Watts Water Technologies Inc. (WTS) intrinsic value & 10-year financials
Watts Water Technologies Inc. (WTS) has a Graham intrinsic value of $337.80 per share. At $356.70 on Oct 17, 2026, the stock trades 6% above that value. Over the last 10 fiscal years revenue grew 6.4% a year to $2.4B, with an average return on invested capital of 15.1%.
- Graham intrinsic value
- $337.80
- Share price (Oct 17, 2026)
- $356.70
- Price vs Graham value
- 6% above
- Market cap
- $11.9B
- Revenue (FY2025)
- $2.4B
- Revenue growth (10-yr CAGR)
- 6.4%
- ROIC (10-yr avg)
- 15.1%
- Free cash flow (FY2025)
- $356.3M
WTS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.4B | $340.8M | $10.17 | $356.3M | 18.4% | 19.8% |
| FY2024 | $2.3B | $291.2M | $8.69 | $325.8M | 17.3% | 19.2% |
| FY2023 | $2.1B | $262.1M | $7.82 | $281.1M | 17.1% | 19.6% |
| FY2022 | $2.0B | $251.5M | $7.48 | $195.9M | 15.9% | 22.5% |
| FY2021 | $1.8B | $165.7M | $4.88 | $154.1M | 13.2% | 15.3% |
| FY2020 | $1.5B | $114.3M | $3.36 | $185.0M | 12.0% | 11.3% |
| FY2019 | $1.6B | $131.5M | $3.85 | $164.8M | 12.3% | 13.2% |
| FY2018 | $1.6B | $128.0M | $3.73 | $133.5M | 12.0% | 13.2% |
| FY2017 | $1.5B | $73.1M | $2.12 | $126.5M | 11.1% | 7.9% |
| FY2016 | $1.4B | $84.2M | $2.44 | $102.1M | 10.4% | 9.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
WATTS WATER TECHNOLOGIES INC has demonstrated mature, steady growth, with revenue compounding at 6.4% annually over the past decade.
WATTS WATER TECHNOLOGIES INC has earned high returns on invested capital, averaging 15.1% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
WATTS WATER TECHNOLOGIES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, WATTS WATER TECHNOLOGIES INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $337.80 per share.