Watts Water Technologies
Makes water-control, heating, drainage, and water-quality systems for buildings.
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Profile
Manufactures flow-control and protection products, boilers and water heaters, drainage systems, and water-quality equipment for buildings. Earns almost all revenue from product sales across the Americas, Europe, and APMEA, with wholesalers as the largest channel and regulated plumbing and building codes shaping demand.
Designs and manufactures products that manage water and energy flows through commercial, residential, and light-industrial buildings. The portfolio spans backflow preventers, pressure regulators, mixing and relief valves, leak-detection systems, commercial washroom and emergency-safety equipment, boilers and water heaters, radiant heating controls, gas connectors, drainage and water-reuse systems, and water filtration, monitoring, conditioning, and scale prevention.
Operates through Americas, Europe, and APMEA segments, with the Americas generating most sales. Integrated manufacturing and smart monitoring and control capabilities support sales through plumbing and heating wholesalers, OEMs, specialty distributors, dealers, and retailers. Recent acquisitions expanded boilers, emergency safety, drainage, and water quality.
Most revenue comes from product sales, wholesale distribution is the primary channel, and a majority of products are subject to plumbing, building, water-quality, and energy-efficiency standards.
Company facts
Key statistics
Year to date +31.5% · Average volume (30d) 187.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Goldman Sachs | Reiterate | Neutral | $323 | $374 | |
| Aug 7, 2026 | Robert W. Baird | Target | $330 | $405 | ||
| Aug 7, 2026 | RBC Capital | Reiterate | Sector Perform | $350 | $417 | |
| Aug 7, 2026 | Barclays | Reiterate | Overweight | $414 | $425 | |
| Aug 6, 2026 | KeyBanc | Reiterate | Overweight | $380 | $400 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $3.33 | $3.66 | +9.9% | $726.0M | $763.2M | +5.1% | +3.65% |
| May 6, 2026Q1 FY26 | $2.72 | $3.04 | +11.8% | $638.1M | $677.3M | +6.1% | +0.74% |
| Feb 11, 2026Q4 FY25 | $2.36 | $2.62 | +11.0% | $610.0M | $625.1M | +2.5% | +6.81% |
| Nov 5, 2025Q3 FY25 | $2.26 | $2.50 | +10.6% | $576.3M | $611.7M | +6.1% | −6.62% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $558.0M | $643.7M | $611.7M | $625.1M | $677.3M | $763.2M | |
| Gross profit | $272.5M | $325.9M | $298.4M | $309.2M | $326.1M | $374.1M | |
| Operating income | $87.7M | $135.3M | $113.3M | $114.8M | $133.0M | $154.0M | |
| Net income | $74.0M | $100.9M | $82.2M | $83.7M | $99.6M | $118.3M | |
| Diluted EPS | $2.21 | $3.01 | $2.45 | $2.51 | $2.97 | $3.53 | |
| Gross margin | 48.8% | 50.6% | 48.8% | 49.5% | 48.1% | 49.0% | |
| Operating margin | 15.7% | 21.0% | 18.5% | 18.4% | 19.6% | 20.2% |
Fiscal years (4-quarter sums)FY21 $1.81B · FY22 $1.98B · FY23 $2.06B · FY24 $2.25B · FY25 $2.44B
Revenue by geography · Q2 FY26
Balance sheet, Jun 28, 2026Cash & short-term investments $347.9M · Total debt $108.0M · Total assets $2.95B · Shareholders' equity $2.19B
Dividends
Raised for 25 straight years — most recently to $0.63 from $0.52 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 15 | $0.63 | raised from $0.52 |
| Feb 27, 2026 | Feb 27 | Mar 13 | $0.52 | |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.52 | |
| Aug 29, 2025 | Aug 29 | Sep 15 | $0.52 | |
| May 30, 2025 | May 30 | Jun 13 | $0.52 | raised from $0.43 |
| Feb 28, 2025 | Feb 28 | Mar 14 | $0.43 | |
| Nov 29, 2024 | Nov 29 | Dec 13 | $0.43 | |
| Aug 30, 2024 | Aug 30 | Sep 13 | $0.43 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 33.39M · Float 32.90M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Horne Timothy P · 10 percent owner | 4.98M | 14.91% | Form 4 | Aug 21, 2026 |
| BlackRock, Inc. | 2.82M | 8.45% | 13F | Aug 7, 2026 |
| Kayne Anderson Rudnick Investment Management LLC | 1.98M | 5.94% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 1.50M | 4.48% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.24M | 3.70% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 28, 2026 | Michael J. Dubose | director | −398 | $309.63 |
| May 13, 2026 | Elie Melhem | officer: President- APAC, M. East, Afr. | −2,257 | $301.00 |
| Mar 19, 2026 | Elie Melhem | officer: President- APAC, M. East, Afr. | −372 | $292.13 |
| Mar 17, 2026 | Elie Melhem | officer: President- APAC, M. East, Afr. | −3,029 | $303.05 |
| Mar 18, 2026 | Elie Melhem | officer: President- APAC, M. East, Afr. | −379 | $300.03 |
Peers
- Zurn Elkay Water Solutions
Pure-play rival across backflow, pressure, drainage, and washroom.
- A. O. Smith
Directly contests Watts AERCO and PVI in commercial boilers and water heaters.
- Pentair
Overlaps in water filtration, flow control, and residential water treatment.
- Mueller Water Products
Competes on iron gate valves and pressure management in water infrastructure.
- Xylem
Applied Water segment overlaps in hydronic heating and building water systems.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Watts Water Technologies | $366.88 | +0.12% | $12.23B | 32.0 | 27.5 | 4.6 | +18.6% |
| Zurn Elkay Water Solutions | $48.05 | 0.00% | $7.97B | 29.7 | 24.6 | 4.6 | +10.5% |
| A. O. Smith | $60.38 | +0.02% | $8.37B | 16.8 | 15.5 | 2.2 | −0.7% |
| Pentair | $61.28 | −0.67% | $9.84B | 15.5 | 12.7 | 2.5 | −17.0% |
| Mueller Water Products | $24.38 | +0.04% | $3.81B | 17.3 | 15.4 | 2.6 | +4.1% |
| Xylem | $112.64 | +1.19% | $25.99B | 26.5 | 18.9 | 2.8 | +1.5% |
| Median | 17.3 | 15.5 | 2.6 | +1.5% |