GURU.Markets stock price, segment price, and overall market index valuation
The company's share price Leslies Inc.
Leslie's is the largest pool and spa retailer in the US. Its stock price is driven by the housing market and consumer spending on home improvements. The chart reflects both new pool construction and stable demand for chemicals and maintenance.
Share prices of companies in the market segment - Retail prom
Leslie's is the largest pool and spa care retailer in the US, offering chemicals, equipment, and services. We've classified it as "Industrial Retail." The chart below shows how this seasonal consumer sector, dependent on the housing market, is faring.
Broad Market Index - GURU.Markets
Leslie's is the largest pool and spa care retailer in the US, offering chemicals, equipment, and services. It is a component of the GURU.Markets index. The chart below represents the market. See how this stock compares to the consumer discretionary sector.
Change in the price of a company, segment, and market as a whole per day
LESL - Daily change in the company's share price Leslies Inc.
For Leslie's, Inc., a pool retailer, daily volatility reflects sensitivity to weather and consumer spending. This metric is an indicator of the health of the home and leisure market, serving as a basis for analysis.
Daily change in the price of a set of shares in a market segment - Retail prom
Leslie's, Inc. is a pool retailer. This chart shows the average daily volatility of the retail sector. Comparing this to LESL's weather- and consumer spending-driven dynamics helps understand its unique cyclicality.
Daily change in the price of a broad market stock, index - GURU.Markets
Leslie's is the largest pool and spa retailer in the United States. The company's business is seasonal and dependent on consumer spending on home maintenance. Its stock price reflects these trends and is part of the overall volatility of the consumer sector.
Dynamics of market capitalization of the company, segment and the market as a whole over 12 months
Annual dynamics of the company's market capitalization Leslies Inc.
Leslie's, Inc.'s year-over-year performance tells the story of its dominant position in the pool supply market. The 12-month change in market capitalization of this largest US retailer reflects consumer spending on pool services, as well as its strategy to consolidate the market by acquiring smaller, independent stores.
Annual dynamics of market capitalization of the market segment - Retail prom
Leslie's, Inc. is the largest pool and spa retailer in the United States. Its "protective" business benefits from a large fleet of existing pools requiring constant maintenance. The chart shows how its dominant position and dependence on weather and the housing market influence its performance.
Annual dynamics of market capitalization of broad market stocks, index - GURU.Markets
Leslie's, as the largest retailer of swimming pool products, is a seasonal and cyclical company. Its sales depend on the weather, the housing market, and consumer spending. The company's stock price is a barometer of homeowners' willingness to spend on pool maintenance and improvements.
Dynamics of market capitalization of the company, segment and the market as a whole for the month
Monthly dynamics of the company's market capitalization Leslies Inc.
Leslie's is a leading retailer of swimming pool products. Its business is highly dependent on seasonality (sales peak in spring and summer) and weather. Monthly fluctuations in its value reflect these factors, as well as consumer home maintenance costs and comparable sales data.
Monthly dynamics of market capitalization of the market segment - Retail prom
Pool retail is a niche and seasonal business, dependent on the housing market and weather. The dynamics of this sector, shown in the graph, reflect these factors. In this field, a leader like Leslie's dominates the market.
Monthly dynamics of market capitalization of broad market stocks, index - GURU.Markets
Leslie's, a pool supply retailer, is a seasonal and cyclical business. Demand for its products depends on the weather and consumer spending patterns. The company's stock price reflects these factors rather than general economic trends.
Dynamics of market capitalization of the company, segment and the market as a whole for the week
Weekly dynamics of the company's market capitalization Leslies Inc.
Shares of Leslie's, the largest pool retailer in the US, react weekly to weather and the housing market. Predictions of a hot summer and sales data for homes with pools directly impact sales and cause short-term fluctuations.
Weekly dynamics of market capitalization of the market segment - Retail prom
Leslie's and the entire outdoor recreation sector are responding to the overall state of consumer spending. Mortgage rates and demand for home improvements are common drivers for everyone. The chart shows how the pool industry leader stacks up against this cyclical market.
Weekly dynamics of market capitalization of stocks of the broad market, index - GURU.Markets
Leslie's and the entire outdoor recreation sector are responding to the overall state of consumer spending. Mortgage rates and demand for home improvements are common drivers for everyone. The chart shows how the pool industry leader stacks up against this cyclical market.
Market capitalization of the company, segment and market as a whole
LESL - Market capitalization of the company Leslies Inc.
Leslie's market capitalization chart is a financial barometer of the pool care industry. It reflects the scale of the largest retailer of pool equipment and chemicals in the US. Its performance is a story that soared on the wave of pandemic home improvements and is now being tested as demand and inflation normalize.
LESL - Share of the company's market capitalization Leslies Inc. within the market segment - Retail prom
Leslie's is the largest specialty retailer of pool and spa products in the US. Its market share reflects its dominant position in this niche but significant market. The chart below shows the influence of this "pool king," whose business is highly dependent on weather and the housing market.
Market capitalization of the market segment - Retail prom
Leslie's is the largest pool and spa retailer in the US. The chart below shows the total market capitalization of the entire sector. Its dynamics reflect consumer spending on home improvement. Leslie's dominates its niche thanks to its scale, expertise, and combination of online and offline sales.
Market capitalization of all companies included in a broad market index - GURU.Markets
The retail industry visible in the graph can be highly specialized. Leslie's, Inc. is the largest pool and spa retailer in the United States. Its market capitalization is based on its dominant position in this niche, which combines product sales and maintenance services.
Book value capitalization of the company, segment and market as a whole
LESL - Book value capitalization of the company Leslies Inc.
Leslie's book value is the physical scale of the pool supply market leader. The chart reflects the combined value of its vast network of nearly a thousand stores, distribution centers, and inventory of chemicals and equipment. This is the material base that supports the entire industry.
LESL - Share of the company's book capitalization Leslies Inc. within the market segment - Retail prom
Leslie's, Inc. is the largest pool supply retailer in the United States. Its strength lies in its physical network. The company's share of the sector's assets includes more than 900 stores, warehouses, and a fleet of service vehicles. This extensive infrastructure gives it a dominant position in the market.
Market segment balance sheet capitalization - Retail prom
Leslie's, Inc. is the largest retailer of swimming pool products. Its model is capital-intensive. Its core assets are a vast inventory of chemicals and equipment, as well as a network of nearly a thousand stores. Compared to retail, its business is built on managing extensive physical infrastructure and inventory.
Book value of all companies included in the broad market index - GURU.Markets
Leslie's assets comprise a giant retail chain of nearly a thousand stores dedicated exclusively to pool care. The company's balance sheet reflects the value of this vast physical infrastructure and inventory. The chart illustrates the capital behind its absolute dominance in this retail niche.
The ratio of market capitalization to book capitalization of a company, segment, and the market as a whole
Market capitalization to book capitalization ratio - Leslies Inc.
Leslie's, Inc. is the largest pool and spa retailer in the United States. Its value lies not only in the products on its shelves but also in its vast network of stores, strong brand, and large, loyal customer base. Its market capitalization reflects its dominant position in this niche market.
Market to book capitalization ratio in a market segment - Retail prom
Leslie's is the largest pool retailer in the US. Its value lies in its vast network of stores and dominant market position. This chart shows the premium investors pay for its scale, brand, and direct access to pool owners, which constitutes a powerful competitive advantage.
Market to book capitalization ratio for the market as a whole
Leslie's is the largest pool and spa retailer in the United States. The company's business combines retail and service. The chart shows how the market values โโthis niche leader, which boasts both significant tangible assets (stores and warehouses) and a strong brand, an intangible asset.
Debts of the company, segment and market as a whole
LESL - Company debts Leslies Inc.
Leslie's, Inc. is the largest pool and spa retailer in the United States. The company's business is highly seasonal. Debt financing is an important tool for managing working capital, allowing it to purchase merchandise before the season begins and maintain a wide selection in its stores.
Market segment debts - Retail prom
Leslie's, Inc. is the largest pool and spa retailer in the United States. It is a seasonal business with relatively stable service demand. This chart shows how the company leverages its financial structure to manage inventory, expand its store network, and dominate the fragmented pool care market.
Market debt in general
Debt to book value of the company, segment and market as a whole
The company's debt to book capitalization ratio Leslies Inc.
Leslie's, Inc., a large pool supply retailer, operates in a seasonal and weather-dependent business. This chart shows its debt load. Debt can be used to manage inventory and finance chain expansion. However, a poor summer season or economic downturn could reduce sales and make debt servicing more difficult.
Market segment debt to market segment book capitalization - Retail prom
Leslie's, Inc. is the largest pool and spa care retailer in the United States. This chart compares the company's debt, required to manage its extensive store network and inventory, to the overall market capitalization of the entire retail sector. It helps assess how effectively the company operates in its seasonal and niche industry.
Debt to book value of all companies in the market
Leslie's, Inc. is a leading retailer of pool and spa products. Its seasonal nature impacts its working capital management. The chart below shows how the company uses debt to finance inventory prior to peak seasons. A comparison with the retail industry allows for an assessment of the effectiveness of its operating and financial model.
P/E of the company, segment and market as a whole
P/E - Leslies Inc.
For Leslie's, the largest pool retailer in the US, this chart is a barometer of the housing market and consumer spending. Investors' profit estimates depend on the number of pools in the country and the owners' willingness to spend on their maintenance. The trend reflects these factors, as well as weather conditions.
P/E of the market segment - Retail prom
This chart shows the average valuation for home improvement retailersโa benchmark for Leslie's. Comparing this pool market leader's valuation to the average for general retailers helps us understand the premium investors are willing to pay for its dominant position in its niche.
P/E of the market as a whole
Leslie's is the largest retailer of pool and spa care products in the United States. The company generates the majority of its revenue from the sale of essential chemicals and equipment, making its business relatively stable. This chart reflects consumer spending. It helps us understand whether Leslie's is a defensive business, as pool care is a necessity for owners, or whether economic downturns do impact sales.
Future P/E of the company, segment and market as a whole
Future (projected) P/E of the company Leslies Inc.
Leslie's is the largest retailer of pool and spa care products in the US. The company's future profits depend on weather, the number of pools in the country, and consumer spending on pool maintenance. This chart shows how analysts evaluate these factors, predicting the stability of this niche but high-margin retail business.
Future (projected) P/E of the market segment - Retail prom
Leslie's is the largest pool and spa retailer in the US, offering chemicals, equipment, and maintenance services. This chart compares its future profitability expectations with the retail sector. It helps understand how the market views its dominant position in the niche and its business model, which combines retail stores with on-site services.
Future (projected) P/E of the market as a whole
Leslie's is the largest pool and spa retailer in the US. This chart reflects overall consumer spending. Leslie's business has both discretionary (new pools) and mandatory (water chemicals) components. This makes it relatively resilient, as pool owners are required to maintain their pools.
Profit of the company, segment and market as a whole
Company profit Leslies Inc.
Leslie's is the largest pool and spa retailer in the United States. The company sells chemicals, equipment, and provides maintenance services. This chart shows financial results based on the number of pool owners and seasonal factors. Profitability is determined by the effectiveness of the retail network and online sales.
Profit of companies in the market segment - Retail prom
Leslie's is the largest retailer of pool and spa care products in the United States. The company offers a wide range of chemicals, equipment, and services through its network of stores and online. This chart reflects the financial performance of the specialty retail sector, which is benefiting from the trend toward home improvement and the steady demand for pool maintenance.
Overall market profit
Leslie's, Inc. is the largest retailer of pool and spa supplies in the United States. Pool maintenance is considered a necessity rather than a luxury for owners, ensuring stable demand for supplies. However, new pool construction and the purchase of expensive equipment are cyclical and dependent on the housing market and consumer confidence.
Future (predicted) profit of the company, segment and market as a whole
Future (projected) profit of the company Leslies Inc.
Leslie's is the largest retailer of pool care products in the United States. The company's business is seasonal, but is supported by a large pool inventory. This chart shows analyst expectations for consumer spending on home maintenance and landscaping.
Future (predicted) profit of companies in the market segment - Retail prom
Leslie's, Inc. is the largest pool and spa retailer in the United States, offering both products and services. This chart shows forecasts for the specialty retail sector. Leslie's profitability depends on the number of pools in the country, weather conditions, and its ability to provide comprehensive solutions for owners, which creates consistent demand.
Future (predicted) profit of the market as a whole
Leslie's, Inc. is the largest retailer of pool and spa products. Demand for its products is seasonal and driven by consumer spending on home improvement and leisure activities. This graph, reflecting earnings expectations, helps assess future consumer confidence and homeowners' willingness to invest in pool maintenance and upgrades.
P/S of the company, segment and market as a whole
P/S - Leslies Inc.
Leslie's is the largest pool and spa retailer in the US. Its revenue is seasonal and dependent on weather and the housing market. This chart shows how investors view its market dominance and ability to generate consistent sales through regular pool maintenance.
P/S market segment - Retail prom
Leslie's is the largest pool and spa care retailer in the United States. The company offers a wide range of chemicals, equipment, and services through its network of stores and online. This chart reflects the average valuation in specialty retail, helping to understand how the market values โโLeslie's dominance and the stability of its service-based business.
P/S of the market as a whole
Leslie's is the largest retailer of pool and spa care products in the US. The company generates the majority of its revenue from chemicals and equipment, making it a relatively non-cyclical business. This chart helps assess how the market values โโthe company's leadership and revenue stability in this unique consumer niche.
Future P/S of the company, segment and market as a whole
Future (projected) P/S of the company Leslies Inc.
Leslie's is the largest retailer of pool and spa care products in the US. This chart reflects investor expectations for future sales. Its dynamics are influenced by the weather, the housing market (the number of homes with pools), and consumer spending on home maintenance and landscaping.
Future (projected) P/S of the market segment - Retail prom
Leslie's is the largest retailer of pool and spa care products in the United States. This chart compares the company's estimated future sales with its industry. It reflects the market's assessment of its dominant position and the stable demand for its products from pool owners.
Future (projected) P/S of the market as a whole
Leslie's is the largest pool and spa retailer in the United States. This indicator of market optimism also reflects home improvement spending. Leslie's growth demonstrates how homeowners are investing in their homes and serves as a barometer of consumer spending in this specific, yet large, retail segment.
Sales of the company, segment and market as a whole
Company sales Leslies Inc.
Leslie's, Inc. is the largest pool and spa retailer in the United States. This chart shows total revenue from sales of pool chemicals, equipment, and accessories through its extensive network of stores and online platform. Sales are seasonal and weather-dependent.
Sales of companies in the market segment - Retail prom
Leslie's is the largest retailer of pool and spa care products in the US. Their direct-to-consumer business has a strong seasonal component and a high share of repeat customers. This chart illustrates the state of the niche yet stable home and leisure goods market, where Leslie's is the undisputed leader.
Overall market sales
Leslie's, Inc. is the largest pool and spa retailer in the United States. Its business depends on the housing market and consumer spending. The growth in overall economic revenue, reflected in this graph, indicates rising homeowner incomes. This allows them to spend more on pool maintenance and upgrades, which directly increases Leslie's sales.
Future sales volume of the company, segment and market as a whole
Future (projected) sales of the company Leslies Inc.
Leslie's, Inc. is the largest retailer of pool and spa care products in the United States. The company sells everything from chemicals to equipment, both online and through its extensive network of stores. This chart reflects analysts' expectations for consumer spending on residential pool maintenance and improvements.
Future (projected) sales of companies in the market segment - Retail prom
Leslie's, Inc. is the largest retailer of pool and spa care products in the United States. The company offers a wide range of chemicals, equipment, and services. This chart shows forecasts for the retail sector. It illustrates how the stable demand for pool maintenance, especially in warmer climates, supports Leslie's business model.
Future (projected) sales of the market as a whole
Leslie's, Inc., the largest pool retailer, sees this chart as an indicator of homeowner spending. The growth in disposable income projected here directly impacts people's willingness to spend on pool maintenance and upgrades. A strong economy means more pool parties and demand for Leslie's products.
Marginality of the company, segment and market as a whole
Company marginality Leslies Inc.
Leslie's is the largest pool and spa retailer in the United States. It's a seasonal business, with profitability dependent on weather conditions, efficient inventory management, and pricing. This chart shows how successfully the company converts sales of chemicals, equipment, and services into profit, dominating its niche.
Market segment marginality - Retail prom
Leslie's, Inc. is the largest pool and spa retailer in the United States. Their business model combines product sales and services. Profitability depends on the efficient management of their vast product range, logistics, and service network. The chart shows how successfully this niche leader competes with the broader home and leisure market.
Market marginality as a whole
Leslie's, Inc. is the largest pool and spa retailer in the United States. Based on its overall profitability, Leslie's operates in a niche that benefits from the home improvement and country living trends. Their profitability depends on the weather, the housing market, and customer loyalty to their services and products.
Employees in the company, segment and market as a whole
Number of employees in the company Leslies Inc.
Leslie's is the largest pool and spa retailer in the United States. This chart shows its massive team, working in hundreds of stores across the country. The size of its staff is a direct indicator of the scale of its retail network and is highly dependent on seasonal demand for its products.
Share of the company's employees Leslies Inc. within the market segment - Retail prom
Leslie's, Inc. is the largest pool and spa retailer in the United States. Its business encompasses a vast network of stores and a team of experts dedicated to helping customers care for their pools. This chart shows the company's dominant share of the overall market share in its niche, reflecting its leadership and deep penetration in the home recreation market.
Number of employees in the market segment - Retail prom
Leslie's is the largest pool and spa care retailer in the US. Its business requires a large team in stores and service centers. This chart shows the scale of its retail and service network. Staffing dynamics, including seasonal peaks, are directly related to the weather and pool owner activity.
Number of employees in the market as a whole
Leslie's, Inc. is the largest retailer of pool and spa supplies. This business is highly seasonal and dependent on the housing market and consumer spending. The growth in employment and income, visible in this graph, directly impacts homeowners' ability to spend money on the maintenance and upkeep of their pools.
Market capitalization per employee (in thousands of dollars) of the company, segment, and market as a whole
Market capitalization per employee (in thousands of dollars) of the company Leslies Inc. (LESL)
Leslie's is a swimming pool retailer. It's a classic labor-intensive business with a large number of stores and employees. The low value on this chart is typical for the industry and shows that capitalization is built through the efficient management of a large retail chain.
Market capitalization per employee (in thousands of dollars) in the market segment - Retail prom
Leslie's, Inc. is the largest pool and spa retailer in the United States. In retail, this metric reflects the effectiveness of its store network, online sales, and brand strength. This chart compares how successfully the company converts its sales into market value per employee compared to other specialty retailers.
Market capitalization per employee (in thousands of dollars) for the overall market
Leslie's is the largest pool and spa retailer in the US. The company sells directly to both consumers and professionals. This chart shows how the market values โโthis niche retail leader, where a wide selection, expert staff, and efficient logistics are essential.
Profit per employee (in thousands of dollars) for the company, segment, and market as a whole
Profit per employee (in thousands of dollars) of the company Leslies Inc. (LESL)
Leslie's is the largest retailer in the US specializing in pool care products. It's a niche "big box" retailer. In this business, this chart is a key performance indicator. It shows how much profit each store and back office employee generates, especially during the peak summer season.
Profit per employee (in thousands of dollars) in the market segment - Retail prom
Leslie's (LESL) is the largest specialty pool and spa retailer in the US. They serve both private and professional customers. In niche retail, this metric reflects operational efficiency. It shows how much revenue each employee generates across the store chain and service departments, especially during peak seasons.
Profit per employee (in thousands of dollars) for the market as a whole
Leslie's, Inc. is the largest pool and spa retailer in the United States. It's a niche retailer. The business combines chemical sales (recurring purchases) and equipment, as well as services. This chart shows how efficiently the company manages its store network and service teams. Profit per employee here is the balance between sales and labor costs.
Sales to employees of the company, segment and market as a whole
Sales per company employee Leslies Inc. (LESL)
Leslie's is the largest pool and spa retailer in the US. This chart demonstrates the effectiveness of their specialized retail model. It measures the revenue generated by each employee and reflects the loyalty of customers who regularly purchase chemicals and equipment to maintain their pools.
Sales per employee in the market segment - Retail prom
Leslie's is the largest pool and spa retailer in the US. They serve both private and professional customers. Efficiency is crucial in specialty retail. This chart shows the average revenue per employee in the sector. It demonstrates how productive Leslie's stores and service departments are compared to other retailers.
Sales per employee for the market as a whole
Leslie's, Inc. (LESL) is the largest pool and spa care retailer in the United States. They sell chemicals, equipment, and provide services. They are a niche retailer. This chart shows how efficiently their stores and service teams generate revenue per employee.
Short shares by company, segment and market as a whole
Shares shorted by company Leslies Inc. (LESL)
Leslie's is the largest pool care retailer in the US. Business grew sharply during the pandemic, as people were busy renovating their homes. This chart shows the number of investors betting on a "hangover." They expect demand for pool products to plummet, and high inventory, purchased at high prices, will lead to losses.
Shares shorted by market segment - Retail prom
Leslie's is a "supermarket" for pool owners, selling chemicals, equipment, and services. This business is highly dependent on the weather and housing market. This indicator summarizes the bets against the entire sector. Its rise suggests that investors expect the pandemic-era pool boom to be over, and the entire industry will face a decline in demand.
Shares shorted by the overall market
Leslie's is the largest retailer of swimming pool supplies. It's a seasonal and largely discretionary business. This chart illustrates the general fear of investors. When people are worried about the economy, they cut back on pool maintenance and upgradesโthey're not essential. Market pessimism quickly translates into expectations of weak sales for LESL.
RSI 14 indicator for a company, segment, and market as a whole
The company's RSI 14 indicator Leslies Inc. (LESL)
Leslie's, Inc. is the largest pool and spa retailer in the US. Their business is highly seasonal (summer) and dependent on the housing market. This chart helps assess how investors are playing out the season: strong summer expectations can overheat the stock (above 70), while weak weather or a slowdown in construction can oversell it (below 30).
RSI 14 Market Segment - Retail prom
Leslie's (LESL) is a "pool supermarket." They are the largest direct-to-consumer retailer in the US for everything from pool chemicals to equipment. The retail prom sector is highly cyclical. RSI\_14\_Seg shows the "temperature" of the entire industry. It helps us understand: is LESL's growth a niche product or is the entire sector overbought?
RSI 14 for the overall market
Leslie's (LESL), a swimming pool retailer. This chart is an indicator of "luxury" for the home. During periods of euphoria and the "wealth effect," people are willing to spend on pool maintenance. During times of panic and recession, these "non-essential" expenses are cut, and people skimp on chemicals and equipment.
Analyst consensus forecast for the company's share price, the segment, and the market as a whole
Analyst consensus stock price forecast LESL (Leslies Inc.)
Leslie's (LESL) is the largest pool care retailer in the US, selling chemicals, equipment, and services. This chart shows the average price target. It reflects analysts' opinions on consumer spending on pool maintenance, which is influenced by weather and the housing market.
The difference between the consensus estimate and the actual stock price LESL (Leslies Inc.)
Leslie's (LESL) is the largest retailer of pool supplies (chemicals and equipment) in the US. It's a defensive business, as pools require maintenance. This chart provides a look at their "pivot." It measures the gap between the stock's price and the consensus price target, reflecting whether analysts believe they can recover from the post-COVID downturn.
Analyst consensus forecast for stock prices by market segment - Retail prom
Leslie's is the king of the backyard and the largest retailer of pool care products in the US (chemicals, filters, robotic pool cleaners). This chart reflects analysts' overall expectations for the entire specialty retail sector. It shows whether experts believe homeowners will continue to spend on pool maintenance.
Analysts' consensus forecast for the overall market share price
Leslie's is the "Home Depot" for "pools" (chemicals, "maintenance"). It's a "discretionary" "service." This chart, "summarizing" the "opinions" of "experts" "on" the "entire" "market," "serves" as a "barometer." "Optimism" = "consumer" "confidence" = "high" "costs" for "maintenance" of "homes" (e.g., "pools"). "Pessimism" = "budgets" are "being cut."
AKIMA index of the company, segment and market as a whole
AKiMA Company Index Leslies Inc.
Leslie's is the Home Depot for swimming pools. They are the largest specialty retailer in the US, selling everything from pool chemicals to equipment and services. Their business is razors and blades (chemicals). This chart is a summary indicator of their niche dominance. It reflects pool ownership trends, the weather, and their ability to generate stable, recurring revenue from supplies.
AKIMA Market Segment Index - Retail prom
Leslie's, Inc. (LESL) is the largest specialty retailer of pool and spa care products in the United States. They sell chemicals, equipment, and services through direct-to-consumer (D2C) and business-to-consumer (B2C) channels. The chart shows the average index for the segment. It allows investors to assess how well Leslie's dominates its yard care niche compared to the retail average.
The AKIM Index for the overall market
Leslie's is the largest pool and spa retailer in the US. It's the market leader. This chart, which reflects the market average, provides a macro backdrop. It helps assess how LESL, which is dependent on weather and homeowner discretionary spending, compares to the overall macroeconomic situation.