SWIM · Nasdaq · Industrials
Latham Group, Inc. (SWIM) — Rank #319 by gross profitability (GP/assets 0.21) · ROE 2.7% · Piotroski F-Score 8 / 9.
As-of 2026-10-30 · CIK 0001833197 · all metrics point-in-time as of the filing date.
About
Latham Group, Inc. designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand.
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The company offers in-ground swimming pools, including fiberglass and packaged pools; and covers, such as automatic safety and all-season pool covers; and liners. It sells its products directly to dealers and distributors who warehouse the products and sell to dealers under the Latham, The Pool Company brand name, as well as sub-brands comprising Narellan, CoverStar, Radiant, and GLI brands. The company was formerly known as Latham Topco, Inc. and changed its name to Latham Group, Inc. in March 2021. Latham Group, Inc.
was founded in 1956 and is headquartered in Latham, New York.
- Industry
- Building Products & Equipment
- Sector
- Industrials
- State
- NY
- Filer Category
- Emerging growth company
- Fiscal Year End
- December 31
- Website
- lathampool.com
Company Snapshot
P/E and dividend yield are the primary valuation lenses for mature businesses.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
1,900
Industry
Building Products & Equipment
Exchange
Nasdaq
11/12
Flags passed
SWIM passes 11/12 quality flags
1 caution to review
- CAUTIONDilution above 2%
Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
- PASSGross margin holding
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passDividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).
Profitability
Does it make money well?
No warning flags · GP/assets 0.21
Gross profitability (GP / assets)
0.21
Primary signal (Novy-Marx).
4th of 5 SIC 30 peers
Return on equity
2.7%
Gross margin
33.4%
5th of 5 SIC 30 peers
Revenue growth (YoY)
7.4%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-7.8%
Revenue CAGR (5Y)
6.2%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
—
Cash Flow Health
Is the cash real?
No warning flags · FCF 242% above net income
Free cash flow
$38.05M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
242.0%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
1.7%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
Caution: Dilution above 2% · net debt $236.33M, F-Score 8/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.09
2nd of 5 SIC 30 peers (best = lowest)
Current ratio
2.16×
2nd of 5 SIC 30 peers
Quick ratio
1.24×
Net cash
-$236.33M
Cash & equivalents minus total debt.
Piotroski F-Score
8 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Capital allocation quality
Composite score
2.3 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports