CSW Industrials Inc 2024年度报告

FORM10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedMarch 31, 2025OR For the transition period fromto.Commission file number001-37454 (Exact name of registrant as specified in its charter) (214)884-3777Registrant’s telephone number, including area code:Securities registered pursuant to Section12(b) of the Act: Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2)has been subject to such filing requirements for the past90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 ofthe Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its auditreport.☒ If securities are registered pursuant to Section 12(b) of the Exchange Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any ofthe registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ The aggregate market value of the registrant’s common stock held by non-affiliates, based on the last sale price for the common stock as reported by the NasdaqGlobal Select Market on September 30, 2024, the last business day of our most recently completed second fiscal quarter was approximately $6,071.5million.As of May19, 2025, the latest practicable date,16,807,675shares of the registrant’s common stock, par value $0.01 per share, were issued and outstanding.DOCUMENTS INCORPORATED BY REFERENCE Certain information contained in the definitive proxy statement for the registrant’s Annual Meeting of Stockholders is incorporated by reference into Part III hereof. Table of Contents TABLE OF CONTENTSPART I ITEM 1:BusinessITEM 1A:Risk FactorsITEM 1B:Unresolved Staff CommentsITEM 1C:CybersecurityITEM 2:PropertiesITEM 3:Legal ProceedingsITEM 4:Mine Safety Disclosures PART II ITEM 5:Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesITEM 6:[Reserved]ITEM 7:Management’s Discussion and Analysis of Financial Condition and Results of OperationsITEM 7A:Quantitative and Qualitative Disclosures About Market RiskITEM 8:Financial Statements and Supplementary DataITEM 9:Changes In and Disagreements With Accountants on Accounting and Financial DisclosureITEM 9A:Controls and ProceduresITEM 9B:Other InformationITEM 9C:Disclosure RegardingForeign Jurisdictions that Prevent Inspections PART III ITEM 10:Directors, Executive Officers and Corporate GovernanceITEM 11:Executive CompensationITEM 12:Security Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersITEM 13:Certain Relationships and Related Transactions, and Director IndependenceITEM 14:Principal Accounting Fees and Services ITEM 15:Exhibits, Financial Statement SchedulesSIGNATURES PART I Unless otherwise specified, or the context otherwise requires, the references in this Annual Report on Form 10-K for the fiscal yearended March 31, 2025 (“Annual Report”) to “our company,” “we,” “us,” “our” or “CSWI” refer to CSW Industrials, Inc. together with ourwholly-owned subsidiaries. ITEM1: BUSINESS General CSWI is a diversified industrial growth company with a strategic focus on providing ni