Latham Group, Inc. SWIM

Industrials SIC 3089 - Plastics Products, NEC NAICS Manufacturing › Plastics and Rubber Products Manufacturing › Plastics Product Manufacturing derived Nasdaq

We are the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand. We hold the leading position in North America in every product category in which we compete. It is our view that we are the most sought-after brand in the pool industry. We are Latham, The Pool CompanyTM.

With an operating history that spans over 70 years, we offer the industry's broadest portfolio of pools and related products, including in-ground swimming pools, pool covers, and pool liners.

We have a heritage of innovation. In an industry that has traditionally marketed on a business-to-business basis (pool manufacturer to dealer), we pioneered the first "direct-to-homeowner" digital and social marketing strategy that has transformed the homeowner's purchase journey. Through this marketing strategy, we are able to create demand for our pools and to provide high quality, purchase-ready consumer leads to our dealer partners.

Last close 6.64 2026-10-23
Market cap $781.8M 2026-06-27 share count
52-week range 4.64 - 8.97

Valuation FY2025 figures against the last close

P/S1.4x
P/E73.8x
P/FCF20.5x
EV/EBITDA12.1x
Dividend yield—
Diluted EPS0.09

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States Federal
  • Canada
  • Australia
  • New Zealand
  • Other
Revenue by geography, 5 categories over 3 years. The same figures are in the table below. FY2025 United States Federal, FY2025: 462.1M (84.6%) 85% United States Federal Canada, FY2025: 50.1M (9.2%) 9% Canada Australia, FY2025: 21.8M (4.0%) 4% New Zealand, FY2025: 6.3M (1.1%) Other, FY2025: 5.7M (1.0%) FY2024 United States Federal, FY2024: 429.3M (84.4%) 84% Canada, FY2024: 48.1M (9.5%) 9% Australia, FY2024: 21.5M (4.2%) 4% New Zealand, FY2024: 5.7M (1.1%) Other, FY2024: 3.9M (0.8%) FY2023 United States Federal, FY2023: 475M (83.9%) 84% Canada, FY2023: 58.4M (10.3%) 10% Australia, FY2023: 22.5M (4.0%) 4% New Zealand, FY2023: 6M (1.1%) Other, FY2023: 4.5M (0.8%)
Region FY2025FY2024FY2023
United States Federal $462.1M $429.3M $475.0M
Canada $50.1M $48.1M $58.4M
Australia $21.8M $21.5M $22.5M
New Zealand $6.3M $5.7M $6.0M
Other $5.7M $3.9M $4.5M

As the company reported it, from the “GEOGRAPHIC INFORMATION (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $545.9M$508.5M$566.5M$695.7M$630.5M$403.4M$318.0M—
Cost of revenue $363.8M$354.8M$413.5M$479.3M$426.3M$260.6M$219.8M—
Gross profit $182.1M$153.7M$152.9M$216.5M$204.2M$142.8M$98.2M—
SG&A $122.6M$108.4M$110.3M$146.8M$217.8M$85.5M$57.4M—
Operating income $30.6M$18.3M$16.1M$30.0M-$36.2M$39.9M$25.1M—
Interest expense $25.8M$24.8M$30.9M$15.8M$24.4M$18.3M——
Pre-tax income $13.5M-$8.7M-$10.1M$13.7M-$53.5M$22.8M$2.8M—
Income tax $2.4M$9.1M$7.7M$19.4M$8.8M$6.8M$4.7M—
Net income $11.1M-$17.9M-$2.4M-$5.7M-$62.3M$16.0M$7.5M—
EPS, basic 0.10-0.15-0.02-0.05-0.560.160.08—
EPS, diluted 0.09-0.15-0.02-0.05-0.560.160.08—
Shares, diluted (wtd. avg.) 119.8M115.4M112.9M113.2M110.6M102.6M95.4M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $71.0M$56.4M$102.8M$32.6M$44.0M$59.3M$56.7M$32.5M
Receivables $39.9M$32.3M$30.4M$48.8M$60.8M$32.8M——
Inventory $74.9M$77.1M$97.1M$165.2M$109.6M$64.8M——
Total current assets $219.0M$178.3M$238.6M$255.0M$229.1M$167.3M——
Property, plant and equipment $118.8M$112.8M$113.0M$98.2M$63.5M$47.4M——
Goodwill $155.2M$152.6M$131.4M$131.4M$128.9M$115.8M$101.7M—
Other intangibles $268.1M$292.9M$282.8M$309.2M$338.3M$289.5M——
Total assets $823.2M$794.2M$835.0M$869.7M$794.5M$646.7M——
Accounts payable $19.3M$13.1M—$25.4M$38.0M$26.9M——
Short-term debt $3.2M$3.2M$21.2M$3.2M$17.2M$13.0M——
Total current liabilities $79.1M$71.0M$86.2M$86.9M$115.2M$93.9M——
Long-term debt $276.6M$278.3M$280.0M$309.6M$263.2M———
Total liabilities $417.4M$407.0M$435.8M$486.9M$440.8M$365.1M——
Retained earnings -$63.7M-$74.8M-$57.0M-$54.6M-$48.6M$13.8M——
Total equity $405.9M$387.2M$399.2M$382.8M$353.6M$281.6M$193.8M$180.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $63.4M$61.3M$116.4M$32.3M$33.7M$63.2M$35.7M—
Depreciation and amortisation $51.4M$44.4M$40.8M$38.2M$32.2M$25.4M$21.7M—
Stock-based compensation $9.2M$7.4M$18.8M$50.6M$128.8M$1.8M$808.0K—
Capital expenditure $25.4M$20.1M$33.2M$39.7M$25.0M$16.3M$8.2M—
Investing cash flow -$42.3M-$84.6M-$31.7M-$45.0M-$108.2M-$115.8M-$27.1M—
Financing cash flow -$7.0M-$22.0M-$13.9M$3.8M$60.0M$54.3M$16.6M—
Buybacks —$0$0$280.7M$281.6M$582.0K$200.0K—

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 0001833197-26-000017.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M 800M Revenue, FY2019: 318M Gross profit, FY2019: 98.2M Net income, FY2019: 7.5M Revenue, FY2020: 403.4M Gross profit, FY2020: 142.8M Net income, FY2020: 16M Revenue, FY2021: 630.5M Gross profit, FY2021: 204.2M Net income, FY2021: -62.3M Revenue, FY2022: 695.7M Gross profit, FY2022: 216.5M Net income, FY2022: -5.7M Revenue, FY2023: 566.5M Gross profit, FY2023: 152.9M Net income, FY2023: -2.4M Revenue, FY2024: 508.5M Gross profit, FY2024: 153.7M Net income, FY2024: -17.9M Revenue, FY2025: 545.9M Gross profit, FY2025: 182.1M Net income, FY2025: 11.1M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $318.0M $403.4M $630.5M $695.7M $566.5M $508.5M $545.9M
Gross profit — $98.2M $142.8M $204.2M $216.5M $152.9M $153.7M $182.1M
Net income — $7.5M $16.0M -$62.3M -$5.7M -$2.4M -$17.9M $11.1M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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