Latest Ratios: P/E Ratio 21.6x · EV/EBITDA 11.1x · ROE 4.9%. (1995–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.9B | $1.4B | $2.9B | $3.1B | $1.6B | $4.1B | $2.6B | $2.7B | $2.8B | $3.2B | $3.1B |
| Enterprise Value | $2.5B | $1.9B | $3.2B | $4.0B | $4.6B | $6.5B | $4.5B | $4.4B | $6.9B | $8.6B | $8.2B |
| P/E Ratio → | 21.62 | 13.61 | 23.26 | 1.72 | 22.30 | 21.79 | 27.22 | — | 3.60 | 29.88 | — |
| P/S Ratio | 0.69 | 0.48 | 0.98 | 1.06 | 0.51 | 1.38 | 0.97 | 1.09 | 0.73 | 1.05 | 1.03 |
| P/B Ratio | 1.13 | 0.71 | 1.35 | 1.23 | 1.26 | 2.79 | 1.80 | 1.55 | 1.74 | 1.63 | 1.71 |
| P/FCF | 11.67 | 8.21 | 24.47 | — | — | 16.88 | 10.38 | — | 10.34 | 4.15 | 3.81 |
| P/OCF | 9.48 | 6.67 | 17.85 | — | — | 14.33 | 8.80 | 2429.91 | 8.05 | 3.77 | 3.41 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.67 | 1.07 | 1.38 | 1.46 | 2.17 | 1.71 | 1.80 | 1.80 | 2.86 | 2.69 |
| EV / EBITDA | 11.06 | 8.48 | 11.68 | — | 37.27 | 30.38 | 36.47 | — | 19.64 | 20.49 | 15.77 |
| EV / EBIT | 19.74 | 16.14 | 17.37 | — | 971.37 | 47.68 | 34.69 | — | 30.06 | 30.44 | 13.94 |
| EV / FCF | — | 11.41 | 26.82 | — | — | 26.57 | 18.25 | — | 25.67 | 11.28 | 10.00 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.7% | 36.7% | 37.4% | 31.7% | 31.6% | 34.6% | 33.5% | 33.5% | 35.0% | 21.3% | 41.0% |
| Operating Margin | 4.4% | 4.4% | 5.8% | -7.0% | 0.7% | 3.2% | 0.3% | -6.2% | 5.9% | 9.5% | 11.0% |
| Net Profit Margin | 3.6% | 3.6% | 4.2% | 61.7% | 2.3% | 6.3% | 3.7% | 20.2% | 20.2% | 3.5% | -6.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.9% | 4.9% | 5.4% | 95.1% | 5.2% | 13.1% | 6.2% | 29.8% | 43.4% | 5.6% | -11.7% |
| ROA | 2.8% | 2.8% | 2.7% | 32.7% | 1.3% | 3.6% | 1.9% | 7.6% | 3.5% | 0.3% | -0.6% |
| ROIC | 3.9% | 3.9% | 4.4% | -4.0% | 0.4% | 2.0% | 0.2% | -2.5% | 2.6% | 3.0% | 3.6% |
| ROCE | 4.2% | 4.2% | 4.5% | -4.5% | 0.5% | 2.3% | 0.2% | -2.9% | 3.1% | 1.4% | 1.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.30 | 0.67 | 2.53 | 1.73 | 1.74 | 1.36 | 2.93 | 2.93 | 3.04 |
| Debt / EBITDA | 2.93 | 2.93 | 2.38 | — | 26.23 | 11.95 | 20.04 | — | 13.31 | 13.59 | 10.66 |
| Net Debt / Equity | — | 0.28 | 0.13 | 0.37 | 2.34 | 1.60 | 1.37 | 1.00 | 2.58 | 2.79 | 2.78 |
| Net Debt / EBITDA | 2.38 | 2.38 | 1.02 | — | 24.24 | 11.07 | 15.73 | — | 11.73 | 12.95 | 9.76 |
| Debt / FCF | — | 3.20 | 2.35 | — | — | 9.68 | 7.87 | — | 15.33 | 7.13 | 6.19 |
| Interest Coverage | 3.91 | 3.91 | 3.13 | -1.29 | 0.05 | 1.17 | 1.38 | -1.24 | 0.86 | 0.91 | 1.75 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.26 | 2.26 | 2.30 | 3.83 | 2.72 | 2.50 | 1.83 | 1.46 | 2.78 | 1.09 | 1.41 |
| Quick Ratio | 1.41 | 1.41 | 1.62 | 3.22 | 2.07 | 2.02 | 1.49 | 0.97 | 2.37 | 1.07 | 0.81 |
| Cash Ratio | 0.24 | 0.24 | 0.54 | 2.43 | 0.21 | 0.16 | 0.56 | 0.55 | 0.39 | 0.01 | 0.37 |
| Asset Turnover | — | 0.83 | 0.77 | 0.56 | 0.54 | 0.56 | 0.51 | 0.47 | 0.49 | 0.08 | 0.09 |
| Inventory Turnover | 3.98 | 3.98 | 4.01 | 4.31 | 2.74 | 3.49 | 5.47 | 2.97 | 4.24 | 4.77 | 2.42 |
| Days Sales Outstanding | — | 74.40 | 86.96 | 70.23 | 39.98 | 38.00 | 48.19 | 64.29 | 35.34 | 34.64 | 64.76 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.2% | 3.5% | 1.7% | 2.1% | 4.3% | 1.7% | 2.9% | 3.2% | 0.8% | — | — |
| Payout Ratio | 48.2% | 48.2% | 40.5% | 3.7% | 95.8% | 37.7% | 76.9% | 17.3% | 2.9% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 7.3% | 4.3% | 58.3% | 4.5% | 4.6% | 3.7% | — | 27.8% | 3.3% | — |
| FCF Yield | 8.6% | 12.2% | 4.1% | — | — | 5.9% | 9.6% | — | 9.7% | 24.1% | 26.3% |
| Buyback Yield | 16.9% | 24.0% | 16.6% | 17.3% | 8.4% | 3.0% | 14.3% | 10.0% | 10.4% | 8.0% | 1.7% |
| Total Shareholder Yield | 19.1% | 27.5% | 18.4% | 19.4% | 12.7% | 4.8% | 17.2% | 13.2% | 11.2% | 8.0% | 1.7% |
| Shares Outstanding | — | $26M | $31M | $40M | $41M | $43M | $45M | $51M | $37M | $33M | $32M |
Stranded overhead and leverage
According to current market data, SPB trades at a forward P/E of 16.61, which appears to reflect a conglomerate discount when compared to pure-play pet specialty peers like Church & Dwight, suggesting the market remains skeptical of the company's long-term appliance segment strategy.
The valuation multiple is heavily influenced by the inclusion of the lower-margin Home and Personal Care segment, which often trades at a discount to the more stable Global Pet Care business. Investors should monitor whether a potential divestiture of the appliance unit acts as a catalyst for a valuation re-rating toward the higher multiples observed in the consumer defensive sector.
Based on reported financial figures, the company's ROIC has struggled to exceed 2% in recent quarters, a trend that warrants further investigation as it suggests that the firm is currently failing to generate returns on invested capital that exceed its likely cost of capital.
The persistent low ROIC is likely exacerbated by the presence of stranded corporate costs that were not fully removed following the HHI divestiture. Until these legacy overhead burdens are eliminated, the company's ability to compound value for shareholders will remain constrained, regardless of the strength of its underlying pet care brands.
As reported in recent quarterly filings, the cash conversion cycle has remained stubbornly high, reaching 105 days in 2026Q2, which indicates that the company faces significant operational friction in managing its inventory and receivables relative to its industry peers.
The elevated CCC is primarily driven by high days inventory outstanding, which suggests that the company may be carrying excess stock to mitigate supply chain risks or that it is struggling with demand forecasting. This inefficiency ties up capital that could otherwise be deployed for debt reduction or strategic growth initiatives.
Based on recent financial statements, the company has successfully reduced its debt-to-equity ratio to 0.38 as of 2026Q2, a marked improvement from historical levels that provides a much more comfortable cushion for servicing interest obligations in a volatile rate environment.
The significant reduction in leverage following the HHI sale has transformed the balance sheet from a position of vulnerability to one of relative health. While the interest coverage ratio of 7.90 in 2026Q2 suggests improved debt serviceability, management must now avoid the temptation to over-leverage through ill-advised acquisitions.
Investors frequently misapply aggregate operating margins to evaluate SPB, which obscures the reality that the company is a collection of disparate business units with vastly different profitability profiles, rather than a single, homogenous consumer products entity.
Using a blended operating margin to judge the company's performance is misleading because it conflates the high-margin, recurring revenue of the pet care segment with the low-margin, cyclical nature of the appliance business. A more accurate assessment requires a segment-level analysis to determine the true earning power of the core pet and garden franchises.
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Quick answers to the most common questions about buying SPB stock.
Spectrum Brands Holdings, Inc.'s current P/E ratio is 21.6x. The historical average is 34.1x. This places it at the 42th percentile of its historical range.
Spectrum Brands Holdings, Inc.'s current EV/EBITDA is 11.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.1x.
Spectrum Brands Holdings, Inc.'s return on equity (ROE) is 4.9%. The historical average is 6.6%.
Based on historical data, Spectrum Brands Holdings, Inc. is trading at a P/E of 21.6x. This is at the 42th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Spectrum Brands Holdings, Inc.'s current dividend yield is 2.23% with a payout ratio of 48.2%.
Spectrum Brands Holdings, Inc. has 36.7% gross margin and 4.4% operating margin.
Spectrum Brands Holdings, Inc.'s Debt/EBITDA ratio is 2.9x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.