Wd 40 Co. (WDFC) intrinsic value & 10-year financials
Wd 40 Co. (WDFC) has a Graham intrinsic value of $129.86 per share. At $200.09 on Oct 17, 2026, the stock trades 54% above that value. Over the last 10 fiscal years revenue grew 5.6% a year to $620.0M, with an average return on invested capital of 29.4%.
- Graham intrinsic value
- $129.86
- Share price (Oct 17, 2026)
- $200.09
- Price vs Graham value
- 54% above
- Market cap
- $2.7B
- Revenue (FY2025)
- $620.0M
- Revenue growth (10-yr CAGR)
- 5.6%
- ROIC (10-yr avg)
- 29.4%
- Free cash flow (FY2025)
- $83.4M
WDFC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $620.0M | $91.0M | $6.69 | $83.4M | 16.7% | 31.5% |
| FY2024 | $590.6M | $69.6M | $5.11 | $87.8M | 16.3% | 25.6% |
| FY2023 | $537.3M | $66.0M | $4.83 | $91.5M | 16.7% | 23.5% |
| FY2022 | $518.8M | $67.3M | $4.90 | -$5.7M | 16.8% | 25.9% |
| FY2021 | $488.1M | $70.2M | $5.09 | $69.7M | 18.2% | 31.3% |
| FY2020 | $408.5M | $60.7M | $4.40 | $53.4M | 18.9% | 30.8% |
| FY2019 | $423.4M | $55.9M | $4.02 | $49.6M | 19.5% | 32.8% |
| FY2018 | $408.5M | $65.2M | $4.64 | $52.5M | 19.2% | 33.6% |
| FY2017 | $380.5M | $52.9M | $3.72 | $35.4M | 19.9% | 22.8% |
| FY2016 | $380.7M | $52.6M | $3.64 | $60.9M | 18.7% | 36.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
WD 40 CO has demonstrated mature, steady growth, with revenue compounding at 5.6% annually over the past decade.
WD 40 CO has earned high returns on invested capital, averaging 29.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
WD 40 CO has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, WD 40 CO is modeled at 7.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $129.86 per share.