Zurn Elkay Water Solutions Corp

zurnelkay.com

What Do They Do?

Makes water-control and flow systems, hygienic building fixtures, and filtered drinking-water products for institutional and commercial buildings, waterworks and residential projects.

How Do They Make Money?

Customers buy water-management products; the company bills for most sales when products ship, with payment generally due 30 days later.

FY2025 revenue

Who Are Their Customers?

Building owners and project teams specify water-management products for institutional, commercial, waterworks and residential projects. Independent sales representatives help specify products, while plumbing wholesalers and industry-specific distributors supply contractors.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2023: 20% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

16% of revenue

▲ +14% vs FY2024 ($244.6M, 16%)

Net income, FY2025

12% of revenue

▲ +24% vs FY2024 ($160.2M, 10%)

How Are They Changing?

Since the FY2025 annual report

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

Revenue: ▲ +9%; vs $455.4M in Q3 FY2025
Net income: ▲ +23%; vs $61.8M in Q3 FY2025

Jul 28, 2026 Completes Intellihot acquisition and raises 2026 outlook The company expects 2026 adjusted EBITDA of $503 million to $513 million and Intellihot sales of approximately $16 million for the remainder of 2026.
May 27, 2026 Names a new CFO as the CFO moves to COO David J. Pauli moved from CFO to COO, and Daniel J. Klun became CFO.

Growing. Revenue grew 86% in 4 years, from $910.9M in FY2021 to $1.7B in FY2025, about 17% a year.

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