Hayward (HAYW) financial statements
Hayward reported revenue of $1.1B in fiscal 2025, up 7.3% a year over 6 years.
Net income was $152M and the operating margin 20.8%, against 13.5% in 2019.
Free cash flow was $225M, and the company returned $5M in net buybacks.
The diluted share count rose 9022% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Hayward's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $733M | $875M | $1.4B | $1.3B | $992M | $1.1B | $1.1B |
| Cost of revenue | $410M | $478M | $746M | $717M | $563M | $565M | $583M |
| Gross profit | $324M | $397M | $656M | $597M | $429M | $487M | $539M |
| Research and development | $20M | $20M | $23M | $22M | $25M | $26M | $27M |
| Selling, general and admin | $179M | $195M | $267M | $249M | $186M | $217M | $247M |
| Operating income | $99M | $125M | $318M | $286M | $175M | $209M | $233M |
| Interest expense | -$121,000 | -$253,000 | -$38,000 | -$356,000 | -$7M | $67M | $50M |
| Pre-tax income | $12M | $58M | $260M | $234M | $101M | $144M | $185M |
| Income tax | $4M | $14M | $56M | $55M | $20M | $26M | $33M |
| Net income | $9M | $43M | $204M | $179M | $81M | $119M | $152M |
| EPS (diluted) | $0.05 | $0.25 | $0.49 | $0.78 | $0.37 | $0.54 | $0.68 |
| Diluted shares | 2M | 2M | 201M | 230M | 221M | 221M | 222M |
| Gross margin | 44.1% | 45.4% | 46.8% | 45.4% | 43.3% | 46.3% | 48.0% |
| Operating margin | 13.5% | 14.2% | 22.7% | 21.7% | 17.7% | 19.9% | 20.8% |
| Net margin | 1.2% | 4.9% | 14.5% | 13.6% | 8.1% | 11.3% | 13.5% |
Balance sheet
Fiscal years, from Hayward's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $47M | $115M | $266M | $56M | $203M | $197M | $399M |
| Receivables | — | $140M | $208M | $209M | $271M | $279M | $280M |
| Inventory | — | $145M | $233M | $284M | $215M | $216M | $211M |
| Total current assets | — | $424M | $751M | $612M | $725M | $767M | $951M |
| Property, plant and equipment | — | $142M | $147M | $150M | $159M | $160M | $165M |
| Goodwill | $915M | $920M | $924M | $932M | $935M | $944M | $951M |
| Total assets | — | $2.6B | $3.0B | $2.9B | $2.9B | $3.0B | $3.2B |
| Total current liabilities | — | $219M | $304M | $232M | $240M | $313M | $323M |
| Long-term debt | — | $1.3B | $973M | $1.1B | $1.1B | $951M | $944M |
| Total liabilities | — | $1.8B | $1.6B | $1.7B | $1.6B | $1.6B | $1.6B |
| Shareholders' equity | $164M | $209M | $1.4B | $1.2B | $1.3B | $1.4B | $1.6B |
| Net debt | -$47M | $1.2B | $707M | $1.0B | $901M | $754M | $614M |
Cash flow
Fiscal years, from Hayward's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $94M | $214M | $189M | $116M | $185M | $212M | $256M |
| Capital spending | $25M | $14M | $26M | $30M | $31M | $24M | $31M |
| Free cash flow | $69M | $200M | $163M | $86M | $154M | $188M | $225M |
| Stock-based compensation | $2M | $2M | $15M | $8M | $9M | $11M | $13M |
| Dividends paid | $211,000 | $275M | $0 | $0 | — | — | — |
| Share buybacks (net) | -$1M | -$2M | -$10M | -$343M | $0 | -$378,000 | -$5M |
| Net borrowing | -$28M | $146M | -$318M | $119M | -$7M | -$136M | -$13M |
| Free cash flow margin | 9.4% | 22.8% | 11.6% | 6.6% | 15.5% | 17.9% | 20.1% |
| Dividends per share | $0.09 | $111.47 | — | — | — | — | — |
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What was Hayward's revenue in 2025?
$1.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does Hayward generate?
$225M in fiscal 2025 (operating cash flow minus capital spending).
From Hayward's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.