Global Economic Slowdown: Flowserve's business is cyclical and sensitive to global industrial capital expenditure and MRO (maintenance, repair, and overhaul) spending, which can decline significantly during economic downturns, impacting order intake and revenue.

Raw Material Price Volatility: Fluctuations in the cost of raw materials, such as various metals and alloys critical for their products, can erode profit margins if price increases cannot be effectively passed on to customers.

Intense Market Competition: Flowserve operates in highly competitive global markets against various large and specialized companies, leading to pricing pressure, potential loss of market share, and increased investment in R&D and services.