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Latham Group, Inc.

SWIM Industrials Building Products & Equipment

Latham Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $545.9 million, up 7.35% from fiscal 2024. In the quarter to June 2026, revenue grew 14.4%, EPS fell 21.4%, free cash flow grew 64.9% and total debt was flat, each against the same quarter a year earlier. Insiders bought in the last twelve months.

6.12 0.13 −2.08%
Market cap
$735.3M
P/E
122×
Fwd P/E
46.4×
Dividend yield
—
F-score
7/9
Altman Z
1.94
Beneish M
−2.49
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.32
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — 2 — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 52.16%

Capital & Financial Ratios $m

Market Cap 735.29
Revenue 576.64
Net Income 5.33
Free Cash Flow 37.02
Net Debt 236.33
Current Ratio 2.16 (at or above 1.5: strong)
Debt/Equity 0.68
P/E ratio 122.40 (above 35: high)
Fwd P/E 46.40 (above 35: high)
P/S ratio 1.25
P/B ratio 1.75
Past 5Y EPS Growth (10.39%) (below 0%: weak)
This Y EPS Growth 7.24%
Next Y EPS Growth 51.46% (at or above 15%: strong)
Next Y revenue growth 11.35% (at or above 10%: strong)
Next 5Y EPS Growth 23.42% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.7×, against a ten-year median of 1.7×; over the ten years it ranged from 0.8× in 2023 to 7.5× in 2021.
P/S against its own 10 years 45.86%
10-year low 10-year high
P/B against its own 10 years 46.59%
10-year low 10-year high
EV/Sales against its own 10 years 44.34%
10-year low 10-year high
EV/FCF against its own 10 years 45.79%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 103 56 71 43
Receivables 31 36 52 105
Inventory 97 77 75 80
Other — — — —
239 178 219 241
2023 2024 2025 Q'26
Payables 17 13 19 38
ST’ Debt 21 3 3 3
Other — — — —
86 71 79 112

Compound Annual Growth %

10y 5y 3y
Sales — 6.24% (7.77%)
Cash Flow — 0.09% 25.22%
Earnings — (6.99%) 0.00%
Book Value — 7.58% 1.97%

Revenue $m

Mar Jun Sep Dec Year
’26 117 197 — — —
’25 111 173 162 100 546
’24 111 160 150 87 509
’23 138 177 161 91 566
’22 192 207 189 108 696
’21 149 181 162 139 630
’20 51 113 128 112 403
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (48) 54 — — —
’25 (47) 36 51 23 63
’24 (35) 52 37 6 61
’23 (14) 51 52 28 116
’22 (57) 42 20 27 32
’21 (41) 55 15 4 34
’20 (26) 37 45 8 63
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (58) 48 — — —
’25 (50) 29 45 2 26
’24 (40) 48 33 0 41
’23 (24) 37 47 23 83
’22 (64) 32 8 16 (7)
’21 (46) 47 9 (1) 9
’20 (29) 33 42 2 47
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.07) 0.11 — — —
’25 (0.05) 0.13 0.07 (0.06) 0.09
’24 (0.07) 0.11 0.05 (0.25) (0.15)
’23 (0.13) 0.05 0.05 0.00 (0.02)
’22 (0.02) 0.04 0.10 (0.17) (0.05)
’21 0.08 (0.49) (0.10) (0.05) (0.56)
’20 (0.14) 0.17 0.18 (0.05) 0.16
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — 12.69 2.75 2.04 2.11 4.56

Analyst estimates 2026–2028

Powerpack
High — — — — — 34.73 26.06 4.77 8.41 8.46
People
People Employees — — — — — 2,388 2,198 1,760 1,817 1,804
Revenue/emp, $m — — — 0.00 0.00 0.26 0.32 0.32 0.28 0.30
Income, $m
Income, $m Revenue — — — 318 403 630 696 566 509 546
Gross margin, % — — — 30.87 35.39 32.38 31.11 27.00 30.23 33.35
EBT — — — 3 23 (54) 14 (10) (9) 13
EBT margin, % — — — 0.88 5.64 (8.49) 1.97 (1.78) (1.72) 2.47
Net income — 0 — 7 16 (62) (6) (2) (18) 11
Depreciation — — — 25 28 39 40 42 46 53
Per share, $
Per share, $ Revenue — — — 3.35 3.97 5.70 6.14 5.02 4.41 4.69
Earnings — — — 0.08 0.16 (0.56) (0.05) (0.02) (0.15) 0.10
Cash flow — — — 0.38 0.62 0.30 0.29 1.03 0.53 0.54
Capex — — — (0.07) (0.15) (0.23) (0.35) (0.29) (0.17) (0.32)
Free cash flow — — — 0.30 0.47 0.08 (0.06) 0.74 0.36 0.22
Book value — — — 0.00 2.77 3.20 3.38 3.54 3.35 3.49
Shares, m — — — 95 102 111 113 113 115 116
Valuation, ×
Valuation, × P/E — — — 72.07 72.07 0.00 0.00 0.00 0.00 63.50
P/S — — — 5.93 5.93 4.39 0.56 0.50 1.58 1.35
P/B — — — 25.75 25.75 7.83 1.01 0.71 2.07 1.82
EV/Sales — — — 6.70 6.70 4.77 0.96 0.85 2.02 1.74
EV/FCF — — — 108.69 108.69 343.53 (90.81) 5.78 24.97 36.40
Cash, $m
Cash, $m Operating cash flow — — — 36 63 34 32 116 61 63
Capex — — — (7) (16) (25) (40) (33) (20) (37)
Free cash flow — — — 29 47 9 (7) 83 41 26
Balance, $m
Balance, $m Working capital — — — 77 73 114 168 152 107 140
Total debt — — — 223 221 280 313 301 282 280
Net debt — — — 167 162 236 280 198 225 209
Shareholders’ equity — — — — 282 354 383 399 387 406
Returns, %
Returns, % ROA — — — 0.00 4.94 (8.65) (0.68) (0.28) (2.19) 1.38
ROIC — — — 9.43 5.62 (3.83) 2.83 1.69 1.87 3.11
ROE — — — 3.63 6.72 (19.63) (1.55) (0.61) (4.54) 2.81
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Latham Group, Inc. vs peers in Building Products & Equipment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ARLO Arlo Technologies, Inc. $1.3B 41.9× 46.1× +20.50% (above 0%: growing) 0.00% +45.21% (above 0%: growing) 48.23% 1.57% Compare
ROCK Gibraltar Industries, Inc. $1.2B — (loss-making) 14.4× +64.63% (above 0%: growing) −68.18% (below 0%: shrinking) −105.37% (below 0%: shrinking) 25.92% 11.74% Compare
NPKI NPK International Inc. $906.0M 21.6× 26.9× +19.57% (above 0%: growing) +40.00% (above 0%: growing) −47.36% (below 0%: shrinking) 36.97% 19.72% Compare
NX Quanex Building Products Corporation $885.4M 19.1× 15.3× +1.33% (above 0%: growing) n/m +3.58% (above 0%: growing) 28.19% 9.26% Compare
APOG Apogee Enterprises, Inc. $862.2M 12.9× 13.2× +9.20% (above 0%: growing) −1.82% (below 0%: shrinking) −53.64% (below 0%: shrinking) 24.59% 8.56% Compare
SWIM Latham Group, Inc. $735.3M 122× 46.4× +14.39% (above 0%: growing) −21.43% (below 0%: shrinking) +64.86% (above 0%: growing) 35.49% 12.71%
JBI Janus International Group, Inc. $575.8M 17.3× 16.7× +2.37% (above 0%: growing) −46.67% (below 0%: shrinking) −51.57% (below 0%: shrinking) 34.39% 8.82% Compare
LMB Limbach Holdings, Inc. $570.0M 18.8× 20.2× +21.95% (above 0%: growing) −40.30% (below 0%: shrinking) +931.20% (above 0%: growing) 21.50% 4.18% Compare
ASPN Aspen Aerogels, Inc. $448.1M — (loss-making) — (loss-making) −36.11% (below 0%: shrinking) n/m −7.06% (below 0%: shrinking) 6.55% (57.74%) Compare
Median of peers $873.8M 18.9× 16.7× +14.39% −21.06% −27.21% 27.05% 8.69%

All 35 Building Products & Equipment stocks →

Latham Group, Inc. (SWIM) key facts

  • Strength: Latham Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $545.9 million, up 7.35% from fiscal 2024.
  • Latham Group, Inc. (SWIM) is a Building Products & Equipment company in the Industrials sector, listed on Nasdaq.
  • Net income was $11.1 million, or $0.10 per share (basic), a net margin of 2.04%.
  • As of October 16, 2026, SWIM traded at $6.12, a market capitalization of $735.3 million.
  • At that price the stock trades at 122× trailing-twelve-month earnings and 1.2× sales.
  • Return on equity was 2.81% and debt-to-equity 0.68.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.94 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Latham Group, Inc. (SWIM) Latest News

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stockrow.com/SWIM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com