PNRHIGH SIGNALFINANCIAL10-K

Pentair's stockholders equity plummeted 23.5% from $6.1B to $4.7B while simultaneously increasing share buybacks by 50% to $225M, indicating significant capital destruction.

The dramatic decline in stockholders equity of nearly $1.4 billion represents a material erosion of shareholder value that far exceeds what would be expected from normal share repurchases or dividend payments. This substantial equity reduction, combined with increased buyback activity, suggests either major one-time charges, impairments, or poor operational performance that investors need to investigate immediately.

Comparing 2026-02-24 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

Pentair's financial position shows concerning deterioration with stockholders equity dropping a substantial 23.5% to $4.7B, while the company paradoxically increased share buybacks by 50% to $225M. Cash and equivalents grew modestly by 11% to $82.5M, but this small positive is vastly overshadowed by the equity destruction. The combination of aggressive share repurchases amid massive equity decline suggests either significant non-cash charges or fundamental business deterioration that demands immediate investor attention.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+50%
$150.0M→$225.0M

Share repurchases increased 50% — management returning capital, signals confidence in intrinsic value.

Stockholders Equity
Balance Sheet
-23.5%
$6.1B→$4.7B

Equity decreased 23.5% — buybacks or losses reducing book value, monitor solvency ratios.

Cash & Equivalents
Balance Sheet
+11%
$74.3M→$82.5M

Cash grew 11% — improving liquidity position supports investment and shareholder returns.

LANGUAGE CHANGES
NEW — 2026-02-24
PRIOR — 2025-02-25
ADDED
From our residential and commercial water solutions to industrial water managemen t and everything in between, Pentair is an S P 500 company focused on smart, sustainable water solutions that help our planet and people thrive.
On September 17, 2025, as part of our Flow reportable segment, we completed the acquisition of Hydra-Stop, LLC ( Hydra-Stop ) for $292.1 million in cash, net of cash acquired, and subject to customary adjustments.
Hydra-Stop manufactures specialty insertion valves, line stop fittings and installation equipment.
In December 2024, as part of our Pool reportable segment, we completed the acquisition of G F Manufacturing, LLC ( G F Manufacturing ) for $116.0 million in cash, net of cash acquired.
The discussions below refer to the Company s reportable segment composition and business activities as of and prior to December 31, 2025.
Effective January 1, 2026, we reorganized the composition of our Flow and Water Solutions reportable segments to move our residential and irrigation flow business from our Flow segment to our Water Solutions segment.
For further detail on the changes to the Flow and Water Solutions segments as a result of the revised segmentation effective January 1, 2026, refer to the discussion titled 2026 Segment Structure below.
Additional information regarding this revised segmentation is found under the section titled 2026 Revised Segmentation.
2026 Segment Structure Effective January 1, 2026, we moved our residential and irrigation flow business from our Flow segment to our Water Solutions segment.
As a result, the products previously within the residential and irrigation flow business are now part of the Water Solutions reportable segment.
REMOVED
From our residential and commercial water solutions to industrial water managemen t and everything in between, Pentair is focused on smart, sustainable water solutions that help our planet and people thrive.
On December 2, 2024, as part of our Pool reportable segment, we completed the acquisition of G F Manufacturing, LLC ( G F Manufacturing ) for $116.0 million in cash, net of cash acquired and subject to customary adjustments.
The following is a brief description of each of the Company s reportable segments and business activities.
In addition, our water solutions business also provides installation and preventative services for water management solutions for commercial operators.
In addition, our commercial business also provides installation and preventative services for water management solutions for commercial operators.
Customers also include end users, consumers, commercial operators and original equipment manufacturers.
One customer in the Pool business represented approximately 15% of our consolidated net sales in both 2024 and 2023.
INFORMATION REGARDING ALL REPORTABLE SEGMENTS Research and development We conduct research and development activities primarily in our own facilities.
Prices for raw materials, such as metals, may trend higher in the near future due to the volatile market trends.
As of December 31, 2024, we had approximately 9,750 employees worldwide, of which approximately 50% are located in the U.S.
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