Spectrum Brands Holdings, Inc. (SPB) FY2025 10-K Annual Report
Filed: Nov 18, 2025
Information Technology
Miscellaneous Electrical Machinery, Equipment & SuppliesSEC EDGAR Spectrum Brands Holdings, Inc. (SPB) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Nov 18, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Spectrum Brands Holdings, Inc. FY2025 10-K Analysis
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
Spectrum Brands Holdings, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$2.8B
▼ -5.2% YoY
Net Income
$100M
▼ -20.0% YoY
Gross Margin
36.7%
▼ -69bp YoY
Operating Margin
4.4%
▼ -131bp YoY
Net Margin
3.6%
▼ -65bp YoY
ROE
5.2%
▼ -60bp YoY
Total Assets
$3.4B
▼ -12.0% YoY
EPS (Diluted)
$3.86
▼ -5.9% YoY
Operating Cash Flow
$204M
▲ +25.2% YoY
Source: XBRL data from Spectrum Brands Holdings, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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