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Diversified industrial maker of HVAC/refrigeration products, specialty chemicals and architecturally specified building coatings.
Diversified industrial maker of HVAC/refrigeration products, specialty chemicals and architecturally specified building coatings.
Sells through distributors and contractors, so familiarity with technicians matters, and demand is driven by repair and maintenance as well as new building. It was spun out of Capital Southwest in 2015 and has grown largely through a steady stream of small acquisitions of niche brands.
Moat: narrow (brand, distribution). Portfolio of niche #1-or-2 brands sold through established HVAC/plumbing distribution channels.
Headquarters: Dallas, Texas, United States · Founded: 1971 · Employees: 2,700
Size CSW Industrials (CSW) is a United States Materials company (Industrial Specialties) with a market value of $4.43B, the 1277th largest of 3,117 United States companies the cockpit tracks. Shares closed at $271.74 on 6 Nov 2026.
Performance Over six months the shares gained 0.1%, against -15.3% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 30.0% over the last twelve months (peer median +11.4%); the operating margin is 18.4% (peer median 11.1%).
Valuation It trades at 20.8× forward earnings against a peer median of 31.6× (8th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.0 points above its cost of capital (8.3% WACC).
Short interest Short interest is 6.6% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.25B | $1.08B | $878M | $793M | $758M |
| Revenue growth | — | +23% | +11% | +5% | — |
| Gross profit | $528M | $406M | $388M | $346M | $314M |
| EBITDA | $308M | $252M | $228M | $199M | $175M |
| Net income | $128M | $112M | $137M | $102M | $96.4M |
| Free cash flow | $177M | $132M | $152M | $148M | $108M |
| Capital expenditure | $20.8M | $17.3M | $16.3M | $16.6M | $14.0M |
| Total debt | $843M | $945M | $69.4M | $215M | $318M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| CSW Industrials CSW | $4.43B | 0% | +30% | 18% | 20.8× | 13.5% |
| RPM International RPM | $13.2B | +2% | +6% | 13% | 16.9× | 7.5% |
| Watts Water Technologies WTS | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% |
| Fortune Brands Innovations FBIN | $5.74B | +27% | -3% | 14% | 19.7× | 5.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CSW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -3.5% | 9th lowest of 20 |
| 6-month return | +0.1% | -15.3% | 6th highest of 20 |
| Distance from 52-week high | -23.6% | -36.9% | 6th highest of 20 |
| Revenue growth (TTM) | +30.0% | +11.4% | 3rd highest of 21 |
| Operating margin | 18.4% | 11.1% | 4th highest of 21 |
| Forward P/E | 20.8× | 31.6× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 13.5% | 10.2% | 6th most demanding of 13 |
| Growth delivered (Del g) | +20.9% | +11.0% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | -7.4 pp | -4.8 pp | 5th least demanding of 13 |
| ROIC minus cost of capital | +1.0 pp | +0.5 pp | 9th highest of 21 |
| EV / EBITDA | 17.1× | 24.7× | 5th cheapest of 10 |
| Net debt / EBITDA | 2.6× | 0.5× | most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CSW Industrials CSW | United States | $4.43B | 0% | +30% | 18% | 20.8× | 13.5% | +20.9% |
| SICC 2631.HK | Hong Kong | $4.61B | -41% | +27% | -5% | 93.0× | n/a | n/a |
| Sunresin New Materials 300487.SZ | China | $4.77B | -2% | +17% | 36% | 31.2× | 19.0% | +24.7% |
| FSPG Hi-Tech 000973.SZ | China | $4.07B | -47% | +205% | 17% | 16.5× | n/a | n/a |
| Sichuan EM Technology 601208.SS | China | $4.88B | -15% | +23% | 7% | 51.1× | 44.5% | +22.5% |
| Beijing Oriental Yuhong Waterproof Technology 002271.SZ | China | $3.92B | -27% | +10% | 1% | 18.8× | 10.6% | +5.0% |
| Taiwan Glass Industry 1802.TW | Taiwan | $5.08B | -21% | +12% | 12% | 16.7× | n/a | n/a |
| AZZ AZZ | United States | $3.76B | -15% | +10% | 17% | 16.9× | 9.8% | +14.5% |
| Shanghai Sinyang Semiconductor Materials 300236.SZ | China | $3.58B | -20% | +33% | 15% | 54.8× | n/a | n/a |
| China Hainan Rubber Industry 601118.SS | China | $3.36B | -27% | -37% | -3% | 104.6× | 2.9% | +22.2% |
| Fuchs FPE.DE | Germany | $5.87B | +21% | +12% | 13% | 13.8× | -4.4% | +8.4% |
| Crown New Materials Techn Co L 001381.SZ | China | $3.33B | n/a | +8% | 10% | n/a | n/a | n/a |
| Berger Paints India BERGEPAINT.NS | India | $5.90B | -2% | +5% | 12% | 41.5× | 38.5% | +11.8% |
| Kansai Paint 4613.T | Japan | $3.23B | +29% | +3% | 8% | 19.1× | 2.3% | +10.1% |
| SKSHU Paint 603737.SS | China | $3.14B | -33% | 0% | 4% | 29.5× | 27.7% | +8.9% |
| Kinik 1560.TW | Taiwan | $3.04B | +17% | +19% | 19% | 35.7× | 34.8% | +9.6% |
| Himadri Speciality Chemical HSCL.NS | India | $3.04B | -8% | +25% | 20% | 31.9× | n/a | n/a |
| Flat Glass 601865.SS | China | $3.03B | -30% | -23% | -2% | n/a | 8.2% | +20.0% |
| WD-40 WDFC | United States | $2.97B | +6% | +11% | 16% | 33.9× | 2.2% | +7.1% |
| Sekisui Chemical 4204.T | Japan | $6.61B | +9% | +6% | 9% | 13.4× | n/a | n/a |
| Jiangsu Pacific Quartz 603688.SS | China | $2.78B | -38% | +15% | 10% | 82.1× | n/a | n/a |