NYSE : FLS
Flowserve Corporation — Financial statements
Industrials · Specialty Industrial Machinery · United States
Last price 79.01 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 10.02B
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Financial statements
Flowserve Corporation (FLS) reported revenue of 4.70B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.70B | 4.73B | 4.56B | 4.32B | 3.62B | 3.54B |
| Cost of Revenue | 3.04B | 3.09B | 3.09B | 3.02B | 2.61B | 2.47B |
| Gross Profit | 1.66B | 1.64B | 1.47B | 1.30B | 1.00B | 1.07B |
| Selling, General & Admin | 984.74M | 945.77M | 884.24M | 849.80M | 741.47M | 747.01M |
| Research & Development | 54.10M | 54.10M | 69.90M | 48.70M | 39.90M | 34.20M |
| Operating Expenses | 1.04B | 999.87M | 954.14M | 898.50M | 781.37M | 781.21M |
| Operating Income | 619.46M | 636.22M | 514.38M | 399.34M | 222.15M | 285.36M |
| Interest Expense | -92.34M | -77.74M | -69.30M | -66.92M | -46.25M | -57.62M |
| Interest & Investment Income | 11.37M | 7.55M | 5.37M | 6.99M | 3.96M | 2.76M |
| Earnings From Equity Investments | 46.88M | 20.68M | 19.05M | 17.89M | 18.47M | 16.30M |
| Currency Exchange Gain (Loss) | -9.50M | -43.90M | 2.30M | -41.10M | 9.70M | -27.40M |
| Other Non Operating Income (Expenses) | -1.30M | 260.13M | -8.45M | -4.31M | -14.46M | -8.96M |
| EBT Excluding Unusual Items | 574.57M | 802.95M | 463.35M | 311.89M | 193.57M | 210.45M |
| Merger & Restructuring Charges | -130.96M | -101.16M | -36.52M | -66.04M | 165.00K | -22.49M |
| Gain (Loss) on Sale of Assets | -123.92M | -140.09M | -12.98M | 1.81M | ||
| Legal Settlements | -36.30M | -22.70M | -22.10M | -14.80M | -10.00M | |
| Other Unusual Items | 35.40M | -5.00M | -24.56M | -46.18M | ||
| Pretax Income | 355.10M | 525.40M | 386.15M | 223.75M | 154.38M | 133.59M |
| Income Tax Expense | 81.83M | 155.60M | 84.93M | 18.56M | -43.64M | -2.59M |
| Earnings From Continuing Operations | 273.27M | 369.80M | 301.23M | 205.19M | 198.01M | 136.18M |
| Minority Interest in Earnings | -18.55M | -23.55M | -18.47M | -18.45M | -9.33M | -10.23M |
| Net Income | 254.72M | 346.25M | 282.76M | 186.74M | 188.69M | 125.95M |
| Net Income to Common | 254.72M | 346.25M | 282.76M | 186.74M | 188.69M | 125.95M |
| Shares Outstanding (Basic) | 127.40M | 130.00M | 131.49M | 131.12M | 130.63M | 130.31M |
| Shares Outstanding (Diluted) | 128.34M | 130.98M | 132.36M | 131.93M | 131.31M | 130.86M |
| EPS (Basic) | 2.00 | 2.66 | 2.15 | 1.42 | 1.44 | 0.97 |
| EPS (Diluted) | 1.98 | 2.64 | 2.14 | 1.42 | 1.44 | 0.96 |
| Free Cash Flow | 153.66M | 434.96M | 344.29M | 258.41M | -116.30M | 195.18M |
| Free Cash Flow Per Share | 1.20 | 3.32 | 2.60 | 1.96 | -0.89 | 1.49 |
| Dividend Per Share | 0.87 | 0.84 | 0.84 | 0.80 | 0.80 | 0.80 |
| Gross Margin | 35.30% | 34.59% | 32.22% | 30.04% | 27.76% | 30.12% |
| Operating Margin | 13.19% | 13.45% | 11.29% | 9.24% | 6.14% | 8.06% |
| Profit Margin | 5.42% | 7.32% | 6.20% | 4.32% | 5.22% | 3.56% |
| Free Cash Flow Margin | 3.27% | 9.20% | 7.55% | 5.98% | -3.22% | 5.51% |
| EBITDA | 728.50M | 731.68M | 599.98M | 483.09M | 313.10M | 385.19M |
| EBITDA Margin | 15.51% | 15.47% | 13.16% | 11.18% | 8.66% | 10.88% |
| D&A For EBITDA | 109.05M | 95.45M | 85.60M | 83.75M | 90.95M | 99.82M |
| EBIT | 619.46M | 636.22M | 514.38M | 399.34M | 222.15M | 285.36M |
| EBIT Margin | 13.19% | 13.45% | 11.29% | 9.24% | 6.14% | 8.06% |
| Effective Tax Rate | 23.04% | 29.62% | 21.99% | 8.30% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 742.15M | 760.18M | 675.44M | 545.68M | 434.97M | 658.45M |
| Cash & Short-Term Investments | 742.15M | 760.18M | 675.44M | 545.68M | 434.97M | 658.45M |
| Accounts Receivable | 1.41B | 1.34B | 1.26B | 1.15B | 1.09B | 910.61M |
| Other Receivables | 14.39M | 20.22M | 14.06M | 16.03M | 24.19M | |
| Receivables | 1.41B | 1.35B | 1.28B | 1.16B | 1.10B | 934.81M |
| Inventory | 844.12M | 789.90M | 837.25M | 879.94M | 803.20M | 678.29M |
| Prepaid Expenses | 126.69M | 138.52M | 111.52M | 114.15M | 108.51M | 116.39M |
| Other Current Assets | 1.13M | 2.72M | 4.63M | 1.92M | 2.21M | 740.00K |
| Total Current Assets | 3.13B | 3.04B | 2.90B | 2.70B | 2.45B | 2.39B |
| Property, Plant & Equipment | 763.77M | 732.78M | 699.10M | 662.59M | 675.92M | 709.79M |
| Goodwill | 1.70B | 1.39B | 1.29B | 1.18B | 1.17B | 1.20B |
| Other Intangible Assets | 369.75M | 198.47M | 188.60M | 122.25M | 134.50M | 152.46M |
| Long-Term Accounts Receivable | 1.52M | 247.00K | 923.00K | 1.03M | 297.00K | 426.00K |
| Long-Term Deferred Tax Assets | 181.60M | 156.25M | 221.74M | 218.36M | 149.29M | 44.05M |
| Other Long-Term Assets | 203.71M | 185.57M | 199.66M | 218.49M | 211.52M | 257.88M |
| Total Assets | 6.35B | 5.71B | 5.50B | 5.11B | 4.79B | 4.75B |
| Accounts Payable | 556.53M | 554.24M | 545.31M | 547.82M | 476.75M | 410.06M |
| Accrued Expenses | 555.09M | 510.75M | 502.19M | 453.27M | 368.34M | 371.24M |
| Current Portion of Long-Term Debt | 9.89M | 40.72M | 44.06M | 66.24M | 49.34M | 41.06M |
| Current Portion of Leases | 38.09M | 44.78M | 33.56M | 32.38M | 32.53M | 32.63M |
| Current Income Taxes Payable | 40.01M | 28.00M | 24.64M | 32.97M | 47.19M | |
| Current Unearned Revenue | 329.38M | 274.67M | 283.67M | 287.70M | 256.96M | 202.97M |
| Other Current Liabilities | 1.68M | 36.72M | 31.29M | 26.52M | 26.27M | 26.66M |
| Total Current Liabilities | 1.49B | 1.50B | 1.47B | 1.44B | 1.24B | 1.13B |
| Long-Term Debt | 2.02B | 1.50B | 1.44B | 1.15B | 1.21B | 1.25B |
| Long-Term Leases | 192.83M | 170.26M | 169.83M | 158.04M | 173.13M | 183.26M |
| Long-Term Unearned Revenue | 5.67M | 1.06M | 464.00K | |||
| Pension & Post-Retirement Benefits | 257.06M | 184.24M | 195.44M | 202.58M | 142.20M | 189.00M |
| Long-Term Deferred Tax Liabilities | 8.46M | 1.77M | 1.33M | 7.90M | 9.17M | |
| Other Long-Term Liabilities | 33.00K | 84.52M | 173.84M | 185.20M | 158.37M | 153.43M |
| Total Liabilities | 3.96B | 3.45B | 3.45B | 3.13B | 2.93B | 2.91B |
| Common Stock | 220.99M | 220.99M | 220.99M | 220.99M | 220.99M | 220.99M |
| Additional Paid-In Capital | 504.79M | 508.89M | 502.05M | 506.52M | 507.48M | 506.39M |
| Retained Earnings | 4.46B | 4.26B | 4.03B | 3.85B | 3.77B | 3.69B |
| Treasury Stock | -2.29B | -2.23B | -2.01B | -2.01B | -2.04B | -2.06B |
| Comprehensive Income & Other | -584.71M | -568.78M | -733.25M | -631.66M | -640.81M | -556.38M |
| Total Common Equity | 2.31B | 2.19B | 2.01B | 1.94B | 1.82B | 1.80B |
| Minority Interest | 71.87M | 62.93M | 44.05M | 38.95M | 33.61M | 33.03M |
| Shareholders' Equity | 2.38B | 2.25B | 2.05B | 1.98B | 1.86B | 1.84B |
| Total Liabilities & Equity | 6.35B | 5.71B | 5.50B | 5.11B | 4.79B | 4.75B |
| Total Debt | 2.26B | 1.76B | 1.69B | 1.40B | 1.46B | 1.50B |
| Net Cash (Debt) | -1.52B | -1.00B | -1.01B | -858.92M | -1.03B | -843.79M |
| Net Cash Per Share | -11.81 | -7.64 | -7.65 | -6.51 | -7.82 | -6.45 |
| Filing Date Shares Outstanding | 126.81M | 127.26M | 131.75M | 131.23M | 131.12M | 130.40M |
| Total Common Shares Outstanding | 126.62M | 127.03M | 131.10M | 130.91M | 130.43M | 130.00M |
| Working Capital | 1.64B | 1.54B | 1.44B | 1.27B | 1.21B | 1.26B |
| Book Value Per Share | 18.26 | 17.25 | 15.31 | 14.79 | 13.99 | 13.88 |
| Tangible Book Value | 243.82M | 600.93M | 532.77M | 631.63M | 522.37M | 455.38M |
| Tangible Book Value Per Share | 1.93 | 4.73 | 4.06 | 4.82 | 4.00 | 3.50 |
| Land | 68.51M | 61.35M | 60.31M | 60.67M | 62.61M | |
| Buildings | 479.43M | 450.72M | 427.33M | 425.02M | 441.63M | |
| Machinery | 867.91M | 803.36M | 781.77M | 750.93M | 751.94M | |
| Order Backlog | 2.87B | 2.79B | 2.70B | 2.74B | 2.00B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 254.72M | 346.25M | 282.76M | 186.74M | 188.69M | 125.95M |
| Depreciation & Amortization | 109.05M | 95.45M | 85.60M | 83.75M | 90.95M | 99.82M |
| Loss (Gain) From Sale of Assets | -16.18M | 12.98M | ||||
| Stock-Based Compensation | 42.95M | 38.26M | 30.47M | 27.81M | 25.53M | 29.48M |
| Other Operating Activities | 1.20M | 8.33M | 42.64M | 1.11M | -18.43M | 86.18M |
| Change in Accounts Receivable | 11.77M | -12.59M | -100.70M | -36.41M | -193.78M | 65.66M |
| Change in Inventory | 52.53M | 86.68M | 38.87M | -59.83M | -147.49M | -32.12M |
| Change in Accounts Payable | -94.20M | -28.85M | -12.34M | 53.06M | 78.97M | -19.50M |
| Change in Unearned Revenue | 13.11M | -23.50M | -6.07M | 26.84M | 61.68M | 14.20M |
| Change in Other Net Operating Assets | -96.81M | -52.10M | 66.15M | 105.53M | 10.80M | -28.34M |
| Operating Cash Flow | 230.11M | 505.88M | 425.31M | 325.77M | -40.01M | 250.12M |
| Capital Expenditures | -76.45M | -70.93M | -81.02M | -67.36M | -76.29M | -54.94M |
| Sale of Property, Plant & Equipment | 20.27M | 11.55M | 2.24M | 2.06M | 4.42M | 2.66M |
| Cash Acquisitions | -583.62M | -65.88M | -305.92M | |||
| Divestitures | 34.57M | -2.56M | ||||
| Investment in Securities | -7.01M | 96.00K | 40.00K | -3.28M | -225.00K | -7.20M |
| Other Investing Activities | 66.00M | |||||
| Investing Cash Flow | -612.24M | -125.16M | -387.21M | -68.58M | -6.09M | -59.48M |
| Long-Term Debt Issued | 215.31M | 467.44M | 281.11M | 46.73M | 799.69M | |
| Total Debt Issued | 879.89M | 215.31M | 467.44M | 281.11M | 46.73M | 799.69M |
| Long-Term Debt Repaid | -143.39M | -196.83M | -322.60M | -79.29M | -1.25B | |
| Total Debt Repaid | -307.89M | -143.39M | -196.83M | -322.60M | -79.29M | -1.25B |
| Net Debt Issued (Repaid) | 572.00M | 71.92M | 270.61M | -41.49M | -32.56M | -453.45M |
| Repurchase of Common Stock | -155.45M | -266.61M | -29.65M | -6.25M | -4.68M | -23.52M |
| Common Dividends Paid | -109.85M | -109.64M | -110.44M | -104.95M | -104.55M | -104.60M |
| Other Financing Activities | -11.71M | -22.60M | -13.02M | -324.00K | -8.22M | -18.14M |
| Financing Cash Flow | 294.99M | -326.93M | 117.50M | -153.01M | -150.01M | -599.71M |
| Foreign Exchange Rate Adjustments | -4.56M | 30.95M | -25.83M | 6.53M | -27.37M | -27.76M |
| Net Cash Flow | -91.70M | 84.74M | 129.76M | 110.71M | -223.48M | -436.82M |
| Free Cash Flow | 153.66M | 434.96M | 344.29M | 258.41M | -116.30M | 195.18M |
| Free Cash Flow Margin | 3.27% | 9.20% | 7.55% | 5.98% | -3.22% | 5.51% |
| Free Cash Flow Per Share | 1.20 | 3.32 | 2.60 | 1.96 | -0.89 | 1.49 |
| Levered Free Cash Flow | 368.73M | 384.12M | 292.79M | 288.52M | -32.47M | 256.01M |
| Unlevered Free Cash Flow | 426.44M | 432.70M | 336.10M | 330.35M | -3.57M | 292.02M |
| Cash Interest Paid | 75.47M | 75.47M | 66.81M | 64.86M | 41.63M | 72.25M |
| Cash Income Tax Paid | 92.33M | 92.33M | 81.17M | 119.28M | 60.09M | 65.62M |
| Change in Working Capital | -137.08M | 17.59M | -29.14M | 26.36M | -326.75M | -91.31M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.02B | 8.82B | 7.56B | 5.41B | 4.01B | 3.99B |
| Enterprise Value | 11.53B | 9.72B | 8.43B | 6.47B | 5.16B | 4.87B |
| Last Close Price | 79.01 | 68.77 | 56.16 | 39.58 | 28.82 | 27.96 |
| PE Ratio | 39.98 | 25.47 | 26.73 | 28.96 | 21.25 | 31.65 |
| Forward PE | 17.52 | 17.84 | 18.35 | 17.27 | 19.47 | 17.32 |
| PS Ratio | 2.13 | 1.86 | 1.66 | 1.25 | 1.11 | 1.13 |
| PB Ratio | 4.33 | 3.91 | 3.68 | 2.74 | 2.16 | 2.17 |
| P/TBV Ratio | 41.09 | 14.68 | 14.18 | 8.56 | 7.68 | 8.75 |
| P/FCF Ratio | 65.20 | 20.28 | 21.95 | 20.93 | 20.42 | |
| P/OCF Ratio | 43.54 | 17.43 | 17.77 | 16.60 | 15.94 | |
| PEG Ratio | 1.61 | 1.25 | 1.18 | 0.85 | 1.48 | 1.47 |
| EV/Sales Ratio | 2.46 | 2.06 | 1.85 | 1.50 | 1.43 | 1.38 |
| EV/EBITDA Ratio | 15.83 | 13.28 | 14.05 | 13.38 | 16.48 | 12.65 |
| EV/EBIT Ratio | 18.62 | 15.27 | 16.39 | 16.19 | 23.22 | 17.08 |
| EV/FCF Ratio | 75.07 | 22.34 | 24.48 | 25.02 | 24.97 | |
| Debt / Equity Ratio | 0.95 | 0.78 | 0.82 | 0.71 | 0.79 | 0.82 |
| Debt / EBITDA Ratio | 2.83 | 2.20 | 2.53 | 2.57 | 3.84 | 3.32 |
| Debt / FCF Ratio | 14.70 | 4.05 | 4.90 | 5.43 | 7.70 | |
| Net Debt / Equity Ratio | 0.64 | 0.44 | 0.49 | 0.43 | 0.55 | 0.46 |
| Net Debt / EBITDA Ratio | 2.08 | 1.37 | 1.69 | 1.78 | 3.28 | 2.19 |
| Net Debt / FCF Ratio | 9.87 | 2.30 | 2.94 | 3.32 | -8.82 | 4.32 |
| Asset Turnover | 0.77 | 0.84 | 0.86 | 0.87 | 0.76 | 0.70 |
| Inventory Turnover | 3.59 | 3.80 | 3.60 | 3.59 | 3.53 | 3.68 |
| Quick Ratio | 1.45 | 1.41 | 1.33 | 1.19 | 1.24 | 1.41 |
| Current Ratio | 2.10 | 2.03 | 1.98 | 1.88 | 1.97 | 2.11 |
| Return on Equity (ROE) | 11.61% | 17.18% | 14.96% | 10.71% | 10.71% | 7.57% |
| Return on Assets (ROA) | 6.36% | 7.09% | 6.06% | 5.04% | 2.91% | 3.54% |
| Return on Invested Capital (ROIC) | 12.20% | 14.17% | 13.61% | 12.81% | 7.98% | 10.76% |
| Return on Capital Employed (ROCE) | 12.80% | 15.10% | 12.80% | 10.90% | 6.30% | 7.90% |
| Earnings Yield | 2.50% | 3.93% | 3.74% | 3.45% | 4.71% | 3.16% |
| FCF Yield | 1.53% | 4.93% | 4.56% | 4.78% | -2.90% | 4.90% |
| Dividend Yield | 1.11% | 1.21% | 1.46% | 1.94% | 2.60% | 2.61% |
| Payout Ratio | 44.53% | 31.66% | 39.06% | 56.20% | 55.41% | 83.05% |
| Buyback Yield / Dilution | 2.76% | 1.04% | -0.32% | -0.47% | -0.35% | 0.15% |
| Total Shareholder Return | 3.87% | 2.25% | 1.14% | 1.47% | 2.25% | 2.76% |