CSW Industrials, Inc. (CSW) 10-Year Financial Performance & Capital Metrics

CSW • • Industrial / General

IndustrialsIndustrial MachinerySpecialized Industrial ComponentsFiltration & Sealing Systems

AboutCSW Industrials, Inc. is a diversified industrial growth company operating in the United States and internationally. The company operates through three main segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. Its product portfolio includes cements, diffusers, grilles, registers, solvents, thread sealants, traps, vents, architectural railings, fire and smoke protection solutions, and industrial lubricants and sealants. CSW serves end markets such as HVAC/R, plumbing, general industrial, architectural building products, energy, mining, and rail. The company has a global presence with operations spanning 26 locations across five countries. Founded in 2014 and headquartered in Dallas, Texas, CSW Industrials focuses on providing niche, value-added products known for performance and reliability.Show more

Revenue $878M +10.8%
EBITDA $224M +14.0%
Net Income $137M +34.4%
EPS (Diluted) 8.38 +28.5%
Gross Margin 44.78% +1.2%
EBITDA Margin 25.53% +2.9%
Operating Margin 20.64% +2.8%
Net Margin 15.56% +21.4%
ROE 15.82% -8.2%
ROIC 15.41% +8.0%
Debt/Equity 0.06 -81.3%
Interest Coverage 673.78 +5287.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 24.5%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 17.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.9%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.87%

5Y17.88%

3Y11.92%

TTM14.87%

Profit (Net Income) CAGR

10Y16.49%

5Y24.48%

3Y27.21%

TTM24.19%

EPS CAGR

10Y15.94%

5Y22.64%

3Y25.89%

TTM15.76%

ROCE

10Y Avg15.57%

5Y Avg15.35%

3Y Avg16.4%

Latest16.79%

Peer Comparison

Filtration & Sealing Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NPOEnPro Industries, Inc.	5.09B	241.74	70.07	-1%	7.81%	5.68%	2.55%	0.49
CSWCSW Industrials, Inc.	5.49B	328.94	39.25	10.78%	14.88%	12.5%	2.77%	0.06
DCIDonaldson Company, Inc.	11.62B	100.73	33.03	2.92%	10.25%	25.18%	2.93%	0.50
GTESGates Industrial Corporation plc	5.95B	23.05	31.15	-4.54%	6.93%	6.37%	4.98%	0.74
ITTITT Inc.	15.75B	183.08	29.06	10.59%	12.67%	18.09%	2.78%	0.27
ITWIllinois Tool Works Inc.	75.97B	261.89	22.36	-1.3%	19.05%	94.27%	3.74%	2.44
ENOVEnovis Corporation	1.39B	24.26	-1.62	23.46%	-61.22%	-67.56%		0.55

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	319.83M	327.08M	326.22M	350.15M	385.87M	626.43M	626.43M	757.9M	792.84M	878.3M
Revenue Growth %	0.22%	0.02%	-0%	0.07%	0.1%	0.62%	0%	0.21%	0.05%	0.11%
Cost of Goods Sold+	171.97M	193.25M	178.31M	188.78M	209.03M	370.47M	373.75M	439.69M	442.1M	484.99M
COGS % of Revenue	0.54%	0.59%	0.55%	0.54%	0.54%	0.59%	0.6%	0.58%	0.56%	0.55%
Gross Profit+	147.86M	133.84M	147.92M	161.37M	176.84M	255.96M	252.69M	318.21M	350.75M	393.31M
Gross Margin %	0.46%	0.41%	0.45%	0.46%	0.46%	0.41%	0.4%	0.42%	0.44%	0.45%
Gross Profit Growth %	0.17%	-0.09%	0.11%	0.09%	0.1%	0.45%	-0.01%	0.26%	0.1%	0.12%
Operating Expenses+	100.38M	107.24M	97.2M	100.93M	110.98M	158.58M	154.61M	179.15M	191.63M	212.06M
OpEx % of Revenue	0.31%	0.33%	0.3%	0.29%	0.29%	0.25%	0.25%	0.24%	0.24%	0.24%
Selling, General & Admin	100.38M	107.24M	97.2M	100.93M	110.03M	158.58M	149.81M	174.45M	183.59M	203.33M
SG&A % of Revenue	0.31%	0.33%	0.3%	0.29%	0.29%	0.25%	0.24%	0.23%	0.23%	0.23%
Research & Development	4.5M	4.8M	4.6M	4.3M	0	0	4.8M	4.8M	5.9M	5.3M
R&D % of Revenue	0.01%	0.01%	0.01%	0.01%	-	-	0.01%	0.01%	0.01%	0.01%
Other Operating Expenses	-226K	1.76M	-150K	2.44M	951K	0	0	-98K	2.13M	3.43M
Operating Income+	47.49M	22.48M	50.71M	60.44M	65.85M	97.38M	98.08M	139.07M	159.12M	181.25M
Operating Margin %	0.15%	0.07%	0.16%	0.17%	0.17%	0.16%	0.16%	0.18%	0.2%	0.21%
Operating Income Growth %	0.08%	-0.53%	1.26%	0.19%	0.09%	0.48%	0.01%	0.42%	0.14%	0.14%
EBITDA+	61.65M	36.05M	65.51M	74.14M	80.7M	134.27M	134.45M	174.62M	196.77M	224.25M
EBITDA Margin %	0.19%	0.11%	0.2%	0.21%	0.21%	0.21%	0.21%	0.23%	0.25%	0.26%
EBITDA Growth %	0.13%	-0.42%	0.82%	0.13%	0.09%	0.66%	0%	0.3%	0.13%	0.14%
D&A (Non-Cash Add-back)	14.16M	13.57M	14.8M	13.7M	14.85M	36.89M	36.37M	35.55M	37.65M	43.01M
EBIT	46.87M	34.41M	50.39M	63.22M	58.72M	96.91M	96.69M	138.97M	161.25M	180.39M
Net Interest Income+	-3.04M	-2.69M	-2.32M	-1.44M	-1.33M	-2.38M	-5.45M	-13.2M	-12.72M	-269K
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	3.04M	2.69M	2.32M	1.44M	1.33M	2.38M	5.45M	13.2M	12.72M	269K
Other Income/Expense	-3.26M	-12.89M	-2.47M	1M	-8.47M	-5.92M	-6.62M	-13.15M	-18.64M	-1.13M
Pretax Income+	44.23M	21.54M	48.25M	61.44M	57.39M	91.47M	91.47M	125.91M	140.48M	180.12M
Pretax Margin %	0.14%	0.07%	0.15%	0.18%	0.15%	0.15%	0.15%	0.17%	0.18%	0.21%
Income Tax+	18.75M	10.47M	15.56M	15.39M	12.73M	24.15M	24.15M	29.34M	37.94M	42.63M
Effective Tax Rate %	0.58%	0.51%	-0.25%	0.74%	0.8%	0.73%	0.73%	0.77%	0.72%	0.76%
Net Income+	25.47M	11.07M	-11.88M	45.57M	45.72M	66.39M	66.39M	96.44M	101.65M	136.65M
Net Margin %	0.08%	0.03%	-0.04%	0.13%	0.12%	0.11%	0.11%	0.13%	0.13%	0.16%
Net Income Growth %	-0.14%	-0.57%	-2.07%	4.84%	0%	0.45%	0%	0.45%	0.05%	0.34%
Net Income (Continuing)	23.81M	17.8M	32.68M	46.05M	44.66M	67.32M	67.32M	96.57M	102.54M	137.48M
Discontinued Operations	0	0	0	0	1.06M	0	0	0	0	0
Minority Interest	0	0	0	0	0	15.32M	15.32M	18.46M	19.36M	20.19M
EPS (Diluted)+	1.62	0.70	-0.76	2.93	3.02	2.65	4.20	6.20	6.52	8.38
EPS Growth %	-0.15%	-0.57%	-2.09%	4.86%	0.03%	-0.12%	0.58%	0.48%	0.05%	0.29%
EPS (Basic)	1.63	0.70	-0.76	2.96	3.05	2.67	4.21	6.22	6.54	8.41
Diluted Shares Outstanding	15.68M	15.84M	15.67M	15.53M	15.21M	15.13M	15.81M	15.55M	15.58M	16.31M
Basic Shares Outstanding	15.63M	15.77M	15.67M	15.41M	15.04M	15.02M	15.76M	15.51M	15.53M	16.24M
Dividend Payout Ratio	0.01%	-	-	-	0.18%	0.12%	0.14%	0.11%	0.12%	0.11%

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	155.52M	146.28M	127.57M	151.27M	150.04M	300.15M	300.15M	323.06M	331.41M	592.86M
Cash & Short-Term Investments	39.27M	24.92M	11.71M	26.65M	18.34M	16.62M	16.62M	18.45M	22.16M	225.84M
Cash Only	25.99M	23.15M	11.71M	26.65M	18.34M	16.62M	16.62M	18.45M	22.16M	225.84M
Short-Term Investments	13.28M	1.78M	0	0	0	0	0	0	0	0
Accounts Receivable	52.64M	59.83M	63.38M	66.14M	74.88M	122.8M	122.8M	124.1M	142.66M	157.74M
Days Sales Outstanding	60.07	66.77	70.92	68.94	70.83	71.55	71.55	59.76	65.68	65.55
Inventory	51.63M	50.4M	42.97M	51.43M	53.75M	150.11M	150.11M	161.57M	150.75M	194.88M
Days Inventory Outstanding	109.59	95.2	87.97	99.43	93.86	147.9	146.6	134.12	124.46	146.66
Other Current Assets	0	11.91M	9.5M	7.05M	3.07M	0	0	9.45M	15.84M	2.8M
Total Non-Current Assets+	236.74M	251.38M	213.25M	201.37M	219.2M	695.21M	695.21M	720.4M	711.92M	786.2M
Property, Plant & Equipment	64.36M	63.9M	54.47M	53.64M	73.56M	154.11M	154.11M	148.05M	137.3M	155.48M
Fixed Asset Turnover	4.97x	5.12x	5.99x	6.53x	5.25x	4.06x	4.06x	5.12x	5.77x	5.65x
Goodwill	67.76M	80.86M	81.76M	86.3M	91.69M	224.66M	224.66M	242.74M	247.19M	264.09M
Intangible Assets	88.73M	90.61M	53.05M	50.47M	46.19M	300.84M	300.84M	318.9M	318.82M	357.91M
Long-Term Investments	3.09M	3.01M	12.2M	957K	919K	0	0	2.45M	1.23M	2.5M
Other Non-Current Assets	15.9M	10.05M	4.13M	10.96M	6.85M	15.31M	15.31M	7.8M	7.01M	5.88M
Total Assets+	392.26M	397.66M	340.82M	352.63M	369.25M	995.36M	995.36M	1.04B	1.04B	1.38B
Asset Turnover	0.82x	0.82x	0.96x	0.99x	1.05x	0.63x	0.63x	0.73x	0.76x	0.64x
Asset Growth %	0.37%	0.01%	-0.14%	0.03%	0.05%	1.7%	0%	0.05%	-0%	0.32%
Total Current Liabilities+	31.56M	37.74M	44.85M	49.17M	59.15M	117.4M	117.4M	108.04M	115.84M	147.2M
Accounts Payable	9.91M	10.37M	16.83M	19.02M	21.98M	47.84M	47.84M	40.65M	48.39M	54.77M
Days Payables Outstanding	21.04	19.59	34.44	36.78	38.38	47.13	46.72	33.75	39.95	41.22
Short-Term Debt	561K	561K	561K	561K	3.62M	561K	561K	9.78M	0	0
Deferred Revenue (Current)	517K	923K	1000K	1000K	0	1000K	1000K	637K	548K	932K
Other Current Liabilities	8.07M	14.22M	13.86M	11.48M	14.36M	24.68M	24.68M	29.47M	26.12M	43.53M
Current Ratio	4.93x	3.88x	2.84x	3.08x	2.54x	2.56x	2.56x	2.99x	2.86x	4.03x
Quick Ratio	3.29x	2.54x	1.89x	2.03x	1.63x	1.28x	1.28x	1.49x	1.56x	2.70x
Cash Conversion Cycle	148.63	142.37	124.44	131.59	126.31	172.32	171.44	160.14	150.19	171
Total Non-Current Liabilities+	102.69M	87.49M	30.2M	39.77M	33.36M	393.55M	393.55M	391.27M	292.41M	139.43M
Long-Term Debt	89.12M	72.65M	23.46M	30.9M	10.34M	252.21M	252.21M	253M	166M	0
Capital Lease Obligations	0	0	0	0	15.18M	63.27M	63.27M	55.59M	39.92M	58.12M
Deferred Tax Liabilities	3.79M	3.09M	2.36M	3.26M	3.85M	76.8M	76.8M	62.14M	0	67.42M
Other Non-Current Liabilities	13.57M	11.75M	4.38M	5.62M	3.99M	1.26M	1.26M	20.54M	86.49M	13.89M
Total Liabilities	134.25M	125.23M	75.05M	88.95M	92.5M	510.95M	510.95M	499.31M	408.25M	286.63M
Total Debt+	89.68M	73.21M	24.02M	31.46M	29.13M	325.32M	325.32M	318.37M	215.37M	69.36M
Net Debt	63.7M	50.06M	12.31M	4.81M	10.79M	308.7M	308.7M	299.92M	193.21M	-156.48M
Debt / Equity	0.35x	0.27x	0.09x	0.12x	0.11x	0.67x	0.67x	0.59x	0.34x	0.06x
Debt / EBITDA	1.45x	2.03x	0.37x	0.42x	0.36x	2.42x	2.42x	1.82x	1.09x	0.31x
Net Debt / EBITDA	1.03x	1.39x	0.19x	0.06x	0.13x	2.30x	2.30x	1.72x	0.98x	-0.70x
Interest Coverage	15.65x	8.34x	21.89x	41.91x	49.48x	40.86x	18.00x	10.54x	12.51x	673.78x
Total Equity+	258.01M	272.44M	265.76M	263.69M	276.74M	484.41M	484.41M	544.14M	635.08M	1.09B
Equity Growth %	0.26%	0.06%	-0.02%	-0.01%	0.05%	0.75%	0%	0.12%	0.17%	0.72%
Book Value per Share	16.46	17.20	16.96	16.98	18.20	32.03	30.65	35.00	40.76	66.96
Total Shareholders' Equity	258.01M	272.44M	265.76M	263.69M	276.74M	469.09M	469.09M	525.67M	615.72M	1.07B
Common Stock	156K	157K	158K	158K	159K	162K	162K	163K	164K	177K
Retained Earnings	233.96M	245.03M	233.65M	277.59M	315.08M	407.52M	407.52M	493.32M	583.08M	705.03M
Treasury Stock	0	-1.01M	-3.25M	-49.96M	-75.38M	-46.45M	-46.45M	-82.73M	-95.64M	-122.13M
Accumulated OCI	-7.7M	-10.44M	-7.47M	-10.73M	-11.45M	-5.07M	-5.07M	-8.41M	-9.13M	-12.13M
Minority Interest	0	0	0	0	0	15.32M	15.32M	18.46M	19.36M	20.19M

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	41.53M	39.04M	43.16M	59.71M	69.9M	66.25M	69.09M	121.45M	164.33M	168.36M
Operating CF Margin %	0.13%	0.12%	0.13%	0.17%	0.18%	0.11%	0.11%	0.16%	0.21%	0.19%
Operating CF Growth %	0.17%	-0.06%	0.11%	0.38%	0.17%	-0.05%	0.04%	0.76%	0.35%	0.02%
Net Income	25.47M	11.07M	32.68M	46.05M	45.72M	40.29M	67.32M	96.57M	101.65M	137.48M
Depreciation & Amortization	14.16M	15.8M	14.93M	13.84M	14.85M	23.04M	36.89M	35.55M	37.65M	43.01M
Stock-Based Compensation	2.23M	4.64M	4.16M	3.95M	5.07M	8.69M	8.45M	9.75M	11.54M	13.59M
Deferred Taxes	7.26M	528K	1.64M	10.63M	486K	-1.74M	-3.26M	-6.01M	-2.5M	-6.92M
Other Non-Cash Items	-6.69M	4.69M	-15.58M	-12.14M	5.09M	2.14M	3M	3.94M	4.92M	6.29M
Working Capital Changes	-909K	2.31M	5.32M	-2.62M	-1.31M	-2.56M	-43.3M	-18.36M	11.07M	-25.09M
Change in Receivables	2.52M	-5.76M	-2.7M	-3.83M	-8M	-7.22M	-26.73M	1.1M	-17.9M	-9.12M
Change in Inventory	5.06M	-36K	992K	-5.54M	-1.65M	-3.38M	-49.4M	-11.42M	10.36M	-35.7M
Change in Payables	910K	4.71M	6.26M	5.7M	5.88M	13.86M	27.98M	-7M	12.29M	21.66M
Cash from Investing+	-110.22M	-25.97M	-4.54M	-3.06M	-20.44M	-289.89M	-51.46M	-69.72M	-45.45M	-102.22M
Capital Expenditures	-11.05M	-9.37M	-5.53M	-7.51M	-11.44M	-8.83M	-15.65M	-13.95M	-16.57M	-16.27M
CapEx % of Revenue	0.03%	0.03%	0.02%	0.02%	0.03%	0.01%	0.02%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	46K	263K	-1.42M	3.29M	2.83M	-8.8M	139K	120K	2.19M	1.23M
Cash from Financing+	74.69M	-15.32M	-51.52M	-39.27M	-57.15M	214.05M	-13.04M	-49.29M	-114.07M	138.05M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-300K	0	0	0	-8.13M	-8.08M	-9.46M	-10.55M	-11.8M	-14.58M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	13.1M	2.17M	-93K	0	0	1.33M	5.29M	112K	0	-1.08M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	30.48M	29.67M	37.62M	52.2M	58.46M	57.42M	53.44M	107.5M	147.76M	152.1M
FCF Margin %	0.1%	0.09%	0.12%	0.15%	0.15%	0.09%	0.09%	0.14%	0.19%	0.17%
FCF Growth %	0.14%	-0.03%	0.27%	0.39%	0.12%	-0.02%	-0.07%	1.01%	0.37%	0.03%
FCF per Share	1.94	1.87	2.40	3.36	3.84	3.80	3.38	6.92	9.48	9.32
FCF Conversion (FCF/Net Income)	1.63x	3.53x	-3.63x	1.31x	1.53x	1.00x	1.04x	1.26x	1.62x	1.23x
Interest Paid	3.07M	2.62M	2.12M	1.3M	1.17M	1.88M	4.96M	12.5M	12.25M	4.79M
Taxes Paid	18.3M	9.79M	9.67M	2.89M	8.87M	14.02M	20.48M	47.48M	39.3M	50.87M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	11.01%	4.17%	-4.42%	17.22%	16.92%	17.44%	13.7%	18.75%	17.24%	15.82%
Return on Invested Capital (ROIC)	13.37%	5.23%	12.67%	16.59%	17.77%	13.52%	9.27%	12.74%	14.27%	15.41%
Gross Margin	46.23%	40.92%	45.34%	46.09%	45.83%	40.86%	40.34%	41.99%	44.24%	44.78%
Net Margin	7.96%	3.38%	-3.64%	13.02%	11.85%	10.6%	10.6%	12.72%	12.82%	15.56%
Debt / Equity	0.35x	0.27x	0.09x	0.12x	0.11x	0.67x	0.67x	0.59x	0.34x	0.06x
Interest Coverage	15.65x	8.34x	21.89x	41.91x	49.48x	40.86x	18.00x	10.54x	12.51x	673.78x
FCF Conversion	1.63x	3.53x	-3.63x	1.31x	1.53x	1.00x	1.04x	1.26x	1.62x	1.23x
Revenue Growth	22.15%	2.27%	-0.26%	7.34%	10.2%	62.34%	0%	20.99%	4.61%	10.78%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Industrial Products	138.59M	158.65M	186.48M	-	-	-	-	-	-
Industrial Products Growth	-	14.47%	17.54%	-	-	-	-	-	-
Specialty Chemicals	74.93M	71.47M	139.74M	-	-	-	-	-	-
Specialty Chemicals Growth	-	-4.62%	95.52%	-	-	-	-	-	-
Coatings Sealants and Adhesives	106.03M	96.87M	-	-	-	-	-	-	-
Coatings Sealants and Adhesives Growth	-	-8.64%	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	257.94M	279.28M	268.2M	286.55M	323M	367.17M	559.3M	678.13M	703.28M
UNITED STATES Growth	-	8.27%	-3.97%	6.84%	12.72%	13.67%	52.33%	21.25%	3.71%
Non-US	61.89M	47.8M	58.02M	63.61M	62.87M	52.04M	67.14M	79.78M	89.56M
Non-US Growth	-	-22.76%	21.38%	9.63%	-1.16%	-17.23%	29.02%	18.83%	12.26%

Frequently Asked Questions

Valuation & Price

CSW Industrials, Inc. (CSW) has a price-to-earnings (P/E) ratio of 39.3x. This suggests investors expect higher future growth.

Growth & Financials

CSW Industrials, Inc. (CSW) reported $964.8M in revenue for fiscal year 2025. This represents a 385% increase from $199.1M in 2013.

CSW Industrials, Inc. (CSW) grew revenue by 10.8% over the past year. This is steady growth.

Yes, CSW Industrials, Inc. (CSW) is profitable, generating $143.6M in net income for fiscal year 2025 (15.6% net margin).

Dividend & Returns

Yes, CSW Industrials, Inc. (CSW) pays a dividend with a yield of 0.27%. This makes it attractive for income-focused investors.

CSW Industrials, Inc. (CSW) has a return on equity (ROE) of 15.8%. This is reasonable for most industries.

CSW Industrials, Inc. (CSW) generated $147.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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