruption risk with named competitor or technology described
- • No financial or structural risk such as leverage, concentration, or key-person dependency specifically reported
Zurn Elkay Water Solutions Corp FY2025 Key Financial MetricsXBRL
Revenue
$1.7B
▲ +8.3% YoY
Net Income
$198M
▲ +23.6% YoY
Gross Margin
45.1%
▼ -4bp YoY
Operating Margin
16.4%
▲ +83bp YoY
Net Margin
11.7%
▲ +145bp YoY
ROE
12.3%
▲ +225bp YoY
Total Assets
$2.7B
▲ +1.2% YoY
EPS (Diluted)
$1.15
▲ +25.0% YoY
Operating Cash Flow
$347M
▲ +18.1% YoY
Source: XBRL data from Zurn Elkay Water Solutions Corp FY2025 10-K filing on SEC EDGAR. All figures in USD.
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