SPB
Spectrum Brands Holdings, Inc.
SPB's fundamentals are mixed, but it looks expensive: trading at 28x earnings, above its usual 20x. Analysts expect strong earnings growth, though they disagree widely on how much.
SPB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
SPB's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SPB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.4x | $30.03 | -66% |
| Forward | 17x | $88.35 | — |
| Fair | 20x | $62.89 | -29% |
| Current | 28x | $88.35 | — |
| Expensive | 30x | $96.06 | +8.7% |
Historical ranges are pointers, not guarantees.
SPB's PE is in its expensive range at 28x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its cheap range.
SPB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect SPB's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
SPB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.28 | +66% |
| Q2 2026 | $3.18 | +18% |
| Q1 2026 | $5.14 | +144% |
| Q4 2025 | $4.23 | +3.4% |
| Q3 2025 | $3.86 | -5.9% |
| Q2 2023 | $44.61 | +1649% |
| Q1 2023 | -$0.66 | -127% |
| Q4 2022 | $1.04 | -65% |
| Q3 2022 | $1.75 | -60% |
SPB's earnings per share have fallen from their peak: $3.18 over the past year, against $44.61 in mid-2023.
SPB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $753.3M | +7.7% |
| Q1 2026 | $708.9M | +4.9% |
| Q4 2025 | $677M | -3.3% |
| Q3 2025 | $733.5M | -5.2% |
| Q2 2025 | $699.6M | -10% |
| Q1 2025 | $675.7M | -6% |
| Q4 2024 | $700.2M | +1.2% |
| Q3 2024 | $773.7M | +4.5% |
SPB's revenue is recovering but still below its 2020 peak: $753M last quarter, up 7.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 2.1% | -2.4 points |
| Q1 2026 | 6.1% | +3.2 points |
| Q4 2025 | 4% | -2.4 points |
| Q3 2025 | 4% | +1.2 points |
| Q2 2025 | 4.5% | -1.7 points |
| Q1 2025 | 2.9% | -7.7 points |
| Q4 2024 | 6.4% | +2.8 points |
| Q3 2024 | 2.8% | +0.6 points |
SPB's operating margin was 2.1% last quarter, down 2.4 points from the same quarter a year ago.
SPB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $73.5M | +2.4% |
| Q1 2026 | $900K | -94% |
| Q4 2025 | $59.3M | +$137.6M |
| Q3 2025 | $157.9M | +133% |
| Q2 2025 | $71.8M | -1.1% |
| Q1 2025 | $13.9M | +$22.9M |
| Q4 2024 | -$78.3M | -$65.6M |
| Q3 2024 | $67.7M | +$596.4M |
SPB generated $292M in free cash flow over the past year, about four times what it generated the year before.
SPB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -200K shares |
| 1 year | -7.6% | -1.9M shares |
| 3 years | -44% | -17.9M shares |
| 5 years | -46% | -19.8M shares |
| Available history | -54% | -27.6M shares |
SPB has 23M diluted shares, down 7.6% from a year ago, with $97M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $15.9M |
| Q1 2026 | $6.8M |
| Q4 2025 | $35.5M |
| Q3 2025 | $39.2M |
| Q2 2025 | $54.4M |
| Q1 2025 | $159.9M |
| Q4 2024 | $72.9M |
| Q3 2024 | — |
SPB spent $97M buying back its own shares over the past year, down 66% from the year before.
SPB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.0x | Moderate |
| Q4 2025 | 2.1x | Moderate |
| Q3 2025 | 2.0x | Healthy |
| Q2 2025 | 2.5x | Moderate |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 1.3x | Healthy |
| Q3 2024 | 0.7x | Very low |
SPB's net debt is about 1.7 years of its operating earnings (EBITDA), down from 2.5 years a year ago.
SPB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.2 | Neutral |
| Stochastic | 50.7 | Neutral |
SPB's weekly RSI is 60 (neutral) and its Stochastic is 51 (neutral).
SPB PE vs Consumer Defensive Sector
| Metric | SPB | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 19x | 43% above |
| PE % | 76 | 18 | 58 pts above |
SPB is trading at 28x earnings, a 43% premium to the Consumer Defensive sector's median of 19x.
SPB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $82.2 | 7.4% above |
| 20 week MA | $85.5 | 3.4% above |
| 50 week MA | $78.5 | 13% above |
| 100 week MA | $71.1 | 24% above |
| 200 week MA | $75.5 | 17% above |
SPB has climbed back above all five of its weekly moving averages, and it's now 17% above its 200-week average.
SPB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $63.7 | $76.3 | +20% |
| 2021 | $76.3 | $98.8 | +29% |
| 2022 | $98.8 | $59.3 | -40% |
| 2023 | $59.3 | $79.8 | +35% |
| 2024 | $79.8 | $84.3 | +5.6% |
| 2025 | $84.3 | $60.1 | -29% |
| 2026 YTD | $60.1 | $88.4 | +47% |
SPB has finished higher in four of the last six years. It's up 47% so far in 2026.