Leslie's, Inc. (LESL) AI Stock Analysis

Leslie's, Inc. is a direct-to-consumer brand providing pool and spa care solutions across the United States. Founded in 1963 and headquartered in Phoenix, Arizona, the company serves residential, professional, and commercial customers. Its offerings encompass pool and spa maintenance chemicals, cleaning equipment, parts, safety and recreational items, and fitness-related products. Leslie's also delivers professional equipment installation and repair services, distributing its products through e-commerce channels, third-party marketplaces, and service networks nationwide.

Revenue peaked at $1.56B in FY2022 before contracting for three consecutive years to $1.45B in FY2023, $1.33B in FY2024, and $1.24B in FY2025, representing a 5-year revenue CAGR of 2.2%. Profitability compressed over this period, with gross margin dropping from 44.3% in FY2021 to 35.4% in FY2025, and operating margin decreasing from 15.6% to 1.1%. Net income shifted from $159.0M in FY2022 to -$237.0M in FY2025. Over the trailing twelve months, revenue was $1.18B with an operating margin of 18.1% and a net margin of -21.2%. For the quarter ended June 30, 2026, quarterly revenue fell 8.4% year-over-year, while quarterly earnings grew 114.1%.

As of June 30, 2026, Leslie's held $45.9M in cash and short-term investments against $1.02B in total debt, resulting in net debt of $975.5M. Total assets stood at $722.2M, with negative shareholders' equity of -$492.7M and a current ratio of 1.35. Operating cash flow in FY2025 was $8.8M, but after capital expenditures of $25.5M, free cash flow was -$16.7M. Over five years, the company's share count changed by -1.0%.

At a closing price of $0.06 on October 7, 2026, Leslie's carries a market capitalization of $955,278 and an enterprise value of $979.5M. The stock trades at an EV/EBITDA of 25.8x, compared to the median of 11.1x for its US-listed Consumer Cyclical peers. Its forward P/E is 11.9x versus the peer median of 14.1x, and its EV/revenue is 0.8x. Over the past year, Leslie's returned -98.7% compared to a 17.4% gain for the S&P 500, and has dropped 100.0% over five years while the index rose 89.4%.

Wall Street analysts maintain a mean price target of $2.38 for Leslie's, compared to its last close of $0.06. For the fiscal year ending September 30, 2026, analysts estimate an EPS of -$4.01 and revenue of $0. For the following fiscal year, 2 analysts project revenue of $1.09B, representing a 0.1% decline, and an EPS of -$2.40. Across the last four quarters, the company delivered 0 EPS beats.

This page is an AI-written research summary of Leslie's, Inc. (LESL). The text was generated on October 30, 2026 from Quotelinks data as of October 7, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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