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Watts Water Technologies, Inc., together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, leak detection and protection products, commercial washroom solutions, hydration solutions, and emergency safety products and equipment for plumbing and hot water applications. It also provides heating, ventilation, and air conditioning and gas products comprising commercial, institutional, and industrial boilers; water heaters and heating solutions; hydronic and electric heating systems for under-floor radiant applications; custom heat and hot water solutions; hydronic pump groups for boiler manufacturers and alternative energy control packages; and flexible stainless-steel connectors for natural and liquid propane gas in commercial food service and residential applications. In addition, the company offers drainage and water re-use products, such as drainage products, engineered rainwater harvesting solutions for commercial, industrial, marine, and residential applications; connected roof drain systems; and water quality products, including point-of-use and point-of-entry, closed loop, cooling tower, and other water applications for commercial, marine, and residential applications. It sells its products to plumbing, heating, and mechanical wholesale distributors and dealers; original equipment manufacturers; specialty product distributors; and do-it-yourself and retail chains, as well as wholesalers and private label accounts in the Americas, Europe, Asia-Pacific, Middle East, and Africa. Watts Water Technologies, Inc. was founded in 1874 and is headquartered in North Andover, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.4B | $515M | $341M | $356M | 16.8% | 8.3% | 17.0% |
| 2024 | $2.3B | $455M | $291M | $326M | 17.1% | 9.5% | 11.1% |
| 2023 | $2.1B | $401M | $262M | $281M | 17.3% | 3.9% | 4.2% |
| 2022 | $2.0B | $354M | $252M | $196M | 19.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,979.50 | 2,056.30 | 2,252.20 | 2,438.50 |
| Cost Of Revenue | 1,105.20 | 1,095.40 | 1,190.20 | 1,232.50 |
| Gross Profit | 874.30 | 960.90 | 1,062 | 1,206 |
| Operating Expense | 548.70 | 604.50 | 664.40 | 734.20 |
| Operating Income | 325.60 | 356.40 | 397.60 | 471.80 |
| EBITDA | 354.30 | 401 | 455.10 | 515 |
| EBIT | 314.60 | 357.70 | 400.70 | 456.60 |
| Pretax Income | 307.60 | 349.50 | 386 | 445.80 |
| Tax Provision | 56.10 | 87.40 | 94.80 | 105 |
| Net Income | 251.50 | 262.10 | 291.20 | 340.80 |
| Net Income Common Stockholders | 251.50 | 262.10 | 291.20 | 340.80 |
| Total Expenses | 1,653.90 | 1,699.90 | 1,854.60 | 1,966.70 |
| Interest Expense | 7 | 8.20 | 14.70 | 10.80 |
| Interest Income | 0.60 | 7.20 | 8.90 | 9.80 |
| Selling General And Administration | 548.70 | 604.50 | 664.40 | 734.20 |
| Normalized EBITDA | 364.90 | 406.50 | 462.30 | 538.70 |
| Normalized Income | 260.17 | 266.22 | 296.63 | 358.93 |
| Basic EPS | 7.51 | 7.85 | 8.70 | 10.17 |
| Diluted EPS | 7.48 | 7.82 | 8.69 | 10.17 |
| Tax Effect Of Unusual Items | -1.93 | -1.38 | -1.77 | -5.57 |
| Tax Rate For Calcs | 0.18 | 0.25 | 0.25 | 0.23 |
| Total Unusual Items | -10.60 | -5.50 | -7.20 | -23.70 |
| Total Unusual Items Excluding Goodwill | -10.60 | -5.50 | -7.20 | -23.70 |
| Net Income From Continuing Operation Net Minority Interest | 251.50 | 262.10 | 291.20 | 340.80 |
| Reconciled Depreciation | 39.70 | 43.30 | 54.40 | 58.40 |
| Reconciled Cost Of Revenue | 1,105.20 | 1,095.40 | 1,190.20 | 1,232.50 |
| Net Interest Income | -6.40 | -1 | -5.80 | -1 |
| Net Income From Continuing And Discontinued Operation | 251.50 | 262.10 | 291.20 | 340.80 |
| Total Operating Income As Reported | 315 | 350.90 | 390.40 | 448.10 |
| Diluted Average Shares | 33.60 | 33.50 | 33.50 | 33.50 |
| Basic Average Shares | 33.50 | 33.40 | 33.50 | 33.50 |
| Diluted NI Availto Com Stockholders | 251.50 | 262.10 | 291.20 | 340.80 |
| Net Income Including Noncontrolling Interests | 251.50 | 262.10 | 291.20 | 340.80 |
| Net Income Continuous Operations | 251.50 | 262.10 | 291.20 | 340.80 |
| Other Income Expense | -11.60 | -5.90 | -5.80 | -25 |
| Other Non Operating Income Expenses | -1 | -0.40 | 1.40 | -1.30 |
| Special Income Charges | -10.60 | -5.50 | -7.20 | -23.70 |
| Gain On Sale Of Ppe | 1.80 | 0 | 0 | 0 |
| Gain On Sale Of Business | 0 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 10.60 | 5.50 | 7.20 | 23.70 |
| Net Non Operating Interest Income Expense | -6.40 | -1 | -5.80 | -1 |
| Interest Expense Non Operating | 7 | 8.20 | 14.70 | 10.80 |
| Interest Income Non Operating | 0.60 | 7.20 | 8.90 | 9.80 |
| Operating Revenue | 1,979.50 | 2,056.30 | 2,252.20 | 2,438.50 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Watts Water Technologies, Inc.this co. | WTS | $9.9B | 29.23↓ discount | 4.89 | 16.8% | 18.53 |
| Planet Labs PBC | PL | $11.8B | - | 60.64 | -131.0% | -258.32 |
| Dycom Industries, Inc. | DY | $11.7B | 40.83 | 6.29 | 15.1% | 19.58 |
| IES Holdings, Inc. | IESC | $11.4B | 34.01 | 11.86 | 34.5% | 24.57 |
| Kratos Defense & Security Solutions, Inc. | KTOS |
| $11.2B |
| 458.15 |
| 5.04 |
| 1.1% |
| 130.08 |
| SPX Technologies, Inc. | SPXC | $10.6B | 41.85 | 4.71 | 10.9% | 23.01 |
| Chart Industries, Inc. | GTLS | $10.0B | 630.00 | 3.08 | 1.2% | 14.27 |
| AeroVironment, Inc. | AVAV | $9.3B | - | 2.14 | 4.9% | 61.93 |
| Joby Aviation, Inc. | JOBY | $8.6B | - | 5.65 | -66.0% | -10.53 |
| Peer Median | - | 41.85 | 5.34 | 3.1% | 21.30 | |