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Hayward Holdings
(NYSE:HAYW)
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Rating:66Neutral
Price Target:
$16.50
▲(14.35% Upside)
Action:Reiterated
Date:07/29/26
The score is driven primarily by solid financial performance (strong margins and positive free cash flow) and a constructive earnings outlook with improved leverage and refinancing benefits. Offsetting this are mixed technical positioning (below the 20-day and 200-day averages), moderate valuation without dividend support, and ongoing revenue volatility/leverage variability risks noted in the financial statements.
Positive Factors
Installed-base aftermarket supports recurring demand
A large aftermarket mix ties demand to the growing installed pool base, supporting recurring replacement and upgrade revenue. This reduces reliance on new pool construction and gives Hayward durable access to automation, energy-efficiency and maintenance-related opportunities.
Negative Factors
Revenue history remains volatile
The uneven revenue trajectory shows exposure to cyclical pool construction, consumer spending and seasonal demand. Although recent growth has improved, continued top-line volatility could make capacity planning, margin management and sustained earnings growth less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Installed-base aftermarket supports recurring demand
A large aftermarket mix ties demand to the growing installed pool base, supporting recurring replacement and upgrade revenue. This reduces reliance on new pool construction and gives Hayward durable access to automation, energy-efficiency and maintenance-related opportunities.
Read all positive factors
Hayward Holdings (HAYW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.13B
Dividend YieldN/A
Average Volume (3M)1.47M
Price to Earnings (P/E)19.7
Beta (1Y)0.91
Revenue Growth7.78%
EPS Growth23.21%
CountryUS
Employees1,960
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.75
Shares Outstanding212,119,580
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 Ratio14.85
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$18.00Price Target Upside24.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
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 swimming pool equipment and related replacement parts through distribution and trade channels that serve both new pool construction and the ongoing maintenance (aftermarket) of the installed base of pools. ...
Hayward Holdings Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
Overall the call conveyed a positive outlook: the company reported solid top-line growth (6% Q2, 9% H1), near-record margins despite inflationary pressures, improved leverage (net leverage 1.5x), meaningful liquidity and successful refinancing lowering annual interest expense by ~$6 million. Management maintained full-year guidance and highlighted progress on product innovation, AI customer-service gains and share repurchases. The principal negatives were regional weakness in Europe/Rest of World driven by geopolitical disruption, some margin pressure from elevated commodity and freight costs, a modest decline in operating cash flow vs. prior year, and the remaining complexity related to IEEPA refunds — but these issues appear manageable within the company's stated mitigation plans.Positive Updates
Revenue Growth — Q2 and First Half
Net sales increased 6% year-over-year to $318 million in Q2 and 9% through the first half of FY2026, driven by positive price realization and stable to modestly growing volume.
Negative Updates
Weakness in Europe and Rest of World
Europe and Rest of World sales declined 8% in Q2 to $41 million (Europe -4%, Rest of World -16%), with Middle East geopolitical disruption and other macro factors cited as primary drivers of the decline.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth — Q2 and First Half
Net sales increased 6% year-over-year to $318 million in Q2 and 9% through the first half of FY2026, driven by positive price realization and stable to modestly growing volume.
Read all positive updates
Company Guidance
Hayward reiterated full‑year 2026 guidance calling for net sales to increase approximately 5% and adjusted diluted EPS to rise about 9%–13% to a range of $0.84–$0.87, with free cash flow expected around $200 million (exceeding 100% of net income); the outlook assumes net interest expense of roughly $45 million, a normalized effective tax rate of ~24% and increased CapEx of ~$40 million. Year‑to‑date the company has net sales up 9%, adjusted EBITDA up 9% and adjusted diluted EPS up 18%; Q2 sales were $318 million (up 6%), gross profit $155 million (48.7% margin) and adjusted EBITDA $93 million (29.1% margin); balance‑sheet highlights include net leverage reduced to 1.5x (from 2.1x a year ago), $483 million in cash and short‑term investments (total liquidity >$900 million), H1 operating cash flow of $172 million and FCF of $154 million, an amended $960 million Term Loan B (maturing 2033) lowering spread by 61 bps and saving ~ $6 million annually, and $64 million of share repurchases for 4.4 million shares in H1.Hayward Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.17B | 1.12B | 1.05B | 992.45M | 1.31B | 1.40B |
| Gross Profit | 521.11M | 511.23M | 501.96M | 446.59M | 564.91M | 623.13M |
| EBITDA | 305.78M | 301.81M | 278.89M | 243.37M | 343.07M | 362.21M |
| Net Income | 161.41M | 151.57M | 118.66M | 80.69M | 179.35M | 203.72M |
Balance Sheet | ||||||
| Total Assets | 3.12B | 3.15B | 2.99B | 2.95B | 2.88B | 2.98B |
| Cash, Cash Equivalents and Short-Term Investments | 483.38M | 399.11M | 196.59M | 203.10M | 56.18M | 265.80M |
| Total Debt | 10.81M | 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 | 1.60B | 1.59B | 1.42B | 1.31B | 1.22B | 1.37B |
Cash Flow | ||||||
| Free Cash Flow | 204.26M | 225.36M | 187.78M | 153.55M | 86.32M | 162.25M |
| Operating Cash Flow | 239.24M | 256.03M | 212.07M | 184.54M | 115.94M | 189.39M |
| Investing Cash Flow | -216.92M | -103.78M | -54.13M | -55.38M | -92.57M | -48.78M |
| Financing Cash Flow | -82.32M | -20.85M | -136.79M | -7.61M | -229.24M | 10.96M |
Hayward Holdings Technical Analysis
Negative
14.43
Price Trends
15.32
Negative
14.81
Negative
15.32
Negative
Market Momentum
-0.05
Positive
40.54
Neutral
4.03
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HAYW, the sentiment is Negative. The current price of 14.43 is below the 20-day moving average (MA) of 15.19, below the 50-day MA of 15.32, and below the 200-day MA of 15.32, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 40.54 is Neutral, neither overbought nor oversold. The STOCH value of 4.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $7.30B | 20.81 | 18.48% | 0.55% | 3.73% | 7.60% | |
74 Outperform | $7.97B | 41.66 | 27.51% | 0.15% | 7.04% | 8.18% | |
74 Outperform | $2.32B | 50.23 | 9.03% | 0.27% | 17.07% | 3.40% | |
66 Neutral | $3.13B | 19.68 | 10.20% | ― | 7.78% | 23.21% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | $3.16B | -19.36 | -12.14% | 1.72% | 1.63% | -253.37% | |
46 Neutral | $1.43B | -0.87 | 55.63% | ― | 533.87% | 31.49% |
* 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.