Filing Flows › Watts Water Technologies (WTS) › Q2 2026 › vs Q2 2025
Watts Water Technologies (WTS) Q2 2026 vs Q2 2025 (year over year)
Watts Water Technologies's revenue rose $120M (+19%) from $644M in Q2 2025 to $763M in Q2 2026. The biggest changes: Flow control and Protection +$77.0M (+20%); HVAC and Gas Products +$38.0M (+27%); Drainage and Water Re-use Products +$2.9M (+4%). Gross margin 49.0% against 50.6% (-1.6 pts).
Watts Water Technologies, Q2 2026: revenue $763M (+19% year over year), operating margin 20.2%, net earnings $118M, operating cash flow $103M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 49.0% | 50.6% | -1.6 pts |
| Operating margin | 20.2% | 21.0% | -0.8 pts |
| Net margin | 15.5% | 15.7% | -0.2 pts |
| Free cash flow margin | 12.0% | 9.2% | +2.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Flow control and Protection | $472M | $395M | $77.0M | +20% |
| HVAC and Gas Products | $181M | $143M | $38.0M | +27% |
| Drainage and Water Re-use Products | $78.8M | $75.9M | $2.9M | +4% |
| Water quality | $31.7M | $30.1M | $1.6M | +5% |
| Revenue | $763M | $644M | $120M | +19% |
| Gross profit | $374M | $326M | $48.2M | +15% |
| Cost of revenue | $389M | $318M | $71.3M | +22% |
| Operating profit | $154M | $135M | $18.7M | +14% |
| Operating expenses | $220M | $191M | $29.5M | +15% |
| Pre-tax earnings | $154M | $135M | $19.0M | +14% |
| Net earnings | $118M | $101M | $17.4M | +17% |
| Income tax | $35.4M | $33.8M | $1.6M | +5% |
| Depreciation & amortization | $15.8M | $14.5M | $1.3M | +9% |
| Share-based compensation | $8.3M | $6.6M | $1.7M | +26% |
| Working capital & other | $39.5M | $52.3M | −$12.8M | -24% |
| Operating cash flow | $103M | $69.7M | $33.2M | +48% |
| Free cash flow (OCF − capex) | $91.6M | $59.5M | $32.1M | +54% |
| Capital expenditures | $11.3M | $10.2M | $1.1M | +11% |
Questions
How much did Watts Water Technologies's revenue grow year over year in Q2 2026?
Watts Water Technologies's revenue rose $120M (+19%) from $644M in Q2 2025 to $763M in Q2 2026.
What drove Watts Water Technologies's revenue change in Q2 2026?
Flow control and Protection +$77.0M (+20%); HVAC and Gas Products +$38.0M (+27%); Drainage and Water Re-use Products +$2.9M (+4%).