Xylem

Xylem makes pumps, treatment equipment, meters, sensors and software for water and wastewater, and it provides water services. It has four segments: Water Infrastructure, Applied Water, Measurement and Control Solutions, and Water Solutions and Services. From January 1, 2027, it will have three: Treatment and Services, Flow Solutions, and Measurement and Analytics. Its customers are utilities, industrial companies and commercial buildings.

Revenue was $9 billion in 2025, and it has about 22,000 employees. Its headquarters are in Washington, D.C. Matthew Pine is CEO.

The market prices Xylem for revenue that does not grow. Organic revenue was flat in Q3 2026, and Xylem now expects flat organic revenue for 2026, down from its earlier outlook of 2% to 3% growth. It cut its 2026 adjusted EPS guidance to $5.40 to $5.45 from $5.55 to $5.70. Xylem said that customers spend with more caution and that project timing moved revenue.

Margins still rise: adjusted EBITDA margin was 23.9% in Q3 2026, and Xylem expects about 23.2% for 2026. The company is also changing its portfolio fast. It bought TriOS and WaterFleet, agreed to buy the Cornell Pump and Roper Pump businesses for about $1.46 billion, and plans to sell Applied Water International and Specialty Flow Control. It bought back $1.58 billion of shares in the first nine months of 2026 and issued $2.5 billion of new notes in 2026.

For the gap to close, three things must be true. Orders, which rose 10% organically in Q3 2026, must turn into organic revenue growth in 2027. Adjusted EBITDA margin must keep rising. The pump purchase and the two sales must add to adjusted EPS.

The Q4 2026 report and the 2027 guidance, expected in early 2027, give the next test. If these checks pass, the gap can close over the next four to six quarters. The main reason it may not close is weak spending by utilities and industrial customers, which would keep revenue flat.

1. Oct 27, 2026Failed

   Q3 2026 earnings: orders and marginsOrganic revenue growth in line with the 2% to 3% outlook, adjusted EPS guidance kept or raised and orders above revenue pass; a lower outlook or weak orders fail.Outcome: Orders rose 10% organically, but organic revenue was flat and Xylem cut its 2026 revenue outlook and adjusted EPS guidance.
2. Q4 2026 · est.Due this quarter

   Cornell Pump and Roper Pump purchase closesA close in Q4 2026 at about $1.46 billion passes; a delay past August 10, 2027 or an end of the deal fails.
3. Jan 27, 2027 · est.Pending

   Q4 2026 earnings and 2027 guidance2027 guidance for faster organic revenue growth than in 2026 and higher margins passes; flat growth guidance fails.

Every passed and failed checkpoint across all picks

• October 27, 2026Xylem reported Q3 2026 results. Orders rose 7% to $2.3 billion, or 10% organically. Revenue fell 3% to $2.2 billion and was flat organically. EPS rose 34% to $1.25, and adjusted EPS rose 5% to $1.44. Adjusted EBITDA margin rose 70 basis points to 23.9%. Xylem cut its 2026 revenue outlook to about $8.95 billion, flat organically, and its adjusted EPS guidance to $5.40 to $5.45 from $5.55 to $5.70.
• October 27, 2026Xylem announced that it plans to sell its Applied Water International and Specialty Flow Control businesses. From January 1, 2027, it will have three segments instead of four. Hayati Yarkadas, the head of Water Infrastructure, stops being an executive officer on that date and leads the planned sales.
• September 29, 2026Xylem completed the sale of $500 million of 5.250% senior notes due 2029, $500 million of 5.450% senior notes due 2032 and $500 million of 5.850% senior notes due 2037.

Last earnings

October 27, 2026 (8-K on sec.gov)

Next earnings

Expected about January 27, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 27, 2026 · xyl-20260930
• 8-KEarnings release and Change of directors or officersFiled October 27, 2026 · Press release and exhibits
• 8-KOther company newsFiled September 29, 2026 · xyl-20260929
• 8-KNew material agreement and End of a material agreementFiled September 9, 2026 · xyl-20260908
• 8-KChange of directors or officers and Investor disclosureFiled August 18, 2026 · xyl-20260813
• 8-KChange of directors or officersFiled August 13, 2026 · xyl-20260813
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 28, 2026 · xyl-20260630
• 8-KEarnings releaseFiled July 28, 2026 · Press release and exhibits
• 8-KNew material agreement and New debt or financial obligationFiled May 29, 2026 · Read it on sec.gov
• 8-KShareholder vote resultsFiled May 18, 2026 · xyl-20260514

Every filing on SEC EDGAR (CIK 1524472)

• Revenue does not grow: organic revenue was flat in Q3 2026, and Xylem expects flat organic revenue for 2026. Utility budgets and industrial spending can delay projects.
• Xylem bought back $1.58 billion of shares in the first nine months of 2026 and issued $2.5 billion of notes in 2026. It also agreed to pay about $1.46 billion for the Cornell Pump and Roper Pump businesses. More debt increases interest costs and reduces the room for more acquisitions.
• Tariffs, inflation and supply problems can increase costs. If price increases do not cover them, margins fall.
• Xylem changed its CFO in September 2026, moves to three segments in January 2027 and plans to buy and sell several businesses. Integration problems or low sale prices can reduce the expected benefits.

Xylem funds its business with senior notes, commercial paper and a revolving credit facility. At September 30, 2026, total debt was $2.90 billion, including $530 million due within 12 months, and cash was $708 million. Read more

Yield at the current rate

1.8% (current annual rate, at today’s price)

Dividend yield

1.8% (last 12 months, at today’s price of $95.11)

Paid per share

$1.69 in the last 12 months (4 payments)

Current annual rate

$1.72 ($0.43 × 4 a year)

Payout ratio

41% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

August 27, 2026, $0.43 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 9.0% a year. From 2015 to 2025, the dividend grew by about 11.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.