Zurn Elkay Water Solutions Corp. (ZWS) intrinsic value & 10-year financials
Zurn Elkay Water Solutions Corp. (ZWS) has a Graham intrinsic value of $21.05 per share. At $47.06 on Oct 17, 2026, the stock trades 124% above that value. Over the last 10 fiscal years revenue shrank 1.4% a year to $1.7B, with an average return on invested capital of 8.0%.
- Graham intrinsic value
- $21.05
- Share price (Oct 17, 2026)
- $47.06
- Price vs Graham value
- 124% above
- Market cap
- $8.1B
- Revenue (FY2025)
- $1.7B
- Revenue growth (10-yr CAGR)
- -1.4%
- ROIC (10-yr avg)
- 8.0%
- Free cash flow (FY2025)
- —
ZWS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.7B | $198.0M | $1.15 | — | 16.4% | 11.1% |
| FY2024 | $1.6B | $160.2M | $0.92 | — | 15.6% | 9.5% |
| FY2023 | $1.5B | $112.7M | $0.64 | — | 12.5% | 6.8% |
| FY2022 | $1.3B | $61.7M | $0.40 | — | 8.4% | 5.7% |
| FY2021 | $910.9M | $120.9M | $0.97 | — | 11.7% | 7.3% |
| FY2020 | $2.1B | $180.1M | $1.45 | $257.2M | 16.2% | 11.5% |
| FY2019 | $2.1B | $34.3M | $0.28 | $215.6M | 14.9% | 6.8% |
| FY2018 | $1.9B | $75.9M | $0.50 | $187.8M | 7.9% | 6.5% |
| FY2017 | $1.7B | $74.1M | $0.64 | $140.6M | 10.7% | 7.9% |
| FY2016 | $1.9B | $67.9M | $0.66 | $166.9M | 9.1% | 6.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Zurn Elkay Water Solutions Corp is facing top-line stagnation, with revenue contracting over the decade.
Zurn Elkay Water Solutions Corp returns on capital have been average, hovering around 8.0% ROIC over the decade.
Zurn Elkay Water Solutions Corp 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, Zurn Elkay Water Solutions Corp is modeled at 6.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $21.05 per share.