One-glance verdict
Undervalued
$218.93 our estimate vs market $86.17
Wall Street consensus: $99.71 (-54.5% lower than our fair-value estimate)
61% below our estimate, below the bear case
Fundamentals snapshot
Spectrum Brands Holdings, Inc.
SPB · NYQ · Consumer Defensive · Household & Personal Products
Current price
$86.17
52-week range
$49.99 - $99.06
Market cap
$1.98B
Balance sheet
Watch
4.98x Stretched
Net debt $489.30M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 2.3% last year.
- Reward Returns 4.5% on equity, ahead of 33% of its peers.
- Reward Free cash flow was positive in 7/10 years.
- Risk Stock trades 76.0% above its 5-year average P/E.
What this company does
Spectrum Brands Holdings, Inc.
Spectrum Brands owns many common household brands, selling everything from Black & Decker kitchen gadgets and Remington shavers to Tetra fish food and Spectracide weed killer. The company's sales are spread across these different areas of home goods, pet care, and garden supplies. This variety matters because it helps protect the company's overall health, as a strong year for pet products could help balance out a slow year for home appliances.
How the company got here
Spectrum Brands started in 1906 as a battery maker called Rayovac. For many years, that was its main business. Starting in the early 2000s, the company began buying other companies to grow and branch out, a strategy known as diversification. It bought Remington, the shaver company, and then a large pet supply company called Tetra. In 2005, after buying a company that made lawn and garden products, it changed its name to Spectrum Brands to reflect that it was now a collection of many different consumer brands. Over the years, it has bought and sold many businesses, including selling its original battery business to Energizer, to focus on its current main areas.
What it actually does
Spectrum Brands is a company that owns a variety of well-known brands that you might see in a supermarket or hardware store. Think of it as a parent company for many different types of household and personal products. Their products range from kitchen appliances and hair straighteners to fish food and insect repellent. The company sells these items through big retailers like Walmart, online stores like Amazon, and specialty pet and home improvement stores. They focus on making everyday items that people often buy again and again.
Home and Personal Care
This part of the company sells small appliances for your kitchen and tools for personal grooming. You might recognize brands like Black & Decker for coffee makers and toasters, George Foreman for grills, and Russell Hobbs for kettles. For personal care, they own Remington, which makes things like electric shavers, hair dryers, and flat irons. This segment makes money by selling these electronic gadgets to people who want to simplify daily tasks or improve their personal style. It is the largest part of the company by sales.
Global Pet Care
This segment is all about products for pets, from dogs and cats to fish and birds. They sell things like dog treats under the brands DreamBone and Good'n'Fun, and grooming tools from FURminator. A big part of this business is for fish owners, with brands like Tetra and Marineland that sell everything from aquarium kits and filters to fish food. People who own pets pay for these products to feed, clean, and care for their animals, making it a steady business since pets always need supplies.
Home and Garden
This division focuses on products to help you take care of your house and yard. It includes brands like Spectracide and Garden Safe for getting rid of weeds and bugs in your garden. For pests inside the house, they have brands like Hot Shot and Black Flag. They also sell insect repellents that you would use on yourself, like Cutter and Repel. Homeowners and renters buy these products to protect their homes and gardens from pests and to make their outdoor spaces more enjoyable.
What management is betting on now
The company's current main goal is to be a simpler and more focused business. After selling off some large parts of the company, like its hardware and home improvement division, management wants to concentrate on its remaining core brands in pet care, home and garden, and personal care. They are focused on improving profitability (how much money they make from each sale) and generating more cash. The strategy is to invest in their well-known brands that encourage repeat purchases from customers, which they believe will lead to more stable growth over time.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$67.70M
FY2025 Q1
$-78.30M
FY2025 Q2
$13.90M
FY2025 Q3
$71.80M
FY2025 Q4
$157.90M
FY2026 Q1
$59.30M
FY2026 Q2
$900.00K
FY2026 Q3
$73.50M
Revenue
$753.30M
Net income
$-26.80M
Diluted EPS
-1.16
Operating cash flow
$83.30M
Free cash flow
$73.50M
Fetching…
Sources
Revenue
$708.90M
Net income
$22.10M
Diluted EPS
0.94
Operating cash flow
$10.20M
Free cash flow
$900.00K
Fetching…
Sources
Revenue
$677.00M
Net income
$28.40M
Diluted EPS
1.21
Operating cash flow
$67.40M
Free cash flow
$59.30M
Fetching…
Sources
Revenue
$733.50M
Net income
$55.60M
Diluted EPS
2.19
Operating cash flow
$171.10M
Free cash flow
$157.90M
Fetching…
Sources
Revenue
$699.60M
Net income
$19.90M
Diluted EPS
0.80
Operating cash flow
$81.80M
Free cash flow
$71.80M
Fetching…
Sources
Revenue
$675.70M
Net income
$900.00K
Diluted EPS
0.03
Operating cash flow
$23.10M
Free cash flow
$13.90M
Fetching…
Sources
Revenue
$700.20M
Net income
$23.50M
Diluted EPS
0.84
Operating cash flow
$-72.40M
Free cash flow
$-78.30M
Fetching…
Sources
Revenue
$773.80M
Net income
$28.50M
Diluted EPS
1.03
Operating cash flow
$80.70M
Free cash flow
$67.70M
Fetching…
Sources
Is it cheap or expensive?
Fair value $218.93 vs current price $86.17
Wall Street consensus is the average analyst price target: $99.71 (-54.5% lower than our fair-value estimate).
Our most-likely fair value is $218.93 a share — about 154.1% above today's price of $86.17, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Watch
Net debt $489.3M. Interest coverage 5.0x.
Net debt
$489.30M
Interest coverage
4.98x
Spectrum Brands Holdings, Inc.'s profit covers its interest bill about 5.0 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
SPB
BASELINE
Spectrum Brands Holdings, Inc.
Total debt $748.20M Interest coverage 4.98x This is the baseline the peer rows are being compared against.
Total debt $5.71B Interest coverage 1.47x -71% vs SPB Carries about 3.4x less debt cushion than SPB.
Total debt $1.41B Interest coverage 4.33x -13% vs SPB Has roughly the same debt cushion as SPB.
Total debt $3.43B Interest coverage 2.96x -40% vs SPB Carries about 1.7x less debt cushion than SPB.
Total debt $1.28B Interest coverage 2.67x -46% vs SPB Carries about 1.9x less debt cushion than SPB.
Total debt $5.60B Interest coverage 6.82x +37% vs SPB Carries about 1.4x more debt cushion than SPB.
What you should know
The case for and against SPB
3 Rewards
1 Risk
Rewards
-
Revenue grew 2.3% last year.
-
Returns 4.5% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 7/10 years.
Risks
-
Stock trades 76.0% above its 5-year average P/E.
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)
26.76x
Forward P/E
15.37x
P/B
1.07x
P/S
0.69x
EV/EBITDA
7.42x
PEG ratio
1.36x
Profitability
How much profit each dollar creates
Gross margin
39.6%
Operating margin
16.8%
Net margin
2.8%
ROE
4.5%
ROA
4.3%
Health
Liquidity and balance-sheet strength
Debt / equity
0.39x
Current ratio
2.41x
Quick ratio
1.54x
Total debt
$748.20M
Total cash
$258.90M
Growth
How the business has been compounding
Revenue TTM
$2.87B
Revenue 5Y CAGR
-1.6%
EPS TTM
3.22
EPS 5Y CAGR
30.2%
Cash flow
How much cash the business throws off
Operating CF TTM
$332.00M
Free CF TTM
$165.30M
FCF margin
5.8%
Dividend
Shareholder payout
Yield
2.2%
Payout ratio
58.4%
Last ex-div date
2026-08-25