Fluidra SA FLDAY

IndustrialsLeisure ProductsSpain

Last close 10.23 USD on Nov 2, 2026, – year to date

Quant rating

Quant rating D Rank 333 of 418 in Industrials

Growth C 224 of 418
Valuation D 340 of 418
Quality C 196 of 418
Revisions C 208 of 418
Momentum D 397 of 418

Wall Street consensus Buy (2.06)Average target 29.00 USD +183.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,609	2,212	2,299	2,599	2,522	–
Revenue growth	17.9%	−3.8%	−11.5%	3.0%	36.7%	7.2%
EPS (basic, normalized)	1.53	1.26	1.19	1.48	1.93	–
EPS growth	21.9%	5.9%	−20.0%	−23.0%	–	–
Gross margin	55.3%	54.8%	51.9%	50.6%	52.4%	53.0%
Net margin	7.9%	6.5%	5.5%	6.6%	11.4%	7.6%
ROE	10.9%	8.6%	7.0%	9.7%	16.6%	10.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	196
Current ratio	1.79x
Long-term debt (mil)	1,171
Net debt (mil)	1,007
Total equity (mil)	1,783
Net debt / equity	0.56x
Net debt / EBITDA	1.70x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,609	+17.9%	2.0x	591	+19.8%	8.8x	1.53	+21.9%	6.7x
2026	2,528	−3.1%	2.1x	583	−1.3%	8.9x	1.48	−3.7%	6.9x
2027	2,660	+5.2%	2.0x	635	+8.8%	8.2x	1.69	+14.5%	6.1x
2028	2,781	+4.5%	1.9x	684	+7.7%	7.6x	1.88	+11.4%	5.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,528	−0.1%	−0.1%	0.0%	1.48	+0.7%	+0.1%	+0.1%
2027	2,660	−0.2%	−0.3%	−0.1%	1.69	+0.1%	−0.7%	−3.0%
2028	2,781	−0.4%	−0.7%	−0.9%	1.88	−0.6%	−1.4%	−3.6%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	527	643	466	465	564	663	497	497	564	694
Sales mean (mil)	531	644	458	447	562	664	490	470	567	689
Surprise	−0.7%	−0.2%	+1.8%	+3.9%	+0.3%	−0.2%	+1.4%	+5.8%	−0.6%	+0.7%
EPS reported	0.31	0.51	0.19	0.20	0.35	0.54	0.15	0.26	0.32	0.59
EPS mean	0.18	0.47	0.18	0.18	0.35	0.54	0.21	0.23	0.35	0.56
Surprise	+72.2%	+8.5%	+3.0%	+12.9%	+0.1%	+0.5%	−27.0%	+11.3%	−8.9%	+5.5%

Peer comparison Leisure Products

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
FLDAY Fluidra SA	4.2B	1.70x	7.9%	2.36x	6.9x	6.1x	8.9x	8.2x
GOLF Acushnet Holdings Corp	5.2B	2.18x	7.4%	5.65x	22.0x	21.7x	13.3x	13.4x
BC Brunswick Corp	5.1B	2.73x	−2.5%	3.05x	17.3x	14.7x	9.6x	8.7x
MAT Mattel Inc	4.4B	1.95x	7.4%	2.22x	12.0x	9.9x	7.4x	6.8x
THO THOR Industries, Inc.	4.1B	0.82x	1.8%	0.96x	22.2x	16.5x	8.4x	7.4x
YAMCY YAMAHA CORPORATION	3.6B	−1.98x	5.1%	1.09x	16.9x	15.8x	7.3x	7.3x
Mean		1.23x	4.5%	2.56x	16.2x	14.1x	9.1x	8.6x
Median		1.83x	6.2%	2.29x	17.1x	15.2x	8.7x	7.8x

Technical analysis

1M–
3M–
1Y–
3Y+12.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Fluidra SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,609	2,212	2,299	2,599	2,522	1,845
Cost of revenue	1,166	1,000	1,105	1,285	1,201	874
Gross profit	1,442	1,212	1,194	1,314	1,321	971
Selling, general & administrative expenses	563	482	479	495	461	376
Research & development	–	–	–	–	–	–
Depreciation/amortization	191	167	174	168	139	142
Interest expense (income), operating	0.1	0	0.1	0.1	0	0.2
Unusual expense (income)	−3.2	2.4	−0.3	8.6	2.4	3.1
Other operating expenses	330	294	282	316	284	226
Operating income	362	267	260	326	433	224
Net interest income (expense)	−78.6	−65.7	−82.4	−71.6	−48.8	−58.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	2.3	−1.3	−3.5	−13.3	−1.0	4.0
Net income before taxes	285	200	175	241	384	170
Provision for taxes	75.2	52.8	45.6	65.0	92.7	47.8
Minority interest	−3.3	−4.1	−3.3	−4.8	−4.1	−4.3
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	207	143	126	171	287	118
Extraordinary items	–	–	–	–	–	0
Net income	207	143	126	171	287	118
EBIT, normalized	358	269	260	334	436	228
EBITDA, normalized	548	436	434	503	575	369
Basic EPS, normalized	1.53	1.26	1.19	1.48	1.93	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Fluidra SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	147	170	130	87.0	112	289
Receivables	308	301	302	305	292	305
Total inventory	513	483	471	641	564	344
Prepaid expenses	–	–	–	–	–	–
Other current assets	5.4	0.1	7.0	8.7	6.2	0
Total current assets	973	954	910	1,042	974	938
Property, plant & equipment	436	368	403	383	355	268
Goodwill	1,490	1,391	1,431	1,399	1,432	1,313
Intangibles	867	901	967	1,013	1,086	784
Long-term investments	118	11.7	8.6	7.9	8.3	9.0
Note receivable	0.4	2.2	2.1	3.8	4.3	4.5
Other long-term assets	125	137	149	190	126	110
Total assets	4,010	3,766	3,871	4,038	3,986	3,427
Liabilities
Accounts payable	265	279	234	228	–	274
Payable/accrued	–	–	–	–	469	–
Accrued expenses	63.6	60.0	55.0	48.7	–	50.9
Short-term debt	1.4	3.5	5.3	95.1	0	1.2
Current portion of long-term debt	70.4	60.7	62.1	54.8	35.4	50.7
Other current liabilities	146	129	161	174	403	113
Total current liabilities	547	532	518	601	907	490
Long-term debt	1,366	1,302	1,369	1,362	155	932
Minority interest	10.3	10.4	9.9	9.5	9.5	8.2
Other liabilities	218	216	244	278	1,079	261
Total liabilities	2,141	2,060	2,141	2,251	2,151	1,691
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	226	199	212	206	222	239
Additional paid-in capital	1,349	1,189	1,268	1,229	1,306	1,403
Retained earnings (accumulated deficit)	391	277	243	360	496	228
Treasury stock	−60.1	−52.2	−46.5	−121	−192	−43.8
Other equity	−36.1	92.5	53.6	113	2.7	−90.3
Total equity	1,870	1,705	1,730	1,787	1,835	1,736
Total liabilities & shareholders' equity	4,010	3,766	3,871	4,038	3,986	3,427

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Fluidra SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	285	200	175	241	384	170
Depreciation, depletion & amortization	189	167	174	168	139	142
Deferred taxes	–	–	–	–	–	–
Non-cash items	72.5	83.6	65.6	120	93.6	87.7
Changes in working capital	−145	−129	59.7	−401	−227	−42.8
Cash from operations	402	322	473	129	389	357
Investing activities
Capital expenditures	−83.5	−75.7	−70.8	−83.9	−81.2	−50.5
Other investing cash flows	−132	−1.2	−33.3	−17.1	−492	−23.6
Cash from investing	−216	−76.9	−104	−101	−573	−74.1
Financing activities
Financing cash flow items	0	0	–	0	0.1	0
Cash dividends paid	−137	−112	−148	−174	−88.3	−52.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−76.0	−85.8	−176	134	109	−239
Cash from financing	−213	−197	−324	−40.7	20.6	−291
Foreign exchange effects	−22.2	3.7	−7.9	0.6	9.0	−12.0
Net change in cash	−48.8	51.1	37.8	−12.3	−154	−20.3
Free cash flow	319	246	403	44.8	308	306

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.