{
 "company": "Xylem Inc.",
 "ticker": "XYL",
 "sector": "Renewable Utilities",
 "fiscalYearEnd": null,
 "revenueUsdM": 9035.0,
 "normalizedSga": {
  "pctRevenue": 21.28,
  "peerCount": 14,
  "peerMedianPctRevenue": 13.7,
  "peerLeanQuartilePctRevenue": 9.7,
  "peers": [
   {
    "ticker": "GEV",
    "name": "GE Vernova Inc.",
    "normalizedSgaPctRevenue": 13.0
   },
   {
    "ticker": "ROK",
    "name": "Rockwell Automation, Inc.",
    "normalizedSgaPctRevenue": 22.94
   },
   {
    "ticker": "OTIS",
    "name": "Otis Worldwide Corporation",
    "normalizedSgaPctRevenue": 13.71
   },
   {
    "ticker": "DOV",
    "name": "Dover Corporation",
    "normalizedSgaPctRevenue": 20.46
   },
   {
    "ticker": "HUBB",
    "name": "Hubbell Incorporated",
    "normalizedSgaPctRevenue": 14.63
   },
   {
    "ticker": "CMI",
    "name": "Cummins Inc.",
    "normalizedSgaPctRevenue": 9.28
   },
   {
    "ticker": "CAT",
    "name": "Caterpillar Inc.",
    "normalizedSgaPctRevenue": 10.33
   },
   {
    "ticker": "DE",
    "name": "Deere & Company",
    "normalizedSgaPctRevenue": 9.69
   },
   {
    "ticker": "CARR",
    "name": "Carrier Global Corporation",
    "normalizedSgaPctRevenue": 14.22
   },
   {
    "ticker": "EMR",
    "name": "Emerson Electric Co.",
    "normalizedSgaPctRevenue": 24.05
   },
   {
    "ticker": "AME",
    "name": "AMETEK, Inc.",
    "normalizedSgaPctRevenue": 6.84
   },
   {
    "ticker": "CW",
    "name": "Curtiss-Wright Corporation",
    "normalizedSgaPctRevenue": 16.24
   },
   {
    "ticker": "WWD",
    "name": "Woodward, Inc.",
    "normalizedSgaPctRevenue": 9.25
   }
  ],
  "definition": "Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A."
 },
 "disclosedLines": [
  {
   "key": "research_dev",
   "label": "R&D",
   "pctRevenue": 2.5,
   "companiesDisclosing": 13,
   "peersDisclosing": [
    {
     "ticker": "GEV",
     "pctRevenue": 3.14
    },
    {
     "ticker": "ROK",
     "pctRevenue": 8.14
    },
    {
     "ticker": "OTIS",
     "pctRevenue": 1.05
    },
    {
     "ticker": "DOV",
     "pctRevenue": 2.04
    },
    {
     "ticker": "CMI",
     "pctRevenue": 4.15
    },
    {
     "ticker": "CAT",
     "pctRevenue": 3.18
    },
    {
     "ticker": "DE",
     "pctRevenue": 5.06
    },
    {
     "ticker": "CARR",
     "pctRevenue": 2.87
    },
    {
     "ticker": "EMR",
     "pctRevenue": 4.28
    },
    {
     "ticker": "AME",
     "pctRevenue": 3.19
    },
    {
     "ticker": "CW",
     "pctRevenue": 2.72
    },
    {
     "ticker": "WWD",
     "pctRevenue": 4.14
    }
   ],
   "note": "R&D in this cohort is product engineering and varies by design. Not where the overhead question lives."
  },
  {
   "key": "stock_comp",
   "label": "Stock-based comp",
   "pctRevenue": 0.59,
   "companiesDisclosing": 11,
   "peersDisclosing": [
    {
     "ticker": "ROK",
     "pctRevenue": 1.02
    },
    {
     "ticker": "OTIS",
     "pctRevenue": 0.55
    },
    {
     "ticker": "DOV",
     "pctRevenue": 0.54
    },
    {
     "ticker": "HUBB",
     "pctRevenue": 0.56
    },
    {
     "ticker": "DE",
     "pctRevenue": 0.33
    },
    {
     "ticker": "CARR",
     "pctRevenue": 0.34
    },
    {
     "ticker": "EMR",
     "pctRevenue": 1.46
    },
    {
     "ticker": "AME",
     "pctRevenue": 0.65
    },
    {
     "ticker": "CW",
     "pctRevenue": 0.61
    },
    {
     "ticker": "WWD",
     "pctRevenue": 0.89
    }
   ],
   "note": "Right at the peer median. Not distorting the overhead picture."
  }
 ],
 "gapToPeers": {
  "toPeerMedian": {
   "usdM": 661,
   "bps": 732
  },
  "toLeanQuartile": {
   "usdM": 1033,
   "bps": 1143
  }
 },
 "tsrBridge": [
  {
   "label": "1 year",
   "span": "FY2024 to FY2025",
   "companyTsrPct": 19,
   "peerTsrPct": 29,
   "driverPp": {
    "Revenue growth": 3.2,
    "Gross margin": 1.9,
    "SG&A": 3,
    "Multiple": -19,
    "Other": 0.3
   }
  },
  {
   "label": "3 years",
   "span": "FY2022 to FY2025",
   "companyTsrPct": 28,
   "peerTsrPct": 97,
   "driverPp": {
    "Revenue growth": 46,
    "Gross margin": -15.7,
    "SG&A": 92.2,
    "Multiple": -141.9,
    "Other": -49.9
   }
  },
  {
   "label": "5 years",
   "span": "FY2020 to FY2025",
   "companyTsrPct": 42,
   "peerTsrPct": 146,
   "driverPp": {
    "Revenue growth": 45.6,
    "Gross margin": -9.1,
    "SG&A": 98.9,
    "Multiple": -179.3,
    "Other": -60.3
   }
  },
  {
   "label": "10 years",
   "span": "FY2016 to FY2025",
   "companyTsrPct": 207,
   "peerTsrPct": 377,
   "driverPp": {
    "Revenue growth": 89,
    "Gross margin": -60,
    "SG&A": 72.2,
    "Multiple": -124.3,
    "Other": -147.3
   }
  }
 ],
 "recentQuarter": null,
 "sources": [
  "10-K and 10-Q filings (US GAAP)",
  "XBRL company facts",
  "earnings releases"
 ],
 "urls": {
  "briefing": "https://sgabenchmarking.com/r/XYL",
  "json": "https://sgabenchmarking.com/r/XYL.json",
  "industryBenchmarks": "https://sgabenchmarking.com/catalog.json"
 },
 "publisher": "SG&A Benchmarking, https://sgabenchmarking.com"
}