Select Water Solutions, Inc. stock: filings, catalysts and timeline
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FundamentalsWhat is this?HideNot scored — outside AIR's $300M–$20B fundamentals band
How the business is doing on its own reported US-GAAP numbers — growth, margins, cash generation, balance-sheet strength, capital efficiency and dilution — compared with sector peers.
Source: SEC XBRL financial statements.
ValueWhat is this?HideWatch
How the shares are priced against sector peers, against the company's own recent history, and against a simple cash-flow estimate, using the filing numbers and the current price. AIR shows this as a band, never as a target price.
Source: SEC XBRL financial statements and end-of-day prices.
News flowWhat is this?HideBalanced
What the company has documented recently: material 8-K events (contracts, deals, results, leadership changes) and FDA approvals, weighted by recency and type. A language model's reading of each 8-K helps classify whether it is positive or negative. Filings, not press or social media.
Source: SEC EDGAR 8-K filings and FDA approvals.
MomentumWhat is this?HideBalanced
The longer-term market read: the trend in end-of-day prices, strength against the market and the sector, and trading volume over roughly the past three to twelve months. It is shown, never used to rank the Shortlist.
Source: End-of-day prices.
SafetyWhat is this?HideBalanced
The risk side: leverage, liquidity, cash runway, dilution, revenue and margin swings, company size and pre-commercial status, negative 8-K events (including legal and regulatory ones), and share-price drawdown and volatility. Higher means fewer of those risk markers.
Source: SEC XBRL financial statements, SEC EDGAR 8-K filings and end-of-day prices.
Discovery Gap: Very high (91/100) · Gap confidence 67/100
Documented progress is running well ahead of market attention.
Low is the most common level — the cut-offs are fixed, and levels can shift as scores refresh.
What is this?Hide
How far documented progress (News flow) runs ahead of market attention. Attention is measured from institutional holdings reported to the SEC, trading volume, price behaviour and how richly the shares are valued — not from social media or analyst ratings.
Source: SEC EDGAR filings (8-K and 13F), FDA approvals and end-of-day prices.
How levels work. The levels use fixed cut-offs, but market attention is ranked against the other ~1,800 companies AIR covers that day (valuation against the same sector). Documented progress counts filings from the past 18 months, newer ones weighing more; attention uses the latest quarter of institutional holdings, the last three to six months of trading, and six to twelve months of price behaviour. Many companies show a Low Gap or none at all — a gap needs filings that read more positively than neutral. A level can change from one day to the next as scores refresh and the other companies move.
Gap confidenceWhat is this?HideStrong 67/100How fully AIR could measure this Gap.
How fully AIR could measure both sides of the Discovery Gap: the documented progress (News flow) and market attention (Recognition). It takes the weaker of the two, and reads zero when either side has no measurement. It describes the data, not the company.
Evidence strengthWhat is this?HideModerate 56/100Support behind the full AIR read, not only the Gap.
How much data stands behind the whole AIR read — all five perspectives, not just the Discovery Gap. Each perspective reports how complete its inputs are, and these are combined in the same proportions as the AIR Score; a perspective AIR could not score adds nothing, so missing data lowers this figure. It describes the data, not the company.
This month at a glance
Evidence timeline
- Expected
Thu 5 Nov · expected 10-Q
Last year filed 5 Nov 2025.
Thu 18 Feb · expected 10-K
Last year filed 18 Feb 2026.
- Filed
Mon 2 Nov · 8-K
8-K · Items 1.02, 2.01, 2.03, 3.02, 8.01 — Material agreement terminated
Select Water Solutions completed acquisition of Pilot Water Solutions for ~$700M ($600M cash + 5.1M shares). Pilot Water is a Delaware Basin water midstream company with produced water disposal and pipeline infrastructure. Strengthens Select's position as leading water midstream provider.
News flow: Balanced 55 → Balanced 59Recognition: Strong 67 → Balanced 60Gap Very high · 54 → Very high · 91The filings read more positively.
Market attention has faded.
Progress is running ahead of attention.
The price trend weakened.
Wed 21 Oct · 8-K
8-K · Items 1.01, 2.03 — Material agreement
Select Water Solutions issued $900M in 7.625% Senior Notes due 2034. Notes include a special mandatory redemption clause requiring repayment of amounts exceeding $450M if the Pilot Water Solutions acquisition is not completed by March 1, 2027.
News flow: Balanced 58 → Balanced 55Recognition: Strong 66 → Balanced 63Gap Very high · 77 → Very high · 62The filings read less positively.
Market attention has faded.
The gap narrowed as the filings read less positively.
Fri 16 Oct · 8-K
Tue 13 Oct · 8-K
8-K · Items 1.01, 2.02, 8.01 — Material agreement
Select Water Solutions entered into a $500M revolving credit facility and is issuing $800M senior notes to finance the acquisition of Pilot Water Solutions, a leading Delaware Basin water midstream company with 2.7M bpd disposal capacity and long-term contracts.
Recognition: Strong 69 → Strong 65Gap Very high · 54 → Very high · 77Market attention has faded.
Progress is running ahead of attention.
The price trend weakened.
Thu 24 Sep · 8-K
8-K · Items 1.01, 3.02, 8.01 — Material agreement
Select Water Solutions agreed to acquire Pilot Water Solutions, a leading Delaware Basin water midstream company, for $700M ($600M cash + $100M stock) plus $15M earnout. Expected to add $120–130M 2027 EBITDA with $10–15M synergies, strengthening Water Infrastructure to ~70% of pro forma profitability.
Wed 5 Aug · 10-Q
Quarterly report (10-Q), period ending 30 Jun 2026
Tue 4 Aug · 8-K
Mon 1 Jun · 8-K
Fri 8 May · 8-K
Wed 6 May · 10-Q
Quarterly report (10-Q), period ending 31 Mar 2026
Tue 5 May · 8-K
Wed 25 Feb · 8-K
Mon 23 Feb · 8-K
Thu 19 Feb · 8-K
Wed 18 Feb · 10-K
Annual report (10-K), FY2025
Tue 17 Feb · 8-K
Mon 10 Nov · 8-K
Solid dots: a filing AIR classified as material. Grey: routine. Hollow: expected, from last year's dates — not a forecast.
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What would change our view
Research, not tips. No buy/sell recommendations, no price forecasts. Every score is derived from public filings and market data — figures round to whole numbers and refresh each trading day.