Hayward Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Hayward Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	733	875	1,402	1,314	992	1,052	1,122
Cost of revenue	410	478	746	717	563	565	583
Gross profit	324	397	656	597	429	487	539
Research and development	19.9	20	22.9	22.4	24.5	25.8	27.2
Selling, general and administrative	179	195	267	249	186	217	247
Operating income	98.7	125	318	286	175	209	233
Interest expense	-0.12	-0.25	-0.04	-0.36	-7.08	67.1	50.3
Other non-operating income	-86.6	-66.8	-57.8	-51.3	-74.1	-64.6	-48.6
Pre-tax income	12.1	57.8	260	234	101	144	185
Income tax	3.57	14.5	56.4	54.9	20.4	25.5	33.1
Net income	8.52	43.3	204	179	80.7	119	152
EBITDA	116	143	337	305	191	229	256
EPS, basic	0.05	0.25	0.52	0.82	0.38	0.55	0.70
EPS, diluted	0.05	0.25	0.49	0.78	0.37	0.54	0.68
Shares, basic (weighted)	0.92	1.33	188	220	213	215	217
Shares, diluted (weighted)	2.44	2.47	201	230	221	221	222
Dividend per share			0.00	0.00	0.00	0.00	0.00

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	47.2	115	266	56.2	178	197	330
Short-term investments				0	25	0	69.5
Receivables		140	208	209	271	279	280
Inventory		145	233	284	215	216	211
Other current assets		13.7	30.7	21.2	11.3	48.7	41.1
Total current assets		424	751	612	725	767	951
Property, plant and equipment		142	147	150	159	160	165
Lease right-of-use assets			63.6	65.5	58.6	55.8	54.2
Goodwill	915	920	924	932	935	944	951
Intangible assets	1,154	1,114	1,082	1,073	1,036	1,030	1,003
Other non-current assets		5.93	74.9	107	91.2	89.2	81
Total assets		2,607	2,978	2,875	2,946	2,991	3,151
Accounts payable		69.6	87.4	54	68.9	81.5	77
Accrued liabilities						28.9	37.2
Deferred revenue		11.7	8.07	7.18	4.02	3.4	3.21
Short-term debt		2.77	12.2	14.5	15.1	14	13.3
Total current liabilities		219	304	232	240	313	323
Long-term debt		1,300	973	1,085	1,079	951	944
Lease liabilities			61.6	64.8	58.6	54.8	51.4
Other non-current liabilities		10.9	69.6	70.4	66.9	64.3	63.7
Total liabilities		1,803	1,609	1,652	1,635	1,567	1,558
Total debt		1,303	995	1,114	1,107	971	960
Paid-in capital		10.3	1,059	1,070	1,081	1,093	1,110
Retained earnings		203	321	500	581	700	851
Treasury stock		-3.69	-14.1	-357	-358	-358	-363
Other comprehensive income		-0.35	3.74	10.1	7.17	-11.5	-4.71
Shareholders' equity	164	209	1,370	1,223	1,311	1,424	1,593
Total equity	164	209	1,370	1,223	1,311	1,424	1,593
Total liabilities and equity		2,607	2,978	2,875	2,946	2,991	3,151
Shares outstanding		2.77	233	212	214	216	217

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	8.52	43.3	204	179	80.7	119	152
Depreciation and amortization	17.2	18.8	18.8	19.2	16	20.1	22.8
Stock-based compensation	1.56	1.95	15	7.95	9.17	10.6	13.4
Deferred income tax	-16.6	-0.32	-15.3	-5.35	-12.8	-10.5	-7.78
Change in receivables	2.09	47.3	-70.1	-3.41	-58.7	-7.26	5.06
Change in inventory	5.11	-4.65	-89.7	-35.1	67.8	4.33	11.8
Change in payables	16.1	15.9	18.4	-36.8	14.6	11.8	-5.94
Cash from operations	94	214	189	116	185	212	256
Capital expenditures	-25	-14.2	-26.2	-29.6	-28.9	-22.4	-28.7
Acquisitions	0	0	-21.5	-63	0	-55.2	0
Purchases of investments			0	0	-25	0	-69.5
Cash from investing	4.04	-13	-48.8	-92.6	-55.4	-54.1	-104
Debt issued	0	150	51.7	130	5.45	2.89	0
Debt repaid	-27.7	-3.5	-370	-10.4	-12.5	-139	-12.8
Stock issued	1.28	0.05	0.22
Share buybacks	-1.01	-2.5	-9.52	-343	0	-0.38	-5.05
Dividends paid	-0.21	-275	0	0
Cash from financing	-65.1	-135	11	-229	-7.61	-137	-20.8
Exchange rate effect	-0.04	2.37	-1.07	-3.75	0.37	-2.66	1.65
Net change in cash	32.9	68.1	151	-210	122	18.5	133
Free cash flow	68.9	200	163	86.3	156	190	227
Interest paid	79.2	68.5	46.8	51.5	75.7	68.5	59.8
Income taxes paid	13	12	62.5	99.4	16.4	35.9	26.4

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 28, 2026; growth uses fiscal years. Valuation uses the share price of $12.63 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	48.1%	Gross profit / revenue.
Operating margin	21.1%	Operating income / revenue.
EBITDA margin	23.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.1%	Pre-tax income / revenue.
Net margin	14.0%	Net income / revenue.
FCF margin	7.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.7%	Cash from operations / revenue.
Effective tax rate	18.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.1%	Net income / average total assets.
Return on invested capital (ROIC)	8.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	2.4%	Research and development expense / revenue.
SG&A / revenue	19.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.6%	Capital expenditures / revenue.
D&A / revenue	2.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-3.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	11.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-6.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	13.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-5.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	12.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	27.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-5.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	28.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	25.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-4.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	22.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	20.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	30.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	19.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	38.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	2.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	11.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	50.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	146.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.26x	Current assets / current liabilities.
Quick ratio	2.28x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.79x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.59x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	30.4%	Total debt / total assets.
Liabilities / assets	48.6%	Total liabilities / total assets.
Net debt	$723.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.73x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$657.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	30.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$662.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.37x	Revenue / average total assets.
Fixed asset turnover	6.94x	Revenue / average property, plant and equipment.
Inventory turnover	2.72x	Cost of revenue / average inventory.
Days inventory	134 days	365 x average inventory / cost of revenue.
Receivables turnover	2.67x	Revenue / average receivables.
Days sales outstanding	137 days	365 x average receivables / revenue.
Days payables	50 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	221 days	Days inventory + days sales outstanding - days payables.
FCF conversion	50.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	27.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.72	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$5.16	Revenue / diluted weighted shares.
FCF per share	$0.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.50	Cash from operations / diluted weighted shares.
Book value per share	$7.40	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.04	Tangible book value / shares outstanding.
Cash per share	$1.06	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	13.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.68B	Share price x shares outstanding.
Enterprise value	$3.40B	Market cap + total debt - cash - short-term investments.
P/E	16.7x	Market cap / net income. Only when net income is positive.
P/S	2.33x	Market cap / revenue.
P/B	1.66x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.05x	Market cap / tangible book value, when positive.
P/FCF	33.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	24.1x	Market cap / cash from operations, when positive.
EV/Sales	2.96x	Enterprise value / revenue.
EV/EBIT	14.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	42.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.0%	Free cash flow / market cap.
Earnings yield	6.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.4%	(Dividends paid + share buybacks) / market cap.

What was Hayward Holdings, Inc.'s revenue in fiscal 2025?

Hayward Holdings, Inc. reported revenue of $1.12B for fiscal 2025, 6.7% higher than the year before.

Was Hayward Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $151.6M, a net margin of 13.5%.

How much free cash flow did Hayward Holdings, Inc. generate in fiscal 2025?

Cash from operations of $256.0M minus capital expenditures of $28.7M left free cash flow of $227.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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