One-glance verdict
Undervalued
$111.40 our estimate vs market $94.15
Wall Street consensus: $105.37 (-5.4% lower than our fair-value estimate)
15% below our estimate, below the bear case
Fundamentals snapshot
Church & Dwight Co., Inc.
CHD · NYQ · Consumer Defensive · Household & Personal Products
Current price
$94.15
52-week range
$81.33 - $106.04
Market cap
$22.33B
Balance sheet
Watch
11.32x Adequate
Net debt $2.17B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 0.4% last year.
- Reward Returns 17.0% on equity, ahead of 16% of its peers.
- Risk Operating margin compressed from 18.8% to 18.1% over 3 years.
- Risk Insider ownership is only 0.2% (peer median: 0.7%).
What this company does
Church & Dwight Co., Inc.
Church & Dwight is the company behind many popular household and personal care brands you see in stores, including ARM & HAMMER, OXICLEAN, WATERPIK, and TROJAN. The company makes most of its money from these everyday items that people buy repeatedly, which helps create a steady and predictable stream of sales. It also has a smaller business selling specialty ingredients, like baking soda for animal feed, to other companies and farmers.
How the company got here
Founded in 1846 by John Dwight and Austin Church, the company started by selling Arm & Hammer baking soda. For over a century, it focused almost entirely on this single, trusted product, even earning more from its investments than its operations at times. Starting in the 1970s, it began to innovate by creating new uses for baking soda, like the first phosphate-free laundry detergent. A major turning point came in the early 2000s when the company began aggressively acquiring other well-known brands, such as OxiClean, Trojan, Nair, and Waterpik, transforming it into a diversified consumer products giant.
What it actually does
Church & Dwight makes and sells a wide variety of products for your home and personal care that you'd likely find in supermarkets, drugstores, and online. Many of its products are based on its original Arm & Hammer baking soda, including laundry detergent, cat litter, and toothpaste. The company has grown by purchasing many other familiar brands, such as Trojan condoms, OxiClean stain removers, Batiste dry shampoo, Nair hair removers, and Orajel for tooth pain. It operates on a simple model: create or buy trusted brands that people purchase repeatedly and make them widely available in stores.
Consumer Domestic
This is the company's largest business segment, making up the vast majority of its sales. It includes all the household and personal care products sold within the United States, from Arm & Hammer laundry detergent and cat litter to Trojan condoms, OxiClean stain removers, and Waterpik water flossers. Essentially, this division is responsible for the sales of its most recognizable brands to American shoppers in grocery stores, big-box retailers, and drugstores. The company focuses heavily on its main "power brands" which generate most of its sales and profits.
Consumer International
This segment takes the company's well-known household and personal care products and sells them to customers outside of the United States. It operates in countries like Canada, Mexico, the United Kingdom, France, and Australia, among others. While smaller than its U.S. business, this division represents a key area for growth. The goal is to take the success of its popular brands in America and replicate it in other parts of the world.
Specialty Products Division
This is the company's original and more industrial-focused business, and it's the largest producer of sodium bicarbonate (baking soda) in the United States. Instead of selling small boxes for home use, this division sells large quantities of baking soda and related materials to other businesses. These products are used in industrial cleaning, food production, and for animal productivity, such as feed additives for dairy cows to improve their health and digestion.
What management is betting on now
The company's main strategy is to focus on its most popular and profitable "power brands," like Arm & Hammer, TheraBreath, and OxiClean, and grow them even bigger. It is also heavily invested in expanding its international sales, with a goal of significantly increasing revenue (money earned from sales) from markets outside the U.S. To achieve this, the company continues to look for smart acquisitions (buying other companies or brands) that fit well with its existing product lines. Management is also concentrating on improving its margins (the profit made on each dollar of sales) by increasing efficiency and focusing on its highest-growth products.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$315.40M
FY2024 Q4
$237.70M
FY2025 Q1
$169.20M
FY2025 Q2
$208.30M
FY2025 Q4
$743.70M
FY2026 Q1
$142.90M
FY2026 Q2
$256.90M
Revenue
$1.53B
Net income
$202.80M
Diluted EPS
0.85
Operating cash flow
$286.80M
Free cash flow
$256.90M
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Sources
Revenue
$1.47B
Net income
$216.30M
Diluted EPS
0.91
Operating cash flow
$174.80M
Free cash flow
$142.90M
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Sources
Revenue
$1.64B
Net income
$143.50M
Diluted EPS
0.60
Operating cash flow
$798.90M
Free cash flow
$743.70M
Fetching…
Sources
Revenue
$1.59B
Net income
$182.20M
Diluted EPS
0.75
Operating cash flow
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Free cash flow
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Sources
Revenue
$1.51B
Net income
$191.00M
Diluted EPS
0.78
Operating cash flow
$230.80M
Free cash flow
$208.30M
Fetching…
Sources
Revenue
$1.47B
Net income
$220.10M
Diluted EPS
0.89
Operating cash flow
$185.70M
Free cash flow
$169.20M
Fetching…
Sources
Revenue
$1.58B
Net income
$189.20M
Diluted EPS
0.76
Operating cash flow
$292.30M
Free cash flow
$237.70M
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Sources
Revenue
$1.51B
Net income
$-75.10M
Diluted EPS
-0.31
Operating cash flow
$364.00M
Free cash flow
$315.40M
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Sources
Is it cheap or expensive?
Fair value $111.40 vs current price $94.15
Wall Street consensus is the average analyst price target: $105.37 (-5.4% lower than our fair-value estimate).
Our most-likely fair value is $111.40 a share — about 18.3% above today's price of $94.15, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Watch
Net debt $2.2B. Interest coverage 11.3x.
Net debt
$2.17B
Interest coverage
11.32x
Church & Dwight Co., Inc.'s profit covers its interest bill about 11.3 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
CHD
BASELINE
Church & Dwight Co., Inc.
Total debt $2.43B Interest coverage 11.32x This is the baseline the peer rows are being compared against.
Total debt $5.60B Interest coverage 6.82x -40% vs CHD Carries about 1.7x less debt cushion than CHD.
Total debt $7.86B Interest coverage 15.85x +40% vs CHD Carries about 1.4x more debt cushion than CHD.
Total debt $6.54B Interest coverage 9.18x -19% vs CHD Carries about 1.2x less debt cushion than CHD.
Total debt $35.02B Interest coverage 22.52x +99% vs CHD Carries about 2.0x more debt cushion than CHD.
Total debt $1.28B Interest coverage 2.67x -76% vs CHD Carries about 4.2x less debt cushion than CHD.
What you should know
The case for and against CHD
3 Rewards
2 Risks
Rewards
-
Revenue grew 0.4% last year.
-
Returns 17.0% on equity, ahead of 16% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Operating margin compressed from 18.8% to 18.1% over 3 years.
-
Insider ownership is only 0.2% (peer median: 0.7%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
30.18x
Forward P/E
23.31x
P/B
5.13x
P/S
3.59x
EV/EBITDA
18.05x
PEG ratio
2.68x
Profitability
How much profit each dollar creates
Gross margin
45.6%
Operating margin
18.1%
Net margin
12.0%
ROE
17.0%
ROA
7.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.56x
Current ratio
1.15x
Quick ratio
0.64x
Total debt
$2.43B
Total cash
$254.80M
Growth
How the business has been compounding
Revenue TTM
$6.23B
Revenue 5Y CAGR
4.6%
EPS TTM
3.12
EPS 5Y CAGR
21.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.49B
Free CF TTM
$1.09B
FCF margin
17.5%
Dividend
Shareholder payout
Yield
1.3%
Payout ratio
38.6%
Last ex-div date
2026-08-14