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Pentair (PNR) FY2024 results: revenue $4.1 billion, down 0.5% on the year

Pentair plc (PNR) reported revenue of $4.1 billion for fiscal 2024, the year ended 31 December 2024, down 0.5% on the year before. Net income was $625 million, up 0.4%, and diluted earnings per share $3.74. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.

Revenue
$4.1 billion
-0.5% on the year
FY2017FY2024
Operating margin
19.7%
18.0% a year earlier
FY2017FY2024
Net income
$625 million
+0.4% on the year
FY2017FY2024
Diluted EPS
$3.74
-0.3% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue4,0834,1044,122-0.5%
Cost of revenue2,4842,5852,757-3.9%
Gross profit1,5991,5191,365+5.2%
Gross margin39.2%37.0%33.1%
Research and development93.699.892.2-6.2%
Selling, general and administrative701680677+3.1%
Operating income804739595+8.7%
Operating margin19.7%18.0%14.4%
Pre-tax income719619551+16.2%
Income tax93.3-4.067.4
Effective tax rate13.0%-0.6%12.2%
Net income625623481+0.4%
Net margin15.3%15.2%11.7%
Diluted EPS$3.74$3.75$2.90-0.3%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow767619363+23.8%
Capital expenditure74.476.085.2-2.1%
Free cash flow692543278+27.4%
Free cash flow margin17.0%13.2%6.7%
Cash from investing-188-85.4-1,583
Cash from financing-637-4681,233
Depreciation and amortisation115115107-0.2%
Share-based compensation39.729.124.9+36.4%
Buybacks1500.050.0
Dividends paid152145139+4.9%
Dividend per share$0.92$0.88$0.84+4.5%
Diluted shares, weighted167m166m166m+0.5%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity3,5633,2172,708+10.7%
Debt1,6481,9882,317-17.1%
Operating lease liabilities92.879.152.4+17.3%
Other liabilities1,1431,2791,370-10.6%
Total liabilities and equity6,4466,5636,448-1.8%
Fixed assets359362344-0.9%
Goodwill3,2873,2753,253+0.4%
Intangible assets1,0341,0421,095-0.8%
Cash and equivalents119170109-30.3%
Inventory611678790-9.9%
Other assets1,0381,036857+0.1%
Total assets6,4466,5636,448-1.8%

10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.