Skip to content
AnalystLens

XylemXYL

Legal name
Xylem Inc.
Sector
Other
Industry
Pumps & Pumping Equipment
Exchange
NYSE

Stock Price $XYL

Latest filings

You are here#77 of 87 in Industrials by market cap

Filing record · 2016–202610-K1110-Q338-K102

XYL filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 102 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’17Dec ’17
  2. Leadership change8-K · Aug ’20Aug ’20
  3. Deal closed8-K · May ’23May ’23
  4. FY2024 annual report10-K · Mar ’25Mar ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $9.04B
YoY changeLargest recent move+33.4%in FY23Latest +5.5%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All XYL Financial Metrics59 metrics

Income Statement14

Balance Sheet27

Cash Flow13

Per Share5

02—Overview

Xylem Financial Overview 2021–2025

Updated Nov 4, 2026

Xylem's revenue is 74% larger than it was four years ago, but most of that jump was bought, not built. Revenue rose from $5.195 billion in FY2021 to $9.04 billiona in FY2025, with the May 2023 Evoqua deal driving a 33.4% leap in FY2023. The thesis: the acquisition work is now showing up in margins, while the order book and organic growth are the open questions.

The margin story is the strongest part. Adjusted operating margin expanded from 11.8% in FY2021 to 17.8% in FY2025, and GAAP operating margin reached 13.5%, up from 11.8% in FY2024. Adjusted EPS climbed 19.0% to $5.08b, though GAAP EPS of $3.92 shows how much integration and restructuring cost still sits below the line. Free cash flow slipped 3% to $910 million. Liquidity ended FY2025 at about $2.5 billion.

The soft spots are visible. Backlog fell 9.0% to $4.62 billionc at the end of FY2025, and organic growth was just 1.3% in Q2 2026. By Q3 2026, management cut its full-year outlook to a roughly 1% revenue decline. Meanwhile, buybacks hit $1.58 billion in the first nine months of 2026, funded partly by new debt. Investors paid 34.7x earnings at the close of FY2025, a $33.2 billion market cap at $136.18 per share. That price assumed the margin gains would hold as growth cooled.

Recent Developments (Q2 and Q3 2026)

Xylem's Q2 2026 looked strong, then Q3 2026 reset expectations. Q2 orders jumped 42.0% to $3,086 milliond, and operating margin reached 16.7% versus 13.3%. Q3 revenue fell 3.0% to $2,201 million, as divestitures removed $80 million. Q3 adjusted EPS still rose to $1.44 from $1.37. Backlog reached $5,466 million. Management cut adjusted EPS guidance to $5.40–$5.45 from $5.55–$5.70.

Management is reshaping the portfolio. It plans to divest Applied Water International and Specialty Flow Control, and to move to three segments on January 1, 2027. It also agreed to buy Cornell Pump and Roper Pump for about $1,460 millione, financed partly by $1.5 billion of new notes. Andrea van der Berg became CFO on September 1, 2026.

Bull case: orders and backlog are rising while margins expand. Bear case: debt reached $2,895 million, cash fell to $708 million, and organic revenue is flat. At 23.7x earnings as of October 26, 2026, the stock is cheaper than at year-end, but that date is not today.

What to watch: Cornell and Roper closing in Q4 2026; divestiture proceeds and timing

03—Filings

Recent SEC Filings

  1. 8-KXylem 8-K Report, Financial Results (Oct 27, 2026)Xylem Inc. (NYSE: XYL) reported third-quarter 2026 results on October 27, 2026, with orders of $2.3 billion, up 7% on a reported basis and 10% organically, and revenue of $2.2 billion, down 3% on a reported basis and flat organically. Reported diluted EPS was $1.25, up 34%, while adjusted EPS was $1.44, up 5%. Net income attributable to Xylem was $291 million, and the adjusted EBITDA margin was 23.9%, up 70 basis points year over year, driven by productivity savings and price realization. Xylem lowered its full-year 2026 outlook. Revenue is now forecast at approximately $8.95 billion, down 1% on a reported basis (previously up 2%), and flat organically (previously up 2 to 3%). Adjusted EPS guidance is $5.40 to $5.45, down from $5.55 to $5.70, and free cash flow margin is expected at approximately 10.2%, versus 10.2% to 11.0% previously. The company also announced its intent to divest Applied Water International and Specialty Flow Control, and to reorganize from four segments into three (Treatment and Services, Flow Solutions, and Measurement and Analytics) beginning January 1, 2027. In a related 8-K item, Hayati Yarkadas, EVP and President of Water Infrastructure, will cease to be an executive officer effective January 1, 2027, as the Water Infrastructure segment is eliminated. He will remain employed through a transition period to lead the planned divestitures, with a $1.2 million special success incentive tied to closing the final divestiture and enhanced equity treatment on involuntary termination.
  2. 8-KXylem 8-K Report, Corporate Update (Sep 29, 2026)On September 29, 2026, Xylem Inc. completed a public offering of $1.5 billion in senior unsecured notes, consisting of three $500 million tranches: 5.250% Senior Notes due 2029, 5.450% Senior Notes due 2032, and 5.850% Senior Notes due 2037. The Company intends to use the net proceeds, together with cash on hand, to finance all or a portion of the purchase price for its previously announced acquisition of the Cornell Pump and Roper Pump businesses, pay associated costs and expenses, and for general corporate purposes. The Notes rank equally with all of Xylem's other unsecured and unsubordinated obligations. Interest on the 2029 Notes is payable semiannually on March 28 and September 28, beginning March 28, 2027, and interest on the 2032 and 2037 Notes is payable semiannually on January 15 and July 15, beginning January 15, 2027. The Indenture includes customary covenants limiting liens on certain property, sale and leaseback transactions above a threshold, and consolidations or mergers, as well as a change-of-control repurchase offer at 101% of principal if a change of control is accompanied or followed by a rating downgrade within a specified period. A key investor protection is the special mandatory redemption feature. If the Acquisition is not consummated by the later of August 10, 2027 and any extended termination date under the equity purchase agreement, if that agreement is terminated, or if the Company notifies the Trustee it will not pursue the Acquisition, the Company must redeem all Notes at 101% of principal plus accrued interest. The Notes were issued under a Form S-3 shelf registration statement (File No. 333-297937) and underwriting agreement dated September 15, 2026, with Citigroup Global Markets Inc. and others as representatives of the underwriters.
  3. 8-KXylem 8-K Report, Material Agreement (Sep 9, 2026)On September 8, 2026, Xylem Inc. entered into a new Five-Year Revolving Credit Facility Agreement (the "2026 Credit Agreement"), a senior unsecured revolving credit facility of up to $1.5 billion, available in U.S. dollars and Euros. The facility is arranged by a syndicate led by Citibank, N.A., BNP Paribas Securities Corp., ING Bank N.V., Dublin Branch, JPMorgan Chase Bank, N.A., and Wells Fargo Securities, LLC, with Citibank as Administrative Agent. The Company may request increases of up to $500 million, for a maximum aggregate principal amount of $2.0 billion, with lender consent. Proceeds are to be used for working capital and other general corporate purposes. No borrowings were outstanding under the facility as of the filing date. In connection with the new agreement, the Company terminated its Five-Year Revolving Credit Facility Agreement dated March 1, 2023 (the "2023 Credit Agreement"), which provided a $1.0 billion senior unsecured revolver with accordion increases of up to $300 million, for a maximum of $1.3 billion. The 2026 facility therefore represents a larger commitment than the facility it replaces, with a maximum potential size of $2.0 billion versus $1.3 billion previously. Key terms of the 2026 Credit Agreement include interest at a Term SOFR or EURIBOR rate plus an applicable margin, or a base rate at the Company's election. Pricing is set by a grid tied to the Company's credit rating, with an adjustment linked to an annual Sustainability Spread Adjustment. The agreement requires a consolidated total debt to consolidated EBITDA ratio, measured over the last four fiscal quarters, and contains customary covenants limiting secured debt, subsidiary debt, liens, sale and lease-back transactions, mergers, and asset sales. The Company may designate subsidiaries as borrowers, subject to conditions.
  4. 8-KXylem 8-K Report, Executive Changes (Aug 18, 2026)Xylem Inc. (NYSE: XYL) disclosed in an 8-K filed August 18, 2026 that Executive Vice President and Chief Financial Officer William K. Grogan will resign effective August 31, 2026 to pursue another professional opportunity. He will remain employed through September 13, 2026 to facilitate an orderly transition. The Board appointed Andrea van der Berg, currently Senior Vice President, Finance of the Water Infrastructure segment, as EVP and CFO effective September 1, 2026. She reports to President and CEO Matthew Pine and joins the Executive Leadership Team. Van der Berg, age 43, previously served as Vice President, Investor Relations (May 2022 to August 2024) and Vice President, Corporate Financial Planning and Analysis (April 2020 to May 2022), and held finance roles at MSCI Inc. and Honeywell International Inc. Her compensation package includes an annual base salary of $675,000, an AIP target of 80% of base salary, and a new LTIP target award of $1,750,000. She will also receive a one-time 2026 LTIP award with a grant date value of $787,500, granted on or about September 1, 2026, split across performance share units (50%), restricted stock units (25%) and stock options (25%). The filing states there are no related person transactions requiring disclosure. In a companion Item 7.01 press release (Exhibit 99.1), Xylem reaffirmed its third-quarter and full-year 2026 guidance, which was originally issued on July 28, 2026. The filing furnishes the release and states it is not deemed filed under Section 18 of the Exchange Act.
  5. 8-KXylem 8-K Report, Executive Changes (Aug 13, 2026)Xylem Inc. (NYSE: XYL) filed an 8-K on August 13, 2026 reporting the appointment of D. Christian Koch to its Board of Directors. The Board increased its size from 9 to 10 directors and filled the new seat with Mr. Koch, effective immediately. The Board also named him to the Leadership Development and Compensation Committee and the Nominating and Governance Committee, effective immediately. The Board determined that Mr. Koch is independent under the Company's Corporate Governance Principles, NYSE listing standards, and SEC rules. Mr. Koch currently serves as Chairman, President and Chief Executive Officer of Carlisle Companies Incorporated, which the press release describes as a supplier of building envelope products with approximately $5 billion in annual revenue. Prior to joining Carlisle in 2008, he held leadership roles at Graco Inc. and H.B. Fuller. The filing states he has more than 30 years of global leadership experience spanning operations, manufacturing, strategy and business transformation. He will receive standard non-employee director compensation, prorated for the current term, as described in the Company's 2026 Proxy Statement filed March 20, 2026. The filing does not report any financial results, guidance, or transactions. Its investor relevance is governance-related: a new independent director with public and private company board experience, added to the board's compensation and nominating committees.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.