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Flowserve Corporation (FLS) 10-Year Financial Performance & Capital Metrics

FLS • • Industrial / General
IndustrialsIndustrial MachineryFluid Handling & Pumping SystemsIndustrial Pumps & Valves
AboutFlowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines. The FCD segment provides engineered and industrial valve and automation solutions, including isolation and control valves, actuation, controls, and related equipment, as well as equipment maintenance services for flow control systems, including advanced diagnostics, repair, installation, commissioning, retrofit programs, and field machining capabilities. This segment's products are used to control, direct, and manage the flow of liquids, gases, and fluids. The company primarily serves oil and gas, chemical and pharmaceuticals, power generation, and water management markets, as well as general industries, including mining and ore processing, pulp and paper, food and beverage, and other smaller applications. The company distributes its products through direct sales, distributors, and sales representatives. Flowserve Corporation was incorporated in 1912 and is headquartered in Irving, Texas.Show more
  • Revenue $4.56B +5.5%
  • EBITDA $601M +23.3%
  • Net Income $283M +51.4%
  • EPS (Diluted) 2.14 +50.7%
  • Gross Margin 32.16% +7.1%
  • EBITDA Margin 13.19% +16.9%
  • Operating Margin 11.31% +21.0%
  • Net Margin 6.2% +43.5%
  • ROE 14.04% +44.2%
  • ROIC 13.11% +23.8%
  • Debt/Equity 0.82 +15.7%
  • Interest Coverage 7.44 +23.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.68%
5Y2.93%
3Y8.78%
TTM3.19%

Profit (Net Income) CAGR

10Y-5.89%
5Y2.2%
3Y30.94%
TTM69.05%

EPS CAGR

10Y-5.38%
5Y3.41%
3Y30.63%
TTM70.3%

ROCE

10Y Avg10.25%
5Y Avg9.26%
3Y Avg9.99%
Latest13.38%

Peer Comparison

Industrial Pumps & Valves
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
GHMGraham Corporation808.38M73.5766.2813.13%6%10.71%0.66%0.06
HLIOHelios Technologies, Inc.2.08B62.9153.77-3.55%4.18%3.68%4.56%0.55
SPXCSPX Technologies, Inc.10.65B213.6149.7913.94%10.34%10.41%2.33%0.48
IRIngersoll Rand Inc.34.5B87.3242.395.22%7.31%5.35%3.62%0.49
FLSFlowserve Corporation9.74B76.6235.805.49%9.66%19.48%3.53%0.82
PHParker-Hannifin Corporation119.19B944.5834.83-0.4%18.18%26.41%2.8%0.69
GRCThe Gorman-Rupp Company1.39B52.8734.560.02%7.41%12.4%3.99%1.04
KAIKadant Inc.3.85B327.2834.529.99%10.33%11.29%3.48%0.38

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+4.56B3.99B3.66B3.83B3.94B3.73B3.54B3.62B4.32B4.56B
Revenue Growth %-0.06%-0.12%-0.08%0.05%0.03%-0.05%-0.05%0.02%0.2%0.05%
Cost of Goods Sold+3.01B2.69B2.53B2.59B2.63B2.56B2.47B2.62B3.02B3.09B
COGS % of Revenue0.66%0.68%0.69%0.68%0.67%0.69%0.7%0.72%0.7%0.68%
Gross Profit+1.55B1.3B1.13B1.24B1.31B1.16B1.07B994.65M1.3B1.47B
Gross Margin %0.34%0.33%0.31%0.32%0.33%0.31%0.3%0.28%0.3%0.32%
Gross Profit Growth %-0.09%-0.16%-0.13%0.09%0.06%-0.11%-0.08%-0.07%0.3%0.13%
Operating Expenses+932.3M872.67M880.17M928.4M872.67M804.95M781.43M801.27M894.04M950.4M
OpEx % of Revenue0.2%0.22%0.24%0.24%0.22%0.22%0.22%0.22%0.21%0.21%
Selling, General & Admin886.4M829.87M841.57M888.8M830.67M768.85M747.23M761.37M845.34M880.5M
SG&A % of Revenue0.19%0.21%0.23%0.23%0.21%0.21%0.21%0.21%0.2%0.19%
Research & Development45.9M42.8M38.6M39.6M42M36.1M34.2M39.9M48.7M69.9M
R&D % of Revenue0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.02%
Other Operating Expenses0000000000
Operating Income+619.88M425M252.73M309.84M433.91M359.11M285.14M193.38M403.8M515.42M
Operating Margin %0.14%0.11%0.07%0.08%0.11%0.1%0.08%0.05%0.09%0.11%
Operating Income Growth %-0.19%-0.31%-0.41%0.23%0.4%-0.17%-0.21%-0.32%1.09%0.28%
EBITDA+746.97M541.75M371.18M422.31M539.82M459.87M384.96M284.34M487.54M601.02M
EBITDA Margin %0.16%0.14%0.1%0.11%0.14%0.12%0.11%0.08%0.11%0.13%
EBITDA Growth %-0.15%-0.27%-0.31%0.14%0.28%-0.15%-0.16%-0.26%0.71%0.23%
D&A (Non-Cash Add-back)127.09M116.75M118.45M112.47M105.9M100.75M99.82M90.95M83.75M85.6M
EBIT477.64M273.05M322.74M234.43M377.41M258.48M191.21M200.62M290.67M455.46M
Net Interest Income+-63.2M-57.33M-56.3M-51.7M-46.57M-52.01M-54.85M-42.28M-59.93M-63.93M
Interest Income2.06M2.8M3.43M6.46M8.41M4.17M2.76M3.96M6.99M5.37M
Interest Expense65.27M60.14M59.73M58.16M54.98M56.19M57.62M46.25M66.92M69.3M
Other Income/Expense-207.51M-212.09M10.28M-133.56M-111.48M-156.82M-151.55M-39.01M-180.05M-129.27M
Pretax Income+412.37M212.91M263.01M176.27M322.43M202.29M133.59M154.38M223.75M386.15M
Pretax Margin %0.09%0.05%0.07%0.05%0.08%0.05%0.04%0.04%0.05%0.08%
Income Tax+148.92M75.29M258.68M51.22M80.07M61.42M-2.59M-43.64M18.56M84.93M
Effective Tax Rate %0.65%0.68%0.01%0.68%0.79%0.64%0.94%1.22%0.83%0.73%
Net Income+267.67M145.06M2.65M119.67M253.67M130.42M125.95M188.69M186.74M282.76M
Net Margin %0.06%0.04%0%0.03%0.06%0.03%0.04%0.05%0.04%0.06%
Net Income Growth %-0.48%-0.46%-0.98%44.12%1.12%-0.49%-0.03%0.5%-0.01%0.51%
Net Income (Continuing)264.02M135.53M4.33M125.05M246.94M140.88M136.18M198.01M205.19M301.23M
Discontinued Operations0000000000
Minority Interest17.26M20.96M16.37M18.46M25.6M30.33M33.03M33.61M38.95M44.05M
EPS (Diluted)+1.931.010.020.911.811.000.961.441.422.14
EPS Growth %-0.48%-0.48%-0.98%44.5%0.99%-0.45%-0.04%0.5%-0.01%0.51%
EPS (Basic)1.941.020.020.911.821.000.971.441.422.15
Diluted Shares Outstanding133.81M130.97M131.18M131.27M131.72M131.05M130.86M131.31M131.93M132.36M
Basic Shares Outstanding133.07M130.43M130.57M130.82M131.03M130.4M130.31M130.63M131.51M131.49M
Dividend Payout Ratio0.35%0.67%37.42%0.83%0.39%0.8%0.83%0.55%0.56%0.39%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+2.63B2.33B2.56B2.38B2.51B2.9B2.39B2.45B2.7B2.9B
Cash & Short-Term Investments366.44M367.16M703.45M619.68M670.98M1.1B658.45M434.97M545.68M675.44M
Cash Only366.44M367.16M703.45M619.68M670.98M1.1B658.45M434.97M545.68M675.44M
Short-Term Investments0000000000
Accounts Receivable985.77M882.64M856.71M1.02B1.07B1.03B934.81M1.1B1.16B1.28B
Days Sales Outstanding78.8980.7185.4297.2498.86100.9696.36111.2798.17102.16
Inventory995.57M919.25M884.27M633.87M660.84M667.23M678.29M803.2M879.94M837.25M
Days Inventory Outstanding120.58124.53127.6889.1891.694.98100.05111.88106.2598.84
Other Current Assets2.36M150.2M114.32M535K-1.38M000116.06M116.16M
Total Non-Current Assets+2.47B2.41B2.35B2.23B2.41B2.41B2.36B2.34B2.4B2.6B
Property, Plant & Equipment758.43M723.63M671.8M610.1M758.39M765M709.79M675.92M662.59M699.1M
Fixed Asset Turnover6.01x5.52x5.45x6.28x5.20x4.87x4.99x5.35x6.52x6.52x
Goodwill1.22B1.21B1.22B1.2B1.19B1.22B1.2B1.17B1.18B1.29B
Intangible Assets228.78M214.53M210.05M190.55M180.81M168.5M152.46M134.5M122.25M188.6M
Long-Term Investments00010.97M149.29M1.39M428K363K1.05M936K
Other Non-Current Assets224.33M183.13M199.72M179.2M103.76M220.04M257.88M211.46M218.47M199.64M
Total Assets+5.1B4.74B4.91B4.62B4.92B5.31B4.75B4.79B5.11B5.5B
Asset Turnover0.89x0.84x0.75x0.83x0.80x0.70x0.75x0.75x0.85x0.83x
Asset Growth %0.03%-0.07%0.04%-0.06%0.07%0.08%-0.11%0.01%0.07%0.08%
Total Current Liabilities+1.36B1.18B1.24B1.08B1.11B1.14B1.13B1.24B1.44B1.47B
Accounts Payable491.38M412.09M443.11M418.89M447.58M440.2M410.06M476.75M547.82M545.31M
Days Payables Outstanding59.5255.8363.9858.9362.0462.6660.4966.4166.1564.37
Short-Term Debt60.43M85.36M75.6M68.22M47.38M43.98M73.69M81.86M98.63M77.62M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities274.42M256.37M238.08M183.23M189.01M206.71M193.56M218.71M214.87M273M
Current Ratio1.94x1.98x2.06x2.20x2.25x2.54x2.11x1.97x1.88x1.98x
Quick Ratio1.20x1.20x1.35x1.62x1.66x1.96x1.51x1.33x1.27x1.41x
Cash Conversion Cycle139.95149.42149.12127.48128.42133.28135.92156.74138.28136.62
Total Non-Current Liabilities+2.06B1.9B2B1.87B1.99B2.41B1.78B1.69B1.7B1.98B
Long-Term Debt1.56B1.49B1.5B1.41B1.35B1.72B1.25B1.21B1.15B1.45B
Capital Lease Obligations0000163.31M176.25M178.09M167.59M151.9M163.32M
Deferred Tax Liabilities39.08M20.09M156.28M159.4M149.63M85.82M9.17M7.9M1.33M1.77M
Other Non-Current Liabilities348.7M387.75M340.68M298.92M379.71M430.92M342.43M300.57M386.24M368.61M
Total Liabilities3.42B3.07B3.24B2.96B3.1B3.55B2.91B2.93B3.13B3.45B
Total Debt+1.62B1.57B1.58B1.48B1.56B1.94B1.5B1.46B1.4B1.69B
Net Debt1.25B1.2B871.81M863.36M893.9M842.87M843.79M1.03B858.92M1.01B
Debt / Equity0.96x0.94x0.94x0.89x0.86x1.10x0.82x0.79x0.71x0.82x
Debt / EBITDA2.17x2.90x4.24x3.51x2.90x4.21x3.90x5.14x2.88x2.81x
Net Debt / EBITDA1.68x2.22x2.35x2.04x1.66x1.83x2.19x3.61x1.76x1.68x
Interest Coverage9.50x7.07x4.23x5.33x7.89x6.39x4.95x4.18x6.03x7.44x
Total Equity+1.68B1.67B1.67B1.66B1.82B1.76B1.84B1.86B1.98B2.05B
Equity Growth %-0.13%-0.01%0%-0.01%0.09%-0.03%0.04%0.01%0.06%0.04%
Book Value per Share12.5812.7412.7412.6513.7913.4514.0414.1514.9715.50
Total Shareholders' Equity1.67B1.65B1.65B1.64B1.79B1.73B1.8B1.82B1.94B2.01B
Common Stock220.99M220.99M220.99M220.99M220.99M220.99M220.99M220.99M220.99M220.99M
Retained Earnings3.59B3.63B3.5B3.54B3.7B3.66B3.69B3.77B3.85B4.03B
Treasury Stock-2.11B-2.08B-2.06B-2.05B-2.05B-2.06B-2.06B-2.04B-2.01B-2.01B
Accumulated OCI-529.81M-618.24M-499.12M-566.83M-575.96M-587.89M-556.38M-640.81M-631.66M-733.25M
Minority Interest17.26M20.96M16.37M18.46M25.6M30.33M33.03M33.61M38.95M44.05M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+440.76M240.48M311.07M190.83M324.1M310.54M250.12M-40.01M325.77M425.31M
Operating CF Margin %0.1%0.06%0.08%0.05%0.08%0.08%0.07%-0.01%0.08%0.09%
Operating CF Growth %-0.26%-0.45%0.29%-0.39%0.7%-0.04%-0.19%-1.16%9.14%0.31%
Net Income264.02M135.53M4.33M109.89M246.94M140.88M136.18M198.01M205.19M301.23M
Depreciation & Amortization127.09M116.75M118.45M112.47M105.9M100.75M99.82M90.95M83.75M85.6M
Stock-Based Compensation34.82M30.21M22.82M19.91M23.88M27.25M29.48M25.53M27.81M30.47M
Deferred Taxes0000000000
Other Non-Cash Items74.38M72.99M7.09M38.13M-11.72M5.48M75.95M-27.76M-17.33M37.15M
Working Capital Changes-59.54M-115.01M158.37M-89.57M-40.91M36.18M-91.31M-326.75M26.36M-29.14M
Change in Receivables53.06M36.93M60.22M-49.86M-42.34M49.91M65.66M-193.78M-36.41M-100.7M
Change in Inventory-26.23M30.88M48.64M-29.31M-31.06M15.31M-32.12M-147.49M-59.83M38.87M
Change in Payables-113.64M-71.01M12.4M7.59M24.68M-22.57M-19.5M78.97M53.06M-12.34M
Cash from Investing+-525.29M-91.47M176.6M-81.47M-33.38M-41.7M-59.48M-6.09M-68.58M-387.21M
Capital Expenditures-181.86M-89.7M-61.6M-83.99M-75.72M-57.41M-54.94M-76.29M-67.36M-81.02M
CapEx % of Revenue0.04%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing10.22M3.29M5.43M6.19M42.33M15.71M2.66M4.42M2.06M2.24M
Cash from Financing+37.66M-143.72M-185.35M-173.28M-231.46M147.59M-599.71M-150.01M-153.01M117.5M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-93.65M-97.75M-99.23M-99.42M-99.56M-104.16M-104.6M-104.55M-104.95M-110.44M
Share Repurchases----------
Other Financing-46.38M14.03M-26.12M-13.87M-11.91M-23.16M-24.8M-12.96M-8.06M-22.62M
Net Change in Cash----------
Free Cash Flow+258.9M150.78M249.46M106.84M248.38M253.13M195.18M-116.3M258.41M344.29M
FCF Margin %0.06%0.04%0.07%0.03%0.06%0.07%0.06%-0.03%0.06%0.08%
FCF Growth %-0.44%-0.42%0.65%-0.57%1.32%0.02%-0.23%-1.6%3.22%0.33%
FCF per Share1.931.151.900.811.891.931.49-0.891.962.60
FCF Conversion (FCF/Net Income)1.65x1.66x117.29x1.59x1.28x2.38x1.99x-0.21x1.74x1.50x
Interest Paid57.03M57.39M56.81M54.58M53.61M57.04M72.25M41.63M64.86M66.81M
Taxes Paid152.54M151.19M59.41M87.01M66.37M75.34M65.62M60.09M119.28M81.17M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)14.77%8.65%0.16%7.18%14.59%7.29%7%10.21%9.74%14.04%
Return on Invested Capital (ROIC)16.65%10.97%7%9.17%12.44%10.13%8.09%5.21%10.59%13.11%
Gross Margin34.03%32.51%30.95%32.31%33.12%31.22%30.12%27.51%30.04%32.16%
Net Margin5.87%3.63%0.07%3.12%6.43%3.5%3.56%5.22%4.32%6.2%
Debt / Equity0.96x0.94x0.94x0.89x0.86x1.10x0.82x0.79x0.71x0.82x
Interest Coverage9.50x7.07x4.23x5.33x7.89x6.39x4.95x4.18x6.03x7.44x
FCF Conversion1.65x1.66x117.29x1.59x1.28x2.38x1.99x-0.21x1.74x1.50x
Revenue Growth-6.5%-12.49%-8.28%4.69%2.93%-5.49%-5.02%2.09%19.51%5.49%

Revenue by Segment

2015201620172018201920202021202220232024
Aftermarket Equipment---1.9B1.98B1.83B1.84B1.91B2.23B2.34B
Aftermarket Equipment Growth----4.28%-7.59%0.50%3.91%17.05%4.74%
Original Equipment---1.94B1.97B1.9B1.7B1.71B2.09B2.22B
Original Equipment Growth----1.61%-3.39%-10.33%0.14%22.27%6.29%
Intersegment Eliminations-96.36M-74.26M-77.92M-------
Intersegment Eliminations Growth-22.93%-4.92%-------

Revenue by Geography

2015201620172018201920202021202220232024
North America---1.58B1.63B1.47B1.35B1.53B1.82B1.84B
North America Growth----3.27%-9.86%-8.43%13.96%18.79%1.18%
Europe---763.54M810.03M763.39M719.5M668.08M772.34M833.66M
Europe Growth----6.09%-5.76%-5.75%-7.15%15.61%7.94%
Asia Pacific562.79M500.42M471.05M539.9M819.17M808.03M816.11M694.56M739.51M789.61M
Asia Pacific Growth--11.08%-5.87%14.61%51.73%-1.36%1.00%-14.89%6.47%6.77%
Middle East And Africa---467.72M454.9M469.94M418.69M473.17M684.59M765.84M
Middle East And Africa Growth-----2.74%3.31%-10.91%13.01%44.68%11.87%
Latin America---241.78M231.15M217.91M241.7M246.45M303.25M326.32M
Latin America Growth-----4.40%-5.73%10.92%1.96%23.05%7.61%
UNITED STATES1.79B1.62B1.46B-------
UNITED STATES Growth--9.78%-9.55%-------
EMEA1.77B1.54B1.43B-------
EMEA Growth--12.92%-7.10%-------
Other Geographic Area434.84M331.85M294.37M-------
Other Geographic Area Growth--23.68%-11.29%-------

Frequently Asked Questions

Valuation & Price

Flowserve Corporation (FLS) has a price-to-earnings (P/E) ratio of 35.8x. This suggests investors expect higher future growth.

Growth & Financials

Flowserve Corporation (FLS) reported $4.69B in revenue for fiscal year 2024. This represents a 4% increase from $4.51B in 2011.

Flowserve Corporation (FLS) grew revenue by 5.5% over the past year. This is steady growth.

Yes, Flowserve Corporation (FLS) is profitable, generating $452.8M in net income for fiscal year 2024 (6.2% net margin).

Dividend & Returns

Yes, Flowserve Corporation (FLS) pays a dividend with a yield of 1.09%. This makes it attractive for income-focused investors.

Flowserve Corporation (FLS) has a return on equity (ROE) of 14.0%. This is reasonable for most industries.

Flowserve Corporation (FLS) generated $629.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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