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Zurn Elkay Water Solutions cash flow, quarter by quarter

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

Free cash flow$112M in Q3 2026 · $412M over twelve months

Operating cash flow$112M
Free cash flow+$112M
Cash / net income1.5×
Cash conversion cycle120 days

Analysis

In Q3 2026, Zurn Elkay Water Solutions generated $112M of operating cash flow. That is $10.9M more than in Q3 2025 ($101M).

Over the twelve months to Sep 30, 2026, operating cash flow was $412M; the largest uses were buybacks ($160M), other investing ($133M), dividends ($73.5M); besides operations, cash came from other financing ($700K); the cash balance rose by $47.0M.

Operating cash flow was $112M against net income of $76.3M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$21.5M, inventory +$15.8M, stock-based pay +$10.6M.

Its cash conversion cycle was 120 days (receivables 50 + inventory 105 − payables 34).

Free cash flow

Zurn Elkay Water Solutions: free cash flow by quarterZurn Elkay Water Solutions: free cash flow by quarter$63.6MQ4 2024$42.9MQ1 2025$111MQ2 2025$101MQ3 2025$91.7MQ4 2025$46.1MQ1 2026$162MQ2 2026$112MQ3 2026
Operating cash flow less capital spending.
Zurn Elkay Water Solutions: operating cash flow against capital spendingZurn Elkay Water Solutions: operating cash flow against capital spendingOperating cash flowCapital spending$63.6M$0Q4 2024$42.9M$0Q1 2025$111M$0Q2 2025$101M$0Q3 2025$91.7M$0Q4 2025$46.1M$0Q1 2026$162M$0Q2 2026$112M$0Q3 2026
Latest (Q3 2026): Operating cash flow $112M, Capital spending $0.

Capital allocation, year by year

Zurn Elkay Water Solutions: where the cash came from (up) and went (down), by fiscal yearZurn Elkay Water Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesAcquisitionsBuybacksDividendsFY2021: Operating cash flow $224MFY2021: Net borrowing −$577MFY2021: Shares issued $24.9MFY2021: Asset sales $14.3MFY2021: Acquisitions −$17.1MFY2021: Buybacks −$900KFY2021: Dividends −$36.4M$263MFY2021FY2022: Operating cash flow $97.0MFY2022: Net borrowing −$5.9MFY2022: Shares issued $2.5MFY2022: Asset sales $1.3MFY2022: Acquisitions −$44.8MFY2022: Buybacks −$24.7MFY2022: Dividends −$32.5M$101MFY2022FY2023: Operating cash flow $254MFY2023: Net borrowing −$65.7MFY2023: Shares issued $4.3MFY2023: Asset sales $7.7MFY2023: Buybacks −$125MFY2023: Dividends −$50.4M$266MFY2023FY2024: Operating cash flow $294MFY2024: Asset sales $1.6MFY2024: Buybacks −$150MFY2024: Dividends −$56.6M$295MFY2024FY2025: Operating cash flow $346MFY2025: Net borrowing −$1.6MFY2025: Buybacks −$160MFY2025: Dividends −$63.9M$346MFY2025
Over these 5 years operating cash flow totalled $1.2B; the largest uses were net borrowing ($650M) and buybacks ($461M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$307M
Debt$500M
Net debt$193M
Due within a year$900K

Zurn Elkay Water Solutions funds itself: free cash flow was $412M over the last twelve months, and $307M of cash and investments stands against $500M of debt ($900K due within a year, 341.2× covered by cash).

Zurn Elkay Water Solutions: debt maturities by year (FY2025)Zurn Elkay Water Solutions: debt maturities by year (FY2025)$900KYear 1$1.0MYear 2$482MYear 3$1.3MYear 4$1.4MYear 5$14.4MAfter year 5
Principal due in each year as disclosed in the annual report, against $307M of cash and investments now.

Where the cash came from and went

Zurn Elkay Water Solutions: sources (+) and uses (−) of cash, Q3 2026Zurn Elkay Water Solutions: sources (+) and uses (−) of cash, Q3 2026Other investing−$117MOperating cash flow$112MCash drawn (+) / kept (−)$57.9MBuybacks−$35.1MDividends−$18.2MOther financing$900KNet borrowing (+) / repaid (−)−$400KExchange rates−$200K
Zurn Elkay Water Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Zurn Elkay Water Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$412MBuybacks−$160MOther investing−$133MDividends−$73.5MCash drawn (+) / kept (−)−$47.0MOther financing$700KExchange rates−$200K

From profit to cash

Zurn Elkay Water Solutions: net income to operating cash flow, Q3 2026Zurn Elkay Water Solutions: net income to operating cash flow, Q3 2026Net income$76.3MDepreciation & amortization$21.5MStock-based pay$10.6MOther non-cash$600KReceivables$10.0MInventory$15.8MPayables−$8.4MAccrued liabilities−$6.4MPrepaid and other assets−$600KOperating cash flow$112M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265010534120
Q2 20264813044134
Q1 20264411233124
Q4 20254711130128
Q3 2025489931116
Q2 20254910535119
Q1 20255212036135
Q4 20245512137140

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$112M−$35.1M−$18.2M−$400K$57.9M$112M
Q2 2026$162M−$49.6M−$18.4M−$300K−$91.5M$162M
Q1 2026$46.1M−$50.0M−$18.4M−$300K$27.0M$46.1M
Q4 2025$91.7M−$25.0M−$18.5M−$200K−$40.4M$91.7M
Q3 2025$101M−$25.0M−$15.1M−$200K−$58.2M$101M
Q2 2025$111M−$32.5M−$15.1M—−$57.2M$111M
Q1 2025$42.9M−$77.4M−$15.2M—$53.3M$42.9M
Q4 2024$63.6M−$20.3M−$15.3M−$200K−$10.1M$63.6M

Zurn Elkay Water Solutions: income statement and cash flow

Zurn Elkay Water Solutions, Q3 2026: revenue $495M (+9% year over year), operating margin 21.9%. The chart follows the revenue to costs, profit and cash.

Zurn Elkay Water Solutions: 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.