Energizer vs Spectrum Brands
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KIRA’s take AI analyst
I put Energizer and Spectrum Brands side by side, using each one’s latest annual report. Here is what stands out:
- Energizer is the larger business, with $3.0B of revenue in fiscal 2025 against $2.8B for Spectrum Brands.
- Energizer grew revenue faster (2.3%, against −5.2%).
- Spectrum Brands turned more of its sales into free cash flow (5.9% FCF margin, against 2.1%).
- Energizer earned a higher return on the capital invested in it (11.1%, against 5.3%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Energizer
ENR
6/9
Revenue growth5-year growthGross marginNet marginReturn on capitalPiotroski F-score
Spectrum Brands
SPB
3/9
FCF marginNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | ENR FY25 | SPB FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.5B | $1.9B |
| Revenue | $3.0B | $2.8B |
| Free cash flow | $63.2M | $165M |
| Net income | $239M | $99.9M |
| Growth | ||
| Revenue growth | 2.3% | −5.2% |
| 5-year growth | 1.5% | 1.4% |
| Share count change | −1.0% | −15.1% |
| Profitability | ||
| Gross margin | 41.8% | 36.7% |
| Operating margin | — | 4.5% |
| Net margin | 8.1% | 3.6% |
| FCF margin | 2.1% | 5.9% |
| Return on capital | 11.1% | 5.3% |
| Return on equity | — | 4.9% |
| Balance sheet | ||
| Net debt | $3.3B | $458M |
| Net debt / EBITDA | 5.8x | 2.1x |
| Dividends and buybacks | $177M | $375M |
| Valuation & quality | ||
| P/E | — | 25.3x |
| Piotroski F-score | 7 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.