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Watts Water Technologies cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$132M in Q3 2026 · $370M over twelve months

Operating cash flow$158M
Capital spending−$26.2M
Free cash flow+$132M
Cash / net income1.1×
Cash conversion cycle156 days

Analysis

In Q3 2026, Watts Water Technologies generated $158M of operating cash flow and spent $26.2M on capital projects, leaving free cash flow of $132M.

Over the twelve months to Sep 27, 2026, operating cash flow was $434M; the largest uses were acquisitions ($173M), other financing ($103M), dividends ($77.5M); besides operations, cash came from other investing ($100K); the cash balance fell by $12.9M.

Operating cash flow was $158M against net income of $145M — 1.1× profit, roughly in line with earnings. The largest differences: inventory −$29.2M, depreciation & amortization +$16.3M, other liabilities +$12.9M.

Its cash conversion cycle was 156 days (receivables 50 + inventory 156 − payables 50).

Free cash flow

Watts Water Technologies: free cash flow by quarterWatts Water Technologies: free cash flow by quarter$128MQ4 2024$45.6MQ1 2025$59.5MQ2 2025$111MQ3 2025$140MQ4 2025$6.6MQ1 2026$91.6MQ2 2026$132MQ3 2026
Operating cash flow less capital spending.
Watts Water Technologies: operating cash flow against capital spendingWatts Water Technologies: operating cash flow against capital spendingOperating cash flowCapital spending$140M$12.0MQ4 2024$55.2M$9.6MQ1 2025$69.7M$10.2MQ2 2025$122M$11.5MQ3 2025$155M$14.4MQ4 2025$17.9M$11.3MQ1 2026$103M$11.3MQ2 2026$158M$26.2MQ3 2026
Latest (Q3 2026): Operating cash flow $158M, Capital spending $26.2M.

Capital allocation, year by year

Watts Water Technologies: where the cash came from (up) and went (down), by fiscal yearWatts Water Technologies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $181MFY2021: Net borrowing −$56.4MFY2021: Shares issued $100KFY2021: Asset sales $5.1MFY2021: Capital spending −$26.7MFY2021: Acquisitions −$9.1MFY2021: Buybacks −$16.0MFY2021: Dividends −$34.3M$186MFY2021FY2022: Operating cash flow $224MFY2022: Shares issued $200KFY2022: Asset sales $5.2MFY2022: Capital spending −$28.1MFY2022: Buybacks −$69.4MFY2022: Dividends −$39.5M$229MFY2022FY2023: Operating cash flow $311MFY2023: Net borrowing $147MFY2023: Shares issued $100KFY2023: Capital spending −$29.7MFY2023: Acquisitions −$313MFY2023: Buybacks −$16.0MFY2023: Dividends −$46.5M$458MFY2023FY2024: Operating cash flow $361MFY2024: Net borrowing −$103MFY2024: Asset sales $5.9MFY2024: Capital spending −$35.3MFY2024: Acquisitions −$96.3MFY2024: Buybacks −$17.0MFY2024: Dividends −$55.5M$367MFY2024FY2025: Operating cash flow $402MFY2025: Net borrowing −$2.6MFY2025: Capital spending −$45.7MFY2025: Acquisitions −$257MFY2025: Buybacks −$16.0MFY2025: Dividends −$66.9M$402MFY2025
Over these 5 years operating cash flow totalled $1.5B; the largest uses were acquisitions ($676M) and dividends ($243M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$445M
Debt$98.2M
Net cash$347M

Watts Water Technologies funds itself: free cash flow was $370M over the last twelve months, and $445M of cash and investments stands against $98.2M of debt.

Where the cash came from and went

Watts Water Technologies: sources (+) and uses (−) of cash, Q3 2026Watts Water Technologies: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$158MCash drawn (+) / kept (−)−$96.9MCapital spending−$26.2MDividends−$21.2MNet borrowing (+) / repaid (−)−$10.0MBuybacks−$3.9MExchange rates$800KOther financing−$800KOther investing$100K
Watts Water Technologies: sources (+) and uses (−) of cash, TTM to Q3 2026Watts Water Technologies: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$434MAcquisitions−$173MOther financing−$103MDividends−$77.5MCapital spending−$63.2MBuybacks−$16.0MTaxes on employees’ shares−$13.1MCash drawn (+) / kept (−)$12.9MExchange rates−$800KOther investing$100K

From profit to cash

Watts Water Technologies: net income to operating cash flow, Q3 2026Watts Water Technologies: net income to operating cash flow, Q3 2026Net income$145MDepreciation & amortization$16.3MStock-based pay$7.5MReceivables$5.4MInventory−$29.2MPrepaid and other assets$1.0MOther liabilities$12.9MOperating cash flow$158M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265015650156
Q2 20264612743130
Q1 20264313446131
Q4 20254614650142
Q3 20254913248133
Q2 20254512448121
Q1 20254412648123
Q4 20244713147131

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$158M−$26.2M—−$3.9M−$21.2M−$10.0M−$96.9M$132M
Q2 2026$103M−$11.3M$200K−$4.1M−$21.3M—$26.8M$91.6M
Q1 2026$17.9M−$11.3M−$1.9M−$3.8M−$17.5M—$30.8M$6.6M
Q4 2025$155M−$14.4M−$171M−$4.2M−$17.5M—$52.2M$140M
Q3 2025$122M−$11.5M—−$3.9M−$17.4M—−$88.4M$111M
Q2 2025$69.7M−$10.2M−$15.4M−$4.0M−$17.6M—−$32.5M$59.5M
Q1 2025$55.2M−$9.6M−$70.3M−$3.9M−$14.4M—$50.1M$45.6M
Q4 2024$140M−$12.0M—−$4.0M−$14.4M−$15.0M−$83.0M$128M

Watts Water Technologies: income statement and cash flow

Watts Water Technologies, Q3 2026: revenue $728M (+19% year over year), operating margin 26.2%. The chart follows the revenue to costs, profit and cash.

Watts Water Technologies: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.