Invesaro

Stocks HAYW DCF valuation

DCF valuation

What is Hayward Holdings, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Hayward Holdings, Inc.'s reported free cash flow gives $16.75 per share. The share price was $12.63 on September 25, 2026, 25% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$227.3M
Average free cash flow, last 5 years
$164.4M
Cash
$135.8M
balance sheet of March 28, 2026
Debt
$953.8M
balance sheet of March 28, 2026
Diluted shares, fiscal 2025
222,225,777
Revenue growth per year, last 4 years
6.4%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear1.5%2.0%2.0%10.0%$9.09-28%
Base6.5%4.5%2.5%9.0%$16.75+33%
Bull11.5%7.5%3.0%8.0%$32.02+154%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$22.40$24.13$26.24$28.88$32.27
8.0%$18.18$19.30$20.63$22.21$24.16
9.0%$15.10$15.86$16.75$17.78$19.00
10.0%$12.75$13.29$13.91$14.61$15.43
11.0%$10.90$11.30$11.74$12.25$12.82

Where the presets come from

Base: years 1 to 5 grow at Hayward Holdings, Inc.'s revenue growth rate over the last 4 fiscal years (6.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Hayward Holdings, Inc. company page