Hayward Holdings (HAYW)
NYSE:HAYW
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Hayward Holdings
(NYSE:HAYW)
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Rating:73Outperform
Price Target:
$16.50
▲(8.06% Upside)
Action:Upgraded
Date:06/24/26
The score is driven primarily by strong underlying profitability and balance-sheet strength, reinforced by a positive earnings call with raised guidance. Offsetting these positives are weaker recent cash-flow trends and only mixed technicals (still below the 200-day average), with valuation appearing reasonable but not especially compelling and no dividend yield provided.
Positive Factors
Margin Sustainability
High gross and operating margins indicate a structurally profitable business model with meaningful pricing power and operating leverage. Sustained margins support cash generation, capacity for reinvestment in new products and fault tolerance to input-cost volatility over the medium term.
Negative Factors
Weakened Cash Conversion
A sharp decline in trailing free cash flow and operating cash conversion below net income signals working-capital strain or timing effects that can constrain discretionary investments. If the weaker cash conversion persists, it limits capital allocation flexibility despite strong accounting earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Sustainability
High gross and operating margins indicate a structurally profitable business model with meaningful pricing power and operating leverage. Sustained margins support cash generation, capacity for reinvestment in new products and fault tolerance to input-cost volatility over the medium term.
Read all positive factors
Hayward Holdings (HAYW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.58B
Dividend YieldN/A
Average Volume (3M)1.47M
Price to Earnings (P/E)22.0
Beta (1Y)0.85
Revenue Growth7.55%
EPS Growth29.49%
CountryUS
Employees1,934
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.75
Shares Outstanding216,963,000
10 Day Avg. Volume1,714,293
30 Day Avg. Volume1,470,311
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)2.10
Price to Sales (P/S)2.98
P/FCF Ratio14.82
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue3.52
Enterprise Value/Gross Profit7.81
Enterprise Value/Ebitda12.92
Forecast
1Y Price Target
$17.50Price Target Upside14.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.86
Revenue Forecast (FY)$1.18B
Hayward Holdings Business Overview & Revenue Model
Company Description
Hayward Holdings, Inc., established in 1925 and headquartered in Charlotte, North Carolina, specializes in the development, manufacturing, and global marketing of a diverse range of swimming pool equipment and integrated automation systems. Its ex...
How the Company Makes Money
Hayward makes money primarily by selling pool equipment and related components to the pool industry through distribution and trade channels (e.g., pool product distributors, dealers, builders, and service professionals) as well as other commercial...
Hayward Holdings Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call was broadly positive: the company delivered above-expectation Q1 results with double-digit sales and earnings growth, margin expansion, improved year-over-year leverage, and raised full-year guidance. Key strengths include strong pricing execution, product momentum (OmniX and discretionary categories), regional gains (notably Canada and commercial), and a durable aftermarket mix. Near-term challenges include significant Q1 operating cash usage due to seasonal Early Buy timing and the absence of prior-year AR sale proceeds, localized geopolitical disruption in the Middle East affecting Rest of World, and rising input costs (specialty metals, freight, resins, energy) that may compress margins in Q2 before mitigations take hold. Overall, the positive operational and financial trends materially outweigh the transitory and manageable headwinds.Positive Updates
Strong Top-Line Growth
Net sales increased 12% year-over-year to $255 million (vs. 8% a year ago), driven by strong price realization, positive volume and favorable foreign exchange.
Negative Updates
Seasonal Operating Cash Use
Operating cash flow used $151 million in Q1 2026 versus $6 million in Q1 2025. The prior-year period benefited from $99 million of net proceeds from the sale of accounts receivable that did not recur in 2026, and Q1 is seasonally cash-negative due to Early Buy payment terms.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
Net sales increased 12% year-over-year to $255 million (vs. 8% a year ago), driven by strong price realization, positive volume and favorable foreign exchange.
Read all positive updates
Company Guidance
Hayward raised its full‑year 2026 guidance, now expecting net sales to increase approximately 5% (up from ~4%) and adjusted diluted EPS to rise roughly 9%–13% to a new range of $0.84–$0.87 (prior $0.82–$0.86); the company also now assumes about +4% price realization for the year (vs. prior ~+3%), with North America mid‑single‑digit pricing and Europe lower single digits. Management said Q2 may see modest year‑over‑year gross‑margin compression before mitigation actions take hold and full‑year gross margin is expected to be in line with last year, while noting a temporary 2.5% surcharge that management has not built into guidance. Financial assumptions include free cash flow of ~ $200 million (exceeding 100% of net income), net interest expense of about $45 million, a normalized effective tax rate around 24%, and increased CapEx of roughly $40 million; balance‑sheet progress was highlighted by net leverage of 2.4x (down from 2.8x year‑ago) despite normal seasonal Q1 leverage increases.Hayward Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.15B | 1.12B | 1.05B | 992.45M | 1.31B | 1.40B |
| Gross Profit | 517.02M | 511.23M | 501.96M | 446.59M | 564.91M | 623.13M |
| EBITDA | 312.80M | 301.81M | 278.89M | 243.37M | 343.07M | 362.21M |
| Net Income | 160.60M | 151.57M | 118.66M | 80.69M | 179.35M | 203.72M |
Balance Sheet | ||||||
| Total Assets | 3.14B | 3.15B | 2.99B | 2.95B | 2.88B | 2.98B |
| Cash, Cash Equivalents and Short-Term Investments | 230.73M | 399.11M | 196.59M | 203.10M | 56.18M | 265.80M |
| Total Debt | 1.01B | 13.26M | 975.39M | 1.16B | 1.11B | 992.83M |
| Total Liabilities | 1.52B | 1.56B | 1.57B | 1.63B | 1.65B | 1.61B |
| Stockholders Equity | 1.61B | 1.59B | 1.42B | 1.31B | 1.22B | 1.37B |
Cash Flow | ||||||
| Free Cash Flow | 80.50M | 225.74M | 187.78M | 153.55M | 86.32M | 162.25M |
| Operating Cash Flow | 109.67M | 254.46M | 212.07M | 184.54M | 115.94M | 189.39M |
| Investing Cash Flow | -129.83M | -103.78M | -54.13M | -55.38M | -92.57M | -48.78M |
| Financing Cash Flow | -26.50M | -19.27M | -136.79M | -7.61M | -229.24M | 10.96M |
Hayward Holdings Technical Analysis
Positive
15.27
Price Trends
14.59
Positive
14.77
Positive
15.30
Positive
Market Momentum
0.43
Negative
73.21
Negative
95.44
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HAYW, the sentiment is Positive. The current price of 15.27 is above the 20-day moving average (MA) of 14.68, above the 50-day MA of 14.59, and below the 200-day MA of 15.30, indicating a bullish trend. The MACD of 0.43 indicates Negative momentum. The RSI at 73.21 is Negative, neither overbought nor oversold. The STOCH value of 95.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HAYW.
Hayward Holdings Risk Analysis
Hayward Holdings disclosed 50 risk factors in its most recent earnings report. Hayward Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hayward Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $8.10B | 28.30 | 15.60% | 0.67% | 3.70% | -14.17% | |
76 Outperform | $1.93B | 56.68 | 7.31% | 0.35% | 15.92% | -12.16% | |
74 Outperform | $10.19B | 54.29 | 28.61% | 0.32% | 4.50% | 7.18% | |
73 Outperform | $3.58B | 21.99 | 10.32% | ― | 7.55% | 29.49% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | $2.63B | -21.68 | -8.68% | 2.02% | -3.36% | -168.34% | |
52 Neutral | $2.01B | -1.36 | 41.50% | ― | 725.76% | 20.97% |
* Industrials Sector Average
HAYW
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Hayward Holdings Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Hayward Holdings Refinances and Extends Senior Credit Facilities
Positive
Jun 23, 2026
On June 23, 2026, Hayward Industries, Inc. and its Canadian affiliate entered into an amended and restated first lien credit agreement with a syndicate led by Bank of America to refinance and extend the maturities of their existing term loan and r...
Executive/Board ChangesShareholder Meetings
Hayward Holdings Stockholders Reaffirm Board and Executive Pay
Positive
May 22, 2026
At its 2026 Annual Meeting of Stockholders held on May 21, 2026, Hayward Holdings, Inc. stockholders elected director nominees Kevin D. Brown, Arthur L. Soucy and Lori A. Walker by plurality vote to serve terms through the 2029 annual meeting. The...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.