Select Water Solutions, Inc. (WTTR) intrinsic value & 10-year financials

Select Water Solutions, Inc. (WTTR) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 18.6% a year to $1.4B, with an average return on invested capital of -21.9%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$18.58
Revenue (FY2025)
$1.4B
Revenue growth (10-yr CAGR)
18.6%
ROIC (10-yr avg)
-21.9%
Free cash flow (FY2025)
-$79.9M

WTTR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $1.4B $21.2M — -$79.9M 2.0% 2.9%
FY2024 $1.5B $30.6M — $61.7M 3.8% 4.6%
FY2023 $1.6B $74.4M — $149.5M 3.9% 7.8%
FY2022 $1.4B $48.3M — -$64.9M 2.8% 5.6%
FY2021 $764.6M -$42.2M — -$56.2M -8.6% -12.5%
FY2020 $605.1M -$338.7M — $84.6M -65.2% -55.5%
FY2019 $1.3B $2.8M — $93.8M 1.8% 1.5%
FY2018 $1.5B $36.5M — $67.0M 4.0% 7.6%
FY2017 $692.5M -$16.8M — -$101.6M -4.3% -3.9%
FY2016 $302.4M -$1.0M — -$31.2M -98.9% -176.5%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Select Water Solutions, Inc. is a consistent compounder, expanding top-line revenue at 18.6% annually over the past decade.

Select Water Solutions, Inc. has historically struggled to out-earn its cost of capital, averaging just -4.4% ROIC.

Select Water Solutions, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Select Water Solutions, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment.

WTTR stock: frequently asked questions

How fast has Select Water Solutions, Inc. grown?

Revenue went from $302.4M in fiscal 2016 to $1.4B in fiscal 2025, a compound annual growth rate of 18.6%. Net income was $21.2M in fiscal 2025.

Does Select Water Solutions, Inc. generate free cash flow?

Select Water Solutions, Inc. generated -$79.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 5 of the last 10 reported years.

What is WTTR's return on invested capital?

Average ROIC over the last 10 fiscal years was -21.9%, and average return on equity was -2.8%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this WTTR data come from?

From Select Water Solutions, Inc.'s annual 10-K filings on SEC EDGAR. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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