olivLaw · US equity research
Hayward Holdings, Inc. HAYW
Refrigeration & Service Industry Machinery · SIC 3580 · Vertical: Refrigeration & Service Industry Machinery (SIC 3580)
Hayward Holdings designs and manufactures pool equipment, outdoor living products and industrial flow control products, and its aftermarket replacement and upgrade business, which accounts for most sales, underpins its growth. Net sales reached 1122.2 million USD in fiscal 2025, and aftermarket represented about 85% of sales, making the company relevant to investors following recurring demand in pool equipment.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Hayward Holdings, Inc. (HAYW) stock was 16.98 USD (+2.91% on the day), with market capitalisation 3.5 bn USD, P/E 21.8 on diluted EPS of 0.78 USD over the last 12 months, dividend yield 0.00%, beta 1.03, 52-week range 11.35–17.31 USD. Latest reported quarter (Q3 2026): revenue of 260.1 m USD (+6.5% YoY), net income of 32.4 m USD (+34.9% YoY), diluted EPS 0.15 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 83.0
- overbought (≥ 70)
- Bollinger (20, 2)
- 9.27 – 17.22
- in the upper half of the band · %B 0.97 · band width 60.0%
- SMA 50 / 200
- 13.12 / 14.55
- mixed trend
- MACD (12, 26, 9)
- 1.04 / 0.48
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +36.6% | −1.1% | +37.7 pp | — |
| 3 months | +4.9% | −0.5% | +5.3 pp | — |
| 6 months | +13.8% | +4.4% | +9.4 pp | — |
| Year to date | +9.9% | +12.3% | −2.4 pp | — |
| 1 year | +4.9% | +13.5% | −8.7 pp | −0.4% |
| 3 years | +52.4% | +76.4% | −24.0 pp | +25.6% |
| 5 years | −30.4% | +63.7% | −94.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 26 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 327.1 m | 228.8 m | 299.6 m | 244.3 m | 349.4 m | 255.2 m | 318.4 m | 260.1 m |
| Cost of revenue | 173.8 m | 123.6 m | 152.1 m | 127.6 m | 180.1 m | 136.5 m | 163.3 m | 135.5 m |
| Gross profit | 153.3 m | 105.3 m | 147.5 m | 116.7 m | 169.3 m | 118.7 m | 155.1 m | 124.7 m |
| Research & development | 6.9 m | 6.0 m | 6.1 m | 7.1 m | 8.0 m | 6.8 m | 7.7 m | 8.6 m |
| SG&A | 58.5 m | 57.0 m | 61.5 m | 61.4 m | 67.0 m | 62.6 m | 64.3 m | 59.4 m |
| Operating income | 76.5 m | 33.5 m | 71.4 m | 41.1 m | 87.3 m | 42.5 m | 76.0 m | 50.2 m |
| Pre-tax income | 63.4 m | 18.7 m | 59.4 m | 31.2 m | 75.3 m | 30.1 m | 59.3 m | 41.1 m |
| Income tax | 8.7 m | 4.3 m | 14.6 m | 7.2 m | 6.9 m | 6.8 m | 13.6 m | 8.7 m |
| Net income | 54.7 m | 14.3 m | 44.8 m | 24.0 m | 68.4 m | 23.4 m | 45.6 m | 32.4 m |
| Diluted EPS | 0.25 ≈ | 0.06 | 0.20 | 0.11 | 0.31 ≈ | 0.11 | 0.21 | 0.15 |
| Operating cash flow | -63.7 m | -5.9 m | 194.2 m ≈ | 94.6 m ≈ | -26.9 m | -150.6 m | 322.2 m ≈ | 53.9 m ≈ |
| Capex | 6.2 m | 5.5 m | 6.9 m ≈ | 7.4 m ≈ | 8.9 m | 7.1 m | 10.3 m ≈ | 10.9 m ≈ |
| Share repurchases | 378.0 k | 0 | 0 ≈ | 0 ≈ | 5.0 m | 5.9 m | 58.5 m ≈ | 51.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 41 percentile of its own 22-quarter history (min 2.1, median 23.1, max 48.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 733.4 m | 875.4 m | 1.4 bn | 1.3 bn | 992.5 m | 1.1 bn | 1.1 bn |
| Revenue YoY | unavailable | +19.4% | +60.1% | −6.3% | −24.5% | +6.0% | +6.7% |
| Net income | 8.5 m | 43.3 m | 203.7 m | 179.3 m | 80.7 m | 118.7 m | 151.6 m |
| Net income YoY | unavailable | +408.1% | +370.5% | −12.0% | −55.0% | +47.1% | +27.7% |
| Diluted EPS | 0.05 | 0.25 | 0.49 | 0.78 | 0.37 | 0.54 | 0.68 |
| Diluted EPS YoY | unavailable | +400.0% | +96.0% | +59.2% | −52.6% | +45.9% | +25.9% |
| net % | 1.2% | 4.9% | 14.5% | 13.6% | 8.1% | 11.3% | 13.5% |
| Free cash flow | 68.9 m | 199.6 m | 163.2 m | 86.3 m | 155.6 m | 189.7 m | 227.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 329.6 m USD
- Financial debt
- 973.1 m USD
- Net debt
- 643.4 m USD
- Equity
- 1.6 bn USD
- Total assets
- 3.2 bn USD
- Debt / equity
- 0.61x
- Current ratio
- 2.94x
- ROE
- 10.0%
- ROA
- 4.9%
- FCF margin
- 20.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 875.4 m | 1.4 bn | 1.3 bn | 992.5 m | 1.1 bn | 1.1 bn | SEC (XBRL)· 25 Feb 2026verified |
| Cost of revenue | 478.4 m | 746.0 m | 717.1 m | 563.0 m | 564.6 m | 583.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Gross profit | 397.0 m | 655.8 m | 597.0 m | 429.4 m | 487.0 m | 538.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Research & development | 20.0 m | 22.9 m | 22.4 m | 24.5 m | 25.8 m | 27.2 m | SEC (XBRL)· 25 Feb 2026verified |
| SG&A | 195.2 m | 267.3 m | 248.8 m | 186.1 m | 217.1 m | 246.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | 124.6 m | 318.0 m | 285.6 m | 175.2 m | 208.8 m | 233.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Interest expense | -253.0 k | -38.0 k | -356.0 k | -7.1 m | 67.1 m | 50.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | 57.8 m | 260.1 m | 234.2 m | 101.1 m | 144.2 m | 184.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 14.5 m | 56.4 m | 54.9 m | 20.4 m | 25.5 m | 33.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 43.3 m | 203.7 m | 179.3 m | 80.7 m | 118.7 m | 151.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | 0.25 | 0.49 | 0.78 | 0.37 | 0.54 | 0.68 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 2.5 m | 200.6 m | 229.7 m | 220.7 m | 221.4 m | 222.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividend per share | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | SEC (XBRL)· 25 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 114.9 m | 265.8 m | 56.2 m | 178.1 m | 196.6 m | 329.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 140.2 m | 208.1 m | 209.1 m | 270.9 m | 278.6 m | 280.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Inventories | 145.3 m | 233.4 m | 283.7 m | 215.2 m | 216.5 m | 210.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 424.4 m | 750.5 m | 612.3 m | 724.7 m | 767.0 m | 951.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 142.3 m | — | — | — | 160.4 m | 164.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 920.3 m | 924.3 m | 932.4 m | 935.0 m | 943.6 m | 951.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.1 bn | 1.1 bn | 1.1 bn | 1.0 bn | 1.0 bn | 1.0 bn | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 2.6 bn | 3.0 bn | 2.9 bn | 2.9 bn | 3.0 bn | 3.2 bn | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 69.6 m | 87.4 m | 54.0 m | 68.9 m | 81.5 m | 77.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 2.8 m | 12.2 m | 14.5 m | 15.1 m | 14.0 m | 13.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Long-term debt | — | 995.0 m | 1.1 bn | 1.1 bn | 971.5 m | 959.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 218.7 m | 303.9 m | 232.4 m | 239.7 m | 313.0 m | 323.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Total liabilities | 1.8 bn | 1.6 bn | 1.7 bn | 1.6 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 209.3 m † | 1.4 bn † | 1.2 bn † | 1.3 bn † | 1.4 bn † | 1.6 bn † | SEC (XBRL)· 25 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 213.8 m | 189.4 m | 115.9 m | 184.5 m | 212.1 m | 256.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 14.2 m | 26.2 m | 29.6 m | 28.9 m | 22.4 m | 28.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | 199.6 m ≈ | 163.2 m ≈ | 86.3 m ≈ | 155.6 m ≈ | 189.7 m ≈ | 227.3 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -13.0 m | -48.8 m | -92.6 m | -55.4 m | -54.1 m | -103.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | -135.1 m | 11.0 m | -229.2 m | -7.6 m | -136.8 m | -20.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividends paid | 275.2 m | 0 | 0 | — | — | — | SEC (XBRL)· 28 Feb 2023verified |
| Share repurchases | 2.5 m | 9.5 m | 343.3 m | 0 | 378.0 k | 5.0 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 56 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.5 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet73
- Growth0
- Quality98
- Returns49
- Valuation46
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 11.36 – 31.73 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)11.36 – 16.59 (Mid 13.40)WACC 9.3% · starting FCFF 202.8 m USD · terminal value share of EV 72%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 6.0%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E20.18 – 31.73 (Mid 20.81)3 companies used · median multiple 26.8x · quartiles 26.0x – 40.8xALH, SXI, TNC
- Dividend discount (DDM)unavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 56/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 17.1% | 100 (on a fixed band) | 14% |
| Net margin · Quality | 14.4% | 100 (vs peers) | 8% |
| FCF conversion · Quality | 95.0% | 93 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | -5.1% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -4.5% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 5.1x | 55 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 3.3x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 21.8x | 37 (on a fixed band) | 14% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 4.6% | 57 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 3.4% | 49 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet73/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality98/100 · 3/3 factors with a value
- Returns· partial49/100 · 1/2 factors with a value
- Valuation46/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Hayward Holdings, Inc. (HAYW). Latest full fiscal year: 2025; data up to 2026-09-26.
Figures computed from the financial statements: revenue 1.1 bn USD in 2025; YoY growth 6.7%; net margin 14.4%; ROE 10.9%.
The estimated value range is 15.77–24.16 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 17.11 USD, the price of 16.98 USD leaves a potential of 0.7% (value / price − 1) and a margin of safety of 0.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 56/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 17.1%
- Net margin: 14.4%
- FCF conversion: 95.0%
- Current ratio: 3.3x
What contradicts it
- Revenue CAGR 3Y: -5.1%
- EPS CAGR 3Y: -4.5%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Refrigeration & Service Industry Machinery (SIC 3580) · same industry (4-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MIDDThe Middleby Corporation | 5.8 bn | — | -16.2% | -13.9% | unavailable | +34% / +26% |
| ALHAlliance Laundry Holdings Inc. | 4.6 bn | 25.1 | 109.8% | 10.1% | +13.3% | −3% / unavailable |
| HAYWHayward Holdings, Inc. | 3.5 bn | 21.8 | 10.9% | 14.4% | +6.7% | +5% / +52% |
| SXIStandex International Corp | 3.0 bn | 26.8 | 15.3% | 12.5% | +12.8% | +3% / +88% |
| TNCTennant Co | 1.2 bn | 54.9 | 3.9% | 1.9% | −6.5% | −0% / −15% |
| LBGJLi Bang International Corporation Inc. | 34.5 m | — | -16.6% | -9.1% | +2.9% | −100% / unavailable |
1- and 3-year price returns: for HAYW from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 9.52 Total return -44% · Per year -44% | 16.91 Total return -0% · Per year -0% | 25.59 Total return 51% · Per year 51% |
| 3 years | 7.56 Total return -55% · Per year -24% | 15.26 Total return -10% · Per year -3% | 25.59 Total return 51% · Per year 15% |
| 5 years | 6.00 Total return -65% · Per year -19% | 13.77 Total return -19% · Per year -4% | 25.59 Total return 51% · Per year 9% |
- Exit P/E± 3.82
- Net margin± 2.67
- Annual revenue growth± 2.41
- Annual dilution± 0.22
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
In brief
Hayward Holdings designs and manufactures pool equipment, outdoor living products and industrial flow control products, and its aftermarket replacement and upgrade business, which accounts for most sales, underpins its growth. Net sales reached 1122.2 million USD in fiscal 2025, and aftermarket represented about 85% of sales, making the company relevant to investors following recurring demand in pool equipment 13.
SWOT
Strengths
- The company has a large installed base of equipment, long relationships with distribution channels and a high share of aftermarket sales, which brings recurring revenue 12.
- A portfolio of energy-efficient and IoT-connected products, together with the SmartPad platform, supports pricing power and differentiation 13.
- Recently the company reduced net leverage and refinanced its debt, which strengthens financial flexibility 3.
Weaknesses
- Reliance on distributors and a few large customers means losing a key customer could affect sales 1.
- The E&RW segment is more exposed to geopolitical conflict and saw volume decline in the latest reported quarter 3.
- Sales are seasonal, and cash flow can be affected by extended Early Buy payment terms and inventory build 13.
Opportunities
- Replacement of older equipment with IoT and efficient models could keep supporting growth in the aftermarket 12.
- A growing installed base and favourable demographic trends in sunbelt regions could add demand 3.
- Acquisitions and expansion into markets with lower penetration could add products and geographies 1.
Threats
Risks
- Dependence on distributors and large customershigh
A small number of customers account for a significant share of sales, and reduced orders or the loss of a customer could affect results 1.
- Tariffs and supply costshigh
Tariffs and trade restrictions could raise the cost of raw materials and components, and those costs cannot always be passed on to customers 2.
- Demand sensitive to economy and creditmedium
Consumer spending on pools can fall in downturns or when mortgage credit is expensive, which could delay replacements 1.
- Geopolitical exposure in Europe and Rest of Worldmedium
Conflicts in the Middle East, Ukraine and Russia have already affected volumes in the E&RW segment and could continue to do so 23.
- Competition and counterfeitingmedium
Price competitors and counterfeit products could weaken differentiation and pressure gross margins 1.
Investment thesis
What would need to be true (bull case)
- The aftermarket and large installed base could provide recurring revenue, and adoption of IoT and energy-efficient products could support pricing and margins 13.
- Debt reduction and the recent refinancing could give the company more flexibility for investment and for returning capital to shareholders 3.
- If demographic trends and the upgrading of outdoor spaces continue, equipment demand could remain solid over the long term 3.
What would break the thesis
- Dependence on distributors and a few large customers could leave revenue exposed to changes in orders or inventory 1.
- Tariffs and trade uncertainty could pressure costs and margins, especially if they cannot be passed on to customers 23.
- The E&RW segment could remain weak if geopolitical tensions persist, which would limit total growth 3.
What to watch
- Developments in tariffs and in refunds under IEEPA and their effect on costs and marginsQ3 2026
- Demand in the E&RW segment and volume trends in the Middle EastQ3 2026
- Delivery of fiscal 2026 guidance, including net sales growth and adjusted diluted EPS2026
- Distributor inventory levels and the evolution of the Early Buy programnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
The business
Hayward Holdings, Inc. is a global designer and manufacturer of pool equipment, outdoor living products and industrial flow control products 1. The company describes the pool as the centerpiece of outdoor living and relies on a large installed base, long relationships with distributors and innovation in IoT and energy-efficient products 1. Founded in 1925, Hayward sells mainly through distributors, who serve thousands of pool builders and servicers 1.
Segments
North America (NAM)
The NAM segment covers the United States and Canada and accounted for about 85% of net sales in fiscal 2025 1. In the second quarter of fiscal 2026, NAM net sales rose 9%, supported by positive net price and higher volume, according to the results release 3.
Europe & Rest of World (E&RW)
The E&RW segment covers Europe, Central and South America, the Middle East, Australia and other Asia-Pacific countries 2. In the second quarter of fiscal 2026 E&RW net sales fell 8%, mainly due to lower volume tied to geopolitical conflicts in the Middle East, according to the release 3.
Market context
The company estimates the global installed base at about 25 million pools, and North America and Europe together account for roughly 67% of that base and 85% of equipment sales, according to market studies cited by the company 1. The market is dominated by aftermarket: repair and upgrade of existing equipment drive most demand, with a replacement cycle of eight to 11 years 12.
Trends
- Shift to IoT and energy-efficient productstailwind
Owners replacing equipment increasingly seek connected and energy-efficient models, and the company says these will become the main drivers of sales, which could support prices and margins if adoption continues 1.
- Tariffs and trade uncertaintyheadwind
US tariffs and retaliatory measures by other countries have created uncertainty, could reduce demand and could raise supply costs that cannot be passed on to customers, although the company has received some tariff refunds 2.
- Seasonality and the Early Buy programmixed
Sales are concentrated in the second and fourth quarters, and the Early Buy program with discounts and extended payment terms shifts revenue and cash flow over time 12.
- Geopolitical conflicts in the Middle Eastheadwind
Conflicts in the Middle East, Ukraine and Russia have reduced demand in some markets, particularly in E&RW, and this could continue if tensions worsen 23.
Competitive position
The pool equipment market is highly competitive, with large national and global companies, regional niche OEMs and lower-cost manufacturers, and some smaller competitors compete mainly on price 1. Hayward relies on brand recognition, distributor relationships, its installed base and technical innovation to defend its position 1.
- Pool CorporationPOOL
Major US pool products distributor cited among the principal sales channels in the residential market 1.
- Heritage Pool Supply Group
US pool equipment distributor mentioned among the channels through which residential products are sold 1.
- Baystate Pool Supplies
US pool equipment distributor cited as part of the market's distribution channels 1.
- Regional and niche OEMs
Local and regional manufacturers, along with lower-cost producers, that compete mainly on price and local relationships, especially on products without significant engineering complexity 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Hayward Wright appoints new business development managerYahoo Finance — News · 02 Sept 2026 · EN
The latest news item in our archive is from 02 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report28 Oct 2026
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Current report02 Oct 2026Departure or appointment of officers
- Quarterly report29 Jul 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report23 Jun 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report22 May 2026Shareholder vote
- Quarterly report29 Apr 2026
- Current report29 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement02 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Hayward Holdings, Inc. · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-27 · SEC / Hayward Holdings, Inc. · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Hayward Holdings, Inc. · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.