Tearsheet

Spectrum Brands (SPB)

Market Price (12/28/2025): $60.04 | Market Cap: $1.4 Bil
Sector: Consumer Staples | Industry: Household Products

Spectrum Brands (SPB)

Market Price (12/28/2025): $60.04
Market Cap: $1.4 Bil
Sector: Consumer Staples
Industry: Household Products

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 12%	Weak multi-year price returns 2Y Excs Rtn is -68%, 3Y Excs Rtn is -72%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.5%, Rev Chg QQuarterly Revenue Change % is -5.2%
1	Low stock price volatility Vol 12M is 37%	Meaningful short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.63, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%	Key risks SPB key risks include [1] execution challenges from its costly global supply chain reconfiguration to mitigate tariff impacts, Show more.
2	Megatrend and thematic drivers Megatrends include Health & Wellness Trends, E-commerce & DTC Adoption, and Circular Economy & Recycling. Themes include Organic & Natural Products, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 12%
1	Low stock price volatility Vol 12M is 37%
2	Megatrend and thematic drivers Megatrends include Health & Wellness Trends, E-commerce & DTC Adoption, and Circular Economy & Recycling. Themes include Organic & Natural Products, Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -68%, 3Y Excs Rtn is -72%
4	Meaningful short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.63, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.5%, Rev Chg QQuarterly Revenue Change % is -5.2%
6	Key risks SPB key risks include [1] execution challenges from its costly global supply chain reconfiguration to mitigate tariff impacts, Show more.

Valuation, Metrics & Events

	12/28/25	2024	2023	2022
Share Price CYE	$60.04	$81.94	$75.89	$56.60
Market Cap CYE ($ Bil)	1.4	2.3	2.6	2.3
Total Debt ($ Bil)	0.7	0.7	0.7	1.7
Total Cash ($ Bil)	0.1	0.1	0.4	1.9
Enterprise Value ($ Bil)	2.0	3.0	3.3	4.0
Valuation Ratios
P/S TTM	0.5	0.8	0.8	0.8
P/EBIT TTM	12.2	18.5	10.9	-13.8
P/E TTM	14.4	21.7	19.4	1.3
P/FCF TTM	8.7	13.1	20.4	-5.1
Sector Ratios
P/S TTM (Sector)	0.8	1.0	1.0	0.9
P/EBIT TTM (Sector)	8.6	9.8	10.9	10.9
P/E TTM (Sector)	12.7	14.2	16.0	14.5
P/FCF TTM (Sector)	11.4	14.5	12.2	12.0

	12/28/25	2024	2023
Share Price CYE	$60.04	$81.94	$75.89
Market Cap CYE ($ Bil)	1.4	2.3	2.6
Total Debt ($ Bil)	0.7	0.7	0.7
Total Cash ($ Bil)	0.1	0.1	0.4
Enterprise Value ($ Bil)	2.0	3.0	3.3
Valuation Ratios
P/S TTM	0.5	0.8	0.8
P/EBIT TTM	12.2	18.5	10.9
P/E TTM	14.4	21.7	19.4
P/FCF TTM	8.7	13.1	20.4
Sector Ratios
P/S TTM (Sector)	0.8	1.0	1.0
P/EBIT TTM (Sector)	8.6	9.8	10.9
P/E TTM (Sector)	12.7	14.2	16.0
P/FCF TTM (Sector)	11.4	14.5	12.2

	SPB	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	2.8
Rev Chg Q	-5.2%	7.3%
Rev Chg LTM	-5.2%	6.1%
Rev Chg 3Y Avg	-3.5%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	5.3%	18.8%
CFO/Rev LTM	7.2%	20.4%
Net Inc Mgn	3.6%	13.1%
VALUATION	LOW
P/S	0.5	3.3
P/CFO	7.0	15.8
P/FCF	8.7	20.7
P/E	14.4	23.7
STABILITY	FAIR
Debt/Equity	0.46	0.21
Cash/Assets	0.04	0.07

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Metric	Value	Date	Source
Organic Net Sales Decrease	11.1%	8072025	Link
Favorable Foreign Exchange Impact on Net Sales	6.8 million USD	8072025	Link
Fiscal 2025 Expected Net Sales Growth	low single-digit growth	11152024	Link

Upcoming
2/05/2026	Earnings Release	Rev: $667 Mil (E) EPS: $0.77 (E)

SPB Stock

Return (1M):

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Why The Stock Moved

Qualitative Assessment

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I cannot provide information about future stock movements.

Stock Movement Drivers

Fundamental Drivers

The 13.0% change in SPB stock from 9/27/2025 to 12/27/2025 was primarily driven by a 39.0% change in the company's Net Income Margin (%).

	9272025	12272025	Change
Stock Price ($)	53.16	60.06	12.98%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2849.20	2809.00	-1.41%
Net Income Margin (%)	2.56%	3.56%	39.00%
P/E Multiple	18.16	14.37	-20.87%
Shares Outstanding (Mil)	24.90	23.90	4.02%
Cumulative Contribution			12.80%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025

	Return	Correlation
SPB	13.0%
Market (SPY)	4.3%	8.5%
Sector (XLP)	0.3%	21.2%

Fundamental Drivers

The 15.5% change in SPB stock from 6/28/2025 to 12/27/2025 was primarily driven by a 76.3% change in the company's Net Income Margin (%).

	6282025	12272025	Change
Stock Price ($)	51.98	60.06	15.53%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2929.00	2809.00	-4.10%
Net Income Margin (%)	2.02%	3.56%	76.26%
P/E Multiple	22.96	14.37	-37.41%
Shares Outstanding (Mil)	26.10	23.90	8.43%
Cumulative Contribution			14.71%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025

	Return	Correlation
SPB	15.5%
Market (SPY)	12.6%	17.1%
Sector (XLP)	-2.2%	31.0%

Fundamental Drivers

The -26.5% change in SPB stock from 12/27/2024 to 12/27/2025 was primarily driven by a -22.1% change in the company's P/E Multiple.

	12272024	12272025	Change
Stock Price ($)	81.71	60.06	-26.49%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2963.80	2809.00	-5.22%
Net Income Margin (%)	4.21%	3.56%	-15.61%
P/E Multiple	18.45	14.37	-22.11%
Shares Outstanding (Mil)	28.20	23.90	15.25%
Cumulative Contribution			-28.20%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025

	Return	Correlation
SPB	-26.5%
Market (SPY)	17.0%	46.7%
Sector (XLP)	0.5%	38.0%

Fundamental Drivers

The 7.4% change in SPB stock from 12/28/2022 to 12/27/2025 was primarily driven by a 55.6% change in the company's Net Income Margin (%).

	12282022	12272025	Change
Stock Price ($)	55.94	60.06	7.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3132.50	2809.00	-10.33%
Net Income Margin (%)	2.29%	3.56%	55.59%
P/E Multiple	31.72	14.37	-54.70%
Shares Outstanding (Mil)	40.60	23.90	41.13%
Cumulative Contribution			-10.81%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025

	Return	Correlation
SPB	-21.6%
Market (SPY)	48.0%	42.8%
Sector (XLP)	14.0%	37.1%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
SPB Return	27%	31%	-39%	34%	8%	-27%	8%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
SPB Win Rate	50%	67%	42%	67%	50%	50%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
SPB Max Drawdown	-62%	-4%	-61%	-5%	-5%	-39%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See SPB Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	SPB	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-63.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	172.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-62.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	163.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	240 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-66.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	198.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-24.2%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	31.9%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	96 days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Spectrum Brands's stock fell -63.3% during the 2022 Inflation Shock from a high on 11/22/2021. A -63.3% loss requires a 172.5% gain to breakeven.

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About Spectrum Brands (SPB)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Spectrum Brands Holdings, Inc. operates as a branded consumer products company worldwide. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands. The Global Pet Care segment provides rawhide chewing, dog and cat clean-up and food, training, health and grooming, small animal food and care, and rawhide-free products under the 8IN1 (8-in-1), Dingo, Nature's Miracle, Wild Harvest, Littermaid, Jungle, Excel, FURminator, IAMS, Eukanuba, Healthy-Hide, DreamBone, SmartBones, ProSense, Perfect Coat, eCOTRITION, Birdola, Good Boy, Meowee!, Wildbird, and Wafcol brands. This segment also offers aquarium kits, stand-alone tanks, and aquatics equipment and consumables under the Tetra, Marineland, Whisper, Instant Ocean, GloFish, OmegaOne, and OmegaSea brands. The Home and Garden segment provides outdoor insect and weed control solutions, and animal repellents under the Spectracide, Garden Safe, Liquid Fence, and EcoLogic brands; household pest control solutions under the Hot Shot, Black Flag, Real-Kill, Ultra Kill, The Ant Trap, and Rid-A-Bug brand names; household surface cleaning, maintenance, and restoration products, including bottled liquids, mops, wipes, and markers under the Rejuvenate brand name; and personal-use pesticides and insect repellent products under the Cutter and Repel brands. The company sells its products through retailers, e-commerce and online retailers, wholesalers, and distributors. Spectrum Brands Holdings, Inc. was incorporated in 2009 and is headquartered in Middleton, Wisconsin.

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1. Newell Brands for home, garden, and pet products.

2. A focused Procter & Gamble for hardware, garden, and pet supplies.

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Global Pet Care Products: Offers a wide range of pet supplies including aquatics, dog and cat products (food, treats, toys, litter solutions), and small animal care items under brands like Tetra, Dingo, FURminator, and Nature's Miracle.
Home & Garden Products: Provides various lawn, garden, and household pest control solutions, including insecticides, repellents, herbicides, and cleaning products under brands such as Spectracide, Cutter, Hot Shot, and Rejuvenate.
Automotive & Heavy Duty Aftermarket Products: Manufactures and distributes professional maintenance and appearance products for automotive, heavy duty, and marine applications through The Penray Companies.

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Spectrum Brands (SPB) - Major Customers

Spectrum Brands Holdings, Inc. primarily sells its consumer products (Home & Garden, Global Pet Care) to other companies, specifically large retailers, which then sell to individual consumers. Therefore, its major customers are these retail companies. According to Spectrum Brands' most recent annual report (10-K filing), one customer accounted for approximately 20% of its consolidated net sales for fiscal 2023 and 2022. While this customer is not explicitly named in the filing, it is widely understood and common for mass consumer goods companies that such a significant customer is typically a major mass merchandiser. The major customers for Spectrum Brands, based on their distribution channels for Home & Garden and Global Pet Care products, include:

Walmart Inc. (WMT) - Likely the largest customer mentioned in their 10-K due to its extensive retail presence and product breadth.
The Home Depot, Inc. (HD) - A major retailer for home and garden products.
Lowe's Companies, Inc. (LOW) - Another significant retailer for home and garden products.
Amazon.com, Inc. (AMZN) - A dominant online retailer for a wide range of consumer goods, including pet care and home products.
Target Corporation (TGT) - A major general merchandise retailer.
Pet specialty retailers and distributors: Including companies like Chewy, Inc. (CHWY) and other pet retail chains.

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The following are key members of the management team at Spectrum Brands:

David M. Maura, Executive Chairman and Chief Executive Officer

David M. Maura was appointed Executive Chairman and CEO of Spectrum Brands in July 2018, having previously served as Executive Chairman and CEO of SPB Legacy. His background includes significant involvement with investment and acquisition entities. He served as a Managing Director and Executive Vice President of Investments at HRG Group (a publicly-listed acquisition company) from October 2011 until November 2016 and was a member of its board of directors. Prior to HRG Group, Mr. Maura was a Vice President and Director of Investments at Harbinger Capital Partners LLC, an investment firm, from 2006 to 2012. He also held the roles of Chairman, President, and Chief Executive Officer of Mosaic Acquisition Corp., a special purpose acquisition company (SPAC), from October 2017 to January 2020. Mosaic Acquisition Corp. completed a merger with Vivint Smart Home, Inc., resulting in Vivint becoming a publicly traded company. Mr. Maura then joined Vivint Smart Home, Inc.'s board of directors. His earlier career included roles as a Managing Director and Senior Research Analyst at First Albany Capital, Inc., focusing on distressed debt and special situations, and as a Director and Senior High Yield Research Analyst at Merrill Lynch & Co.

Faisal Qadir, Executive Vice President and Chief Financial Officer

Faisal Qadir was appointed Executive Vice President and Chief Financial Officer of Spectrum Brands on September 3, 2025. He has been with the company since 2012, serving in various senior finance leadership capacities, including Vice President of Strategic Finance and Enterprise Reporting, Vice President of Investor Relations, and CFO for the Global Pet Care and Home and Personal Care businesses. Before joining Spectrum Brands, Mr. Qadir held several finance leadership positions of increasing responsibility at The Black & Decker Corporation and Stanley Black & Decker from 2003 to 2012, encompassing areas such as FP&A, Operations Finance, and Controllership.

Ehsan Zargar, Executive Vice President, General Counsel and Corporate Secretary

Ehsan Zargar was appointed Executive Vice President, General Counsel, and Corporate Secretary of Spectrum Brands on October 1, 2018. In this role, he is responsible for the company's legal, environmental, social and governance, health and safety, insurance, and real estate functions. He also plays a key role in negotiating and implementing the company’s mergers and acquisitions, capital markets, and other strategic activities. Prior to Spectrum Brands, Mr. Zargar held several increasingly senior positions with HRG Group, a publicly-listed acquisition company, from June 2011 until July 2018. These roles included Executive Vice President and Chief Operating Officer, General Counsel, and Corporate Secretary. He also previously practiced law at major law firms, including Paul, Weiss, Rifkind, Wharton & Garrison LLP.

John Pailthorp, President, Global Pet Care

John Pailthorp was appointed President of Spectrum Brands' Global Pet Care (GPC) Division in October 2019. He initially joined Spectrum Brands in 2002, beginning his career in Brand Management for lawn & garden products within the Home & Garden division. Over the years, Mr. Pailthorp advanced through various marketing leadership roles, including Division Vice President of Home & Garden Marketing in 2010 and Senior Vice President and General Manager of GPC since December 2018.

Javier Andrade-Marin, President, Home & Garden

Javier Andrade-Marin was appointed President of Spectrum Brands' Home & Garden (H&G) Division in November 2022. Before joining Spectrum Brands, he served as General Manager, Retail Brands US, at Henkel North America from 2020 to 2022, and as Vice President Marketing for Laundry and Home Care at Henkel North America from 2018 to 2020. His earlier career includes various operational and marketing positions across Europe, Latin America, and the United States at companies such as Reckitt Benckiser, Verizon Communications, and The Walt Disney Company.

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The key risks to Spectrum Brands (SPB) are primarily concentrated in its supply chain and international operations, consumer demand and competitive pressures, and historical cash flow and debt management.

Supply Chain Disruptions, Tariffs, and International Operations: Spectrum Brands faces significant risks related to its global supply chain, particularly due to tariffs on Chinese imports. The company has undertaken costly reconfigurations, shifting manufacturing out of China to countries like Vietnam, Cambodia, Thailand, and Mexico to mitigate tariff impacts. This transition, however, introduces execution risks with new suppliers, potential quality or delivery delays, and ongoing uncertainty due to unpredictable global trade conditions and trade policies. For example, a 10% levy on Chinese imports directly impacts a significant portion of its Home and Personal Care (HPC) products, creating substantial annual cost headwinds.
Weak Consumer Demand and Intense Competitive Landscape: The business is exposed to risks from sluggish revenue growth and declining sales in key product categories, such as home appliances, personal care, and aquatics within its pet care segment. Consumers' increasing preference for lower-priced products can squeeze margins for Spectrum Brands' mid-tier offerings, intensifying competitive pressures from both established rivals and new entrants in its diverse markets, which include pet care, home and garden, and home and personal care products.
Cash Flow Issues and Financial Leverage: Historically, Spectrum Brands has encountered challenges with its cash flow dynamics, with past aggressive capital return policies proving unsustainable without asset sales or increased leverage. While more recent reports indicate an improvement in cash flow and a reduction in net debt, maintaining a healthy balance sheet and ensuring consistent free cash flow generation remains a critical financial consideration for the company.

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The accelerating shift towards direct-to-consumer (D2C) sales models and subscription services across consumer goods categories, particularly in pet care and personal grooming, threatens Spectrum Brands' traditional retail-dependent distribution strategy and direct customer relationships.

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Spectrum Brands (SPB) operates in several key consumer product categories, each with substantial addressable markets. The primary segments include Pet Care, Home & Garden, and Home and Personal Care (encompassing small household appliances and personal care products).

Pet Care

The global pet care market was valued at approximately USD 304.4 billion in 2023 and is projected to grow to about USD 427.75 billion by 2032. Other estimates place the global market at USD 380 billion in 2025, with a projection to reach USD 650 billion by 2030.
In North America, the pet care market was valued at USD 146.7 billion in 2023 and is projected to reach USD 255.3 billion by 2032. Another report indicated the North American market generated USD 68.67 billion in revenue in 2022 and is expected to reach USD 100.37 billion by 2030. The U.S. alone accounted for over USD 100 billion in pet care expenditures in 2022.

Home & Garden

The global home & garden product retail market recorded revenues of USD 1.81 trillion in 2023.
The broader market for retail home improvement and gardening products globally reached USD 1.19 trillion in 2021.
Specifically for home gardening, the global market size was approximately USD 14.90 billion in 2024, expected to reach USD 15.78 billion in 2025 and around USD 26.47 billion by 2034.
The global lawn and garden consumables market is valued at USD 24.1 billion in 2025 and is projected to reach USD 36.7 billion by 2035.
North America holds a significant share of the global home & garden product retail market, accounting for 48.8% in 2023.
The North America gardening equipment market generated USD 30.86 billion in revenue in 2022 and is expected to reach USD 49.95 billion by 2030.
The North America gardening tools market size was valued at USD 2.1 billion in 2025 and is projected to reach USD 2.8 billion by 2032.
The U.S. lawn and garden consumables market is estimated at USD 8.5 billion in 2025.

Home and Personal Care (Small Household Appliances and Personal Care Products)

The global beauty and personal care products market size was valued at USD 557.88 billion in 2024 and is expected to reach USD 818.42 billion by 2033. Other estimations place the global market at USD 529.5 billion in 2024, expected to reach USD 802.6 billion by 2033.
North America is a significant region in this market, with one source indicating it will be the second-largest market with USD 120.29 billion in 2025. In 2022, North America accounted for 20.2% of the global beauty and personal care products market.

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Spectrum Brands (symbol: SPB) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Increased Brand-Focused Investments and Innovation: The company plans to continue investing in its brands, with a focus on research and development (R&D), marketing, and advertising. These investments are intended to drive long-term profitable top-line growth by enhancing brand equity and introducing new products and innovations across its categories.
Expansion in E-commerce Channels: Spectrum Brands has shown consistent growth in e-commerce sales across all its segments. This channel is expected to remain a significant driver of revenue, with particular strength noted in its Home & Personal Care (HPC) and Global Pet Care businesses.
Strategic Acquisitions and Portfolio Expansion in Pet Care: Spectrum Brands aims to at least double the size of its pet asset organically and through acquisitions. The company is actively looking to expand into niche food/treats, health and wellness, and the growing cat segment, believing it can position its portfolio more towards power-branded, faster-turning consumables.
Operational Improvements and Cost Efficiencies: While primarily impacting profitability, ongoing operational cost reductions, cost improvement initiatives, and favorable cost variances are expected to contribute to a stronger competitive position. These efficiencies can enable more competitive pricing or free up resources for growth-driving investments.
Segment-Specific Growth (e.g., Home & Garden): Specific business segments, such as Home & Garden, have demonstrated strong sales increases driven by factors like extended seasonal demand and improved retailer inventory health. Continued favorable market conditions or strategic focus in these segments are anticipated to contribute to overall revenue growth.

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Share Repurchases

Spectrum Brands has significantly reduced its outstanding shares by approximately 40%, from about 41 million to 24.9 million shares, spending $1.3 billion on repurchases since before the sale of its Hardware and Home Improvement (HHI) business in 2023.
In fiscal year 2024, the company returned $482.7 million to shareholders through share repurchases.
As of March 2025, the company had approximately $140 million remaining on its current board authorization for share repurchases, with management expressing interest in continuing the program.

Share Issuance

The number of outstanding shares has consistently decreased over the last few years due to significant share repurchases, declining from 41.3 million in fiscal year 2021 to 24.9 million in November 2025.
In May 2024, Spectrum Brands offered $300 million in exchangeable senior notes due 2029, which are initially a form of debt but could potentially be exchanged for common stock in the future.

Outbound Investments

In 2022, Spectrum Brands completed the acquisition of the Tristar Business, an investment that subsequently faced integration challenges impacting operating performance and partner relationships.
In 2023, the company spun off its Hardware and Home Improvement (HHI) business for $4.3 billion, utilizing the substantial proceeds to deleverage its debt and fund an aggressive share repurchase program.

Capital Expenditures

Spectrum Brands' capital expenditures were $43.6 million in fiscal year 2021, $64 million in fiscal year 2022, $59 million in fiscal year 2023, and $44 million in fiscal year 2024.
For the latest twelve months ending June 29, 2025, capital expenditures totaled $38.1 million.
The company's general investment strategy for fiscal 2025 focuses on investing in brands for long-term growth, innovation to expand core and adjacent categories, and operations to improve cost, quality, and safety, including investments in e-commerce capabilities.

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General Mills

Higher Rev Chg LTM (Value for SPB: -5.2%)

COST (8.3%)

Costco Wholesale

PM (7.5%)

Philip Morris International

WMT (4.3%)

Walmart

KO (2.8%)

Coca-Cola

PG (1.2%)

Procter & Gamble

Higher Rev Chg 3Y Avg (Value for SPB: -3.5%)

PM (8.0%)

Philip Morris International

COST (6.7%)

Costco Wholesale

WMT (5.4%)

Walmart

KO (4.0%)

Coca-Cola

PG (1.8%)

Procter & Gamble

Higher Op Mgn LTM (Value for SPB: 5.3%)

PM (37.1%)

Philip Morris International

KO (31.3%)

Coca-Cola

BUD (26.1%)

Anheuser-Busch InBev SA/NV

PG (24.1%)

Procter & Gamble

PEP (13.2%)

PepsiCo

Higher CFO/Rev LTM (Value for SPB: 7.2%)

MO (43.8%)

Altria

PM (28.8%)

Philip Morris International

PG (22.3%)

Procter & Gamble

KO (16.0%)

Coca-Cola

PEP (12.7%)

PepsiCo

Higher FCF/Rev LTM (Value for SPB: 5.9%)

MO (43.1%)

Altria

PM (25.3%)

Philip Morris International

PG (17.6%)

Procter & Gamble

KO (11.7%)

Coca-Cola

PEP (7.3%)

PepsiCo

Higher Total Yield (Value for SPB: 8.6%)

MO (16.2%)

Altria

GIS (15.3%)

General Mills

TGT (12.9%)

Target

KMB (12.1%)

Kimberly-Clark

KVUE (9.1%)

Kenvue

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SPB: -3.5% | 0.5x)

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

GM (8.6% | 0.4x)

General Motors

ELV (8.4% | 0.4x)

Elevance Health

CI (13.6% | 0.3x)

Cigna

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SPB: -3.5% | 9.6x)

T (1.1% | 7.3x)

AT&T

VZ (0.5% | 5.4x)

Verizon Communications

CMCSA (0.7% | 4.9x)

Comcast

ENB (8.6% | 9.3x)

Enbridge

CVS (7.7% | 9.4x)

CVS Health

Higher Rev Chg LTM (Value for SPB: -5.2%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for SPB: -3.5%)

NVDA (91.6%)

NVIDIA

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for SPB: 5.3%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for SPB: 7.2%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for SPB: 5.9%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for SPB: 8.6%)

T (12.6%)

AT&T

MRK (10.2%)

Merck

XOM (9.2%)

Exxon Mobil

WFC (8.7%)

Wells Fargo

CVX (8.6%)

Chevron

		Best Bets In Consumer Staples Sector
	SPB	MO	PM	MNST	PG	STZ	CL	HSY	KO	FIZZ	COCO
What You Pay
P/E	14.4	11.0	29.1	43.7	20.2	20.0	22.2	24.4	23.1	16.2	44.0
P/EBIT	12.2	8.3	16.3	33.3	15.5	11.6	15.4	19.6	17.2	12.8	41.4
What You Get
Rev Chg Q	-5.2%	0.2%	9.4%	16.8%	3.0%	-15.0%	1.0%	26.0%	5.1%	-1.0%	37.2%
Rev Chg LTM	-5.2%	-0.2%	7.5%	7.6%	1.2%	-5.6%	0.1%	2.5%	2.8%	1.0%	23.1%
Rev Chg 3Y Avg	-3.5%	-0.9%	8.0%	8.6%	1.8%	0.7%	4.2%	5.2%	4.0%	1.1%	13.3%
FCF/Rev 3Y Avg	-2.1%	42.7%	24.9%	22.0%	18.0%	17.0%	15.4%	13.9%	13.9%	13.4%	13.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 8.7%, alpha of 1.4%, and sharpe of 0.5

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Spectrum Brands Earnings Notes
2	Can Spectrum Brands Stock Hold Up When Markets Turn?	Return
3	SPB Dip Buy Analysis
4	Spectrum Brands Total Shareholder Return (TSR): -40.4% in 2025 and 16.0% 3-yr compounded annual returns (above peer average)
5	Spectrum Brands (SPB) Operating Cash Flow Comparison	Financials
6	Spectrum Brands (SPB) Net Income Comparison	Financials
7	Spectrum Brands (SPB) Operating Income Comparison	Financials
8	Spectrum Brands (SPB) Revenue Comparison	Financials
9	Spectrum Brands vs. S&P500 Correlation	Correlation
10	Spectrum Brands Price Volatility	Volatility

	Title
0	ARTICLES

Trade Ideas

Select ideas related to SPB. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BF-B_11302025_Dip_Buyer_ValueBuy	11302025	BF-B	Brown-Forman	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-8.9%	-8.9%	-8.9%
CPB_11302025_Dip_Buyer_ValueBuy	11302025	CPB	Campbell's	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-7.6%	-7.6%	-9.2%
ENR_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	ENR	Energizer	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	13.1%	13.1%	-5.3%
FLO_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FLO	Flowers Foods	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	5.4%	5.4%	-1.6%
CLX_11142025_Dip_Buyer_FCFYield	11142025	CLX	Clorox	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-5.0%	-5.0%	-6.0%
SPB_3312019_Dip_Buyer_ValueBuy	03312019	SPB	Spectrum Brands	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-2.6%	-32.4%	-54.2%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Spectrum Brands

Peers to compare with:

Financials

	SPB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Spectrum.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	60.06	23.26	24.49	305.09	78.16	273.40	69.11
Mkt Cap	1.4	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	2,809	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	149	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	165	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	-62	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	204	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	-14	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	SPB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Spectrum.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	-5.2%	3.2%	13.8%	4.5%	8.9%	6.0%	5.2%
Rev Chg 3Y Avg	-3.5%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.2%
Rev Chg Q	-5.2%	4.2%	14.4%	9.1%	7.5%	9.6%	8.3%
QoQ Delta Rev Chg LTM	-1.4%	1.1%	3.7%	2.1%	1.8%	2.1%	2.0%
Op Mgn LTM	5.3%	6.6%	4.8%	17.7%	22.5%	31.9%	12.1%
Op Mgn 3Y Avg	3.9%	7.4%	7.2%	16.4%	24.2%	30.8%	11.9%
QoQ Delta Op Mgn LTM	0.5%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	7.2%	6.7%	8.5%	20.6%	23.8%	26.6%	14.6%
CFO/Rev 3Y Avg	-0.4%	6.8%	12.7%	21.4%	26.1%	28.4%	17.1%
FCF/Rev LTM	5.9%	5.1%	1.8%	18.1%	22.1%	23.5%	12.0%
FCF/Rev 3Y Avg	-2.1%	5.5%	4.6%	18.6%	24.6%	25.6%	12.1%

Valuation

	SPB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Spectrum.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	1.4	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	0.5	0.4	1.0	4.4	5.4	10.0	2.7
P/EBIT	12.2	6.8	19.9	25.1	22.5	31.3	21.2
P/E	14.4	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	7.1	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	8.6%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	1.6%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	0.3%	10.6%	5.5%	6.4%	6.0%	3.1%	5.7%
D/E	0.5	0.5	0.7	0.2	0.1	0.0	0.3
Net D/E	0.4	0.3	0.6	0.2	0.0	0.0	0.3

Returns

	SPB	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Spectrum.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	0.7%	-1.8%	14.4%	0.6%	2.7%	-1.5%	0.7%
3M Rtn	13.0%	-11.9%	2.7%	7.9%	17.0%	7.1%	7.5%
6M Rtn	15.5%	-4.0%	34.5%	6.6%	15.2%	36.3%	15.4%
12M Rtn	-26.5%	-27.0%	16.2%	40.5%	34.5%	7.5%	11.8%
3Y Rtn	7.4%	-1.9%	71.1%	143.1%	81.3%	120.2%	76.2%
1M Excs Rtn	-0.4%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.3%
3M Excs Rtn	8.7%	-16.2%	-1.7%	3.6%	12.7%	2.8%	3.2%
6M Excs Rtn	3.3%	-16.3%	22.3%	-5.7%	3.0%	24.0%	3.1%
12M Excs Rtn	-42.9%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	-71.8%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for More

					Post-Approval Fwd Returns
FDA App #	Brand Name	Generic Name	Dosage Form	FDA Approval	3M Rtn	6M Rtn	1Y Rtn	2Y Rtn	Total Rtn
BLA761148	ROLVEDON	eflapegrastim-xnst	injectable	9092022	-4.0%	-2.3%	36.5%	57.0%	6.1%

	Post-Approval Fwd Returns
BLA761148	ROLVEDON	eflapegrastim-xnst	injectable	9092022	-4.0%	-2.3%	36.5%	57.0%	6.1%

Financials

Annual
Quarterly

$ Mil \| FY: 9/30	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	9/30/2025	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020
Filing Date	11/18/2025	11/18/2025	11/15/2024	11/21/2023	11/22/2022	11/23/2021	11/18/2020
Key Financials
Total Revenue	2,809	2,809	2,964	2,919	3,132	2,998	2,622
EBITDA	215	215	324	-83	108	222	183
Operating Income	149	149	156	36	-5	97	60
Net Income	100	100	125	1,802	72	190	98
EPS	3.98	3.88	4.12	45.65	1.75	4.44	2.19
Growth Rates
Total Revenue Growth	-5.2%	-5.2%	1.5%	-6.8%	4.5%	14.3%	7.2%
EBITDA Growth	-33.6%	-33.6%	490.7%	-176.5%	-51.3%	21.4%	477.7%
Operating Income Growth	-1.4%	-4.2%	339.2%	769.8%	-105.5%	62.9%	-24.0%
Net Income Growth	-20.0%	-20.0%	-93.1%	2416.1%	-62.2%	93.9%	-80.2%
Margins
EBITDA Margin	7.7%	7.7%	10.9%	-2.8%	3.5%	7.4%	7.0%
Operating Income Margin	5.3%	5.3%	5.3%	1.2%	-0.2%	3.2%	2.3%
Net Income Margin	3.6%	3.6%	4.2%	61.7%	2.3%	6.3%	3.7%
Cash & Debt
Total Cash	124	124	369	1,857	244	188	532
Total Debt	654	654	679	1,651	3,213	2,551	2,469
Net Debt / (Cash)	531	531	310	-206	2,969	2,363	1,938
Cash Flows
Net Cash from Operations	204	204	163	-410	-54	288	290
Free Cash from Operations	165	165	119	-469	-118	245	246
Returns to Shareholders
Dividends	48	48	51	66	69	72	75
Share Repurchases	326	326	483	535	134	126	365

$ Mil \| FY: 9/30	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	9/30/2025	6/29/2025	3/30/2025	12/29/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	7/2/2023	4/2/2023	1/1/2023
Filing Date	11/18/2025	8/7/2025	5/8/2025	2/6/2025	11/15/2024	8/8/2024	5/9/2024	2/8/2024	11/21/2023	8/11/2023	5/12/2023	2/10/2023
Key Financials Quarterly
Total Revenue	734	700	676	700	774	779	718	692	741	736	729	713
Ebitda	49	56	43	67	49	82	118	75	74	-105	-56	4
Operating Income	12	46	41	50	-0	64	58	30	27	40	-10	-20
Net Income	56	20	1	24	29	6	61	29	17	1,859	-54	-21
EPS	2.31	0.80	0.03	0.84	1.02	0.21	2.03	0.85	0.47	46.07	-1.31	-0.51
Key Financials TTM
Total Revenue TTM	2,809	2,849	2,929	2,972	2,964	2,931	2,887	2,898	2,919	2,928	3,010	3,089
Ebitda TTM	215	215	242	316	324	349	161	-12	-83	-125	37	111
Operating Income TTM	149	137	155	171	151	179	155	87	37	23	-4	-2
Net Income TTM	100	73	59	119	125	113	1,966	1,851	1,801	1,799	-27	42
Growth Rates Quarterly
Total Revenue Growth	-5.2%	-10.2%	-6.0%	1.2%	4.5%	6.0%	-1.5%	-3.0%	-1.2%	-10.1%	-9.7%	-5.8%
EBITDA Growth	0.2%	-32.7%	-63.2%	-10.1%	-34.0%	178.3%	311.1%	1812.8%	128.2%	-286.9%	-403.3%	254.5%
Operating Income Growth	2520.0%	-28.2%	-28.6%	66.1%	-101.9%	59.1%	680.0%	249.0%	107.7%	192.7%	-23.5%	15.1%
Net Income Growth	94.4%	226.2%	-98.5%	-19.2%	70.2%	-99.7%	213.8%	239.2%	13.5%	5585.6%	-437.7%	-354.9%
Margins Quarterly
EBITDA Margin	6.7%	7.9%	6.4%	9.6%	6.3%	10.6%	16.4%	10.8%	10.0%	-14.3%	-7.7%	0.5%
Operating Income Margin	1.6%	6.5%	6.1%	7.1%	-0.1%	8.2%	8.1%	4.3%	3.6%	5.5%	-1.4%	-2.8%
Net Income Margin	7.6%	2.8%	0.1%	3.4%	3.7%	0.8%	8.5%	4.2%	2.3%	252.8%	-7.4%	-2.9%
Cash & Debt
Total Cash	124	122	96	180	369	307	1,246	1,395	1,857	2,930	328	228
Total Debt	654	760	716	638	679	653	1,485	1,488	1,651	2,177	3,294	3,333
Net Debt / (Cash)	531	638	620	458	310	346	239	92	-206	-753	2,966	3,105
Cash Flows Quarterly
FCF from Operations	171	82	23	-72	81	83	4	-4	-514	-73	242	-64
Cash Flows TTM
FCF from Operations TTM	204	113	114	94	163	-432	-588	-350	-410	189	331	153
Returns to Shareholders Quarterly
Dividends	11	12	12	13	12	12	13	14	15	17	17	17
Share Repurchases	39	54	160	73	-0	142	98	243	35	500	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	9.1%	26.8%	4.2%	29.5%	-0.5%	34.0%	64.2%	76.5%	-	-	-0.9%	-1.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	28.1%	14.8%	13.7%	23.4%	29.6%	41.0%	64.9%	80.1%	-	-	-0.1%	-0.0%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Home and Personal Care (HPC)	1,234	1,243	1,370	1,260	1,108
Global Pet Care (GPC)	1,152	1,139	1,175	1,130	963
Home and Garden (H&G)	579	536	587	608	552
Total	2,964	2,919	3,132	2,998	2,622

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Non-current assets	2,264	2,332
Other current assets	1,116	2,463
Home and Personal Care (HPC)	217	200	1,231	879	825
Global Pet Care (GPC)	159	172	1,462	1,457	1,200
Home and Garden (H&G)	86	91	846	853	546
Corporate and shared operations			420	341	742
Current assets of business held for sale			1,817	1,810
Total	3,842	5,258	5,776	5,340	3,314

Price Behavior

Price Behavior

Market Price	$60.06
Market Cap ($ Bil)	1.5
First Trading Date	04/06/1983
Distance from 52W High	-28.1%
	50 Days	200 Days
DMA Price	$56.69	$57.11
DMA Trend	down	up
Distance from DMA	5.9%	5.2%
	3M	1YR
Volatility	36.0%	36.9%
Downside Capture	-4.81	97.02
Upside Capture	54.79	51.39
Correlation (SPY)	9.4%	46.6%

SPB Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	-0.22	0.17	0.27	0.66	0.88	0.90
Up Beta	0.89	1.06	1.72	1.49	0.99	0.95
Down Beta	-5.11	-0.38	-0.34	0.22	0.89	1.08
Up Capture	95%	65%	25%	47%	36%	44%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	9	23	31	59	118	372
Down Capture	-19%	-21%	6%	68%	102%	95%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	18	31	66	130	376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of SPB With Other Asset Classes (Last 1Y)
	SPB	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-27.5%	0.5%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	36.6%	13.9%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	-0.81	-0.20	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		38.1%	46.6%	-5.1%	8.6%	49.3%	18.3%

ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of SPB With Other Asset Classes (Last 5Y)
	SPB	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-1.7%	5.7%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	36.1%	13.0%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	0.04	0.23	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		37.3%	45.1%	4.8%	11.8%	42.7%	19.8%

Based On 10-Year Data

		Comparison of SPB With Other Asset Classes (Last 10Y)
	SPB	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-0.9%	7.3%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	40.3%	14.7%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.12	0.37	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		37.6%	46.8%	2.6%	20.6%	44.3%	12.7%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	2,992,930
Short Interest: % Change Since 11302025	-3.2%
Average Daily Volume	281,663
Days-to-Cover Short Interest	10.63
Basic Shares Quantity	23,900,000
Short % of Basic Shares	12.5%

Returns Analyses

	Title
0	Can Spectrum Brands Stock Hold Up When Markets Turn?
1	Spectrum Brands Stock Return Comparison

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/13/2025	9.7%	2.7%	16.6%
8/7/2025	7.4%	12.3%	8.4%
5/8/2025	3.6%	5.0%	-9.0%
2/6/2025	-7.7%	-7.2%	-8.7%
11/15/2024	-6.0%	-3.8%	-4.2%
8/8/2024	10.6%	9.6%	13.1%
5/9/2024	11.9%	12.5%	7.4%
2/8/2024	7.7%	7.2%	4.9%
...
SUMMARY STATS
# Positive	15	17	15
# Negative	9	7	9
Median Positive	3.6%	3.9%	8.4%
Median Negative	-3.7%	-3.8%	-8.7%
Max Positive	11.9%	12.5%	16.6%
Max Negative	-11.8%	-13.9%	-12.1%

	Forward Returns
11/13/2025	9.7%	2.7%	16.6%
8/7/2025	7.4%	12.3%	8.4%
5/8/2025	3.6%	5.0%	-9.0%
2/6/2025	-7.7%	-7.2%	-8.7%
11/15/2024	-6.0%	-3.8%	-4.2%
8/8/2024	10.6%	9.6%	13.1%
5/9/2024	11.9%	12.5%	7.4%
2/8/2024	7.7%	7.2%	4.9%
11/17/2023	-11.8%	-13.9%	4.3%
8/11/2023	3.0%	3.8%	8.3%
5/12/2023	-0.9%	0.4%	5.1%
2/10/2023	-0.2%	0.8%	-9.3%
11/18/2022	-4.0%	1.0%	16.2%
8/12/2022	-0.9%	-1.0%	-10.8%
5/6/2022	3.9%	8.3%	9.5%
2/4/2022	0.1%	3.9%	-2.9%
11/12/2021	9.2%	12.2%	3.1%
8/6/2021	-3.7%	-3.4%	-4.8%
5/7/2021	3.4%	0.9%	-5.7%
2/5/2021	2.5%	2.6%	2.3%
11/13/2020	3.2%	3.5%	10.0%
7/31/2020	2.4%	7.2%	13.8%
4/30/2020	0.3%	-5.6%	11.4%
1/30/2020	-2.0%	-3.6%	-12.1%
SUMMARY STATS
# Positive	15	17	15
# Negative	9	7	9
Median Positive	3.6%	3.9%	8.4%
Median Negative	-3.7%	-3.8%	-8.7%
Max Positive	11.9%	12.5%	16.6%
Max Negative	-11.8%	-13.9%	-12.1%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11182025	10-K 9/30/2025
6302025	8072025	10-Q 6/29/2025
3312025	5082025	10-Q 3/30/2025
12312024	2062025	10-Q 12/29/2024
9302024	11152024	10-K 9/30/2024
6302024	8082024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	2082024	10-Q 12/31/2023
9302023	11212023	10-K 9/30/2023
6302023	8112023	10-Q 7/2/2023
3312023	5122023	10-Q 4/2/2023
12312022	2102023	10-Q 1/1/2023
9302022	11222022	10-K 9/30/2022
6302022	8122022	10-Q 7/3/2022
3312022	5062022	10-Q 4/3/2022
12312021	2042022	10-Q 1/2/2022

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Spectrum Brands (SPB)

Market Price (12/28/2025): $60.04 | Market Cap: $1.4 BilSector: Consumer Staples | Industry: Household Products

Spectrum Brands (SPB)

Market Price (12/28/2025): $60.04Market Cap: $1.4 BilSector: Consumer StaplesIndustry: Household Products

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

SPB Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Spectrum Brands (SPB)

Spectrum Brands (SPB) - Major Customers

Pet Care

Home & Garden

Home and Personal Care (Small Household Appliances and Personal Care Products)

Interactive Breakdown

Better Bets than Spectrum Brands (SPB)

INDUSTRY: Household Products

Higher Rev Chg 3Y Avg | Lower P/S (Values for SPB: -3.5% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SPB: -3.5% | 9.6x)

Higher Rev Chg LTM (Value for SPB: -5.2%)

Higher Rev Chg 3Y Avg (Value for SPB: -3.5%)

Higher Op Mgn LTM (Value for SPB: 5.3%)

Higher CFO/Rev LTM (Value for SPB: 7.2%)

Higher FCF/Rev LTM (Value for SPB: 5.9%)

Higher Total Yield (Value for SPB: 8.6%)

SECTOR: Consumer Staples

Higher Rev Chg 3Y Avg | Lower P/S (Values for SPB: -3.5% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SPB: -3.5% | 9.6x)

Higher Rev Chg LTM (Value for SPB: -5.2%)

Higher Rev Chg 3Y Avg (Value for SPB: -3.5%)

Higher Op Mgn LTM (Value for SPB: 5.3%)

Higher CFO/Rev LTM (Value for SPB: 7.2%)

Higher FCF/Rev LTM (Value for SPB: 5.9%)

Higher Total Yield (Value for SPB: 8.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SPB: -3.5% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SPB: -3.5% | 9.6x)

Higher Rev Chg LTM (Value for SPB: -5.2%)

Higher Rev Chg 3Y Avg (Value for SPB: -3.5%)

Higher Op Mgn LTM (Value for SPB: 5.3%)

Higher CFO/Rev LTM (Value for SPB: 7.2%)

Higher FCF/Rev LTM (Value for SPB: 5.9%)

Higher Total Yield (Value for SPB: 8.6%)

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Market Price (12/28/2025): $60.04 | Market Cap: $1.4 Bil
Sector: Consumer Staples | Industry: Household Products

Market Price (12/28/2025): $60.04
Market Cap: $1.4 Bil
Sector: Consumer Staples
Industry: Household Products