Leslie'S, Inc. Financials
This page shows Leslie'S, Inc. (LESL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Leslie'S, Inc. has an operating margin of -13.7%, meaning the company retains $-14 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 4.3% the prior year.
Leslie'S, Inc.'s revenue declined 6.6% year-over-year, from $1.3B to $1.2B. This contraction results in a growth score of 10/100.
Leslie'S, Inc.'s current ratio of 1.42 indicates adequate short-term liquidity, earning a score of 37/100. The company can meet its near-term obligations, though with limited headroom.
While Leslie'S, Inc. generated $8.8M in operating cash flow, capex of $25.5M consumed most of it, leaving -$16.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Leslie'S, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Leslie'S, Inc. generates $-0.04 in operating cash flow ($8.8M OCF vs -$237.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Leslie'S, Inc. earns $-2.7 in operating income for every $1 of interest expense (-$169.9M vs $62.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Leslie'S, Inc. generated $1.2B in revenue in fiscal year 2025. This represents a decrease of 6.6% from the prior year.
Leslie'S, Inc.'s EBITDA was -$140.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 262.8% from the prior year.
Leslie'S, Inc. generated -$16.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 127.7% from the prior year.
Leslie'S, Inc. reported -$237.0M in net income in fiscal year 2025. This represents a decrease of 913.6% from the prior year.
Leslie'S, Inc. earned $-25.57 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 910.7% from the prior year.
Leslie'S, Inc. held $3.6M in cash against $752.4M in long-term debt as of fiscal year 2025.
Leslie'S, Inc. had 9M shares outstanding in fiscal year 2025. This represents an increase of 0.5% from the prior year.
Leslie'S, Inc.'s gross margin was 35.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
Leslie'S, Inc.'s operating margin was -13.7% in fiscal year 2025, reflecting core business profitability. This is down 18.0 percentage points from the prior year.
Leslie'S, Inc.'s net profit margin was -19.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 17.3 percentage points from the prior year.
Leslie'S, Inc. invested $25.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 46.0% from the prior year.
LESL Income Statement
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q1'25 | Q3'23 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $147.1M-70.6% | $500.3M+182.5% | $177.1M-71.0% | $610.9M+251.2% | $174.0M-74.2% | $673.6M+216.5% | $212.8M+9.1% | $195.1M |
| Cost of Revenue | $120.1M-60.3% | $302.5M+127.1% | $133.2M-62.9% | $359.3M+190.8% | $123.6M-66.6% | $370.0M+161.2% | $141.7M+9.1% | $129.8M |
| Gross Profit | $27.1M-86.3% | $197.9M+350.3% | $43.9M-82.5% | $251.6M+399.1% | $50.4M-83.4% | $303.6M+326.6% | $71.2M+9.0% | $65.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $85.7M-33.9% | $129.6M+40.3% | $92.3M-32.0% | $135.8M+56.3% | $86.9M-33.9% | $131.5M+36.4% | $96.4M+4.4% | $92.3M |
| Operating Income | -$68.7M-200.6% | $68.3M+241.2% | -$48.4M-141.8% | $115.8M+417.5% | -$36.5M-121.2% | $172.1M+783.4% | -$25.2M+6.7% | -$27.0M |
| Interest Expense | $13.5M-14.1% | $15.8M-0.8% | $15.9M-10.1% | $17.7M+3.5% | $17.1M+149.3% | $6.8M-60.3% | $17.2M+29.1% | $13.4M |
| Income Tax | $687K-97.8% | $30.8M+337.9% | -$13.0M-150.6% | $25.6M+282.9% | -$14.0M-133.0% | $42.4M+489.2% | -$10.9M-8.1% | -$10.1M |
| Net Income | -$83.0M-481.8% | $21.7M+142.3% | -$51.3M-170.7% | $72.5M+283.4% | -$39.6M-132.2% | $123.0M+490.1% | -$31.5M-4.2% | -$30.3M |
| EPS (Diluted) | $-8.92-7533.3% | $0.12+142.9% | $-0.28-171.8% | $0.39+285.7% | $-0.21-131.3% | $0.67+494.1% | $-0.17-6.3% | $-0.16 |
LESL Balance Sheet
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q1'25 | Q3'23 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $649.4M-34.4% | $989.5M-5.1% | $1.0B-0.7% | $1.1B+5.2% | $998.5M-3.5% | $1.0B-11.1% | $1.2B+8.0% | $1.1B |
| Current Assets | $267.0M-30.7% | $385.1M-7.8% | $417.6M-1.2% | $422.4M+7.8% | $392.0M-6.7% | $420.3M-29.0% | $591.7M+16.4% | $508.5M |
| Cash & Equivalents | $3.6M-91.5% | $42.7M+147.4% | $17.3M-84.1% | $108.5M+1192.6% | $8.4M-84.9% | $55.4M+536.9% | $8.7M+223.3% | $2.7M |
| Inventory | $210.0M-23.1% | $273.2M-18.5% | $335.1M+43.0% | $234.3M-29.9% | $334.0M+7.1% | $311.8M-36.7% | $492.3M+14.6% | $429.5M |
| Accounts Receivable | $15.9M-54.4% | $34.8M+8.6% | $32.0M-29.5% | $45.5M+102.2% | $22.5M-23.5% | $29.4M-22.6% | $38.0M-18.1% | $46.4M |
| Goodwill | $0-100.0% | $180.7M0.0% | $180.7M0.0% | $180.7M0.0% | $180.7M0.0% | $180.7M+2.5% | $176.3M+0.1% | $176.2M |
| Total Liabilities | $1.1B-7.8% | $1.2B-5.8% | $1.3B+6.9% | $1.2B+2.5% | $1.2B+0.1% | $1.2B-15.7% | $1.4B+8.9% | $1.3B |
| Current Liabilities | $188.0M-28.2% | $262.0M-2.1% | $267.6M+8.4% | $246.9M+20.7% | $204.6M-9.4% | $225.8M-22.8% | $292.4M+14.8% | $254.6M |
| Long-Term Debt | $752.4M+0.1% | $751.5M+0.1% | $751.1M-2.3% | $769.1M-0.3% | $771.7M-0.2% | $773.3M-0.4% | $776.5M-0.2% | $778.1M |
| Total Equity | -$489.9M-99.0% | -$246.2M+8.6% | -$269.5M-52.1% | -$177.1M+10.8% | -$198.6M-23.1% | -$161.4M+36.7% | -$255.0M-13.0% | -$225.6M |
| Retained Earnings | -$604.1M-68.6% | -$358.4M+5.7% | -$380.1M-33.7% | -$284.2M+5.4% | -$300.4M-15.2% | -$260.8M+25.4% | -$349.9M-9.9% | -$318.3M |
LESL Cash Flow Statement
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q1'25 | Q3'23 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$81.1M-170.6% | $114.9M+333.4% | -$49.2M-204.6% | $47.1M+165.5% | -$71.9M-188.4% | $81.3M+232.0% | -$61.6M+66.6% | -$184.4M |
| Capital Expenditures | $4.3M-44.9% | $7.9M+20.2% | $6.5M-49.4% | $12.9M+20.3% | $10.7M-9.3% | $11.8M+29.7% | $9.1M+60.3% | $5.7M |
| Free Cash Flow | -$85.5M-179.8% | $107.1M+292.0% | -$55.8M-263.4% | $34.1M+141.3% | -$82.6M-219.0% | $69.4M+198.2% | -$70.7M+62.8% | -$190.1M |
| Investing Cash Flow | -$4.3M+44.7% | -$7.8M-20.8% | -$6.5M+49.9% | -$12.9M-20.7% | -$10.7M+8.1% | -$11.6M-18.3% | -$9.8M+28.4% | -$13.7M |
| Financing Cash Flow | $24.7M+130.3% | -$81.7M-233.1% | $61.3M+84134.2% | -$73K-100.2% | $35.5M+205.6% | -$33.7M-143.5% | $77.4M-12.6% | $88.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | $0 | N/A | $0 | $0 | $0 |
LESL Financial Ratios
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q1'25 | Q3'23 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.4%-21.2pp | 39.6%+14.7pp | 24.8%-16.4pp | 41.2%+12.2pp | 29.0%-16.1pp | 45.1%+11.6pp | 33.4%-0.0pp | 33.5% |
| Operating Margin | -46.7%-60.4pp | 13.7%+41.0pp | -27.3%-46.3pp | 19.0%+39.9pp | -21.0%-46.5pp | 25.6%+37.4pp | -11.8%+2.0pp | -13.8% |
| Net Margin | -56.4%-60.7pp | 4.3%+33.3pp | -29.0%-40.9pp | 11.9%+34.6pp | -22.7%-41.0pp | 18.3%+33.1pp | -14.8%+0.7pp | -15.5% |
| Return on Equity | 16.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -12.8%-15.0pp | 2.2%+7.1pp | -4.9%-11.3pp | 6.4%+10.3pp | -4.0%-15.0pp | 11.0%+13.7pp | -2.7%+0.1pp | -2.8% |
| Current Ratio | 1.42-0.1 | 1.47-0.1 | 1.56-0.2 | 1.71-0.2 | 1.92+0.1 | 1.86-0.2 | 2.02+0.0 | 2.00 |
| Debt-to-Equity | -1.54+1.5 | -3.05-0.3 | -2.79+1.6 | -4.34-0.5 | -3.88+0.9 | -4.79-1.7 | -3.05+0.4 | -3.45 |
| FCF Margin | -58.1%-79.5pp | 21.4%+52.9pp | -31.5%-57.6pp | 26.1%+73.6pp | -47.5%-76.8pp | 29.4%+62.6pp | -33.2%+64.2pp | -97.4% |
Note: Shareholder equity is negative (-$489.9M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Leslie'S, Inc.'s annual revenue?
Leslie'S, Inc. (LESL) reported $1.2B in total revenue for fiscal year 2025. This represents a -6.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Leslie'S, Inc.'s revenue growing?
Leslie'S, Inc. (LESL) revenue declined by 6.6% year-over-year, from $1.3B to $1.2B in fiscal year 2025.
Is Leslie'S, Inc. profitable?
No, Leslie'S, Inc. (LESL) reported a net income of -$237.0M in fiscal year 2025, with a net profit margin of -19.1%.
What is Leslie'S, Inc.'s earnings per share (EPS)?
Leslie'S, Inc. (LESL) reported diluted earnings per share of $-25.57 for fiscal year 2025. This represents a -910.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Leslie'S, Inc.'s EBITDA?
Leslie'S, Inc. (LESL) had EBITDA of -$140.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Leslie'S, Inc. have?
As of fiscal year 2025, Leslie'S, Inc. (LESL) had $3.6M in cash and equivalents against $752.4M in long-term debt.
What is Leslie'S, Inc.'s gross margin?
Leslie'S, Inc. (LESL) had a gross margin of 35.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Leslie'S, Inc.'s operating margin?
Leslie'S, Inc. (LESL) had an operating margin of -13.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Leslie'S, Inc.'s net profit margin?
Leslie'S, Inc. (LESL) had a net profit margin of -19.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Leslie'S, Inc.'s free cash flow?
Leslie'S, Inc. (LESL) generated -$16.7M in free cash flow during fiscal year 2025. This represents a -127.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Leslie'S, Inc.'s operating cash flow?
Leslie'S, Inc. (LESL) generated $8.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Leslie'S, Inc.'s total assets?
Leslie'S, Inc. (LESL) had $649.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Leslie'S, Inc.'s capital expenditures?
Leslie'S, Inc. (LESL) invested $25.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Leslie'S, Inc. have outstanding?
Leslie'S, Inc. (LESL) had 9M shares outstanding as of fiscal year 2025.
What is Leslie'S, Inc.'s current ratio?
Leslie'S, Inc. (LESL) had a current ratio of 1.42 as of fiscal year 2025, which is considered adequate.
What is Leslie'S, Inc.'s debt-to-equity ratio?
Leslie'S, Inc. (LESL) had a debt-to-equity ratio of -1.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Leslie'S, Inc.'s return on assets (ROA)?
Leslie'S, Inc. (LESL) had a return on assets of -36.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Leslie'S, Inc.'s debt-to-equity ratio negative or unusual?
Leslie'S, Inc. (LESL) has negative shareholder equity of -$489.9M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Leslie'S, Inc.'s Piotroski F-Score?
Leslie'S, Inc. (LESL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Leslie'S, Inc.'s earnings high quality?
Leslie'S, Inc. (LESL) has an earnings quality ratio of -0.04x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Leslie'S, Inc. cover its interest payments?
Leslie'S, Inc. (LESL) has an interest coverage ratio of -2.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Leslie'S, Inc.?
Leslie'S, Inc. (LESL) scores 12 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.