Select Water Solutions, Inc. (WTTR) Stock

Select Water Solutions, Inc. (WTTR) is a Energy stock trading at $20.18 (as of 2026-07-24), with a market capitalization of $2.24B and a trailing P/E of 85.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Select Water Solutions, Inc. provides water management and chemical solutions through segments including water infrastructure, water services, and chemical technologies. Its services include infrastructure for water and waste treatment, field services such as water transfer and flowback/well testing, and logistics and chemicals used in hydraulic fracturing and related well operations.

Understand Select Water Solutions, Inc.: how it makes money

Select Water Solutions provides water management and chemical solutions for oil and gas operations, selling water infrastructure, water services (including transfer, flowback and well testing, fluids hauling, and containment), and chemical technologies.

The profit engine is converting produced water customers into contracted footprint (long-term dedication and right of first refusal acreage) and expanding disposal and recycling capacity, which then supports recurring water services and infrastructure activity.

Revenue by segment (latest quarter)
WaterSvc	$0.2B
WaterInfra	$0.1B
ChemTech	$0.1B

Business quality (Weak): Clear segment structure (Water Infrastructure, Water Services, Chemical Technologies) and a measurable operating footprint expansion theme, but profitability is modest (operating margin 4.9%) and results can be sensitive to produced water volumes and the pace of capacity buildout.

Valuation: At 109× earnings, WTTR trades 531% above the Petroleum & Natural Gas average (17×). Note: one-time items can distort reported P/E.

Bull case

Long-term footprint growth: Operational metrics track Additional Acres Contracted Under Long-Term Dedication, along with right of first refusal acreage, tying results to longer customer commitments.
Capacity-driven service potential: The company tracks anticipated disposal capacity added and recycling throughput capacity, which supports its water management and waste treatment operations.

Bear case

Modest profitability: With gross margin 17.8% and operating margin 4.9%, the business has limited room for cost increases or utilization changes.
Dependence on water demand and expansion execution: Many operating metrics are related to produced water volumes and capacity additions, so slower-than-planned volume or project timing could reduce utilization.

Valuation — source: SEC EDGAR (first-party)
Price	$20.18
Market Cap	$2.24B
P/E Ratio	85.7
EV / EBITDA	66.1
Price / Book	2.00
Price / Sales	1.60
Dividend Yield	1.5%
FCF Yield	-4.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.41B
Net Margin	1.5%
Return on Equity	1.9%
Debt / Equity	0.22
Current Ratio	1.92
Revenue Growth (YoY)	-2.3%
FCF Growth (YoY)	27.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.88 (grey)

Valuation vs Sector & Industry
Stock P/E	85.7
Sector P/E (Energy)	19.0
Industry P/E (Petroleum & Natural Gas)	19.0
vs Sector	350.2%
vs Industry	351.6%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	FRANKLIN RESOURCES INC ($166.35M)
Institutional Holders Tracked	10

Company
Sector	Energy
Industry	Petroleum & Natural Gas
CEO	John D. Schmitz
Employees	3,700
Country	US
IPO Date	2017-06-26

Related Companies (Business model: Engineering & Construction Services; 8 closest by market cap; US-domiciled)

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.