Tearsheet

Zurn Elkay Water Solutions (ZWS)


Market Price (12/30/2025): $47.77 | Market Cap: $8.0 Bil
Sector: Industrials | Industry: Industrial Machinery & Supplies & Components

Zurn Elkay Water Solutions (ZWS)


Market Price (12/30/2025): $47.77
Market Cap: $8.0 Bil
Sector: Industrials
Industry: Industrial Machinery & Supplies & Components

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%
Trading close to highs
Dist 52W High is -0.8%, Dist 3Y High is -0.8%
Key risks
ZWS key risks include [1] a lack of organic revenue growth over the past two years, Show more.
1 Low stock price volatility
Vol 12M is 29%
  
2 Megatrend and thematic drivers
Megatrends include Water Infrastructure, and Sustainable Resource Management. Themes include Water Treatment & Delivery, Wastewater Management, Show more.
  
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%
1 Low stock price volatility
Vol 12M is 29%
2 Megatrend and thematic drivers
Megatrends include Water Infrastructure, and Sustainable Resource Management. Themes include Water Treatment & Delivery, Wastewater Management, Show more.
3 Trading close to highs
Dist 52W High is -0.8%, Dist 3Y High is -0.8%
4 Key risks
ZWS key risks include [1] a lack of organic revenue growth over the past two years, Show more.

Valuation, Metrics & Events

ZWS Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

1. Zurn Elkay Water Solutions reported strong third quarter 2025 financial results, with core sales growing 11% year-over-year and adjusted EBITDA increasing by 16%. The company also saw its adjusted earnings per share (EPS) rise by 26% in the quarter.

2. Following the robust Q3 performance, Zurn Elkay Water Solutions raised its full-year 2025 outlook, anticipating adjusted EBITDA between $437 million and $440 million and free cash flow exceeding $300 million.

3. Show more

Stock Movement Drivers

Fundamental Drivers

The 2.1% change in ZWS stock from 9/29/2025 to 12/29/2025 was primarily driven by a 7.5% change in the company's Net Income Margin (%).
929202512292025Change
Stock Price ($)46.7847.772.12%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1614.001659.402.81%
Net Income Margin (%)10.78%11.59%7.49%
P/E Multiple45.2941.76-7.79%
Shares Outstanding (Mil)168.48168.120.21%
Cumulative Contribution2.12%

LTM = Last Twelve Months as of date shown

Market Drivers

9/29/2025 to 12/29/2025
ReturnCorrelation
ZWS2.1% 
Market (SPY)3.6%58.2%
Sector (XLI)2.5%58.7%

Fundamental Drivers

The 31.2% change in ZWS stock from 6/30/2025 to 12/29/2025 was primarily driven by a 14.1% change in the company's P/E Multiple.
630202512292025Change
Stock Price ($)36.4147.7731.20%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1581.501659.404.93%
Net Income Margin (%)10.72%11.59%8.13%
P/E Multiple36.5941.7614.14%
Shares Outstanding (Mil)170.35168.121.30%
Cumulative Contribution31.18%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 12/29/2025
ReturnCorrelation
ZWS31.2% 
Market (SPY)11.6%32.3%
Sector (XLI)6.8%39.9%

Fundamental Drivers

The 27.9% change in ZWS stock from 12/29/2024 to 12/29/2025 was primarily driven by a 30.7% change in the company's Net Income Margin (%).
1229202412292025Change
Stock Price ($)37.3647.7727.87%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1552.601659.406.88%
Net Income Margin (%)8.87%11.59%30.66%
P/E Multiple46.2741.76-9.74%
Shares Outstanding (Mil)170.55168.121.42%
Cumulative Contribution27.84%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2024 to 12/29/2025
ReturnCorrelation
ZWS27.9% 
Market (SPY)16.6%59.3%
Sector (XLI)18.9%63.9%

Fundamental Drivers

The 134.1% change in ZWS stock from 12/30/2022 to 12/29/2025 was primarily driven by a 59.2% change in the company's P/S Multiple.
1230202212292025Change
Stock Price ($)20.4147.77134.07%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1173.801659.4041.37%
P/S Multiple3.044.8459.19%
Shares Outstanding (Mil)174.87168.123.86%
Cumulative Contribution133.72%

LTM = Last Twelve Months as of date shown

Market Drivers

12/30/2023 to 12/29/2025
ReturnCorrelation
ZWS66.0% 
Market (SPY)47.9%58.3%
Sector (XLI)41.1%68.0%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
ZWS Return22%-7%-41%41%28%29%56%
Peers Return16%38%-12%21%26%16%151%
S&P 500 Return16%27%-19%24%23%17%114%

Monthly Win Rates [3]
ZWS Win Rate67%75%33%58%75%83% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
ZWS Max Drawdown-41%-16%-43%-6%-5%-23% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/29/2025 (YTD)

How Low Can It Go

Unique KeyEventZWSS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-69.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven229.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-45.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven83.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven220 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-31.9%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven46.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven352 days120 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Zurn Elkay Water Solutions's stock fell -69.6% during the 2022 Inflation Shock from a high on 9/29/2021. A -69.6% loss requires a 229.5% gain to breakeven.

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About Zurn Elkay Water Solutions (ZWS)

Zurn Water Solutions Corporation designs, procures, manufactures, and markets water system solutions that provide and enhance water quality, safety, flow control, and conservation in and around non-residential buildings. It offers finish plumbing, drainage and interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and repair parts under the Zurn brand name; and hand and hair dryers, and baby changing stations under the World Dryer brand name. The company also offers stainless steel products under the Just Manufacturing brand name, which include stainless steel sinks for classrooms and academic institutions; ADA commercial stainless-steel sinks and plumbing fixtures for assisted living; faucets, bubblers, drains, and accessories; and stainless steel fixtures and related products for food services, government, healthcare, hospitality, institutional, and residential markets. It serves higher education, healthcare, retail, restaurant, hospitality, education, government, and fire protection markets. The company was formerly known as Rexnord Corporation and changed its name to Zurn Water Solutions Corporation in October 2021. Zurn Water Solutions Corporation was incorporated in 2006 and is headquartered in Milwaukee, Wisconsin.

AI Analysis | Feedback

Here are 1-2 brief analogies for Zurn Elkay Water Solutions (ZWS):

  • The Legrand or Schneider Electric for commercial water infrastructure.
  • A commercial-grade Kohler or Moen for plumbing and drinking water systems.

AI Analysis | Feedback

  • Commercial Plumbing Fixtures & Faucets: Zurn Elkay manufactures a wide array of commercial faucets, flush valves, and fixtures designed for high-traffic environments.
  • Drinking Water Solutions: The company provides bottle filling stations, drinking fountains, and water coolers, often integrated with advanced filtration systems.
  • Drainage Systems: Zurn Elkay offers a comprehensive portfolio of floor drains, trench drains, and interceptors for various commercial and industrial applications.
  • Water Heaters & Flow Control Products: They produce commercial water heaters, backflow preventers, and other essential devices for water temperature control and safety in plumbing systems.

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Major Customers of Zurn Elkay Water Solutions (ZWS)

Zurn Elkay Water Solutions (ZWS) primarily sells its products and solutions to other companies (B2B) rather than directly to individuals. According to the company's public filings, no single customer accounted for 10% or more of net sales in 2023, 2022, or 2021. Therefore, specific names of major customer companies are not disclosed.

However, Zurn Elkay Water Solutions serves a diverse range of business customers through various channels. Their major customer categories include:

  • Wholesalers and Distributors: These companies form the primary channel through which ZWS products reach end-users, including commercial contractors, plumbers, and residential builders.
  • Original Equipment Manufacturers (OEMs): ZWS supplies components and products that are integrated into other manufacturers' systems or products.
  • Large Institutional Customers: ZWS also sells directly to significant entities across various sectors, such as:
    • Government agencies
    • Healthcare systems (e.g., hospitals, clinics)
    • Educational institutions (e.g., schools, universities)
    • National restaurant chains and other hospitality businesses

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Todd Adams, Chairman and Chief Executive Officer

Todd Adams joined Zurn Elkay Water Solutions (formerly Rexnord) in 2004, becoming Chief Executive Officer in 2009 and Chairman of the Board in 2020. He spearheaded the acquisition of Zurn Industries in 2007, which led to the creation of the company's Water Management Platform. Adams also oversaw the company's transformation into a pure-play water business in 2021 and its combination with Elkay Manufacturing in 2022. Prior to joining Zurn Elkay, he held senior financial positions at The Boeing Company, APW Ltd., Applied Power, and IDEX. Adams serves on the board of directors of Badger Meter, Inc. and previously served on the board of Generac Holdings Inc.

Dave Pauli, Chief Financial Officer

Dave Pauli joined Zurn Elkay Water Solutions in 2012 as assistant corporate controller. He progressed through various financial roles within the company, including divisional vice president of finance and corporate controller, before being named Chief Financial Officer in 2021. Pauli began his career with Deloitte.

Jeffrey Schoon, President

Jeffrey Schoon rejoined Zurn Elkay Water Solutions shortly after the 2022 combination with Elkay Manufacturing. From 2010 to 2021, he held various positions of increasing responsibility, including corporate director of the Rexnord Business System, and vice president and general manager of the Global Couplings and Conveying segments. When the company sold its Process & Motion Control business to Regal Beloit, Schoon transitioned with his role to the new Regal Rexnord Corporation.

Mark Peterson, Chief Administrative Officer

Mark Peterson joined the company in 2006 as Chief Financial Officer of the Flat Top division. He later served as corporate vice president & controller and was promoted to Senior Vice President and Chief Financial Officer in 2011. In his role as CFO, Peterson guided the 2021 sale of the Process & Motion Control business and the 2022 combination with Elkay Manufacturing. Before joining the company, he was the corporate controller of Gehl Company for five years.

Craig Wehr, Senior Vice President, Corporate Development and Integration

Craig Wehr served as president of Zurn Industries and Zurn Water Solutions for approximately ten years. He assumed his current role as Senior Vice President, Corporate Development and Integration, following the 2022 combination with Elkay Manufacturing. Wehr initially joined the company in 1993 as a sales manager and progressed through various leadership positions in sales, marketing, and business development.

AI Analysis | Feedback

Zurn Elkay Water Solutions (ZWS) faces several key risks to its business operations and financial performance.

Key Risks for Zurn Elkay Water Solutions (ZWS)

  1. Reliance on Cyclical Non-Residential Construction and Intense Market Competition: Zurn Elkay Water Solutions operates in a highly competitive industry and generates a significant portion of its revenue from the non-residential construction sector, which is cyclical. Economic and financial market weaknesses can reduce demand for its products, leading to potential downward pressure on pricing and profit margins. The company must continually invest in research and development to maintain its market position and prevent loss of market share to competitors.
  2. Economic and Regulatory Headwinds, Including Supply Chain Disruptions and Cost Volatility: The company is exposed to economic uncertainties, such as the impact of tariffs and trade policies, and faces potential disruptions in its supply chains. Fluctuations in raw material costs, interest rates, and foreign exchange rates can affect its profitability and operational efficiency. Additionally, Zurn Elkay must navigate evolving environmental regulations, which could result in significant compliance costs.
  3. Challenges in Achieving Organic Revenue Growth and Managing Operational Integration/Restructuring: Zurn Elkay has shown an absence of organic revenue growth over the past two years, suggesting a potential reliance on acquisitions for expansion. The company has also incurred and continues to incur restructuring charges related to optimizing its operating margin and manufacturing footprint, including workforce reductions and facility rationalization. Furthermore, the integration of the Elkay merger, completed in 2022, presents ongoing operational challenges and risks.

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Zurn Elkay Water Solutions (ZWS) operates in several addressable markets related to sustainable water management. The company's main products and services encompass water dispensing and filtration, water safety and control, flow systems, restroom solutions, and sinks and plumbing fixtures, catering to both commercial and residential sectors.

The addressable markets for Zurn Elkay's main products and services in North America are sized as follows:

  • North America Plumbing Fixtures Market: This market, which includes products like faucets, sinks, bathtubs, showers, and toilets, was valued at approximately USD 29.32 billion in 2024. It is estimated to grow at a Compound Annual Growth Rate (CAGR) of 7.93% from 2025 to 2034, reaching an estimated USD 62.89 billion by 2034. Another estimate places the market size at USD 29.15 billion in 2024, projected to reach USD 45.76 billion by 2030, with a CAGR of 7.7% from 2025 to 2030. The U.S. plumbing fixtures market alone accounted for a dominant 69.8% revenue share within North America in 2024.
  • North America Plumbing Components Market: This broader market, which includes pipes, fittings, and valves, was valued at USD 38.3 billion in 2025 and is projected to reach USD 56.1 billion by 2032. A sub-segment, the North America plumbing parts market, was valued at USD 11.28 billion in 2023 and is expected to reach USD 15.79 billion by 2029, growing at a CAGR of 5.77%.
  • North America Water Pipe and Fittings Market: This specific segment was valued at USD 39.11 billion in 2022 and is projected to reach USD 53.97 billion by 2030, with a CAGR of 4.08% from 2024 to 2030.
  • North America Water Treatment System Market: This market, which encompasses drinking water treatment systems and other applications, was valued at approximately USD 15.74 billion in 2023. It is projected to reach USD 24.24 billion by 2031, with a CAGR of approximately 5.5% from 2023 to 2031.
  • North America Water Purifier Market: Valued at USD 10.21 billion in 2024, this market is anticipated to reach USD 20.17 billion by 2033, growing at a CAGR of 7.86% from 2025 to 2033. Within this, the U.S. water purifier market alone was valued at USD 6.75 billion in 2024 and is projected to grow to USD 10.35 billion by 2032.
  • North America Household Water Treatment System Market: This market was valued at USD 4.65 billion in 2022 and is projected to exceed USD 8.76 billion by 2032, with a CAGR of 6.5% from 2022 to 2032.
  • North America Point of Entry Water Treatment Systems Market: This market was estimated at USD 1.57 billion in 2023 and is anticipated to grow at a CAGR of 4.5% from 2024 to 2030, reaching USD 2.15 billion by 2030.

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Here are 3-5 expected drivers of future revenue growth for Zurn Elkay Water Solutions (ZWS) over the next 2-3 years:
  1. Growth in Non-Residential End Markets: Zurn Elkay Water Solutions anticipates continued mid-single-digit core sales growth within its non-residential end markets. This segment consistently contributes to the company's sales performance, with growth initiatives aligning with market expectations.
  2. Strategic Acquisitions and Partnerships: The company plans to pursue strategic acquisitions and partnerships to broaden its product offerings and expand its market reach. Zurn Elkay Water Solutions maintains a strong balance sheet and healthy cash flow, providing the flexibility to cultivate such merger and acquisition opportunities.
  3. New Product Development and Innovation: A focus on new product launches, especially within sustainable water solutions, is expected to drive revenue. An example is the 2025 launch of the Elkay Pro Filtration product line, which aims to address advanced PFAS reduction. Zurn Elkay's commitment to an innovative and sustainable product portfolio is central to its strategy to address water-related challenges.
  4. Leveraging Regulatory Tailwinds for Water Quality: The water solutions sector benefits from regulatory tailwinds and increasing demand for advanced treatment technologies due to global population growth and water scarcity. This provides a stable foundation for long-term growth and positions Zurn Elkay to capitalize on these trends with its diverse product portfolio.
  5. Operational Excellence and Strategic Pricing: Initiatives like the Zurn Elkay Business System (ZEBS) and continuous improvement activities contribute to operational efficiency and enable strategic pricing. These efforts, combined with synergies from the Elkay merger, drive margin expansion and enhance competitiveness, which can support sustainable revenue growth.

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Share Repurchases

  • In fiscal year 2024, Zurn Elkay Water Solutions completed $150 million in common stock repurchases.
  • The company repurchased $61 million of shares in the second quarter of 2024.
  • In the third quarter of 2025, Zurn Elkay Water Solutions repurchased $25 million of stock and increased its share buyback authorization to $500 million.

Share Issuance

  • In February 2025, a public offering of 7,750,000 shares was launched by Ice Mountain LLC, a former Elkay stockholder, from which Zurn Elkay Water Solutions did not issue new stock or receive proceeds.
  • Stockholders approved an Employee Stock Purchase Plan (ESPP) in May 2024, allowing for the future issuance of up to 2,000,000 shares to eligible employees.
  • The number of common shares outstanding decreased from 172,262,163 at December 31, 2023, to 170,308,023 at December 31, 2024.

Outbound Investments

  • On July 1, 2022, Zurn Water Solutions Corporation completed its combination with Elkay Manufacturing Company, leading to the formation of Zurn Elkay Water Solutions Corporation.
  • Cash acquisitions amounted to $44.8 million in fiscal year 2022.
  • In fiscal year 2021, the company's cash acquisitions were $17.1 million.

Capital Expenditures

  • Capital expenditures were $21.8 million in fiscal year 2024 and $21.3 million in fiscal year 2023.
  • The company's innovation efforts focus capital expenditures on products that save water, use less energy, provide clean drinking water, reduce installation time, and lower maintenance costs to support sustainability goals.
  • Expected full-year free cash flow for 2025 is approximately $290 million.

Better Bets than Zurn Elkay Water Solutions (ZWS)

Trade Ideas

Select ideas related to ZWS. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CNM_11212025_Dip_Buyer_FCFYield11212025CNMCore & MainDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
17.6%17.6%-1.6%
VRRM_11212025_Dip_Buyer_FCFYield11212025VRRMVerra MobilityDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
6.6%6.6%-1.2%
LII_11212025_Dip_Buyer_ValueBuy11212025LIILennox InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
6.8%6.8%0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025ADPAutomatic Data ProcessingMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
3.2%3.2%-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%11212025CWCurtiss-WrightQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
4.9%4.9%-0.4%
ZWS_3312020_Dip_Buyer_ValueBuy03312020ZWSZurn Elkay Water SolutionsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
32.0%109.7%-14.7%

Recent Active Movers

More From Trefis

Peer Comparisons for Zurn Elkay Water Solutions

Peers to compare with:

Financials

ZWSHPQHPEIBMCSCOAAPLMedian
NameZurn Elk.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price47.7722.7324.33305.7477.79273.7662.78
Mkt Cap8.021.432.4285.5307.74,079.8159.0
Rev LTM1,65955,29534,29665,40257,696408,62556,496
Op Inc LTM2773,6241,64411,54412,991130,2147,584
FCF LTM2892,80062711,85412,73396,1847,327
FCF 3Y Avg2732,9781,40011,75313,879100,5037,366
CFO LTM3183,6972,91913,48313,744108,5658,590
CFO 3Y Avg2963,6723,89613,49814,736111,5598,697

Growth & Margins

ZWSHPQHPEIBMCSCOAAPLMedian
NameZurn Elk.HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM6.9%3.2%13.8%4.5%8.9%6.0%6.4%
Rev Chg 3Y Avg12.8%-3.9%6.5%2.6%3.7%1.8%3.2%
Rev Chg Q11.1%4.2%14.4%9.1%7.5%9.6%9.4%
QoQ Delta Rev Chg LTM2.8%1.1%3.7%2.1%1.8%2.1%2.1%
Op Mgn LTM16.7%6.6%4.8%17.7%22.5%31.9%17.2%
Op Mgn 3Y Avg15.2%7.4%7.2%16.4%24.2%30.8%15.8%
QoQ Delta Op Mgn LTM-0.1%-0.2%-1.4%0.6%0.4%0.1%-0.0%
CFO/Rev LTM19.2%6.7%8.5%20.6%23.8%26.6%19.9%
CFO/Rev 3Y Avg18.7%6.8%12.7%21.4%26.1%28.4%20.1%
FCF/Rev LTM17.4%5.1%1.8%18.1%22.1%23.5%17.8%
FCF/Rev 3Y Avg17.3%5.5%4.6%18.6%24.6%25.6%18.0%

Valuation

ZWSHPQHPEIBMCSCOAAPLMedian
NameZurn Elk.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap8.021.432.4285.5307.74,079.8159.0
P/S4.80.40.94.45.310.04.6
P/EBIT29.36.619.725.122.431.323.7
P/E41.88.4569.036.129.841.138.6
P/CFO25.25.811.121.222.437.621.8
Total Yield3.2%14.4%2.3%5.0%5.5%2.8%4.1%
Dividend Yield0.8%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg4.5%10.6%5.5%6.4%6.0%3.1%5.7%
D/E0.10.50.70.20.10.00.2
Net D/E0.00.30.60.20.00.00.1

Returns

ZWSHPQHPEIBMCSCOAAPLMedian
NameZurn Elk.HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn0.1%-5.8%11.9%-0.9%1.1%-1.8%-0.4%
3M Rtn2.1%-14.5%1.4%9.9%15.6%7.7%4.9%
6M Rtn31.2%-5.0%20.3%5.0%13.5%33.7%16.9%
12M Rtn27.9%-28.7%15.4%40.8%33.9%7.6%21.6%
3Y Rtn134.1%-5.3%65.8%142.1%78.3%113.9%96.1%
1M Excs Rtn-2.1%-5.5%12.3%-0.5%0.9%-2.7%-1.3%
3M Excs Rtn-1.5%-18.1%-2.3%6.2%11.9%4.0%1.2%
6M Excs Rtn19.9%-16.3%9.0%-6.3%2.2%22.4%5.6%
12M Excs Rtn13.2%-43.3%-0.2%25.4%19.0%-7.8%6.5%
3Y Excs Rtn53.1%-82.8%-10.4%61.9%0.1%27.1%13.6%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Single Segment1,5301,282911563 
Process & Motion Control    1,358
Water Management    710
Total1,5301,2829115632,068


Price Behavior

Price Behavior
Market Price$47.77 
Market Cap ($ Bil)8.0 
First Trading Date03/29/2012 
Distance from 52W High-0.8% 
   50 Days200 Days
DMA Price$46.96$40.91
DMA Trendupindeterminate
Distance from DMA1.7%16.8%
 3M1YR
Volatility20.7%28.9%
Downside Capture109.2384.30
Upside Capture100.4695.74
Correlation (SPY)58.2%59.4%
ZWS Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta0.890.931.010.830.891.06
Up Beta0.870.470.921.000.800.95
Down Beta0.360.930.861.180.981.01
Up Capture113%101%108%88%93%169%
Bmk +ve Days13263974142427
Stock +ve Days10213269128384
Down Capture89%108%112%38%92%103%
Bmk -ve Days7162452107323
Stock -ve Days10213056119358

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of ZWS With Other Asset Classes (Last 1Y)
 ZWSSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return28.7%19.1%16.7%65.4%7.5%4.2%-7.3%
Annualized Volatility28.8%18.8%19.4%19.8%15.3%17.0%34.9%
Sharpe Ratio0.870.790.672.430.270.08-0.06
Correlation With Other Assets 64.0%59.4%-11.9%14.3%43.3%20.6%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
 Comparison of ZWS With Other Asset Classes (Last 5Y)
 ZWSSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return6.0%13.8%14.8%17.7%11.2%5.1%30.2%
Annualized Volatility39.3%17.2%17.1%15.6%18.7%18.9%48.6%
Sharpe Ratio0.290.640.700.910.480.180.57
Correlation With Other Assets 52.7%47.0%3.0%10.6%41.9%15.4%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of ZWS With Other Asset Classes (Last 10Y)
 ZWSSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return11.2%13.7%15.0%14.6%6.9%5.4%69.0%
Annualized Volatility38.6%19.9%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio0.420.610.720.820.310.230.89
Correlation With Other Assets 64.5%59.4%-0.8%21.7%47.6%12.3%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity5,376,125
Short Interest: % Change Since 11302025-1.3%
Average Daily Volume802,827
Days-to-Cover Short Interest6.70
Basic Shares Quantity168,125,000
Short % of Basic Shares3.2%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/20254.2%1.8%4.8%
7/29/202512.2%16.4%21.9%
4/22/20254.9%9.8%15.6%
2/4/2025-3.3%-6.4%-12.0%
10/29/2024-0.1%7.1%10.7%
7/10/20242.8%7.8%3.9%
4/23/2024-1.9%-4.5%-1.4%
10/31/20233.4%7.0%11.9%
...
SUMMARY STATS   
# Positive131415
# Negative987
Median Positive4.9%7.0%10.7%
Median Negative-2.5%-5.5%-4.9%
Max Positive12.2%16.4%23.0%
Max Negative-11.0%-11.2%-18.6%

SEC Filings

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Report DateFiling DateFiling
09/30/202510/28/202510-Q (09/30/2025)
06/30/202507/29/202510-Q (06/30/2025)
03/31/202504/22/202510-Q (03/31/2025)
12/31/202402/10/202510-K (12/31/2024)
09/30/202410/29/202410-Q (09/30/2024)
06/30/202407/30/202410-Q (06/30/2024)
03/31/202404/23/202410-Q (03/31/2024)
12/31/202302/06/202410-K (12/31/2023)
09/30/202310/31/202310-Q (09/30/2023)
06/30/202307/24/202310-Q (06/30/2023)
03/31/202304/25/202310-Q (03/31/2023)
12/31/202202/14/202310-K (12/31/2022)
09/30/202210/25/202210-Q (09/30/2022)
06/30/202207/26/202210-Q (06/30/2022)
03/31/202204/27/202210-Q (03/31/2022)
12/31/202102/09/202210-K (12/31/2021)

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0PETERSON MARK WChief Administrative Officer11142025Sell48.4821,5701,045,71415,443,837Form
1JAHNKE TIMOTHY J11102025Sell47.5110,539500,7088,051,092Form