Spectrum Brands Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Spectrum Brands Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	5,040	5,007	3,809	3,802	2,622	2,998	3,133	2,919	2,964	2,809
Cost of revenue	193	193	218				2,142	1,995	1,855	1,777
Gross profit	1,247	1,336	1,334	820	878	1,035	990	924	1,109	1,032
Research and development	27	44.6	44.6	32.1	29.2	29.8	26.7	22.5	28.1	23.2
Selling, general and administrative	31.9	39.3	36.3	22	52.4	46.9	996	889	953	883
General and administrative	346	355	336	297	361	389	371	332
Operating expenses	912	1,049	1,110	972	870	938	967	1,130	939	907
Operating income	335	288	224	-152	8.6	97.1	23.2	-206	171	125
Interest expense	403	360					99.4	116	58.5	30
Interest income	8.9	1.1				1.1	0.6	38.3	57.5	4.2
Other non-operating income	8.8	-5	4.1	-43.4	-16.2	7.2	-14.7	-3.8	-8.6	-11.9
Pre-tax income	9.2	-27.9	-35.7	-354	-25.1	-11.1	-90.3	-290	164	87.2
Income tax	-58.4	-11.8	-463	-52	27.3	-26.4	-13.3	-56.5	64.3	-13
Income from continuing operations	-45.8	-90.6	357	-303	-52.7	15.1	-77.2	-234	99.3	99.7
Net income to minority interests	165	167	104	1.3	0.7
Net income	-199	106	768	495	97.8	190	71.6	1,802	125	99.9
EBITDA	455	435	350	-5.1	123	214	123	-114	272	223
EPS, basic	-6.21	3.29	20.79	9.76	2.19	4.44	1.75	45.65	4.12	3.88
EPS, diluted	-6.21	3.29	20.74	9.76	2.19	4.39	1.75	45.65	4.10	3.86
Shares, basic (weighted)	32	32.2	36.9	50.7	44.7	42.7	40.9	39.5	30.3	25.7
Shares, diluted (weighted)	32	32.2	37	50.7	44.7	43.2	40.9	39.5	30.5	25.9
Dividend per share			0.42	1.68	1.68	1.68	1.68	1.68	1.68	1.88

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	465	270	553	627	532	188	244	754	369	124
Short-term investments							0	1,103	0
Receivables	483	266	317	357	300	248	247	477	635	522
Inventory	741	496	584	548	319	563	781	463	462	446
Other current assets	138	54.8	63.2	53.5	30.9	40.8	51.2	44.3	41.5	41.9
Total current assets		30,036	3,971	1,660	1,728	2,914	3,235	2,926	1,579	1,184
Property, plant and equipment	543	504	500	453	256	260	264	275	267	255
Lease right-of-use assets					58	56.5	82.5	111	102	73.5
Goodwill	2,133	1,462	1,455	626	627	867	953	855	865	867
Intangible assets	2,373	1,612	1,642	1,507	1,047	1,204	1,202	1,060	990	938
Long-term investments				231	66.9
Total assets	33,580	35,850	7,799	5,246	5,107	5,340	5,776	5,258	3,842	3,380
Accounts payable	983	373	585	457	363	389	453	397	397	284
Accrued liabilities		55.4	55.1	72.1	61.7	67.4	28.4	46.1	78.8	50.2
Deferred revenue							1.1
Short-term debt	166	161	26.9	137	13.9	12	12.3	8.6	9.4	11.7
Total current liabilities		27,645	1,429	1,140	945	1,164	1,188	765	687	523
Long-term debt	5,268	5,544	4,624	2,214	2,406	2,494	3,145	1,547	551	556
Lease liabilities					49.6	44.5	56	95.6	87	54.5
Other non-current liabilities		64.8	121	112	111	99	57.8	52.5	32.8	19.1
Total liabilities	31,763	33,903	6,209	3,517	3,692	3,861	4,507	2,740	1,701	1,470
Total debt	5,636	5,802	4,729	2,385	2,352	2,441	3,101	1,488	496	496
Paid-in capital	1,447	1,373	1,997	2,031	2,054	2,064	2,033	1,921	1,988	1,998
Retained earnings	-1,032	-926	-180	224	244	360	362	2,096	2,169	2,219
Treasury stock				-261	-607	-717	-829	-1,250	-1,813	-2,136
Other comprehensive income	221	309	-236	-274	-285	-235	-303	-249	-204	-172
Shareholders' equity	638	758	1,581	1,721	1,408	1,472	1,263	2,518	2,141	1,910
Minority interests	1,179	1,189	8.3	8	8.3	7.1	5.9	0.7	0.8	0
Total equity	1,817	1,947	1,590	1,729	1,416	1,479	1,269	2,518	2,142	1,910
Total liabilities and equity	33,580	35,850	7,799	5,246	5,107	5,340	5,776	5,258	3,842	3,380
Shares outstanding	201	201	53.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-33.9	273	872	496	98.5	190	72.7	1,802	125	100
Depreciation and amortization	120	147	125	147	115	117	99.3	91.2	102	98
Stock-based compensation	70.8	54.2	11.9	44.2	31.8	28.9	10.2	17.2	17.5	20.5
Deferred income tax	-73.6	-32.5	-557	-36	24.6	-64.4	-44.6	-183	3.7	-59.2
Change in receivables	52.3	0.6	0.7	-81.6	-58.6	65.9	-12.2	-224	-117	131
Change in inventory	20.9	-24.5	-9.2	2.2	36.2	-220	-154	328	8.5	18.1
Change in payables	-60.6	149	65.7	-68.6	99.8	116	-15	-155	55.6	-155
Cash from operations	913	840	343	1.1	290	288	-53.8	-410	163	204
Capital expenditures	-61	-81.8	-75.9	-40.4	-44.1	-43.6	-64	-59	-44	-38.3
Acquisitions		-289	0	0	-16.9	-430	-272	0	0
Purchases of investments	-5.2					0	0	-1,092	-849	0
Sales and maturities of investments	35.1
Cash from investing	-891	-1,587	1,273	2,798	108	-424	-360	3,180	1,021	-37.7
Debt issued	484	316	19.6	300	300	899	740	0	350	0
Debt repaid	-1,087	-258	-1,076	-2,649	-134	-891	-12.7	-1,647	-1,349	-10.8
Stock issued					0.3	3.4
Share buybacks			0	-269	-240	-126	-134	-34.7	-483	-326
Dividends paid	-132	-25	-22.4	-85.5	-75.2	-71.5	-68.6	-66.5	-50.6	-48.2
Cash from financing	149	583	-1,295	-2,725	-497	-210	488	-2,264	-1,578	-401
Exchange rate effect	-1.4	3.1	-7	-8.4
Net change in cash	169	-161	314	65.7	-93.4	-344	53.9	510	-383	-243
Free cash flow	852	758	267	-39.3	246	245	-118	-469	119	165
Interest paid	398	324	314	208	127
Income taxes paid	35.9	37.5	53.8	53.9	42.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 28, 2026; growth uses fiscal years. Valuation uses the share price of $84.91 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	39.6%	Gross profit / revenue.
Operating margin	4.0%	Operating income / revenue.
EBITDA margin	7.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.9%	Pre-tax income / revenue.
Net margin	2.8%	Net income / revenue.
FCF margin	10.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.6%	Cash from operations / revenue.
Effective tax rate	-2.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.2%	Net income / average total assets.
Return on invested capital (ROIC)	4.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	32.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.4%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-5.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-7.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-26.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	75.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	70.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-18.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	22.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	12.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-20.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	11.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	0.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-5.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	30.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	12.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	25.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-6.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	39.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-7.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	11.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	3.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	2.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-10.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	14.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-12.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-16.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-7.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-15.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-14.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-10.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.41x	Current assets / current liabilities.
Quick ratio	1.35x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.42x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.34x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	17.7%	Total debt / total assets.
Liabilities / assets	46.6%	Total liabilities / total assets.
Net debt	$374.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.74x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.84x	Operating income / interest expense.
Working capital	$878.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	46.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$187.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.80x	Revenue / average total assets.
Fixed asset turnover	12.1x	Revenue / average property, plant and equipment.
Inventory turnover	3.47x	Cost of revenue / average inventory.
Days inventory	105 days	365 x average inventory / cost of revenue.
Receivables turnover	4.95x	Revenue / average receivables.
Days sales outstanding	74 days	365 x average receivables / revenue.
Days payables	76 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	103 days	Days inventory + days sales outstanding - days payables.
FCF conversion	367.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	12.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.43	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$124.36	Revenue / diluted weighted shares.
FCF per share	$12.62	Free cash flow / diluted weighted shares.
Operating cash flow per share	$14.37	Cash from operations / diluted weighted shares.
Book value per share	$80.03	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.13	Tangible book value / shares outstanding.
Cash per share	$11.21	(Cash + short-term investments) / shares outstanding.
Payout ratio	55.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	15.1%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	33.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.95B	Share price x shares outstanding.
Enterprise value	$2.33B	Market cap + total debt - cash - short-term investments.
P/E	24.6x	Market cap / net income. Only when net income is positive.
P/S	0.68x	Market cap / revenue.
P/B	1.06x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	10.4x	Market cap / tangible book value, when positive.
P/FCF	6.70x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.88x	Market cap / cash from operations, when positive.
EV/Sales	0.81x	Enterprise value / revenue.
EV/EBIT	20.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	7.98x	Enterprise value / free cash flow, when both are positive.
FCF yield	14.9%	Free cash flow / market cap.
Earnings yield	4.1%	Net income / market cap (the inverse of P/E).
Dividend yield	2.2%	Dividends paid over the period / market cap.
Shareholder yield	7.2%	(Dividends paid + share buybacks) / market cap.
PEG	0.82x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Spectrum Brands Holdings, Inc.'s revenue in fiscal 2025?

Spectrum Brands Holdings, Inc. reported revenue of $2.81B for fiscal 2025, 5.2% lower than the year before.

Was Spectrum Brands Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $99.9M, a net margin of 3.6%.

How much free cash flow did Spectrum Brands Holdings, Inc. generate in fiscal 2025?

Cash from operations of $203.6M minus capital expenditures of $38.3M left free cash flow of $165.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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