{ "ok": true, "cik": "1693256", "ticker": "WTTR", "name": "SELECT WATER SOLUTIONS, INC.", "filings": [ { "form": "8-K", "filed": "2026-09-24", "items": [ "1.01 Entry into a Material Definitive Agreement", "3.02 Unregistered Sales of Equity Securities", "7.01 Regulation FD Disclosure", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1693256/000110465926110440/0001104659-26-110440-index.htm" }, { "form": "10-Q", "filed": "2026-08-05", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1693256/000110465926091156/0001104659-26-091156-index.htm" }, { "form": "8-K", "filed": "2026-08-04", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1693256/000114036126031155/0001140361-26-031155-index.htm" }, { "form": "8-K", "filed": "2026-06-01", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1693256/000114036126023584/0001140361-26-023584-index.htm" }, { "form": "8-K", "filed": "2026-05-08", "items": [ "5.07 Submission of Matters to a Vote of Security Holders", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1693256/000114036126020043/0001140361-26-020043-index.htm" }, { "form": "10-Q", "filed": "2026-05-06", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1693256/000110465926056298/0001104659-26-056298-index.htm" } ], "events12m": 11, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001693256.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1693256" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up SELECT WATER SOLUTIONS, INC. ($WTTR). Last filing: 8-K (1.01 Entry into a Material Definitive Agreement), 2026-09-24. 11 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 1407344000, "revenueGrowth1y": -0.030804882667906264, "revenueGrowthPerYear": 0.1647659146151601, "yearsOfData": 5, "operatingMargin": 0.02046834320535704, "operatingMarginPrior": 0.037524921233407366, "netMargin": 0.015253555633874873, "operatingCashFlow": 214673000, "capitalSpending": 294562000, "freeCashFlow": -79889000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 18084000, "longTermDebt": 320000000, "longTermDebtChange": 2.764705882352941, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 764620000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 1387420000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 1585353000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 1452075000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 1407344000 } ], "totalEquity": 805616000, "totalAssets": 1595612000, "equityRatio": 0.5048946736424644, "returnOnEquity": 0.026646690234553436, "dividendsPaid": 33655000, "payoutRatio": 1.5677551590813807, "dividendPerShare": 0.05, "dividendYearsRising": 0, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": null, "sharesOutstanding": null, "bookValuePerShare": null, "revenuePerShare": null, "range80": { "low": 961805001.4846164, "high": 1915450182.7890341, "baseline": 1389019823.304977, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.31006987442206974, "classVolatility": 0.07701947805587882, "volatility": 0.22591516884011806 }, "ifPaceHeld": { "low": 961805001.4846164, "high": 1915450182.7890341 } }, "edgarette": "🔖 Exposure: revenue $1.4B (FY2025), total debt $320.0M. Experience: revenue down 3.1% on the year, up 16.5% a year over 4 years; operating margin 2.0%, down from 3.8%. Soundness: equity 50.5% of assets, return on equity 2.7%, payout 156.8% of profit. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $961.8M and $1.9B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $747.9M to $2.5B. A range, not a forecast. Against peers (15 filers, $50M+ revenue, oil & gas field services, nec): operating margin 2.0% against a 5.0% median; growth -3.1% against -2.3%.", "peers": { "sic": 1389, "sicDescription": "Oil & Gas Field Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "1389", "growth": [ -0.0234, 16 ], "opMargin": [ 0.0504, 15 ], "equityRatio": [ 0.4904, 16 ], "returnOnEquity": [ 0.0469, 12 ] }, "summary": "Select Water Solutions, Inc. (WTTR) saw revenue fall 3.1% in FY2025 to $1.4 billion, operating margin 2.0% against a 5.0% median for oil & gas field services, nec, equity 50.5% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
SELECT WATER SOLUTIONS, INC. against its own record and its peers
Operating marginPeer median 5.0%2.0%Revenue, on the yearPeer median -2.3%-3.1%Equity of assetsPeer median 49.0%50.5%Return on equityPeer median 4.7%2.7%Payout of profit156.8%Gold tick: the median of 12–16 peers with $50M+ revenue in oil & gas field services, nec
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit120.0% paid outMore was paid out than was earned in the year.Handed back per share$0.05Growth its own profit can fund0.0%retained x return on equityRevenue growth it managed-3.1%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 7, "hits": 6, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-25T13:58:51.572Z", "hash": "98dacf268a2e27ad", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Select Water Solutions, Inc. (WTTR) saw revenue fall 3.1% in FY2025 to $1.4 billion, operating margin 2.0% against a 5.0% median for oil & gas field services, nec, equity 50.5% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 1407344000, "totalDebt": 320000000, "cash": 18084000 }, "experience": { "revenueGrowth1y": -0.030804882667906264, "revenueGrowthPerYear": 0.1647659146151601, "operatingMargin": 0.02046834320535704, "operatingMarginPrior": 0.037524921233407366, "netMargin": 0.015253555633874873, "freeCashFlow": -79889000 }, "soundness": { "equityRatio": 0.5048946736424644, "returnOnEquity": 0.026646690234553436, "payoutRatio": 1.5677551590813807, "dividendPerShare": 0.05, "dividendYearsRising": 0, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 1389, "sicDescription": "Oil & Gas Field Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "1389", "growth": [ -0.0234, 16 ], "opMargin": [ 0.0504, 15 ], "equityRatio": [ 0.4904, 16 ], "returnOnEquity": [ 0.0469, 12 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "range": { "low": 961805001.4846164, "high": 1915450182.7890341, "baseline": 1389019823.304977, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.31006987442206974, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.22591516884011806, "k": 3 }, "stress": { "low": 747863982.9389378, "high": 2464000466.715315, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 7, "hits": 6, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-25T13:58:51.572Z", "hash": "98dacf268a2e27ad", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001693256.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1693256" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }