滋养新经济 驾驭人工智能革命的影响 2026 年 1 月 前言 马修・派恩（ Matthew Pine ） 赛莱默总裁兼首席执行官 人工智能超级周期的发展速度超越了历史上任何一次工业变革。它正在重塑 一块芯片、每一个数据中心、每兆瓦电力，都依赖稳定的清洁水供应。 经济格局，重新定义竞争力。但这场人工智能革命存在一个隐藏的脆弱点：每 直到最近，关于人工智能的讨论仍聚焦于能源、原材料等常见制约因素。如今，行业、社区和政策制 定者逐渐意识到，在这个本就面临水资源压力的世界里，人工智能带来了新的影响。然而，由于缺 乏相关数据和对人工智能的深入了解，解决方案的探索进程受阻。《滋养新经济》报告提供了一个 基于事实的战略框架，助力人们理解其中的挑战与机遇。 本报告梳理了人工智能对全球水资源供应造成的压力点 ⸺ 随着水资源日益稀缺，工业与社区可 能会为争夺水资源产生竞争。更为重要的是，报告指出了能够实现双重目标的路径：既保障社区获 得经济实惠、安全健康的水资源，又维护人工智能经济带来的创新红利。 选择至关重要。若管理不当，水资源需求可能会演变为人类与发展之间的零和博弈；若管理得当， 它将成为更大变革的催化剂：推动全球向更高水 ...

Xylem Inc. (NYSE:XYL) is one of the best manufacturing stocks to invest in now. On February 10, Xylem Inc. (NYSE:XYL) reiterated the impact of its underlying transformation, as reflected by record full-year revenue, adjusted EBITDA margin, and adjusted earnings per share. Likewise, the company expects resilient underlying demand as it continues to simplify its product portfolio to deliver essential technologies. Xylem Inc. (XYL) Delivers Record Results, Eyes Growth Ahead The remarks follow solid fourth-q ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-35229 Xylem Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) ...

Financial Performance - The company reported a total revenue of $9.035 billion for the fiscal year 2025, representing a year-over-year growth of 5.51% [1] - Net profit for the fiscal year reached $957 million, reflecting a 7.53% increase compared to the previous year [1] - In Q4 2025, revenue was $2.397 billion, with a year-over-year growth of 6.16%, and net profit was $335 million [1] Market Reaction - Following the earnings report, the stock price fell by 8.04% to $128.92, marking a 60-day low [1] - Trading volume increased significantly to $632 million, a rise of 51.54% compared to the previous day [1] - Concerns were raised regarding the slowdown in revenue growth, with 2025 growth at 5.51% compared to 16% in 2024 [1] Business Developments - All four business segments (water infrastructure, application water, etc.) achieved revenue growth, with the measurement and control solutions segment seeing an organic order growth of 11% [2] - The backlog of orders increased to approximately $5 billion [2] - The company generated $1.241 billion in operating cash flow and $873 million in free cash flow for the year [2] - A quarterly dividend of $0.40 per share was announced, with an annual payout of $1.60 and a dividend payout ratio of 40.82% [2] Industry Outlook - Management expects revenue growth in the mid-single digits for 2026, with adjusted EBITDA margin guidance raised to 21.3%-21.8% [3] - There is strong global demand for water infrastructure, with a focus on smart metering and sustainable solutions [3] - External factors include a 0.59% decline in the Nasdaq index on the same day, contributing to individual stock pressure, and ongoing challenges in demand and cost control within the water technology industry [3]

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Core Insights - Xylem Inc. is a global water technology company that provides solutions for water transport, treatment, testing, and management across over 150 countries [1] Segment Overview - The company operates through four reportable segments: - Water Infrastructure, which serves municipalities - Applied Water, which caters to commercial, residential, and industrial customers [1]

Core Viewpoint - Xylem Inc, a leading global water technology company, is facing challenges despite reporting strong quarterly earnings, with revised forecasts falling short of market expectations [2][3][4]. Financial Performance - Xylem reported fourth-quarter earnings per share of $1.42, slightly above the consensus estimate of $1.41 [2][6]. - Quarterly sales reached $2.397 billion, surpassing the expected $2.374 billion [3][6]. - The company's forecast for fiscal year 2026 adjusted earnings per share is between $5.35 and $5.56, below market estimates of $5.56 [3]. - Xylem anticipates sales between $9.1 billion and $9.2 billion, falling short of the expected $9.331 billion [3]. Market Reaction - Following the earnings report, Xylem's shares fell by 2.1% to $126.24 [4][6]. - Goldman Sachs set a revised price target of $158 for Xylem, down from a previous target of $175, indicating a potential increase of about 24.64% from the current stock price of $126.77 [2][6]. Stock Performance - Currently, Xylem is trading at $126.77, reflecting a decrease of 1.67% or $2.15 [5]. - The stock has fluctuated between $125.92 and $131.73 on the day, with a yearly high of $154.27 and a low of $100.47 [5]. - The company's market capitalization is approximately $30.86 billion, with a trading volume of 2,951,416 shares on the NYSE [5].

Core Viewpoint - Xylem (XYL.US) reported solid performance in Q4 and for the full fiscal year 2025, maintaining a positive outlook for 2026 [1] Financial Performance - Full-year revenue reached $9.035 billion, a year-over-year increase of 5.51%; Q4 revenue was $2.397 billion, up 6.16% year-over-year [2] - Full-year net income attributable to shareholders was $0.957 billion, reflecting a 7.53% year-over-year growth; Q4 net income was $0.335 billion, with a net profit margin of 13.98% [2] - Adjusted earnings per share were $3.92 for the full year and $1.37 for Q4, both showing year-over-year improvements [2] Operational Metrics - The full-year gross margin was 38.46%, while the operating profit margin for Q4 improved to 14.68% [3] - The company offset some cost pressures through productivity optimization and price management, raising the adjusted EBITDA margin guidance to 21.3%-21.8% for the year [3] Business Development - All four business segments (Water Infrastructure, Applied Water, Measurement & Control Solutions, Water Solutions & Services) achieved revenue growth [4] - The North American market performed particularly well, with a 11% organic growth in the Measurement & Control Solutions segment, increasing backlog orders to approximately $5 billion [4] Cash Flow and Dividends - Full-year operating cash flow was $1.241 billion, with free cash flow at $0.873 billion [5] - The board declared a quarterly dividend of $0.40 per share, totaling $1.60 for the year, with a payout ratio of 40.82% [5] Future Outlook - The company anticipates continued mid-single-digit revenue growth in 2026, aiming to further optimize profit margins through operational model transformation (e.g., 80/20 strategy) [6] - Management emphasized strong global demand for water infrastructure, particularly in smart metering and sustainable water solutions [6]

Core Viewpoint - Xylem Inc reported strong fourth-quarter earnings, exceeding analyst expectations in both earnings per share and sales figures [1][2] Financial Performance - The company posted quarterly earnings of $1.42 per share, surpassing the analyst consensus estimate of $1.41 per share [1] - Quarterly sales reached $2.397 billion, exceeding the analyst consensus estimate of $2.374 billion [1] - For FY2026, Xylem projects adjusted EPS between $5.35 and $5.56, slightly below market estimates of $5.56 [1] - The company anticipates sales of $9.100 billion to $9.200 billion, compared to expectations of $9.331 billion [1] Management Commentary - CEO Matthew Pine highlighted the strong fourth quarter as a culmination of solid execution and transformation within the company, noting record full-year revenue, adjusted EBITDA margin, and adjusted EPS [2] - Pine emphasized broad-based demand across major end markets and healthy organic revenue and orders growth as key drivers of momentum heading into 2026 [2] Stock Performance - Following the earnings announcement, Xylem shares experienced a decline of 2.1%, trading at $126.24 [2] Analyst Ratings and Price Targets - Barclays analyst William Grippin maintained an Overweight rating on Xylem but reduced the price target from $166 to $156 [4] - RBC Capital analyst Deane Dray also maintained an Outperform rating while lowering the price target from $176 to $162 [4]