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Side-by-side financial comparison of Leslie's, Inc. (LESL) and STAR GROUP, L.P. (SGU). Click either name above to swap in a different company.
STAR GROUP, L.P. is the larger business by last-quarter revenue ($539.3M vs $147.1M, roughly 3.7× Leslie's, Inc.). STAR GROUP, L.P. runs the higher net margin — 6.6% vs -56.4%, a 63.0% gap on every dollar of revenue. On growth, STAR GROUP, L.P. posted the faster year-over-year revenue change (10.5% vs -16.0%). STAR GROUP, L.P. produced more free cash flow last quarter ($-59.7M vs $-85.5M).
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.
Lone Star Funds, legal name of main entity Lone Star Global Acquisitions, Ltd. is a global private equity firm that invests in corporate equity, real estate, credit, and other financial assets. The founder of Lone Star established its first fund in 1995 and Lone Star has to date organized 25 private equity funds with total capital commitments since inception of over $95 billion. Lone Star's investors include corporate and public pension funds, sovereign wealth funds, university endowments, fo...
LESL vs SGU — Head-to-Head
Income Statement — Q1 2026 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $147.1M | $539.3M |
| Net Profit | $-83.0M | $35.8M |
| Gross Margin | 18.4% | — |
| Operating Margin | -46.7% | 10.1% |
| Net Margin | -56.4% | 6.6% |
| Revenue YoY | -16.0% | 10.5% |
| Net Profit YoY | -86.2% | 8.8% |
| EPS (diluted) | $-8.92 | — |
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 | $539.3M | ||
| Q2 25 | $500.3M | — | ||
| Q1 25 | $177.1M | — | ||
| Q4 24 | $175.2M | — | ||
| Q3 24 | $397.9M | — | ||
| Q2 24 | $569.6M | — | ||
| Q1 24 | $188.7M | — |
| Q1 26 | $-83.0M | — | ||
| Q4 25 | $-162.8M | $35.8M | ||
| Q2 25 | $21.7M | — | ||
| Q1 25 | $-51.3M | — | ||
| Q4 24 | $-44.6M | — | ||
| Q3 24 | $-9.9M | — | ||
| Q2 24 | $60.6M | — | ||
| Q1 24 | $-34.6M | — |
| Q1 26 | 18.4% | — | ||
| Q4 25 | 38.6% | — | ||
| Q2 25 | 39.6% | — | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 27.2% | — | ||
| Q3 24 | 36.0% | — | ||
| Q2 24 | 40.2% | — | ||
| Q1 24 | 28.8% | — |
| Q1 26 | -46.7% | — | ||
| Q4 25 | -38.6% | 10.1% | ||
| Q2 25 | 13.7% | — | ||
| Q1 25 | -27.3% | — | ||
| Q4 24 | -22.7% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 17.2% | — | ||
| Q1 24 | -16.2% | — |
| Q1 26 | -56.4% | — | ||
| Q4 25 | -41.8% | 6.6% | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | -29.0% | — | ||
| Q4 24 | -25.4% | — | ||
| Q3 24 | -2.5% | — | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | -18.3% | — |
| Q1 26 | $-8.92 | — | ||
| Q4 25 | $-20.59 | — | ||
| Q2 25 | $0.12 | — | ||
| Q1 25 | $-0.28 | — | ||
| Q4 24 | $-4.82 | — | ||
| Q3 24 | $-2.46 | — | ||
| Q2 24 | $0.33 | — | ||
| Q1 24 | $-0.19 | — |
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 | $19.9M |
| Total DebtLower is stronger | $781.6M | $254.8M |
| Stockholders' EquityBook value | $-489.9M | — |
| Total Assets | $649.4M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.6M | — | ||
| Q4 25 | $64.3M | $19.9M | ||
| Q2 25 | $42.7M | — | ||
| Q1 25 | $17.3M | — | ||
| Q4 24 | $11.6M | — | ||
| Q3 24 | $108.5M | — | ||
| Q2 24 | $74.4M | — | ||
| Q1 24 | $8.4M | — |
| Q1 26 | $781.6M | — | ||
| Q4 25 | $756.6M | $254.8M | ||
| Q2 25 | $776.6M | — | ||
| Q1 25 | $858.1M | — | ||
| Q4 24 | $796.6M | — | ||
| Q3 24 | $783.7M | — | ||
| Q2 24 | $783.7M | — | ||
| Q1 24 | $882.7M | — |
| Q1 26 | $-489.9M | — | ||
| Q4 25 | $-408.0M | — | ||
| Q2 25 | $-246.2M | — | ||
| Q1 25 | $-269.5M | — | ||
| Q4 24 | $-220.0M | — | ||
| Q3 24 | $-177.1M | — | ||
| Q2 24 | $-168.2M | — | ||
| Q1 24 | $-231.0M | — |
| Q1 26 | $649.4M | — | ||
| Q4 25 | $741.5M | $1.1B | ||
| Q2 25 | $989.5M | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $967.0M | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
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 | $-55.2M |
| Free Cash FlowOCF − Capex | $-85.5M | $-59.7M |
| FCF MarginFCF / Revenue | -58.1% | -11.1% |
| Capex IntensityCapex / Revenue | 2.9% | 0.8% |
| Cash ConversionOCF / Net Profit | — | -1.54× |
| TTM Free Cash FlowTrailing 4 quarters | $7.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-81.1M | — | ||
| Q4 25 | $48.2M | $-55.2M | ||
| Q2 25 | $114.9M | — | ||
| Q1 25 | $-49.2M | — | ||
| Q4 24 | $-105.1M | — | ||
| Q3 24 | $47.1M | — | ||
| Q2 24 | $175.5M | — | ||
| Q1 24 | $-43.2M | — |
| Q1 26 | $-85.5M | — | ||
| Q4 25 | $41.8M | $-59.7M | ||
| Q2 25 | $107.1M | — | ||
| Q1 25 | $-55.8M | — | ||
| Q4 24 | $-109.8M | — | ||
| Q3 24 | $34.1M | — | ||
| Q2 24 | $165.2M | — | ||
| Q1 24 | $-56.5M | — |
| Q1 26 | -58.1% | — | ||
| Q4 25 | 10.7% | -11.1% | ||
| Q2 25 | 21.4% | — | ||
| Q1 25 | -31.5% | — | ||
| Q4 24 | -62.6% | — | ||
| Q3 24 | 8.6% | — | ||
| Q2 24 | 29.0% | — | ||
| Q1 24 | -29.9% | — |
| Q1 26 | 2.9% | — | ||
| Q4 25 | 1.7% | 0.8% | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 7.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.54× | ||
| Q2 25 | 5.29× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.89× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LESL
Segment breakdown not available.
SGU
| Home Heating Oil And Propane | $372.6M | 69% |
| Motor Fuel And Other Petroleum Products | $75.4M | 14% |
| Equipment Installations | $39.6M | 7% |
| Equipment Maintenance Service Contracts | $30.3M | 6% |
| Billable Call Services | $21.4M | 4% |
