We are a leading global designer and manufacturer of a broad portfolio of pool equipment, outdoor living products and industrial flow control products. With the pool as the centerpiece of the growing outdoor living space, the pool industry has attractive market characteristics, including significant aftermarket requirements, such as the ongoing repair, replacement, remodeling and upgrading of equipment for existing pools, innovation-led growth opportunities and a favorable industry structure. We are a leader in this market, with a highly recognized brand, one of the largest installed bases of pool equipment in the world, decades-long relationships with our key channel partners and trade customers, and a history of technological innovation. Our engineered products, which include various energy-efficient and more environmentally sustainable offerings, enhance the pool owner’s outdoor living lifestyle while delivering high quality water, pleasant ambiance and ease of use. Aftermarket replacements and
upgrades to higher value Internet of Things ("IoT") and energy-efficient models are a primary growth driver for our business, as aftermarket sales have represented approximately 85% of net sales. We estimate aftermarket sales based on feedback from certain representative customers and management’s interpretation of available industry and government data, and not on our GAAP net sales results.
We operate in a global pool equipment market with an installed base that we estimate to be approximately 25 million pools globally. North America and Europe are the two largest pool markets, accounting for an estimated 67% of the total global installed base and 85% of total equipment sales according to market studies.
Our business is organized into two reportable segments: North America ("NAM") and Europe & Rest of World ("E&RW"). We determined our operating segments based on how the Chief Operating Decision Maker ("CODM") reviews the Company’s operating results in assessing performance and allocating resources. The Company’s CODM is the President and Chief Executive Officer. NAM and E&RW accounted for approximately 85% and 15% of total net sales, respectively, for both the fiscal year ended December 31, 2025 ("Fiscal Year 2025") and December 31, 2024 ("Fiscal Year 2024"). For financial information with respect to our business segments, see Item 7 . "Management’s Discussion and Analysis of Financial Condition and Results of Operations," and Note 12. "Segments and Related Information" of Notes to Consolidated Financial Statements in this Annual Report on Form 10-K. Item 7 contains information about sales and profits for each segment, and Note 12 contains information about each segment’s sales, significant segment expenses, capital expenditures, depreciation, and amortization.
Quoted from the business section of this company’s 10-K filed February 25, 2026. Read the filing