Spectrum Brands Holdings, Inc. (SPB) intrinsic value & 10-year financials
Spectrum Brands Holdings, Inc. (SPB) has a Graham intrinsic value of $81.59 per share. At $79.01 on Oct 17, 2026, the stock trades 3% below that value. Over the last 10 fiscal years revenue shrank 0.8% a year to $2.8B, with an average return on invested capital of 3.1%.
- Graham intrinsic value
- $81.59
- Share price (Oct 17, 2026)
- $79.01
- Price vs Graham value
- 3% below
- Market cap
- $2.0B
- Revenue (FY2025)
- $2.8B
- Revenue growth (10-yr CAGR)
- -0.8%
- ROIC (10-yr avg)
- 3.1%
- Free cash flow (FY2025)
- $165.3M
SPB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.8B | $99.9M | $3.86 | $165.3M | 4.4% | 5.3% |
| FY2024 | $3.0B | $124.8M | $4.10 | $118.6M | 5.8% | 4.0% |
| FY2023 | $2.9B | $1.8B | $45.65 | -$468.7M | -7.0% | -5.4% |
| FY2022 | $3.1B | $71.6M | $1.75 | -$117.8M | 0.7% | 0.6% |
| FY2021 | $3.0B | $189.6M | $4.39 | $244.8M | 3.2% | 2.7% |
| FY2020 | $4.0B | $97.8M | $2.18 | $229.3M | 6.1% | 4.1% |
| FY2019 | $3.8B | $471.9M | $9.31 | -$57.3M | 1.9% | 1.5% |
| FY2018 | $3.8B | $768.3M | $20.74 | $278.4M | 2.7% | 1.7% |
| FY2017 | $3.0B | $106.0M | $0.53 | $762.3M | 17.2% | 5.9% |
| FY2016 | $3.0B | -$198.8M | -$0.99 | $852.3M | 20.7% | 11.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Spectrum Brands Holdings, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Spectrum Brands Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just 3.1% ROIC.
Over the decade, Spectrum Brands Holdings, Inc. shows that management has aggressively returned capital to shareholders by retiring 87.2% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Spectrum Brands Holdings, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $81.59 per share.