Church & Dwight vs Spectrum Brands
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KIRA’s take AI analyst
I put Church & Dwight and Spectrum Brands side by side, using each one’s latest annual report. Here is what stands out:
- Church & Dwight is the larger business, with $6.2B of revenue in fiscal 2025 against $2.8B for Spectrum Brands, about 2.2 times as much.
- Church & Dwight grew revenue faster (1.6%, against −5.2%).
- Church & Dwight kept more of each dollar of sales as operating profit (17.4% operating margin, against 4.5%).
- Church & Dwight turned more of its sales into free cash flow (17.6% FCF margin, against 5.9%).
- Church & Dwight earned a higher return on the capital invested in it (14.6%, against 5.3%).
- Investors pay more for each dollar of Church & Dwight’s earnings: a P/E of 33.8x against 25.3x for Spectrum Brands.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Church & Dwight
CHD
9/11
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
Spectrum Brands
SPB
1/11
Share count change
Side by side
Best in the row
| Latest fiscal year | CHD FY25 | SPB FY25 |
|---|---|---|
| Size | ||
| Market cap | $25.1B | $1.9B |
| Revenue | $6.2B | $2.8B |
| Free cash flow | $1.1B | $165M |
| Net income | $737M | $99.9M |
| Growth | ||
| Revenue growth | 1.6% | −5.2% |
| 5-year growth | 4.9% | 1.4% |
| Share count change | −1.1% | −15.1% |
| Profitability | ||
| Gross margin | 44.7% | 36.7% |
| Operating margin | 17.4% | 4.5% |
| Net margin | 11.9% | 3.6% |
| FCF margin | 17.6% | 5.9% |
| Return on capital | 14.6% | 5.3% |
| Return on equity | 17.6% | 4.9% |
| Balance sheet | ||
| Net debt | $1.8B | $458M |
| Net debt / EBITDA | 1.4x | 2.1x |
| Dividends and buybacks | $1.2B | $375M |
| Valuation & quality | ||
| P/E | 33.8x | 25.3x |
| Piotroski F-score | 6 | 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.