CSW Industrials, Inc.
CSW Industrials Specialty Industrial Machinery
CSW Industrials, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $1.1 billion, up 23.3% from fiscal 2025. In the quarter to June 2026, revenue grew 33.0%, EPS grew 25.5%, free cash flow grew 20.6% and total debt rose 800.5%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for ten; insiders bought in the last twelve months.
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CSW Industrials, Inc. (CSW) Altman Z-score
CSW Industrials, Inc.'s Altman Z-score for fiscal 2026 is 3.43, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 3.43 | (8.00) |
| FY2025 | 11.43 | 4.03 |
| FY2024 | 7.41 | 2.83 |
| FY2023 | 4.57 | 0.71 |
| FY2022 | 3.86 | (0.21) |
| FY2021 | 4.06 | (5.39) |
| FY2020 | 9.45 | 0.48 |
| FY2019 | 8.96 | 0.63 |
| FY2018 | 8.33 | 3.40 |
| FY2017 | 4.93 | 0.45 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.16 | — | 0.19 | |
| Retained earnings / total assets | 0.34 | — | 0.48 | |
| EBIT / total assets | 0.07 | — | 0.24 | |
| Market value of equity / total liabilities | 3.43 | — | 2.06 | |
| Sales / total assets | 0.47 | — | 0.47 | |
| Altman Z-score | Safe zone | 3.43 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.51 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| FELE Franklin Electric Co., Inc. compare | 6.9× |
| SXI Standex International Corporation compare | 5.4× |
| MWA MUELLER WATER PRODUCTS compare | 4.4× |
| NPO Enpro Inc. compare | 3.8× |
| CSW CSW Industrials, Inc. | 3.4× |
| MIDD The Middleby Corporation compare | 3.1× |
| GTES Gates Industrial Corporation PLC compare | 2.3× |
| MIR Mirion Technologies, Inc. compare | 2.2× |
| JBTM JBT Marel Corporation compare | 2.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets