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Specialty chemicals · Basic Materials · Fiscal year ends Dec 31
Newell Brands reported revenue of $7.2B in the fiscal year ended Dec 2025, down 5.0% from the year before. Operating income was $39M, an operating margin of 0.5%, and net income was −$285M. Operating cash flow of $264M less capital expenditure of $247M left free cash flow of $17M. Net debt was $4.5B.
Ranks among the 20 specialty chemicals companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 10,589 | 9,459 | 8,133 | 7,582 | 7,204 |
| Cost of revenue | 7,226 | 6,625 | 5,780 | 5,034 | 4,772 |
| Gross profit | 3,363 | 2,834 | 2,353 | 2,548 | 2,432 |
| Research & development | 153 | 140 | 117 | 123 | 114 |
| Selling, general & admin | 2,274 | 2,033 | 2,001 | 2,083 | 1,985 |
| Operating income | 1,013 | 312 | −85.0 | 67.0 | 39.0 |
| Interest expense | 256 | 235 | 283 | – | – |
| Pre-tax income | 760 | 157 | −543 | −260 | −301 |
| Income tax | 138 | −40.0 | −155 | −44.0 | −16.0 |
| Net income | 622 | 197 | −388 | −216 | −285 |
| Diluted EPS | 1.45 | 0.47 | −0.94 | −0.52 | −0.68 |
| Diluted shares | 428 | 417 | 414 | 416 | 418 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 440 | 287 | 332 | 198 | 203 |
| Receivables | 1,500 | 1,250 | 1,195 | 878 | 987 |
| Inventory | 2,087 | 2,203 | 1,531 | 1,400 | 1,281 |
| Current assets | 4,352 | 4,052 | 3,354 | 2,775 | 2,708 |
| Net PP&E | 1,204 | 1,184 | 1,212 | 1,157 | 1,209 |
| Goodwill | 3,504 | 3,298 | 3,071 | 3,038 | 3,101 |
| Total assets | 14,269 | 13,262 | 12,163 | 11,004 | 10,715 |
| Payables | 1,680 | 1,062 | 1,003 | 891 | 931 |
| Current liabilities | 3,317 | 3,078 | 2,897 | 2,437 | 2,525 |
| Short-term debt | 3.0 | 621 | 329 | 87.0 | 130 |
| Long-term debt | 4,883 | 4,756 | 4,575 | 4,508 | 4,543 |
| Total liabilities | 10,111 | 9,743 | 9,051 | 8,253 | 8,324 |
| Shareholders' equity | 4,158 | 3,519 | 3,112 | 2,751 | 2,391 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 884 | −272 | 930 | 496 | 264 |
| Capital expenditure | 289 | 312 | 284 | 259 | 247 |
| Free cash flow | 595 | −584 | 646 | 237 | 17.0 |
| Depreciation & amortisation | 325 | 296 | 334 | 323 | 311 |
| Stock-based compensation | 52.0 | 12.0 | 50.0 | 74.0 | 68.0 |
| Share buybacks | 0.0 | 325 | 0.0 | 0.0 | – |
| Dividends paid | 394 | 385 | 184 | 118 | 120 |
| Dividend per share | 0.92 | 0.92 | 0.44 | 0.28 | 0.28 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −10.7% | −14.0% | −6.8% | −5.0% |
| Operating income growth (YoY) | – | −69.2% | −127.2% | – | −41.8% |
| EPS growth (YoY) | – | −67.6% | −300.0% | – | – |
| Gross margin | 31.8% | 30.0% | 28.9% | 33.6% | 33.8% |
| Operating margin | 9.6% | 3.3% | −1.0% | 0.9% | 0.5% |
| Net margin | 5.9% | 2.1% | −4.8% | −2.8% | −4.0% |
| Return on equityBlank when equity is negative | 15.0% | 5.6% | −12.5% | −7.9% | −11.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.2% | 3.1% | −0.9% | 0.8% | 0.5% |
| Free cash flow margin | 5.6% | −6.2% | 7.9% | 3.1% | 0.2% |
| Cash conversion (CFO ÷ net income) | 1.42x | −1.38x | −2.40x | −2.30x | −0.93x |
| Receivable days | 52 | 48 | 54 | 42 | 50 |
| Inventory days | 105 | 121 | 97 | 102 | 98 |
| Payable days | 85 | 59 | 63 | 65 | 71 |
| Interest cover | 3.96x | 1.33x | −0.30x | – | – |
| Debt ÷ equity | 1.18x | 1.53x | 1.58x | 1.67x | 1.95x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 4,446 | 5,090 | 4,572 | 4,397 | 4,470 |
| Current ratio | 1.31x | 1.32x | 1.16x | 1.14x | 1.07x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.