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Select Water Solutions
🏹 Trader: 🎯 Near 52W High | BRS 65 Forming View all →
$2.0B
Market Cap
52.0
P/E
1.87
PEG
3.4%
ROCE
2.3%
ROE
0.38
D/E
2.8%
OPM
-13.3%
% from 52W High
90
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for WTTR including FX impact
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📈 Price History
Ratio Health
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About

Select Water Solutions, Inc. provides water management solutions to the energy industry in the United States.

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📈 Growth Pattern
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⭐ Superinvestors Holding WTTR
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 403.5K $6.2M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED Select Water Solutions posts record Infrastructure revenue of $97M and Adjusted EBITDA of $77.6M.
Revenue & Profitability
Consolidated revenue increased by $19.5 million sequentially, net income rose by $11.5 million, and Adjusted EBITDA reached $77.6 million, significantly above guidance. Water Infrastructure revenue grew 19% sequentially and 33% year-over-year. Chemical Technology revenue was in line with expectations, while Water Services revenue grew 7% sequentially. D&A expense is expected to remain steady at $47-$50 million in Q2 before increasing to the low $50s later in the year.
Outlook
Management notes that recent geopolitical tensions in the Middle East have changed the commodity outlook, but they have not yet seen major behavioral changes from customers. The company expects to benefit from higher skim oil pricing in its Water Infrastructure segment. They are monitoring for potential pull-forward of completion activity and are well-positioned to support any uplift in demand. Natural gas takeaway concerns in the Permian are not currently affecting customer programs.
Growth Drivers
Key growth drivers are the Water Infrastructure segment, for which full-year guidance was raised to 25%-30% year-over-year growth, and the Chemical Technology segment, which is expected to see strong double-digit revenue growth in Q2 driven by friction reducers and specialty surfactants. New contracts added in Q1 include 3 new minimum volume commitments (MVCs), 2 acreage dedications, 2 ROFR dedications, and 8 interruptible agreements across the Permian, Northeast, Bakken, and MidCon regions.
Balance Sheet & CapEx
First quarter CapEx was $78 million, primarily supporting infrastructure projects. Full-year net CapEx guidance was raised to $200-$250 million (from $175-$225 million), with $50-$60 million earmarked for maintenance and margin improvement. Post-quarter, the company closed on multiple acquisitions totaling approximately $29 million, which add disposal capacity, water rights, and storage in the Northern Delaware Basin.
Margins
Consolidated gross margins before D&A exceeded 30% for the first time, a new all-time high, driven by Water Infrastructure margins of 56%. Water Services gross margins improved to 21.8% (from 19.6% in Q4 2025), and chemical margins are expected to move into the 20%-21% range in Q2. SG&A decreased 6% to $40.6 million, or 11% of revenue, reflecting cost reduction efforts. The company sees potential for further margin improvement as higher-margin specialty chemical sales grow.
Key Risks
Management flagged macro uncertainty from geopolitical tensions, which could affect commodity prices and activity levels. There are risks from potential supply chain disruptions and higher input costs. Accounts receivable created a short-term drag on operating cash flow, but management expects it to convert back to cash in the near term. The outlook for natural gas takeaway in the Permian is being monitored but not currently seen as a risk to programs.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Q2 2026 saw record revenue and profit in Water Infrastructure and Chemical Technologies, with consolidated revenue up 8% and adjusted EBITDA up 19% sequentially. Major new contracts, asset acquisitions, and strong demand for surfactants and water management solutions support double-digit growth outlook into 2027.
Q1 2026 Q1 2026 2026-05-06
Q1 2026 saw record revenue, margins, and EBITDA, driven by strong Water Infrastructure and new contracts. Guidance was raised for full-year growth, with increased CapEx and a focus on free cash flow and strategic acquisitions. Liquidity and balance sheet flexibility improved after an equity raise.
Q4 2025 Q4 2025 2026-02-18
Record 2025 results driven by water infrastructure and chemical technology growth, with 2026 guidance calling for 20%-25% segment growth and strong margin outlook. Strategic asset additions, new royalty streams, and beneficial reuse pilots position the business for long-term cash flow and diversification.
Q3 2025 Q3 2025 2025-11-05
Advanced infrastructure and contract wins drove strong margin performance in Water Infrastructure and Chemical Technologies, despite industry headwinds. Guidance calls for double-digit growth in 2026, with continued focus on recycling, mineral extraction, and disciplined capital allocation.
Q2 2025 Q2 2025 2025-08-06
Q2 2025 saw strong sequential growth in net income and adjusted EBITDA, driven by robust water infrastructure performance and new long-term contracts. Asset rationalization, including the OMNI transaction and Peak Rentals carve-out, improved margins and streamlined operations. Water infrastructure is set for 20% growth in 2026.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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