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Fluidra
(BME:FDR)
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Rating:62Neutral
Price Target:
€21.00
▼(-1.13% Downside)
Action:Reiterated
Date:03/01/26
The score is driven primarily by solid and improving financial performance (better 2025 margins and strong free-cash-flow rebound) but is held back by weak technical momentum (price below key moving averages with negative MACD). Valuation is neither clearly attractive nor extreme, with a higher P/E partly offset by a moderate dividend yield.
Positive Factors
Recurring installed-base aftermarket
Fluidra's business model combines new pool construction with a broad installed base that generates recurring aftermarket revenue from parts, consumables and upgrades. This multi-channel, repeat-purchase dynamic supports durable revenue streams and customer stickiness over economic cycles, helping stabilize long-term cash flows and margin recovery.
Negative Factors
Uneven revenue growth
Top-line performance has been uneven, showing sensitivity to construction cycles and end-market demand. This variability increases forecasting risk and means that profits and cash flows can swing materially if new-build activity softens, limiting predictability of medium-term earnings despite aftermarket support.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring installed-base aftermarket
Fluidra's business model combines new pool construction with a broad installed base that generates recurring aftermarket revenue from parts, consumables and upgrades. This multi-channel, repeat-purchase dynamic supports durable revenue streams and customer stickiness over economic cycles, helping stabilize long-term cash flows and margin recovery.
Read all positive factors
Fluidra (FDR) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€3.82B
Dividend Yield2.34%
Average Volume (3M)178.46K
Price to Earnings (P/E)22.2
Beta (1Y)0.80
Revenue Growth2.11%
EPS Growth16.71%
CountryES
Employees6,328
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)0.78
Shares Outstanding192,129,070
10 Day Avg. Volume147,056
30 Day Avg. Volume178,458
Financial Highlights & Ratios
PEG Ratio0.91
Price to Book (P/B)2.76
Price to Sales (P/S)1.98
P/FCF Ratio14.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€25.10Price Target Upside18.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)1.26
Revenue Forecast (FY)€2.27B
Fluidra Business Overview & Revenue Model
Company Description
Fluidra, S.A., established in 1969 and headquartered in Sant Cugat del Vallés, Spain, is a global enterprise specializing in the production and sale of equipment and accessories for swimming pools, irrigation, and water treatment and purification....
How the Company Makes Money
Fluidra makes money primarily by selling pool and wellness products through professional and trade distribution channels, monetizing both (a) new pool construction/installation demand and (b) recurring aftermarket replacement/maintenance demand. K...
Fluidra Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.22B | 2.14B | 2.08B | 2.43B | 2.22B |
| Gross Profit | 706.90M | 1.25B | 1.14B | 1.28B | 1.20B |
| EBITDA | 471.30M | 417.62M | 383.52M | 436.20M | 496.12M |
| Net Income | 176.03M | 138.07M | 113.83M | 159.93M | 252.36M |
Balance Sheet | |||||
| Total Assets | 3.41B | 3.64B | 3.51B | 3.77B | 3.51B |
| Cash, Cash Equivalents and Short-Term Investments | 120.65M | 162.21M | 111.30M | 81.33M | 98.60M |
| Total Debt | 1.36B | 1.32B | 1.33B | 1.46B | 1.17B |
| Total Liabilities | 1.81B | 1.98B | 1.93B | 2.09B | 1.88B |
| Stockholders Equity | 1.59B | 1.65B | 1.57B | 1.67B | 1.61B |
Cash Flow | |||||
| Free Cash Flow | 302.07M | 237.49M | 364.80M | 41.91M | 271.16M |
| Operating Cash Flow | 342.61M | 310.60M | 428.93M | 120.28M | 342.58M |
| Investing Cash Flow | -183.84M | -74.29M | -94.26M | -94.35M | -504.10M |
| Financing Cash Flow | -181.43M | -190.59M | -293.29M | -37.98M | 18.12M |
Fluidra Technical Analysis
Neutral
21.24
Price Trends
19.23
Positive
20.50
Negative
22.11
Negative
Market Momentum
0.16
Negative
65.74
Neutral
89.35
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:FDR, the sentiment is Neutral. The current price of 21.24 is above the 20-day moving average (MA) of 19.04, above the 50-day MA of 19.23, and below the 200-day MA of 22.11, indicating a neutral trend. The MACD of 0.16 indicates Negative momentum. The RSI at 65.74 is Neutral, neither overbought nor oversold. The STOCH value of 89.35 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ES:FDR.
Fluidra Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | €3.26B | 23.02 | -3.10% | 13.00% | 15.15% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | €3.82B | 22.17 | 10.94% | 2.34% | 2.11% | 16.71% | |
60 Neutral | €14.90B | 21.86 | 14.59% | 2.87% | 5.45% | 90.20% | |
55 Neutral | €5.92B | 41.73 | 5.36% | 4.49% | 6.93% | -64.18% | |
53 Neutral | €3.66B | 38.28 | 9.97% | 5.28% | 1.75% | -19.54% | |
42 Neutral | €317.28M | -4.69 | -20.66% | 2.27% | -6.08% | -359.61% |
* Industrials Sector Average
ES:FDR
Fluidra
20.12
-1.81
-8.27%
ES:ANA
Acciona
268.60
113.00
72.62%
ES:ENO
Elecnor
39.00
17.36
80.21%
ES:ECR
Ercros SA
3.47
0.53
18.03%
ES:FCC
Fomento de Construcciones y Contratas
12.66
0.64
5.32%
ES:SCYR
Sacyr SA
4.81
1.35
38.97%
Fluidra Corporate Events
Fluidra Sets Timetable for First Tranche of 2026 Cash Dividend
Jun 24, 2026
Fluidra will distribute a total cash dividend of €0.65 gross per share against 2025 results, paid in two instalments in July and December 2026, following approval at its Ordinary General Shareholders’ Meeting. The first tranche of S...
Fluidra Continues Share Buyback to Fund Employee Share Plan
Jun 19, 2026
Fluidra has continued to execute its share buyback programme linked to a global incentivised share purchase plan for employees, acquiring 6,869 of its own shares on 15 June 2026 on Spanish stock exchanges at an average price close to €19.44....
Fluidra names veteran finance executive Juan Graham as new CFO
May 29, 2026
Fluidra has appointed seasoned finance executive Juan Graham as its new Chief Financial Officer, following a planned succession process after long-serving CFO Xavier Tintoré chose to embark on a new professional and personal chapter. Graham, ...
Fluidra Executes May Share Buyback for Employee Incentive Plan
May 21, 2026
Fluidra has reported a new set of share repurchases under its ongoing share buyback programme linked to a global share purchase incentive plan for its employees. On 15 May 2026, the company bought 7,281 of its own shares on Spanish stock exchanges...
Fluidra Continues Employee-Focused Share Buyback Programme With May Purchases
May 21, 2026
Fluidra has reported a new tranche of share repurchases under its ongoing buyback programme linked to a global share purchase incentive plan for employees. The company bought 7,281 of its own shares on Spanish stock exchanges on 15 May 2026 at an ...
Fluidra Posts Preliminary 1Q 2026 Figures and Flags Risks Around Performance Measures
May 7, 2026
Fluidra reported its first-quarter 2026 financial results under IFRS, emphasizing that the figures are preliminary, unaudited and may be subject to change, and that some metrics are presented as alternative performance measures used internally for...
Fluidra Delivers Solid Q1 2026 and Sticks to Guidance Amid Expansion Drive
May 7, 2026
Fluidra reported a solid start to 2026, with first-quarter sales rising 5.4% at constant exchange rates to 564 million euros, as all regions delivered growth on the back of both volume and price gains. Adjusted EBITDA increased 1.8% to 124 million...
Fluidra Shareholders Approve 2025 Accounts and Two-Part Dividend Payout
May 7, 2026
Fluidra’s ordinary general shareholders’ meeting on 6 May 2026 approved the company’s and the consolidated group’s annual accounts and management report for the year ended 31 December 2025, as well as the consolidated non-f...
Fluidra refreshes board committees after shareholder meeting, balancing independent and proprietary oversight
May 7, 2026
Fluidra has refreshed the composition of its governing committees following shareholder approvals at its May 6, 2026 meeting, reappointing proprietary director José Manuel Vargas to both the Executive Committee and the Appointments and Remune...
Fluidra Schedules May 6 Release of Q1 2026 Results and Webcast
Apr 16, 2026
Fluidra announced it will publish its financial results for the first quarter of 2026 on May 6 before the market opens, followed by a live webcast presentation for analysts and institutional investors later that morning. The company will host a te...
Fluidra Reports Q1 2026 Activity Under Share Liquidity Contract
Apr 10, 2026
Fluidra has updated the market on activity under its share liquidity contract with Banco de Sabadell, originally set up with 80,000 shares and €720,000 in cash to support orderly trading in its stock. As of the end of the first quarter of 20...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.