Hayward Holdings (HAYW)
NYSE:HAYW
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Hayward Holdings
(NYSE:HAYW)
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Rating:71Outperform
Price Target:
$17.50
▲(14.60% Upside)
Action:ReiteratedDate:04/29/26
The score is driven primarily by strong profitability and a strengthened, low-leverage balance sheet, reinforced by a positive earnings call with raised full-year guidance. Offsetting factors include recent free-cash-flow volatility, stretched technical momentum indicators, and a valuation that looks less attractive without a dividend.
Positive Factors
High profitability and margins
Sustained high gross and operating margins indicate durable product economics and pricing power across core pool-equipment categories. Strong margins provide recurring profits to fund R&D, commercial expansion and absorb cyclical demand swings, supporting long-term cash generation and return potential.
Negative Factors
Free cash flow volatility
Sharp decline in free cash flow and weaker cash conversion versus net income signal operating and working‑capital sensitivity. Volatile FCF complicates capital allocation, investor returns and debt paydown pacing; persistent volatility reduces the company’s ability to fund growth or absorb shocks without external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained high gross and operating margins indicate durable product economics and pricing power across core pool-equipment categories. Strong margins provide recurring profits to fund R&D, commercial expansion and absorb cyclical demand swings, supporting long-term cash generation and return potential.
Read all positive factors
Hayward Holdings (HAYW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.27B
Dividend YieldN/A
Average Volume (3M)1.47M
Price to Earnings (P/E)30.8
Beta (1Y)0.91
Revenue Growth7.55%
EPS Growth29.49%
CountryUS
Employees1,934
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.13
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 Cap1.27
Enterprise Value/Revenue3.61
Enterprise Value/Gross Profit8.01
Enterprise Value/Ebitda13.75
Forecast
1Y Price Target
$17.88Price Target Upside17.06% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.84
Revenue Forecast (FY)$1.17B
Hayward Holdings Business Overview & Revenue Model
Company Description
Hayward Holdings, Inc. designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers residential and commercial pool equipment, including pumps,...
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 | 301.31M | 294.42M | 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
14.92
Positive
15.53
Negative
15.49
Negative
Market Momentum
0.07
Negative
65.00
Neutral
89.58
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 13.99, above the 50-day MA of 14.92, and below the 200-day MA of 15.49, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 65.00 is Neutral, neither overbought nor oversold. The STOCH value of 89.58 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 |
|---|---|---|---|---|---|---|---|
85 Outperform | $10.03B | 23.32 | 30.64% | 0.32% | 5.12% | 16.01% | |
78 Outperform | $7.83B | 15.10 | 16.61% | 0.67% | 5.20% | -0.12% | |
77 Outperform | $1.63B | 31.55 | 7.31% | 0.35% | 15.92% | -12.16% | |
71 Outperform | $3.27B | 30.78 | 10.32% | ― | 7.55% | 29.49% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $2.52B | 36.07 | -3.28% | 2.02% | -7.20% | -113.24% | |
47 Neutral | $2.19B | -6.20 | 73.98% | ― | 631.79% | -43.14% |
* Industrials Sector Average
HAYW
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7.12%
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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.