NYSE: XYL
Xylem
Industrials · Pumps & Pumping Equipment
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$23.2B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $8.89B |
| FY2017, ended Dec 31, 2017 | $12.3B |
| FY2018, ended Dec 31, 2018 | $12.0B |
| FY2019, ended Dec 31, 2019 | $14.2B |
| FY2020, ended Dec 31, 2020 | $18.4B |
| FY2021, ended Dec 31, 2021 | $21.6B |
| FY2022, ended Dec 31, 2022 | $19.9B |
| FY2023, ended Dec 31, 2023 | $27.6B |
| FY2024, ended Dec 31, 2024 | $28.2B |
| FY2025, ended Dec 31, 2025 | $33.1B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $23.2B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$9.06B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $3.77B |
| FY2017, ended Dec 31, 2017 | $4.71B |
| FY2018, ended Dec 31, 2018 | $5.21B |
| FY2019, ended Dec 31, 2019 | $5.25B |
| FY2020, ended Dec 31, 2020 | $4.88B |
| FY2021, ended Dec 31, 2021 | $5.20B |
| FY2022, ended Dec 31, 2022 | $5.52B |
| FY2023, ended Dec 31, 2023 | $7.36B |
| FY2024, ended Dec 31, 2024 | $8.56B |
| FY2025, ended Dec 31, 2025 | $9.04B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $9.06B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $260M | $373M |
| FY2017, ended Dec 31, 2017 | $331M | $516M |
| FY2018, ended Dec 31, 2018 | $549M | $349M |
| FY2019, ended Dec 31, 2019 | $401M | $613M |
| FY2020, ended Dec 31, 2020 | $254M | $641M |
| FY2021, ended Dec 31, 2021 | $427M | $330M |
| FY2022, ended Dec 31, 2022 | $355M | $388M |
| FY2023, ended Dec 31, 2023 | $609M | $566M |
| FY2024, ended Dec 31, 2024 | $890M | $942M |
| FY2025, ended Dec 31, 2025 | $957M | $910M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.08B | $921M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$708M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $308M |
| FY2017, ended Dec 31, 2017 | $414M |
| FY2018, ended Dec 31, 2018 | $296M |
| FY2019, ended Dec 31, 2019 | $724M |
| FY2020, ended Dec 31, 2020 | $1.88B |
| FY2021, ended Dec 31, 2021 | $1.35B |
| FY2022, ended Dec 31, 2022 | $944M |
| FY2023, ended Dec 31, 2023 | $1.02B |
| FY2024, ended Dec 31, 2024 | $1.12B |
| FY2025, ended Dec 31, 2025 | $1.48B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $708M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$3.47B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.37B |
| FY2017, ended Dec 31, 2017 | $2.20B |
| FY2018, ended Dec 31, 2018 | $2.31B |
| FY2019, ended Dec 31, 2019 | $2.32B |
| FY2020, ended Dec 31, 2020 | $3.08B |
| FY2021, ended Dec 31, 2021 | $2.44B |
| FY2022, ended Dec 31, 2022 | $1.88B |
| FY2023, ended Dec 31, 2023 | $2.28B |
| FY2024, ended Dec 31, 2024 | $2.07B |
| FY2025, ended Dec 31, 2025 | $2.49B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $3.47B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 27.8% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.229M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 179M |
| FY2017, ended Dec 31, 2017 | 180M |
| FY2018, ended Dec 31, 2018 | 180M |
| FY2019, ended Dec 31, 2019 | 180M |
| FY2020, ended Dec 31, 2020 | 180M |
| FY2021, ended Dec 31, 2021 | 180M |
| FY2022, ended Dec 31, 2022 | 180M |
| FY2023, ended Dec 31, 2023 | 242M |
| FY2024, ended Dec 31, 2024 | 243M |
| FY2025, ended Dec 31, 2025 | 243M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 229M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $1.53B more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $4.00M | $18.0M |
| FY2017, ended Dec 31, 2017 | $25.0M | $21.0M |
| FY2018, ended Dec 31, 2018 | $59.0M | $30.0M |
| FY2019, ended Dec 31, 2019 | $40.0M | $29.0M |
| FY2020, ended Dec 31, 2020 | $61.0M | $26.0M |
| FY2021, ended Dec 31, 2021 | $68.0M | $33.0M |
| FY2022, ended Dec 31, 2022 | $52.0M | $37.0M |
| FY2023, ended Dec 31, 2023 | $25.0M | $60.0M |
| FY2024, ended Dec 31, 2024 | $20.0M | $56.0M |
| FY2025, ended Dec 31, 2025 | $15.0M | $53.0M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.58B | $55.0M |
Revenue (TTM)
$9.06B
+1.9% YoY
Net income (TTM)
$1.08B
+14.1% YoY
Cash
$708M
−40.6% YoY
Total debt
$3.47B
+75.8% YoY
Valuation
At current price- Market Cap
- $21.2B
- P/E
- 19.6×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.3×
- Price / Book
- 2.1×
- EV / EBITDA
- 12.4×
Growth
Trailing 12 months- Revenue (TTM)
- $9.06B
- Revenue Growth YoY
- 1.9%
- Revenue CAGR 3Y
- 17.8%
- Revenue CAGR 5Y
- 13.1%
- EPS Growth YoY
- 16.2%
- Net Income Growth YoY
- 14.1%
Profitability
Trailing 12 months- Gross Margin
- 39.8%
- Operating Margin
- 15.1%
- Net Margin
- 11.9%
- FCF Margin
- 10.2%
- Return on Equity
- 10.1%
Earnings
Trailing 12 months- Net Income
- $1.08B
- EPS (diluted)
- $4.51
- EBITDA
- $1.93B
- Operating Income
- $1.37B
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $708M
- Total Debt
- $3.47B
- Net Debt
- $2.77B
- Total Assets
- $17.3B
- Total Liabilities
- $6.82B
- Shareholders' Equity
- $10.3B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.27B
- Capital Expenditure
- $351M
- Free Cash Flow
- $921M
Dividends and risk
Last 12 months- Dividend Yield
- 1.8%
- Dividend / Share
- $1.69
- Beta (5Y)
- 0.99
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $9.06B.
Strength
Operating margin widened 2.4 pts in a year, to 15.1%.
Note
Net debt of $2.77B is 1.4× EBITDA, a manageable load.
Note
Free cash flow of $921M, 10.2% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 27, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K71Good news
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 25, 2026 · Read the filing on EDGAR
- Revenue rose 5.5% to $9,035 million, with 4.9% organic growth; operating income rose 21.2% to $1,223 million on productivity savings and higher prices.
- Net income rose 7.5% to $957 million, a smaller gain because 2024 included a one-time $152 million Idrica gain.
- Backlog fell 9.0% to $4,615 million and orders grew only 2.0%, staying below revenue.
- Xylem expects 2026 revenue growth of 1% to 3%, and added 1,605 planned job cuts during 2025 under its simplification effort.
Business momentum
Strong improvement
“Operating income for 2025 was $1,223 million, reflecting an increase of $214 million, or 21.2%, compared to $1,009 million in 2024.”
Outlook
Neutral
“We anticipate total revenue growth of 1% to 3% in 2026, with organic revenue growth anticipated to be in the range of 2% to 4%.”
Financial stress
Low
“Currently, we have available liquidity of approximately $2.5 billion, consisting of $1.5 billion of cash and $1 billion of available credit facilities”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Operating profit grew much faster than sales, lifting margins
“Operating margin was 13.5% in 2025, up 170 basis points from 11.8% in 2024.”
Underlying sales grew in every segment
“reflecting organic growth across all segments and most major geographic regions”
Job and cost cuts should bring further savings
“we achieved savings of approximately $29 million in 2025 and estimate annual future net savings beginning in 2026 of approximately $80 million to $120 million”
Concerns
Backlog of future work shrank
“Total backlog was $4,615 million at December 31, 2025 and $5,070 million at December 31, 2024, a decrease of 9.0%.”
Orders grew slowly and came in below revenue
“Orders of $8,904 million, up 2.0% from $8,730 million in 2024 (up 1.6% on an organic basis)”
Fastest-growing segment earned less despite higher sales
“Operating income was $244 million for our Measurement and Control Solutions segment (operating margin of 11.7%) during 2025, a decrease of $3 million, or 1.2%”
New risks since the previous report
Tariff rules unsettled after Supreme Court ruling
“the scope and durability of existing and future tariffs, as well as tariffs in place prior to the U.S. Supreme Court’s ruling, remain uncertain”
New company-wide business software could create security and operating weak points
“application upgrades and software implementations, such as the launch of our Enterprise Resource Planning software, may increase our exposure to such risks”
Rivals may use AI more effectively
“Competitors may develop and commercialize new technologies, such as AI, more effectively to drive internal efficiencies or create new or enhanced products or services that may adversely affect our competitiveness.”
Biggest risks named
- Tariffs, inflation and higher manufacturing and logistics costs
- Geopolitical and supply chain disruption, including China, Taiwan and chips
- Restructuring and simplification efforts falling short or hurting market share
- Cybersecurity incidents affecting operations and connected products
- Competition and failure to keep pace with new technologies such as AI
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1.5 | |
| Score | 71 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 27, 2026 | Pro | |||
| 10-K | Feb 25, 2026 | 71 | Strong improvement | None | |
| 10-K | Mar 3, 2025 | 69 | Strong improvement | 1 minor | |
| 10-K | Feb 28, 2024 | 74 | Strong improvement | 1 minor | |
| 10-K | Feb 24, 2023 | 55 | Mixed | 1 medium1 minor | |
| 10-K | Feb 25, 2022 | 73 | Strong improvement | 1 medium | |
| 10-K | Feb 26, 2021 | 51 | Weakening | 1 medium1 minor | |
| 10-K | Feb 28, 2020 | 48 | Mixed | 1 medium | |
| 10-K | Feb 22, 2019 | 73 | Strong improvement | None | |
| 10-K | Feb 23, 2018 | 75 | Strong improvement | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 27, 2026. View filings on SEC EDGAR