AQUA - Evoqua Water Technologies Leveraged To Both Sides Of The Water Quality Equation

• Evoqua is a broad play on water quality, offerings systems, and service for treating drinking water and wastewater, as well as water going into and out of industrial processes.
• Management is shifting the business toward a "water as a service" model where the company owns the capital and provides pre-treatment and post-treatment as a higher-margin service.
• A stricter government approach towards PFAS contamination could drive meaningful opportunities in municipal drinking water.
• Industrial water stocks seldom trade at cheap (or even reasonable) multiples, and Evoqua is no exception.

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