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Gates Industrial vs Zurn Elkay Water Solutions: revenue, profit, margins and growth compared

Gates Industrial brought in $3.4B of revenue in fiscal 2025, Zurn Elkay Water Solutions $1.7B in fiscal 2025. Revenue changed by +1.0% at Gates Industrial and +8.3% at Zurn Elkay Water Solutions on the year before, so Zurn Elkay Water Solutions grew faster. Gates Industrial kept 7.3% of its revenue as net profit, Zurn Elkay Water Solutions 11.7%.

Side by side, latest fiscal year

GTESZWS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.4B$1.7B
Revenue growth+1.0%+8.3%
Net income$251.4M$198M
Net margin7.3%11.7%
Free cash flow$404.9Mn/a
Free cash flow margin11.8%n/a
Earnings per share (diluted)$0.96$1.15
Cash$812.1M$300.5M
Debt$2.2B$496.5M
Price to earnings28.040.6
Market value$6.8B$7.7B
Dividend yieldn/a0.81%
Rank by revenue in sector#162 of 451 · Industrials#234 of 451 · Industrials

Over the years

Revenue
GTES FY2018: $3.3BGTES FY2019: $3.1BGTES FY2020: $2.8BGTES FY2021: $3.5BGTES FY2022: $3.6BGTES FY2023: $3.6BGTES FY2024: $3.4BGTES FY2025: $3.4BZWS FY2020: $710.1MZWS FY2020: $2.1BZWS FY2020: $746.1MZWS FY2021: $910.9MZWS FY2022: $1.3BZWS FY2023: $1.5BZWS FY2024: $1.6BZWS FY2025: $1.7BFY18FY19FY20FY21FY22FY23FY24FY25
GTES $3.4BZWS $1.7B
Net income
GTES FY2018: $245.3MGTES FY2019: $690.1MGTES FY2020: $79.4MGTES FY2021: $297.1MGTES FY2022: $220.8MGTES FY2023: $232.9MGTES FY2024: $194.9MGTES FY2025: $251.4MZWS FY2020: $180.1MZWS FY2020: $146.7MZWS FY2021: $120.9MZWS FY2022: $61.7MZWS FY2023: $112.7MZWS FY2024: $160.2MZWS FY2025: $198MFY18FY19FY20FY21FY22FY23FY24FY25
GTES $251.4MZWS $198M
Net margin
GTES FY2018: 7.3%GTES FY2019: 22.4%GTES FY2020: 2.8%GTES FY2021: 8.6%GTES FY2022: 6.2%GTES FY2023: 6.5%GTES FY2024: 5.7%GTES FY2025: 7.3%ZWS FY2020: 8.7%ZWS FY2020: 19.7%ZWS FY2021: 13.3%ZWS FY2022: 4.8%ZWS FY2023: 7.4%ZWS FY2024: 10.2%ZWS FY2025: 11.7%FY18FY19FY20FY21FY22FY23FY24FY25
GTES 7.3%ZWS 11.7%
Revenue growth
GTES FY2019: -7.8%GTES FY2020: -9.5%GTES FY2021: +24.4%GTES FY2022: +2.3%GTES FY2023: +0.5%GTES FY2024: -4.5%GTES FY2025: +1.0%ZWS FY2020: +191.3%ZWS FY2020: -63.9%ZWS FY2021: +22.1%ZWS FY2022: +40.7%ZWS FY2023: +19.4%ZWS FY2024: +2.4%ZWS FY2025: +8.3%FY19FY20FY21FY22FY23FY24FY25
GTES +1.0%ZWS +8.3%
Free cash flow
GTES FY2018: $147.4MGTES FY2019: $276.8MGTES FY2020: $250.8MGTES FY2021: $304.7MGTES FY2022: $188.2MGTES FY2023: $419.8MGTES FY2024: $296.5MGTES FY2025: $404.9MZWS FY2020: $257.2MFY18FY19FY20FY21FY22FY23FY24FY25
GTES $404.9MZWS $257.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Gates Industrial and Zurn Elkay Water Solutions

Which is bigger by revenue, Gates Industrial or Zurn Elkay Water Solutions?

Gates Industrial is bigger by revenue: $3.4B in fiscal 2025, against $1.7B for Zurn Elkay Water Solutions in fiscal 2025.

Which keeps more of its revenue as profit, Gates Industrial or Zurn Elkay Water Solutions?

Gates Industrial had a net margin of 7.3% in fiscal 2025; Zurn Elkay Water Solutions had 11.7% in fiscal 2025.

Which grew revenue faster, Gates Industrial or Zurn Elkay Water Solutions?

In their latest fiscal years revenue changed by +1.0% at Gates Industrial and +8.3% at Zurn Elkay Water Solutions.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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