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Spanish manufacturer of swimming pool and wellness equipment (pumps, filtration, covers, chemicals) sold globally.
Spanish manufacturer of swimming pool and wellness equipment (pumps, filtration, covers, chemicals) sold globally.
Sells to pool builders, installers and distributors, but a large part of revenue comes from maintaining and upgrading pools already built, such as pumps, filters and chemicals, which is steadier than new construction. A 2018 merger with the US firm Zodiac Pool Solutions gave it a large North American business.
In one line: A pool-equipment leader like a smaller Pentair.
Moat: narrow (scale, brand, distribution). Global #1 pool-equipment maker with wide distribution, though category demand is discretionary.
Headquarters: Sabadell, Spain · Founded: 1969 · Employees: 6,767
Size Fluidra (FDR.MC) is a Spain Consumer Discretionary company (Recreational Products) with a market value of $4.12B, the 30th largest of 97 Spain companies the cockpit tracks. Shares closed at €19.32 on 6 Nov 2026.
Performance Over six months the shares gained 4.4%, against +2.2% for the median peer and +8.2% for the Spain market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 2.3% over the last twelve months (peer median +7.1%); the operating margin is 13.5% (peer median 9.3%).
Valuation It trades at 14.9× forward earnings against a peer median of 18.6× (7th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.1 points above its cost of capital (7.8% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €2.24B | €2.22B | €2.14B | €2.08B | €2.43B |
| Revenue growth | — | +4% | +3% | -14% | — |
| Gross profit | €1.10B | €709M | €669M | €602M | €708M |
| EBITDA | €465M | €471M | €424M | €396M | €473M |
| Net income | €167M | €176M | €138M | €114M | €160M |
| Free cash flow | n/a | €302M | €271M | €391M | €70.6M |
| Capital expenditure | n/a | €71.1M | €73.1M | €64.1M | €78.4M |
| Total debt | €1.06B | €1.22B | €1.32B | €1.33B | €1.46B |
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 |
|---|---|---|---|---|---|---|
| Fluidra FDR.MC | $4.12B | +4% | +2% | 14% | 14.9× | 5.4% |
| Pentair PNR | $10.9B | -11% | -4% | 22% | 13.2× | 7.1% |
| Hayward HAYW | $3.38B | +11% | +8% | 22% | 17.9× | 9.9% |
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 | FDR.MC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.7% | +3.7% | 8th highest of 21 |
| 6-month return | +4.4% | +2.2% | 11th highest of 21 |
| Distance from 52-week high | -26.3% | -18.1% | 8th lowest of 21 |
| Revenue growth (TTM) | +2.3% | +7.1% | 7th lowest of 21 |
| Operating margin | 13.5% | 9.3% | 8th highest of 21 |
| Forward P/E | 14.9× | 18.6× | 7th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.4% | 2.5% | 8th most demanding of 18 |
| Growth delivered (Del g) | +8.0% | +7.0% | 8th highest of 18 |
| Hurdle (Req g minus delivered) | -2.6 pp | -5.2 pp | 7th most demanding of 18 |
| ROIC minus cost of capital | +1.1 pp | +3.6 pp | 9th lowest of 20 |
| EV / EBITDA | 9.9× | 11.4× | 8th cheapest of 19 |
| Net debt / EBITDA | 2.0× | -0.0× | 3rd most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fluidra FDR.MC | Spain | $4.12B | +4% | +2% | 14% | 14.9× | 5.4% | +8.0% |
| Thor Industries THO | United States | $4.18B | +5% | 0% | 3% | 22.3× | 16.0% | -4.8% |
| Asmodee ASMDEE-B.ST | Sweden | $3.97B | +39% | +17% | 16% | 17.1× | -1.8% | +11.9% |
| Mattel MAT | United States | $4.39B | 0% | +3% | 9% | 12.8× | 0.2% | +3.1% |
| Acushnet GOLF | United States | $4.72B | -12% | +7% | 13% | 20.0× | 3.8% | +9.7% |
| Polaris PII | United States | $3.59B | -8% | +9% | 2% | 22.2× | 18.1% | +0.4% |
| Yamaha 7951.T | Japan | $3.39B | +7% | +5% | 8% | 15.8× | -1.7% | +4.5% |
| Hayward HAYW | United States | $3.38B | +11% | +8% | 22% | 17.9× | 9.9% | +5.1% |
| Technogym S.p.A TGYM.MI | Italy | $3.34B | -32% | +10% | 16% | 23.8× | 9.7% | +14.9% |
| Callaway Golf CALY | United States | $3.00B | -4% | -37% | 9% | 18.6× | 2.4% | +5.3% |
| Tomy 7867.T | Japan | $2.74B | +89% | +7% | 9% | 20.2× | 2.5% | +13.9% |
| Games Workshop GAW.L | United Kingdom | $7.15B | -17% | +7% | 42% | 25.2× | 11.7% | +12.3% |
| Alpha 002292.SZ | China | $2.08B | +13% | +2% | 9% | 72.3× | 28.4% | +0.9% |
| tonies TNIE.DE | Germany | $1.86B | +24% | +36% | 4% | 37.4× | n/a | n/a |
| VTech 0303.HK | Hong Kong | $1.72B | -15% | -7% | 9% | 11.9× | -9.7% | -3.0% |
| Bloks 0325.HK | Hong Kong | $1.56B | -23% | +30% | 21% | 12.4× | -1.0% | +102.8% |
| Spin Master TOY.TO | Canada | $1.52B | +6% | -2% | 9% | 9.6× | -11.5% | +7.0% |
| Sanlorenzo SL.MI | Italy | $1.46B | -7% | +2% | 14% | 11.8× | -2.0% | +13.7% |
| New Gonow Recreational Vehicles 0805.HK | Hong Kong | $1.36B | +491% | +13% | 2% | n/a | n/a | n/a |
| Yonex 7906.T | Japan | $1.31B | -10% | +15% | 10% | 14.6× | n/a | n/a |
| Mips MIPS.ST | Sweden | $1.24B | +75% | +41% | 37% | 47.3× | 32.9% | +7.9% |