Xylem (XYL) 10-K Summary — Year Ended Dec 31, 2023
Xylem Inc. is a global water technology company that designs and services products across the water cycle. In the latest period, revenue grew, operating income increased, and cash from operations rose.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Xylem Inc. is a global water technology company that designs and services products across the water cycle. In the latest period, revenue grew, operating income increased, and cash from operations rose.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$7.4B
Revenue reported for the fiscal year.
Operating income
$652M
Income from operations reported for the year.
Net income
$609M
Net income reported for the year.
Operating cash flow
$837M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $5.2B | n/a |
| Dec 31, 2022 | $5.5B | +6.3% |
| Dec 31, 2023 | $7.4B | +33.4% |
Business overview
Xylem provides highly engineered products and solutions for water applications including transport, treatment, measurement, and digital software for utilities and industrial processes. The company serves customers in many countries through direct sales and channel partners, supported by market-leading brands and a large global installed base that generates recurring revenue.
Financial performance
Revenue increased compared to the prior period, driven by business growth. Operating income and net income both rose. Cash provided by operating activities also increased, reflecting higher cash earnings and improved working capital management.
Material risks
The filing notes that forward-looking statements involve uncertainties and that actual results could differ. The company faces risks related to acquisitions, such as the integration of Evoqua, as well as foreign exchange impacts from currency fluctuations. Market conditions and operational factors may also affect performance.
Liquidity and capital
Operating cash flow provided sufficient liquidity, while investing activities used cash primarily for an acquisition, capital expenditures, and equity investments. Financing activities used less cash compared to the prior year.
What to watch
Readers should monitor the integration progress and financial contribution of the Evoqua acquisition in the next filing.