One-glance verdict
Undervalued
$80.65 our estimate vs market $65.44
Wall Street consensus: $76.64 (-5.0% lower than our fair-value estimate)
19% below our estimate, below the bear case
Fundamentals snapshot
Pentair plc
PNR · NYQ · Industrials · Specialty Industrial Machinery
Current price
$65.44
52-week range
$57.60 - $113.95
Market cap
$10.44B
Balance sheet
Watch
13.41x Strong cushion
Net debt $1.67B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 0.6% last year.
- Reward Returns 17.1% on equity, ahead of 50% of its peers.
- Reward Free cash flow was positive in 10/10 years.
What this company does
Pentair plc
Pentair is a water company that makes most of its money selling equipment for swimming pools and spas, like pumps, filters, and heaters. It also provides water treatment systems, such as filters and softeners, for both homes and businesses. Because this equipment wears out and needs to be replaced over time, the company can often rely on a steady stream of sales beyond just the construction of new pools or buildings.
How the company got here
Pentair started in 1966, but not as the water-focused company it is today; its first product was high-altitude balloons. Over many years, it bought and sold different types of businesses, including paper mills and power tools, learning how to run industrial companies efficiently. A major turning point was the 2004 acquisition of WICOR Industries, which significantly expanded its water-related businesses. To sharpen its focus purely on water, the company sold its tool business and, in 2018, separated its electrical business into a new company called nVent, leaving Pentair dedicated to water solutions.
What it actually does
Pentair makes the essential, often unseen, equipment that moves, treats, and helps people enjoy water. Think of it as selling the hardware that contractors, builders, and service professionals rely on for water to flow safely and cleanly. Its products range from pumps that bring water to a house or farm, to filters that purify drinking water in homes and restaurants, to the complete circulation systems that keep swimming pools clean. You wouldn't typically buy Pentair products at a big-box store; instead, they are sold through professional distributors and dealers.
Pool
This is Pentair's best-known and most profitable business, making up a very large part of its sales. It creates the equipment that keeps residential and commercial swimming pools running, such as pumps, filters, heaters, and automated cleaning systems. Pool professionals and service companies are the main customers, buying this equipment for new pool construction as well as for repairs and upgrades on existing pools. Because pools require constant maintenance and equipment eventually wears out, a large portion of this segment's revenue comes from these replacement and upgrade sales, which is known as the aftermarket.
Water Solutions
This segment focuses on improving the quality of water for homes and businesses. It sells things like under-the-sink water filters, whole-house water softeners that prevent mineral buildup, and commercial-grade ice machines for restaurants and hotels. The customers are both homeowners who want better-tasting or cleaner water and foodservice businesses that need high-quality water for their operations. This business has been growing as more people become focused on water quality and sustainability.
Flow
This part of the company makes products that move large amounts of water for industrial, agricultural, and municipal (city-level) uses. This includes powerful pumps for farming irrigation, systems for treating wastewater, and components for fire suppression systems in large commercial buildings. The customers are typically large-scale operators like farms, factories, and city water departments who need reliable, heavy-duty equipment. While not as large as the Pool segment, it provides a steady business that is tied to broad infrastructure and industrial needs.
What management is betting on now
Management is focused on developing "smart" and sustainable water solutions, like energy-efficient pool pumps that save homeowners money. They are also pushing to grow their Water Solutions business by meeting rising consumer demand for cleaner, safer water at home and in commercial settings. The company is also concentrating on improving its margins (the profit made on each dollar of sales) by making its operations more efficient. Finally, they aim to provide steady returns to investors through dividends (a portion of profits paid out to shareholders) and share buybacks (when the company buys its own stock to make the remaining shares more valuable).
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$522.20M
FY2024 Q3
$233.20M
FY2024 Q4
$63.80M
FY2025 Q1
$-55.70M
FY2025 Q2
$595.70M
FY2025 Q3
$178.90M
FY2025 Q4
$27.10M
FY2026 Q1
$-85.90M
Revenue
$1.04B
Net income
$172.40M
Diluted EPS
1.05
Operating cash flow
$-67.40M
Free cash flow
$-85.90M
Fetching…
Sources
Revenue
$1.02B
Net income
$166.10M
Diluted EPS
1.01
Operating cash flow
$50.80M
Free cash flow
$27.10M
Fetching…
Sources
Revenue
$1.02B
Net income
$184.30M
Diluted EPS
1.12
Operating cash flow
$196.30M
Free cash flow
$178.90M
Fetching…
Sources
Revenue
$1.12B
Net income
$148.50M
Diluted EPS
0.90
Operating cash flow
$606.60M
Free cash flow
$595.70M
Fetching…
Sources
Revenue
$1.01B
Net income
$154.90M
Diluted EPS
0.93
Operating cash flow
$-38.90M
Free cash flow
$-55.70M
Fetching…
Sources
Revenue
$972.90M
Net income
$166.40M
Diluted EPS
0.99
Operating cash flow
$86.50M
Free cash flow
$63.80M
Fetching…
Sources
Revenue
$993.40M
Net income
$139.60M
Diluted EPS
0.84
Operating cash flow
$248.60M
Free cash flow
$233.20M
Fetching…
Sources
Revenue
$1.10B
Net income
$186.10M
Diluted EPS
1.11
Operating cash flow
$539.20M
Free cash flow
$522.20M
Fetching…
Sources
Is it cheap or expensive?
Fair value $80.65 vs current price $65.44
Wall Street consensus is the average analyst price target: $76.64 (-5.0% lower than our fair-value estimate).
Our most-likely fair value is $80.65 a share — about 23.3% above today's price of $65.44, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Watch
Net debt $1.7B. Interest coverage 13.4x.
Net debt
$1.67B
Interest coverage
13.41x
Pentair plc's profit covers its interest bill about 13.4 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
PNR
BASELINE
Pentair plc
Total debt $1.76B Interest coverage 13.41x This is the baseline the peer rows are being compared against.
Total debt $3.06B Interest coverage 45.72x +241% vs PNR Carries about 3.4x more debt cushion than PNR.
Total debt $1.89B Interest coverage 11.18x -17% vs PNR Carries about 1.2x less debt cushion than PNR.
Total debt $305.00M Interest coverage 43.69x +226% vs PNR Carries about 3.3x more debt cushion than PNR.
Total debt $52.21M Interest coverage 211.11x +1,474% vs PNR Carries about 15.7x more debt cushion than PNR.
Total debt $2.32B Interest coverage 6.68x -50% vs PNR Carries about 2.0x less debt cushion than PNR.
What you should know
The case for and against PNR
3 Rewards
0 Risks
Rewards
-
Revenue grew 0.6% last year.
-
Returns 17.1% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
16.87x
Forward P/E
12.63x
P/B
2.78x
P/S
2.60x
EV/EBITDA
11.71x
PEG ratio
1.16x
Profitability
How much profit each dollar creates
Gross margin
41.4%
Operating margin
23.4%
Net margin
16.2%
ROE
17.1%
ROA
8.7%
Health
Liquidity and balance-sheet strength
Debt / equity
0.47x
Current ratio
1.45x
Quick ratio
0.66x
Total debt
$1.76B
Total cash
$91.80M
Growth
How the business has been compounding
Revenue TTM
$4.20B
Revenue 5Y CAGR
2.6%
EPS TTM
3.88
EPS 5Y CAGR
10.9%
Cash flow
How much cash the business throws off
Operating CF TTM
$786.30M
Free CF TTM
$746.00M
FCF margin
17.8%
Dividend
Shareholder payout
Yield
1.6%
Payout ratio
26.8%
Last ex-div date
2026-07-24