CSW Industrials, Inc.
cswindustrials.comWhat Do They Do?
Sells HVAC/R and plumbing products, specialty lubricants and sealants, and building safety products to contractors, distributors and industrial operators.
10-K for FY2026, filed May 26, 2026CSW is a diversified industrial growth company with a strategic focus on providing niche, value-added products in the end markets we serve.…View ↗
Our Contractor Solutions segment manufactures efficiency and performance enhancing products predominantly for residential and commercial…View ↗
Our Specialized Reliability Solutions segment provides products for increasing the reliability, efficiency, performance and lifespan of…View ↗
Our Engineered Building Solutions segment provides primarily code-driven, life-safety products that are engineered to provide…View ↗
How Do They Make Money?
Most sales come from book-and-ship products sold by individual order and counted as sales when delivered, usually after a lead time of a week or less. Build-to-order products are sold for construction projects; goods count on delivery and installation work as performed.
10-K for FY2026, filed May 26, 2026Build-to-order products are architecturally-specified building products generally sold into the construction industry. Revenue generated…View ↗
Book-and-ship products are sold across all of our end markets. Revenue generated from sales of products under book-and-ship transactions…View ↗
(i) We identify a contract with a customer when a sales agreement indicates approval and commitment of the parties; identifies the rights…View ↗
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10-K for FY2026, filed May 26, 2026
FY2026 revenue by product or service ↗
$1.1B
-
10-K for FY2026, filed May 26, 2026
$1.1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Build-to-order
Mix
10-K for FY2026, filed May 26, 2026 |
9.8%
FY2023: 12%
|
Build-to-order, FY2026
$105.6M Sources
|
Mix |
|
Book-and-ship
Sold outright
10-K for FY2026, filed May 26, 2026 |
90%
FY2023: 88%
|
Book-and-ship, FY2026
$976.9M Sources
|
Sold outright |
Who Are Their Customers?
The primary buyers for HVAC/R and plumbing products are wholesalers and distributors; a small number of OEMs buy directly. Industrial products are sold through value-added distributors, maintenance and repair operations or catalogs, while building products reach contractors through installation teams, local distributors and sales representatives.
10-K for FY2026, filed May 26, 2026Customers – Our primary customers are wholesalers and distributors in the HVAC/R and plumbing end markets. Some of these are single…View ↗
Customers – Specialized Reliability Solutions products are primarily sold through value-added distribution partners, as well as maintenance…View ↗
Customers – Fire and smoke protection products are sold through internal sales and installation teams, as well as local building products…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 10 cents of every revenue dollar as net income in FY2026 and turned 12 cents into free cash flow.
10-K for FY2026, filed May 26, 2026
$168.5MView ↗
10-K for FY2026, filed May 26, 2026
$112MView ↗
10-K for FY2026, filed May 26, 2026
$132.4MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q1 FY2027, filed Jul 30, 2026
$49.8MView ↗
- ▲ +22%
- vs $40.9M in Q1 FY2026
10-Q for Q1 FY2027, filed Jul 30, 2026
Open tableView ↗
Growing. Revenue grew 73% in 4 years, from $626.4M in FY2022 to $1.1B in FY2026, about 15% a year.
Electrical end market
The latest description adds electrical among the end markets served, including within Contractor Solutions; the earlier description does not list it.
10-K for FY2023, filed May 25, 2023
Who Do They Compete With?
Competes with DiversiTech, DuraVent, Intermatic, Little Giant, Nu-Calgon, RGF, BrassCraft, IPS, J.R. Smith, Mainline, Oatey, Exxon-Mobil, Fuchs, Kluber, Shell, South Coast Products, McKeon, US Smoke & Fire, Won Door, and Construction Specialties
10-K for FY2026, filed May 26, 2026Competition – Our competition in the Contractor Solutions segment is varied. Competitors range from small entrepreneurial companies with a…View ↗
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