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Side-by-side financial comparison of Leslie's, Inc. (LESL) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $147.1M, roughly 1.8× Leslie's, Inc.). Smith Douglas Homes Corp. runs the higher net margin — 1.4% vs -56.4%, a 57.7% gap on every dollar of revenue. On growth, Smith Douglas Homes Corp. posted the faster year-over-year revenue change (-9.4% vs -16.0%). Smith Douglas Homes Corp. produced more free cash flow last quarter ($8.7M vs $-85.5M). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% CAGR vs -11.7%).
Leslie's, Inc., operating as Leslie's Swimming Pool Supplies, is the largest retailer of swimming pool supplies and related products. The company is headquartered in Phoenix, Arizona, and has a particularly strong retail presence in Arizona, California, Florida, Georgia and Texas.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
LESL vs SDHC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $147.1M | $260.4M |
| Net Profit | $-83.0M | $3.5M |
| Gross Margin | 18.4% | 19.9% |
| Operating Margin | -46.7% | 6.5% |
| Net Margin | -56.4% | 1.4% |
| Revenue YoY | -16.0% | -9.4% |
| Net Profit YoY | -86.2% | -14.3% |
| EPS (diluted) | $-8.92 | $0.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $147.1M | — | ||
| Q4 25 | $389.2M | $260.4M | ||
| Q3 25 | — | $262.0M | ||
| Q2 25 | $500.3M | $223.9M | ||
| Q1 25 | $177.1M | $224.7M | ||
| Q4 24 | $175.2M | $287.5M | ||
| Q3 24 | $397.9M | $277.8M | ||
| Q2 24 | $569.6M | $220.9M |
| Q1 26 | $-83.0M | — | ||
| Q4 25 | $-162.8M | $3.5M | ||
| Q3 25 | — | $2.1M | ||
| Q2 25 | $21.7M | $2.4M | ||
| Q1 25 | $-51.3M | $2.7M | ||
| Q4 24 | $-44.6M | $4.1M | ||
| Q3 24 | $-9.9M | $5.3M | ||
| Q2 24 | $60.6M | $3.6M |
| Q1 26 | 18.4% | — | ||
| Q4 25 | 38.6% | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | 39.6% | 23.2% | ||
| Q1 25 | 24.8% | 23.8% | ||
| Q4 24 | 27.2% | 25.5% | ||
| Q3 24 | 36.0% | 26.5% | ||
| Q2 24 | 40.2% | 26.7% |
| Q1 26 | -46.7% | — | ||
| Q4 25 | -38.6% | 6.5% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | 13.7% | 7.7% | ||
| Q1 25 | -27.3% | 8.7% | ||
| Q4 24 | -22.7% | 10.4% | ||
| Q3 24 | 6.6% | 14.2% | ||
| Q2 24 | 17.2% | 11.7% |
| Q1 26 | -56.4% | — | ||
| Q4 25 | -41.8% | 1.4% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | 4.3% | 1.1% | ||
| Q1 25 | -29.0% | 1.2% | ||
| Q4 24 | -25.4% | 1.4% | ||
| Q3 24 | -2.5% | 1.9% | ||
| Q2 24 | 10.6% | 1.7% |
| Q1 26 | $-8.92 | — | ||
| Q4 25 | $-20.59 | $0.39 | ||
| Q3 25 | — | $0.24 | ||
| Q2 25 | $0.12 | $0.26 | ||
| Q1 25 | $-0.28 | $0.30 | ||
| Q4 24 | $-4.82 | $0.50 | ||
| Q3 24 | $-2.46 | $0.58 | ||
| Q2 24 | $0.33 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.6M | $12.7M |
| Total DebtLower is stronger | $781.6M | — |
| Stockholders' EquityBook value | $-489.9M | $86.7M |
| Total Assets | $649.4M | $557.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.6M | — | ||
| Q4 25 | $64.3M | $12.7M | ||
| Q3 25 | — | $14.8M | ||
| Q2 25 | $42.7M | $16.8M | ||
| Q1 25 | $17.3M | $12.7M | ||
| Q4 24 | $11.6M | $22.4M | ||
| Q3 24 | $108.5M | $23.7M | ||
| Q2 24 | $74.4M | $17.3M |
| Q1 26 | $781.6M | — | ||
| Q4 25 | $756.6M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $776.6M | — | ||
| Q1 25 | $858.1M | — | ||
| Q4 24 | $796.6M | — | ||
| Q3 24 | $783.7M | — | ||
| Q2 24 | $783.7M | — |
| Q1 26 | $-489.9M | — | ||
| Q4 25 | $-408.0M | $86.7M | ||
| Q3 25 | — | $82.2M | ||
| Q2 25 | $-246.2M | $80.0M | ||
| Q1 25 | $-269.5M | $76.9M | ||
| Q4 24 | $-220.0M | $73.6M | ||
| Q3 24 | $-177.1M | $68.4M | ||
| Q2 24 | $-168.2M | $62.1M |
| Q1 26 | $649.4M | — | ||
| Q4 25 | $741.5M | $557.6M | ||
| Q3 25 | — | $571.6M | ||
| Q2 25 | $989.5M | $570.2M | ||
| Q1 25 | $1.0B | $513.9M | ||
| Q4 24 | $967.0M | $475.9M | ||
| Q3 24 | $1.1B | $460.1M | ||
| Q2 24 | $1.1B | $429.3M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-81.1M | $9.8M |
| Free Cash FlowOCF − Capex | $-85.5M | $8.7M |
| FCF MarginFCF / Revenue | -58.1% | 3.4% |
| Capex IntensityCapex / Revenue | 2.9% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $7.6M | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-81.1M | — | ||
| Q4 25 | $48.2M | $9.8M | ||
| Q3 25 | — | $22.8M | ||
| Q2 25 | $114.9M | $-28.9M | ||
| Q1 25 | $-49.2M | $-34.9M | ||
| Q4 24 | $-105.1M | $5.5M | ||
| Q3 24 | $47.1M | $22.9M | ||
| Q2 24 | $175.5M | $39.0K |
| Q1 26 | $-85.5M | — | ||
| Q4 25 | $41.8M | $8.7M | ||
| Q3 25 | — | $21.4M | ||
| Q2 25 | $107.1M | $-31.1M | ||
| Q1 25 | $-55.8M | $-35.9M | ||
| Q4 24 | $-109.8M | $4.8M | ||
| Q3 24 | $34.1M | $22.3M | ||
| Q2 24 | $165.2M | $-2.1M |
| Q1 26 | -58.1% | — | ||
| Q4 25 | 10.7% | 3.4% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | 21.4% | -13.9% | ||
| Q1 25 | -31.5% | -16.0% | ||
| Q4 24 | -62.6% | 1.7% | ||
| Q3 24 | 8.6% | 8.0% | ||
| Q2 24 | 29.0% | -1.0% |
| Q1 26 | 2.9% | — | ||
| Q4 25 | 1.7% | 0.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | 1.6% | 0.9% | ||
| Q1 25 | 3.7% | 0.5% | ||
| Q4 24 | 2.7% | 0.2% | ||
| Q3 24 | 3.2% | 0.2% | ||
| Q2 24 | 1.8% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.77× | ||
| Q3 25 | — | 10.70× | ||
| Q2 25 | 5.29× | -12.24× | ||
| Q1 25 | — | -13.01× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | 2.89× | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LESL
Segment breakdown not available.
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
