SWIM Financials Latham Group, Inc.

7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:18 UTC Overview →

Growth & profitability

Revenue has grown 6.2% per year over the past 5 years.
Net income has grown slower than revenue (-7.0% vs 6.2% per year).
Operating margin has contracted, at 5.6% in the latest year.
Free cash flow has declined 4.1% per year over the past 5 years.

Financial health

Total debt ($280M) exceeds cash ($71M); net debt is $209M.
Total debt has grown in line with revenue (4.8% vs 6.2% per year).
Operating income covered interest expense 1.2× in the latest year.
Total debt is 3.4× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$546M	$11M	33.4%	5.6%	2.7%	1.4%	$38M	$280M	$71M
2024	$509M	-$18M	30.2%	3.6%	-4.6%	-2.2%	$41M	$282M	$56M
2023	$566M	-$2M	27.0%	2.8%	-0.6%	-0.3%	$83M	$301M	$103M
2022	$696M	-$6M	31.1%	4.3%	-1.5%	-0.7%	-$7M	$313M	$33M
2021	$630M	-$62M	32.4%	-5.7%	-17.6%	-7.8%	$9M	$280M	$44M
2020	$403M	$16M	35.4%	9.9%	5.7%	2.5%	$47M	$221M	$59M
2019	$318M	$7M	30.9%	7.9%	3.8%	—	$27M	—	$57M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$197M	$13M	35.5%	12.7%	3.1%	1.5%	$48M	$280M	$43M
Mar '26	$117M	-$9M	31.7%	-5.6%	-2.2%	-1.0%	-$58M	$311M	$27M
Dec '25	$100M	-$7M	28.0%	-10.7%	-1.7%	-0.9%	$14M	$280M	$71M
Sep '25	$162M	$8M	35.4%	13.3%	2.0%	1.0%	$45M	$281M	$71M
Jun '25	$173M	$16M	37.1%	14.3%	4.0%	1.9%	$29M	$281M	$27M
Mar '25	$111M	-$6M	29.5%	-4.4%	-1.6%	-0.7%	-$50M	$307M	$24M
Dec '24	$87M	-$29M	24.6%	-14.9%	-7.5%	-3.7%	-$98000	$282M	$56M
Sep '24	$150M	$6M	32.4%	8.9%	1.4%	0.7%	$33M	$283M	$60M
Jun '24	$160M	$13M	33.1%	12.5%	3.3%	1.6%	$48M	$282M	$91M
Mar '24	$111M	-$8M	27.7%	-1.9%	-2.0%	-1.0%	-$40M	$283M	$44M
Dec '23	$91M	$112000	23.3%	-9.9%	0.0%	0.0%	$23M	$301M	$103M
Sep '23	$161M	$6M	29.9%	11.2%	1.6%	0.7%	$47M	$302M	$78M
Jul '23	$177M	$6M	28.4%	7.6%	1.5%	0.7%	$37M	$312M	$43M
Apr '23	$138M	-$14M	24.2%	-4.6%	-3.8%	-1.5%	-$24M	$360M	$55M
Dec '22	$108M	-$19M	17.9%	-18.9%	-5.0%	-2.2%	$16M	$313M	$33M
Oct '22	$189M	$12M	31.1%	13.2%	3.0%	1.3%	$8M	$313M	$31M
Jul '22	$207M	$4M	32.7%	9.0%	1.1%	0.5%	$32M	$314M	$25M
Apr '22	$192M	-$3M	36.9%	3.5%	-0.7%	-0.3%	-$64M	$324M	$19M
Dec '21	$139M	-$6M	30.5%	-7.8%	-1.7%	-0.8%	-$1M	$280M	$44M
Oct '21	$162M	-$11M	31.5%	-1.6%	-3.4%	-1.5%	$9M	$234M	$91M

Valuation over time

How the market has priced SWIM against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 67.2× (Dec '25) to 77.3× (Nov '26).
The price-to-sales ratio has risen from 0.5× (Mar '23) to 1.6× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is SWIM growing its revenue and profit?

Over the past 5 years, Latham Group, Inc.'s revenue has grown 6.2% per year, and net income declined 7.0% per year. These are computed facts, not advice.

How much debt does SWIM have?

As of FY2025, Latham Group, Inc. reported $280M of total debt against $71M of cash; operating income covered interest expense 1.2×.

What is SWIM's profit margin?

In FY2025, gross margin was 33.4%, operating margin 5.6%, and net margin 2.0%.

What is SWIM's P/E ratio?

Latham Group, Inc.'s P/E (TTM) is 92.84 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the SWIM stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 77.3× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.