Newell Brands

NWL · Nasdaq · Consumer Discretionary · Financials, fiscal 2016 to 2025

NWL · Last close · October 26, 2026

$5.41

Newell Brands' revenue fell 5.0% to $7.2 billion in fiscal 2025. Its operating margin was 0.5%, down from 0.9% a year earlier. Free cash flow was $17 million, down 92.8%. It paid out $120 million in dividends and buybacks, 706% of free cash flow. The diluted share count rose 0.7%.

NEWELL BRANDS INC. Latest fiscal year ended December 31, 2025 10-K filed February 13, 2026 · 0000814453-26-000008 Updated October 11, 2026

Revenue

$7.2B

5.0%

Operating margin

0.5%

0.3 pts

Net income

−$285M

Free cash flow

$17M

92.8%

Return on capital

0.5%

0.3 pts

Market cap

$2.3B

Oct 26 close

P/E

—

Loss: no P/E

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

What Newell Brands does

Newell Brands makes and sells household and consumer products under brands that include Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Paper Mate and FoodSaver. It sells in over 150 countries.

It runs three operating segments. Home and Commercial Solutions covers kitchen, home storage and commercial products, including Yankee Candle, which also has its own stores. Learning and Development covers writing instruments, art products, labeling and baby gear. Outdoor and Recreation covers outdoor products such as technical apparel and on-the-go beverageware. It sells mostly to mass merchants, warehouse clubs, department stores, e-commerce retailers and distributors, and also directly to consumers online.

A few customers matter a great deal. Amazon, its largest customer in 2025, accounted for approximately 17% of net sales, and Walmart, the second largest, for approximately 13%. Newell says it competes with many large, well-established makers of consumer products. It describes a multi-year turnaround plan and a plan to cut its global workforce by over 900 employees, mostly professional and clerical staff.

Its biggest risks, as it describes them

Intense competition in a market dominated by large retailers, including e-commerce companies.
Depending on a few large customers, who may consolidate or press it to cut prices.
Whether its turnaround plan and restructuring work as hoped.
Failing to keep launching new products and to build its brands.
Reliance on outside suppliers and vendors, and the burden of its debt.

From Newell Brands's annual report on Form 10-K, filed February 13, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new 10-K.

Charts show fiscal years, from the 10-K filings.

Revenue and margins

Revenue

US$ billions, fiscal years

Margins

Percent of revenue

GrossOperatingNetFree cash flow

Net income and earnings per share

From fiscal 2016 to 2022, earnings per share fell 15.0% a year and net income 15.1% a year, while buybacks cut the share count by 1%. Newell Brands then lost money in fiscal 2023, 2024 and 2025.

Net income

US$ billions, fiscal years; loss years in red.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Cash flow

Free cash flow

US$ billions. Cash from operations minus capital expenditure; negative years in red.

Payouts and share count

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Valuation

Two ways to value Newell Brands yourself, both starting from its filings: a discounted cash flow model and the price-to-earnings method.

Discounted cash flow (DCF)

A discounted cash flow (DCF) model values a business as the cash it may generate in future, discounted back to today. The starting figures come from Newell Brands' 10-K (or, for net cash and shares, its latest 10-Q) and the assumptions are yours: start from one of three example scenarios, then change any figure to see what it implies for a share, and how that compares with the last share price.

Value per share on three example scenarios, from Newell Brands' fiscal 2025 free cash flow of $17M, net cash of −$4.3B at December 31, 2025 and 418 million diluted shares, from its filings. The scenarios are fitted to Newell Brands: the base scenario's growth in years 1 to 5 is its revenue growth over the last 3 years, -8.7% a year, kept between 0% and 20%; the cautious and optimistic ones are lower and higher, and growth in years 6 to 10 is halfway to the long-run rate. The base scenario's discount rate is 11%: 9% for a business of moderate risk (Housewares & Specialties), plus 1 point as a smaller company, worth $2.3B, plus 1 point for unsteady results (a loss in fiscal 2025); the cautious and optimistic ones use a point more and a point less. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target. A negative value means Newell Brands' net debt is larger than what that scenario's cash flows are worth today.

From the filings

Starting free cash flow, US$ millions

Cash from operations minus capital spending in fiscal 2025.

Net cash, US$ millions

Cash and short-term investments minus debt and finance leases at December 31, 2025. Negative means net debt.

Diluted shares, millions

Weighted-average diluted shares in fiscal 2025.

Your assumptions

Start from

Fitted to Newell Brands's own revenue growth, as above. Cautious: growth of -2% then 0% a year, 2% after year 10, a 12% discount rate. Base: growth of 0% then 1% a year, 2.5% after year 10, a 11% discount rate. Optimistic: growth of 2% then 2.5% a year, 3% after year 10, a 10% discount rate.

Free cash flow growth, years 1 to 5 (% a year)

Free cash flow growth, years 6 to 10 (% a year)

Growth after year 10 (% a year)Long-run growth forever after year 10. Usually close to inflation, and always below the discount rate.

Discount rate (% a year)The yearly return an investor wants for the risk. A higher rate gives a lower value.

Value per share on these assumptions

—

Last close, October 26, 2026: $5.41
Value on these assumptions, against the last close: —

Cash flows in years 1 to 10, valued today: —
Everything after year 10, valued today: —
Plus net cash: —
Share of value from after year 10: —

Projected free cash flow

US$ billions. Each column is one year's projected free cash flow, split into what it is worth today and the part removed by discounting.

Value todayRemoved by discounting

How the value changes with two assumptions

Value per share in US$, with the growth rates above. The highlighted cell matches the current assumptions.

How the model works. Free cash flow grows at the first rate for five years and the second rate for five more, and each year is discounted at the discount rate. Everything after year 10 is valued as year-10 cash flow × (1 + growth after year 10) ÷ (discount rate − growth after year 10), discounted back ten years. Net cash is added and the total is divided by diluted shares. The result depends entirely on the assumptions. It is not a forecast, a price target or a recommendation. The last close is the consolidated US closing price, from Databento.

Price-to-earnings (P/E) method

Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.

The P/E method needs positive earnings, and Newell Brands' latest diluted earnings per share were negative or zero.

Balance sheet

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	440	287	332	198	203
Debt incl. finance leases	4,888	5,117	4,575	4,508	4,543
Net debt (negative means net cash)	4,448	4,830	4,243	4,310	4,340
Net debt to EBITDA	3.3x	7.9x	17.0x	11.1x	12.4x
Debt to equity	1.2x	1.4x	1.5x	1.6x	1.9x
Interest coverage	4.0x	1.3x	−0.3x	0.2x	0.1x
Current ratio	1.3x	1.3x	1.2x	1.1x	1.1x
Quick ratio	0.7x	0.6x	0.6x	0.6x	0.6x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Insider trades

Over the 12 months between October 27, 2025 and October 26, 2026, no insider bought Newell Brands shares on the open market, and 4 insiders sold $1.9 million.

Date	Insider	Trade	Shares	Price	Value	Filing
Aug 6, 2026	Bradford R TurnerChief Legal & Admin. Officer	Sold	100,000	$6.16	$616,000	Form 4
May 27, 2026	Kristine Kay MalkoskiPresident, Learning & Dev.	Sold	11,750	$3.65	$42,896	Form 4
May 22, 2026	Bradford R TurnerChief Legal & Admin. Officer	Sold	100,000	$3.60	$360,000	Form 4
May 8, 2026	Melanie Arlene HuetPresident, Home & Com - Home	Sold	91,000	$4.50	$409,500	Form 4
May 4, 2026	Tracy L PlattChief Human Resources Officer	Sold	96,169	$4.65	$447,186	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Piotroski F-score

The F-score counts how many of nine simple tests of profitability, funding and efficiency a company passed in a year (Piotroski, 2000). The more tests passed, the stronger the year: 8 or 9 is strong, 0 to 2 weak. Companies that report no gross profit are scored on the other eight.

Test	FY23	FY24	FY25
Net income is positive	Fail	Fail	Fail
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Fail	Pass	Fail
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Pass	Fail	Fail
Current ratio rose	Fail	Fail	Fail
Share count didn't rise	Pass	Fail	Fail
Gross margin rose	Fail	Pass	Pass
Revenue rose relative to assets	Fail	Pass	Pass
F-score	4 of 9	5 of 9	4 of 9
Accruals ratio	−10.4%	−6.2%	−5.1%

The accruals ratio is net income minus cash from operations, over average total assets.

Compare

Put Newell Brands side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Newell Brands	FY25	−5.0%	0.5%	0.2%	0.5%	12.4x	4
Garmin	FY25	15.1%	25.9%	18.8%	26.8%	−1.3x	6	Compare
Polaris	FY25	−0.3%	−4.9%	7.8%	−10.5%	—	3	Compare
Wynn Resorts	FY25	0.1%	15.7%	9.7%	11.6%	5.3x	5	Compare
Bath & Body Works	FY25	−0.2%	15.4%	11.9%	47.5%	2.1x	5	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score above.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	13,264	14,742	10,154	9,715	9,385	10,589	9,459	8,133	7,582	7,204
Revenue growth	124.2%	11.1%	−31.1%	−4.3%	−3.4%	12.8%	−10.7%	−14.0%	−6.8%	−5.0%
Gross profit	2,971	3,810	3,518	3,219	3,084	3,363	2,834	2,353	2,548	2,432
Research and development	147	175	151	149	144	153	140	117	123	114
Operating income	298	707	−7,554	−482	−629	1,013	312	−85	67	39
Net income	528	2,749	−6,942	107	−766	622	197	−388	−216	−285
Diluted EPS (US$)	1.25	5.63	−14.65	0.25	−1.81	1.45	0.47	−0.94	−0.52	−0.68
Diluted shares (millions)	421	488	474	424	424	428	417	414	416	418
Cash flow
Cash from operations	1,840	966	680	1,044	1,432	884	−272	930	496	264
Capital expenditure	441	406	384	265	259	289	312	284	259	247
Free cash flow	1,399	560	296	779	1,173	595	−584	646	237	17
Dividends paid	329	429	435	391	392	394	385	184	118	120
Share buybacks	0	152	1,507	0	0	0	325	0	0	0
Acquisitions	8,635	634	0	0	0	0	0	0	0	0
Stock-based compensation	64	71	76	42	41	52	12	50	74	68
Balance sheet at fiscal year end
Cash and short-term investments	588	486	496	349	981	440	287	332	198	203
Debt incl. finance leases	12,495	10,552	6,696	5,429	5,149	4,888	5,117	4,575	4,508	4,543
Total assets	33,838	33,136	17,722	15,642	14,700	14,269	13,262	12,163	11,004	10,715
Total liabilities	22,453	18,954	12,469	10,646	10,800	10,111	9,743	9,051	8,253	8,324
Shareholders' equity	11,349	14,145	5,218	4,963	3,874	4,158	3,519	3,112	2,751	2,391
Margins and ratios
Gross margin	22.4%	25.9%	34.6%	33.1%	32.9%	31.8%	30.0%	28.9%	33.6%	33.8%
Operating margin	2.2%	4.8%	−74.4%	−5.0%	−6.7%	9.6%	3.3%	−1.1%	0.9%	0.5%
Net margin	4.0%	18.6%	−68.4%	1.1%	−8.2%	5.9%	2.1%	−4.8%	−2.9%	−4.0%
Free cash flow margin	10.6%	3.8%	2.9%	8.0%	12.5%	5.6%	−6.2%	7.9%	3.1%	0.2%
Return on capital	1.1%	3.0%	−33.4%	−3.5%	−5.5%	9.9%	3.7%	−0.9%	0.7%	0.5%
Return on equity	8.0%	21.6%	−71.7%	2.1%	−17.3%	15.5%	5.1%	−11.7%	−7.4%	−11.1%
Return on assets	2.6%	8.2%	−27.3%	0.6%	−5.0%	4.3%	1.4%	−3.0%	−1.9%	−2.6%
Net debt to EBITDA	16.2x	7.5x	—	—	—	3.3x	7.9x	17.0x	11.1x	12.4x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Newell Brands' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Newell Brands.