olivLaw · US equity research
POOL Corporation POOL
Wholesale-Misc Durable Goods · SIC 5090 · Vertical: Wholesale — durable goods (SIC 509x)
POOL Corporation is the world's largest wholesale distributor of swimming pool products, operating 456 sales centers across North America, Europe and Australia at the end of 2025. Its business relies on a large share of recurring maintenance sales, which supports it when discretionary consumer spending weakens, as in 2026. Net sales were 5.3 billion USD in 2025, and sales in 2026 are growing modestly.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, POOL Corporation (POOL) stock was 219.26 USD (+5.79% on the day), with market capitalisation 7.8 bn USD, P/E 20.2 on diluted EPS of 10.88 USD over the last 12 months, dividend yield 2.33%, beta 0.66, 52-week range 154.14–271.48 USD. Latest reported quarter (Q3 2026): revenue of 1.5 bn USD (+3.7% YoY), net income of 123.0 m USD (−3.1% YoY), diluted EPS 3.40 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)
- 74.9
- overbought (≥ 70)
- Bollinger (20, 2)
- 143.10 – 225.14
- in the upper half of the band · %B 0.93 · band width 44.6%
- SMA 50 / 200
- 176.48 / 201.57
- mixed trend
- MACD (12, 26, 9)
- 11.70 / 7.68
- 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 | +37.6% | −1.1% | +38.7 pp | — |
| 3 months | +6.1% | −0.5% | +6.6 pp | — |
| 6 months | +16.6% | +4.4% | +12.2 pp | — |
| Year to date | −4.1% | +12.3% | −16.5 pp | — |
| 1 year | −15.0% | +13.5% | −28.6 pp | −37.4% |
| 3 years | −34.9% | +76.4% | −111.3 pp | +38.8% |
| 5 years | −57.7% | +63.7% | −121.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 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 | 987.5 m | 1.1 bn | 1.8 bn | 1.5 bn | 982.2 m | 1.1 bn | 1.8 bn | 1.5 bn |
| Cost of revenue | 697.2 m | 759.2 m | 1.2 bn | 1.0 bn | 686.5 m | 808.1 m | 1.3 bn | 1.1 bn |
| Gross profit | 290.2 m | 312.4 m | 535.2 m | 429.2 m | 295.7 m | 329.9 m | 540.8 m | 436.3 m |
| SG&A | 229.6 m | 234.8 m | 262.5 m | 251.2 m | 243.7 m | 247.3 m | 273.1 m | 264.1 m |
| Operating income | 60.7 m | 77.5 m | 272.7 m | 178.0 m | 52.0 m | 82.6 m | 267.7 m | 172.2 m |
| Pre-tax income | 50.2 m | 66.4 m | 260.5 m | 166.0 m | 40.6 m | 70.2 m | 253.4 m | 160.4 m |
| Income tax | 12.9 m | 12.9 m | 66.2 m | 39.0 m | 9.1 m | 17.0 m | 65.3 m | 37.4 m |
| Net income | 37.3 m | 53.5 m | 194.3 m | 127.0 m | 31.6 m | 53.2 m | 188.1 m | 123.0 m |
| Diluted EPS | 0.98 ≈ | 1.42 | 5.17 | 3.40 | 0.86 ≈ | 1.45 | 5.17 | 3.40 |
| Operating cash flow | 170.6 m | 27.2 m | -28.8 m ≈ | 287.3 m ≈ | 80.1 m | 25.7 m | -26.5 m ≈ | 420.6 m ≈ |
| Capex | 13.5 m | 13.3 m | 14.1 m ≈ | 20.7 m ≈ | 8.2 m | 8.6 m | 28.0 m ≈ | 13.2 m ≈ |
| Dividends paid | 45.5 m | 45.2 m | 46.9 m ≈ | 46.5 m ≈ | 46.3 m | 45.8 m | 47.2 m ≈ | 47.1 m ≈ |
| Share repurchases | 146.9 m | 56.3 m | 104.3 m ≈ | 3.2 m ≈ | 182.4 m | 64.4 m | 22.0 m ≈ | 111.6 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 15 percentile of its own 40-quarter history (min 14.9, median 29.2, max 41.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.0 bn | 3.2 bn | 3.9 bn | 5.3 bn | 6.2 bn | 5.5 bn | 5.3 bn | 5.3 bn |
| Revenue YoY | +7.5% | +6.7% | +23.0% | +34.5% | +16.7% | −10.3% | −4.2% | −0.4% |
| Net income | 234.5 m | 261.6 m | 366.7 m | 650.6 m | 748.5 m | 523.2 m | 434.3 m | 406.4 m |
| Net income YoY | +22.3% | +11.6% | +40.2% | +77.4% | +15.0% | −30.1% | −17.0% | −6.4% |
| Diluted EPS | 5.62 | 6.40 | 8.97 | 15.97 | 18.70 | 13.35 | 11.30 | 10.85 |
| Diluted EPS YoY | +24.6% | +13.9% | +40.2% | +78.0% | +17.1% | −28.6% | −15.4% | −4.0% |
| net % | 7.8% | 8.2% | 9.3% | 12.3% | 12.1% | 9.4% | 8.2% | 7.7% |
| Free cash flow | 87.1 m | 265.4 m | 375.9 m | 275.8 m | 441.2 m | 828.1 m | 599.7 m | 309.5 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 105.0 m USD
- Financial debt
- 1.2 bn USD
- Net debt
- 1.1 bn USD
- Equity
- 1.2 bn USD
- Total assets
- 3.6 bn USD
- Debt / equity
- 1.01x
- Current ratio
- 2.24x
- ROE
- 33.1%
- ROA
- 11.6%
- FCF margin
- 5.9%
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 | 3.9 bn | 5.3 bn | 6.2 bn | 5.5 bn | 5.3 bn | 5.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 2.8 bn | 3.7 bn | 4.2 bn | 3.9 bn | 3.7 bn | 3.7 bn | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 1.1 bn | 1.6 bn | 1.9 bn | 1.7 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 26 Feb 2026verified |
| SG&A | 659.9 m | 784.3 m | 907.6 m | 913.5 m | 958.1 m | 992.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 464.0 m | 832.8 m | 1.0 bn | 746.6 m | 617.2 m | 580.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 451.7 m | 824.1 m | 984.9 m | 688.1 m | 567.0 m | 533.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 85.2 m | 173.8 m | 236.8 m | 165.1 m | 132.8 m | 127.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 366.7 m | 650.6 m | 748.5 m | 523.2 m | 434.3 m | 406.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 8.97 | 15.97 | 18.70 | 13.35 | 11.30 | 10.85 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 40.9 m | 40.5 m | 39.8 m | 39.0 m | 38.2 m | 37.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | 2.29 | 2.98 | 3.80 | 4.30 | 4.70 | 4.95 | SEC (XBRL)· 26 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 34.1 m | 24.3 m | 45.6 m | 66.5 m | 77.9 m | 105.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 781.0 m | 1.3 bn | 1.6 bn | 1.4 bn | 1.3 bn | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 1.1 bn | 1.8 bn | 2.0 bn | 1.8 bn | 1.7 bn | 2.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 108.2 m | 179.0 m | 193.7 m | 223.9 m | 251.3 m | 267.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 268.2 m | 688.4 m | 692.0 m | 700.1 m | 698.9 m | 707.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 12.2 m | 312.8 m | 305.5 m | 298.3 m | 290.7 m | 283.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 1.7 bn | 3.2 bn | 3.6 bn | 3.4 bn | 3.4 bn | 3.6 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 266.8 m | 398.7 m | 406.7 m | 508.7 m | 525.2 m | 652.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 11.9 m | 11.8 m | 25.0 m | 38.2 m | 49.5 m | 13.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 404.1 m | 1.2 bn | 1.4 bn | 1.0 bn | 900.9 m | 1.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 483.2 m | 744.4 m | 675.7 m | 770.8 m | 844.2 m | 880.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 1.1 bn | 2.2 bn | 2.3 bn | 2.1 bn | 2.1 bn | 2.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 639.5 m † | 1.1 bn † | 1.2 bn † | 1.3 bn † | 1.3 bn † | 1.2 bn † | SEC (XBRL)· 26 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 | 397.6 m | 313.5 m | 484.9 m | 888.2 m | 659.2 m | 365.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 21.7 m | 37.7 m | 43.6 m | 60.1 m | 59.5 m | 56.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 375.9 m ≈ | 275.8 m ≈ | 441.2 m ≈ | 828.1 m ≈ | 599.7 m ≈ | 309.5 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -146.3 m | -849.6 m | -50.9 m | -71.6 m | -66.2 m | -67.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -244.4 m | 526.1 m | -411.7 m | -798.1 m | -576.6 m | -273.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 91.9 m | 119.6 m | 150.6 m | 167.5 m | 179.6 m | 184.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 76.2 m | 138.0 m | 471.2 m | 306.4 m | 306.3 m | 346.3 m | SEC (XBRL)· 26 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
1 indicators that do not apply to the sector.
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: 7.8 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet100
- Growth0
- Quality88
- Returns100
- Valuation31
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: 52.74 – 183.64 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)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E52.74 – 183.64 (Mid 149.20)5 companies used · median multiple 13.7x · quartiles 4.8x – 16.9xAENT, CNM, GOLD, SORA, YDDL
- Dividend discount (DDM)65.05 – 87.48 (Mid 74.61)
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 | 18.8% | 100 (on a fixed band) | 14% |
| Net margin · Quality | 7.3% | 57 (vs peers) | 9% |
| FCF conversion · Quality | 111.6% | 100 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -5.1% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -16.6% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.5x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 20.2x | 0 (vs peers) | 14% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.6% | 71 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 7.2% | 100 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | 42.2% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality88/100 · 3/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation31/100 · 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
POOL CORPORATION (POOL). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 5.3 bn USD in 2025; YoY growth -0.4%; net margin 7.3%; ROE 30.4%.
The estimated value range is 58.90–135.56 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 111.91 USD, the price of 219.26 USD leaves a potential of -49.0% (value / price − 1) and a margin of safety of -95.9% (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: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 18.8%
- FCF conversion: 111.6%
- Current ratio: 2.5x
- FCF yield: 5.6%
- Shareholder yield (distributions): 7.2%
- Payout ratio (FCF): 42.2%
What contradicts it
- Revenue CAGR 3Y: -5.1%
- EPS CAGR 3Y: -16.6%
- P/E (TTM): 20.2x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Wholesale — durable goods (SIC 509x) · same industry group (3-digit SIC) · compared with 7 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 | |
|---|---|---|---|---|---|---|
| POOLPool Corporation | 7.8 bn | 20.2 | 30.4% | 7.3% | −0.4% | −15% / −35% |
| GOLDGold.com, Inc. | 1.2 bn | 13.7 | 10.8% | 0.3% | +132.4% | +44% / +45% |
| AENTAlliance Entertainment Holding Corporation | 223.6 m | 16.9 | 11.9% | 483.6% | 0.0% | −34% / +362% |
| SORAAsiaStrategy | 60.4 m | 4.8 | 106.1% | 111.9% | −37.7% | −37% / unavailable |
| BGMSBio Green Med Solution, Inc. | 5.9 m | — | -40.8% | -204.0% | −100.0% | −41% / −100% |
| GNLNGreenlane Holdings, Inc. | 871.7 k | — | -534.0% | -4,630.6% | −67.2% | −95% / −100% |
| CNMCore & Main, Inc. | — | 20.1 | 23.4% | 6.0% | +2.8% | +1% / +39% |
| YDDLOne and one Green Technologies. INC | — | 4.6 | 37.8% | 17.9% | +23.1% | −79% / unavailable |
1- and 3-year price returns: for POOL 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 | 119.47 Total return -44% · Per year -44% | 212.28 Total return -1% · Per year -1% | 321.21 Total return 49% · Per year 49% |
| 3 years | 94.86 Total return -52% · Per year -22% | 191.58 Total return -6% · Per year -2% | 321.21 Total return 55% · Per year 16% |
| 5 years | 75.33 Total return -59% · Per year -16% | 172.90 Total return -11% · Per year -2% | 321.21 Total return 60% · Per year 10% |
- Exit P/E± 47.90
- Net margin± 33.53
- Annual revenue growth± 30.28
- Annual dilution± 2.82
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 22 Oct 2026; since then the company filed 10-Q (28 Oct 2026).
In brief
POOL Corporation is the world's largest wholesale distributor of swimming pool products, operating 456 sales centers across North America, Europe and Australia at the end of 2025. Its business relies on a large share of recurring maintenance sales, which supports it when discretionary consumer spending weakens, as in 2026. Net sales were 5.3 billion USD in 2025, and sales in 2026 are growing modestly.
SWOT
Strengths
- Position as the largest pool distributor in the world, an extensive network of sales centers and a very broad product range.
- A large share of recurring maintenance sales that supports results even when discretionary spending declines.
- Supplier relationships and digital ordering systems that improve service and operational efficiency.
Weaknesses
- High dependence on seasonality and weather, with much of sales and profit concentrated in the summer quarters.
- High geographic exposure to a few states, especially California, Florida, Texas and Arizona.
- Gross margin under pressure from freight costs and customer mix, which reduced operating profit in some quarters.
Opportunities
- Opening new sales centers and selective acquisitions could widen geographic reach and product range.
- Expanding proprietary and exclusive brands could improve margins.
- Growth in energy-efficient and environmentally friendly products could attract owners who upgrade their yards.
Threats
- Major suppliers could sell directly to retailers or consumers, bypassing distributors.
- Mass merchants and online retailers could become stronger competitors if they expand their pool offering.
- Extreme weather events and water-use restrictions could reduce installations and maintenance activity.
Risks
- Consumer-sensitive demandhigh
A drop in discretionary spending, affordable credit or housing activity could reduce remodeling and new pool sales.
- Seasonality and weatherhigh
Summer quarters concentrate much of sales and profit, so unfavorable weather or natural disasters could affect results.
- Supplier relationshipsmedium
If major suppliers sold directly or reduced rebates, costs could rise and gross margin could fall.
- Margin pressuremedium
Higher inbound freight costs and shifts in customer mix could continue to reduce gross margin in the coming year.
- Geographic concentrationlow
If the largest markets in a few states weakened, the impact on total sales could be significant.
Investment thesis
What would need to be true (bull case)
- If maintenance and remodeling sales keep growing, the company could sustain stable results even in a difficult economy.
- Its leading distribution position and sales center network could allow it to gain market share through acquisitions and openings.
- Strong operating cash flow could support dividends and share repurchase programs.
What would break the thesis
- If credit stays expensive, new pool construction could keep declining and weigh on equipment sales.
- Gross margin under pressure could reduce profitability if freight and inflation cannot be fully passed on to customers.
- Competition from mass merchants and online retailers could limit the company's ability to hold prices.
What to watch
- Sales and gross margin trends against the full-year outlookQ4 2026
- Confirmation of the 2026 adjusted diluted EPS rangeQ4 2026
- 2027 outlook, including expectations for sales and operating expenses2027
- Number of new sales centers and any acquisitions disclosed in the next annual reportnext 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 22 Oct 2026; since then the company filed 10-Q (28 Oct 2026).
The business
POOL Corporation, a member of the S&P 500 Index, distributes swimming pool supplies, equipment and related leisure products, as well as irrigation and landscape maintenance products in the United States. Its customers include pool builders and service companies, specialty retailers, commercial pool operators and landscape contractors, most of them small family-owned businesses. Products are distributed through five networks, including SCP Distributors, Superior Pool Products, Horizon Distributors, National Pool Trends and Sun Wholesale Supply. The company states that it adds value by buying from many manufacturers and distributing efficiently with high customer service on more favorable terms than customers could get alone.
Segments
Maintenance and repair
Recurring maintenance and minor repair of existing installations made up 64% of 2025 sales and is the most stable part of the business, since chemicals, parts and equipment are needed regardless of the economic cycle. Pool and hot tub chemicals represented about 14% of 2025 net sales.
Remodeling and upgrades
Pool remodeling, renovation and upgrade projects represented 22% of 2025 sales. This activity is more sensitive to home values, existing home sales and consumer confidence, so it can be deferred in uncertain periods.
New pool construction
New pool construction represented 14% of 2025 sales and is the most exposed to the housing cycle and the cost of credit. The company estimated that new in-ground pool construction units fell from about 62,000 in 2024 to just below 60,000 in 2025.
Market context
The outdoor living industry services more than 14.0 million swimming pools and hot tubs in the United States alone, including about 5.5 million in-ground pools. Management expects the industry to keep growing as more households with discretionary income and yard space install pools. Irrigation and landscape maintenance have similar long-term potential but are more closely tied to new home construction.
Trends
- Migration to the Southtailwind
Population movement toward the southern United States, where outdoor entertainment is more common, supports long-term demand for pools and related products.
- Cost of credit and housingheadwind
Higher interest rates and economic uncertainty have reduced discretionary spending and new pool construction, although consumers prefer upgrading their yards instead of moving.
- Product cost inflationmixed
Supplier price increases can be passed on to customers, but inflation and 2025 tariffs added costs, and the company cited higher inbound freight costs in 2026.
- Digital efficiencytailwind
The POOL360 and Horizon 24/7 B2B platforms and mobile ordering tools are used to increase customer capacity and reduce operating effort, which could support margins over the long term.
Competitive position
The company competes with national, regional and local distributors, and low barriers to entry in the industry attract new competitors. Indirectly it competes with store-based mass merchants and large specialty retailers that buy most supplies directly from manufacturers, as well as with internet retailers. Competition is most intense in dense markets such as California, Florida, Texas and Arizona.
- Regional and local distributors
Operate in limited areas and can compete on price and service for the same builders and service companies.
- Store-based mass market retailers
Have greater scale and bargaining power, and could become direct competitors if they expand their pool product range.
- Internet retailers
Ease market entry, price transparency and comparison, although they mainly buy from distributors.
- Large pool and irrigation supply retailers
Buy most supplies directly from manufacturers and compete indirectly for end customers and market share.
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
No news in our archive over the last 180 days.
SEC filings
- Current report02 Nov 2026Other events
- Current report28 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report28 Oct 2026
- Current report22 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report09 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report25 Sept 2026Departure or appointment of officers · Financial statements and exhibits
- Current report28 Aug 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report29 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report23 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / POOL Corporation · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / POOL Corporation · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / POOL Corporation · 22 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.