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Furnishings, fixtures & appliances · Consumer Cyclical · Fiscal year ends Dec 31
Whirlpool reported revenue of $15.5B in the fiscal year ended Dec 2025, down 6.5% from the year before. Operating income was $838M, an operating margin of 5.4%, and net income was $318M. Operating cash flow of $470M less capital expenditure of $389M left free cash flow of $81M. Net debt was $5.5B.
Ranks among the 5 furnishings, fixtures & appliances 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 | 21,985 | 19,724 | 19,455 | 16,607 | 15,524 |
| Cost of revenue | 17,576 | 16,651 | 16,285 | 14,026 | 13,138 |
| Gross profit | 4,409 | 3,073 | 3,170 | 2,581 | 2,386 |
| Research & development | 485 | 465 | 473 | 405 | 370 |
| Selling, general & admin | 2,081 | 1,820 | 1,993 | 1,684 | 1,633 |
| Operating income | 2,348 | −1,056 | 1,015 | 143 | 838 |
| Interest expense | 175 | 190 | 351 | 358 | 341 |
| Pre-tax income | 2,332 | −1,227 | 593 | −188 | 516 |
| Income tax | 518 | 265 | 77.0 | 10.0 | 142 |
| Net income | 1,783 | −1,519 | 481 | −323 | 318 |
| Diluted EPS | 28.36 | −27.18 | 8.72 | −5.87 | 5.66 |
| Diluted shares | 62.9 | 55.9 | 55.2 | 55.1 | 56.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 3,044 | 1,958 | 1,570 | 1,275 | 669 |
| Receivables | 3,100 | 1,555 | 1,529 | 1,317 | 1,276 |
| Inventory | 2,717 | 2,089 | 2,247 | 2,035 | 2,307 |
| Current assets | 9,695 | 6,394 | 6,207 | 5,239 | 4,924 |
| Net PP&E | 2,805 | 2,102 | 2,234 | 2,275 | 2,194 |
| Goodwill | 2,485 | 3,330 | 3,330 | 3,322 | 3,103 |
| Total assets | 20,285 | 17,124 | 17,312 | 16,301 | 16,001 |
| Payables | 5,413 | 3,376 | 3,598 | 3,530 | 3,704 |
| Current liabilities | 8,510 | 5,931 | 6,948 | 7,323 | 6,513 |
| Short-term debt | 298 | 248 | 800 | 1,850 | 586 |
| Long-term debt | 4,929 | 7,363 | 6,414 | 4,758 | 5,583 |
| Total liabilities | 15,272 | 14,618 | 14,775 | 13,368 | 13,286 |
| Shareholders' equity | 4,846 | 2,336 | 2,362 | 2,683 | 2,726 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 2,176 | 1,390 | 915 | 835 | 470 |
| Capital expenditure | 525 | 570 | 549 | 451 | 389 |
| Free cash flow | 1,651 | 820 | 366 | 384 | 81.0 |
| Depreciation & amortisation | 494 | 475 | 361 | 333 | 338 |
| Stock-based compensation | 82.0 | 58.0 | 34.0 | 91.0 | 137 |
| Acquisitions | 46.0 | 3,000 | 14.0 | 0.0 | 0.0 |
| Share buybacks | 1,041 | 903 | 0.0 | 50.0 | 0.0 |
| Dividends paid | 338 | 390 | 384 | 384 | 300 |
| Dividend per share | 5.45 | 7.00 | 7.00 | 7.00 | 5.30 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −10.3% | −1.4% | −14.6% | −6.5% |
| Operating income growth (YoY) | – | −145.0% | – | −85.9% | 486.0% |
| EPS growth (YoY) | – | −195.8% | – | −167.3% | – |
| Gross margin | 20.1% | 15.6% | 16.3% | 15.5% | 15.4% |
| Operating margin | 10.7% | −5.4% | 5.2% | 0.9% | 5.4% |
| Net margin | 8.1% | −7.7% | 2.5% | −1.9% | 2.0% |
| Return on equityBlank when equity is negative | 36.8% | −65.0% | 20.4% | −12.0% | 11.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 19.9% | −9.4% | 9.8% | 1.6% | 8.8% |
| Free cash flow margin | 7.5% | 4.2% | 1.9% | 2.3% | 0.5% |
| Cash conversion (CFO ÷ net income) | 1.22x | −0.92x | 1.90x | −2.59x | 1.48x |
| Receivable days | 51 | 29 | 29 | 29 | 30 |
| Inventory days | 56 | 46 | 50 | 53 | 64 |
| Payable days | 112 | 74 | 81 | 92 | 103 |
| Interest cover | 13.4x | −5.56x | 2.89x | 0.40x | 2.46x |
| Debt ÷ equity | 1.08x | 3.26x | 3.05x | 2.46x | 2.26x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,183 | 5,653 | 5,644 | 5,333 | 5,500 |
| Current ratio | 1.14x | 1.08x | 0.89x | 0.72x | 0.76x |
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.