Hayward Holdings, Inc.

Hayward Holdings designs and manufactures pool equipment, outdoor living products, and industrial flow control products. Its core business is selling replacement and upgrade equipment for installed pools, with demand driven by aftermarket repairs, remodeling, and adoption of connected and energy-efficient products.

22,8 %

48,0 %

13,5 %

+6,7 %

2.94

2.29

— Hayward Holdings, Inc.
%
Pool equipment80% Residential and commercial pool circulation, filtration, heating, cleaning, and sanitization products.
Outdoor living technology5% Connected controls, lighting, and energy-efficient products that improve pool ownership and backyard experience.
Industrial flow control15% Thermoplastic valves and process liquid control products sold into industrial applications.

Hayward sells mainly through distributors, but also directly to builders, retailers, servicers, buying groups, and...

  • Distributorsprimary

    Buy most of the company's pool equipment for stocking and resale to the trade; they are the main route to market and a major source of volume.

  • Builders and servicersprimary

    Buy equipment used in new pool construction, maintenance, repair, and upgrades, and strongly influence product selection.

  • Retailers and e-commerce customerssecondary

    Purchase directly for broader geographic reach and consumer access, especially where large-scale inventory management is feasible.

  • Buying groupssecondary

    Independent member groups that buy with negotiated pricing and incentives, supporting channel penetration.

  • Industrial customerssecondary

    Buy flow control products for liquid handling applications outside the pool market.

Hayward operates globally but is concentrated in North America and Europe, which together account for most pool...

  • •North America is the largest segment and includes the U.S. and Canada
  • •Europe & Rest of World covers Europe, Latin America, the Middle East, Australia, and Asia Pacific
  • •Seven manufacturing facilities span the U.S., Spain, and China
  • •U.S. distribution is supported by East Coast and West Coast centers
  • •Regional mix matters because pool markets, channel structure, and seasonality differ by geography

Hayward is focused on monetizing its installed base through aftermarket replacements, upgrades, and recurring...

01
Increase aftermarket mixshort-term

Aftermarket sales are recurring and tied to the installed base, supporting steadier demand and margins.

02
Expand IoT and energy-efficient offeringsmedium-term

Higher-value connected and efficient products support differentiation and premium pricing.

03
Protect channel relationshipsmedium-term

Distributors, builders, and servicers are the main route to market and influence end-customer choice.

04
Maintain liquidity and balance sheet flexibilityshort-term

Working capital, debt service, and seasonal swings require reliable cash generation and access to credit.

Hayward’s results depend heavily on distributors, builders, and servicers, so customer concentration and inventory...

high

Customer concentration

A small number of distributors account for a large share of sales and receivables, so lost volume would hit revenue and cash collection.

Scope
Pool Corporation represented about 33% of net sales in Fiscal 2025
Materiality
high
high

Channel inventory destocking

Distributors control stocking levels, so their purchasing decisions can temporarily depress shipments even if end demand is stable.

Scope
Pool trade channel and buying groups
Materiality
high
medium

Competitive pressure

The company competes with national, global, regional, and low-cost manufacturers across multiple price points.

Scope
Pool equipment and flow control products
Materiality
medium
medium

International operating risk

Manufacturing and sales across multiple regions expose the company to currency, logistics, and geopolitical disruptions.

Scope
Spain, China, Europe, Asia Pacific, Latin America
Materiality
medium
medium

Goodwill and intangible impairment

Acquisitions and brand value must be supported by future cash flows; weaker performance could trigger write-downs.

Scope
Acquired businesses and indefinite-lived intangibles
Materiality
high
Revenue recognition and variable consideration
Net sales and accounts receivable
Customer rebates
Gross sales, receivables, and accrued liabilities
Seasonality
Quarterly revenue, margins, and cash flow
Goodwill and indefinite-lived intangibles
Potential impairment charges
Warranty and freight accruals
Gross margin and operating expense

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: 28/04/2026