(FDR) Fluidra - Overview
Sector: Consumer Cyclical | Industry: Leisure | Exchange: MC (Spain) | Market Cap: 3.583m EUR | Total Return: -12.7% in 12m
Avg Turnover: 6.91M
EPS Trend: 91.1%
Qual. Beats: -1
Rev. Trend: 87.0%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Fluidra, S.A. is a global leader in the pool and wellness industry, specializing in the design, manufacture, and distribution of equipment for residential and commercial aquatic facilities. Its product portfolio encompasses essential hardware such as pumps, filters, and heaters, alongside specialized technology including robotic cleaners, salt chlorinators, and connected pool systems. The company operates a multi-brand strategy, utilizing well-known names like Zodiac, Jandy, and AstralPool to maintain a presence across diverse market segments.
The pool industry business model relies heavily on the installed base, where a significant portion of revenue is generated through recurring maintenance, chemical sales, and the replacement of aftermarket parts rather than new pool construction alone. Fluidra further diversifies its revenue streams by providing fluid handling systems for irrigation and industrial applications. Examining historical margin trends on ValueRay can help clarify how this aftermarket mix impacts long-term profitability. Headquartered in Spain, the company serves a wide range of clients, from private homeowners to large-scale commercial operators like water parks and resorts.
- New pool construction rates fluctuate with global interest rate cycles
- Growing installed base drives recurring revenue from aftermarket parts and chemicals
- Smart pool technology adoption increases average revenue per residential unit
- North American market expansion impacts overall consolidated profit margins
- Raw material and logistics costs influence gross margin stability across regions
| Net Income: 174.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 1.30 > 1.0 |
| NWC/Revenue: 18.54% < 20% (prev 20.08%; Δ -1.54% < -1%) |
| CFO/TA 0.09 > 3% & CFO 342.6m > Net Income 174.3m |
| Net Debt (1.29b) to EBITDA (872.0m): 1.48 < 3 |
| Current Ratio: 1.58 > 1.5 & < 3 |
| Outstanding Shares: last quarter (189.9m) vs 12m ago 0.03% < -2% |
| Gross Margin: 31.07% > 18% (prev 0.52%; Δ 3.06k% > 0.5%) |
| Asset Turnover: 58.57% > 50% (prev 57.47%; Δ 1.11% > 0%) |
| Interest Coverage Ratio: 12.70 > 6 (EBITDA TTM 872.0m / Interest Expense TTM 55.9m) |
| A: 0.11 (Total Current Assets 1.10b - Total Current Liabilities 697.0m) / Total Assets 3.73b |
| B: 0.10 (Retained Earnings 380.0m / Total Assets 3.73b) |
| C: 0.19 (EBIT TTM 710.0m / Avg Total Assets 3.75b) |
| D: 0.27 (Book Value of Equity 563.0m / Total Liabilities 2.06b) |
| Altman-Z'' = 2.61 = A |
| DSRI: 0.95 (Receivables 512.0m/529.7m, Revenue 2.20b/2.16b) |
| GMI: 1.68 (GM 31.07% / 52.25%) |
| AQI: 0.99 (AQ_t 0.60 / AQ_t-1 0.61) |
| SGI: 1.01 (Revenue 2.20b / 2.16b) |
| TATA: -0.05 (NI 174.3m - CFO 342.6m) / TA 3.73b) |
| Beneish M = -2.49 (Cap -4..+1) = BBB |
As of May 30, 2026, the stock is trading at EUR 18.84 with a total of 574,801 shares traded.
Over the past week, the price has changed by -0.16%,
over one month by -5.80%,
over three months by -16.93% and
over the past year by -12.74%.
Fluidra has no consensus analysts rating.
P/E Trailing = 20.2903
P/E Forward = 9.7371
P/S = 1.5926
P/B = 2.251
P/EG = 0.6412
Revenue TTM = 2.20b EUR
EBIT TTM = 710.0m EUR
EBITDA TTM = 872.0m EUR
Long Term Debt = 1.03b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 129.0m EUR (from shortTermDebt, last quarter)
Debt = 1.35b EUR (from shortLongTermDebtTotal, last quarter) + Leases 182.5m
Net Debt = 1.29b EUR (calculated: Debt 1.35b - CCE 66.0m)
Enterprise Value = 4.87b EUR (3.58b + Debt 1.35b - CCE 66.0m)
Interest Coverage Ratio = 12.70 (Ebit TTM 710.0m / Interest Expense TTM 55.9m)
EV/FCF = 16.12x (Enterprise Value 4.87b / FCF TTM 302.1m)
FCF Yield = 6.20% (FCF TTM 302.1m / Enterprise Value 4.87b)
FCF Margin = 13.76% (FCF TTM 302.1m / Revenue TTM 2.20b)
Net Margin = 7.94% (Net Income TTM 174.3m / Revenue TTM 2.20b)
Gross Margin = 31.07% ((Revenue TTM 2.20b - Cost of Revenue TTM 1.51b) / Revenue TTM)
Gross Margin QoQ = 50.18% (prev -48.39%)
Tobins Q-Ratio = 1.31 (Enterprise Value 4.87b / Total Assets 3.73b)
Interest Expense / Debt = 4.13% (Interest Expense 55.9m / Debt 1.35b)
Taxrate = 26.23% (16.0m / 61.0m)
NOPAT = 523.8m (EBIT 710.0m * (1 - 26.23%))
Current Ratio = 1.58 (Total Current Assets 1.10b / Total Current Liabilities 697.0m)
Debt / Equity = 0.82 (Debt 1.35b / totalStockholderEquity, last quarter 1.66b)
Debt / EBITDA = 1.48 (Net Debt 1.29b / EBITDA 872.0m)
Debt / FCF = 4.26 (Net Debt 1.29b / FCF TTM 302.1m)
Total Stockholder Equity = 1.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.65% (Net Income 174.3m / Total Assets 3.73b)
RoE = 10.94% (Net Income TTM 174.3m / Total Stockholder Equity 1.59b)
RoCE = 27.06% (EBIT 710.0m / Capital Employed (Equity 1.59b + L.T.Debt 1.03b))
RoIC = 16.91% (NOPAT 523.8m / Invested Capital 3.10b)
WACC = 6.56% (E(3.58b)/V(4.94b) * Re(7.89%) + D(1.35b)/V(4.94b) * Rd(4.13%) * (1-Tc(0.26)))
Discount Rate = 7.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 62.93 | Cagr: 0.02%
[DCF] Terminal Value 77.97% ; FCFF base≈283.7m ; Y1≈325.2m ; Y5≈478.6m
[DCF] Fair Price = 31.15 (EV 7.20b - Net Debt 1.29b = Equity 5.91b / Shares 189.9m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 91.11 | EPS CAGR: 12.16% | SUE: -1.72 | # QB: -1
Revenue Correlation: 86.95 | Revenue CAGR: 2.20% | SUE: -0.43 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.48 | Chg30d=-0.87% | Revisions=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.29 | Chg30d=-0.91% | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=1.33 | Chg30d=+0.39% | Revisions=-25% | GrowthEPS=+1.9% | GrowthRev=+3.8%
EPS next Year (2027-12-31): EPS=1.55 | Chg30d=-2.09% | Revisions=-25% | GrowthEPS=+17.1% | GrowthRev=+5.5%
[Analyst] Revisions Ratio: -25%