Financial research concept

Water Infrastructure Adjusted EBITDA Margin

measures adjusted EBITDA as a percentage of Water Infrastructure segment revenue.

By Lee BaileyPublished Sep 30, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Sep 30, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 12 connected conceptsPart of the reviewed Water Infrastructure & Treatment Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

Margin reflects mix, price, productivity, and project execution
Keep the adjusted measure separate from GAAP operating margin
Part of the Water Infrastructure & Treatment Economics
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Water infrastructure adjusted EBITDA margin measures adjusted EBITDA as a percentage of Water Infrastructure segment revenue.

Xylem reported a 26.6% adjusted EBITDA margin for Water Infrastructure in the second quarter of 2026, up from 21.8% a year earlier.

Margin reflects mix, price, productivity, and project execution

Transport and treatment applications can carry different economics, and changes in project mix can materially affect segment profitability.

Adjusted EBITDA also removes specified restructuring, realignment, special-charge, and other items under Xylem's reconciliation.

Keep the adjusted measure separate from GAAP operating margin

Xylem reported a 23.0% GAAP Water Infrastructure operating margin in the quarter.

Use adjusted EBITDA margin with Water Infrastructure organic revenue growth and treatment organic revenue change.

Primary source: Xylem Q2 2026 Form 10-Q.

Part of the Water Infrastructure & Treatment Economics

Connects water infrastructure, applied water, measurement and control, and water solutions organic growth, application-level demand, and adjusted EBITDA conversion.

Browse the full operating model in Company Analysis →

Where this concept fits

Segment adjusted EBITDA conversionCurrent relationship
Adjusted EBITDA margins show how each water segment converts its distinct mix of products, projects, services, pricing, productivity, and cost inflation into adjusted profit.
Applied Water EBITDA Margin Measurement & Control EBITDA MarginWater Infrastructure EBITDA MarginCurrent conceptWater Solutions & Services EBITDA Margin
Segment organic demand
Organic growth across Water Infrastructure, Applied Water, Measurement and Control Solutions, and Water Solutions and Services shows how the major water operating segments are moving after specified portfolio and currency effects.
Applied Water Organic Growth Measurement & Control Organic Growth Water Infrastructure Organic Growth Water Solutions & Services Organic Growth
Application-level demand drivers
Building solutions, smart metering, transport, and treatment organic revenue changes show the application-level movements that shape segment growth.
Building Solutions Organic Change Smart Metering Organic Change Transport Organic Revenue Change Treatment Organic Revenue Change

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

XYLOpen operating-model research →12 of 12 reviewed concepts in Water Infrastructure & Treatment EconomicsSegment adjusted EBITDA conversion4 of 4 bridge concepts supportedContinue through this bridge:Applied Water EBITDA Margin Measurement & Control EBITDA Margin Water Solutions & Services EBITDA Margin

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Compare Water Infrastructure margins

Compare adjusted EBITDA conversion with transport/treatment mix, project timing, pricing, productivity, and issuer adjustments intact.

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