# Leslies (LESL.US)

Canonical: https://gigainvestors.com/s/LESL

Analysis as of: 2026-10-13T06:31:19.127Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $0.04 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [John Rogers](https://gigainvestors.com/AI): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 100% since Dec 2021 · "Leslie's withdraws FY2026 guidance while targeting capex well below $20M" (seekingalpha.com, Aug 2026)

Story as of 2026-10-16T09:59:03.653Z; price observation 2026-10-15.

- 2025-07-29: Leslie's shares plunge as Q3 sales decline, 2025 guidance withdrawn ([investing.com](https://www.investing.com/news/stock-market-news/leslies-shares-plunge-as-q3-sales-decline-2025-guidance-withdrawn-4157245))

- 2025-08-07: Leslie's targets $20M inventory reduction and intensifies cost optimization amid Q3 sales decline ([seekingalpha.com](https://seekingalpha.com/news/4481055-leslies-targets-20m-inventory-reduction-and-intensifies-cost-optimization-amid-q3-sales?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-05-13: Leslie’s reiterates FY2026 sales $1.1B-$1.25B and adjusted EBITDA $55M-$75M as Price Drop drives traffic ([seekingalpha.com](https://seekingalpha.com/news/4592595-leslie-s-reiterates-fy2026-sales-1_1b-1_25b-and-adjusted-ebitda-55m-75m-as-price-drop-drives?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-08-13: Leslie's withdraws FY2026 guidance while targeting capex well below $20M ([seekingalpha.com](https://seekingalpha.com/news/4632049-leslies-withdraws-fy2026-guidance-while-targeting-capex-well-below-20m?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Annual sales are USD 1.2 billion.

- Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821806.json#0001193125-25-323811 (filed 2025-12-18); FY2025: revenue 1241915000; grossProfit 439647000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 35.4% to 37.8% during 2023–25.

- Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821806.json#0001193125-25-323811 (filed 2025-12-18); FY2023: grossProfit / revenue = 37.8%.

- Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821806.json#0001193125-25-323811 (filed 2025-12-18); FY2024: grossProfit / revenue = 35.8%.

- Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821806.json#0001193125-25-323811 (filed 2025-12-18); FY2025: grossProfit / revenue = 35.4%.

### Where the cash goes

Paid no dividends in 3 years.

- Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821806.json#0001193125-25-323811 (filed 2025-12-18); FY2023: growth capex 0; upkeep 38577000; cash acquisitions 15549000; owner earnings 18465000. Growth capex plus acquisitions / owner earnings = 0.8420796100731113.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); Dividend observations: [[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### What the price says

The price is less than 0.1 times annual sales; cash earnings are negative.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); Closing price 0.03500000014901161 USD; reporting-to-trading FX 1; FY2025 annual sales per share 134.00032369443247; price multiple 0.00026119340001613605. FY2025 cash earnings/share -25.157639188605955. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2020-10: $21.97 per share

- 2020-11: $20.69 per share

- 2020-12: $27.75 per share

- 2021-01: $28.60 per share

- 2021-02: $24.28 per share

- 2021-03: $24.49 per share

- 2021-04: $28.42 per share

- 2021-05: $29.16 per share

- 2021-06: $27.49 per share

- 2021-07: $24.35 per share

- 2021-08: $24.12 per share

- 2021-09: $20.54 per share

- 2021-10: $20.68 per share

- 2021-11: $20.96 per share

- 2021-12: $23.66 per share

- 2022-01: $20.83 per share

- 2022-02: $21.31 per share

- 2022-03: $19.36 per share

- 2022-04: $19.60 per share

- 2022-05: $19.42 per share

- 2022-06: $15.18 per share

- 2022-07: $15.16 per share

- 2022-08: $14.18 per share

- 2022-09: $14.71 per share

- 2022-10: $14.04 per share

- 2022-11: $14.60 per share

- 2022-12: $12.21 per share

- 2023-01: $15.49 per share

- 2023-02: $12.61 per share

- 2023-03: $11.01 per share

- 2023-04: $10.85 per share

- 2023-05: $9.48 per share

- 2023-06: $9.39 per share

- 2023-07: $6.37 per share

- 2023-08: $6.26 per share

- 2023-09: $5.66 per share

- 2023-10: $4.94 per share

- 2023-11: $4.93 per share

- 2023-12: $6.91 per share

- 2024-01: $6.71 per share

- 2024-02: $7.90 per share

- 2024-03: $6.50 per share

- 2024-04: $3.93 per share

- 2024-05: $5.72 per share

- 2024-06: $4.19 per share

- 2024-07: $2.95 per share

- 2024-08: $3.02 per share

- 2024-09: $3.16 per share

- 2024-10: $2.69 per share

- 2024-11: $2.30 per share

- 2024-12: $2.23 per share

- 2025-01: $2.02 per share

- 2025-02: $1.04 per share

- 2025-03: $0.74 per share

- 2025-04: $0.60 per share

- 2025-05: $0.75 per share

- 2025-06: $0.42 per share

- 2025-07: $0.37 per share

- 2025-08: $0.33 per share

- 2025-09: $5.50 per share

- 2025-10: $3.52 per share

- 2025-11: $2.97 per share

- 2025-12: $1.65 per share

- 2026-01: $1.37 per share

- 2026-02: $1.10 per share

- 2026-03: $1.12 per share

- 2026-04: $1.70 per share

- 2026-05: $3.82 per share

- 2026-06: $10.15 per share

- 2026-07: $0.95 per share

- 2026-08: $0.52 per share

- 2026-09: $0.16 per share

- 2026-10: $0.06 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1821806/000119312525323811/lesl-20251004.htm); period 2025-10-04, filed 2025-12-18.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [John Rogers](https://gigainvestors.com/AI): 2,416,405 LESL shares; USD 24,526,000 reported position value; 0.24% of portfolio; reduce; quarter 2026 Q2.

# LESL — Leslie's Inc.

Held by 1 investor · USD 24,526,000 total · 2026 Q2 · reported price USD 10.15 (split-adjusted).
Page: https://gigainvestors.com/s/LESL

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| John Rogers (https://gigainvestors.com/AI) | USD 24,526,000 | 0.2% | reduce -16.18% |

## Total held by quarter

- 2020 Q4: USD 124,875,000 · 1 holder · USD 555.00
- 2021 Q1: USD 150,613,500 · 1 holder · USD 489.80
- 2021 Q2: USD 169,063,500 · 1 holder · USD 549.80
- 2021 Q3: USD 126,321,000 · 1 holder · USD 410.80
- 2021 Q4: USD 140,777,000 · 1 holder · USD 473.20
- 2022 Q1: USD 58,080,000 · 1 holder · USD 387.20
- 2022 Q2: USD 0 · 0 holders
- 2022 Q3: USD 0 · 0 holders
- 2022 Q4: USD 0 · 0 holders
- 2023 Q1: USD 0 · 0 holders
- 2023 Q2: USD 0 · 0 holders
- 2023 Q3: USD 0 · 0 holders
- 2023 Q4: USD 0 · 0 holders
- 2024 Q1: USD 162,388,590 · 1 holder · USD 130.00
- 2024 Q2: USD 153,359,615 · 1 holder · USD 83.80
- 2024 Q3: USD 147,105,837 · 1 holder · USD 63.20
- 2024 Q4: USD 112,676,905 · 1 holder · USD 44.60
- 2025 Q1: USD 42,789,463 · 1 holder · USD 14.71
- 2025 Q2: USD 25,579,420 · 1 holder · USD 8.40
- 2025 Q3: USD 16,191,797 · 1 holder · USD 5.50
- 2025 Q4: USD 4,680,015 · 1 holder · USD 1.65
- 2026 Q1: USD 3,228,953 · 1 holder · USD 1.12
- 2026 Q2: USD 24,526,000 · 1 holder · USD 10.15