Whirlpool
WHR NYSE Household Appliances Financials FY2016–FY2025
Whirlpool's revenue fell 6.5% to $15.5 billion in fiscal 2025. Its operating margin was 5.4%, up from 0.9% a year earlier. Free cash flow was $81 million, down 78.9%. It paid out $300 million in dividends and buybacks, 370% of free cash flow. The diluted share count rose 2.0%.
What Whirlpool does
Whirlpool makes and sells home appliances: laundry machines, refrigerators and freezers, cooking appliances and dishwashers. It also sells small appliances such as the KitchenAid stand mixer, commercial laundry equipment, and InSinkErator food waste disposers and instant hot water dispensers. Its two biggest global brands are Whirlpool and KitchenAid, and it also sells under regional brands such as Maytag and Brastemp. It was founded in 1911, makes products in four countries and markets them in nearly every country. In 2025 it had approximately $16 billion in annual net sales and 41,000 employees.
It reports three operating segments: Major Domestic Appliances (MDA) North America, MDA Latin America, and Small Domestic Appliances (SDA) Global. It sells through retailers, buying groups and builders, and a loss of sales to any key trade customer could hurt it. It competes in an intensely competitive appliance industry.
The company has been reshaping its business. In 2024 it put its European major appliance business into a new company with Arcelik and sold its Middle East and North Africa business to Arcelik. In November 2025 it cut its stake in Whirlpool of India to approximately 40%, so India is no longer reported as a segment. It says it plans to keep looking at ways to reduce its debt in 2026.
- Legal name
- WHIRLPOOL CORP /DE/
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 11, 2026
- Accession · CIK
- 0000106640-26-000009
0000106640
Revenue and margins
Whirlpool had $15.5B of revenue in fiscal 2025, down 6.5% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew −7.6% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $81.0M in fiscal 2025, 0.5% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Whirlpool returned $300M to shareholders in fiscal 2025, 370% of free cash flow. The diluted share count rose 2.0%.
Value Whirlpool 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 −$5.9B and divides by 56.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 9.6x · peers 14.0x · sector 17.9x.
Balance sheet
Cash, debt and the ratios that show how comfortably Whirlpool can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $3.0B | $2.0B | $1.6B | $1.3B | $669M |
| Debt incl. finance leases | $5.2B | $7.6B | $7.2B | $6.6B | $6.5B |
| Net debt / EBITDA | 0.8x | — | 4.1x | 11.2x | 5.0x |
| Debt / equity | 1.1x | 3.3x | 3.1x | 2.5x | 2.4x |
| Interest coverage | 13.4x | −5.6x | 2.9x | 0.4x | 2.5x |
| Current ratio | 1.1x | 1.1x | 0.9x | 0.7x | 0.8x |
| Quick ratio | 0.8x | 0.7x | 0.6x | 0.4x | 0.4x |
| Total assets | $20.3B | $17.1B | $17.3B | $16.3B | $16.0B |
| Total liabilities | $15.3B | $14.6B | $14.8B | $13.4B | $13.3B |
| Shareholders' equity | $4.8B | $2.3B | $2.4B | $2.7B | $2.7B |
| Net debt (− = net cash) | $2.2B | $5.7B | $5.7B | $5.4B | $5.9B |
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
$0.2M
1 insider
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 3, 2026 | Greg CreedDirector | Bought | 3,305 | $60.16 | $0.2M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| 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 | 7 / 9 | 4 / 9 | 5 / 9 |
| Accruals ratio | −2.5% | −6.9% | −0.9% |
| Altman Z'' | 1.87 | −0.29 | 0.19 |
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Whirlpool WHR | $1.8B | −6.5% | 5.4% | 0.5% | 7.2% | 9.6x | 5 | |
| SharkNinja SN | $27.8B | 15.8% | 14.4% | 7.6% | 28.8% | — | 6 | Compare → |
| Tractor Supply TSCO | $17.5B | 4.3% | 9.5% | 4.8% | 28.5% | 17.4x | 6 | Compare → |
| Kohl's KSS | $2.9B | −4.3% | 4.0% | 6.5% | 7.2% | 10.7x | 7 | Compare → |
| Gap GAP | $8.1B | 1.9% | 7.3% | 5.4% | 36.1% | 6.7x | 6 | Compare → |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $20.7B | $21.3B | $21.0B | $20.4B | $19.5B | $22.0B | $19.7B | $19.5B | $16.6B | $15.5B |
| Gross profit | $3.7B | $3.6B | $3.5B | $3.5B | $3.8B | $4.4B | $3.1B | $3.2B | $2.6B | $2.4B |
| Research and development | $604M | $596M | $572M | $541M | $455M | $485M | $465M | $473M | $405M | $370M |
| Operating income | $1.4B | $1.1B | $279M | $1.5B | $1.6B | $2.3B | −$1.1B | $1.0B | $143M | $838M |
| Interest expense | $161M | $162M | $192M | $187M | $189M | $175M | $190M | $351M | $358M | $341M |
| Pretax income | $1.1B | $887M | −$21.0M | $1.5B | $1.4B | $2.3B | −$1.2B | $593M | −$188M | $516M |
| Income tax | $186M | $550M | $138M | $348M | $382M | $518M | $265M | $77.0M | $10.0M | $142M |
| Net income | $888M | $350M | −$183M | $1.2B | $1.1B | $1.8B | −$1.5B | $481M | −$323M | $318M |
| Diluted EPS | $11.50 | $4.70 | −$2.72 | $18.19 | $16.98 | $28.36 | −$27.18 | $8.72 | −$5.87 | $5.66 |
| Diluted shares | 0.08B | 0.07B | 0.07B | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B |
| Cash flow | ||||||||||
| Cash from operations | $1.2B | $1.3B | $1.2B | $1.2B | $1.5B | $2.2B | $1.4B | $915M | $835M | $470M |
| Capital expenditure | $660M | $684M | $590M | $532M | $410M | $525M | $570M | $549M | $451M | $389M |
| Free cash flow | $543M | $580M | $639M | $698M | $1.1B | $1.7B | $820M | $366M | $384M | $81.0M |
| Depreciation and amortization | $655M | $654M | $645M | $587M | $568M | $494M | $475M | $361M | $333M | $338M |
| Stock-based compensation | $39.0M | $48.0M | $51.0M | $50.0M | $67.0M | $82.0M | $58.0M | $34.0M | $91.0M | $137M |
| Acquisitions | $0.0M | $35.0M | $25.0M | $0.0M | $0.0M | $46.0M | $3.0B | $14.0M | $0.0M | $0.0M |
| Share buybacks | $525M | $750M | $1.2B | $148M | $121M | $1.0B | $903M | $0.0M | $50.0M | $0.0M |
| Dividends paid | $294M | $312M | $306M | $305M | $311M | $338M | $390M | $384M | $384M | $300M |
| Dividends and buybacks | $819M | $1.1B | $1.5B | $453M | $432M | $1.4B | $1.3B | $384M | $434M | $300M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $1.1B | $1.2B | $1.5B | $2.0B | $2.9B | $3.0B | $2.0B | $1.6B | $1.3B | $669M |
| Total debt | $4.4B | $4.8B | $5.0B | $5.0B | $5.4B | $5.2B | $7.6B | $7.2B | $6.6B | $6.5B |
| 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 | $7.3B | $7.9B | $7.9B | $7.4B | $9.1B | $9.7B | $6.4B | $6.2B | $5.2B | $4.9B |
| Current liabilities | $7.7B | $8.5B | $9.7B | $8.4B | $8.3B | $8.5B | $5.9B | $6.9B | $7.3B | $6.5B |
| Inventory | $2.6B | $3.0B | $2.5B | $2.4B | $2.3B | $2.7B | $2.1B | $2.2B | $2.0B | $2.3B |
| Property and equipment, net | $3.8B | $4.0B | $3.4B | $3.3B | $3.2B | $2.8B | $2.1B | $2.2B | $2.3B | $2.2B |
| Total assets | $19.2B | $20.0B | $18.3B | $19.0B | $20.4B | $20.3B | $17.1B | $17.3B | $16.3B | $16.0B |
| Total liabilities | $13.4B | $14.9B | $15.0B | $14.7B | $15.6B | $15.3B | $14.6B | $14.8B | $13.4B | $13.3B |
| Shareholders' equity | $4.8B | $4.2B | $2.3B | $3.2B | $3.9B | $4.8B | $2.3B | $2.4B | $2.7B | $2.7B |
| Margins | ||||||||||
| Gross margin | 17.8% | 17.0% | 16.8% | 17.2% | 19.8% | 20.1% | 15.6% | 16.3% | 15.5% | 15.4% |
| Operating margin | 6.6% | 5.4% | 1.3% | 7.6% | 8.3% | 10.7% | −5.4% | 5.2% | 0.9% | 5.4% |
| EBITDA margin | 9.8% | 8.4% | 4.4% | 10.5% | 11.2% | 12.9% | −3.0% | 7.1% | 2.9% | 7.6% |
| Net margin | 4.3% | 1.7% | −0.9% | 5.7% | 5.5% | 8.1% | −7.7% | 2.5% | −1.9% | 2.1% |
| FCF margin | 2.6% | 2.7% | 3.0% | 3.4% | 5.6% | 7.5% | 4.2% | 1.9% | 2.3% | 0.5% |
| Returns | ||||||||||
| Return on capital | 12.7% | 6.4% | 2.8% | 17.0% | 16.4% | 25.3% | −10.9% | 10.8% | 1.4% | 7.2% |
| Return on capital employed | 12.0% | 9.9% | 2.8% | 16.1% | 14.2% | 19.7% | −9.2% | 9.4% | 1.5% | 9.1% |
| Return on equity | 18.7% | 7.8% | −5.6% | 42.6% | 30.4% | 40.8% | −42.3% | 20.5% | −12.8% | 11.8% |
| Return on assets | 4.7% | 1.8% | −1.0% | 6.3% | 5.5% | 8.8% | −8.1% | 2.8% | −1.9% | 2.0% |
| Growth | ||||||||||
| Revenue growth | −0.8% | 2.6% | −1.0% | −2.9% | −4.7% | 13.0% | −10.3% | −1.4% | −14.6% | −6.5% |
| Net income growth | 13.4% | −60.6% | −152.3% | — | −8.0% | 65.9% | −185.2% | — | −167.2% | — |
| EPS growth | 17.0% | −59.1% | −157.9% | — | −6.7% | 67.0% | −195.8% | — | −167.3% | — |
| FCF growth | 1.3% | 6.8% | 10.2% | 9.2% | 56.2% | 51.5% | −50.3% | −55.4% | 4.9% | −78.9% |
| Share count change | −3.1% | −3.6% | −9.7% | −4.5% | −1.4% | −0.6% | −11.1% | −1.3% | −0.2% | 2.0% |
| Financial health | ||||||||||
| Net debt / EBITDA | 1.7x | 2.0x | 3.8x | 1.4x | 1.1x | 0.8x | — | 4.1x | 11.2x | 5.0x |
| Debt / equity | 0.9x | 1.1x | 2.2x | 1.6x | 1.4x | 1.1x | 3.3x | 3.1x | 2.5x | 2.4x |
| Interest coverage | 8.5x | 7.0x | 1.5x | 8.3x | 8.5x | 13.4x | −5.6x | 2.9x | 0.4x | 2.5x |
| Current ratio | 1.0x | 0.9x | 0.8x | 0.9x | 1.1x | 1.1x | 1.1x | 0.9x | 0.7x | 0.8x |
| Quick ratio | 0.6x | 0.6x | 0.6x | 0.6x | 0.8x | 0.8x | 0.7x | 0.6x | 0.4x | 0.4x |
| Capital allocation | ||||||||||
| Capex / revenue | 3.2% | 3.2% | 2.8% | 2.6% | 2.1% | 2.4% | 2.9% | 2.8% | 2.7% | 2.5% |
| Stock comp / revenue | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.4% | 0.3% | 0.2% | 0.6% | 0.9% |
| Payouts / FCF | 150.8% | 183.1% | 228.3% | 64.9% | 39.6% | 83.5% | 157.7% | 104.9% | 113.0% | 370.4% |
| Quality scores | ||||||||||
| Piotroski F-score | 8.0 | 5.0 | 3.0 | 8.0 | 6.0 | 9.0 | 3.0 | 7.0 | 4.0 | 5.0 |
| Altman Z'' | 2.1 | 1.8 | 0.9 | 1.9 | 2.5 | 3.1 | 1.5 | 1.9 | −0.3 | 0.2 |
| Accruals ratio | −1.7% | −4.7% | −7.4% | −0.3% | −2.2% | −1.9% | −15.6% | −2.5% | −6.9% | −0.9% |
Source: SEC EDGAR XBRL filings (CIK 0000106640). Data updated October 9, 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.