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Spectrum Brands

SPB NYSE Household Products Financials FY2016–FY2025

Spectrum Brands' revenue fell 5.2% to $2.8 billion in fiscal 2025. Its operating margin was 4.5%, down from 5.8% a year earlier. Free cash flow was $165 million, up 39.4%. It paid out $375 million in dividends and buybacks, 227% of free cash flow. The diluted share count fell 15.1%.

Last close · Oct 23, 2026

$79.86

1.4%
Value it Compare
Revenue Total sales reported in the income statement.
$2.8B
5.2% vs prior year
Operating margin Operating income as a share of revenue.
4.5%
1.3 pts
Net income Profit after all expenses, interest and tax.
$99.9M
20.0%
Free cash flow Cash from operations minus capital spending.
$165M
39.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
5.3%
0.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.8B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
25.2x
On $3.17 EPS (TTM)

What Spectrum Brands does

No business description yet.

Legal name
Spectrum Brands Holdings, Inc.
Fiscal year ends
September 30, 2025
Latest annual report
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Accession · CIK
0000109177-25-000043
0000109177

Revenue and margins

Spectrum Brands had $2.8B of revenue in fiscal 2025, down 5.2% 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

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 $165M in fiscal 2025, 5.9% 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

Spectrum Brands returned $375M to shareholders in fiscal 2025, 227% of free cash flow. The diluted share count fell 15.1%.

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

Value Spectrum Brands 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 −$458M and divides by 25.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 25.2x · peers 14.7x · sector 24.2x.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $188M$244M$1.9B$369M$124M
Debt incl. finance leases $2.5B$3.2B$1.6B$578M$581M
Net debt / EBITDA 11.0x24.1x—0.8x2.1x
Debt / equity 1.7x2.5x0.6x0.3x0.3x
Interest coverage —0.2x−1.8x2.9x4.2x
Current ratio 2.5x2.7x3.8x2.3x2.3x
Quick ratio 2.0x2.1x3.2x1.6x1.4x
Total assets $5.3B$5.8B$5.3B$3.8B$3.4B
Total liabilities $3.9B$4.5B$2.7B$1.7B$1.5B
Shareholders' equity $1.5B$1.3B$2.5B$2.1B$1.9B
Net debt (− = net cash) $2.4B$3.0B−$283M$209M$458M

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

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

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 / 97 / 96 / 9
Accruals ratio 40.1%−0.8%−2.9%
Altman Z'' 4.704.985.04

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
Spectrum Brands SPB $1.8B −5.2% 4.5% 5.9% 5.3% 25.2x 6
Energizer ENR $1.6B 2.3% — 2.1% 11.1% 6.8x 7 Compare →
Central Garden & Pet CENT $2.8B −2.2% 8.0% 9.3% 9.7% 16.8x 8 Compare →
Edgewell Personal Care EPC $1.3B −1.3% 4.3% 1.9% 3.6% — 5 Compare →
Reynolds Consumer Products REYN $4.9B 0.7% — 8.5% 9.9% 14.7x 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 $3.0B $3.7B $3.8B $3.8B $2.6B $3.0B $3.1B $2.9B $3.0B $2.8B
Gross profit $1.2B $1.3B $1.3B $820M $878M $1.0B $990M $924M $1.1B $1.0B
Research and development $27.0M $44.6M $44.6M $32.1M $29.2M $29.8M $26.7M $22.5M $28.1M $23.2M
Operating income $335M $288M $224M −$152M $8.6M $97.1M $23.2M −$206M $171M $125M
Interest expense $403M $360M $314M $208M $127M — $99.4M $116M $58.5M $30.0M
Pretax income $9.2M −$27.9M −$35.7M −$354M −$25.1M −$11.1M −$90.3M −$290M $164M $87.2M
Income tax −$58.4M −$11.8M −$463M −$52.0M $27.3M −$26.4M −$13.3M −$56.5M $64.3M −$13.0M
Net income −$199M $106M $768M $495M $97.8M $190M $71.6M $1.8B $125M $99.9M
Diluted EPS −$6.21 $3.29 $20.74 $9.76 $2.19 $4.39 $1.75 $45.65 $4.10 $3.86
Diluted shares 0.03B 0.03B 0.04B 0.05B 0.04B 0.04B 0.04B 0.04B 0.03B 0.03B
Cash flow
Cash from operations $913M $840M $343M $1.1M $290M $288M −$53.8M −$410M $163M $204M
Capital expenditure $61.0M $81.8M $75.9M $40.4M $44.1M $43.6M $64.0M $59.0M $44.0M $38.3M
Free cash flow $852M $758M $267M −$39.3M $246M $245M −$118M −$469M $119M $165M
Depreciation and amortization $120M $147M $125M $147M $115M $117M $99.3M $91.2M $102M $98.0M
Stock-based compensation $70.8M $54.2M $11.9M $44.2M $31.8M $28.9M $10.2M $17.2M $17.5M $20.5M
Acquisitions $0.0M $289M $0.0M $0.0M $16.9M $430M $272M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $269M $240M $126M $134M $34.7M $483M $326M
Dividends paid $132M $25.0M $22.4M $85.5M $75.2M $71.5M $68.6M $66.5M $50.6M $48.2M
Dividends and buybacks $132M $25.0M $22.4M $354M $315M $197M $203M $101M $533M $375M
Balance sheet
Cash and short-term investments $465M $270M $553M $627M $532M $188M $244M $1.9B $369M $124M
Total debt $5.9B $6.0B $4.7B $2.4B $2.4B $2.4B $3.1B $1.5B $496M $496M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $161M $102M $92.7M $86.4M $81.6M $85.3M
Current assets — $30.0B $4.0B $1.7B $1.7B $2.9B $3.2B $2.9B $1.6B $1.2B
Current liabilities — $27.6B $1.4B $1.1B $945M $1.2B $1.2B $765M $687M $523M
Inventory $741M $496M $584M $548M $319M $563M $781M $463M $462M $446M
Property and equipment, net $543M $504M $500M $453M $256M $260M $264M $275M $267M $255M
Total assets $33.6B $35.8B $7.8B $5.2B $5.1B $5.3B $5.8B $5.3B $3.8B $3.4B
Total liabilities $31.8B $33.9B $6.2B $3.5B $3.7B $3.9B $4.5B $2.7B $1.7B $1.5B
Shareholders' equity $638M $758M $1.6B $1.7B $1.4B $1.5B $1.3B $2.5B $2.1B $1.9B
Margins
Gross margin 41.0% 36.1% 35.0% 21.6% 33.5% 34.5% 31.6% 31.7% 37.4% 36.7%
Operating margin 11.0% 7.8% 5.9% −4.0% 0.3% 3.2% 0.7% −7.0% 5.8% 4.5%
EBITDA margin 15.0% 11.7% 9.2% −0.1% 4.7% 7.1% 3.9% −3.9% 9.2% 7.9%
Net margin −6.5% 2.9% 20.2% 13.0% 3.7% 6.3% 2.3% 61.7% 4.2% 3.6%
FCF margin 28.1% 20.5% 7.0% −1.0% 9.4% 8.2% −3.8% −16.1% 4.0% 5.9%
Returns
Return on capital 4.7% 3.0% 2.6% −2.6% 0.2% 2.1% 0.5% −5.0% 4.5% 5.3%
Return on capital employed — — 3.1% −2.9% 0.2% 2.3% 0.5% −4.5% 4.5% 4.2%
Return on equity — — 65.7% 30.0% 6.3% 13.2% 5.2% 95.3% 5.4% 4.9%
Return on assets −0.6% 0.3% 3.5% 7.6% 1.9% 3.6% 1.3% 32.7% 2.7% 2.8%
Growth
Revenue growth −36.1% 22.0% 2.8% −0.2% −31.0% 14.3% 4.5% −6.8% 1.6% −5.2%
Net income growth — — 624.8% −35.6% −80.2% 93.9% −62.2% 2,416.1% −93.1% −20.0%
EPS growth — — 530.4% −52.9% −77.6% 100.5% −60.1% 2,508.6% −91.0% −5.9%
FCF growth 276.8% −11.0% −64.7% −114.7% — −0.6% −148.1% — — 39.4%
Share count change −83.9% 0.6% 14.9% 37.0% −11.8% −3.4% −5.3% −3.4% −22.8% −15.1%
Financial health
Net debt / EBITDA 11.9x 13.3x 11.7x — 16.1x 11.0x 24.1x — 0.8x 2.1x
Debt / equity — — 2.9x 1.4x 1.8x 1.7x 2.5x 0.6x 0.3x 0.3x
Interest coverage 0.8x 0.8x 0.7x −0.7x 0.1x — 0.2x −1.8x 2.9x 4.2x
Current ratio — 1.1x 2.8x 1.5x 1.8x 2.5x 2.7x 3.8x 2.3x 2.3x
Quick ratio — 1.1x 2.4x 1.0x 1.5x 2.0x 2.1x 3.2x 1.6x 1.4x
Capital allocation
Capex / revenue 2.0% 2.2% 2.0% 1.1% 1.7% 1.5% 2.0% 2.0% 1.5% 1.4%
Stock comp / revenue 2.3% 1.5% 0.3% 1.2% 1.2% 1.0% 0.3% 0.6% 0.6% 0.7%
Payouts / FCF 15.5% 3.3% 8.4% — 127.9% 80.6% — — 449.7% 226.6%
Quality scores
Piotroski F-score — — 4.0 4.0 7.0 8.0 3.0 6.0 7.0 6.0
Altman Z'' — 0.5 2.5 1.1 1.6 2.9 2.9 4.7 5.0 5.0
Accruals ratio −3.2% −2.1% 2.0% 7.6% −3.7% −1.9% 2.3% 40.1% −0.8% −2.9%

Source: SEC EDGAR XBRL filings (CIK 0000109177). Data updated October 23, 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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