Franklin Electric Co., Inc.

franklin-electric.com

What Do They Do?

Makes water-pumping systems for residential, agricultural, municipal and industrial uses, selling to specialty distributors, equipment makers and groundwater contractors. Also makes fuel-pumping and monitoring equipment for gas stations, oil companies and utilities.

How Do They Make Money?

Customers typically order Franklin’s products by purchase order, and Franklin counts the sale when the products ship.

revenue

Segment	Share	How money arrives
Water Systems Sold outright	59% FY2022: 57%	Sold outright
Distribution Sold outright	33% FY2022: 33%	Sold outright
Energy Systems Sold outright	14% FY2022: 16%	Sold outright

Who Are Their Customers?

Water and energy products are sold to specialty distributors, some equipment makers, industrial and petroleum equipment distributors, and major oil and utility companies. Headwater distributors provide products and presale support to U.S. groundwater contractors.

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2025 and turned 9 cents into free cash flow.

Operating income, FY2025

13% of revenue

▲ +10% vs FY2024 ($243.6M, 12%)

Net income, FY2025

7% of revenue

▼ −18% vs FY2024 ($180.3M, 9%)

Free cash flow, FY2025

9% of revenue

▼ −12% vs FY2024 ($219.7M, 11%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Net income: ▲ +255%; vs $17.2M in Q3 FY2025

Water Systems share of revenue vs 57.9% in Q3 FY2025

Sep 4, 2026 Acquired Cat Pumps, a maker of high-pressure pumps Cat Pumps makes pumps and accessories for commercial and industrial markets and will be reported in Energy Systems.
Jul 28, 2026 Raised full-year 2026 sales and adjusted EPS guidance Full-year net sales guidance is $2.21 billion to $2.29 billion, and adjusted diluted EPS guidance is $4.50 to $4.70.

Growing. Revenue grew 28% in 4 years, from $1.7B in FY2021 to $2.1B in FY2025, about 6% a year.

Groundwater distribution channels Groundwater equipment is sold through Franklin Electric's own and third-party U.S. distribution branches in the latest report; the older report described company-operated branches.

Revenue over time

Water Systems Distribution Energy Systems Fueling Systems

$2.5B$1.3B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Grundfos Management, Pentair, Xylem, Vontier, and Dover

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