Select Water Solutions (WTTR) Financials

$20.03 +0.47 (+2.39%)

Closing price 05/19/2026 03:59 PM Eastern

Extended Trading

$20.08 +0.06 (+0.28%)

As of 07:58 AM Eastern

Annual Income Statements for Select Water Solutions

This table shows Select Water Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	0.00	-1.04	-17	37	2.78	-339	-42	48	74	31	21
Consolidated Net Income / (Loss)	-82	-314	-35	54	4.14	-402	-50	55	79	35	21
Net Income / (Loss) Continuing Operations	-82	-314	1,350	54	4.14	-402	-50	55	79	35	21
Total Pre-Tax Income	-82	-314	-36	56	6.09	-403	-50	57	21	49	25
Total Operating Income	-69	-299	-30	62	23	-395	-66	39	61	54	29
Total Gross Profit	12	-44	58	198	149	-29	21	161	232	219	202
Total Revenue	536	302	2,077	1,529	1,292	605	765	1,387	1,585	1,452	1,407
Operating Revenue	536	302	692	1,529	1,292	605	765	1,387	1,585	1,452	1,407
Total Cost of Revenue	523	347	635	1,330	1,143	634	744	1,227	1,354	1,233	1,205
Operating Cost of Revenue	523	347	635	1,330	1,143	634	744	1,227	1,354	1,233	1,205
Total Operating Expenses	81	255	88	137	126	366	86	122	170	165	174
Selling, General & Admin Expense	57	35	82	103	112	74	83	119	156	160	161
Depreciation Expense	3.10	2.09	1.80	3.18	3.86	2.87	2.43	2.21	2.28	3.40	5.32
Other Operating Expenses / (Income)	-	19	3.57	3.93	2.07	4.35	0.89	0.45	0.04	0.36	0.73
Impairment Charge	21	199	-	27	8.11	284	0.00	0.00	13	1.24	6.22
Total Other Income / (Expense), net	-13	-15	-5.98	-5.67	-17	-8.43	16	18	-40	-5.12	-4.06
Interest Expense	14	16	6.63	5.31	2.69	2.14	1.71	2.70	4.39	6.97	23
Other Income / (Expense), net	0.89	0.63	0.65	-0.36	-14	-6.30	18	20	-36	1.85	19
Income Tax Expense	0.32	-0.52	-0.85	1.70	1.95	-1.48	0.15	0.96	-60	14	-1.61
Other Gains / (Losses), net	-	-	-	-	0.00	0.00	-0.28	-0.91	-1.80	-0.35	-4.89
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-18	18	1.35	-63	-7.86	6.58	4.82	4.81	0.24
Basic Earnings per Share	-	-	($0.51)	$0.98	$0.03	($3.98)	($0.48)	$0.51	$0.73	$0.31	$0.21
Weighted Average Basic Shares Outstanding	-	-	33M	243.40M	103.28M	102.66M	108.12M	125.61M	118.16M	119.29M	121.36M
Diluted Earnings per Share	-	-	($0.51)	$0.98	$0.03	($3.98)	($0.48)	$0.50	$0.72	$0.30	$0.21
Weighted Average Diluted Shares Outstanding	-	-	33M	243.40M	103.28M	102.66M	108.12M	125.61M	118.16M	119.29M	121.36M
Weighted Average Basic & Diluted Shares Outstanding	-	-	33M	243.40M	103.28M	102.66M	108.12M	125.61M	118.16M	119.29M	121.36M

This table shows Select Water Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	14	28	3.63	13	16	-1.64	8.24	11	2.68	-0.35	8.61
Consolidated Net Income / (Loss)	15	28	3.88	15	19	-2.13	9.56	12	2.29	-2.06	9.43
Net Income / (Loss) Continuing Operations	15	28	3.88	15	19	-2.13	9.56	12	2.29	-2.06	9.43
Total Pre-Tax Income	17	-34	5.78	19	24	0.68	12	16	7.51	-11	12
Total Operating Income	17	6.71	7.01	20	25	2.61	16	15	-1.77	-0.39	18
Total Gross Profit	56	55	53	60	62	44	56	58	44	45	65
Total Revenue	389	375	367	365	371	349	374	364	322	347	366
Operating Revenue	389	375	367	365	371	349	374	364	322	347	366
Total Cost of Revenue	333	320	314	305	309	305	319	306	279	301	301
Operating Cost of Revenue	333	320	314	305	309	305	319	306	279	301	301
Total Operating Expenses	40	48	46	40	38	42	40	42	45	46	47
Selling, General & Admin Expense	39	46	44	39	37	40	37	39	42	43	41
Depreciation Expense	0.51	0.43	1.26	0.75	0.66	0.74	0.93	1.92	1.31	1.17	1.12
Other Operating Expenses / (Income)	-0.01	-0.03	0.39	0.02	0.01	-0.05	0.72	-0.00	0.06	-0.05	-0.07
Impairment Charge	0.03	1.05	0.05	0.05	0.00	1.15	1.15	1.48	2.28	1.32	5.71
Total Other Income / (Expense), net	0.03	-40	-1.23	-1.60	-0.36	-1.93	-3.18	0.95	9.28	-11	-5.81
Interest Expense	0.77	0.10	1.27	2.03	1.91	1.76	4.88	5.65	5.96	6.70	5.91
Other Income / (Expense), net	0.79	-40	0.04	0.42	1.55	-0.17	1.69	6.60	15	-4.41	0.09
Income Tax Expense	0.48	-61	1.45	3.96	5.85	2.31	2.89	4.52	0.43	-9.46	2.43
Other Gains / (Losses), net	-0.98	-0.08	-0.45	0.10	0.51	-0.51	0.10	-0.18	-4.78	-0.02	-0.29
Net Income / (Loss) Attributable to Noncontrolling Interest	0.97	0.04	0.25	2.03	3.02	-0.49	1.32	1.02	-0.39	-1.71	0.83
Basic Earnings per Share	$0.14	$0.27	$0.04	$0.13	$0.16	($0.02)	$0.08	$0.10	$0.03	-	$0.08
Weighted Average Basic Shares Outstanding	120.14M	118.16M	118.92M	119.02M	119.31M	119.29M	120.22M	121.27M	121.13M	121.36M	138.14M
Diluted Earnings per Share	$0.14	$0.26	$0.04	$0.13	$0.15	($0.02)	$0.08	$0.10	$0.03	-	$0.08
Weighted Average Diluted Shares Outstanding	120.14M	118.16M	118.92M	119.02M	119.31M	119.29M	120.22M	121.27M	121.13M	121.36M	138.14M
Weighted Average Basic & Diluted Shares Outstanding	120.14M	118.16M	118.92M	119.02M	119.31M	119.29M	120.22M	121.27M	121.13M	121.36M	138.14M

This table details how cash moves in and out of Select Water Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	6.02	24	-37	14	62	90	-83	-78	50	-37	-1.89
Net Cash From Operating Activities	152	5.13	-2.90	232	204	106	-16	33	285	235	215
Net Cash From Continuing Operating Activities	152	5.10	-2.90	232	204	106	-16	33	285	235	215
Net Income / (Loss) Continuing Operations	-82	-314	-35	54	4.14	-402	-50	55	79	35	21
Consolidated Net Income / (Loss)	-82	-314	-35	54	4.14	-402	-50	55	79	35	21
Depreciation Expense	108	97	103	134	121	102	92	116	141	157	180
Amortization Expense	0.58	3.40	4.03	0.69	0.69	0.69	0.69	0.66	0.49	0.49	2.23
Non-Cash Adjustments To Reconcile Net Income	25	201	5.30	36	38	298	-5.03	2.23	78	25	12
Changes in Operating Assets and Liabilities, net	100	17	-81	7.94	40	107	-54	-140	-13	17	-0.63
Net Cash From Investing Activities	-39	-27	-157	-168	-77	-5.39	-64	-53	-137	-319	-405
Net Cash From Continuing Investing Activities	-39	-27	-157	-168	-77	-5.39	-64	-53	-137	-319	-405
Purchase of Property, Plant & Equipment	-54	-36	-99	-165	-110	-21	-40	-72	-136	-173	-295
Acquisitions	-	-	-65	-17	-10	0.00	-37	-15	-18	-161	-126
Sale of Property, Plant & Equipment	14	9.34	7.48	14	17	18	13	31	17	16	15
Net Cash From Financing Activities	-107	46	122	-49	-65	-11	-2.54	-58	-98	47	188
Net Cash From Continuing Financing Activities	-107	46	122	-49	-65	-11	-2.54	-58	-98	47	188
Repayment of Debt	-108	-302	-114	-90	-50	0.00	0.00	-151	-121	-80	-154
Repurchase of Common Equity	-	-	-12	-17	-19	-11	-1.21	-20	-62	-7.91	-7.29
Payment of Dividends	-4.16	-0.21	-0.37	-0.51	-0.35	0.35	-1.07	-7.96	-27	-30	-34
Issuance of Debt	5.00	28	109	60	5.00	0.00	0.00	143	105	165	382
Issuance of Common Equity	-	297	140	0.76	0.14	0.08	0.06	0.05	5.95	0.05	2.88
Other Financing Activities, net	-	24	-	-2.99	-0.88	-0.26	-0.32	-22	-0.10	-0.75	-0.68
Effect of Exchange Rate Changes	0.08	-	-0.03	-0.29	0.13	0.06	0.01	-0.01	-0.00	-0.01	0.01
Cash Interest Paid	11	13	2.00	5.24	2.72	1.84	1.49	1.97	4.71	7.14	19
Cash Income Taxes Paid	2.26	-0.19	-0.05	-0.55	1.79	-0.17	-0.89	-0.45	1.65	1.82	0.64

This table details how cash moves in and out of Select Water Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	14	32	-44	3.66	-5.48	9.04	7.91	23	-33	0.26	38
Net Cash From Operating Activities	118	83	32	83	52	68	-5.06	83	72	65	10
Net Cash From Continuing Operating Activities	118	83	32	83	52	68	-5.06	83	72	65	10
Net Income / (Loss) Continuing Operations	15	28	3.88	15	19	-2.13	9.56	12	2.29	-2.06	9.43
Consolidated Net Income / (Loss)	15	28	3.88	15	19	-2.13	9.56	12	2.29	-2.06	9.43
Depreciation Expense	35	36	38	38	40	41	40	43	45	52	47
Amortization Expense	0.12	0.12	0.12	0.12	0.12	0.12	1.00	0.41	0.41	0.41	0.41
Non-Cash Adjustments To Reconcile Net Income	7.27	49	7.09	6.10	3.10	8.66	3.64	-0.88	-3.13	12	12
Changes in Operating Assets and Liabilities, net	60	-30	-17	24	-9.72	20	-59	28	27	2.59	-59
Net Cash From Investing Activities	-34	-32	-137	-87	-40	-54	-133	-75	-126	-71	-78
Net Cash From Continuing Investing Activities	-34	-32	-137	-87	-40	-54	-133	-75	-126	-71	-78
Purchase of Property, Plant & Equipment	-35	-33	-34	-49	-35	-55	-48	-79	-95	-71	-78
Acquisitions	-	-4.28	-108	-41	-8.65	-2.84	-86	-3.23	-35	-1.25	-0.21
Sale of Property, Plant & Equipment	1.58	5.51	5.17	3.38	3.73	3.53	1.94	7.66	4.15	1.49	1.06
Net Cash From Financing Activities	-70	-19	60	7.76	-17	-4.34	145	16	21	6.06	105
Net Cash From Continuing Financing Activities	-70	-19	60	7.76	-17	-4.34	145	16	21	6.06	105
Repayment of Debt	-65	-	-15	-38	-18	-10	-132	-0.52	-10	-12	-114
Repurchase of Common Equity	-0.28	-12	-7.00	-0.16	-0.17	-0.59	-6.29	-0.29	-0.33	-0.38	-7.62
Payment of Dividends	-4.82	-7.02	-7.49	-7.03	-7.01	-8.21	-8.57	-11	-8.38	-8.41	-8.75
Issuance of Debt	-	-	90	53	7.50	15	290	25	40	27	44
Issuance of Common Equity	-	-	-	-	-	-	2.88	-	-	-	192
Other Financing Activities, net	-0.05	-0.04	-0.07	-0.05	-0.05	-0.59	-0.17	-0.22	-0.13	-0.16	-0.16
Effect of Exchange Rate Changes	-0.00	0.00	-0.00	-0.00	0.00	-0.01	-0.00	0.01	-0.00	0.00	-0.00
Cash Interest Paid	1.22	0.34	0.95	2.20	2.08	1.91	4.72	5.43	2.33	6.26	6.47
Cash Income Taxes Paid	0.29	-0.11	-0.03	1.48	0.01	0.37	0.01	1.34	-	-0.71	-0.02

This table presents Select Water Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	405	1,356	1,361	1,348	875	950	1,223	1,218	1,366	1,596
Total Current Assets	125	447	432	416	352	395	518	454	385	354
Cash & Equivalents	40	2.77	17	79	169	86	7.32	57	20	18
Accounts Receivable	76	381	343	272	129	233	435	323	282	264
Inventories, net	1.00	45	45	38	33	44	41	39	38	34
Prepaid Expenses	7.59	18	27	26	20	31	34	36	45	38
Plant, Property, & Equipment, net	249	474	503	453	350	392	500	518	726	912
Plant, Property & Equipment, gross	739	1,035	1,114	1,016	879	944	1,084	1,145	1,405	1,629
Accumulated Depreciation	491	561	612	563	529	552	584	627	680	717
Total Noncurrent Assets	32	436	426	479	173	164	205	247	255	329
Long-Term Investments	-	-	-	-	-	-	-	-	11	78
Goodwill	12	273	274	267	-	-	0.00	4.68	18	48
Intangible Assets	12	156	148	137	116	108	139	116	124	106
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	0.00	62	46	49
Other Noncurrent Operating Assets	7.72	6.26	3.43	75	57	55	67	64	56	47
Total Liabilities & Shareholders' Equity	405	1,356	1,361	1,348	875	950	1,223	1,218	1,366	1,596
Total Liabilities	70	293	250	235	169	255	339	326	451	669
Total Current Liabilities	46	185	180	152	89	162	231	212	233	226
Short-Term Debt	-	1.97	-	0.13	0.31	0.11	-	0.19	0.00	32
Accounts Payable	11	55	59	38	14	38	65	47	44	53
Accrued Expenses	32	94	92	72	43	85	117	119	141	106
Current Employee Benefit Liabilities	2.51	21	22	20	16	22	29	28	30	18
Other Taxes Payable	0.07	13	5.82	2.12	1.42	2.71	3.06	1.40	2.11	2.44
Other Current Liabilities	-	-	0.94	19	14	14	18	15	17	14
Total Noncurrent Liabilities	24	108	70	83	81	93	108	114	217	443
Long-Term Debt	-	75	45	-	-	0.00	16	0.00	85	285
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	0.00	38	38	43
Other Noncurrent Operating Liabilities	8.03	14	25	83	81	93	92	77	94	114
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	335	1,063	1,111	1,113	706	695	884	892	916	927
Total Preferred & Common Equity	113	657	833	937	593	592	766	772	794	806
Preferred Stock	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	112	656	833	937	593	592	766	772	794	806
Common Stock	113	673	815	916	910	952	1,077	1,009	1,000	991
Retained Earnings	-1.04	-18	19	21	-317	-359	-311	-237	-206	-185
Noncontrolling Interest	222	407	278	176	113	103	118	120	122	121

This table presents Select Water Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,072	1,285	1,227	1,182	1,291	1,323	1,347	1,545	1,546	1,588	1,707
Total Current Assets	480	580	521	470	412	384	397	458	439	380	444
Cash & Equivalents	13	6.03	11	25	13	16	11	28	51	18	56
Accounts Receivable	389	493	431	356	323	295	299	338	309	277	318
Inventories, net	40	41	43	45	38	38	36	41	42	38	37
Prepaid Expenses	37	40	36	44	38	35	51	51	37	47	33
Plant, Property, & Equipment, net	427	515	511	523	591	649	674	767	800	887	936
Plant, Property & Equipment, gross	1,018	1,113	1,121	1,152	1,242	1,312	1,364	1,472	1,467	1,581	1,673
Accumulated Depreciation	591	598	609	628	651	663	690	704	673	694	737
Total Noncurrent Assets	165	190	195	189	288	290	276	320	307	321	326
Long-Term Investments	-	-	-	-	-	-	-	84	83	78	78
Goodwill	-	-	4.68	4.68	31	37	30	18	18	45	48
Intangible Assets	100	126	126	121	128	127	128	119	115	111	102
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	60	55	49	44	39	39	48
Other Noncurrent Operating Assets	65	65	65	63	69	72	69	55	51	48	50
Total Liabilities & Shareholders' Equity	1,072	1,285	1,227	1,182	1,291	1,323	1,347	1,545	1,546	1,588	1,707
Total Liabilities	303	402	363	303	403	421	427	628	623	656	587
Total Current Liabilities	210	237	208	221	212	213	223	250	219	231	232
Short-Term Debt	0.02	0.02	0.02	0.09	0.20	0.20	0.21	0.49	0.64	16	48
Accounts Payable	60	82	50	58	59	40	47	51	53	59	59
Accrued Expenses	108	119	113	124	116	128	134	165	123	118	92
Current Employee Benefit Liabilities	22	15	25	21	18	24	21	15	25	21	16
Other Taxes Payable	2.86	4.04	3.66	3.07	2.97	2.49	2.67	2.14	2.05	3.79	3.14
Other Current Liabilities	17	17	16	15	16	17	17	16	15	13	14
Total Noncurrent Liabilities	93	165	155	83	191	208	205	378	404	425	356
Long-Term Debt	-	76	65	0.00	75	90	80	246	271	285	200
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	38	38	38	38	38	38	43
Other Noncurrent Operating Liabilities	93	89	90	83	78	81	87	94	95	101	113
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	769	883	864	879	888	902	919	917	923	932	1,120
Total Preferred & Common Equity	659	766	746	759	770	782	796	793	799	808	991
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	659	766	746	759	770	782	796	793	799	808	991
Common Stock	978	1,064	1,025	1,024	1,003	1,002	1,001	991	987	993	1,168
Retained Earnings	-319	-299	-279	-264	-233	-220	-205	-198	-187	-185	-176
Noncontrolling Interest	110	118	118	120	118	120	123	124	124	124	128

This table displays calculated financial ratios and metrics derived from Select Water Solutions' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-43.54%	587.00%	-26.40%	-15.52%	-53.15%	26.36%	81.45%	14.27%	-8.41%	-3.08%
EBITDA Growth	0.00%	-589.60%	139.49%	150.50%	-33.51%	-329.55%	115.13%	288.96%	-5.12%	28.16%	7.58%
EBIT Growth	0.00%	-339.52%	90.16%	308.91%	-85.69%	-4,671.66%	88.05%	223.93%	-57.57%	123.41%	-14.92%
NOPAT Growth	0.00%	-334.72%	89.97%	384.76%	-73.77%	-1,862.00%	83.40%	183.92%	518.36%	-83.40%	-22.36%
Net Income Growth	0.00%	-283.46%	88.81%	254.58%	-92.38%	-9,813.06%	87.53%	209.52%	44.42%	-55.25%	-39.44%
EPS Growth	0.00%	0.00%	0.00%	292.16%	-96.94%	-13,366.67%	87.94%	204.17%	44.00%	-58.33%	-30.00%
Operating Cash Flow Growth	0.00%	-96.62%	-156.50%	8,116.87%	-12.25%	-48.12%	-115.36%	304.52%	758.70%	-17.69%	-8.61%
Free Cash Flow Firm Growth	0.00%	0.00%	-66.75%	108.97%	54.94%	82.65%	-153.69%	-106.76%	220.78%	-135.90%	-55.87%
Invested Capital Growth	0.00%	0.00%	272.34%	-1.56%	-9.21%	-48.03%	13.47%	46.42%	-6.40%	17.42%	18.35%
Revenue Q/Q Growth	0.00%	0.00%	337.37%	-46.46%	-37.43%	886.78%	18.95%	10.04%	-0.43%	-1.75%	-0.18%
EBITDA Q/Q Growth	0.00%	0.00%	49.62%	-2.95%	-4.09%	-4.56%	322.49%	2.03%	-18.43%	23.34%	1.94%
EBIT Q/Q Growth	0.00%	0.00%	26.46%	-9.21%	65.22%	-1.97%	41.02%	-4.89%	-62.76%	175.36%	-13.12%
NOPAT Q/Q Growth	0.00%	0.00%	30.71%	-9.25%	193.66%	-3.87%	17.16%	62.73%	297.45%	-84.32%	33.07%
Net Income Q/Q Growth	0.00%	0.00%	21.75%	-5.52%	378.89%	-2.21%	39.25%	-6.13%	33.93%	-45.65%	0.36%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-2.84%	42.86%	-7.41%	33.33%	-48.28%	10.53%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	59.71%	84.48%	-18.42%	-41.72%	41.79%	845.26%	20.15%	-6.16%	-1.07%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	110.83%	5.53%	-20.62%	-53.58%	-42.94%	878.02%	-190.36%	-17.30%
Invested Capital Q/Q Growth	0.00%	0.00%	168.94%	-6.24%	-4.59%	-0.52%	8.54%	18.01%	-2.20%	-0.80%	0.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	2.29%	-14.59%	2.78%	12.98%	11.52%	-4.84%	2.73%	11.59%	14.61%	15.11%	14.38%
EBITDA Margin	7.54%	-65.42%	3.76%	12.80%	10.08%	-49.37%	5.91%	12.67%	10.52%	14.72%	16.34%
Operating Margin	-12.84%	-98.87%	-1.44%	4.03%	1.79%	-65.24%	-8.57%	2.82%	3.86%	3.75%	2.05%
EBIT Margin	-12.67%	-98.66%	-1.41%	4.01%	0.68%	-66.28%	-6.27%	4.28%	1.59%	3.88%	3.41%
Profit (Net Income) Margin	-15.29%	-103.82%	-1.69%	3.55%	0.32%	-66.39%	-6.55%	3.95%	5.00%	2.44%	1.53%
Tax Burden Percent	100.37%	99.83%	97.63%	96.96%	67.97%	99.63%	100.86%	96.70%	380.44%	71.80%	86.73%
Interest Burden Percent	120.17%	105.41%	122.59%	91.34%	69.36%	100.53%	103.57%	95.46%	82.58%	87.64%	51.64%
Effective Tax Rate	0.00%	0.00%	0.00%	3.04%	32.03%	0.00%	0.00%	1.69%	-289.08%	27.48%	-6.50%
Return on Invested Capital (ROIC)	0.00%	-134.75%	-2.86%	5.21%	1.44%	-35.18%	-8.00%	5.13%	27.56%	4.35%	2.90%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	728.27%	-43.86%	-3.88%	46.40%	65.99%	-4.70%	-37.34%	686.57%	-93.06%	-3.83%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-52.75%	-2.16%	-0.22%	-1.07%	-8.99%	0.85%	1.82%	-18.64%	-0.43%	-0.57%
Return on Equity (ROE)	0.00%	-187.51%	-5.02%	5.00%	0.37%	-44.18%	-7.15%	6.95%	8.92%	3.92%	2.33%
Cash Return on Invested Capital (CROIC)	0.00%	-334.75%	-118.18%	6.78%	11.10%	28.03%	-20.62%	-32.55%	34.17%	-11.67%	-13.91%
Operating Return on Assets (OROA)	0.00%	-73.65%	-3.33%	4.51%	0.65%	-36.08%	-5.25%	5.47%	2.07%	4.36%	3.24%
Return on Assets (ROA)	0.00%	-77.51%	-3.99%	4.00%	0.31%	-36.14%	-5.49%	5.05%	6.49%	2.74%	1.45%
Return on Common Equity (ROCE)	0.00%	-62.88%	-2.76%	3.42%	0.30%	-37.17%	-6.05%	5.98%	7.73%	3.40%	2.02%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-278.53%	-5.35%	6.52%	0.44%	-67.74%	-8.46%	7.16%	10.26%	4.47%	0.00%
Net Operating Profit after Tax (NOPAT)	-48	-209	-21	60	16	-276	-46	39	238	40	31
NOPAT Margin	-8.99%	-69.21%	-1.01%	3.91%	1.21%	-45.67%	-6.00%	2.78%	15.02%	2.72%	2.18%
Net Nonoperating Expense Percent (NNEP)	0.00%	-863.02%	41.00%	9.09%	-44.95%	-101.17%	-3.31%	42.47%	-659.01%	97.42%	6.73%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.28%	26.68%	3.95%	2.47%
Cost of Revenue to Revenue	97.71%	114.59%	30.55%	87.02%	88.48%	104.84%	97.27%	88.41%	85.39%	84.89%	85.62%
SG&A Expenses to Revenue	10.56%	11.46%	3.97%	6.75%	8.64%	12.29%	10.87%	8.57%	9.81%	11.02%	11.46%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.13%	84.27%	4.23%	8.95%	9.73%	60.40%	11.30%	8.76%	10.75%	11.36%	12.33%
Earnings before Interest and Taxes (EBIT)	-68	-298	-29	61	8.77	-401	-48	59	25	56	48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	40	-198	78	196	130	-299	45	176	167	214	230
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.81	0.77	0.98	0.68	1.09	1.30	1.14	1.98	1.57
Price to Tangible Book Value (P/TBV)	0.00	0.00	8.13	1.56	1.72	0.84	1.33	1.59	1.36	2.41	1.95
Price to Revenue (P/Rev)	0.00	0.00	0.89	0.42	0.71	0.66	0.84	0.72	0.56	1.08	0.90
Price to Earnings (P/E)	0.00	0.00	0.00	17.52	330.07	0.00	0.00	20.63	11.87	51.27	59.70
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.57%	2.86%	1.90%	2.68%
Earnings Yield	0.00%	0.00%	0.00%	5.71%	0.30%	0.00%	0.00%	4.85%	8.43%	1.95%	1.68%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.02	0.83	0.98	0.64	1.09	1.26	1.13	1.79	1.40
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1.13	0.62	0.79	0.57	0.87	0.81	0.60	1.21	1.14
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	29.93	4.83	7.80	0.00	14.66	6.38	5.67	8.23	6.99
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	15.42	115.74	0.00	0.00	18.89	37.51	31.21	33.55
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	15.81	64.74	0.00	0.00	29.15	3.97	44.50	52.43
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	4.07	4.98	3.26	0.00	33.78	3.31	7.49	7.49
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	12.15	8.42	1.57	0.00	0.00	3.20	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.05	0.09	0.04	0.00	0.00	0.00	0.02	0.00	0.09	0.34
Long-Term Debt to Equity	0.00	0.05	0.09	0.04	0.00	0.00	0.00	0.02	0.00	0.09	0.31
Financial Leverage	0.00	-0.07	0.05	0.06	-0.02	-0.14	-0.18	-0.05	-0.03	0.00	0.15
Leverage Ratio	0.00	1.21	1.26	1.25	1.22	1.22	1.30	1.38	1.37	1.43	1.61
Compound Leverage Factor	0.00	1.28	1.54	1.14	0.84	1.23	1.35	1.31	1.14	1.25	0.83
Debt to Total Capital	0.00%	4.55%	8.28%	3.89%	0.01%	0.04%	0.02%	1.78%	0.02%	8.51%	25.44%
Short-Term Debt to Total Capital	0.00%	0.00%	0.17%	0.00%	0.01%	0.04%	0.02%	0.00%	0.02%	0.02%	2.51%
Long-Term Debt to Total Capital	0.00%	4.55%	8.11%	3.89%	0.00%	0.00%	0.00%	1.78%	0.00%	8.49%	22.93%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	63.28%	35.08%	24.04%	15.78%	15.98%	14.83%	13.09%	13.41%	12.19%	9.77%
Common Equity to Total Capital	0.00%	32.01%	56.55%	72.07%	84.21%	83.98%	85.16%	85.13%	86.57%	79.29%	64.79%
Debt to EBITDA	0.00	-0.08	1.23	0.23	0.00	0.00	0.00	0.09	0.00	0.40	1.38
Net Debt to EBITDA	0.00	0.12	1.19	0.14	-0.61	0.56	-1.90	0.05	-0.34	0.31	0.96
Long-Term Debt to EBITDA	0.00	-0.08	1.20	0.23	0.00	0.00	0.00	0.09	0.00	0.40	1.24
Debt to NOPAT	0.00	-0.08	-4.57	0.75	0.01	0.00	0.00	0.42	0.00	2.16	10.31
Net Debt to NOPAT	0.00	0.12	-4.44	0.46	-5.05	0.61	1.87	0.23	-0.24	1.65	7.17
Long-Term Debt to NOPAT	0.00	-0.08	-4.48	0.75	0.00	0.00	0.00	0.42	0.00	2.15	9.29
Altman Z-Score	0.00	0.00	5.44	3.05	3.59	0.45	1.92	2.98	2.96	3.21	2.05
Noncontrolling Interest Sharing Ratio	0.00%	66.47%	45.08%	31.54%	20.39%	15.86%	15.41%	13.99%	13.37%	13.37%	13.21%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.69	2.41	2.40	2.74	3.96	2.44	2.24	2.15	1.65	1.57
Quick Ratio	0.00	2.50	2.07	2.00	2.31	3.36	1.97	1.91	1.80	1.29	1.25
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-520	-867	78	121	220	-118	-244	295	-106	-147
Operating Cash Flow to CapEx	380.64%	19.04%	-3.18%	153.55%	219.49%	3,792.47%	-59.10%	81.92%	239.84%	149.28%	76.86%
Free Cash Flow to Firm to Interest Expense	0.00	-32.24	-130.78	14.65	44.85	103.08	-69.09	-90.53	67.20	-15.21	-6.35
Operating Cash Flow to Interest Expense	11.10	0.32	-0.44	43.76	75.87	49.54	-9.50	12.31	64.96	33.72	9.26
Operating Cash Flow Less CapEx to Interest Expense	8.19	-1.35	-14.20	15.26	41.31	48.23	-25.56	-2.72	37.87	11.13	-2.79
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.75	2.36	1.13	0.95	0.54	0.84	1.28	1.30	1.12	0.95
Accounts Receivable Turnover	0.00	3.98	9.09	4.22	4.20	3.01	4.22	4.15	4.18	4.80	5.16
Inventory Turnover	0.00	346.18	27.84	29.70	27.69	17.89	19.11	28.65	33.92	31.97	33.14
Fixed Asset Turnover	0.00	1.22	5.75	3.13	2.70	1.51	2.06	3.11	3.12	2.34	1.72
Accounts Payable Turnover	0.00	30.28	19.00	23.29	23.47	24.40	28.88	23.86	24.28	27.32	24.87
Days Sales Outstanding (DSO)	0.00	91.77	40.18	86.44	86.92	121.17	86.52	87.88	87.24	75.98	70.77
Days Inventory Outstanding (DIO)	0.00	1.05	13.11	12.29	13.18	20.40	19.10	12.74	10.76	11.42	11.01
Days Payable Outstanding (DPO)	0.00	12.05	19.21	15.67	15.55	14.96	12.64	15.30	15.03	13.36	14.67
Cash Conversion Cycle (CCC)	0.00	80.77	34.08	83.05	84.55	126.62	92.99	85.32	82.97	74.03	67.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	311	1,157	1,139	1,034	537	609	892	835	981	1,147
Invested Capital Turnover	0.00	1.95	2.83	1.33	1.19	0.77	1.33	1.85	1.84	1.60	1.33
Increase / (Decrease) in Invested Capital	0.00	311	846	-18	-105	-497	72	283	-57	145	178
Enterprise Value (EV)	0.00	0.00	2,339	945	1,015	345	663	1,122	946	1,758	1,608
Market Capitalization	0.00	0.00	1,839	640	919	401	645	996	883	1,571	1,267
Book Value per Share	$0.00	$0.00	$6.17	$7.81	$8.98	$5.76	$5.42	$6.70	$6.43	$6.65	$6.65
Tangible Book Value per Share	$0.00	$0.00	$2.13	$3.85	$5.11	$4.63	$4.43	$5.49	$5.42	$5.46	$5.37
Total Capital	0.00	351	1,159	1,156	1,113	706	695	900	892	1,001	1,243
Total Debt	0.00	16	96	45	0.13	0.31	0.11	16	0.19	85	316
Total Long-Term Debt	0.00	16	94	45	0.00	0.00	0.00	16	0.00	85	285
Net Debt	0.00	-24	93	28	-79	-169	-86	8.68	-57	65	220
Capital Expenditures (CapEx)	40	27	91	151	93	2.79	27	41	119	157	279
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	38	261	235	185	94	147	279	186	132	142
Debt-free Net Working Capital (DFNWC)	0.00	78	263	252	264	263	233	287	243	152	160
Net Working Capital (NWC)	0.00	78	261	252	264	263	233	287	243	152	129
Net Nonoperating Expense (NNE)	34	105	14	5.50	12	125	4.21	-16	159	4.06	9.21
Net Nonoperating Obligations (NNO)	0.00	-24	93	28	-79	-169	-86	8.68	-57	65	220
Total Depreciation and Amortization (D&A)	108	101	107	134	121	102	93	116	142	157	182
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	12.64%	12.54%	15.38%	14.29%	15.54%	19.23%	20.13%	11.71%	9.12%	10.08%
Debt-free Net Working Capital to Revenue	0.00%	25.88%	12.67%	16.51%	20.43%	43.47%	30.45%	20.66%	15.31%	10.49%	11.36%
Net Working Capital to Revenue	0.00%	25.88%	12.58%	16.51%	20.42%	43.42%	30.44%	20.66%	15.30%	10.48%	9.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.03	($3.98)	($0.48)	$0.51	$0.73	$0.31	$0.21
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	106.35M	105.08M	103.28M	102.66M	108.12M	125.61M	118.16M	119.29M	121.36M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.03	($3.98)	($0.48)	$0.50	$0.72	$0.30	$0.21
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	106.35M	105.08M	103.28M	102.66M	108.12M	125.61M	118.16M	119.29M	121.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	106.35M	105.08M	103.28M	102.66M	108.12M	125.61M	118.16M	119.29M	121.36M
Normalized Net Operating Profit after Tax (NOPAT)	-33	-70	-21	86	21	-78	-46	39	52	40	25
Normalized NOPAT Margin	-6.20%	-23.21%	-1.01%	5.59%	1.64%	-12.82%	-6.00%	2.78%	3.26%	2.78%	1.74%
Pre Tax Income Margin	-15.23%	-103.99%	-1.73%	3.66%	0.47%	-66.63%	-6.49%	4.09%	1.31%	3.40%	1.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-4.96	-18.50	-4.43	11.54	3.26	-187.77	-28.02	22.01	5.74	8.09	2.07
NOPAT to Interest Expense	-3.52	-12.98	-3.17	11.26	5.83	-129.37	-26.81	14.26	54.19	5.67	1.32
EBIT Less CapEx to Interest Expense	-7.88	-20.17	-18.19	-16.96	-31.30	-189.07	-44.09	6.99	-21.34	-14.50	-9.98
NOPAT Less CapEx to Interest Expense	-6.43	-14.65	-16.93	-17.24	-28.73	-130.68	-42.88	-0.76	27.11	-16.92	-10.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-5.08%	-0.07%	-1.05%	0.93%	8.44%	0.09%	-2.14%	14.52%	25.95%	83.91%	156.78%
Augmented Payout Ratio	-5.08%	-0.07%	-34.82%	31.43%	458.15%	-2.62%	-4.55%	51.36%	103.92%	106.23%	190.72%

This table displays calculated financial ratios and metrics derived from Select Water Solutions' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	121,361,644.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	121,361,644.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.07
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.79%	-1.79%	-12.01%	-9.76%	-4.60%	-6.89%	2.14%	-0.25%	-13.22%	-0.73%	-2.25%
EBITDA Growth	-0.64%	-92.28%	-8.28%	-3.75%	24.47%	1,283.19%	27.61%	10.65%	-10.61%	10.03%	12.98%
EBIT Growth	-32.09%	-468.95%	-55.26%	-18.03%	48.58%	107.29%	144.54%	5.93%	-48.29%	-296.80%	4.80%
NOPAT Growth	-42.15%	-27.88%	-55.68%	-36.51%	14.19%	-233.47%	126.96%	-30.50%	-108.99%	95.66%	20.75%
Net Income Growth	-38.04%	265.06%	-71.73%	-33.96%	22.83%	-107.72%	146.71%	-21.67%	-87.80%	3.56%	-1.34%
EPS Growth	-36.36%	225.00%	-66.67%	-35.00%	7.14%	-107.69%	100.00%	-23.08%	-80.00%	0.00%	0.00%
Operating Cash Flow Growth	2,105.06%	135.42%	278.34%	-18.49%	-56.12%	-18.54%	-115.75%	-0.64%	38.21%	-3.42%	302.37%
Free Cash Flow Firm Growth	51.01%	122.36%	102.98%	76.68%	-42.29%	-345.48%	-1,321.84%	-76.32%	-29.38%	-27.04%	-86.88%
Invested Capital Growth	12.94%	-6.40%	-0.22%	6.26%	15.77%	17.42%	10.64%	8.63%	15.02%	18.35%	17.22%
Revenue Q/Q Growth	-3.79%	-3.70%	-2.22%	-0.39%	1.70%	-6.01%	7.26%	-2.72%	-11.52%	7.53%	5.62%
EBITDA Q/Q Growth	-13.98%	-94.03%	1,337.82%	30.41%	11.25%	-33.69%	32.65%	13.08%	-10.13%	-18.38%	36.20%
EBIT Q/Q Growth	-30.84%	-290.64%	121.08%	194.95%	25.37%	-90.65%	606.93%	27.76%	-38.81%	-135.61%	476.45%
NOPAT Q/Q Growth	-35.72%	-71.15%	11.73%	206.38%	15.61%	-133.72%	290.00%	-6.18%	-114.95%	83.73%	5,391.40%
Net Income Q/Q Growth	-32.12%	80.48%	-85.98%	284.49%	26.25%	-111.35%	547.99%	22.08%	-80.34%	-189.71%	558.31%
EPS Q/Q Growth	-30.00%	85.71%	-84.62%	225.00%	15.38%	-113.33%	500.00%	25.00%	-70.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	15.93%	-29.62%	-61.38%	158.69%	-37.58%	30.63%	-107.47%	1,731.81%	-13.19%	-8.71%	-84.35%
Free Cash Flow Firm Q/Q Growth	54.09%	175.78%	-88.18%	-667.19%	-180.11%	-30.73%	41.17%	18.15%	-105.54%	-18.60%	6.33%
Invested Capital Q/Q Growth	-7.01%	-2.20%	13.83%	2.65%	1.31%	-0.80%	7.26%	0.78%	7.27%	0.87%	7.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.45%	14.55%	14.37%	16.48%	16.82%	12.66%	14.90%	15.86%	13.52%	13.08%	17.84%
EBITDA Margin	13.57%	0.84%	12.36%	16.19%	17.71%	12.49%	15.45%	17.96%	18.24%	13.84%	17.85%
Operating Margin	4.30%	1.79%	1.91%	5.58%	6.60%	0.75%	4.15%	4.24%	-0.55%	-0.11%	4.91%
EBIT Margin	4.51%	-8.92%	1.92%	5.69%	7.02%	0.70%	4.60%	6.05%	4.18%	-1.38%	4.94%
Profit (Net Income) Margin	3.93%	7.37%	1.06%	4.08%	5.07%	-0.61%	2.55%	3.20%	0.71%	-0.59%	2.58%
Tax Burden Percent	91.29%	-82.40%	67.09%	79.41%	77.87%	-315.21%	77.35%	71.27%	30.54%	17.90%	77.60%
Interest Burden Percent	95.64%	100.31%	81.95%	90.25%	92.69%	27.77%	71.71%	74.36%	55.75%	239.58%	67.30%
Effective Tax Rate	2.88%	0.00%	25.14%	21.10%	24.23%	340.47%	23.42%	27.61%	5.78%	0.00%	20.02%
Return on Invested Capital (ROIC)	8.26%	2.30%	2.31%	6.95%	8.02%	-2.87%	4.63%	4.39%	-0.69%	-0.10%	4.81%
ROIC Less NNEP Spread (ROIC-NNEP)	13.26%	-92.89%	0.23%	5.13%	9.08%	96.13%	2.26%	4.87%	2.20%	-1.41%	0.83%
Return on Net Nonoperating Assets (RNNOA)	-0.31%	2.52%	0.02%	0.37%	0.22%	0.44%	0.25%	0.56%	0.33%	-0.21%	0.10%
Return on Equity (ROE)	7.96%	4.82%	2.33%	7.32%	8.25%	-2.43%	4.88%	4.96%	-0.36%	-0.31%	4.91%
Cash Return on Invested Capital (CROIC)	-4.71%	34.17%	34.34%	37.52%	12.73%	-11.67%	-5.50%	-4.23%	-11.80%	-13.91%	-12.90%
Operating Return on Assets (OROA)	6.36%	-11.59%	2.29%	6.68%	8.20%	0.78%	4.74%	6.15%	4.02%	-1.32%	4.25%
Return on Assets (ROA)	5.56%	9.58%	1.26%	4.79%	5.92%	-0.69%	2.63%	3.26%	0.68%	-0.56%	2.22%
Return on Common Equity (ROCE)	6.85%	4.18%	2.02%	6.33%	7.13%	-2.10%	4.23%	4.29%	-0.31%	-0.27%	4.30%
Return on Equity Simple (ROE_SIMPLE)	7.79%	0.00%	9.01%	7.89%	8.19%	0.00%	5.19%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	16	4.69	5.24	16	19	-6.26	12	11	-1.67	-0.27	14
NOPAT Margin	4.18%	1.25%	1.43%	4.40%	5.00%	-1.79%	3.18%	3.07%	-0.52%	-0.08%	3.93%
Net Nonoperating Expense Percent (NNEP)	-5.00%	95.19%	2.08%	1.82%	-1.06%	-99.00%	2.37%	-0.48%	-2.88%	1.31%	3.98%
Return On Investment Capital (ROIC_SIMPLE)	-	0.53%	0.54%	-	-	-0.63%	1.02%	0.93%	-0.14%	-0.02%	1.05%
Cost of Revenue to Revenue	85.55%	85.45%	85.63%	83.52%	83.18%	87.34%	85.10%	84.14%	86.48%	86.92%	82.16%
SG&A Expenses to Revenue	10.01%	12.38%	12.00%	10.68%	10.04%	11.39%	10.00%	10.69%	12.93%	12.49%	11.08%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.15%	12.77%	12.46%	10.90%	10.22%	11.91%	10.75%	11.62%	14.07%	13.19%	12.93%
Earnings before Interest and Taxes (EBIT)	18	-33	7.05	21	26	2.44	17	22	13	-4.80	18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	53	3.15	45	59	66	44	58	65	59	48	65
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.21	1.14	1.39	1.62	1.65	1.98	1.57	1.29	1.60	1.57	1.87
Price to Tangible Book Value (P/TBV)	1.45	1.36	1.76	2.05	2.06	2.41	1.89	1.55	1.99	1.95	2.20
Price to Revenue (P/Rev)	0.58	0.56	0.70	0.85	0.89	1.08	0.85	0.71	0.92	0.90	1.32
Price to Earnings (P/E)	16.92	11.87	16.34	21.66	21.98	51.27	35.23	31.20	65.05	59.70	85.65
Dividend Yield	2.60%	2.86%	2.46%	2.16%	2.17%	1.90%	2.50%	3.15%	2.62%	2.68%	1.84%
Earnings Yield	5.91%	8.43%	6.12%	4.62%	4.55%	1.95%	2.84%	3.21%	1.54%	1.68%	1.17%
Enterprise Value to Invested Capital (EV/IC)	1.19	1.13	1.32	1.50	1.53	1.79	1.43	1.22	1.43	1.40	1.70
Enterprise Value to Revenue (EV/Rev)	0.64	0.60	0.82	0.98	1.02	1.21	1.03	0.89	1.15	1.14	1.49
Enterprise Value to EBITDA (EV/EBITDA)	4.97	5.67	7.71	9.10	8.70	8.23	6.63	5.55	7.20	6.99	8.80
Enterprise Value to EBIT (EV/EBIT)	15.01	37.51	75.96	122.25	73.71	31.21	22.56	19.06	29.46	33.55	42.88
Enterprise Value to NOPAT (EV/NOPAT)	16.97	3.97	3.86	3.53	5.99	44.50	32.54	31.35	70.50	52.43	61.74
Enterprise Value to Operating Cash Flow (EV/OCF)	4.28	3.31	3.74	4.61	6.02	7.49	7.59	6.55	7.49	7.49	9.09
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	3.20	3.84	4.11	12.86	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.08	0.10	0.09	0.09	0.27	0.29	0.32	0.34	0.22
Long-Term Debt to Equity	0.00	0.00	0.08	0.10	0.09	0.09	0.27	0.29	0.31	0.31	0.18
Financial Leverage	-0.02	-0.03	0.07	0.07	0.02	0.00	0.11	0.12	0.15	0.15	0.12
Leverage Ratio	1.37	1.37	1.45	1.44	1.41	1.43	1.57	1.57	1.59	1.61	1.60
Compound Leverage Factor	1.31	1.38	1.19	1.30	1.30	0.40	1.13	1.17	0.88	3.85	1.07
Debt to Total Capital	0.01%	0.02%	7.80%	9.09%	8.02%	8.51%	21.18%	22.73%	24.47%	25.44%	18.08%
Short-Term Debt to Total Capital	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.04%	0.05%	1.32%	2.51%	3.48%
Long-Term Debt to Total Capital	0.00%	0.00%	7.78%	9.07%	8.00%	8.49%	21.14%	22.67%	23.14%	22.93%	14.61%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	13.63%	13.41%	12.28%	12.10%	12.30%	12.19%	10.65%	10.37%	10.02%	9.77%	9.38%
Common Equity to Total Capital	86.36%	86.57%	79.91%	78.81%	79.68%	79.29%	68.17%	66.91%	65.52%	64.79%	72.54%
Debt to EBITDA	0.00	0.00	0.46	0.56	0.46	0.40	1.09	1.17	1.34	1.38	1.04
Net Debt to EBITDA	-0.12	-0.34	0.38	0.46	0.40	0.31	0.60	0.59	0.91	0.96	0.48
Long-Term Debt to EBITDA	0.00	0.00	0.46	0.56	0.46	0.40	1.09	1.16	1.27	1.24	0.84
Debt to NOPAT	0.00	0.00	0.23	0.22	0.32	2.16	5.34	6.59	13.09	10.31	7.30
Net Debt to NOPAT	-0.42	-0.24	0.19	0.18	0.28	1.65	2.93	3.33	8.92	7.17	3.35
Long-Term Debt to NOPAT	0.00	0.00	0.23	0.22	0.32	2.15	5.33	6.57	12.38	9.29	5.90
Altman Z-Score	3.16	2.80	2.74	2.91	2.95	3.08	2.15	1.98	2.05	1.94	2.75
Noncontrolling Interest Sharing Ratio	13.94%	13.37%	13.33%	13.49%	13.50%	13.37%	13.42%	13.37%	13.32%	13.21%	12.37%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.13	2.15	1.94	1.81	1.78	1.65	1.83	2.01	1.64	1.57	1.92
Quick Ratio	1.73	1.80	1.59	1.47	1.39	1.29	1.47	1.65	1.27	1.25	1.61
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-82	62	7.31	-41	-116	-152	-89	-73	-150	-178	-167
Operating Cash Flow to CapEx	351.96%	297.61%	112.35%	181.73%	164.82%	131.49%	-10.89%	115.11%	78.72%	93.50%	13.25%
Free Cash Flow to Firm to Interest Expense	-106.64	600.16	5.74	-20.45	-60.90	-86.17	-18.31	-12.94	-25.18	-26.59	-28.24
Operating Cash Flow to Interest Expense	154.53	807.70	25.26	41.02	27.22	38.48	-1.04	14.63	12.02	9.77	1.73
Operating Cash Flow Less CapEx to Interest Expense	110.62	536.30	2.78	18.45	10.70	9.22	-10.57	1.92	-3.25	-0.68	-11.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.41	1.30	1.19	1.17	1.17	1.12	1.03	1.02	0.96	0.95	0.86
Accounts Receivable Turnover	4.27	4.18	3.76	4.12	4.52	4.80	4.41	4.83	4.90	5.16	4.26
Inventory Turnover	32.24	33.92	33.40	31.65	30.93	31.97	31.55	31.29	32.76	33.14	30.39
Fixed Asset Turnover	3.35	3.12	2.78	2.58	2.47	2.34	2.15	2.01	1.81	1.72	1.64
Accounts Payable Turnover	23.34	24.28	18.63	28.13	23.69	27.32	22.60	26.58	22.81	24.87	21.67
Days Sales Outstanding (DSO)	85.39	87.24	97.08	88.61	80.84	75.98	82.73	75.62	74.53	70.77	85.59
Days Inventory Outstanding (DIO)	11.32	10.76	10.93	11.53	11.80	11.42	11.57	11.66	11.14	11.01	12.01
Days Payable Outstanding (DPO)	15.64	15.03	19.59	12.97	15.41	13.36	16.15	13.73	16.00	14.67	16.84
Cash Conversion Cycle (CCC)	81.07	82.97	88.42	87.17	77.23	74.03	78.14	73.55	69.67	67.11	80.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	854	835	951	976	989	981	1,052	1,060	1,137	1,147	1,233
Invested Capital Turnover	1.98	1.84	1.61	1.58	1.60	1.60	1.46	1.43	1.33	1.33	1.22
Increase / (Decrease) in Invested Capital	98	-57	-2.06	58	135	145	101	84	149	178	181
Enterprise Value (EV)	1,016	946	1,254	1,459	1,508	1,758	1,501	1,291	1,625	1,608	2,091
Market Capitalization	922	883	1,074	1,266	1,316	1,571	1,242	1,031	1,296	1,267	1,849
Book Value per Share	$6.33	$6.43	$6.48	$6.58	$6.69	$6.65	$6.65	$6.65	$6.66	$6.65	$8.17
Tangible Book Value per Share	$5.28	$5.42	$5.14	$5.20	$5.36	$5.46	$5.50	$5.54	$5.38	$5.37	$6.93
Total Capital	879	892	964	992	1,000	1,001	1,163	1,195	1,233	1,243	1,367
Total Debt	0.09	0.19	75	90	80	85	246	271	302	316	247
Total Long-Term Debt	0.00	0.00	75	90	80	85	246	271	285	285	200
Net Debt	-25	-57	62	74	69	65	135	137	206	220	113
Capital Expenditures (CapEx)	34	28	29	46	31	52	46	72	91	70	77
Debt-free, Cash-free Net Working Capital (DFCFNWC)	225	186	187	155	163	132	181	170	147	142	204
Debt-free Net Working Capital (DFNWC)	250	243	200	172	174	152	208	221	165	160	260
Net Working Capital (NWC)	250	243	200	172	174	152	208	220	149	129	213
Net Nonoperating Expense (NNE)	0.95	-23	1.37	1.17	-0.23	-4.13	2.34	-0.50	-3.96	1.79	4.94
Net Nonoperating Obligations (NNO)	-25	-57	62	74	69	65	135	137	206	220	113
Total Depreciation and Amortization (D&A)	35	37	38	38	40	41	41	43	45	53	47
Debt-free, Cash-free Net Working Capital to Revenue	14.11%	11.71%	12.19%	10.39%	11.05%	9.12%	12.37%	11.64%	10.46%	10.08%	14.61%
Debt-free Net Working Capital to Revenue	15.68%	15.31%	13.02%	11.49%	11.79%	10.49%	14.28%	15.15%	11.72%	11.36%	18.61%
Net Working Capital to Revenue	15.67%	15.30%	13.01%	11.48%	11.78%	10.48%	14.25%	15.10%	10.56%	9.14%	15.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.27	$0.04	$0.13	$0.16	($0.02)	$0.08	$0.10	$0.03	$0.00	$0.08
Adjusted Weighted Average Basic Shares Outstanding	120.14M	118.16M	118.92M	119.02M	119.31M	119.29M	120.22M	121.27M	121.13M	121.36M	138.14M
Adjusted Diluted Earnings per Share	$0.14	$0.26	$0.04	$0.13	$0.15	($0.02)	$0.08	$0.10	$0.03	$0.00	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	120.14M	118.16M	118.92M	119.02M	119.31M	119.29M	120.22M	121.27M	121.13M	121.36M	138.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	120.14M	118.16M	118.92M	119.02M	119.31M	119.29M	120.22M	121.27M	121.13M	121.36M	138.14M
Normalized Net Operating Profit after Tax (NOPAT)	16	5.43	5.28	16	19	2.63	13	12	0.48	0.65	19
Normalized NOPAT Margin	4.19%	1.45%	1.44%	4.41%	5.00%	0.75%	3.41%	3.36%	0.15%	0.19%	5.17%
Pre Tax Income Margin	4.31%	-8.95%	1.58%	5.14%	6.50%	0.19%	3.30%	4.50%	2.33%	-3.32%	3.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	22.93	-324.64	5.54	10.26	13.67	1.38	3.53	3.90	2.26	-0.72	3.06
NOPAT to Interest Expense	21.27	45.57	4.12	7.93	9.75	-3.56	2.44	1.98	-0.28	-0.04	2.43
EBIT Less CapEx to Interest Expense	-20.98	-596.04	-16.94	-12.31	-2.84	-27.88	-6.00	-8.81	-13.01	-11.17	-10.03
NOPAT Less CapEx to Interest Expense	-22.64	-225.83	-18.36	-14.64	-6.77	-32.82	-7.09	-10.73	-15.55	-10.49	-10.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	36.35%	25.95%	38.60%	42.70%	43.77%	83.91%	67.95%	84.67%	156.43%	156.78%	158.58%
Augmented Payout Ratio	121.13%	103.92%	121.95%	73.96%	73.19%	106.23%	85.47%	104.03%	191.48%	190.72%	198.95%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Select Water Solutions (NYSE: WTTR) based on the quarterly statements across 2022–2025. The items are grouped to highlight positives first, then neutral observations, and finally potential negatives. All figures are as reported in USD.

Strong operating cash flow in the latest quarters: Net cash from continuing operating activities was about $82.6M (Q2 2025), $71.7M (Q3 2025), and $65.5M (Q4 2025), signaling solid cash generation even as earnings volatility persists.
Gross margin remains in a stable, mid-teens range: Total gross margin has generally trended in the low-to-mid teens (roughly 12–14% in 2024–2025), indicating the core business continues to generate a predictable gross profit relative to revenue.
Solid balance-sheet cushion versus debt: At the latest reported period (Q3 2025), Total Equity was about $931.7M and LT debt around $285.4M, with Total Liabilities near $656.5M. This suggests a reasonable equity cushion and moderate leverage.
Quarterly earnings per share have been positive in several quarters: For example, Q2 2025 reported basic EPS of $0.10 and Q3 2025 basic EPS of $0.03, reflecting profitability on a per-share basis in multiple periods.
Revenue trends are relatively stable in a broad range: Revenue has generally sat in the mid-$300M range (e.g., ~$335–$389M across 2022–2023, ~$346–$349M in 2024–2025), with a peak in 2023 but no dramatic multi-year collapse yet.
Capital outlays remain a steady cash outflow: Investing cash flow has been consistently negative due to sizable purchases of property, plant & equipment and related investments (e.g., PPE purchases drive investing outflows in multiple quarters).
Occasional impairment charges are present but modest: Impairment expenses have appeared in some periods (e.g., about $1.0–$2.3M in 2025 quarters), adding volatility but not representing large, ongoing impairments.

Near-term earnings volatility with occasional quarterly losses: Net income has fluctuated, with some quarters showing losses (e.g., a Q4 2025 net loss of about $2.06M), indicating earnings volatility despite cash-flow strength.
Interest expense remains a drag and has shown upward pressure: Interest expense runs in the mid-$5M to $6M range per quarter in 2025, contributing to weaker margins in periods with higher debt service.
Liquidity remains modest despite solid cash flow: Cash and cash equivalents have been in the tens of millions (e.g., about $17.8M in Q3 2025 and around $27.9M in Q1 2025), which may constrain liquidity if operating needs spike or capex accelerates.

05/20/26 07:53 AM ETAI Generated. May Contain Errors.

Select Water Solutions Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Select Water Solutions' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Select Water Solutions' net income appears to be on a downward trend, with a most recent value of $21.47 million in 2025, falling from -$81.87 million in 2015. The previous period was $35.45 million in 2024. See where experts think Select Water Solutions is headed by visiting Select Water Solutions' forecast page.

Select Water Solutions' total operating income in 2025 was $28.81 million, based on the following breakdown:

Total Gross Profit: $202.40 million
Total Operating Expenses: $173.59 million

Over the last 10 years, Select Water Solutions' total revenue changed from $535.58 million in 2015 to $1.41 billion in 2025, a change of 162.8%.

Select Water Solutions' total liabilities were at $668.55 million at the end of 2025, a 48.3% increase from 2024, and a 850.2% increase since 2016.

In the past 9 years, Select Water Solutions' cash and equivalents has ranged from $2.77 million in 2017 to $169.04 million in 2020, and is currently $18.08 million as of their latest financial filing in 2025.

Over the last 10 years, Select Water Solutions' book value per share changed from 0.00 in 2015 to 6.65 in 2025, a change of 665.1%.

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Financial statements for NYSE:WTTR last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Select Water Solutions (WTTR) Financials

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Select Water Solutions (WTTR) Financials

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Quarterly Cash Flow Statements for Select Water Solutions

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Quarterly Metrics And Ratios for Select Water Solutions

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Key Financial Trends

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