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NYSE · Energy

Select Water Solutions, Inc. (WTTR)

As-reported financials and SEC filings for Select Water Solutions, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Select Water Solutions, Inc.

Select Water Solutions, Inc. provides water infrastructure and water services primarily to the oilfield industry. The company offers water treatment and reuse solutions, as well as oilfield chemicals, serving customers in regions such as the Permian Basin and other major U.S. shale plays.

Snapshot

Revenue
$1.41B
Revenue growth (YoY)
-3.1%
Net income
$21.2M
Diluted EPS
Gross margin
14.4%
Operating margin
2.0%
Net margin
1.5%
FCF margin
-5.7%
ROE
2.3%
net income / fiscal-year-end equity
P/E
69.2×
trailing when available, otherwise FY EPS
Market cap
$2.86B
Long-term debt / equity
0.31×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Select Water Solutions

  • Revenue fell 3.1% to $1.4B in FY2025, after a 8.4% decline the year before.
  • Operating margin turned positive at 2.0% in FY2025, from a 8.6% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $396M, up 8.7% from Q2 FY2025.
  • Free cash flow was negative $80M in FY2025.
  • Net income fell 30.7% to $21M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Select Water Solutions’s fundamentals sit among the 125 Energy companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin14.4%
31st percentile of 43
Operating margin2.0%
28th percentile of 104
Net margin1.5%
33rd percentile of 120
FCF margin-5.7%
13th percentile of 69
Revenue growth (YoY)-3.1%
40th percentile of 122
ROE2.3%
36th percentile of 100
P/E69.2×
94th percentile of 85
Long-term debt / equity0.31×
35th percentile of 83
Short interest2.17d
15th percentile of 123

Select Water Solutions’s P/E of 69.2 ranks in the 94th percentile of the 85 peers with a meaningful P/E. Select Water Solutions’s FCF margin of -5.7% ranks in the 13th percentile of the 69 Energy companies reporting it.

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+5 quant / multi-strat
Initiated / added
3
0 new, 3 added
Reduced / exited
3
2 trimmed, 1 exited
Combined position
$29.2M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$12.3M617.2KAdded
D. E. ShawquantQ2 2026$9.5M473.4KAdded
Renaissance TechnologiesquantQ2 2026$3.9M192.8KReduced
AQR Capital ManagementquantQ2 2026$2.8M139.5KAdded
Citadel AdvisorsquantQ2 2026$766,43338.4KReduced

No longer held by: Millennium Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
0
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-05-19
filed 2026-05-21
Crestview Partners II GP, L.P.10% ownerSell2.6M$18.92$49.8M
2026-05-19
filed 2026-05-21
Crestview Partners II GP, L.P.10% ownerSell617.2K$18.92$11.7M
2026-05-15
filed 2026-05-18
Burnett Richard AlanDirectorSell45.3K$18.74$849K
2026-05-14
filed 2026-05-18
Burnett Richard AlanDirectorSell19.7K$18.73$369K
2026-05-12
Skarke MichaelEVP & COOSell20.0K$17.78$356K
2026-05-11
filed 2026-05-12
Skarke MichaelEVP & COOSell90.0K$17.31$1.6M
2026-05-11
filed 2026-05-12
Szymanski BrianChief Accounting OfficerSell20.0K$17.04$341K
2026-05-08
Fielder Robin HDirectorSell27.0K$16.80$454K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
4.8M
settled 2026-08-14
Change vs prior
-11.8%
vs previous settlement
Days to cover
2.17
at avg daily volume
Avg daily volume
2.2M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-144.8M-11.8%2.17
2026-07-315.5M-6.1%3.24
2026-07-155.8M+0.1%3.54
2026-06-305.8M+43.0%2.40
2026-06-154.1M-8.5%3.09
2026-05-294.4M+10.4%2.35
2026-05-154.0M+0.2%2.03
2026-04-304.0M-21.1%1.59

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.41B$1.45B$1.59B$1.39B$764.6M
Gross profit$202.4M$219.5M$231.7M$160.8M$20.9M
Operating income$28.8M$54.5M$61.2M$39.2M$-65.5M
Net income$21.2M$30.6M$74.4M$48.3M$-42.2M
Diluted EPS

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$214.7M$234.9M$285.4M$33.2M$-16.2M
Capital expenditure$294.6M$173.2M$135.9M$71.9M$40.0M
Free cash flow$-79.9M$61.7M$149.5M$-38.7M$-56.2M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$395.8M8.7%$21.0M
Q1 FY2026$366.0M-2.3%$8.6M
Q4 FY2025$346.5M-0.7%$-346,000
Q3 FY2025$322.2M-13.2%$2.7M
Q2 FY2025$364.2M-0.3%$10.6M
Q1 FY2025$374.4M2.1%$8.2M
Q4 FY2024$349.0M-6.9%$-1.6M
Q3 FY2024$371.3M-4.6%$15.8M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorEnergy
SIC industryOil & Gas Field Services, NEC
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2016
SEC CIK1693256

Selected SEC filings

10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-06-01
View on EDGAR →
8-K2026-05-08
View on EDGAR →
8-K2026-05-05
View on EDGAR →

Largest Energy peers

All Energy companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.