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Operating Margin by Segment
Shows profitability across different business segments, highlighting which areas are most efficient and contribute most to the bottom line.Margins improved across MCS and WSS from 2023 into late‑2025—evidence management’s cost actions, targeted M&A and large WSS contract are lifting profitability—but Q1 2026 shows a sharp reset (notably in Water Infrastructure) driven by China softness, treatment “walk‑aways” and timing. Management expects margin expansion into H2 and a post‑divestiture MCS exit margin north of 25%, so treat Q1 as transitional noise: upside tied to backlog conversion and the MCS divestiture, downside if China weakness or timing issues persist.
Date | Water Infrastructure | Applied Water | Measurement and Control Solutions | Water Solutions and Services |
|---|---|---|---|---|
Jun 30, 2026 | 23.00 | 20.00 | 12.40 | 14.10 |
Mar 31, 2026 | 12.60 | 17.20 | 11.22 | 9.90 |
Dec 31, 2025 | 22.20 | 14.90 | 10.50 | 12.80 |
Sep 30, 2025 | 17.20 | 18.60 | 12.30 | 15.50 |
Jun 30, 2025 | 15.80 | 17.40 | 12.60 | 12.40 |
Mar 31, 2025 | 13.80 | 16.60 | 11.40 | 7.80 |
Dec 31, 2024 | 16.80 | 15.00 | 6.80 | 9.70 |
Sep 30, 2024 | 15.40 | 15.90 | 14.40 | 10.90 |
Jun 30, 2024 | 12.40 | 15.60 | 16.40 | 7.80 |
Mar 31, 2024 | 10.50 | 14.00 | 15.20 | 8.90 |