CSW INDUSTRIALS, INC. CSW
CSW is a diversified industrial growth company with a strategic focus on providing niche, value-added products in the end markets we serve. We operate in three business segments: Contractor Solutions, Specialized Reliability Solutions and Engineered Building Solutions. Our products include mechanical products for heating, ventilation, air conditioning and refrigeration ("HVAC/R"), plumbing products, grilles, registers and diffusers ("GRD"), building safety solutions and high-performance specialty lubricants and sealants. End markets that we serve include HVAC/R, architecturally-specified building products, plumbing, general industrial, energy, rail transportation, mining and electrical. Our manufacturing operations are concentrated in the United States ("U.S."), Vietnam and Canada, and we have distribution operations in the U.S., Australia, Canada and the United Kingdom ("U.K."). Our products are sold directly to end-users or through designated channels in over 100 countries around the world, primarily in the U.S., Canada, the U.K. and Australia.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $878.3M | $792.8M | $757.9M | $626.4M | $419.2M | $385.9M | $350.2M | $326.2M | $287.5M |
| Cost of revenue | $628.9M | $485.0M | $442.1M | $439.7M | $370.5M | $234.7M | $209.0M | $188.8M | $178.3M | $158.5M |
| Gross profit | $453.7M | $393.3M | $350.7M | $318.2M | $256.0M | $184.6M | $176.8M | $161.4M | $147.9M | $129.0M |
| R&D | $5.8M | $5.3M | $5.9M | $4.8M | — | — | — | — | — | — |
| SG&A | $269.5M | $212.1M | $190.1M | $179.1M | $158.6M | $125.3M | $110.0M | $100.9M | $98.3M | $95.6M |
| Operating income | $168.5M | $181.2M | $159.1M | $139.1M | $97.4M | $59.2M | $65.9M | $60.4M | $49.7M | $32.0M |
| Pre-tax income | $145.6M | $180.1M | $140.5M | $125.9M | $91.5M | $50.9M | $57.4M | $61.4M | $48.2M | $32.2M |
| Income tax | $32.7M | $42.6M | $37.9M | $29.3M | $24.1M | $10.8M | $12.7M | $15.4M | $15.6M | $14.4M |
| Net income | $112.0M | $136.7M | $102.5M | $96.6M | $67.3M | $40.1M | $45.7M | $45.6M | -$11.9M | $11.1M |
| EPS, basic | 6.73 | 8.41 | 6.54 | 6.22 | 4.21 | 2.67 | 3.04 | 2.96 | -0.76 | 0.70 |
| EPS, diluted | 6.70 | 8.38 | 6.52 | 6.20 | 4.20 | 2.65 | 3.01 | 2.93 | -0.76 | 0.70 |
| Shares, diluted (wtd. avg.) | $16.7M | $16.3M | $15.6M | $15.5M | $15.8M | $15.1M | $15.2M | $15.5M | $15.7M | $15.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $33.8M | $225.8M | $22.2M | $18.5M | $16.6M | $10.1M | $18.3M | $26.7M | $11.7M | $23.1M |
| Receivables | $210.3M | $155.7M | $142.7M | $122.8M | $122.8M | $96.7M | $74.9M | $66.1M | $63.4M | $59.8M |
| Inventory | $309.7M | $194.9M | $150.7M | $161.6M | $150.1M | $102.7M | $58.6M | $51.4M | $43.0M | $43.7M |
| Total current assets | $589.1M | $592.9M | $331.4M | $323.1M | $300.1M | $219.1M | $150.0M | $151.3M | $127.6M | $147.0M |
| Property, plant and equipment | $107.5M | $93.4M | $92.8M | $88.2M | $87.0M | $82.6M | $57.2M | $53.6M | $54.5M | $56.8M |
| Goodwill | $632.6M | $264.1M | $247.2M | $242.7M | $224.7M | $218.8M | $91.7M | $86.3M | $81.8M | $80.9M |
| Other intangibles | $900.1M | $357.9M | $318.8M | $318.9M | $300.8M | $283.1M | $46.2M | $50.5M | $53.1M | $59.3M |
| Total assets | $2.32B | $1.38B | $1.04B | $1.04B | $995.4M | $879.5M | $374.1M | $352.6M | $340.8M | $398.4M |
| Accounts payable | $76.9M | $54.8M | $48.4M | $40.7M | $47.8M | $32.4M | $22.0M | $19.0M | $16.8M | $10.4M |
| Short-term debt | $29.5M | $0 | $0 | $0 | $561.0K | $561.0K | $561.0K | $561.0K | $561.0K | $561.0K |
| Total current liabilities | $226.9M | $147.2M | $115.8M | $108.0M | $117.4M | $82.7M | $59.1M | $49.2M | $44.9M | $38.5M |
| Long-term debt | $839.8M | $0 | $166.0M | $253.0M | $252.2M | $241.8M | $10.3M | $30.9M | $23.5M | $72.6M |
| Total liabilities | $1.25B | $286.6M | $408.2M | $499.3M | $510.9M | $464.1M | $92.5M | $88.9M | $75.1M | $126.0M |
| Retained earnings | $799.0M | $705.0M | $583.1M | $493.3M | $407.5M | $350.7M | $318.7M | $277.6M | $233.7M | $245.0M |
| Total equity | $1.05B | $1.07B | $615.7M | $525.7M | $469.1M | $415.4M | $280.4M | $267.5M | $265.8M | $272.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $149.7M | $168.4M | $164.3M | $121.5M | $69.1M | $66.3M | $69.9M | $59.7M | $43.2M | $39.0M |
| Depreciation and amortisation | $15.9M | $14.2M | $14.0M | $35.0M | $36.4M | $22.7M | $14.6M | $13.8M | $14.9M | $13.8M |
| Capital expenditure | $17.3M | $16.3M | $16.6M | $14.0M | $15.7M | $8.8M | $11.4M | $7.5M | $5.5M | $6.9M |
| Investing cash flow | -$1.04B | -$102.2M | -$42.5M | -$69.7M | -$51.5M | -$289.9M | -$20.4M | -$3.1M | -$4.5M | -$26.0M |
| Financing cash flow | $701.5M | $138.0M | -$117.0M | -$49.3M | -$13.0M | $214.0M | -$57.2M | -$39.3M | -$51.5M | -$15.3M |
| Dividends paid | $18.0M | $14.6M | $11.8M | $10.6M | $9.5M | $8.1M | $8.1M | $0 | $0 | $0 |
| Buybacks | $132.7M | $27.7M | $15.3M | $39.1M | $19.3M | $10.5M | $28.5M | $46.7M | $2.2M | $1.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-306099.
Others in SIC 2891
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| FUL | FULLER H B CO | $2.90B | 19.6x | -2.7% |