(SWIM) Latham - Overview
Sector: Industrials | Industry: Building Products & Equipment | Exchange: NASDAQ (USA) | Market Cap: 638m USD | Total Return: -6.2% in 12m
Avg Turnover: 3.96M
Qual. Beats: 0
Rev. Trend: -52.6%
Qual. Beats: 0
Warnings
P/E ratio 77.6
Altman Z'' 0.67 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Latham Group, Inc. (SWIM) is a leading designer and manufacturer of in-ground residential swimming pools and related components, including fiberglass pools, vinyl liners, and safety covers. Operating primarily in North America, Australia, and New Zealand, the company utilizes a business-to-business model, selling its portfolio of brands-such as Narellan and CoverStar-through a broad network of third-party dealers and distributors.
The fiberglass pool segment represents a significant growth area for the company, as fiberglass installations often require less on-site labor and shorter installation timelines compared to traditional concrete pools. Within the broader industrial machinery and supplies sector, Latham operates as a vertically integrated manufacturer, controlling the production process from raw material sourcing to final distribution.
Investors can evaluate the company’s valuation metrics and historical performance trends on ValueRay to further inform their analysis. Latham Group remains headquartered in Latham, New York, maintaining a legacy in the pool industry that dates back to 1956.
- Residential housing market activity and mortgage rates dictate new pool installation demand
- High fiberglass pool adoption rates drive market share gains over concrete alternatives
- Raw material costs for resin and fiberglass significantly impact manufacturing profit margins
- Consumer discretionary spending levels influence high-ticket outdoor living and pool renovation investments
| Net Income: 8.55m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.60 > 1.0 |
| NWC/Revenue: 19.50% < 20% (prev 25.23%; Δ -5.73% < -1%) |
| CFO/TA 0.06 > 3% & CFO 50.6m > Net Income 8.55m |
| Net Debt (290.0m) to EBITDA (88.4m): 3.28 < 3 |
| Current Ratio: 1.88 > 1.5 & < 3 |
| Outstanding Shares: last quarter (116.9m) vs 12m ago 0.87% < -2% |
| Gross Margin: 33.77% > 18% (prev 0.31%; Δ 3.35k% > 0.5%) |
| Asset Turnover: 65.65% > 50% (prev 61.77%; Δ 3.89% > 0%) |
| Interest Coverage Ratio: 1.50 > 6 (EBITDA TTM 88.4m / Interest Expense TTM 24.2m) |
| A: 0.13 (Total Current Assets 229.9m - Total Current Liabilities 122.3m) / Total Assets 856.4m |
| B: -0.08 (Retained Earnings -72.2m / Total Assets 856.4m) |
| C: 0.04 (EBIT TTM 36.4m / Avg Total Assets 840.5m) |
| D: -0.16 (Book Value of Equity -75.4m / Total Liabilities 459.7m) |
| Altman-Z'' = 0.67 = B |
| DSRI: 0.89 (Receivables 89.2m/92.3m, Revenue 551.8m/509.3m) |
| GMI: 0.91 (GM 33.77% / 30.64%) |
| AQI: 0.93 (AQ_t 0.54 / AQ_t-1 0.57) |
| SGI: 1.08 (Revenue 551.8m / 509.3m) |
| TATA: -0.05 (NI 8.55m - CFO 50.6m) / TA 856.4m) |
| Beneish M = -3.23 (Cap -4..+1) = AA |
As of May 30, 2026, the stock is trading at USD 5.28 with a total of 912,974 shares traded.
Over the past week, the price has changed by +2.33%,
over one month by -9.59%,
over three months by -21.31% and
over the past year by -6.22%.
Latham has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy SWIM.
- StrongBuy: 5
- Buy: 0
- Hold: 1
- Sell: 2
- StrongSell: 0
| Analysts Target Price | 8.1 | 54.2% |
P/E Trailing = 77.5714
P/S = 1.1554
P/B = 1.6101
Revenue TTM = 551.8m USD
EBIT TTM = 36.4m USD
EBITDA TTM = 88.4m USD
Long Term Debt = 277.0m USD (from longTermDebt, last quarter)
Short Term Debt = 10.0m USD (from shortTermDebt, last quarter)
Debt = 317.4m USD (corrected: LT Debt 277.0m + ST Debt 10.0m) + Leases 30.4m
Net Debt = 290.0m USD (calculated: Debt 317.4m - CCE 27.5m)
Enterprise Value = 927.5m USD (637.5m + Debt 317.4m - CCE 27.5m)
Interest Coverage Ratio = 1.50 (Ebit TTM 36.4m / Interest Expense TTM 24.2m)
EV/FCF = 51.08x (Enterprise Value 927.5m / FCF TTM 18.2m)
FCF Yield = 1.96% (FCF TTM 18.2m / Enterprise Value 927.5m)
FCF Margin = 3.29% (FCF TTM 18.2m / Revenue TTM 551.8m)
Net Margin = 1.55% (Net Income TTM 8.55m / Revenue TTM 551.8m)
Gross Margin = 33.77% ((Revenue TTM 551.8m - Cost of Revenue TTM 365.4m) / Revenue TTM)
Gross Margin QoQ = 31.67% (prev 27.95%)
Tobins Q-Ratio = 1.08 (Enterprise Value 927.5m / Total Assets 856.4m)
Interest Expense / Debt = 7.62% (Interest Expense 24.2m / Debt 317.4m)
Taxrate = 17.53% (2.36m / 13.5m)
NOPAT = 30.0m (EBIT 36.4m * (1 - 17.53%))
Current Ratio = 1.88 (Total Current Assets 229.9m / Total Current Liabilities 122.3m)
Debt / Equity = 0.80 (Debt 317.4m / totalStockholderEquity, last quarter 396.7m)
Debt / EBITDA = 3.28 (Net Debt 290.0m / EBITDA 88.4m)
Debt / FCF = 15.97 (Net Debt 290.0m / FCF TTM 18.2m)
Total Stockholder Equity = 402.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.02% (Net Income 8.55m / Total Assets 856.4m)
RoE = 1.80% (Net Income TTM 8.55m / Total Stockholder Equity 474.6m)
RoCE = 4.84% (EBIT 36.4m / Capital Employed (Equity 474.6m + L.T.Debt 277.0m))
RoIC = 4.03% (NOPAT 30.0m / Invested Capital 744.2m)
WACC = 8.56% (E(637.5m)/V(955.0m) * Re(9.70%) + D(317.4m)/V(955.0m) * Rd(7.62%) * (1-Tc(0.18)))
Discount Rate = 9.70% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 46.67 | Cagr: 0.80%
[DCF] Terminal Value 72.30% ; FCFF base≈23.2m ; Y1≈20.3m ; Y5≈16.4m
[DCF] Fair Price = N/A (negative equity: EV 254.6m - Net Debt 290.0m = -35.4m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -52.60 | Revenue CAGR: -3.32% | SUE: -0.32 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.15 | Chg30d=-1.02% | Revisions=-14% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.15 | Chg30d=+5.28% | Revisions=+56% | Analysts=5
EPS current Year (2026-12-31): EPS=0.21 | Chg30d=+9.78% | Revisions=+43% | GrowthEPS=+33.1% | GrowthRev=+8.0%
EPS next Year (2027-12-31): EPS=0.27 | Chg30d=-0.62% | Revisions=+25% | GrowthEPS=+30.3% | GrowthRev=+6.3%
[Analyst] Revisions Ratio: +56%