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Energizer

ENR NYSE Household Products Financials FY2016–FY2025

Energizer's revenue rose 2.3% to $3.0 billion in fiscal 2025. Its net margin was 8.1%, up from 1.3% a year earlier. Free cash flow was $63 million, down 81.0%. It paid out $177 million in dividends and buybacks, 280% of free cash flow. The diluted share count fell 1.0%.

Last close · Oct 23, 2026

$22.57

3.7%
Value it Compare
Revenue Total sales reported in the income statement.
$3.0B
2.3% vs prior year
Operating margin Operating income as a share of revenue.
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Net income Profit after all expenses, interest and tax.
$239M
527.3%
Free cash flow Cash from operations minus capital spending.
$63.2M
80.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.1%
6.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Energizer does

No business description yet.

Legal name
ENERGIZER HOLDINGS, INC.
Fiscal year ends
September 30, 2025
Latest annual report
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Accession · CIK
0001632790-25-000091
0001632790

Revenue and margins

Energizer had $3.0B of revenue in fiscal 2025, up 2.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 5.6% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $63.2M in fiscal 2025, 2.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Energizer returned $177M to shareholders in fiscal 2025, 280% of free cash flow. The diluted share count fell 1.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Energizer yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$3.3B and divides by 72.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

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Reference multiples: today 6.8x · peers 16.8x · sector 24.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Energizer can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $239M$205M$223M$217M$236M
Debt incl. finance leases $3.4B$3.6B$3.4B$3.3B$3.5B
Net debt / EBITDA 7.4x—6.8x9.3x5.8x
Debt / equity 9.7x————
Interest coverage 2.0x−0.9x2.0x1.4x2.8x
Current ratio 1.5x2.3x2.1x1.8x2.1x
Quick ratio 0.8x1.2x1.2x1.0x1.1x
Total assets $5.0B$4.6B$4.5B$4.3B$4.6B
Total liabilities $4.7B$4.4B$4.3B$4.2B$4.4B
Shareholders' equity $356M$131M$211M$136M$170M
Net debt (− = net cash) $3.2B$3.4B$3.2B$3.1B$3.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$11.8M

5 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jul 24, 2026 Omerinta Fundacion10% owner Bought 60,000 $20.98 $1.3M Form 4
Jul 23, 2026 Omerinta Fundacion10% owner Bought 60,000 $20.25 $1.2M Form 4
Jul 22, 2026 Barniz Fundacion10% owner Bought 60,000 $20.75 $1.2M Form 4
Jul 21, 2026 Barniz Fundacion10% owner Bought 60,000 $19.76 $1.2M Form 4
Jul 20, 2026 Durango Capital Ltd.10% owner Bought 60,000 $20.03 $1.2M Form 4
Jul 17, 2026 Durango Capital Ltd.10% owner Bought 40,000 $20.48 $0.8M Form 4
Jul 16, 2026 Ramirez Alfredo Jose Diez10% owner Bought 40,000 $20.86 $0.8M Form 4
Jul 15, 2026 Ramirez Alfredo Jose Diez10% owner Bought 40,000 $20.59 $0.8M Form 4
Jul 14, 2026 Durango Capital Ltd.10% owner Bought 60,000 $20.21 $1.2M Form 4
Jul 13, 2026 Durango Capital Ltd.10% owner Bought 40,000 $20.21 $0.8M Form 4
Jul 10, 2026 Brinza International Corp10% owner Bought 40,000 $20.67 $0.8M Form 4
Jul 9, 2026 Brinza International Corp10% owner Bought 20,000 $20.34 $0.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✕
Debt fell relative to assets ✕ ✓ ✕
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✕ ✓
F-score 6 / 95 / 97 / 9
Accruals ratio −5.6%−8.9%2.1%
Altman Z'' 1.641.262.02

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Energizer ENR $1.6B 2.3% — 2.1% 11.1% — 7
Spectrum Brands SPB $1.8B −5.2% 4.5% 5.9% 5.3% 25.2x 6 Compare →
Central Garden & Pet CENT $2.8B −2.2% 8.0% 9.3% 9.7% 16.8x 8 Compare →
Reynolds Consumer Products REYN $4.9B 0.7% — 8.5% 9.9% 14.7x 5 Compare →
Edgewell Personal Care EPC $1.3B −1.3% 4.3% 1.9% 3.6% — 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.6B $1.8B $1.8B $2.5B $2.7B $3.0B $3.1B $3.0B $2.9B $3.0B
Gross profit $712M $811M $831M $1.0B $1.1B $1.2B $1.1B $1.1B $1.1B $1.2B
Research and development $26.6M $22.0M $22.4M $32.8M $35.4M $34.5M $34.7M $32.9M $31.6M $32.6M
Interest expense $54.3M $53.1M $98.4M $226M $195M $162M $158M $169M $156M $154M
Pretax income $166M $273M $175M $73.1M $67.7M $154M −$306M $176M $53.8M $284M
Income tax $38.0M $71.8M $81.7M $8.4M $20.9M −$6.7M −$74.0M $35.2M $15.7M $45.1M
Net income $128M $202M $93.5M $51.1M −$93.3M $161M −$232M $141M $38.1M $239M
Diluted EPS $2.04 $3.22 $1.52 $0.58 −$1.58 $2.11 −$3.37 $1.94 $0.52 $3.32
Diluted shares 0.06B 0.06B 0.06B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B 0.07B
Cash flow
Cash from operations $194M $197M $229M $150M $376M $180M $1.0M $395M $430M $147M
Capital expenditure $28.7M $25.2M $24.2M $55.1M $65.3M $64.9M $77.8M $56.8M $97.9M $83.9M
Free cash flow $165M $172M $205M $94.4M $311M $115M −$76.8M $338M $332M $63.2M
Depreciation and amortization $34.3M $50.2M $45.1M $92.8M $112M $119M $122M $123M $121M $127M
Stock-based compensation $20.4M $24.3M $28.2M $27.1M $24.5M $10.2M $13.2M $21.8M $23.1M $25.6M
Acquisitions $344M $0.0M $38.1M $2.5B $5.1M $67.2M $1.0M $0.0M $22.4M $14.3M
Share buybacks $31.8M $59.5M $70.0M $45.0M $45.0M $96.3M $0.0M $0.0M $0.0M $89.7M
Dividends paid $62.7M $69.1M $70.0M $83.0M $85.4M $83.9M $84.9M $86.3M $87.4M $87.1M
Dividends and buybacks $94.5M $129M $140M $128M $130M $180M $84.9M $86.3M $87.4M $177M
Balance sheet
Cash and short-term investments $287M $378M $522M $259M $460M $239M $205M $223M $217M $236M
Total debt $996M $992M $988M $3.5B $4.2B $3.4B $3.6B $3.4B $3.2B $3.4B
Finance lease liabilities $0.0M $0.0M $0.0M $46.9M $45.8M $44.3M $32.3M $32.0M $49.2M $50.3M
Current assets $890M $1.0B $1.2B $2.0B $2.2B $1.4B $1.6B $1.6B $1.5B $1.7B
Current liabilities $533M $582M $751M $1.1B $1.6B $946M $698M $734M $820M $795M
Inventory $289M $317M $323M $469M $511M $728M $772M $650M $657M $781M
Property and equipment, net $202M $177M $167M $362M $352M $383M $362M $364M $380M $403M
Total assets $1.7B $1.8B $3.2B $5.4B $5.7B $5.0B $4.6B $4.5B $4.3B $4.6B
Total liabilities $1.8B $1.7B $3.2B $4.9B $5.4B $4.7B $4.4B $4.3B $4.2B $4.4B
Shareholders' equity −$30.0M $85.1M $24.5M $544M $309M $356M $131M $211M $136M $170M
Margins
Gross margin 43.6% 46.2% 46.2% 40.2% 39.4% 38.4% 36.7% 38.0% 38.3% 41.8%
EBITDA margin 15.6% 21.5% 17.7% 15.7% 13.7% 14.4% −0.8% 15.8% 11.4% 19.1%
Net margin 7.8% 11.5% 5.2% 2.1% −3.4% 5.3% −7.6% 4.8% 1.3% 8.1%
FCF margin 10.1% 9.8% 11.4% 3.8% 11.3% 3.8% −2.5% 11.4% 11.5% 2.1%
Returns
Return on capital 30.4% 34.9% 24.6% 12.2% 4.6% 8.3% −3.3% 8.0% 4.5% 11.1%
Return on capital employed 18.7% 26.8% 14.9% 8.8% 6.2% 7.8% −3.7% 9.0% 5.7% 12.0%
Return on equity — — — 18.0% −21.9% 48.4% −95.2% — — —
Return on assets 7.6% 11.3% 3.7% 1.2% −1.7% 3.0% −4.8% 3.1% 0.9% 5.4%
Growth
Revenue growth 0.2% 7.4% 2.4% 38.8% 10.0% 10.1% 1.0% −3.0% −2.5% 2.3%
Net income growth — 57.8% −53.6% −45.4% −282.6% — −243.9% — −72.9% 527.3%
EPS growth — 57.8% −52.8% −61.8% −372.4% — −259.7% — −73.2% 538.5%
FCF growth 36.1% 4.1% 18.9% −53.8% 229.6% −63.1% −166.9% — −2.0% −81.0%
Share count change 0.5% 0.2% −1.9% 9.6% 3.3% −1.2% 1.8% 3.6% 0.4% −1.0%
Financial health
Net debt / EBITDA 2.8x 1.6x 1.5x 8.4x 10.1x 7.4x — 6.8x 9.3x 5.8x
Debt / equity — — — 6.6x 13.7x 9.7x — — — —
Interest coverage 4.1x 6.2x 2.8x 1.3x 1.4x 2.0x −0.9x 2.0x 1.4x 2.8x
Current ratio 1.7x 1.8x 1.6x 1.9x 1.3x 1.5x 2.3x 2.1x 1.8x 2.1x
Quick ratio 1.1x 1.2x 1.1x 1.5x 1.0x 0.8x 1.2x 1.2x 1.0x 1.1x
Capital allocation
Capex / revenue 1.8% 1.4% 1.4% 2.2% 2.4% 2.2% 2.6% 1.9% 3.4% 2.8%
Stock comp / revenue 1.3% 1.4% 1.6% 1.1% 0.9% 0.3% 0.4% 0.7% 0.8% 0.9%
Payouts / FCF 57.2% 74.8% 68.5% 135.6% 41.9% 157.0% — 25.5% 26.4% 279.8%
Quality scores
Piotroski F-score 5.0 7.0 6.0 4.0 3.0 8.0 4.0 6.0 5.0 7.0
Altman Z'' 2.3 3.2 1.6 1.7 1.0 1.2 0.9 1.6 1.3 2.0
Accruals ratio −4.0% 0.2% −5.4% −2.3% −8.4% −0.4% −4.9% −5.6% −8.9% 2.1%

Source: SEC EDGAR XBRL filings (CIK 0001632790). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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