Does ZURN ELKAY WATER SOLUTIONS CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores ZURN ELKAY WATER SOLUTIONS CORPORATION (ZWS) 51.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 34, balance-sheet safety 65, capital discipline 53.

How has ZWS's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 51.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

ZURN ELKAY WATER SOLUTIONS CORPORATION

ZWS · Industrials · $8.0B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power60

Median gross margin 39.6% over 10y, stable.

Returns on capital34

Median ROIC 8.7%, above the 9% hurdle in 50% of years.

Balance-sheet safety65

Net debt/EBITDA 0.7x, interest coverage 10x.

Capital discipline53

Owner earnings +10.0%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $47.73
Discount to value: No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

17 years of fundamentals

The business, in plain English

ZURN ELKAY WATER SOLUTIONS CORPORATION booked $1.7B of revenue in FY2025 in the Industrials sector and kept 45.1% of it as gross profit — a solid-margin business by that measure. After every other cost, 11.7% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $1.5B (FY2010) to $1.7B (FY2025) — about 0.8% a year compounded over 15 years.

It earned 11.6% on invested capital in FY2025, with a median of 9.4% across 15 filed years. The Returns on Capital filter above scores it 34/100.

The balance sheet carried $496.5M of total debt in FY2025. Balance-Sheet Safety scores it 65/100.

The share count rose 146.9% between FY2012 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 53/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (65/100) and Returns on Capital the weakest (34/100), which is how ZWS lands at 52/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$1.7B FY2025

Gross marginRevenue kept after cost of goods45.1% FY2025

Return on invested capitalOperating profit on the capital employed11.6% FY2025

Owner earningsCash an owner could take out$191.9M FY2020

Gaps in a line mean that item isn’t in ZWS’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale51.7 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — ZWS has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Industrials context

#102 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#100GLGI GREYSTONE LOGISTICS, INC.51.8 out of 100, Shallow moatShallow moat
#101BCO BRINK’S CO51.7 out of 100, Shallow moatShallow moat
#103ACU ACME UNITED CORP51.2 out of 100, Shallow moatShallow moat
#104CENT Central Garden & Pet Company51.2 out of 100, Shallow moatShallow moat

Compare ZWS with its nearest peers →All Industrials companies on the Index →

Common questions about ZWS

Does ZURN ELKAY WATER SOLUTIONS CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores ZURN ELKAY WATER SOLUTIONS CORPORATION (ZWS) 51.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 34, balance-sheet safety 65, capital discipline 53.
How has ZWS's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 51.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Embed this score on your site

One iframe, no script. The badge shows ZWS’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/ZWS"
  width="340" height="150" style="border:0"
  title="ZWS Moat Score — The Moat Index"
  loading="lazy"></iframe>

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ZWS. See the disclaimer.