Select Water Solutions, Inc.

Select Water Solutions, Inc. reported total revenue of $1.41 billion for fiscal year 2025, generating gross profit of $202.4 million and net income attributable to the company of $21.2 million. The company's operating income was $28.8 million, with significant non-operating items including a $14.9 million remeasurement gain on business combination and $10.3 million gain on sales of property and equipment. Cash flow from operations was strong at $214.7 million, though this was offset by substantial investing activities of $405.0 million used primarily for property and equipment purchases ($294.6 million), acquisitions ($53.6 million), and equity-method investments ($72.1 million). The company maintained a solid balance sheet with total assets of $1.60 billion, total liabilities of $668.5 million, and total equity of $927.1 million. The company's liquidity position shows $18.1 million in cash and cash equivalents with $354.4 million in total current assets against $225.7 million in current liabilities.

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