One-glance verdict
Undervalued
$246.75 our estimate vs market $85.40
Wall Street consensus: $98.75 (-60.0% lower than our fair-value estimate)
65% below our estimate, below the bear case
Fundamentals snapshot
Spectrum Brands Holdings, Inc.
SPB · NYQ · Consumer Defensive · Household & Personal Products
Current price
$85.40
52-week range
$51.41 - $99.06
Market cap
$1.96B
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 69.1% above its 5-year average P/E.
What this company does
Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings sells a variety of home and pet products, like Black & Decker small appliances and IAMS pet food, with most of its money coming from sales in North America and Europe. This matters because if their popular brands sell well, the company makes more money, and this can be seen in their sales figures and how much profit they keep after paying for everything (their profit margins).
How the company got here
Spectrum Brands Holdings, Inc. has a long history, tracing its roots back to 1906. Over the decades, it has evolved through various acquisitions and divestitures, transforming itself into a diversified consumer products company. A key turning point was its strategic focus on building a portfolio of well-known household and personal care brands. This journey has shaped its current structure and market presence across different consumer categories.
What it actually does
Spectrum Brands Holdings, Inc. is a company that makes and sells a wide variety of everyday products found in many homes. Think of the small kitchen appliances you use for cooking, the grooming tools you might use for personal care, and the items that help keep your pets happy and healthy. They also offer products for your home and garden, like pest control solutions and cleaning supplies. These products are sold in stores and online, reaching consumers in many parts of the world.
Home and Personal Care (HPC)
This part of Spectrum Brands focuses on products that help around the house and with personal grooming. It includes kitchen gadgets like toasters and blenders under brands such as Black & Decker and George Foreman, as well as personal care items like hair dryers and shavers from Remington. These are the types of products consumers buy to make their daily routines easier and more comfortable. This segment represents a significant portion of the company's overall business.
Global Pet Care (GPC)
The Global Pet Care segment is dedicated to everything pets. This includes a wide range of items for dogs and cats, such as food, treats like DreamBone, and grooming tools like the FURminator. They also offer products for smaller pets, like food and habitats for small animals, and supplies for aquariums and fish tanks under brands like Tetra and Marineland. This business caters to the growing market of pet owners who consider their animals part of the family.
Home and Garden (H&G)
This segment provides solutions for maintaining homes and gardens, often focusing on pest control and cleaning. You'll find products like insect and weed killers for your yard under brands such as Spectracide and Garden Safe, as well as household pest control solutions like Hot Shot. They also offer cleaning and restoration products for surfaces in your home under the Rejuvenate brand. This part of the business helps consumers manage common household challenges.
What management is betting on now
Spectrum Brands' management is focused on strengthening its existing brands and expanding its market reach. They aim to drive growth by innovating within their product categories and ensuring their brands are readily available to consumers. A key priority is likely to continue optimizing their operations to improve profitability and deliver value to shareholders. This involves making smart decisions about which products to develop and how to sell them effectively in a competitive marketplace.
Price history
How the share price has moved
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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 $246.75 vs current price $85.40
Wall Street consensus is the average analyst price target: $98.75 (-60.0% lower than our fair-value estimate).
Our most-likely fair value is $246.75 a share — about 188.9% above today's price of $85.40, 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 $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 $2.07B Interest coverage 7.31x +47% vs SPB Carries about 1.5x more debt cushion than SPB.
Total debt $725.45M Interest coverage 1.85x -63% vs SPB Carries about 2.7x less 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 69.1% 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)
25.72x
Forward P/E
14.82x
P/B
1.06x
P/S
0.68x
EV/EBITDA
9.08x
PEG ratio
1.36x
Profitability
How much profit each dollar creates
Gross margin
37.5%
Operating margin
8.7%
Net margin
2.8%
ROE
4.5%
ROA
3.2%
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
3.32
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
56.6%
Last ex-div date
2026-08-25