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WD-40

WDFC Nasdaq Household Products Financials FY2016–FY2025

WD-40's revenue rose 5.0% to $620 million in fiscal 2025. Its operating margin was 16.7%, up from 16.3% a year earlier. Free cash flow was $83 million, down 5.0%. It paid out $63 million in dividends and buybacks, 75% of free cash flow. The diluted share count fell 0.1%.

Last close · Oct 23, 2026

$212.71

1.2%
Value it Compare
Revenue Total sales reported in the income statement.
$620M
5.0% vs prior year
Operating margin Operating income as a share of revenue.
16.7%
0.4 pts
Net income Profit after all expenses, interest and tax.
$91.0M
30.7%
Free cash flow Cash from operations minus capital spending.
$83.4M
5.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
32.3%
6.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
32.3x
On $6.58 EPS (TTM)

What WD-40 does

No business description yet.

Legal name
WD-40 COMPANY
Fiscal year ends
August 31, 2025
Latest annual report
—
Accession · CIK
0000105132-25-000067
0000105132

Revenue and margins

WD-40 had $620M of revenue in fiscal 2025, up 5.0% 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 7.0% 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 $83.4M in fiscal 2025, 13.5% 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

WD-40 returned $62.6M to shareholders in fiscal 2025, 75% of free cash flow. The diluted share count fell 0.1%.

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

Value WD-40 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 −$28.9M and divides by 13.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 32.3x · peers 22.0x · sector 24.2x.

Balance sheet

Cash, debt and the ratios that show how comfortably WD-40 can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $86.0M$37.8M$48.1M$46.7M$58.1M
Debt incl. finance leases $116M$146M$121M$94.6M$87.0M
Net debt / EBITDA 0.3x1.1x0.7x0.5x0.3x
Debt / equity 0.6x0.8x0.6x0.4x0.3x
Interest coverage 37.1x31.9x16.0x22.5x30.2x
Current ratio 2.8x2.3x2.8x2.5x2.8x
Quick ratio 2.2x1.3x1.8x1.7x2.0x
Total assets $430M$434M$438M$449M$476M
Total liabilities $230M$246M$228M$219M$208M
Shareholders' equity $200M$189M$210M$231M$268M
Net debt (− = net cash) $29.7M$109M$72.4M$47.9M$28.9M

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

$0.6M

6 insiders

Sold, 12 months

$0.1M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 13, 2026 Patricia Q OlsemDivision President, Americas Sold 200 $234.72 $0.0M Form 4
Aug 10, 2026 Patricia Q OlsemDivision President, Americas Sold 300 $233.73 $0.1M Form 4
Feb 5, 2026 David PendarvisDirector Bought 424 $247.15 $0.1M Form 4
Oct 30, 2025 David PendarvisDirector Bought 523 $196.37 $0.1M Form 4
Oct 30, 2025 Eric EtchartDirector Bought 500 $194.02 $0.1M Form 4
Oct 28, 2025 Phenix Q. KiamilevVP, GC & Chief Compliance Ofcr Bought 55 $200.46 $0.0M Form 4
Oct 28, 2025 Sara Kathleen HyzerVP, Finance & CFO Bought 200 $200.46 $0.0M Form 4
Oct 28, 2025 Steven A BrassPresident and CEO, Director Bought 362 $200.46 $0.1M Form 4
Oct 27, 2025 Daniel T CarterDirector Bought 1,000 $199.37 $0.2M 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 8 / 98 / 98 / 9
Accruals ratio −7.4%−5.1%0.7%
Altman Z'' 8.298.409.05

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
WD-40 WDFC $2.9B 5.0% 16.7% 13.5% 32.3% 32.3x 8
Inter Parfums IPAR $3.7B 2.5% 18.2% 12.8% — 22.0x 4 Compare →
Edgewell Personal Care EPC $1.3B −1.3% 4.3% 1.9% 3.6% — 5 Compare →
Spectrum Brands SPB $1.8B −5.2% 4.5% 5.9% 5.3% 25.2x 6 Compare →
Energizer ENR $1.6B 2.3% — 2.1% 11.1% 6.8x 7 Compare →

10 years of figures

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

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $381M $381M $409M $423M $409M $488M $519M $537M $591M $620M
Gross profit $214M $214M $225M $232M $223M $264M $255M $274M $315M $341M
Research and development $7.7M $8.4M $7.0M $6.5M $6.0M $5.6M $5.1M $6.2M $8.0M $8.7M
Operating income $71.3M $75.9M $78.6M $82.4M $77.2M $88.8M $87.3M $89.7M $96.4M $104M
Interest expense $1.7M $2.6M $4.2M $2.5M $2.4M $2.4M $2.7M $5.6M $4.3M $3.4M
Pretax income $72.8M $74.6M $75.2M $80.8M $75.5M $86.5M $84.1M $85.2M $91.5M $102M
Income tax $20.2M $21.7M $10.0M $24.9M $14.8M $16.3M $16.8M $19.2M $21.9M $10.6M
Net income $52.6M $52.9M $65.2M $55.9M $60.7M $70.2M $67.3M $66.0M $69.6M $91.0M
Diluted EPS $3.64 $3.72 $4.64 $4.02 $4.40 $5.09 $4.90 $4.83 $5.11 $6.69
Diluted shares 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B
Cash flow
Cash from operations $65.3M $55.6M $64.8M $62.9M $72.7M $84.7M $2.6M $98.4M $92.0M $87.9M
Capital expenditure $4.4M $20.1M $12.4M $13.3M $19.3M $15.1M $8.3M $6.9M $4.2M $4.5M
Free cash flow $61.0M $35.4M $52.5M $49.6M $53.4M $69.7M −$5.7M $91.5M $87.8M $83.4M
Depreciation and amortization $6.5M $6.8M $7.8M $7.6M $7.7M $7.0M $8.3M $8.2M $9.5M $8.2M
Stock-based compensation $3.7M $4.1M $4.2M $4.4M $5.4M $9.6M $6.7M $6.4M $6.5M $7.3M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $6.2M $0.0M
Share buybacks $32.1M $31.1M $22.6M $29.6M $16.8M $0.0M $29.2M $10.4M $8.1M $12.3M
Dividends paid $23.7M $26.8M $29.6M $32.9M $36.0M $38.2M $42.0M $44.6M $47.2M $50.3M
Dividends and buybacks $55.8M $57.9M $52.2M $62.5M $52.9M $38.2M $71.1M $55.0M $55.3M $62.6M
Balance sheet
Cash and short-term investments $109M $117M $49.1M $27.2M $56.5M $86.0M $37.8M $48.1M $46.7M $58.1M
Total debt — $134M $62.8M $60.2M $114M $116M $146M $121M $94.6M $87.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $210M $225M $168M $148M $185M $241M $250M $249M $255M $285M
Current liabilities $58.7M $75.4M $85.9M $74.6M $60.1M $85.9M $111M $88.8M $104M $102M
Inventory $31.8M $35.3M $36.5M $40.7M $41.3M $55.8M $104M $86.5M $79.1M $79.9M
Property and equipment, net $11.5M $29.4M $36.4M $45.1M $60.8M $70.1M $66.0M $66.8M $63.0M $60.4M
Total assets $340M $370M $317M $303M $363M $430M $434M $438M $449M $476M
Total liabilities $199M $230M $162M $157M $202M $230M $246M $228M $219M $208M
Shareholders' equity $140M $139M $156M $146M $160M $200M $189M $210M $231M $268M
Margins
Gross margin 56.3% 56.2% 55.1% 54.9% 54.6% 54.0% 49.1% 51.0% 53.4% 55.1%
Operating margin 18.7% 20.0% 19.2% 19.5% 18.9% 18.2% 16.8% 16.7% 16.3% 16.7%
EBITDA margin 20.4% 21.7% 21.2% 21.3% 20.8% 19.6% 18.4% 18.2% 17.9% 18.1%
Net margin 13.8% 13.9% 16.0% 13.2% 14.9% 14.4% 13.0% 12.3% 11.8% 14.7%
FCF margin 16.0% 9.3% 12.8% 11.7% 13.1% 14.3% −1.1% 17.0% 14.9% 13.5%
Returns
Return on capital — — 41.9% 32.8% 31.3% 32.2% 26.5% 24.0% 26.1% 32.3%
Return on capital employed 24.9% 26.4% 29.9% 35.9% 29.1% 27.5% 26.2% 26.7% 27.7% 28.9%
Return on equity 35.3% 37.8% 44.2% 37.2% 39.7% 38.9% 34.6% 33.1% 31.6% 36.5%
Return on assets 15.5% 14.9% 19.0% 18.0% 18.3% 17.7% 15.6% 15.1% 15.7% 19.7%
Growth
Revenue growth 0.7% −0.0% 7.4% 3.6% −3.5% 19.5% 6.3% 3.6% 9.9% 5.0%
Net income growth 17.5% 0.6% 23.2% −14.3% 8.6% 15.7% −4.1% −2.0% 5.5% 30.7%
EPS growth 19.7% 2.2% 24.7% −13.4% 9.5% 15.7% −3.7% −1.4% 5.8% 30.9%
FCF growth 23.7% −41.9% 48.1% −5.5% 7.6% 30.6% −108.2% — −4.0% −5.1%
Share count change −1.8% −1.8% −1.1% −1.0% −0.8% 0.1% −0.3% −0.7% −0.2% −0.1%
Financial health
Net debt / EBITDA — 0.2x 0.2x 0.4x 0.7x 0.3x 1.1x 0.7x 0.5x 0.3x
Debt / equity — 1.0x 0.4x 0.4x 0.7x 0.6x 0.8x 0.6x 0.4x 0.3x
Interest coverage 41.9x 29.4x 18.6x 32.4x 31.7x 37.1x 31.9x 16.0x 22.5x 30.2x
Current ratio 3.6x 3.0x 2.0x 2.0x 3.1x 2.8x 2.3x 2.8x 2.5x 2.8x
Quick ratio 3.0x 2.5x 1.5x 1.4x 2.4x 2.2x 1.3x 1.8x 1.7x 2.0x
Capital allocation
Capex / revenue 1.1% 5.3% 3.0% 3.1% 4.7% 3.1% 1.6% 1.3% 0.7% 0.7%
Stock comp / revenue 1.0% 1.1% 1.0% 1.1% 1.3% 2.0% 1.3% 1.2% 1.1% 1.2%
Payouts / FCF 91.6% 163.5% 99.5% 126.1% 99.1% 54.9% — 60.1% 63.0% 75.0%
Quality scores
Piotroski F-score — — 5.0 6.0 7.0 4.0 3.0 8.0 8.0 8.0
Altman Z'' 7.8 7.5 8.0 8.4 8.1 7.9 7.7 8.3 8.4 9.1
Accruals ratio −3.7% −0.7% 0.1% −2.2% −3.6% −3.7% 15.0% −7.4% −5.1% 0.7%

Source: SEC EDGAR XBRL filings (CIK 0000105132). Data updated October 20, 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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