LesliesHAM:LE30 -11.43%57 Gross Margin % is 28.88% as of Mar. 2026, which is 29% below its 10-year median of 40.46. GuruFocus rates HAM:LE30 with a GF Score™ of 57/100 and a GF Value™ of €45.45 (Possible Value Trap). The stock has 9 warning signs investors should review. Among 1,117 Retail - Cyclical companies, Leslies ranks worse than 51.75% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Leslies's Gross Profit for the
three
months ended in Mar. 2026 was €46 Mil. Leslies's Revenue for the
three
months ended in Mar. 2026 was €160 Mil. Therefore, Leslies's Gross Margin % for the quarter that ended in Mar. 2026 was 28.88%.
Warning Sign:
Leslies Inc gross margin has been in long-term decline. The average rate of decline per year is -4.3%.
The historical rank and industry rank for Leslies's Gross Margin % or its related term are showing as below:
HAM:LE30'
s Gross Margin % Range Over the Past 10 Years
Min: 35.07 Med: 40.46 Max: 44.32
Current: 35.07
During the past 8 years, the highestGross Margin % of Leslies was 44.32%. The lowest was 35.07%. And the median was 40.46%.
HAM:LE30's Gross Margin % is ranked worse than 51.75% of 1117
companies
in the Retail - Cyclical industry
Industry Median: 36.23
vs HAM:LE30: 35.07
Leslies had a gross margin of 28.88% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Leslies was -4.30% per year.
Leslies (HAM:LE30) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Leslies had a gross margin of 28.88% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Leslies Gross Margin % Related Terms
Leslies Gross Margin % Historical Data
* Premium members only.
The historical data trend for Leslies's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HAM:LE30 vs PTLE, NPT, SPWH: Gross Margin % Comparison
For the Specialty Retail subindustry, Leslies's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Leslies Gross Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Leslies's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Leslies's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Leslies (HAM:LE30) has a Gross Margin % of 28.88% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Leslies and its competitors. This is 29% below median its historical median of 40.46. Over the past decade, Leslies' Gross Margin % has ranged from 35.07 to 44.32. According to the industry distribution chart, Leslies ranks #578 out of 1117 companies in the Retail - Cyclical industry, placing it in the top 51.7%.
Is Leslies' Gross Margin % too high?
Leslies' current Gross Margin % of 28.88% is 29% below median its 10-year median of 40.46. Over the past 10 years, this metric has ranged from a low of 35.07 to a high of 44.32. The Retail - Cyclical industry median Gross Margin % is 36.23. Leslies' value of 28.88% is 20.3% below this industry median. Based on the distribution chart, Leslies ranks #578 out of 1117 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Leslies has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Leslies' Gross Margin % compare to PTLE and NPT?
According to the Retail - Cyclical industry distribution chart, Leslies ranks #578 out of 1117 companies for Gross Margin %. This places Leslies in the lower half of its industry. The industry median Gross Margin % is 36.23. Leslies' value of 28.88% is 20.3% below this benchmark. Historically, Leslies' own Gross Margin % has ranged from 35.07 to 44.32 over the past decade. While the company's 10-year median is 40.46 vs. the industry median of 36.23, Leslies has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Retail - Cyclical company?
The median Gross Margin % among Retail - Cyclical companies is 36.23, based on 1,117 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Leslies's current Gross Margin % of 28.88% is 20.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Leslies and its competitors. For the Retail - Cyclical industry, the median Gross Margin % is 36.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Leslies's current Gross Margin % is 28.88%, which is 29% below median its own 10-year median of 40.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Leslies stock overvalued right now?
Based on GuruFocus' analysis, Leslies (HAM:LE30) is currently considered Possible Value Trap. The stock's GF Value™ is €45.45, compared to a current price of €7.75 — trading 82.9% below its estimated fair value. The current Gross Margin % is 28.88%, which is 29% below median its 10-year median of 40.46 and 20.3% below the Retail - Cyclical industry median of 36.23. Leslies' overall GF Score™ is 57/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Leslies (HAM:LE30), the current Gross Margin % is 28.88% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Leslies (HAM:LE30) Overvalued in 2026?
Based on GuruFocus' analysis, Leslies stock appears to be undervalued.
The current stock price of €7.75 is trading 82.9% below its estimated GF Value™ of €45.45.
GuruFocus considers Leslies to be Possible Value Trap.
Key valuation signals for HAM:LE30:
Gross Margin %: 28.88% (29% below median its 10-year median of 40.46)
GF Value™: €45.45 vs. price of €7.75 (82.9% below fair value)
Industry Position: 20.3% below the Retail - Cyclical median (#578 of 1117)
No single metric tells the full story. See the HAM:LE30 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Leslies Inc is a direct-to-consumer pool and spa care brand offering a comprehensive assortment of products, including chemicals, equipment and parts, cleaning and maintenance equipment, and safety, recreational, and fitness-related products. The company serves residential pool, residential spa, professional pool, and commercial pool consumers and markets its products through over 1,000 company-operated locations in 39 states and e-commerce websites, operating only in the United States. It operates mainly in the pool and spa aftermarket industry and offers regularly purchased, non-discretionary maintenance items, along with installation and repair services for pool and spa equipment.
57GF Score
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