Tearsheet

CSW Industrials (CSW)

Market Price (12/4/2025): $302.18 | Market Cap: $5.1 Bil
Sector: Industrials | Industry: Industrial Conglomerates

CSW Industrials (CSW)

Market Price (12/4/2025): $302.18
Market Cap: $5.1 Bil
Sector: Industrials
Industry: Industrial Conglomerates

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
2	Low stock price volatility Vol 12M is 39%
3	Megatrend and thematic drivers Megatrends include Advanced Materials, Sustainable & Green Buildings, and Water Infrastructure. Themes include Specialty Chemicals for Performance, Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
2	Low stock price volatility Vol 12M is 39%
3	Megatrend and thematic drivers Megatrends include Advanced Materials, Sustainable & Green Buildings, and Water Infrastructure. Themes include Specialty Chemicals for Performance, Show more.

Valuation, Metrics & Events

	12/4/25	2024	2023	2022
Share Price CYE	$302.18	$351.52	$206.00	$114.58
Market Cap CYE ($ Bil)	5.1	5.9	3.2	1.8
Total Debt ($ Bil)	0.1	0.1	0.2	0.3
Total Cash ($ Bil)	0.0	0.2	0.0	0.0
Enterprise Value ($ Bil)	5.1	6.0	3.4	2.1
Valuation Ratios
P/S TTM	4.2	6.5	4.1	2.4
P/EBIT TTM	21.9	31.8	21.0	12.9
P/E TTM	28.4	41.9	31.7	18.6
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0

	12/4/25	2024
Share Price CYE	$302.18	$351.52
Market Cap CYE ($ Bil)	5.1	5.9
Total Debt ($ Bil)	0.1	0.1
Total Cash ($ Bil)	0.0	0.2
Enterprise Value ($ Bil)	5.1	6.0
Valuation Ratios
P/S TTM	4.2	6.5
P/EBIT TTM	21.9	31.8
P/E TTM	28.4	41.9
Sector Ratios
P/S TTM (Sector)	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0
P/E TTM (Sector)	0.0	0.0

	CSW	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	1.0
Rev Chg Q	21.5%	7.1%
Rev Chg LTM	14.9%	6.1%
Rev Chg 3Y Avg	11.3%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	19.3%	18.8%
CFO/Rev LTM	16.7%	20.5%
Net Inc Mgn	14.9%	13.1%
VALUATION	HIGH
P/S	4.2	3.2
P/CFO	25.4	15.8
P/FCF	27.7	20.5
P/E	28.4	23.5
STABILITY	GOOD
Debt/Equity	0.01	0.20
Cash/Assets	0.02	0.07

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Metric	Value	Date	Source
Number of Employees	Approximately 2,600	3312025	Link
Market Share in Lubricant Oil Manufacturing (U.S.)	0.7%	3312024	Link
Customer Concentration	No single customer accounts for 10% or more of revenue	5222025	Link
Number of Operating Locations	26	11052025	Link
Geographic Reach (Countries)	Over 100	5222025	Link

Upcoming
1/29/2026	Earnings Release	Rev: $250 Mil (E) EPS: $2.06 (E)

CSW Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

The requested timeframe for CSW Industrials (CSW) stock movement, from August 31, 2025, to December 4, 2025, falls within the future from the perspective of the current time. However, based on the most recent available information, several significant events and financial reports could influence investor sentiment and stock performance. Here are key points that would likely impact CSW Industrials' stock, based on recent corporate activities and financial reporting, which may contribute to a 10.6% stock movement within an relevant timeframe:

1. Record Fiscal 2026 Second Quarter and First Half Results: CSW Industrials reported record results for the fiscal 2026 second quarter and first half, ended September 30, 2025. This strong financial performance, which included increased total revenue, would typically be viewed positively by investors.

2. Strategic Acquisitions and Diversification: The company actively deployed capital on acquisitions. Notably, CSW Industrials completed the acquisition of Motors & Armatures Parts (MARS Parts) for approximately $650 million in cash in early November 2025, aiming to enhance its HVAC/R product portfolio. Additionally, in late November 2025, the company deployed over $26.5 million on acquisitions within the Specialized Reliability Solutions segment, further diversifying its end markets for specialty oils and lubricants and delivering new products.

3. Share Repurchase Program Authorization: In November 2024, CSW Industrials authorized a new $200 million share repurchase program, replacing an existing $100 million program. This action signals the Board's confidence in the company's financial health and future growth prospects, often seen as a move to enhance shareholder value.

4. Strong Q2 2025 Financials and Acquisitions: For the three months ended June 30, 2025 (Q2 2025), CSW Industrials reported a 16.6% increase in net revenues to $263.6 million, up from $226.2 million in Q2 2024. The company also completed acquisitions of Aspen Manufacturing, PF WaterWorks, and PSP Products, expanding its product offerings and market reach.

5. Analyst Ratings and Price Targets: As of early December 2025, analysts covering CSW Industrials generally had a "Hold" consensus rating with an average price target that forecasts a slight decrease over the next year. However, some analysts have recently upgraded their ratings or increased price targets, indicating varying but potentially positive sentiment among some market observers.

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Stock Movement Drivers

Fundamental Drivers

The 14.6% change in CSW stock from 9/3/2025 to 12/3/2025 was primarily driven by a 10.7% change in the company's P/E Multiple.

	9032025	12032025	Change
Stock Price ($)	263.79	302.18	14.55%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	915.77	964.79	5.35%
Net Income Margin (%)	15.18%	14.88%	-1.94%
P/E Multiple	31.90	35.32	10.73%
Shares Outstanding (Mil)	16.81	16.79	0.14%
Cumulative Contribution			14.55%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
CSW	14.6%
Market (SPY)	6.2%	38.9%
Sector (XLI)	2.9%	57.6%

Fundamental Drivers

The -0.5% change in CSW stock from 6/4/2025 to 12/3/2025 was primarily driven by a -5.2% change in the company's P/E Multiple.

	6042025	12032025	Change
Stock Price ($)	303.57	302.18	-0.46%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	878.30	964.79	9.85%
Net Income Margin (%)	15.56%	14.88%	-4.34%
P/E Multiple	37.25	35.32	-5.18%
Shares Outstanding (Mil)	16.77	16.79	-0.09%
Cumulative Contribution			-0.46%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
CSW	-0.5%
Market (SPY)	15.1%	47.0%
Sector (XLI)	7.6%	61.8%

Fundamental Drivers

The -27.7% change in CSW stock from 12/3/2024 to 12/3/2025 was primarily driven by a -38.4% change in the company's P/E Multiple.

	12032024	12032025	Change
Stock Price ($)	417.87	302.18	-27.69%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	839.93	964.79	14.87%
Net Income Margin (%)	13.77%	14.88%	8.12%
P/E Multiple	57.34	35.32	-38.40%
Shares Outstanding (Mil)	15.87	16.79	-5.79%
Cumulative Contribution			-27.93%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
CSW	-27.7%
Market (SPY)	14.3%	65.1%
Sector (XLI)	9.8%	69.6%

Fundamental Drivers

The 150.5% change in CSW stock from 12/4/2022 to 12/3/2025 was primarily driven by a 54.6% change in the company's P/E Multiple.

	12042022	12032025	Change
Stock Price ($)	120.62	302.18	150.53%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	700.71	964.79	37.69%
Net Income Margin (%)	11.63%	14.88%	27.92%
P/E Multiple	22.84	35.32	54.64%
Shares Outstanding (Mil)	15.44	16.79	-8.72%
Cumulative Contribution			148.63%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
CSW	68.8%
Market (SPY)	53.2%	62.7%
Sector (XLI)	45.4%	68.6%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CSW Return	46%	9%	-4%	80%	71%	-21%	271%
Peers Return	-11%	95%	9%	4%	6%	22%	154%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
CSW Win Rate	58%	58%	42%	67%	83%	30%
Peers Win Rate	43%	53%	48%	45%	48%	46%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
CSW Max Drawdown	-24%	-1%	-19%	0%	-3%	-34%
Peers Max Drawdown	-54%	-4%	-18%	-28%	-18%	-25%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HON, TTI, HHS, MMM, CSL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	CSW	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-32.5%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	48.2%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	230 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-27.3%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	37.6%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	200 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-21.9%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	28.0%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	119 days	120 days

Compare to HON, TTI, HHS, MMM, CSL

In The Past

CSW Industrials's stock fell -32.5% during the 2022 Inflation Shock from a high on 11/2/2021. A -32.5% loss requires a 48.2% gain to breakeven.

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About CSW Industrials (CSW)

CSW Industrials, Inc. operates as a diversified industrial company in the United States and internationally. It operates through two segments, Industrial Products and Specialty Chemicals. The Industrial Products segment offers specialty mechanical products; grilles, registers, and diffusers; fire and smoke protection products; architecturally specified building products; and storage, filtration, and application equipment for use with its specialty chemicals and other products for general industrial applications. The Specialty Chemicals segment offers lubricants and greases, drilling compounds, anti-seize compounds, chemical formulations, degreasers and cleaners, penetrants, pipe thread sealants, fire stopping sealants and caulks, and adhesives/solvent cement. The company serves the heating, ventilation, and air conditioning; and plumbing, refrigeration, commercial construction, electrical, rail car and locomotive, cement, energy, infrastructure drilling and boring, mining, oil and gas, power generation, steel, water well drilling, and general industrial markets. It sells its products under the RectorSeal No. 5, Kopr Kote, KATS Coatings, Jet-Lube, Smoke Guard, Safe-T-Switch, Mighty Bracket, Balco, Whitmore Rail, Air Sentry, Oil Safe, Deacon, Leak Freeze, Greco, and TRUaire brands. The company was incorporated in 2014 and is headquartered in Dallas, Texas.

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Here are 1-2 brief analogies for CSW Industrials (CSW):

CSW Industrials is like a smaller, more focused 3M or Illinois Tool Works (ITW), providing essential specialty chemicals, building products, and mechanical solutions for commercial and industrial applications.
Think of CSW as similar to Carlisle Companies, but with a broader portfolio that includes specialty chemicals, architectural building products, and HVAC/R mechanical components.

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Contractor Solutions Products:
- Firestopping Solutions: Systems and products designed to prevent the spread of fire and smoke through penetrations and joint openings in fire-rated construction.
- HVAC/R & Plumbing Products: A variety of chemical and mechanical products including sealants, adhesives, lubricants, and specialty tools for heating, ventilation, air conditioning, refrigeration, and plumbing applications.
- Architectural Building Products: Includes expansion joint systems, entrance mats, and trench grates for commercial and institutional buildings.
Specialty Resources Products:
- Industrial Coatings and Sealants: Protective and high-performance coatings and sealants used in diverse industrial, energy, and infrastructure sectors.
- Pavement Marking Solutions: Specialized materials for traffic safety and guidance through pavement markings.
Industrial Adhesives and Sealants Products:
- Infrastructure Adhesives and Sealants: High-performance adhesives and sealants developed for demanding infrastructure and construction projects.

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CSW Industrials (CSW) sells primarily to other companies (B2B).

According to their latest public filings (e.g., the 2023 Form 10-K), no single customer accounted for more than 10% of consolidated net sales during the fiscal years 2023, 2022, or 2021. This indicates a diversified customer base, and as such, no specific "major customer" companies are individually identified by name with their symbols in their public disclosures.

However, CSW Industrials' sales channels primarily involve distributing its products through a relatively small number of large national and regional distributors and wholesalers. These business customers then sell to a wide array of end-users across various industries. While not individually identified as "major" due to the lack of sales concentration with any single entity, the primary categories of business customers CSW serves include:

Industrial and Construction Distributors/Wholesalers: These are key intermediaries for CSW's specialty chemicals, architectural building products, and industrial components. They supply products to a broad base of HVAC, plumbing, electrical, general industrial, and construction contractors and businesses.
Original Equipment Manufacturers (OEMs): CSW supplies components and specialty chemicals that are integrated into other companies' manufactured products.
Commercial and Residential Contractors: While often reached through distributors, large commercial and residential contractors also represent a significant end-user segment for CSW's building products and specialty chemicals for direct project application.

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Here is the management team for CSW Industrials (symbol: CSW):

Joseph B. Armes, Chairman, Chief Executive Officer & President

Mr. Armes has served as Chief Executive Officer and Chairman of the Board of CSW Industrials since September 2015, and as President since February 2018. Prior to the spin-off of CSW Industrials from Capital Southwest Corporation in September 2015, he was the Chief Executive Officer and President of Capital Southwest Corporation from June 2013 to September 2015, and Chairman of its board of directors from January 2014 through August 2017. Mr. Armes was a board member of Switchback Energy Acquisition Corporation (2019-2021), a special purpose acquisition company, until its merger with ChargePoint Holdings, Inc. He also served as a board member and audit committee chairman for RSP Permian, Inc. (2013-2018), an independent oil and natural gas exploration and production company, prior to its acquisition by Concho Resources Inc. in July 2018. From 2005 to 2010, Mr. Armes was the Chief Operating Officer of Hicks Holdings LLC, a private investment firm. He began his career as an attorney specializing in mergers and acquisitions.

James E. Perry, Executive Vice President and Chief Financial Officer

Mr. Perry has served as Executive Vice President and Chief Financial Officer of CSW Industrials since June 2020. From 2004 through May 2020, he held various senior financial leadership roles at Trinity Industries, a publicly held, diversified industrial company, including serving as Chief Financial Officer from May 2010 to February 2019. Earlier in his career, from 2001 to 2004, Mr. Perry was a senior financial executive at RMH Teleservices, where he also served as Chief Financial Officer. He started his career in the investment banking division at JP Morgan Chase & Co. and spent time in a consulting group at Ernst & Young LLP.

Donal J. Sullivan, Executive Vice President, General Manager, Contractor Solutions

Mr. Sullivan has served as Senior Vice President & General Manager, Industrial Products since January 2016. Prior to this, he was the Chief Operating Officer for RectorSeal, one of CSW Industrials' operating subsidiaries, from May 2015 to January 2016. From October 2010 to April 2015, he served as Division President of Goodman Global, a member of the Daikin Group. Before 2005, Mr. Sullivan held various management positions in sales, product management, and general management at Carrier Corporation.

Luke E. Alverson, Senior Vice President, General Counsel & Secretary

Mr. Alverson has served as Senior Vice President, General Counsel and Secretary of CSW Industrials since February 2016. From May 2008 to February 2016, he held roles of increasing responsibility with Flowserve Corporation, a global manufacturer of fluid motion control products, most recently as Vice President, Corporate Legal Services and Assistant Secretary. Prior to 2008, Mr. Alverson was associated with the law firms of Vinson & Elkins, LLP and Hallett & Perrin, P.C.

Danielle R. Garde, Senior Vice President

Ms. Garde is a Senior Vice President at CSW Industrials.

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CSW Industrials (symbol: CSW) operates in several addressable markets through its three segments: Contractor Solutions, Specialized Reliability Solutions, and Engineered Building Solutions. The market sizes for their main products and services are identified below:

Contractor Solutions Segment

This segment primarily focuses on products for heating, ventilation, air conditioning, and refrigeration (HVAC/R) applications, as well as plumbing applications, electrical, and firestopping consumables and accessories.

For the global Heating, Ventilation, and Cooling (HVAC) system market, the size was valued at USD 165.88 billion in 2024 and is projected to grow to USD 256.95 billion by 2032.
The U.S. HVAC System Market is projected to reach an estimated value of USD 62.03 billion by 2032.
The global HVAC Refrigeration Systems market size is estimated at USD 251.42 billion in 2025 and is expected to boost sales to USD 465.36 billion by 2033.

Specialized Reliability Solutions Segment

This segment provides specialty lubricants, compounds, sealants, desiccant breather filtration products, and lubrication management systems, which are used in demanding environments like the mining, rail, energy (oil & gas), and general industrial sectors.

The global Specialty Chemicals Market was valued at USD 978.97 billion in 2024 and is projected to reach USD 1,312.78 billion by 2030.
The global Adhesives and Sealants Market is estimated at USD 85.38 billion in 2025 and is projected to reach USD 114.94 billion by 2030.

Engineered Building Solutions Segment

This segment offers code-driven, life-safety products for the construction, refurbishment, and modernization of commercial, institutional, and multi-family residential buildings. While CSW Industrials operates in the Building Products industry, a specific, directly quantifiable addressable market size for "Engineered Building Solutions" or its specific product categories (e.g., life-safety products for buildings) was not identified in the provided search results.

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CSW Industrials (symbol: CSW) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, new product innovation, expansion of market channels, and targeted organic growth within its segments. Here are the key drivers:

Strategic Acquisitions (Inorganic Growth): A primary driver of CSW Industrials' revenue growth has been, and is expected to continue to be, strategic acquisitions. Recent acquisitions such as Aspen Manufacturing, PSP Products, PF WaterWorks, and the announced MARS Parts acquisition (expected to close November 2025) have significantly expanded product offerings, particularly in the HVAC/R sector, and contributed substantially to revenue increases. The company consistently emphasizes its commitment to an M&A strategy and pursuing an acquisition pipeline of innovative companies and products that complement organic growth.
New Product Introductions and Innovation: CSW Industrials places a strong focus on investing in innovative products and commercially attractive solutions. This strategy involves launching new products and solutions, which helps to enhance revenue growth across the markets served. An example of this is the focus on enhancing product lines, particularly in data center-related fire safety products.
Expansion of Channels to Market and Market Share: The company aims to maximize its channels to market by growing its robust distribution network, which includes buying groups and national account relationships. This focus on strengthening its go-to-market strategy allows CSW Industrials to increase market share and leverage its logistics, supply agreements, and sales infrastructure for faster and more cost-effective sales.
Organic Growth in Key Segments: While recent reports indicate some organic revenue decline in the Contractor Solutions segment, CSW Industrials anticipates mid to high single-digit organic growth in the coming quarters for Contractor Solutions. Furthermore, the Engineered Building Solutions segment has shown organic growth volume. The company's overall strategy is to deliver sustainable growth that exceeds the markets it serves, indicating an ongoing focus on organic expansion within its diversified industrial segments.

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Share Repurchases

A new $200 million share repurchase program was authorized on November 18, 2024, replacing an existing $100 million program and set to expire on December 31, 2026.
In the quarter ended September 30, 2025, CSW Industrials repurchased 72,911 shares for $18.32 million.
Since 2015, the company has returned over $200 million to shareholders through share repurchases and dividends.

Share Issuance

On September 5, 2024, CSW Industrials upsized and priced a public offering of 1,100,000 shares of common stock at $285 per share, generating gross proceeds of approximately $313.5 million.
The net proceeds from the September 2024 offering were intended to repay outstanding debt and for general corporate purposes, including potential future acquisitions.

Outbound Investments

On November 4, 2025, CSW Industrials completed the acquisition of Motors & Armatures Parts (MARS Parts) for approximately $650 million in cash.
On May 1, 2025, CSW Industrials completed the acquisition of Aspen Manufacturing for approximately $313.5 million in cash, enhancing its HVAC/R product portfolio.
In February 2024, the company deployed $30.3 million for the acquisitions of Dust Free, Guardian Drain Lock, and Sure Grade Drain, focusing on indoor air quality and plumbing markets.

Capital Expenditures

Capital expenditures for fiscal year 2024 were $16.6 million, following $14.0 million in fiscal year 2023.
These expenditures have focused on capacity expansion, enterprise resource planning (ERP) systems, new product introductions, safety enhancements, and automation.
CSWI's capital expenditures typically comprise approximately 2% of revenue.

Better Bets than CSW Industrials (CSW)

	CSW	Better Performance than CSW
Metric	Value	INDUSTRY: Industrial Conglomerates
Rev Chg LTM	14.9%	TUSK (80.7%), FIP (32.4%), TRC (15.7%)
Rev Chg 3Y Avg	11.3%	FIP (23.3%), BOC (19.3%), AIRT (16.9%)
Op Mgn LTM	19.3%	CSL (20.7%), MMM (20.5%)
CFO/Rev LTM	16.7%	TUSK (56.7%), CSL (21.7%), TRC (19.7%), BOC (19.2%), HON (18.4%)
FCF/Rev LTM	15.2%	TUSK (30.8%), CSL (19.1%)
Total Yield	3.9%	TTI (15.9%), SEB (11.5%), CSL (6.8%), HON (6.8%), MMM (5.0%)
P/S	4.2	SEB (0.4), TTI (1.2), CSL (2.8), HON (3.3), MMM (3.3)
P/Op Inc	21.9	SEB (12.1), TTI (12.6), CSL (13.5), MMM (16.3), HON (17.4)

	CSW	Better Performance than CSW
Metric	Value	SECTOR: Industrials
Rev Chg LTM	14.9%	VRT (28.8%), JCI (22.2%), UBER (18.2%), GE (17.7%), WM (15.9%)
Rev Chg 3Y Avg	11.3%	EMR (24.9%), UBER (19.6%), TDG (18.2%), GE (15.7%), HWM (13.5%)
Op Mgn LTM	19.3%	UNP (40.6%), ADP (26.2%), PH (20.7%), GE (20.5%), DE (20.0%)
CFO/Rev LTM	16.7%	UNP (39.6%), DE (19.7%), UBER (18.1%), CAT (18.0%), GE (17.2%)
FCF/Rev LTM	15.2%	UNP (24.5%), TDG (22.2%), ADP (20.1%), UBER (17.5%), PH (16.9%)
Total Yield	3.9%	UBER (8.1%), UNP (7.3%), CAT (6.7%), DE (5.0%), RTX (4.5%)
P/S	4.2	BA (2.0), RTX (2.6), CAT (2.9), DE (3.2), UBER (4.1)
P/Op Inc	21.9	UNP (14.0), CAT (15.8), DE (15.9), HON (17.4), ADP (21.7)

	CSW	Better Performance than CSW
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	14.9%	NVDA (71.6%), LLY (36.8%), AVGO (28.0%), META (21.3%), MSFT (15.6%)
Rev Chg 3Y Avg	11.3%	NVDA (92.0%), AVGO (24.0%), META (17.3%), MSFT (13.2%), AMZN (11.3%)
Op Mgn LTM	19.3%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	16.7%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	15.2%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	3.9%	XOM (10.3%), JNJ (8.4%), JPM (6.7%), BRK-B (6.2%), GOOGL (4.6%)
P/S	4.2	WMT (1.1), XOM (1.4), COST (1.5), BRK-B (2.7), AMZN (3.5)
P/Op Inc	21.9	XOM (12.4), V (16.6), HD (16.8), PG (17.5), JNJ (18.5)

		Best Bets In Industrials Sector
	CSW
What You Pay
P/E	28.4
P/EBIT	21.9
What You Get
Rev Chg Q	21.5%
Rev Chg LTM	14.9%
Rev Chg 3Y Avg	11.3%
FCF/Rev 3Y Avg	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	CSW Industrials Earnings Notes
2	Can CSW Industrials Stock Hold Up When Markets Turn?	Return

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to CSW. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.3%	7.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.3%	2.3%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	2.2%	2.2%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.3%	7.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.3%	2.3%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	2.2%	2.2%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for CSW Industrials

Peers to compare with:

Financials

	CSW	HON	TTI	HHS	MMM	CSL	Median
Name	CSW Indu.	Honeywel.	Tetra Te.	Harte-Ha.	3M	Carlisle.
Mkt Price	302.18	193.47	8.65	3.68	173.09	321.18	183.28
Mkt Cap	5.1	122.9	1.2	0.0	92.4	13.7	9.4
Rev LTM	965	40,670	619	175	24,825	5,015	2,990
Op Inc LTM	186	7,692	61	6	5,082	1,036	611
FCF LTM	147	6,164	6	-7	1,588	958	553
FCF 3Y Avg	160	5,212	3	4	2,393	987	573
CFO LTM	161	7,485	74	-5	2,541	1,086	624
CFO 3Y Avg	176	6,336	56	7	3,715	1,120	648

Growth & Margins

	CSW	HON	TTI	HHS	MMM	CSL	Median
Name	CSW Indu.	Honeywel.	Tetra Te.	Harte-Ha.	3M	Carlisle.
Rev Chg LTM	14.9%	7.5%	0.2%	-6.5%	1.1%	0.1%	0.6%
Rev Chg 3Y Avg	11.3%	5.2%	6.4%	-4.1%	-10.3%	-0.7%	2.3%
Rev Chg Q	21.5%	7.0%	8.1%	-14.2%	3.5%	1.0%	5.3%
QoQ Delta Rev Chg LTM	5.4%	1.7%	1.9%	-3.5%	0.9%	0.3%	1.3%
Op Mgn LTM	19.3%	18.9%	9.8%	3.2%	20.5%	20.7%	19.1%
Op Mgn 3Y Avg	20.0%	19.5%	8.2%	4.4%	1.1%	21.5%	13.8%
QoQ Delta Op Mgn LTM	-0.5%	-0.9%	-0.3%	-0.8%	1.0%	-0.5%	-0.5%
CFO/Rev LTM	16.7%	18.4%	12.0%	-2.6%	10.2%	21.7%	14.3%
CFO/Rev 3Y Avg	20.8%	16.4%	9.1%	3.3%	13.8%	23.1%	15.1%
FCF/Rev LTM	15.2%	15.2%	1.0%	-4.3%	6.4%	19.1%	10.8%
FCF/Rev 3Y Avg	18.9%	13.5%	0.5%	1.7%	8.8%	20.3%	11.2%

Valuation

	CSW	HON	TTI	HHS	MMM	CSL	Median
Name	CSW Indu.	Honeywel.	Tetra Te.	Harte-Ha.	3M	Carlisle.
Mkt Cap	5.1	122.9	1.2	0.0	92.4	13.7	9.4
P/S	4.2	3.3	1.2	0.2	3.3	2.8	3.0
P/EBIT	21.9	15.2	13.1	6.9	16.0	13.4	14.3
P/E	28.4	21.8	6.3	-9.7	24.4	18.0	19.9
P/CFO	25.4	17.9	10.3	-6.4	32.6	12.9	15.4
Total Yield	3.9%	6.8%	15.9%	-10.3%	5.0%	6.8%	5.9%
Dividend Yield	0.4%	2.2%	0.0%	0.0%	0.9%	1.3%	0.7%
FCF Yield 3Y Avg	4.1%	4.0%	0.2%	7.6%	4.7%	6.6%	4.4%
D/E	0.0	0.3	0.3	0.8	0.2	0.2	0.2
Net D/E	0.0	0.2	0.2	0.6	0.1	0.1	0.2

Returns

	CSW	HON	TTI	HHS	MMM	CSL	Median
Name	CSW Indu.	Honeywel.	Tetra Te.	Harte-Ha.	3M	Carlisle.
1M Rtn	21.3%	-1.6%	20.6%	22.3%	7.2%	-1.0%	13.9%
3M Rtn	14.6%	-3.5%	83.3%	3.7%	14.4%	-14.2%	9.0%
6M Rtn	-0.5%	-8.8%	202.4%	-15.2%	19.0%	-15.4%	-4.6%
12M Rtn	-27.7%	-7.6%	122.4%	-31.9%	34.5%	-26.9%	-17.3%
3Y Rtn	150.5%	-0.1%	125.3%	-66.8%	82.0%	27.9%	55.0%
1M Excs Rtn	21.3%	-1.6%	20.7%	22.3%	7.2%	-1.0%	13.9%
3M Excs Rtn	8.4%	-9.4%	76.0%	-6.6%	6.4%	-23.1%	-0.1%
6M Excs Rtn	-15.2%	-23.5%	187.7%	-29.9%	4.2%	-30.1%	-19.3%
12M Excs Rtn	-41.7%	-23.5%	111.1%	-50.5%	18.5%	-42.4%	-32.6%
3Y Excs Rtn	86.0%	-71.4%	70.2%	-136.4%	12.7%	-43.7%	-15.5%

Financials

Annual
Quarterly

$ Mil \| FY: 3/31	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	3/31/2025	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020
Filing Date	10/30/2025	5/22/2025	5/23/2024	5/25/2023	5/18/2022	5/20/2021	5/20/2020
Key Financials
Total Revenue	965	878	793	758	626	419	386
EBITDA	237	223	191	175	134	76	74
Operating Income	186	181	159	139	97	59	67
Net Income	144	137	102	96	66	40	46
EPS	8.54	8.41	6.54	6.22	4.21	2.67	3.04
Growth Rates
Total Revenue Growth	14.9%	10.8%	4.6%	21.0%	49.4%	8.6%	10.2%
EBITDA Growth	12.0%	17.0%	9.3%	30.5%	75.4%	3.7%	-4.1%
Operating Income Growth	4.4%	13.9%	14.4%	42.8%	64.4%	-11.4%	10.5%
Net Income Growth	24.2%	34.4%	5.4%	45.3%	65.6%	-12.3%	0.3%
Margins
EBITDA Margin	24.5%	25.4%	24.1%	23.0%	21.4%	18.2%	19.1%
Operating Income Margin	19.3%	20.6%	20.1%	18.3%	15.5%	14.1%	17.3%
Net Income Margin	14.9%	15.6%	12.8%	12.7%	10.6%	9.6%	11.8%
Cash & Debt
Total Cash	31	226	22	18	17	10	18
Total Debt	60	69	215	318	325	307	29
Net Debt / (Cash)	29	-156	193	300	309	297	11
Cash Flows
Net Cash from Operations	161	168	164	121	69	66	70
Free Cash from Operations	147	152	148	108	53	57	58
Returns to Shareholders
Dividends	17	15	12	11	9	8	8
Share Repurchases	41	28	15	39	19	10	28

$ Mil \| FY: 3/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/30/2025	7/31/2025	5/22/2025	1/30/2025	10/30/2024	7/31/2024	5/23/2024	2/1/2024	11/2/2023	8/3/2023	5/25/2023	2/2/2023
Key Financials Quarterly
Total Revenue	277	264	231	194	228	226	211	175	204	203	196	171
Ebitda	71	69	56	41	61	65	48	37	53	55	50	31
Operating Income	57	55	45	30	52	55	44	28	42	45	40	23
Net Income	41	41	35	27	36	39	32	9	30	31	27	16
EPS	2.42	2.43	2.09	1.60	2.27	2.48	2.04	0.59	1.93	1.97	1.75	1.01
Key Financials TTM
Total Revenue TTM	965	916	878	859	840	816	793	778	774	761	758	736
Ebitda TTM	237	226	223	216	211	204	193	194	189	180	175	162
Operating Income TTM	186	181	181	181	179	169	159	155	150	143	139	128
Net Income TTM	144	139	137	133	116	110	102	97	103	98	96	88
Growth Rates Quarterly
Total Revenue Growth	21.5%	16.6%	9.3%	10.7%	11.9%	11.2%	7.8%	2.3%	6.5%	1.7%	12.9%	25.5%
EBITDA Growth	17.1%	5.3%	15.0%	11.7%	14.4%	19.5%	-2.4%	17.7%	20.6%	10.0%	33.0%	47.2%
Operating Income Growth	10.1%	-0.3%	1.6%	7.3%	22.8%	21.8%	11.5%	19.3%	18.9%	10.6%	37.4%	71.8%
Net Income Growth	12.8%	6.0%	10.4%	192.2%	20.0%	26.1%	17.4%	-40.9%	23.5%	4.0%	46.7%	67.6%
Margins Quarterly
EBITDA Margin	25.7%	26.1%	24.2%	21.3%	26.7%	28.9%	23.0%	21.1%	26.1%	26.9%	25.3%	18.3%
Operating Income Margin	20.5%	20.8%	19.5%	15.3%	22.6%	24.3%	21.0%	15.8%	20.6%	22.2%	20.3%	13.5%
Net Income Margin	14.7%	15.5%	15.2%	13.9%	15.8%	17.1%	15.1%	5.3%	14.8%	15.1%	13.8%	9.1%
Cash & Debt
Total Cash	31	38	226	214	273	19	22	25	14	15	18	15
Total Debt	60	95	69	0	0	115	215	153	173	210	318	277
Net Debt / (Cash)	29	57	-156	-214	-273	96	193	128	159	195	300	262
Cash Flows Quarterly
FCF from Operations	62	61	27	11	68	63	22	47	45	50	37	37
Cash Flows TTM
FCF from Operations TTM	161	166	168	163	200	177	164	179	169	155	121	84
Returns to Shareholders Quarterly
Dividends	5	5	4	4	3	3	3	3	3	3	3	3
Share Repurchases	17	9	7	9	4	8	5	7	1	3	0	1
Return on Invested Capital (ROIC) Quarterly
ROIC	71.9%	56.3%	153.3%	249.7%	-	168.5%	70.0%	48.9%	78.4%	69.3%	39.7%	30.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	61.5%	47.2%	156.1%	338.2%	-	127.8%	60.1%	87.5%	71.7%	56.2%	35.6%	36.7%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2021
Contractor Solutions	536	514	413
Specialized Reliability Solutions	150	147	116
Engineered Building Solutions	115	104	97
Eliminations and Other	-8	-7	0
Industrial Products				235
Specialty Chemicals				151
Total	793	758	626	386

Operating Income by Segment

$ Mil	2025	2024	2023	2021
Contractor Solutions	142	126	96
Specialized Reliability Solutions	22	20	9
Engineered Building Solutions	19	13	11
Eliminations and Other	-24	-20	-19	-14
Industrial Products				56
Specialty Chemicals				25
Total	159	139	97	66

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Contractor Solutions	806	824	782	686
Specialized Reliability Solutions	140	136	126	108
Engineered Building Solutions	81	71	74	67
Eliminations and Other	16	12	12	13	25
Industrial Products					206
Specialty Chemicals					139
Total	1,043	1,043	995	875	369

Price Behavior

Price Behavior

Market Price	$302.18
Market Cap ($ Bil)	5.1
First Trading Date	05/16/2011
Distance from 52W High	-27.7%
	50 Days	200 Days
DMA Price	$248.76	$278.41
DMA Trend	down	down
Distance from DMA	21.5%	8.5%
	3M	1YR
Volatility	37.8%	38.8%
Downside Capture	145.56	163.51
Upside Capture	168.22	110.60
Correlation (SPY)	41.2%	66.5%

CSW Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.21	1.15	1.19	1.57	1.27	1.27
Up Beta	2.08	1.30	1.66	2.32	1.47	1.47
Down Beta	1.10	0.54	0.37	0.98	0.89	1.04
Up Capture	191%	182%	122%	110%	101%	230%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	12	25	33	67	124	411
Down Capture	53%	110%	155%	185%	131%	105%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	7	16	29	58	124	339

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of CSW With Other Asset Classes (Last 1Y)
	CSW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-27.3%	8.9%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	38.6%	18.9%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.74	0.32	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		69.5%	65.0%	4.5%	22.6%	50.1%	33.3%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of CSW With Other Asset Classes (Last 5Y)
	CSW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	21.9%	13.1%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	31.4%	17.2%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.68	0.61	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		63.4%	56.1%	9.3%	18.5%	43.3%	24.8%

Based On 10-Year Data

		Comparison of CSW With Other Asset Classes (Last 10Y)
	CSW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	23.9%	12.8%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	31.0%	19.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.76	0.57	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		60.7%	56.9%	6.2%	20.1%	46.0%	17.8%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	877,933
Short Interest: % Change Since 10312025	9.3%
Average Daily Volume	171,896
Days-to-Cover Short Interest	5.11
Basic Shares Quantity	16,785,000
Short % of Basic Shares	5.2%

Returns Analyses

	Title
0	Can CSW Industrials Stock Hold Up When Markets Turn?

SEC Filings

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Report Date	Filing Date	Filing
9302025	10302025	10-Q 9/30/2025
6302025	7312025	10-Q 6/30/2025
3312025	5222025	10-K 3/31/2025
12312024	1302025	10-Q 12/31/2024
9302024	10302024	10-Q 9/30/2024
6302024	7312024	10-Q 6/30/2024
3312024	5232024	10-K 3/31/2024
12312023	2012024	10-Q 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5252023	10-K 3/31/2023
12312022	2022023	10-Q 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8052022	10-Q 6/30/2022
3312022	5182022	10-K 3/31/2022
12312021	2032022	10-Q 12/31/2021

External Quote Links

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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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CSW Industrials (CSW)

Market Price (12/4/2025): $302.18 | Market Cap: $5.1 BilSector: Industrials | Industry: Industrial Conglomerates

CSW Industrials (CSW)

Market Price (12/4/2025): $302.18Market Cap: $5.1 BilSector: IndustrialsIndustry: Industrial Conglomerates

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Market Price (12/4/2025): $302.18 | Market Cap: $5.1 Bil
Sector: Industrials | Industry: Industrial Conglomerates

Market Price (12/4/2025): $302.18
Market Cap: $5.1 Bil
Sector: Industrials
Industry: Industrial Conglomerates