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Electrical equipment & parts · Industrials · Fiscal year ends Sep 30
Spectrum Brands reported revenue of $2.8B in the fiscal year ended Sep 2025, down 5.2% from the year before. Operating income was $125M, an operating margin of 4.4%, and net income was $100M. Operating cash flow of $204M less capital expenditure of $38M left free cash flow of $165M. Net debt was $444M.
Ranks among the 16 electrical equipment & parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 2,998 | 3,133 | 2,919 | 2,964 | 2,809 |
| Cost of revenue | – | 2,142 | 1,995 | 1,855 | 1,777 |
| Gross profit | 1,035 | 990 | 924 | 1,109 | 1,032 |
| Research & development | 29.8 | 26.7 | 22.5 | 28.1 | 23.2 |
| Selling, general & admin | 46.9 | 996 | 889 | 953 | 883 |
| Operating income | 97.1 | 23.2 | −206 | 171 | 125 |
| Net interest incomeBanks | −117 | −99.4 | −127 | – | – |
| Interest expense | – | 99.4 | 116 | 58.5 | 30.0 |
| Pre-tax income | −11.1 | −90.3 | −290 | 164 | 87.2 |
| Income tax | −26.4 | −13.3 | −56.5 | 64.3 | −13.0 |
| Net income | 190 | 71.6 | 1,802 | 125 | 99.9 |
| Diluted EPS | 4.39 | 1.75 | 45.65 | 4.10 | 3.86 |
| Diluted shares | 43.2 | 40.9 | 39.5 | 30.5 | 25.9 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 188 | 244 | 754 | 369 | 124 |
| Receivables | 248 | 247 | 477 | 635 | 522 |
| Inventory | 563 | 781 | 463 | 462 | 446 |
| Current assets | 2,914 | 3,235 | 2,926 | 1,579 | 1,184 |
| Net PP&E | 260 | 264 | 275 | 267 | 255 |
| Goodwill | 867 | 953 | 855 | 865 | 867 |
| Total assets | 5,340 | 5,776 | 5,258 | 3,842 | 3,380 |
| Payables | 389 | 453 | 397 | 397 | 284 |
| Deferred revenue | – | 1.1 | – | – | – |
| Current liabilities | 1,164 | 1,188 | 765 | 687 | 523 |
| Short-term debt | 12.0 | 12.3 | 8.6 | 9.4 | 11.7 |
| Long-term debt | 2,494 | 3,145 | 1,547 | 551 | 556 |
| Total liabilities | 3,861 | 4,507 | 2,740 | 1,701 | 1,470 |
| Shareholders' equity | 1,472 | 1,263 | 2,518 | 2,141 | 1,910 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 288 | −53.8 | −410 | 163 | 204 |
| Capital expenditure | 43.6 | 64.0 | 59.0 | 44.0 | 38.3 |
| Free cash flow | 245 | −118 | −469 | 119 | 165 |
| Depreciation & amortisation | 117 | 99.3 | 91.2 | 102 | 98.0 |
| Stock-based compensation | 28.9 | 10.2 | 17.2 | 17.5 | 20.5 |
| Acquisitions | 430 | 272 | 0.0 | 0.0 | – |
| Share buybacks | 126 | 134 | 34.7 | 483 | 326 |
| Dividends paid | 71.5 | 68.6 | 66.5 | 50.6 | 48.2 |
| Dividend per share | 1.68 | 1.68 | 1.68 | 1.68 | 1.88 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.5% | −6.8% | 1.5% | −5.2% |
| Operating income growth (YoY) | – | −76.1% | −986.2% | – | −26.8% |
| EPS growth (YoY) | – | −60.1% | 2508.6% | −91.0% | −5.9% |
| Gross margin | 34.5% | 31.6% | 31.7% | 37.4% | 36.7% |
| Operating margin | 3.2% | 0.7% | −7.0% | 5.8% | 4.4% |
| Net margin | 6.3% | 2.3% | 61.7% | 4.2% | 3.6% |
| Return on equityBlank when equity is negative | 12.9% | 5.7% | 71.6% | 5.8% | 5.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 2.3% | 0.5% | −4.6% | 5.4% | 4.4% |
| Free cash flow margin | 8.2% | −3.8% | −16.1% | 4.0% | 5.9% |
| Cash conversion (CFO ÷ net income) | 1.52x | −0.75x | −0.23x | 1.30x | 2.04x |
| Receivable days | 30 | 29 | 60 | 78 | 68 |
| Inventory days | 105 | 133 | 85 | 91 | 92 |
| Payable days | 72 | 77 | 73 | 78 | 58 |
| Interest cover | – | 0.23x | −1.77x | 2.92x | 4.16x |
| Debt ÷ equity | 1.70x | 2.50x | 0.62x | 0.26x | 0.30x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,318 | 2,913 | 802 | 192 | 444 |
| Current ratio | 2.50x | 2.72x | 3.83x | 2.30x | 2.26x |
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.