CSW
CSW Industrials, Inc.
CSW's fundamentals are mixed: revenue grew 30%, but its operating margin fell 2 points to 17%. At 36x earnings, it's trading in line with its usual 34x. Analysts expect earnings growth.
CSW Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Under pressure |
CSW's revenue, profitability and cash flow are currently healthy, but its balance sheet is under pressure.
CSW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $282 | — |
| Cheap | 25x | $198 | -30% |
| Fair | 34x | $263 | -6.7% |
| Current | 36x | $282 | — |
| Expensive | 43x | $333 | +18% |
Historical ranges are pointers, not guarantees.
CSW's PE is in its fair range at 36x. If earnings grow as analysts expect, today's price would be 22x next year's earnings, in its cheap range.
CSW Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for CSW, with profitability improving.
CSW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.06 | +67% |
| Q3 2026 | $7.80 | -8.1% |
| Q2 2026 | $7.31 | -12% |
| Q1 2026 | $6.70 | -20% |
| Q4 2025 | $7.51 | -10% |
| Q3 2025 | $8.49 | +16% |
| Q2 2025 | $8.34 | +19% |
| Q1 2025 | $8.38 | +29% |
| Q4 2024 | $8.36 | +34% |
CSW earned $7.80 per share over the past year, down 8.1% from the year before.
CSW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $361.4M | +31% |
| Q2 2026 | $350.7M | +33% |
| Q1 2026 | $309M | +34% |
| Q4 2025 | $233M | +20% |
| Q3 2025 | $277M | +22% |
| Q2 2025 | $263.6M | +17% |
| Q1 2025 | $230.5M | +9.3% |
| Q4 2024 | $193.6M | +11% |
CSW's revenue has grown year over year every quarter since late 2020: $361M last quarter, up 31% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +0.4 points |
| Q2 2026 | 23% | +2 points |
| Q1 2026 | 13% | -6.7 points |
| Q4 2025 | 7.4% | -7.8 points |
| Q3 2025 | 21% | -2.1 points |
| Q2 2025 | 21% | -3.5 points |
| Q1 2025 | 20% | -1.5 points |
| Q4 2024 | 15% | -0.5 points |
CSW's operating margin was 21% last quarter, about level with the same quarter a year ago.
CSW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $91.9M | +56% |
| Q2 2026 | $69.6M | +21% |
| Q1 2026 | -$6.8M | -130% |
| Q4 2025 | $22.7M | +169% |
| Q3 2025 | $58.7M | -4.2% |
| Q2 2025 | $57.7M | -3.1% |
| Q1 2025 | $22.8M | +30% |
| Q4 2024 | $8.5M | -80% |
CSW generated $177M in free cash flow over the past year, up 20% from the year before.
CSW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -32K shares |
| 1 year | -3% | -509K shares |
| 3 years | +4.8% | +745K shares |
| 5 years | +3.3% | +522K shares |
| Available history | +7.1% | +1.1M shares |
CSW has 16M diluted shares, down 3% from a year ago, with $149M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5.8M |
| Q2 2026 | $36.3M |
| Q1 2026 | $34M |
| Q4 2025 | $72.7M |
| Q3 2025 | $17M |
| Q2 2025 | $9.1M |
| Q1 2025 | $6.8M |
| Q4 2024 | $8.6M |
CSW spent $149M buying back its own shares over the past year, about four times what it spent the year before.
CSW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 3.1x | Elevated |
| Q1 2026 | 3.6x | Elevated |
| Q4 2025 | 3.3x | Elevated |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | -1.0x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
CSW's net debt is about 2.5 years of its operating earnings (EBITDA), up from less than a year a year ago.
CSW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.0 | Neutral |
| Stochastic | 10.8 | Oversold |
CSW's weekly RSI is 46 (neutral) and its Stochastic is 11 (oversold).
CSW PE vs Industrials Sector
| Metric | CSW | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 24x | 50% above |
| PE % | 57 | 58 | 1 pt below |
CSW is trading at 36x earnings, a 50% premium to the Industrials sector's median of 24x.
CSW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $288.8 | 2.5% below |
| 20 week MA | $299.8 | 6.1% below |
| 50 week MA | $292.5 | 3.8% below |
| 100 week MA | $292.2 | 3.7% below |
| 200 week MA | $259.4 | 8.5% above |
CSW has fallen below most of its moving averages, though it's still 8.5% above its 200-week average.
CSW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $77.3 | $111.7 | +45% |
| 2021 | $111.7 | $117.0 | +4.8% |
| 2022 | $117.0 | $117.2 | +0.1% |
| 2023 | $117.2 | $207.4 | +77% |
| 2024 | $207.4 | $357.4 | +72% |
| 2025 | $357.4 | $307.3 | -14% |
| 2026 YTD | $307.3 | $281.6 | -8.4% |
CSW has finished higher in five of the last six years, two of them by more than 50%. It's down 8.4% so far in 2026.