بإذنك، نستخدم تحليلات محدودة تراعي الخصوصية لفهم مسارات البحث الفعالة. لا نستخدم أدوات تتبع إعلانية أو تسجيل الجلسات. يمكنك تغيير هذا الخيار في التفضيلات. اقرأ سياسة الخصوصية.
Quote this valuation with its source: Fair value, Potential value and the price at analysis.
FAQ
PNR — frequently asked questions
Is Pentair plc overvalued?
In our latest published analysis dated 2026-10-15, PNR looks meaningfully undervalued. The price recorded at analysis is 52.1 USD versus our fair value of 73.7 USD; the high endpoint is presented separately as potential value of 87.4 USD. That implies roughly 41.4% upside to fair value at that date.
Our latest published report, analyzed 2026-10-15, gives PNR a fair value of 73.7 USD and a potential value of 87.4 USD. The conclusion is triangulated across multiple valuation models and weighted by reliability for Pentair plc's archetype; it is a dated research output, not a live price.
Should I buy PNR now?
Our latest published rating for PNR, analyzed 2026-10-15, is Strong Buy. Pentair plc looks meaningfully undervalued at the analysis-date price of 52.1 USD versus fair value of 73.7 USD; potential value is 87.4 USD. This is research for educational purposes, not personalized investment advice.
What are the biggest risks for PNR?
The dedicated bear-case section in our report analyzed 2026-10-15 documents Pentair plc's material risks, evidence, thresholds, and thesis-invalidation conditions. Scenario-specific explanations remain in that section so the report does not repeat or decontextualize them elsewhere.
What is PNR's rating?
Our latest published rating for PNR, analyzed 2026-10-15, is Strong Buy, with a published moat assessment of 7/10 (Narrow). It reflects our fair value of 73.7 USD, the potential value of 87.4 USD, and the price recorded at analysis (52.1 USD).
لم تتم ترجمة هذا التقرير بعد. قم بالتحديث خلال بضع دقائق بمجرد أن تلحق قائمة انتظار الترجمة بالركب.
§1 الملخص التنفيذيEN
الإجابة في 30 ثانيةStrong Buy
السعر مقابل القيمة
Price
$52.11
Fair value
$73.66
Potential value
$87.40
As of
2026-10-14
لماذا قد تنجح الفرضية
Accelerated consumer adoption of energy-efficient variable-speed pool pumps, connected automation systems, and advanced membrane filtration solutions, driving operating margin expansion and double-digit per-share earnings compounding as residential construction normalizes.
ما الذي سيغيّر تقييمنا
Customer One demands steep pricing concessions or executes aggressive inventory destocking amid prolonged residential housing and pool installation softness.
We assign Pentair plc a Strong Buy rating, reflecting 41.4% upside to Fair value of $73.66 supported by high-margin aftermarket demand and exceptional free cash flow generation.
Pentair carries a house rating of Strong Buy, signaling that the shares offer substantial risk-adjusted return potential for long-term investors seeking high-quality industrial compounders.
Evaluated at $52.11 (as of 2026-10-14), the shares trade at a significant discount to our Fair value of $73.66, with Potential value reaching $87.40, implying 41.4% upside to the central valuation anchor.
The primary downside risk centers on distributor concentration in the residential pool equipment franchise, where Customer One accounted for 18% of consolidated sales in FY2025. If prolonged mortgage rate pressures prolong the housing construction slump, distributor inventory destocking and pricing concessions could compress Pool segment below 28%, dampening consolidated operating profit and .
The primary catalyst for outperformance is the non-discretionary nature of pool equipment replacement and specialized commercial filtration, where Pentair generates over 60% of pool sales from the installed base. Asset-light assembly requires minimal capex of $68.8M, enabling free cash flow conversion of 114.1% ($746.0M FCF) that self-funds disciplined share repurchases and compound value per share.5,6,7
High-Margin Aftermarket Replacement Demand
Over 60% of Pool revenue is recurring maintenance and replacement of pumps, filters, and sanitizers, generating a 33.81% operating margin.7
Differentiated Flow and Water Solutions
Proprietary commercial fluid handling and membrane filtration deliver 23.31% Flow margin and 23.91% Water Solutions margin, outperforming diversified peer profitability.7
Exceptional Free Cash Flow Conversion and Capital Returns
We rate Pentair plc a Strong Buy because durable pool aftermarket replacement demand, asset-light manufacturing, and superior cash conversion support substantial earnings compounding at an attractive valuation.
نظرة عامة على الشركة
Pentair plc is a global water solutions company delivering specialized fluid management, water treatment, and pool equipment franchises. The business operates across three primary reportable segments: Pool, Flow, and Water Solutions, serving residential, commercial, and industrial end-markets globally with localized delivery networks.
The company's offerings encompass energy-efficient swimming pool pumps, filters, heaters, automated controls, commercial fluid motion systems, and sustainable water filtration membranes. End-user demand experiences seasonal highs from April through September in alignment with warm weather patterns, which Pentair balances through dealer early-buy advance sale programs and non-discretionary aftermarket replacement cycles.
Management assesses enterprise performance using net sales and reportable segment operating income, focusing on return on sales to track operational transformation across specialized water platforms.
§2 السيناريو الهبوطيEN
Under an extreme cyclical stress test combining a 10% consolidated revenue drop and a 300 basis point operating margin compression, Pentair's asset-light assembly model provides crucial operating resilience. Because maintenance capital expenditures require only 1.65% of revenue ($68.8M in FY2025) and variable production costs can be flexed rapidly, operating cash flow remains comfortably positive. With total debt of $1,764.7M as of October 15, 2026, annual interest expense is readily covered even in a trough EBITDA scenario. The primary financial impairment under this stress scenario would be a temporary curtailment of share buybacks rather than balance sheet distress, preserving solvency while earnings normalize.
Persistent mortgage rate pressure depressing new pool installations and discretionary remodels
Distributor inventory destocking and pricing pushback compressing operating margins
كيف يمكن أن تفشل هذه الأطروحة
Severe pool distributor inventory destocking and pricing pushback by Customer One
Customer One accounts for 18% of consolidated net sales in the Pool business. Prolonged high interest rates suppress new pool construction, triggering aggressive distributor destocking and volume discount demands that compress Pool segment operating margin from 33.81% toward 25.0%, pulling consolidated operating margin below 17.5% within 12 months.7
FV impact
-3.5%
Operating margin 3 points lower throughout
Trigger
Within 12 months
إشارات الإنذار المبكر للمراقبة
التطورات الخمسة التي قد تضعف أطروحتنا الاستثمارية.
Distributor pricing concessions and aggressive volume destocking eroding the core aftermarket earnings engine.
الحالي:33.81% (FY2025)
تنبيه إذا< 28.0%
02
Customer One Concentration Share
Excessive wholesale channel concentration increasing distributor and destocking risk.
§3 الميزة التنافسيةEN
Narrow
Pentair possesses a narrow economic moat founded on structural advantages across its specialized water and fluid management franchises. The primary competitive advantage resides in its Pool segment, where an extensive installed base of residential swimming pools generates predictable, non-discretionary aftermarket replacement demand. Pool pumps, filtration equipment, heaters, and sanitizers require replacement every five to eight years regardless of broader economic conditions, creating a recurring revenue stream that insulates Pentair from cyclical swings in new pool construction. This installed base advantage is amplified by close alignment with specialized wholesale distributors such as Customer One, which accounted for 18% of consolidated sales in FY2025.
In Flow and Water Solutions, Pentair's economic moat is reinforced by switching costs and technical differentiation in critical commercial and industrial fluid handling applications. Specialized pumps and filtration systems are engineered to precise customer specifications, integrated into larger plumbing and wastewater infrastructures, and subject to stringent municipal and environmental compliance standards. These technical barriers prevent routine brand substitution and allow Pentair to sustain operating margins of 23.31% in Flow and 23.91% in Water Solutions, outperforming diversified multi-industrial peers such as Dover (18.69%) and Xylem (17.00%).
These structural moats translate into superior financial returns. Return on invested capital consistently exceeds Pentair's computed 8.68% WACC and 9.46% cost of equity, supported by asset-light assembly operations requiring capital expenditures of just 1.65% of revenue ($68.8M in FY2025). While customer concentration in wholesale distribution introduces channel volatility, deep contractor relationships and brand preference ensure durable economic profit generation over the investment horizon.
الربح الاقتصادي
Pentair generates returns on capital comfortably above its cost of capital, reflecting durable economic profit. The company's return on equity of 17.13% in FY2025 and enterprise ROIC exceed its computed 8.68% WACC and 9.46% cost of equity. This spread is sustained by high operating margins across Pool (33.81%), Flow (23.31%), and Water Solutions (23.91%), supported by asset-light assembly requiring just 1.65% capex-to-revenue ($68.8M capex in FY2025).2,6,7
7/ 10
Narrow
Sources of advantage
01Installed Base and Aftermarket Distribution Network — Over 60% of Pool segment revenue is non-discretionary aftermarket replacement of pumps, filters, heaters, and sanitizers every 5-8 years across an expanding residential installed base. Sales flow through specialized wholesale distributors like Customer One (18% of consolidated sales in FY2025), creating distributor alignment and strong installer loyalty.Wide
02Proprietary Fluid Engineering and Switching Costs — Proprietary engineering in mission-critical commercial pumping, membrane filtration, and industrial fluid motion creates specification lock-in and high switching costs, generating 23.31% operating margin in Flow and 23.91% in Water Solutions, outperforming diversified peer margins (Dover at 18.69%, Generac at 17.93%, Xylem at 17.00%).
التهديدات المعروفة للميزة التنافسية
التهديد
الخطورة
الجدول الزمني
التخفيف
Distributor bargaining power and inventory volatility from Customer One concentration
medium
12-24 months
Pentair's end-user brand preference and certified pool installer training programs create pull-through demand that prevents distributors from substituting competing equipment.
الصفوف: معدل الخصم (Ke للأرباح؛ WACC للتدفقات النقدية). الأعمدة: النمو النهائي.
تغير المدة (سنوات)
None of the valuation methods used to calculate Fair value relies on a separate assumption about how long the competitive advantage lasts.
مرجع الحساسية
The highlighted cell is Fair value when every assumption sits at its base level ($73.66). Each row and column shows what Fair value becomes when one assumption moves.
منحدر التدفق النقدي الحر
Free cash flow to the firm stays positive in the first projected year at $678.9M after modeled reinvestment of $35.7M, with terminal value at 78.0% of enterprise value. A sudden drop in free cash flow is not projected unless capital spending relative to revenue, reinvestment, or gross margin resets materially.
The Base case establishes a target of $73.66, representing 41.4% implied return from $52.11 (as of 2026-10-14) with an assigned probability of 60.0%. This scenario assumes the residential pool replacement cycle resumes normalized seasonal patterns, Flow and Water Solutions deliver steady mid-single digit volume growth, and operating margins expand gradually supported by enterprise transformation initiatives.
Maintain Strong Buy; Maintain position conviction; verify whether outperformance stems from enduring market share gains or one-off wholesale stocking timing.
المُحفِّز: Consolidated revenue and diluted earnings exceed consensus expectations, driven by earlier-than-projected volume recovery in residential pool equipment and expanding flow margins.
Outperformance confirms that distributor destocking has completed and validates the multi-year earnings compounding trajectory toward FY2027.
متوافق
Maintain Strong Buy; Hold existing allocation; monitor quarterly progress on operational transformation programs.
المُحفِّز: Operating revenue and margins match consensus projections with normal seasonal cash flow generation.
In-line execution demonstrates business stability along the projected cyclical baseline, keeping long-term earnings growth on track.
دون التوقعات
Downgrade the rating; Re-examine channel concentration risks; assess whether segment operating margins have breached fundamental support thresholds before executing adjustments.
المُحفِّز: Consolidated revenue contracts significantly below consensus due to persistent distributor destocking in Pool, accompanied by marked operating margin compression.
A substantial shortfall driven by distributor margin concessions would indicate pricing power erosion, requiring a reassessment of terminal multiple assumptions.
جودة الأرباح
Earnings quality remains robust, characterized by operating cash flows that consistently exceed reported net income and minimal maintenance capital expenditure requirements. Free cash flow conversion remains well above net income, supported by disciplined inventory management and stable receivable turnover across wholesale distribution channels, ensuring that accounting profits translate directly into liquid cash without aggressive accrual distortions.6
زخم التقديرات
Consensus revenue and earnings estimates for FY2027 have experienced positive upward revisions over recent trailing windows, reflecting growing confidence in cyclical stabilization and margin resilience.
Pentair generated $814.8M in operating cash flow and $746.0M in free cash flow in FY2025 on GAAP net income of $653.8M, delivering an exceptional free cash flow conversion rate of 114.1%. Capital expenditures were modest at $68.8M, representing just 1.65% of consolidated revenue of $4,176.0M.5,6
تخصيص رأس المال
Capital allocation is anchored by disciplined reinvestment, debt service, and equity returns. In FY2025, capital expenditures consumed only $68.8M, while stock-based compensation totaled $37.0M. Total debt stood at $1,764.7M as of October 15, 2026. With annual exceeding $700M, Pentair maintains sufficient liquidity to service at an effective tax rate of 13.58% and pre-tax debt cost of 5.75%, while returning capital via dividends ($1.08 per share base assumption) and opportunistic share repurchases.
Return on invested capital continues on an upward trajectory, supported by operational transformation initiatives and mix shift toward higher-margin commercial water treatment. Return on equity of 17.13% in FY2025 comfortably outpaces the 9.46% cost of equity.
أحدث إيرادات4.2 مليار US$معدل النمو السنوي المركب للإيرادات +4.6%
هامش التشغيل20.5%10 فترات مالية
أحدث تدفق نقدي حر746 مليون US$FY2025
صافي الدين1.5 مليار US$FY2025
تفصيل قائمة الدخلكيف يتحول حجم الأعمال إلى أرباح مُعلنة.30 يونيو 2026
StockMarketAgent.AI
الإيرادات932.6 مليون US$تكلفة الإيرادات−537.6 مليون US$إجمالي الربح395 مليون US$المصروفات التشغيلية−228.5 مليون US$الدخل التشغيلي166.5 مليون US$البنود غير التشغيلية والضرائب−37.9 مليون US$صافي الدخل128.6 مليون US$
بيانات التاريخ المالي
الإيرادات
932,600,000 US$
تكلفة الإيرادات
537,600,000 US$
إجمالي الربح
395,000,000 US$
المصروفات التشغيلية
228,500,000 US$
الدخل التشغيلي
166,500,000 US$
البنود غير التشغيلية والضرائب
-37,900,000 US$
صافي الدخل
128,600,000 US$
لمحة عن الميزانية العموميةكيفية الاحتفاظ بالأصول المُبلغ عنها وتمويلها في الفترة المحددة.
StockMarketAgent.AI
تكوين الأصولمصادر التمويل
إجمالي الأصول6.9 مليار US$النقد101.6 مليون US$الأصول المتداولة1.5 مليار US$إجمالي الالتزامات3 مليار US$الالتزامات المتداولة959.3 مليون US$حقوق المساهمين3.9 مليار US$
بيانات تفصيل الميزانية العمومية
إجمالي الأصول
6,868,800,000 US$
النقد
101,600,000 US$
الأصول المتداولة
1,541,800,000 US$
إجمالي الالتزامات
2,999,600,000 US$
الالتزامات المتداولة
959,300,000 US$
حقوق المساهمين
3,869,200,000 US$
جسر التدفق النقديكيف تحول التدفق النقدي التشغيلي إلى تدفق نقدي حر في FY2025.
StockMarketAgent.AI
تسوية التدفق النقدي التشغيلي
صافي الدخل653.8 مليون US$الإهلاك والإطفاء+117.7 مليون US$التعويض القائم على الأسهم+37 مليون US$تعديلات تشغيلية أخرى+6.3 مليون US$التدفق النقدي التشغيلي814.8 مليون US$
تسوية النقد من بداية الفترة إلى نهايتها
النقد في بداية الفترة118.7 مليون US$التدفق النقدي التشغيلي+814.8 مليون US$التدفق النقدي الاستثماري−404.5 مليون US$التدفق النقدي التمويلي−402.5 مليون US$تأثير سعر الصرف−24.9 مليون US$النقد في نهاية الفترة101.6 مليون US$
814.8 مليون US$ − 68.8 مليون US$التدفق النقدي الحر 746 مليون US$
بيانات جسر التدفق النقدي
صافي الدخل
653,800,000 US$
التدفق النقدي التشغيلي الداخل
814,800,000 US$
الإهلاك والإطفاء
117,700,000 US$
التعويض القائم على الأسهم
37,000,000 US$
تعديلات تشغيلية أخرى
6,300,000 US$
التدفق النقدي التشغيلي
814,800,000 US$
النقد المتاح
933,500,000 US$
النقد في بداية الفترة
118,700,000 US$
التدفق الاستثماري الخارج
404,500,000 US$
النفقات الرأسمالية
68,800,000 US$
أنشطة استثمارية أخرى
335,700,000 US$
التدفق التمويلي الخارج
402,500,000 US$
إعادة شراء الأسهم
225,000,000 US$
أرباح الأسهم المدفوعة
164,300,000 US$
صافي سداد الدين
10,400,000 US$
أنشطة تمويلية أخرى
2,800,000 US$
تأثير سعر الصرف
24,900,000 US$
النقد في نهاية الفترة
101,600,000 US$
التدفق النقدي الاستثماري
-404,500,000 US$
التدفق النقدي التمويلي
-402,500,000 US$
الإيرادات حسب القطاع التشغيليالحصة من إجمالي إيرادات 2025-12-31.
4.2 مليار US$إجمالي الإيرادات
الإيرادات حسب القطاع التشغيليالحصة
Pool1.6 مليار US$37.3%+8.5% على أساس سنوي
Flow1.6 مليار US$37.2%+2.6% على أساس سنوي
Water Solutions1.1 مليار US$25.4%−6.1% على أساس سنوي
المصدر: SEC EDGAR · تاريخ الإيداع 2026-02-24 · SEC EDGAR
بيانات توزيع الإيرادات: الإيرادات حسب القطاع التشغيلي
الإيرادات حسب القطاع التشغيلي
الإيرادات
الحصة
على أساس سنوي
Pool
1.6 مليار US$
37.3%
8.5%
Flow
1.6 مليار US$
37.2%
2.6%
Water Solutions
1.1 مليار US$
25.4%
-6.1%
الإيرادات حسب المنطقةالحصة من إجمالي إيرادات 2025-12-31.
4.2 مليار US$إجمالي الإيرادات
الإيرادات حسب المنطقةالحصة
United States2.9 مليار US$70.4%+3.7% على أساس سنوي
Developing507.8 مليون US$12.2%−3.7% على أساس سنوي
Western Europe496 مليون US$11.9%+0.5% على أساس سنوي
Other Developed234.1 مليون US$5.6%+2.4% على أساس سنوي
المصدر: SEC EDGAR · تاريخ الإيداع 2026-02-24 · SEC EDGAR
بيانات توزيع الإيرادات: الإيرادات حسب المنطقة
الإيرادات حسب المنطقة
الإيرادات
الحصة
على أساس سنوي
United States
2.9 مليار US$
70.4%
3.7%
Developing
507.8 مليون US$
12.2%
-3.7%
Western Europe
496 مليون US$
11.9%
0.5%
Other Developed
234.1 مليون US$
5.6%
2.4%
الإيرادات والأرباحكيف يتحول حجم الأعمال إلى أرباح مُعلنة.
النقد والدينالسيولة المتاحة مقارنة بإجمالي الاقتراض.
توليد النقدالتدفق النقدي التشغيلي مقارنة بالتدفق النقدي الحر.
Pentair plc (PNR) trades at 10.7x forward earnings against a peer median of 16.6x. Its EV/EBITDA of 9.7x compares with a peer median of 15.7x. The comparison uses 4 peers: Generac Holdings Inc., Xylem Inc., Dover Corporation and Ingersoll Rand Inc., as of 2026-10-15.
§10 الصناعة والدورةEN
مرحلة الدورة
Trough
The broader industry capital cycle displays capex-to-revenue of 4.1% and capex-to-depreciation of 0.68. Pentair operates with an even more asset-light model, recording FY2025 capital expenditures of $68.8M (1.65% of revenue of $4,176.0M) against depreciation of $117.7M. Consensus forecasts project FY2026 revenue contracting -3.4% before rebounding +18.2% in FY2027, signaling that channel destocking is reaching a cyclical bottom.1,6
دورة صعودية
An expansionary industry cycle is catalyzed by normalizing mortgage interest rates, accelerating single-family home turnover, and regulatory mandates for energy-efficient variable-speed pool pumps. Under these conditions, delayed pool remodeling transitions into active replacement, while commercial and municipal investments in membrane filtration and sustainable fluid handling drive high single-digit volume expansion and operating leverage.
دورة هبوطية
A downcycle scenario is driven by sustained high interest rates, depressed housing turnover, and deferred discretionary residential spending. Distributors respond by aggressively reducing inventory levels, while end-users delay non-essential pool equipment upgrades, pressuring wholesale order rates and capping price realization across residential categories.
الاتجاهات طويلة الأمد
الاتجاه
التأثير
ملاحظة
Electrification and Variable-Speed Energy Efficiency Mandates
positive
Federal and state energy efficiency standards require variable-speed pool pumps, which carry higher unit pricing and richer margins than single-speed predecessors, expanding revenue per installed pool pad.
Water Quality Scarcity and Industrial Membrane Filtration
positive
التموضع
Pentair is exceptionally well positioned at the intersection of specialized fluid management and residential water equipment. With more than 60% of Pool segment revenue derived from non-discretionary aftermarket replacement, the company is far more insulated from housing starts than traditional building materials suppliers. Furthermore, premium operating margins in Flow (23.31%) and Water Solutions (23.91%) outperform general industrial machinery peers (Dover at 18.69%, Xylem at 17.00%), reflecting superior pricing defensibility and technological differentiation.3,7
Risk management mandates rigorous tracking of channel inventory sell-through, housing remodeling activity, and free cash flow conversion. Rebalance exposure if share price reaches Potential value $87.40, or if fundamental checkpoints signal structural margin erosion.
شرائح الدخول
المستوى
إجراء
لماذا
$52.11
Initial Allocation
Initiate core position at $52.11 (as of 2026-10-14) to capture the 41.4% upside to Fair value.
Review distribution pricing concessions, demote moat durability, and adjust valuation multiples downward.
§12 وجهات نظر المستثمرينEN
Value / Total Return
Buy
Trading at $52.11 with 41.4% upside to Fair value $73.66, Pentair offers compelling total return potential supported by strong cash generation.
Quality Compounder
Buy
A narrow economic moat driven by high Pool operating margins (33.81% in FY2025) and asset-light assembly enables steady high-return capital reinvestment and share repurchases.7
Defensive / Cash Flow
Buy
Resilient aftermarket replacement demand and free cash flow conversion of 114.1% ($746.0M FCF in FY2025 on $653.8M net income) provide robust downside protection against cyclical fluctuations.5,6
§14 التوصية النهائيةEN
إجراء
شراء قوي
Pentair presents an exceptional risk-adjusted investment opportunity at $52.11 (as of 2026-10-14), offering 41.4% upside to Fair value of $73.66 with Potential value reaching $87.40.
The combination of high-margin pool equipment aftermarket replacement demand, specialized water treatment technologies, and superior free cash flow conversion supports sustainable high single-digit earnings compounding.
§15ملاحظاتك
دوّن أطروحتك الاستثمارية وحجم مركزك وأسئلة المتابعة. تبقى على هذا الجهاز، ولا يراها أحد سواك.
ملاحظات خاصة
مرئية لك وحدك. محفوظة على هذا الجهاز.
لا أحرف
Sources
The records this analysis drew on, as they stood when it was run.
Analyst consensusData as of 2026-10-15 · Published 2026-10-15 · Provider-adjusted · cited for 2 figuresCited in الصناعة والدورة, شجرة قرارات الأرباح
Not every cited input appears here: internal calculations and intermediate model outputs have no external record, and some citations could not be matched to one.
The downside path models prolonged macroeconomic weakness where elevated interest rates suppress residential pool construction and discretionary renovations, while distributor destocking and volume discount demands compress segment profitability. We would recognize this outcome if Pool operating margin falls below fundamental support levels or if consolidated revenue contracts across multiple reporting periods.
Protracted housing and residential remodel slump capping water equipment replacement
Consensus FY2026 revenue is already projected to decline -3.4%. Persistent mortgage rate pressure and deferred residential pool equipment upgrades eliminate the projected FY2027 rebound (+18.2% in house forecast), causing revenue growth to lag base expectations by 500 bps annually over the 5-year forecast horizon.
FV impact
-6.6%
Revenue and EPS growth 5 points lower for five years
Trigger
Within 24 months
Multiple de-rating from terminal multiple contraction amid slowing water compounding
Pentair currently trades at a forward P/E of 10.73x. If the market prices Pentair as a cyclical building products supplier rather than a premium water compounder, the terminal P/E multiple fails to reach the assumed 15.0x and de-rates by 20% to 12.0x within 18 months, significantly reducing forward earnings fair value.4
Scale competition from multi-industrial conglomerates in standard commercial fluid pumping
medium
24-36 months
Focusing on highly specialized, energy-efficient fluid movement and proprietary membrane filtration allows Pentair to sustain superior segment profitability compared to broader diversified machinery peers.3
Discounted forecast-period cash flows (20.05 US$) plus discounted terminal value (71.15 US$) minus signed per current share (9.51 US$) equals the 81.69 US$ lens value shown above. Negative net debt is , so subtracting it raises value.
Multiply the peer median PEG by this stock's forecast growth to derive an implied forward P/E, then apply it to forward EPS.
How this lens was calculated
Inputs used in this report
Opportunistic share repurchases accelerate diluted earnings per share growth
The Bull case projects a target of $87.40, yielding 67.7% return from $52.11 (as of 2026-10-14) with an assigned probability of 20.0%. This path requires accelerated adoption of connected pool automation and energy-efficient systems, robust commercial water filtration demand, operating margins expanding toward peak levels, and active share repurchases compounding per-share value.
لماذا يهم
Tracks wholesale distribution reliance; rapid increases or abrupt inventory contractions signal distributor leverage shifts and channel destocking risks.
Validates cash generation quality; conversion falling below net earnings signals working capital absorption or unbudgeted capital intensity, reducing share repurchase capacity.
Pool segment operating margin reached 33.81%, Flow reached 23.31%, and Water Solutions reached 23.91%, compared to Dover at 18.69% and Xylem at 17.00%.
Specialized fluid and pool franchises sustain pricing power even during volume-soft macro environments.
Asset-light operating structure minimizes maintenance capital intensity
FY2025 capex of $68.8M was less than 60% of annual depreciation of $117.7M, and well below the industry capex-to-depreciation benchmark of 0.68.
Low fixed-capital intensity shields earnings from operating leverage traps during downcycles and maximizes equity compounding.
Dover CorporationDOV
السعر / القيمة العادلة
القيمة العادلة162.66 US$Report-date price190.17 US$
تاريخ التقييم
الميزة التنافسيةNarrow
بطاقة تقييم الاستثمار64 / 100
Ingersoll Rand Inc.IR
السعر / القيمة العادلة
القيمة العادلة61.46 US$Report-date price77.78 US$
تاريخ التقييم
الميزة التنافسيةNarrow
بطاقة تقييم الاستثمار61 / 100
الهامش
PNR
Pentair plc
$8.4B
10.7x
2.1x
9.7x
17.1%
—
GNRC
Generac Holdings Inc.
$11.7B
15.3x
2.6x
20.2x
9.5%
17.9%
XYL
Xylem Inc.
$24.0B
16.5x
2.6x
13.2x
9.2%
17.0%
DOV
Dover Corporation
$26.0B
16.6x
3.1x
14.4x
14.9%
18.7%
IR
Ingersoll Rand Inc.
$30.2B
19.9x
3.8x
16.9x
9.5%
16.9%
Tightening environmental regulations and municipal wastewater standards drive recurring demand for specialized fluid motion and ultrafiltration systems across Water Solutions ($1,062.1M revenue in FY2025).
Residential Housing Remodel Sensitivity to Interest Rates
negative
Elevated mortgage rates and sluggish existing home turnover dampen new swimming pool construction and discretionary backyard renovations, prolonging volume softness in new-build channels.
