# Flowserve Corporation (FLS)

> Source: Nexqual · https://nexqual.com/FLS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Flowserve Corporation (FLS), nexqual.com/FLS" · informational, not investment advice.

**Price:** USD 67.76 (-5.35% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 71.59 · day 65.79–70.34 · 52w 51.79–92.41 · market cap $8.61B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.63B, net income $371M (8.0% margin), free cash flow $411M (SEC filings).
- Valuation: P/E 23.2x (avg 27.4x at the last 3 fiscal year-ends), EV/EBITDA 20.5x, net debt $1.40B.
- 2 of 80 tracked superinvestors hold FLS (13F, Q2 2026): 0 new, 2 added, 0 reduced, 0 unchanged.
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $232K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.27 on a 1–5 scale) (11 analysts), mean target USD 87.6 (range 70–100).
- Total return with dividends: 1Y +30.2% vs S&P 500 +14.9%; 5Y +100.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.98, revenue estimate $1.24B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.54B | $3.62B | $4.32B | $4.56B | $4.73B | $4.63B |
| Gross profit | $1.05B | $994M | $1.28B | $1.43B | $1.58B | — |
| Operating income | $271M | $197M | $334M | $462M | $400M | $392M |
| Net income | $126M | $189M | $187M | $283M | $346M | $371M |
| EPS (diluted) | $0.96 | $1.44 | $1.42 | $2.14 | $2.64 | — |
| Free cash flow | $195M | -$116M | $258M | $344M | $435M | $411M |
| Gross margin | 29.6% | 27.5% | 29.6% | 31.5% | 33.4% | — |
| Operating margin | 7.6% | 5.5% | 7.7% | 10.1% | 8.5% | 8.5% |
| Net margin | 3.6% | 5.2% | 4.3% | 6.2% | 7.3% | 8.0% |
| Revenue growth | -5.0% | +2.1% | +19.5% | +5.5% | +3.8% | — |
| Cash + short-term investments | $658M | $435M | $546M | $675M | $760M | — |
| Total debt | $1.30B | $1.27B | $1.23B | $1.50B | $1.58B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 23.2x · P/S 1.9x · EV/EBITDA 20.5x · EV/Sales 2.2x · P/FCF 20.9x · P/B 3.8x · FCF yield 4.78% · Earnings yield 4.31% · Dividend yield (paid, TTM) 1.27% · Buyback yield (TTM) 2.64% · Net debt $1.40B · EV $10.0B
P/E at fiscal year-ends: Dec 2025 26.2x, Dec 2024 26.9x, Dec 2023 29.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold FLS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Henry Ellenbogen | Durable Capital Partners | 2.10% | $216M | Added +205.8% |
| First Eagle Investment | First Eagle Investment Management | 0.02% | $13.2M | Added +58.7% |

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $232K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-18 | McMurray Michael C. | Director | 2,500 | $164K | 65.71 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Savoy Brian D | Director | 1,000 | $67K | 67.34 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.27 on a 1–5 scale), 11 analysts; mean target USD 87.6 (low 70, high 100).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Mizuho | Target lowered | Outperform | $91 → $85 |
| 2026-10-14 | RBC Capital | Target lowered | Outperform | $94 → $88 |
| 2026-07-31 | RBC Capital | Target raised | Outperform | $91 → $94 |
| 2026-07-31 | Stifel | Target raised | Buy | $92 → $94 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +30.2% | +100.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +30.3% | +14.9% |
| Volatility (annualized) | 48.6% | 35.7% |
| Max drawdown | -29.8% (Feb 2026→May 2026) | -37.2% (Jan 2025→Mar 2025) |

## Peers (Specialty Industrial Machinery)
GNRC (Generac Holdlings Inc.) USD 188.02 -7.44% · CR (Crane Company) USD 189.05 -7.52% · GGG (Graco Inc.) USD 69.28 -15.32% · INIO (INNIO N.V.) USD 15.11 -10.43% · WTS (Watts Water Technologies, Inc.) USD 356.94 -1.78% · IEX (IDEX Corporation) USD 226.88 -3.63%

## More
Full page: https://nexqual.com/FLS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| FPD | $813.1M | 69.5% | -0.5% | $181.2M | 22.3% |
| FCD | $356.1M | 30.5% | -3.9% | — | — |
| FCD | $356.1M | 30.5% | -3.9% | $11.0M | 3.1% |
| Total revenue | $1.17B | 100% | — | $192.2M | 16.4% |
The lines above cover 130.5% of total revenue.

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Aftermarket | $574.2M | 49.1% | +7.7% |
| Original Equipment | $238.9M | 20.4% | -16.0% |
| Total revenue | $1.17B | 100% | — |
The lines above cover 69.5% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $520.6M | 44.5% | +0.4% |
| Europe | $199.3M | 17.0% | -7.1% |
| Middle East And Africa | $185.0M | 15.8% | -8.0% |
| Asia Pacific | $174.2M | 14.9% | -6.0% |
| Latin America | $90.1M | 7.7% | +31.7% |
| Total revenue | $1.17B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.98 | $1.06 | -7.7% | $1.24B | 11 |
| Next quarter (ends 2026-12-31) | $1.32 | $1.28 | +2.9% | $1.39B | 11 |
| Current fiscal year (ends 2026-12-31) | $4.10 | $4.06 | +1.1% | $4.86B | 11 |
| Next fiscal year (ends 2027-12-31) | $4.62 | $4.61 | +0.2% | $5.20B | 11 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±12.9%; last 8 reports averaged ±8.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 55.3% | ±12.9% |
| 2026-12-18 | 56 | 44.9% | ±14.5% |
| 2027-01-15 | 84 | 41.8% | ±16.5% |
| 2027-04-16 | 175 | 42.6% | ±23.7% |