Short answer
Spectrum Brands Holdings, Inc. (SPB) filed its fiscal 2025 10-K annual report with the SEC on Nov 18, 2025. It reported revenue of $2.8B (−5.2% year over year) and net income of $100M.
- Top risk flagged: Regulatory risk from Dodd-Frank Act conflict minerals provisions, causing increased costs and potential supply limitations for metals from Congo region
FY2025 key financial metrics · XBRL
- Revenue
- $2.8B
- −5.2% YoY
- Net income
- $100M
- −20.0% YoY
- Operating margin
- 4.4%
- −1.3 pp YoY
- Gross margin
- 36.7%
- −0.7 pp YoY
- EPS (diluted)
- $3.86
- −5.9% YoY
- ROE
- 5.2%
- −0.6 pp YoY
- Operating cash flow
- $204M
- +25.2% YoY
Source: XBRL data from the Spectrum Brands Holdings, Inc. (SPB) FY2025 10-K on SEC EDGAR. USD.
Spectrum Brands Holdings, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Consumer products manufacturing and distribution focused on branded household and specialty goods
- Emphasis this year on cybersecurity risk management and compliance with evolving international data privacy laws like GDPR, CCPA, CPRA
- Strategic focus on managing intellectual property risks amid ongoing infringement claims and increased regulatory scrutiny
- Environmental compliance costs highlighted with potential material impact from evolving laws, including EU directives and U.S. EPA regulations
- Noteworthy product recall history this year including Black+Decker and PowerXL products causing significant operational costs and reputation risk
Management Discussion & Analysis
- Revenue: Total net sales down YoY; Global Pet Care $1,082.5M (-6.0%), Home & Garden $572.8M (-1.0%), Home & Personal Care $1,153.7M (-6.5%)
- Profitability: Adjusted EBITDA margin down YoY; GPC 18.0% vs 18.8%, H&G 16.0% vs 15.7%, HPC 4.9% vs 6.1%
- Best segment: Home & Garden, Adj. EBITDA up $0.7M to $91.5M, margin 16.0%; Worst segment: Home & Personal Care, Adj. EBITDA down $18.6M to $56.7M, margin 4.9%
- Cash flow: Operating cash flow $204.1M down $65.7M; investing cash flow ($37.7M) vs $1,021.2M prior year; financing cash flow ($401.2M) vs ($1,578.2M); dividends down $2.4M
- Outlook & risks: Management expects operating cash sufficient for 12 months; risks include tariff volatility, inflationary costs, and potential impairment on tradenames like Rejuvenate®
Risk Factors
- Regulatory risk from Dodd-Frank Act conflict minerals provisions, causing increased costs and potential supply limitations for metals from Congo region
- Geopolitical exposure to PRC government intervention in operations of key Chinese suppliers, risking delays, cost increases, and penalties
- Operational vulnerability from reliance on sole-source manufacturing and supply chain disruptions due to labor issues, trade policy, or extreme weather
- Competitive risk from divestiture of HPC business, potentially leading to smaller, less diversified companies vulnerable to market changes
- Financial risk from substantial indebtedness limiting flexibility and potential need to incur additional debt
Generated from the filing text; verify against the original. How to read a 10-K
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