Select Water Solutions Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Select Water Solutions Inc reported revenue of $1.4B (-3.1% year on year) and net income of $21.5M (-39.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenue | $1.4B | $1.5B | $1.6B | $1.4B |
| Costs of revenue | $1.0B | $1.1B | $1.2B | $1.1B |
| Depreciation, amortization and accretion | $174.5M | $153.5M | — | — |
| Total costs of revenue | $1.2B | $1.2B | $1.4B | $1.2B |
| Gross profit | $202.4M | $219.5M | $231.7M | $160.8M |
| Selling, general and administrative | $161.3M | $160.0M | $155.5M | $118.9M |
| Depreciation and amortization | $5.3M | $3.4M | $138.8M | $113.5M |
| Impairments and abandonments | $6.2M | $1.2M | $12.6M | — |
| Lease abandonment costs | $734.0K | $358.0K | $42.0K | $449.0K |
| Total operating expenses | $173.6M | $165.0M | $170.5M | $121.6M |
| Income from operations | $28.8M | $54.5M | $61.2M | $39.2M |
| Gain (loss) on sales of property and equipment and divestitures, net | $10.3M | $3.3M | ($210.0K) | $2.2M |
| Interest expense, net | ($23.2M) | ($7.0M) | ($4.4M) | ($2.7M) |
| Remeasurement gain on business combination | $14.9M | — | — | — |
| Tax receivable agreements expense | ($5.0M) | ($836.0K) | ($38.2M) | — |
| Other | ($1.1M) | ($573.0K) | $2.4M | $4.7M |
| Income before income tax benefit (expense) and equity in losses of unconsolidated entities | $24.8M | $49.4M | $20.8M | $56.7M |
| Income tax benefit (expense) | $1.6M | ($13.6M) | $60.2M | ($957.0K) |
| Equity in losses of unconsolidated entities | ($4.9M) | ($352.0K) | ($1.8M) | ($913.0K) |
| Net income | $21.5M | $35.5M | $79.2M | $54.9M |
| Less: net income attributable to noncontrolling interests | ($244.0K) | ($4.8M) | ($4.8M) | ($6.6M) |
| Net income attributable to Select Water Solutions, Inc. | $21.2M | $30.6M | $74.4M | $48.3M |
| Basic | $0.21 | $0.31 | $0.73 | $0.51 |
| Diluted | $0.21 | $0.30 | $0.72 | $0.50 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total revenue | $395.8M | $366.0M | $322.2M | $364.2M |
| Costs of revenue | $271.7M | $254.9M | $235.1M | $265.4M |
| Depreciation, amortization and accretion | $47.2M | $45.7M | $43.6M | $41.1M |
| Total costs of revenue | $319.0M | $300.7M | $278.7M | $306.5M |
| Gross profit | $76.8M | $65.3M | $43.6M | $57.8M |
| Selling, general and administrative | $41.2M | $40.6M | $41.7M | $38.9M |
| Depreciation and amortization | $1.2M | $1.1M | $1.3M | $1.9M |
| Impairments and abandonments | $239.0K | $5.7M | $2.3M | $1.5M |
| Lease abandonment costs | ($129.0K) | ($68.0K) | $63.0K | ($2.0K) |
| Total operating expenses | $42.5M | $47.3M | $45.3M | $42.3M |
| Income from operations | $34.3M | $18.0M | ($1.8M) | $15.4M |
| Gain on sales of property and equipment and divestitures, net | $164.0K | $405.0K | $2.6M | $6.5M |
| Interest expense, net | ($5.0M) | ($5.9M) | ($6.0M) | ($5.6M) |
| Other | $5.0K | ($311.0K) | ($2.3M) | $92.0K |
| Income before income tax expense and equity in losses of unconsolidated entities | $29.5M | $12.2M | $7.5M | $16.4M |
| Income tax expense | ($6.4M) | ($2.4M) | ($434.0K) | ($4.5M) |
| Equity in losses of unconsolidated entities | ($570.0K) | ($290.0K) | ($4.8M) | ($183.0K) |
| Net income | $22.6M | $9.4M | $2.3M | $11.7M |
| Less: net income attributable to noncontrolling interests | ($1.5M) | ($826.0K) | $389.0K | ($1.0M) |
| Net income attributable to Select Water Solutions, Inc. | $21.0M | $8.6M | $2.7M | $10.6M |
| Basic | $0.17 | $0.08 | $0.03 | $0.10 |
| Diluted | $0.17 | $0.08 | $0.03 | $0.10 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $18.1M | $20.0M | $57.1M | $7.3M |
| Accounts receivable | $264.0M | $281.7M | $322.8M | $430.0M |
| Inventories | $34.3M | $38.4M | $38.7M | $41.2M |
| Prepaid expenses and other current assets | $38.0M | $45.4M | $35.5M | $34.4M |
| Total current assets | $354.4M | $385.5M | $454.1M | $517.9M |
| Property and equipment | $1.6B | $1.4B | $1.1B | $1.1B |
| Accumulated depreciation | ($717.2M) | ($679.8M) | ($627.4M) | ($584.5M) |
| Total property and equipment, net | $912.2M | $725.7M | $517.6M | $499.6M |
| Right-of-use assets, net | $28.7M | $36.9M | $39.5M | $47.7M |
| Goodwill | $48.5M | $18.2M | $4.7M | — |
| Other intangible assets, net | $106.2M | $123.7M | $116.2M | $138.8M |
| Deferred tax assets, net | $48.9M | $46.3M | $61.6M | — |
| Investments in unconsolidated entities | $78.2M | — | — | — |
| Other long-term assets | $18.5M | $30.0M | $24.6M | $18.9M |
| Total assets | $1.6B | $1.4B | $1.2B | $1.2B |
| Accounts payable | $49.7M | $39.2M | $42.6M | $61.5M |
| Accrued accounts payable | $46.3M | $76.2M | $66.2M | $67.5M |
| Accounts payable and accrued expenses, related parties | $3.6M | $4.4M | $4.1M | $3.3M |
| Accrued salaries and benefits | $17.7M | $29.9M | $28.4M | $28.7M |
| Accrued insurance | $22.3M | $24.7M | $19.7M | $26.2M |
| Sales tax payable | $2.4M | $2.1M | $1.4M | $3.1M |
| Accrued expenses and other current liabilities | $37.5M | $40.1M | $33.5M | $23.3M |
| Current operating lease liabilities | $14.2M | $16.4M | $15.0M | $17.8M |
| Current portion of long-term debt | $31.3M | — | — | — |
| Current portion of finance lease obligations | $650.0K | $211.0K | $194.0K | $19.0K |
| Total current liabilities | $225.7M | $233.4M | $211.5M | $231.3M |
| Long-term tax receivable agreements liabilities | $43.4M | $38.4M | $37.7M | — |
| Long-term operating lease liabilities | $21.5M | $31.1M | $37.8M | $46.4M |
| Long-term debt, net | $285.0M | $85.0M | — | $16.0M |
| Other long-term liabilities | $92.9M | $62.9M | $39.0M | $45.4M |
| Total liabilities | $668.5M | $450.7M | $326.0M | $339.1M |
| Common stock | $1.2M | $1.2M | $1.2M | $1.3M |
| Additional paid-in capital | $989.3M | $998.5M | $1.0B | $1.1B |
| Accumulated deficit | ($184.9M) | ($206.1M) | ($236.8M) | ($311.2M) |
| Total stockholders' equity | $805.6M | $793.5M | $772.5M | $766.0M |
| Noncontrolling interests | $121.5M | $122.0M | $119.7M | $117.8M |
| Total equity | $927.1M | $915.5M | $892.2M | $883.7M |
| Total liabilities and equity | $1.6B | $1.4B | $1.2B | $1.2B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $33.4M | $56.0M | $17.8M | $51.2M |
| Accounts receivable | $319.9M | $317.8M | $277.0M | $309.3M |
| Inventories | $48.0M | $37.3M | $38.0M | $41.7M |
| Prepaid expenses and other current assets | $34.8M | $33.4M | $47.5M | $37.3M |
| Total current assets | $436.1M | $444.4M | $380.3M | $439.4M |
| Property and equipment | $1.8B | $1.7B | $1.6B | $1.5B |
| Accumulated depreciation | ($770.4M) | ($736.9M) | ($693.7M) | ($672.7M) |
| Total property and equipment, net | $1.0B | $936.0M | $887.4M | $800.4M |
| Right-of-use assets, net | $28.8M | $32.2M | $28.4M | $31.1M |
| Goodwill | $48.5M | $48.5M | $45.1M | $18.2M |
| Other intangible assets, net | $108.0M | $102.0M | $110.6M | $115.0M |
| Deferred tax assets, net | $45.8M | $48.3M | $38.8M | $39.4M |
| Investments in unconsolidated entities | $77.1M | $77.7M | $78.4M | $83.3M |
| Other long-term assets | $17.1M | $17.7M | $19.2M | $19.8M |
| Total assets | $1.8B | $1.7B | $1.6B | $1.5B |
| Accounts payable | $63.3M | $55.1M | $54.7M | $47.7M |
| Accrued accounts payable | $49.3M | $36.8M | $53.8M | $74.0M |
| Accounts payable and accrued expenses, related parties | $3.4M | $3.6M | $3.9M | $5.6M |
| Accrued salaries and benefits | $26.5M | $15.8M | $21.0M | $24.5M |
| Accrued insurance | $16.7M | $18.7M | $23.6M | $16.2M |
| Sales tax payable | $2.9M | $3.1M | $3.8M | $2.0M |
| Accrued expenses and other current liabilities | $39.0M | $36.6M | $40.7M | $33.0M |
| Current operating lease liabilities | $11.4M | $14.3M | $13.4M | $15.4M |
| Current portion of long-term debt | $63.1M | $46.9M | $15.6M | — |
| Current portion of finance lease obligations | $641.0K | $655.0K | $701.0K | $644.0K |
| Total current liabilities | $276.4M | $231.6M | $231.3M | $219.1M |
| Long-term tax receivable agreements liabilities | $50.1M | $43.4M | $38.4M | $38.4M |
| Long-term operating lease liabilities | $20.4M | $23.7M | $23.3M | $25.0M |
| Long-term debt, net | $196.4M | $199.6M | $285.4M | $270.8M |
| Other long-term liabilities | $106.9M | $88.9M | $78.0M | $70.1M |
| Total liabilities | $650.2M | $587.2M | $656.5M | $623.4M |
| Common stock | $1.4M | $1.4M | $1.2M | $1.2M |
| Additional paid-in capital | $1.2B | $1.2B | $991.5M | $985.3M |
| Accumulated deficit | ($155.3M) | ($176.3M) | ($184.6M) | ($187.3M) |
| Total stockholders' equity | $1.0B | $991.5M | $808.1M | $799.3M |
| Noncontrolling interests | $88.2M | $128.2M | $123.5M | $123.8M |
| Total equity | $1.1B | $1.1B | $931.7M | $923.1M |
| Total liabilities and equity | $1.8B | $1.7B | $1.6B | $1.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $21.5M | $35.5M | $79.2M | $54.9M |
| Depreciation, amortization and accretion | $179.8M | $156.9M | — | — |
| Deferred tax (benefit) expense | ($1.2M) | $12.5M | ($62.0M) | — |
| Tax receivable agreements expense | $5.0M | $836.0K | $38.2M | — |
| (Gain) loss on disposal of property and equipment and divestitures | ($10.3M) | ($3.3M) | $210.0K | ($2.2M) |
| Equity in losses of unconsolidated entities | $4.9M | $352.0K | $1.8M | $913.0K |
| Credit loss expense | $989.0K | $58.0K | $5.2M | $2.0M |
| Amortization and write off of debt issuance costs | $2.2M | — | — | — |
| Inventory adjustments | $75.0K | ($638.0K) | $2.3M | ($737.0K) |
| Equity-based compensation | $19.9M | $26.4M | $17.4M | $15.6M |
| Impairments and abandonments | $6.2M | $1.2M | $12.6M | — |
| Remeasurement gain on business combination | ($14.9M) | — | — | — |
| Other operating items, net | $2.4M | $1.1M | ($450.0K) | ($2.0M) |
| Accounts receivable | $16.1M | $46.9M | $102.3M | ($162.3M) |
| Prepaid expenses and other assets | $11.8M | ($14.6M) | ($6.7M) | $1.3M |
| Accounts payable and accrued liabilities | ($29.8M) | ($28.8M) | ($46.3M) | $22.8M |
| Net cash provided by operating activities | $214.7M | $234.9M | $285.4M | $33.2M |
| Purchase of property and equipment | ($294.6M) | ($173.2M) | ($135.9M) | ($71.9M) |
| Purchase of equity-method investment | ($72.1M) | — | ($500.0K) | ($7.7M) |
| Acquisitions, net of cash received | ($53.6M) | ($161.3M) | ($17.7M) | ($7.0M) |
| Proceeds received from sales of property and equipment | $15.3M | $15.8M | $16.9M | $31.3M |
| Net cash used in investing activities | ($405.0M) | ($318.6M) | ($137.2M) | ($53.2M) |
| Borrowings from revolving line of credit | $131.5M | $165.0M | $105.3M | $143.0M |
| Payments on revolving line of credit | ($146.5M) | ($80.0M) | ($121.3M) | ($127.0M) |
| Borrowings from long-term debt | $250.0M | — | — | — |
| Payments of finance lease obligations | ($601.0K) | ($231.0K) | ($98.0K) | ($112.0K) |
| Payment of debt issuance costs | ($7.9M) | — | — | ($2.1M) |
| Dividends and distributions paid | ($33.7M) | ($29.7M) | ($24.9M) | ($6.0M) |
| Payments under tax receivable agreements | ($77.0K) | ($521.0K) | — | — |
| Contributions from noncontrolling interests | $2.9M | — | $6.0M | — |
| Repurchase of common stock | ($7.3M) | ($7.9M) | ($61.8M) | ($20.2M) |
| Net cash provided by (used in) financing activities | $188.4M | $46.6M | ($98.4M) | ($58.5M) |
| Effect of exchange rate changes on cash | $6.0K | ($9.0K) | ($3.0K) | ($13.0K) |
| Net (decrease) increase in cash and cash equivalents | ($1.9M) | ($37.1M) | $49.8M | ($78.5M) |
| Cash and cash equivalents, beginning of period | $20.0M | $57.1M | $7.3M | $85.8M |
| Cash and cash equivalents, end of period | $18.1M | $20.0M | $57.1M | $7.3M |
| Cash paid for interest | $18.7M | $7.1M | $4.7M | $2.0M |
| Cash paid for income taxes, net | $642.0K | $1.8M | $1.7M | ($452.0K) |
| Lease liabilities arising from obtaining right-of-use assets | $7.6M | $12.6M | $7.6M | $14.8M |
| Issuance (recoupment) of shares for acquisitions | 7.7M | — | -410.0K | — |
| Assets and liabilities transferred in business combination | $20.8M | — | — | — |
| Property and equipment obtained by assuming liabilities | $9.5M | — | — | — |
| Capital expenditures included in accounts payable and accrued liabilities | $30.0M | $50.0M | $34.5M | $17.8M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $32.0M | $9.4M | $23.5M | $21.2M |
| Depreciation, amortization and accretion | $95.3M | $46.9M | $127.5M | $82.6M |
| Deferred tax expense | $8.8M | $2.4M | $7.6M | $7.0M |
| Gain on disposal of property and equipment and divestitures | ($569.0K) | ($405.0K) | ($10.5M) | ($7.9M) |
| Equity in losses of unconsolidated entities | $860.0K | $290.0K | $4.9M | $88.0K |
| Credit loss expense | $285.0K | $737.0K | $1.1M | $1.2M |
| Amortization and write off of debt issuance costs | $829.0K | $413.0K | $1.8M | $1.4M |
| Inventory adjustments | $137.0K | $98.0K | $52.0K | $20.0K |
| Equity-based compensation | $14.2M | $5.8M | $14.1M | $6.7M |
| Impairments and abandonments | $5.9M | $5.7M | $4.9M | $2.6M |
| Other operating items, net | $1.3M | $598.0K | $1.8M | $1.2M |
| Accounts receivable | ($56.2M) | ($54.5M) | $3.0M | ($28.8M) |
| Prepaid expenses and other assets | ($9.7M) | $2.1M | ($1.8M) | $4.1M |
| Accounts payable and accrued liabilities | $3.8M | ($9.3M) | ($13.8M) | ($13.9M) |
| Net cash provided by operating activities | $97.0M | $10.2M | $149.2M | $77.5M |
| Purchase of property and equipment | ($149.4M) | ($78.4M) | ($223.1M) | ($127.8M) |
| Equity-method and prefered stock investments | ($500.0K) | — | — | — |
| Acquisitions, net of cash received | ($42.2M) | ($210.0K) | ($52.3M) | ($17.2M) |
| Proceeds received from sales of property and equipment | $2.4M | $1.1M | $13.8M | $9.6M |
| Net cash used in investing activities | ($189.7M) | ($77.5M) | ($333.7M) | ($207.5M) |
| Borrowings from revolving line of credit | $43.5M | $43.5M | $105.0M | $65.0M |
| Payments on revolving line of credit | ($113.5M) | ($113.5M) | ($135.0M) | ($125.0M) |
| Borrowings from long-term debt | $13.0M | — | $250.0M | $250.0M |
| Payments on long-term debt | ($54.0K) | — | — | — |
| Payments of finance lease obligations | ($319.0K) | ($158.0K) | ($442.0K) | ($313.0K) |
| Payment of debt issuance costs | ($101.0K) | — | ($7.9M) | ($7.9M) |
| Net proceeds from underwritten offering | $191.6M | $191.7M | — | — |
| Dividends and distributions paid | ($18.3M) | ($8.8M) | ($25.3M) | ($16.9M) |
| Contributions from noncontrolling interests | $500.0K | — | $2.9M | $2.9M |
| Repurchase of common stock | ($8.2M) | ($7.6M) | ($6.9M) | ($6.6M) |
| Net cash provided by financing activities | $108.1M | $105.2M | $182.3M | $161.2M |
| Effect of exchange rate changes on cash | ($3.0K) | ($2.0K) | $5.0K | $9.0K |
| Net increase in cash and cash equivalents | $15.3M | $37.9M | ($2.1M) | $31.2M |
| Cash and cash equivalents, beginning of period | $18.1M | $18.1M | $20.0M | $20.0M |
| Cash and cash equivalents, end of period | $33.4M | $56.0M | $17.8M | $51.2M |
| Cash paid for interest | $14.4M | $6.5M | $12.5M | $10.2M |
| Cash (refunds) paid for income taxes, net | ($58.0K) | ($24.0K) | $1.4M | $1.4M |
| Property and equipment obtained through assumption of contract liabilties | $14.0M | — | — | — |
| Capital expenditures included in accounts payable and accrued liabilities | $35.6M | $23.3M | $41.1M | $50.3M |
Select Water Solutions Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.