Spectrum Brands Holdings
SPB on NYSE. Spectrum Brands Holdings sells household products to retail stores. Market value $1.7bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to September 2025.
Recent profit includes a big one-time charge, so we price the company excluding that charge.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $16.53 of spare cash in the past 12 months. A savings account pays about $4.
You pay 9.7 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 2 cents a year. Above 10 is good.
Quality score: 44 of 100. Price score: 100 of 100. Our list needs 70 on quality and 60 on price.
$76.72 a share, 53% above its 1-year low
Over the past year the price has ranged from $49.99 to $99.06.
Dividend: 2.5% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $292 million in the past 12 months, $165 million in the year to September 2025.
| Revenue | |||||
| Revenue | $3.0bn | $3.1bn | $2.9bn | $3.0bn | $2.8bn |
| Operating margin | |||||
| Operating margin | 3.2% | 0.7% | -7.0% | 5.8% | 4.4% |
| Debt to equity | |||||
| Debt to equity | 1.73 | 2.53 | 0.63 | 0.30 | 0.34 |
| Shares outstanding | |||||
| Shares outstanding | 0.04bn | 0.04bn | 0.03bn | 0.02bn | 0.02bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt0.34× equity
- Revenue growth, five yearsSlow, 1.4% a year
- Buying back its own sharesYes, 44% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $753 million last quarter, up 8% on a year ago.
- A loss of $27 million, after a profit of $20 million a year ago.
- It keeps 4 cents of each $1 of sales as operating profit, about the same as a year earlier.
- Spare cash over the past 12 months: $292 million, up from $75 million.
- 8% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $374 million more than cash, down from $559 million a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $774m |
| December 2024 | $700m |
| March 2025 | $676m |
| June 2025 | $700m |
| September 2025 | $734m |
| December 2025 | $677m |
| March 2026 | $709m |
| June 2026 | $753m |
| Quarter to | Amount |
|---|---|
| September 2024 | $29m |
| December 2024 | $24m |
| March 2025 | $900,000 |
| June 2025 | $20m |
| September 2025 | $56m |
| December 2025 | $28m |
| March 2026 | $22m |
| June 2026 | -$27m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 18 November 2025
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
8 long-term investors we follow own it, up from 7 last quarter. 304 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Pzena Investment ManagementRichard Pzena | $208m | 0.6% | Added |
| LSV Asset ManagementJosef Lakonishok | $98m | 0.2% | Added |
| First Eagle Investment ManagementMatthew McLennan | $50m | <0.1% | Added |
| Greenlight CapitalDavid Einhorn | $48m | 1.2% | Cut |
| GAMCO InvestorsMario Gabelli | $29m | 0.3% | Cut |
| Boston PartnersBoston Partners team | $7m | <0.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $402,768 | <0.1% | Cut |
| GMOJeremy Grantham | $326,022 | <0.1% | New |
Largest holders overall
- Pzena Investment Management$208mAdded
- American Century Companies$179mAdded
- BlackRock$166mAdded
- Callodine Capital Management, LP$149mCut
- Vanguard Portfolio Management$130mAdded
- LSV Asset Management$98mAdded
- Vanguard Capital Management$87m
- Dimensional Fund Advisors LP$80m
- Goldman Sachs Group$75mAdded
- Quantinno Capital Management LP$63mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%.
- Pzena Investment ManagementPassive investor10.2%+5.1 ptsSince 30 September 2025
- American Century Investment Management, Inc.Passive investorat least 9.1%+1.8 pts(filed with 3 related holders)Since 30 June 2026
- BlackRock, Inc.Passive investor7.8%+3.3 ptsSince 30 June 2025
- Callodine Capital Management, LPPassive investorat least 7.6%−1.3 pts(filed with 1 related holder)Since 30 June 2026
- Vanguard Portfolio ManagementPassive investor6.4%Since 31 March 2026
- Vanguard Capital ManagementPassive investor5.1%Since 31 March 2026
- Allspring Global Investments Holdings, LLCPassive investorSold down below 5%Since 30 June 2025
- American Century Capital Portfolios, Inc.Passive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Pzena Investment Management Passive investor | 10.2%+5.1 pts | 30 September 2025 | |
American Century Investment Management, Inc. Passive investor | at least 9.1%+1.8 pts (filed with 3 related holders) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 7.8%+3.3 pts | 30 June 2025 | |
Callodine Capital Management, LP Passive investor | at least 7.6%−1.3 pts (filed with 1 related holder) | 30 June 2026 | |
Vanguard Portfolio Management Passive investor | 6.4% | 31 March 2026 | |
Vanguard Capital Management Passive investor | 5.1% | 31 March 2026 | |
Allspring Global Investments Holdings, LLC Passive investor | Sold down below 5% | 30 June 2025 | |
American Century Capital Portfolios, Inc. Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $182,125 of shares on the open market.
- Maura David MExecutive Chairman and CEO, DirectorBought
- Date
- 20 May 2026
- Shares
- 2,500
- Price
- $72.85
- Value
- $182,125
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 20 May 2026 | Maura David M Executive Chairman and CEO, Director | Bought | 2,500 | $72.85 | $182,125 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have barely grown: 1.4% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.