Latham Group, Inc.

Market-leading fiberglass-pool maker with a recovering but still thin return profile.

Strengths

• #1 North American position in every category, 70-year history, FCF positive ($38M, 57th pct) and current ratio 2.77 (78th pct)
• Net income swung positive to $11.1M with revenue +7.4% and Adjusted EBITDA margin up to 18.3%

Risks

• Returns remain mid-pack: ROE 2.7% (38th pct), ROA 1.4% (33rd pct), net margin 2.0% (33rd pct)
• Seasonal, discretionary, weather- and rate-sensitive demand; leverage at 0.68 D/E (69th pct)

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗