Latest Ratios: P/E Ratio 69.9x · EV/EBITDA 8.7x · ROE 2.8%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $759M | $761M | $803M | $297M | $365M | $2.8B | — | — |
| Enterprise Value | $723M | $725M | $1.1B | $527M | $684M | $3.0B | — | — |
| P/E Ratio → | 69.94 | 68.43 | — | — | — | — | — | — |
| P/S Ratio | 1.39 | 1.39 | 1.58 | 0.52 | 0.52 | 4.39 | — | — |
| P/B Ratio | 1.92 | 1.87 | 2.07 | 0.74 | 0.95 | 7.83 | — | — |
| P/FCF | 29.14 | 29.21 | 19.50 | 3.57 | — | 317.78 | — | — |
| P/OCF | 14.76 | 14.79 | 13.10 | 2.55 | 11.29 | 82.20 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.33 | 2.08 | 0.93 | 0.98 | 4.77 | — | — |
| EV / EBITDA | 8.68 | 8.71 | 16.87 | 9.27 | 10.03 | — | — | — |
| EV / EBIT | 22.67 | 22.73 | 65.71 | 25.28 | 16.51 | — | — | — |
| EV / FCF | — | 27.82 | 25.68 | 6.34 | — | 344.91 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.1% | 28.1% | 30.2% | 27.0% | 31.1% | 32.4% | 35.4% | 30.9% |
| Operating Margin | 5.8% | 5.8% | 3.6% | 2.8% | 4.3% | -5.7% | 9.9% | 7.9% |
| Net Profit Margin | 2.0% | 2.0% | -3.5% | -0.4% | -0.8% | -9.9% | 4.0% | 2.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 2.8% | 2.8% | -4.5% | -0.6% | -1.5% | -19.6% | 6.7% | 3.8% |
| ROA | 1.4% | 1.4% | -2.2% | -0.3% | -0.7% | -8.7% | 2.7% | 1.4% |
| ROIC | 4.7% | 4.7% | 2.2% | 1.8% | 3.5% | -5.2% | 7.4% | 5.2% |
| ROCE | 4.3% | 4.3% | 2.5% | 2.1% | 4.1% | -5.9% | 7.8% | 5.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.80 | 0.83 | 0.92 | 0.79 | 0.79 | 1.15 |
| Debt / EBITDA | 0.42 | 0.42 | 4.96 | 5.86 | 5.17 | — | 3.39 | 4.77 |
| Net Debt / Equity | — | -0.09 | 0.66 | 0.58 | 0.83 | 0.67 | 0.58 | 0.86 |
| Net Debt / EBITDA | -0.43 | -0.43 | 4.06 | 4.05 | 4.69 | — | 2.49 | 3.56 |
| Debt / FCF | — | -1.39 | 6.18 | 2.77 | — | 27.13 | 3.46 | 6.06 |
| Interest Coverage | 1.24 | 1.24 | 0.65 | 0.67 | 2.63 | -1.19 | 2.25 | 1.12 |
Net cash position: cash ($71M) exceeds total debt ($35M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.77 | 2.77 | 2.51 | 2.77 | 2.94 | 1.99 | 1.78 | 2.54 |
| Quick Ratio | 1.82 | 1.82 | 1.43 | 1.64 | 1.03 | 1.04 | 1.09 | 1.83 |
| Cash Ratio | 0.90 | 0.90 | 0.79 | 1.19 | 0.38 | 0.38 | 0.63 | 1.13 |
| Asset Turnover | — | 0.66 | 0.64 | 0.68 | 0.80 | 0.79 | 0.62 | 0.60 |
| Inventory Turnover | 5.24 | 5.24 | 4.60 | 4.26 | 2.90 | 3.89 | 4.02 | 6.17 |
| Days Sales Outstanding | — | 26.69 | 26.03 | 20.23 | 26.84 | 37.51 | 33.60 | 36.07 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 4.0% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | 2.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.4% | 1.5% | — | — | — | — | — | — |
| FCF Yield | 3.4% | 3.4% | 5.1% | 28.0% | — | 0.3% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 77.0% | 10.2% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 77.0% | 14.1% | — | — |
| Shares Outstanding | — | $120M | $115M | $113M | $113M | $111M | $120M | $120M |
Cyclical demand and leverage
Based on current market data, SWIM trades at a trailing P/E of 69.07, a valuation that appears disconnected from its recent net margin of 2.04% and suggests investors are pricing in a significant recovery that has yet to materialize in the reported financial statements.
The forward P/E of 33.18 indicates that the market expects substantial earnings growth, yet this optimism may be premature given the company's historical volatility in net income. Compared to peers like Hayward Holdings, which trades at a lower P/E, SWIM's valuation appears to rely heavily on the narrative of fiberglass conversion rather than current fundamental earnings power.
As reported in quarterly filings, the company's ROIC has struggled to remain positive, peaking at only 2.7% in 2025Q2, which indicates that the capital-intensive nature of fiberglass molding infrastructure is currently failing to generate returns that exceed the cost of capital.
The persistent oscillation between positive and negative ROIC suggests that the company is not yet compounding value effectively. This trend warrants further investigation into whether the current asset base is over-scaled for the prevailing demand environment, as the efficiency of these investments remains highly sensitive to seasonal volume fluctuations.
According to recent financial data, the company's cash conversion cycle reached 109 days in 2026Q1, a figure that highlights the significant working capital burden required to manage seasonal inventory build-ups and the logistical complexities of the North American distribution network.
The high days inventory outstanding (DIO) of 88 days in 2026Q1 suggests that the company must carry substantial stock to meet seasonal demand, which ties up liquidity and increases exposure to potential obsolescence. Investors should monitor whether management can optimize these cycles, as the current efficiency levels appear to lag behind more streamlined equipment-focused peers.
Based on the provided balance sheet, the company has achieved a remarkably low debt-to-equity ratio of 0.08 as of 2026Q1, a strategic shift that provides a significant buffer against the high-interest-rate environment currently impacting the broader residential construction sector.
This conservative capital structure is a notable departure from historical norms and suggests a management focus on balance sheet preservation over aggressive expansion. While this reduces refinancing risk, it also implies that the company is currently prioritizing stability over the potential returns that could be generated through more active capital deployment.
The P/E ratio is frequently misapplied to SWIM because it fails to account for the massive seasonal swings in net income and the non-cash impact of stock-based compensation, which together obscure the underlying cash-generating capacity of the manufacturing business.
Analysts should instead focus on EV/EBITDA or free cash flow yields to normalize for the company's capital structure and the timing of its seasonal revenue recognition. Relying on P/E in a business with such high operating leverage and seasonal volatility may lead to erroneous conclusions regarding the company's true valuation relative to its peers.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying SWIM stock.
Latham Group, Inc.'s current P/E ratio is 69.9x. The historical average is 68.4x. This places it at the 100th percentile of its historical range.
Latham Group, Inc.'s current EV/EBITDA is 8.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.2x.
Latham Group, Inc.'s return on equity (ROE) is 2.8%. The historical average is -1.9%.
Based on historical data, Latham Group, Inc. is trading at a P/E of 69.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Latham Group, Inc. has 28.1% gross margin and 5.8% operating margin.
Latham Group, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.