WD-40 (WDFC) Financials

$207.30 +0.81 (+0.39%)

Closing price 05/22/2026 04:00 PM Eastern

Extended Trading

$207.28 -0.03 (-0.01%)

As of 05/22/2026 04:10 PM Eastern

Annual Income Statements for WD-40

This table shows WD-40's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/31/2015	8/31/2016	8/31/2017	8/31/2018	8/31/2019	8/31/2020	8/31/2021	8/31/2022	8/31/2023	8/31/2024	8/31/2025
Net Income / (Loss) Attributable to Common Shareholders	45	53	53	65	56	61	70	67	66	70	91
Consolidated Net Income / (Loss)	45	53	53	65	56	61	70	67	66	70	91
Net Income / (Loss) Continuing Operations	45	53	53	65	56	61	70	67	66	70	91
Total Pre-Tax Income	63	73	75	75	81	76	86	84	85	92	102
Total Operating Income	65	71	76	79	82	77	89	87	90	96	104
Total Gross Profit	200	214	214	225	232	223	264	255	274	315	341
Total Revenue	378	381	381	409	423	408	488	519	537	591	620
Operating Revenue	378	381	381	409	423	408	488	519	537	591	620
Total Cost of Revenue	178	166	167	183	191	185	224	264	263	275	279
Operating Cost of Revenue	178	166	167	183	191	185	224	264	263	275	279
Total Operating Expenses	135	143	138	147	150	146	175	167	184	219	238
Selling, General & Admin Expense	109	118	115	121	124	122	145	139	155	184	200
Marketing Expense	23	22	21	22	23	22	28	27	29	34	37
Amortization Expense	3.04	2.98	2.88	2.95	2.71	2.21	1.45	1.43	1.01	1.11	0.18
Total Other Income / (Expense), net	-2.28	1.44	-1.29	-3.43	-1.61	-1.71	-2.34	-3.22	-4.56	-4.84	-2.17
Interest Expense	1.21	1.70	2.58	4.22	2.54	2.44	2.40	2.74	5.61	4.29	3.44
Interest & Investment Income	0.58	0.68	0.51	0.45	0.16	0.09	0.08	0.10	0.23	0.47	0.52
Other Income / (Expense), net	-1.66	2.46	0.79	0.34	0.77	0.64	-0.03	-0.58	0.82	-1.03	0.76
Income Tax Expense	18	20	22	9.96	25	15	16	17	19	22	11
Basic Earnings per Share	$3.05	$3.65	$3.73	$4.65	$4.03	$4.41	$5.11	$4.91	$4.84	$5.12	$6.70
Weighted Average Basic Shares Outstanding	14.58M	14.33M	14.09M	13.93M	13.80M	13.69M	13.70M	13.67M	13.58M	13.55M	13.54M
Diluted Earnings per Share	$3.04	$3.64	$3.72	$4.64	$4.02	$4.40	$5.09	$4.90	$4.83	$5.11	$6.69
Weighted Average Diluted Shares Outstanding	14.65M	14.38M	14.12M	13.96M	13.83M	13.72M	13.73M	13.70M	13.60M	13.58M	13.57M
Weighted Average Basic & Diluted Shares Outstanding	14.70M	14.40M	14.20M	14M	13.70M	13.66M	13.71M	13.58M	13.56M	13.54M	13.53M
Cash Dividends to Common per Share	$1.48	$1.64	$1.89	$2.11	$2.37	$2.62	$2.78	$3.06	$3.27	$3.47	$3.70

This table shows WD-40's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Income / (Loss) Attributable to Common Shareholders	17	17	16	20	17	19	30	21	21	17	20
Consolidated Net Income / (Loss)	17	17	16	20	17	19	30	21	21	17	20
Net Income / (Loss) Continuing Operations	17	17	16	20	17	19	30	21	21	17	20
Total Pre-Tax Income	22	23	20	26	23	24	22	27	27	23	26
Total Operating Income	23	24	21	27	24	25	23	27	28	23	26
Total Gross Profit	72	76	73	82	84	84	80	88	89	87	90
Total Revenue	140	140	139	155	156	153	146	157	163	154	162
Operating Revenue	140	140	139	155	156	153	146	157	163	154	162
Total Cost of Revenue	68	65	66	73	72	69	66	69	74	68	72
Operating Cost of Revenue	68	65	66	73	72	69	66	69	74	68	72
Total Operating Expenses	49	51	52	55	60	59	56	61	61	64	64
Selling, General & Admin Expense	39	44	45	46	49	51	49	52	49	55	55
Marketing Expense	9.82	6.98	6.73	9.35	11	8.39	7.40	9.16	12	8.19	8.82
Amortization Expense	0.50	0.25	0.25	0.30	0.55	0.05	0.04	0.05	0.05	0.05	0.05
Total Other Income / (Expense), net	-1.02	-1.11	-1.14	-1.33	-1.27	-0.87	-0.84	0.10	-0.56	-0.67	-0.43
Interest Expense	1.35	1.15	1.01	1.18	0.95	0.87	1.02	0.89	0.66	0.65	0.67
Interest & Investment Income	0.07	0.07	0.07	0.14	0.20	0.15	0.11	0.10	0.16	0.18	0.15
Other Income / (Expense), net	0.26	-0.04	-0.19	-0.28	-0.51	-0.14	0.07	0.88	-0.06	-0.20	0.08
Income Tax Expense	5.65	5.59	4.27	6.01	6.00	5.33	-7.41	6.49	6.23	5.14	5.54
Basic Earnings per Share	$1.21	$1.28	$1.14	$1.46	$1.24	$1.39	$2.20	$1.54	$1.57	$1.29	$1.50
Weighted Average Basic Shares Outstanding	13.58M	13.56M	13.56M	13.55M	13.55M	13.55M	13.55M	13.54M	13.54M	13.52M	13.48M
Diluted Earnings per Share	$1.22	$1.28	$1.14	$1.46	$1.23	$1.39	$2.19	$1.54	$1.57	$1.28	$1.50
Weighted Average Diluted Shares Outstanding	13.60M	13.58M	13.58M	13.58M	13.58M	13.57M	13.57M	13.57M	13.57M	13.55M	13.51M
Weighted Average Basic & Diluted Shares Outstanding	13.56M	13.56M	13.55M	13.55M	13.54M	13.55M	13.55M	13.53M	13.53M	13.49M	13.46M
Cash Dividends to Common per Share	-	$0.83	$0.88	$0.88	-	$0.88	$0.94	$0.94	-	$0.94	$1.02

This table details how cash moves in and out of WD-40's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/31/2015	8/31/2016	8/31/2017	8/31/2018	8/31/2019	8/31/2020	8/31/2021	8/31/2022	8/31/2023	8/31/2024	8/31/2025
Net Change in Cash & Equivalents	-3.91	-3.01	-14	12	-22	29	29	-48	10	-1.44	11
Net Cash From Operating Activities	55	65	56	65	63	73	85	2.60	98	92	88
Net Cash From Continuing Operating Activities	55	65	56	65	63	72	85	2.60	98	92	88
Net Income / (Loss) Continuing Operations	45	53	53	65	56	61	70	67	66	70	91
Consolidated Net Income / (Loss)	45	53	53	65	56	61	70	67	66	70	91
Depreciation Expense	6.46	6.47	6.77	7.80	7.59	7.70	7.02	8.29	8.15	9.46	8.19
Amortization Expense	-	-	-	-	-	-	-	0.30	0.27	1.22	1.69
Non-Cash Adjustments To Reconcile Net Income	3.89	2.65	4.25	3.85	5.07	5.63	9.81	8.13	5.80	8.21	9.98
Changes in Operating Assets and Liabilities, net	-0.10	3.56	-8.38	-12	-5.72	-2.03	-2.34	-81	18	3.50	-23
Net Cash From Investing Activities	-17	-21	-42	71	-13	-19	-14	-7.69	-6.22	-9.74	-2.39
Net Cash From Continuing Investing Activities	-17	-21	-42	71	-13	-19	-14	-7.69	-6.22	-9.74	-2.39
Purchase of Property, Plant & Equipment	-5.78	-4.35	-20	-12	-13	-19	-15	-8.30	-6.87	-4.21	-4.53
Acquisitions	-4.12	0.00	0.00	-0.18	-	-	-	0.00	0.00	-6.20	0.00
Sale of Property, Plant & Equipment	0.33	0.30	0.43	0.46	0.38	0.36	0.60	0.61	0.66	0.67	0.41
Divestitures	-	-	-	-	-	-	-	-	0.00	0.00	1.73
Net Cash From Financing Activities	-39	-43	-27	-121	-69	-27	-41	-38	-85	-84	-74
Net Cash From Continuing Financing Activities	-39	-43	-27	-121	-69	-27	-41	-38	-85	-84	-74
Repayment of Debt	-	14	32	-88	-3.71	-0.80	-51	-0.80	-0.80	-0.80	-0.80
Repurchase of Common Equity	-30	-32	-31	-23	-30	-17	0.00	-29	-10	-8.09	-12
Payment of Dividends	-22	-24	-27	-30	-33	-36	-38	-42	-45	-47	-50
Issuance of Debt	10	0.00	0.00	20	0.00	30	52	38	-28	-25	-7.86
Other Financing Activities, net	1.21	-2.63	-1.70	-1.82	-2.78	-2.64	-3.67	-4.46	-0.86	-2.44	-2.88
Other Net Changes in Cash	-	-	-	-	-	-	-	-	3.17	0.19	0.01
Cash Interest Paid	1.17	1.57	2.63	4.29	2.20	2.26	2.32	2.69	5.52	4.46	3.52
Cash Income Taxes Paid	15	16	22	10	17	13	19	18	13	20	26

This table details how cash moves in and out of WD-40's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Change in Cash & Equivalents	9.74	2.17	5.13	-10	1.40	8.22	-1.92	-1.31	6.45	-9.55	1.77
Net Cash From Operating Activities	43	27	18	20	27	15	7.98	35	30	9.99	14
Net Cash From Continuing Operating Activities	43	27	18	20	27	15	7.98	35	30	9.99	14
Net Income / (Loss) Continuing Operations	17	17	16	20	17	19	30	21	21	17	20
Consolidated Net Income / (Loss)	17	17	16	20	17	19	30	21	21	17	20
Depreciation Expense	2.21	2.26	2.42	2.50	2.27	2.08	1.99	2.04	2.09	2.10	2.37
Amortization Expense	0.06	0.06	-	0.34	0.57	0.42	0.42	0.43	0.42	0.41	0.50
Non-Cash Adjustments To Reconcile Net Income	1.05	3.38	2.09	1.22	1.52	2.39	2.58	2.72	2.28	2.11	3.43
Changes in Operating Assets and Liabilities, net	23	3.74	-2.38	-3.97	6.07	-8.88	-27	8.91	3.91	-12	-12
Net Cash From Investing Activities	-2.00	-0.67	-1.07	-7.36	-0.63	-0.57	-1.23	-1.05	0.46	-0.74	-1.60
Net Cash From Continuing Investing Activities	-2.00	-0.67	-1.07	-7.36	-0.63	-0.57	-1.23	-1.05	0.46	-0.74	-1.60
Purchase of Property, Plant & Equipment	-2.22	-0.79	-1.31	-1.27	-0.85	-0.69	-1.37	-1.12	-1.35	-0.94	-1.78
Sale of Property, Plant & Equipment	0.22	0.12	0.23	0.11	0.22	0.12	0.13	0.07	0.08	0.20	0.17
Net Cash From Financing Activities	-31	-25	-11	-23	-26	-4.10	-8.54	-37	-25	-19	-12
Net Cash From Continuing Financing Activities	-31	-25	-11	-23	-26	-4.10	-8.54	-37	-25	-19	-12
Repurchase of Common Equity	-3.00	-2.41	-2.91	-2.78	-	-3.63	-3.07	-3.04	-2.58	-7.85	-7.99
Payment of Dividends	-11	-11	-12	-12	-12	-12	-13	-13	-13	-13	-14
Issuance of Debt	-	-9.71	5.54	-	-	15	7.32	-20	-9.46	4.54	9.82
Other Net Changes in Cash	-	0.43	-0.69	-	-	-2.05	-0.13	1.35	0.84	-0.10	1.03

This table presents WD-40's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/31/2015	8/31/2016	8/31/2017	8/31/2018	8/31/2019	8/31/2020	8/31/2021	8/31/2022	8/31/2023	8/31/2024	8/31/2025
Total Assets	339	340	370	317	303	363	430	434	438	449	476
Total Current Assets	205	209	225	168	148	185	241	250	249	255	285
Cash & Equivalents	54	51	37	49	27	56	86	38	48	47	58
Accounts Receivable	59	65	64	69	73	81	90	90	98	117	121
Inventories, net	32	32	35	37	41	41	56	104	87	79	80
Other Current Assets	6.13	4.48	8.01	13	7.22	6.76	9.95	18	16	12	26
Plant, Property, & Equipment, net	11	12	29	36	45	61	70	66	67	63	60
Total Noncurrent Assets	123	119	115	112	110	117	119	119	123	131	130
Goodwill	96	96	96	96	95	96	96	95	96	97	97
Intangible Assets	23	19	16	14	11	8.63	7.24	5.59	4.67	6.22	2.42
Noncurrent Deferred & Refundable Income Taxes	0.00	0.62	-	-	0.40	0.46	0.86	0.68	1.20	0.99	1.03
Other Noncurrent Operating Assets	3.26	3.19	3.09	3.07	3.19	12	15	17	21	26	30
Total Liabilities & Shareholders' Equity	339	340	370	317	303	363	430	434	438	449	476
Total Liabilities	181	199	230	162	157	202	230	246	228	219	208
Total Current Liabilities	48	59	75	86	75	60	86	111	89	104	102
Short-Term Debt	-	0.00	20	24	21	0.80	0.80	39	11	8.66	0.80
Accounts Payable	17	19	21	19	19	22	33	33	31	36	38
Accrued Expenses	15	16	19	26	19	22	26	27	30	31	34
Current Deferred & Payable Income Tax Liabilities	2.29	3.38	1.31	2.13	0.84	1.21	0.32	0.05	0.49	1.55	0.86
Current Employee Benefit Liabilities	13	21	14	15	15	15	26	12	17	26	28
Total Noncurrent Liabilities	133	141	155	76	83	142	144	135	139	115	105
Long-Term Debt	108	122	134	63	60	113	115	107	110	86	86
Noncurrent Deferred & Payable Income Tax Liabilities	23	16	19	11	12	11	10	11	10	9.07	9.38
Other Noncurrent Operating Liabilities	2.28	2.21	1.96	1.82	11	18	19	17	19	20	9.83
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	158	140	139	155	145	160	200	189	210	231	268
Total Preferred & Common Equity	158	140	139	155	145	160	200	189	210	231	268
Total Common Equity	158	140	139	155	145	160	200	189	210	231	268
Common Stock	142	146	151	153	155	158	164	166	172	176	180
Retained Earnings	261	290	316	351	374	399	431	456	477	500	541
Accumulated Other Comprehensive Income / (Loss)	-8.72	-27	-28	-28	-32	-28	-26	-36	-31	-29	-24
Other Equity Adjustments	-	-	-	-	-	-	-	-	-408	-416	-428

This table presents WD-40's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	11/30/2022	2/28/2023	5/31/2023	11/30/2023	2/29/2024	5/31/2024	11/30/2024	2/28/2025	5/31/2025	11/30/2025	2/28/2026
Total Assets	441	450	438	431	442	444	447	458	456	460	474
Total Current Assets	255	263	250	238	251	249	263	272	266	271	284
Cash & Equivalents	37	38	38	50	55	45	55	53	52	49	50
Accounts Receivable	87	100	101	95	105	116	111	111	112	112	121
Inventories, net	119	109	95	82	78	77	75	81	77	84	86
Other Current Assets	12	16	16	11	12	10	22	28	25	26	27
Plant, Property, & Equipment, net	66	66	67	66	65	64	59	59	60	59	59
Total Noncurrent Assets	120	121	122	127	127	131	125	127	129	130	130
Goodwill	95	95	95	96	95	97	97	96	97	97	97
Intangible Assets	5.36	5.11	4.90	4.42	4.17	6.68	2.29	2.35	2.36	2.39	2.45
Noncurrent Deferred & Refundable Income Taxes	0.63	0.65	0.65	1.19	1.19	1.20	0.95	0.97	1.07	1.21	1.27
Other Noncurrent Operating Assets	19	20	21	26	26	26	25	27	29	30	29
Total Liabilities & Shareholders' Equity	441	450	438	431	442	444	447	458	456	460	474
Total Liabilities	250	253	232	215	226	221	221	216	199	196	205
Total Current Liabilities	114	117	95	99	110	105	108	113	94	91	101
Short-Term Debt	43	47	27	24	30	22	23	31	10	5.34	15
Accounts Payable	32	29	27	28	32	32	32	34	28	28	33
Accrued Expenses	25	28	27	28	32	30	29	31	29	29	33
Current Deferred & Payable Income Tax Liabilities	0.30	0.25	0.91	2.36	1.66	2.11	2.15	1.10	0.60	4.74	0.24
Current Employee Benefit Liabilities	14	12	13	16	15	19	21	17	26	24	20
Total Noncurrent Liabilities	136	136	137	116	115	116	114	103	105	104	104
Long-Term Debt	108	108	109	86	86	85	85	84	86	86	86
Noncurrent Deferred & Payable Income Tax Liabilities	11	10	11	11	11	11	9.23	9.99	9.77	9.55	9.18
Other Noncurrent Operating Liabilities	18	18	17	19	18	20	20	8.24	9.84	9.12	8.92
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	191	197	206	216	216	222	226	242	257	264	269
Total Preferred & Common Equity	191	197	206	216	216	222	226	242	257	264	269
Total Common Equity	191	197	206	216	216	222	226	242	257	264	269
Common Stock	168	170	171	173	173	174	174	177	178	180	182
Retained Earnings	459	465	472	484	487	495	507	524	532	545	552
Treasury Stock	-401	-403	-405	-410	-413	-416	-419	-422	-426	-436	-444
Accumulated Other Comprehensive Income / (Loss)	-35	-35	-33	-31	-31	-31	-35	-36	-28	-25	-21

This table displays calculated financial ratios and metrics derived from WD-40's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/31/2015	8/31/2016	8/31/2017	8/31/2018	8/31/2019	8/31/2020	8/31/2021	8/31/2022	8/31/2023	8/31/2024	8/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.27%	0.67%	-0.04%	7.36%	3.63%	-3.51%	19.49%	6.29%	3.55%	9.92%	4.98%
EBITDA Growth	1.40%	14.36%	3.98%	3.93%	4.62%	-5.72%	12.00%	-0.52%	3.81%	7.10%	7.95%
EBIT Growth	0.58%	15.81%	3.91%	2.93%	5.34%	-6.37%	14.07%	-2.33%	4.38%	5.27%	9.68%
NOPAT Growth	4.83%	11.12%	4.37%	26.64%	-16.37%	8.87%	16.19%	-3.08%	-0.54%	5.47%	26.73%
Net Income Growth	2.43%	17.45%	0.57%	23.21%	-14.27%	8.59%	15.68%	-4.13%	-1.98%	5.53%	30.66%
EPS Growth	5.92%	19.74%	2.20%	24.73%	-13.36%	9.45%	15.68%	-3.73%	-1.43%	5.80%	30.92%
Operating Cash Flow Growth	42.17%	18.59%	-14.90%	16.65%	-3.04%	15.61%	16.58%	-96.93%	3,678.46%	-6.46%	-4.46%
Free Cash Flow Firm Growth	52.26%	28.23%	-48.30%	63.17%	-2.64%	-12.28%	35.72%	-95.02%	2,723.78%	-7.85%	-3.96%
Invested Capital Growth	-0.73%	-5.81%	14.47%	9.46%	3.56%	9.06%	5.70%	29.08%	-4.89%	-1.46%	6.66%
Revenue Q/Q Growth	-1.47%	1.38%	-0.16%	1.51%	1.64%	0.54%	0.74%	3.01%	1.90%	2.70%	1.22%
EBITDA Q/Q Growth	-0.93%	4.74%	0.91%	0.24%	5.60%	0.14%	-12.26%	8.97%	5.04%	1.26%	3.72%
EBIT Q/Q Growth	-1.20%	5.28%	0.73%	0.02%	6.24%	0.36%	-13.13%	8.98%	5.13%	0.04%	4.43%
NOPAT Q/Q Growth	0.40%	2.57%	3.06%	12.97%	-17.94%	18.61%	-12.35%	10.31%	2.22%	0.53%	4.30%
Net Income Q/Q Growth	0.41%	5.01%	0.26%	12.54%	-17.63%	19.71%	-13.81%	10.46%	2.79%	0.30%	5.15%
EPS Q/Q Growth	1.00%	5.51%	0.54%	12.90%	-17.28%	19.57%	-13.73%	10.61%	2.99%	0.20%	5.35%
Operating Cash Flow Q/Q Growth	6.03%	2.20%	-0.74%	4.02%	5.62%	7.91%	-11.65%	-90.83%	94.68%	-14.48%	3.21%
Free Cash Flow Firm Q/Q Growth	3.28%	0.96%	-7.44%	17.12%	2.72%	-0.73%	-7.44%	-86.44%	84.96%	-15.62%	2.41%
Invested Capital Q/Q Growth	-3.23%	-2.99%	-0.34%	-0.16%	-6.60%	-1.82%	-3.93%	5.73%	-6.92%	-2.20%	-1.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.94%	56.31%	56.21%	55.14%	54.88%	54.59%	54.03%	49.10%	51.04%	53.38%	55.06%
EBITDA Margin	18.56%	21.09%	21.94%	21.23%	21.44%	20.95%	19.63%	18.38%	18.42%	17.95%	18.46%
Operating Margin	17.29%	18.74%	19.95%	19.24%	19.46%	18.90%	18.20%	16.83%	16.70%	16.32%	16.74%
EBIT Margin	16.85%	19.39%	20.16%	19.32%	19.64%	19.06%	18.20%	16.72%	16.85%	16.14%	16.86%
Profit (Net Income) Margin	11.85%	13.83%	13.91%	15.96%	13.21%	14.86%	14.39%	12.98%	12.28%	11.79%	14.68%
Tax Burden Percent	71.00%	72.30%	70.93%	86.75%	69.22%	80.39%	81.19%	80.05%	77.49%	76.11%	89.54%
Interest Burden Percent	99.03%	98.62%	97.30%	95.23%	97.13%	96.99%	97.39%	96.96%	94.06%	96.00%	97.20%
Effective Tax Rate	29.00%	27.70%	29.07%	13.25%	30.78%	19.61%	18.81%	19.95%	22.51%	23.89%	10.46%
Return on Invested Capital (ROIC)	28.32%	32.52%	32.63%	36.96%	29.06%	29.75%	32.21%	26.52%	23.99%	26.14%	32.30%
ROIC Less NNEP Spread (ROIC-NNEP)	-471.30%	43.50%	29.00%	28.94%	26.62%	27.29%	27.85%	22.79%	20.08%	20.01%	27.25%
Return on Net Nonoperating Assets (RNNOA)	-0.93%	2.77%	5.21%	7.27%	8.09%	9.96%	6.73%	8.10%	9.11%	5.47%	4.20%
Return on Equity (ROE)	27.38%	35.29%	37.84%	44.23%	37.15%	39.71%	38.94%	34.62%	33.10%	31.61%	36.49%
Cash Return on Invested Capital (CROIC)	29.05%	38.50%	19.14%	27.93%	25.56%	21.08%	26.67%	1.13%	29.00%	27.61%	25.85%
Operating Return on Assets (OROA)	18.56%	21.74%	21.62%	22.99%	26.84%	23.41%	22.40%	20.07%	20.76%	21.49%	22.61%
Return on Assets (ROA)	13.05%	15.50%	14.92%	18.99%	18.04%	18.25%	17.72%	15.58%	15.13%	15.70%	19.68%
Return on Common Equity (ROCE)	27.38%	35.29%	37.84%	44.23%	37.15%	39.71%	38.94%	34.62%	33.10%	31.61%	36.49%
Return on Equity Simple (ROE_SIMPLE)	28.38%	37.49%	37.97%	41.94%	38.43%	37.87%	35.05%	35.69%	31.40%	30.21%	0.00%
Net Operating Profit after Tax (NOPAT)	46	52	54	68	57	62	72	70	70	73	93
NOPAT Margin	12.28%	13.55%	14.15%	16.69%	13.47%	15.20%	14.78%	13.47%	12.94%	12.42%	14.99%
Net Nonoperating Expense Percent (NNEP)	499.62%	-10.98%	3.63%	8.03%	2.44%	2.46%	4.36%	3.73%	3.91%	6.13%	5.05%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	26.17%
Cost of Revenue to Revenue	47.06%	43.69%	43.79%	44.86%	45.12%	45.41%	45.97%	50.90%	48.96%	46.62%	44.94%
SG&A Expenses to Revenue	28.79%	30.94%	30.11%	29.72%	29.28%	29.86%	29.81%	26.73%	28.79%	31.13%	32.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	35.64%	37.57%	36.26%	35.90%	35.42%	35.69%	35.83%	32.27%	34.34%	37.06%	38.32%
Earnings before Interest and Taxes (EBIT)	64	74	77	79	83	78	89	87	91	95	105
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	70	80	83	87	91	86	96	95	99	106	114
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.70	10.63	9.88	14.51	15.99	16.42	15.63	13.19	13.62	15.40	10.85
Price to Tangible Book Value (P/TBV)	27.49	58.41	50.00	48.67	58.92	47.06	32.20	28.31	26.02	27.88	17.26
Price to Revenue (P/Rev)	2.80	3.92	3.62	5.52	5.49	6.45	6.42	4.79	5.33	6.01	4.69
Price to Earnings (P/E)	23.61	28.36	26.02	34.59	41.60	43.37	44.60	36.94	43.38	50.96	31.98
Dividend Yield	2.03%	1.56%	1.92%	1.30%	1.40%	1.36%	1.22%	1.68%	1.55%	1.32%	1.72%
Earnings Yield	4.24%	3.53%	3.84%	2.89%	2.40%	2.31%	2.24%	2.71%	2.31%	1.96%	3.13%
Enterprise Value to Invested Capital (EV/IC)	6.51	9.79	8.03	11.89	11.92	12.36	13.74	8.74	10.39	12.92	9.89
Enterprise Value to Revenue (EV/Rev)	2.81	3.96	3.72	5.61	5.62	6.59	6.48	5.00	5.46	6.09	4.74
Enterprise Value to EBITDA (EV/EBITDA)	15.15	18.76	16.94	26.44	26.23	31.44	33.00	27.23	29.66	33.94	25.68
Enterprise Value to EBIT (EV/EBIT)	16.69	20.41	18.44	29.05	28.62	34.55	35.60	29.92	32.41	37.74	28.11
Enterprise Value to NOPAT (EV/NOPAT)	22.91	29.20	26.26	33.63	41.74	43.34	43.84	37.13	42.21	49.05	31.62
Enterprise Value to Operating Cash Flow (EV/OCF)	19.31	23.06	25.45	35.38	37.87	37.02	37.33	996.80	29.83	39.09	33.42
Enterprise Value to Free Cash Flow (EV/FCFF)	22.33	24.66	44.78	44.51	47.45	61.14	52.95	872.13	34.92	46.45	39.51
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.68	0.87	1.10	0.56	0.56	0.71	0.58	0.78	0.57	0.41	0.32
Long-Term Debt to Equity	0.68	0.87	0.96	0.40	0.41	0.71	0.57	0.57	0.52	0.37	0.32
Financial Leverage	0.00	0.06	0.18	0.25	0.30	0.37	0.24	0.36	0.45	0.27	0.15
Leverage Ratio	2.10	2.28	2.54	2.33	2.06	2.18	2.20	2.22	2.19	2.01	1.85
Compound Leverage Factor	2.08	2.24	2.47	2.22	2.00	2.11	2.14	2.15	2.06	1.93	1.80
Debt to Total Capital	40.62%	46.49%	52.49%	35.72%	35.89%	41.54%	36.61%	43.68%	36.45%	29.10%	24.50%
Short-Term Debt to Total Capital	0.00%	0.00%	6.82%	9.76%	9.35%	0.29%	0.25%	11.70%	3.27%	2.66%	0.23%
Long-Term Debt to Total Capital	40.62%	46.49%	45.67%	25.96%	26.54%	41.24%	36.36%	31.99%	33.18%	26.44%	24.27%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	59.38%	53.51%	47.51%	64.28%	64.11%	58.46%	63.39%	56.32%	63.55%	70.90%	75.50%
Debt to EBITDA	1.54	1.52	1.85	1.00	0.90	1.33	1.21	1.53	1.22	0.89	0.76
Net Debt to EBITDA	0.08	0.17	0.44	0.43	0.60	0.67	0.31	1.14	0.73	0.45	0.25
Long-Term Debt to EBITDA	1.54	1.52	1.61	0.72	0.66	1.32	1.20	1.12	1.11	0.81	0.75
Debt to NOPAT	2.33	2.37	2.86	1.27	1.43	1.83	1.60	2.09	1.73	1.29	0.94
Net Debt to NOPAT	0.12	0.26	0.68	0.55	0.95	0.93	0.41	1.55	1.04	0.65	0.31
Long-Term Debt to NOPAT	2.33	2.37	2.49	0.92	1.06	1.82	1.59	1.53	1.58	1.17	0.93
Altman Z-Score	6.87	8.06	6.98	12.35	13.20	11.60	11.83	9.78	11.41	13.73	12.49
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.28	3.57	2.98	1.96	1.98	3.08	2.81	2.25	2.80	2.47	2.79
Quick Ratio	3.36	2.95	2.41	1.37	1.34	2.28	2.04	1.15	1.65	1.59	1.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	48	61	32	52	50	44	60	2.98	84	77	74
Operating Cash Flow to CapEx	1,010.16%	1,611.20%	281.81%	544.81%	487.25%	383.55%	585.85%	33.86%	1,582.87%	2,604.24%	2,134.62%
Free Cash Flow to Firm to Interest Expense	39.53	35.86	12.23	12.21	19.74	18.04	24.93	1.09	14.97	18.07	21.62
Operating Cash Flow to Interest Expense	45.70	38.35	21.52	15.36	24.73	29.79	35.37	0.95	17.53	21.47	25.55
Operating Cash Flow Less CapEx to Interest Expense	41.17	35.97	13.89	12.54	19.66	22.03	29.33	-1.86	16.42	20.64	24.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.10	1.12	1.07	1.19	1.37	1.23	1.23	1.20	1.23	1.33	1.34
Accounts Receivable Turnover	6.18	6.17	5.90	6.13	5.97	5.32	5.73	5.78	5.72	5.48	5.21
Inventory Turnover	5.31	5.21	4.96	5.10	4.95	4.53	4.63	3.30	2.76	3.33	3.51
Fixed Asset Turnover	35.88	33.22	18.57	12.42	10.40	7.72	7.46	7.62	8.09	9.10	10.05
Accounts Payable Turnover	10.12	9.29	8.42	9.16	10.10	9.18	8.13	7.96	8.26	8.25	7.54
Days Sales Outstanding (DSO)	59.06	59.17	61.84	59.54	61.17	68.59	63.65	63.14	63.85	66.61	70.08
Days Inventory Outstanding (DIO)	68.75	70.06	73.53	71.58	73.78	80.63	78.91	110.48	132.26	109.77	104.11
Days Payable Outstanding (DPO)	36.05	39.31	43.36	39.85	36.16	39.75	44.88	45.86	44.18	44.27	48.41
Cash Conversion Cycle (CCC)	91.75	89.93	92.01	91.27	98.79	109.47	97.68	127.76	151.93	132.11	125.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	163	154	176	193	200	218	230	297	283	278	297
Invested Capital Turnover	2.31	2.40	2.31	2.21	2.16	1.96	2.18	1.97	1.85	2.11	2.15
Increase / (Decrease) in Invested Capital	-1.20	-9.49	22	17	6.86	18	12	67	-15	-4.12	19
Enterprise Value (EV)	1,063	1,506	1,414	2,293	2,380	2,690	3,162	2,596	2,935	3,597	2,939
Market Capitalization	1,058	1,493	1,377	2,256	2,326	2,633	3,132	2,487	2,863	3,549	2,910
Book Value per Share	$10.90	$9.86	$9.94	$11.21	$10.60	$11.73	$14.62	$13.84	$15.50	$17.01	$19.81
Tangible Book Value per Share	$2.66	$1.80	$1.97	$3.34	$2.88	$4.09	$7.10	$6.45	$8.11	$9.40	$12.46
Total Capital	266	262	293	242	227	274	316	335	331	325	355
Total Debt	108	122	154	86	81	114	116	146	121	95	87
Total Long-Term Debt	108	122	134	63	60	113	115	107	110	86	86
Net Debt	5.50	13	37	37	54	57	30	108	72	48	29
Capital Expenditures (CapEx)	5.45	4.05	20	12	13	19	14	7.69	6.22	3.53	4.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	55	42	52	57	67	69	70	140	122	114	125
Debt-free Net Working Capital (DFNWC)	157	151	169	106	95	126	156	178	170	161	183
Net Working Capital (NWC)	157	151	149	82	73	125	155	139	160	152	183
Net Nonoperating Expense (NNE)	1.62	-1.04	0.91	2.97	1.12	1.37	1.90	2.58	3.53	3.69	1.94
Net Nonoperating Obligations (NNO)	5.50	13	37	37	54	57	30	108	72	48	29
Total Depreciation and Amortization (D&A)	6.46	6.47	6.77	7.80	7.59	7.70	7.02	8.59	8.42	11	9.88
Debt-free, Cash-free Net Working Capital to Revenue	14.49%	11.10%	13.71%	13.85%	15.92%	16.98%	14.37%	27.01%	22.77%	19.29%	20.22%
Debt-free Net Working Capital to Revenue	41.59%	39.61%	44.53%	25.87%	22.35%	30.81%	31.98%	34.31%	31.73%	27.19%	29.60%
Net Working Capital to Revenue	41.59%	39.61%	39.27%	20.09%	17.34%	30.61%	31.81%	26.76%	29.72%	25.73%	29.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.05	$3.65	$3.73	$4.65	$4.03	$4.41	$5.11	$4.91	$4.84	$5.12	$6.70
Adjusted Weighted Average Basic Shares Outstanding	14.58M	14.33M	14.09M	13.93M	13.80M	13.69M	13.70M	13.67M	13.58M	13.55M	13.54M
Adjusted Diluted Earnings per Share	$3.04	$3.64	$3.72	$4.64	$4.02	$4.40	$5.09	$4.90	$4.83	$5.11	$6.69
Adjusted Weighted Average Diluted Shares Outstanding	14.65M	14.38M	14.12M	13.96M	13.83M	13.72M	13.73M	13.70M	13.60M	13.58M	13.57M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	14.37M	14.18M	13.96M	13.84M	13.70M	13.66M	13.71M	13.58M	13.56M	13.54M	13.53M
Normalized Net Operating Profit after Tax (NOPAT)	46	52	54	68	57	62	72	70	70	73	93
Normalized NOPAT Margin	12.28%	13.55%	14.15%	16.69%	13.47%	15.20%	14.78%	13.47%	12.94%	12.42%	14.99%
Pre Tax Income Margin	16.69%	19.12%	19.61%	18.40%	19.08%	18.49%	17.72%	16.21%	15.85%	15.50%	16.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	52.89	43.34	29.70	18.71	32.73	31.92	37.08	31.64	16.13	22.23	30.38
NOPAT to Interest Expense	38.53	30.29	20.85	16.16	22.44	25.45	30.12	25.50	12.38	17.11	27.01
EBIT Less CapEx to Interest Expense	48.37	40.96	22.07	15.89	27.65	24.16	31.05	28.83	15.02	21.41	29.19
NOPAT Less CapEx to Interest Expense	34.00	27.91	13.22	13.34	17.37	17.69	24.08	22.69	11.28	16.28	25.81
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	48.47%	44.97%	50.65%	45.37%	58.83%	59.36%	54.43%	62.36%	67.55%	67.77%	55.23%
Augmented Payout Ratio	116.01%	106.03%	109.42%	80.04%	111.82%	87.08%	54.43%	105.67%	83.36%	79.40%	68.77%

This table displays calculated financial ratios and metrics derived from WD-40's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	13,486,302.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	13,486,302.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.51
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.69%	12.43%	6.85%	9.40%	11.06%	9.31%	5.03%	1.21%	4.80%	0.60%	10.65%
EBITDA Growth	21.36%	27.68%	-4.60%	6.05%	2.36%	3.82%	9.96%	3.29%	15.57%	-6.90%	13.50%
EBIT Growth	23.16%	28.23%	-7.03%	3.83%	0.16%	3.47%	12.56%	5.03%	18.84%	-7.69%	12.90%
NOPAT Growth	9.58%	24.08%	-6.37%	4.88%	2.22%	6.96%	88.54%	0.19%	22.32%	-8.34%	-33.29%
Net Income Growth	12.10%	24.90%	-5.99%	5.01%	1.26%	8.25%	92.14%	5.72%	26.56%	-7.79%	-31.94%
EPS Growth	12.96%	25.49%	-5.79%	5.80%	0.82%	8.59%	92.11%	5.48%	27.64%	-7.91%	-31.51%
Operating Cash Flow Growth	947.15%	157.89%	71.04%	-42.47%	-36.42%	-44.53%	-55.62%	75.96%	10.05%	-33.12%	79.19%
Free Cash Flow Firm Growth	162.31%	224.52%	302.51%	1,578.32%	-31.45%	-64.94%	-94.20%	-88.85%	-85.72%	-155.51%	61.15%
Invested Capital Growth	-4.89%	-9.41%	-12.23%	-6.21%	-1.46%	1.13%	10.05%	5.79%	6.66%	9.71%	5.10%
Revenue Q/Q Growth	-0.89%	-0.03%	-0.93%	11.46%	0.61%	-1.60%	-4.82%	7.40%	4.18%	-5.53%	4.69%
EBITDA Q/Q Growth	-8.09%	2.69%	-12.25%	28.33%	-11.29%	4.15%	-6.23%	19.22%	-0.74%	-16.10%	14.31%
EBIT Q/Q Growth	-9.27%	2.74%	-14.07%	29.62%	-12.48%	6.14%	-6.51%	20.94%	-0.97%	-17.55%	14.33%
NOPAT Q/Q Growth	-12.87%	5.73%	-10.36%	27.01%	-15.07%	10.63%	58.00%	-32.51%	3.68%	-17.10%	14.99%
Net Income Q/Q Growth	-12.28%	5.47%	-11.13%	27.72%	-15.41%	12.76%	57.73%	-29.73%	1.26%	-17.84%	16.43%
EPS Q/Q Growth	-11.59%	4.92%	-10.94%	28.07%	-15.75%	13.01%	57.55%	-29.68%	1.95%	-18.47%	17.19%
Operating Cash Flow Q/Q Growth	23.53%	-37.11%	-33.21%	10.88%	36.51%	-45.13%	-46.56%	339.61%	-14.62%	-66.66%	43.17%
Free Cash Flow Firm Q/Q Growth	1,285.77%	47.60%	16.95%	-27.78%	-45.01%	-24.51%	-80.64%	38.77%	-29.59%	-393.44%	156.21%
Invested Capital Q/Q Growth	-6.92%	-2.24%	0.10%	2.97%	-2.20%	0.32%	8.93%	-1.02%	-1.39%	3.19%	4.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.35%	53.81%	52.44%	53.14%	54.07%	54.78%	54.56%	56.15%	54.71%	56.23%	55.63%
EBITDA Margin	18.35%	18.85%	16.66%	19.18%	16.91%	17.90%	17.63%	19.57%	18.65%	16.56%	18.08%
Operating Margin	16.54%	17.22%	15.05%	17.53%	15.42%	16.37%	15.93%	17.44%	17.14%	15.06%	16.26%
EBIT Margin	16.73%	17.19%	14.92%	17.35%	15.09%	16.27%	15.98%	18.00%	17.11%	14.93%	16.31%
Profit (Net Income) Margin	11.80%	12.45%	11.17%	12.80%	10.76%	12.33%	20.43%	13.37%	12.99%	11.30%	12.57%
Tax Burden Percent	74.60%	75.77%	78.44%	76.77%	73.67%	78.02%	133.03%	76.39%	77.33%	77.24%	78.59%
Interest Burden Percent	94.56%	95.56%	95.46%	96.11%	96.80%	97.10%	96.08%	97.23%	98.21%	97.97%	98.06%
Effective Tax Rate	25.41%	24.23%	21.56%	23.23%	26.33%	21.98%	-33.03%	23.61%	22.67%	22.76%	21.41%
Return on Invested Capital (ROIC)	22.87%	24.83%	22.42%	26.30%	23.91%	27.75%	44.57%	27.85%	28.56%	24.66%	26.06%
ROIC Less NNEP Spread (ROIC-NNEP)	22.04%	23.86%	21.42%	25.03%	22.36%	26.55%	42.74%	27.99%	27.44%	23.58%	25.46%
Return on Net Nonoperating Assets (RNNOA)	9.99%	10.18%	9.22%	9.37%	6.11%	6.81%	11.41%	6.23%	4.23%	4.59%	5.63%
Return on Equity (ROE)	32.87%	35.01%	31.65%	35.67%	30.02%	34.56%	55.98%	34.08%	32.79%	29.25%	31.69%
Cash Return on Invested Capital (CROIC)	29.00%	35.02%	37.36%	31.20%	27.61%	25.73%	21.17%	24.79%	25.85%	21.91%	21.05%
Operating Return on Assets (OROA)	20.61%	21.80%	18.78%	22.63%	20.09%	22.38%	21.68%	24.51%	22.94%	20.45%	22.27%
Return on Assets (ROA)	14.54%	15.78%	14.06%	16.69%	14.33%	16.95%	27.72%	18.20%	17.42%	15.47%	17.17%
Return on Common Equity (ROCE)	32.87%	35.01%	31.65%	35.67%	30.02%	34.56%	55.98%	34.08%	32.79%	29.25%	31.69%
Return on Equity Simple (ROE_SIMPLE)	0.00%	32.18%	31.67%	31.24%	0.00%	31.41%	35.27%	33.66%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	17	18	16	21	18	20	31	21	22	18	21
NOPAT Margin	12.34%	13.05%	11.81%	13.46%	11.36%	12.77%	21.20%	13.32%	13.26%	11.63%	12.78%
Net Nonoperating Expense Percent (NNEP)	0.84%	0.97%	1.00%	1.27%	1.55%	1.19%	1.83%	-0.14%	1.12%	1.08%	0.60%
Return On Investment Capital (ROIC_SIMPLE)	-	5.61%	-	-	-	5.86%	8.67%	5.92%	6.10%	5.06%	5.58%
Cost of Revenue to Revenue	48.65%	46.19%	47.56%	46.86%	45.93%	45.22%	45.44%	43.85%	45.29%	43.77%	44.37%
SG&A Expenses to Revenue	27.64%	31.43%	32.37%	29.39%	31.50%	32.92%	33.53%	32.85%	29.90%	35.83%	33.88%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	34.81%	36.58%	37.38%	35.61%	38.65%	38.41%	38.63%	38.71%	37.56%	41.17%	39.37%
Earnings before Interest and Taxes (EBIT)	23	24	21	27	24	25	23	28	28	23	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	26	26	23	30	26	27	26	31	30	26	29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	13.62	14.98	16.71	13.65	15.40	16.58	13.35	12.84	10.85	10.03	11.94
Price to Tangible Book Value (P/TBV)	26.02	27.88	30.99	25.58	27.88	29.45	22.56	20.92	17.26	16.10	18.98
Price to Revenue (P/Rev)	5.33	5.85	6.43	5.28	6.01	6.22	5.29	5.39	4.69	4.27	5.05
Price to Earnings (P/E)	43.38	46.55	52.76	43.70	50.96	52.78	37.85	38.13	31.98	29.59	40.16
Dividend Yield	1.55%	1.39%	1.26%	1.53%	1.32%	1.27%	1.50%	1.49%	1.72%	1.92%	1.61%
Earnings Yield	2.31%	2.15%	1.90%	2.29%	1.96%	1.89%	2.64%	2.62%	3.13%	3.38%	2.49%
Enterprise Value to Invested Capital (EV/IC)	10.39	11.93	13.29	10.88	12.92	13.62	10.83	11.10	9.89	8.78	10.20
Enterprise Value to Revenue (EV/Rev)	5.46	5.96	6.54	5.39	6.09	6.30	5.40	5.46	4.74	4.33	5.13
Enterprise Value to EBITDA (EV/EBITDA)	29.66	31.56	35.58	29.58	33.94	35.56	30.13	30.31	25.68	23.91	28.13
Enterprise Value to EBIT (EV/EBIT)	32.41	34.37	38.96	32.50	37.74	39.57	33.36	33.40	28.11	26.22	30.89
Enterprise Value to NOPAT (EV/NOPAT)	42.21	45.08	51.04	42.46	49.05	51.00	36.91	37.53	31.62	29.48	40.19
Enterprise Value to Operating Cash Flow (EV/OCF)	29.83	28.68	30.03	28.78	39.09	47.54	47.03	39.26	33.42	32.43	36.54
Enterprise Value to Free Cash Flow (EV/FCFF)	34.92	32.37	33.24	33.74	46.45	53.22	53.59	46.04	39.51	41.94	49.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.57	0.51	0.53	0.49	0.41	0.48	0.48	0.37	0.32	0.34	0.38
Long-Term Debt to Equity	0.52	0.40	0.40	0.38	0.37	0.37	0.35	0.33	0.32	0.32	0.32
Financial Leverage	0.45	0.43	0.43	0.37	0.27	0.26	0.27	0.22	0.15	0.19	0.22
Leverage Ratio	2.19	2.14	2.16	2.06	2.01	1.99	1.96	1.88	1.85	1.85	1.82
Compound Leverage Factor	2.07	2.05	2.06	1.98	1.95	1.93	1.89	1.82	1.82	1.81	1.79
Debt to Total Capital	36.45%	33.88%	34.85%	32.66%	29.10%	32.30%	32.23%	27.15%	24.50%	25.63%	27.34%
Short-Term Debt to Total Capital	3.27%	7.49%	8.97%	6.76%	2.66%	7.01%	8.61%	2.91%	0.23%	1.50%	4.09%
Long-Term Debt to Total Capital	33.18%	26.39%	25.87%	25.90%	26.44%	25.29%	23.62%	24.25%	24.27%	24.12%	23.25%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.55%	66.12%	65.15%	67.34%	70.90%	67.70%	67.77%	72.85%	75.50%	74.37%	72.66%
Debt to EBITDA	1.22	1.06	1.12	1.03	0.89	1.01	1.05	0.87	0.76	0.81	0.87
Net Debt to EBITDA	0.73	0.58	0.58	0.60	0.45	0.50	0.57	0.40	0.25	0.38	0.44
Long-Term Debt to EBITDA	1.11	0.83	0.83	0.82	0.81	0.79	0.77	0.78	0.75	0.76	0.74
Debt to NOPAT	1.73	1.51	1.61	1.48	1.29	1.45	1.29	1.08	0.94	1.00	1.25
Net Debt to NOPAT	1.04	0.83	0.84	0.86	0.65	0.71	0.70	0.50	0.31	0.46	0.63
Long-Term Debt to NOPAT	1.58	1.18	1.19	1.17	1.17	1.13	0.95	0.96	0.93	0.94	1.06
Altman Z-Score	10.91	12.47	12.95	11.67	13.20	13.72	12.49	13.59	11.96	11.77	13.04
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.80	2.40	2.27	2.36	2.47	2.44	2.40	2.84	2.79	2.97	2.83
Quick Ratio	1.65	1.47	1.45	1.54	1.59	1.55	1.44	1.75	1.75	1.76	1.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	32	47	55	40	22	16	3.19	4.43	3.12	-9.15	5.14
Operating Cash Flow to CapEx	2,136.70%	4,011.33%	1,676.87%	1,719.76%	4,305.38%	2,633.16%	647.04%	3,346.56%	2,356.02%	1,351.15%	891.83%
Free Cash Flow to Firm to Interest Expense	23.66	41.02	54.54	33.59	22.96	18.88	3.13	4.99	4.72	-14.12	7.72
Operating Cash Flow to Interest Expense	31.80	23.49	17.83	16.86	28.61	17.10	7.81	39.54	45.37	15.41	21.47
Operating Cash Flow Less CapEx to Interest Expense	30.31	22.90	16.77	15.88	27.95	16.45	6.61	38.36	43.45	14.27	19.06
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.23	1.27	1.26	1.30	1.33	1.38	1.36	1.36	1.34	1.37	1.37
Accounts Receivable Turnover	5.72	6.06	5.47	5.30	5.48	5.84	5.67	5.35	5.21	5.55	5.49
Inventory Turnover	2.76	2.66	2.89	3.16	3.33	3.58	3.53	3.59	3.51	3.48	3.40
Fixed Asset Turnover	8.09	8.42	8.62	8.81	9.10	9.65	9.91	9.88	10.05	10.52	10.82
Accounts Payable Turnover	8.26	8.87	8.84	9.20	8.25	9.23	8.44	9.18	7.54	9.19	8.49
Days Sales Outstanding (DSO)	63.85	60.22	66.68	68.87	66.61	62.45	64.43	68.19	70.08	65.81	66.53
Days Inventory Outstanding (DIO)	132.26	137.03	126.45	115.33	109.77	102.04	103.30	101.62	104.11	104.75	107.40
Days Payable Outstanding (DPO)	44.18	41.15	41.30	39.69	44.27	39.54	43.24	39.76	48.41	39.73	43.01
Cash Conversion Cycle (CCC)	151.93	156.10	151.83	144.51	132.11	124.95	124.48	130.05	125.78	130.82	130.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	283	276	277	285	278	279	304	301	297	306	320
Invested Capital Turnover	1.85	1.90	1.90	1.95	2.11	2.17	2.10	2.09	2.15	2.12	2.04
Increase / (Decrease) in Invested Capital	-15	-29	-39	-19	-4.12	3.12	28	16	19	27	16
Enterprise Value (EV)	2,935	3,294	3,674	3,097	3,597	3,805	3,295	3,344	2,939	2,691	3,263
Market Capitalization	2,863	3,234	3,613	3,035	3,549	3,752	3,232	3,300	2,910	2,649	3,212
Book Value per Share	$15.50	$15.93	$15.95	$16.40	$17.01	$16.71	$17.88	$18.98	$19.81	$19.52	$19.94
Tangible Book Value per Share	$8.11	$8.56	$8.60	$8.75	$9.40	$9.41	$10.58	$11.65	$12.46	$12.16	$12.55
Total Capital	331	327	332	330	325	334	357	353	355	355	370
Total Debt	121	111	116	108	95	108	115	96	87	91	101
Total Long-Term Debt	110	86	86	85	86	85	84	86	86	86	86
Net Debt	72	60	60	62	48	53	62	44	29	42	51
Capital Expenditures (CapEx)	2.00	0.67	1.07	1.16	0.63	0.57	1.23	1.05	1.27	0.74	1.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	122	113	114	121	114	124	137	131	125	136	149
Debt-free Net Working Capital (DFNWC)	170	163	170	166	161	179	190	183	183	185	199
Net Working Capital (NWC)	160	139	140	144	152	155	159	173	183	179	184
Net Nonoperating Expense (NNE)	0.76	0.84	0.89	1.02	0.93	0.68	1.12	-0.07	0.43	0.51	0.34
Net Nonoperating Obligations (NNO)	72	60	60	62	48	53	62	44	29	42	51
Total Depreciation and Amortization (D&A)	2.27	2.32	2.42	2.84	2.84	2.49	2.41	2.47	2.52	2.52	2.87
Debt-free, Cash-free Net Working Capital to Revenue	22.77%	20.44%	20.37%	20.96%	19.29%	20.51%	22.39%	21.44%	20.22%	21.93%	23.34%
Debt-free Net Working Capital to Revenue	31.73%	29.54%	30.24%	28.84%	27.19%	29.61%	31.07%	29.88%	29.60%	29.75%	31.25%
Net Working Capital to Revenue	29.72%	25.12%	24.94%	24.96%	25.73%	25.73%	26.03%	28.20%	29.47%	28.89%	28.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.21	$1.28	$1.14	$1.46	$1.24	$1.39	$2.20	$1.54	$1.57	$1.29	$1.50
Adjusted Weighted Average Basic Shares Outstanding	13.58M	13.56M	13.56M	13.55M	13.55M	13.55M	13.55M	13.54M	13.54M	13.52M	13.48M
Adjusted Diluted Earnings per Share	$1.22	$1.28	$1.14	$1.46	$1.23	$1.39	$2.19	$1.54	$1.57	$1.28	$1.50
Adjusted Weighted Average Diluted Shares Outstanding	13.60M	13.58M	13.58M	13.58M	13.58M	13.57M	13.57M	13.57M	13.57M	13.55M	13.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	13.56M	13.56M	13.55M	13.55M	13.54M	13.55M	13.55M	13.53M	13.53M	13.49M	13.46M
Normalized Net Operating Profit after Tax (NOPAT)	17	18	16	21	18	20	16	21	22	18	21
Normalized NOPAT Margin	12.34%	13.05%	11.81%	13.46%	11.36%	12.77%	11.15%	13.32%	13.26%	11.63%	12.78%
Pre Tax Income Margin	15.82%	16.43%	14.24%	16.67%	14.61%	15.80%	15.36%	17.50%	16.80%	14.63%	15.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	17.46	21.07	20.58	22.75	24.75	28.62	22.87	31.84	42.38	35.59	39.59
NOPAT to Interest Expense	12.88	15.99	16.30	17.65	18.63	22.45	30.33	23.57	32.84	27.72	31.02
EBIT Less CapEx to Interest Expense	15.97	20.48	19.52	21.77	24.08	27.97	21.67	30.66	40.45	34.45	37.18
NOPAT Less CapEx to Interest Expense	11.39	15.40	15.23	16.67	17.97	21.80	29.13	22.38	30.91	26.58	28.61
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	67.55%	65.12%	67.01%	67.04%	67.77%	67.33%	56.98%	57.16%	55.23%	57.03%	65.09%
Augmented Payout Ratio	83.36%	77.75%	81.78%	83.01%	79.40%	80.42%	68.08%	68.42%	68.77%	75.50%	91.91%

Financials Breakdown Chart

Key Financial Trends

WD-40 Company (NASDAQ: WDFC) has demonstrated a multi-year pattern of revenue growth, margin stability, and cash generation across the last four years of quarterly reports. Below is a concise read on the key trends using the provided quarterly cash flow, income statement, and balance sheet data. The items are grouped with the strongest positive points first, followed by neutral observations, then potential negatives.

Revenue growth with margin lift: Revenue expanded from around $125 million in 2022 to about $164 million by late 2025, with 2025 Q4 at $163.5 million and 2026 Q1 at $154.4 million, signaling sustained top-line growth and scale.
Gross margin improvement: Gross profit as a share of revenue rose from roughly the low- to mid-50s percent in earlier years (about 51% in 2023-2024 range) to the mid-50s (about 54–56%) in 2024–2025 periods, indicating better profitability on product mix and pricing.
Steady operating leverage and margins: Operating margin has generally hovered in the 15–18% range in 2024–2025 quarters (for example, Q4 2025 and Q3 2025 show operating income around $28–$27 million on $156–$164 million in revenue), suggesting durable operating leverage.
Healthy net income and earnings per share: Net income and earnings per share remained positive and reasonably stable across 2024–2025, with Q4 2025 showing net income continuing around $21.2 million and basic/diluted EPS near $1.57, underscoring ongoing profitability.
Consistent free cash flow generation: Net cash from operating activities (NCOA) has been solid (examples include about $27–$35 million in some quarters) and, when paired with modest capital expenditures, results in meaningful free cash flow in several periods (e.g., Q4 2025 CFO about $29.9 million with minimal capex).
Strong liquidity and solid working capital: Cash and equivalents around $48–$55 million in recent quarters, with total current assets well above current liabilities (e.g., Total current assets near $270 million and Total current liabilities near $90–$113 million), yielding a healthy working capital position and a robust current ratio.
Modest leverage with manageable net debt: Long-term debt typically sits in the mid-$80 million range, cash around $50 million, producing a net debt position on the order of roughly $30–$40 million in many periods, and a solid equity base (Total equity around $210–$260 million). This balance suggests reasonable leverage given the cash generation profile.
Significant treasury stock activity: The balance sheet shows substantial treasury stock (a negative line in Total Common Equity), which reduces reported equity but is offset by retained earnings and other equity components. This reflects ongoing capital returns and repurchases rather than an imminent balance-sheet risk by itself.
Financing cash-flow variability: Financing activities have produced noticeable cash outflows in several quarters (dividends, share repurchases, and debt activity), contributing to negative net cash from financing in multiple periods. This reflects the company’s capital return strategy and balance-sheet management rather than cash-flow weakness.
Ongoing cash outflows from financing activities: Net cash from financing activities has been frequently negative (for example, around -$24.8 million to -$40 million in some quarters), which can pressure cash balances if operating cash flow weakens or if repurchases/dividends accelerate.

05/24/26 09:56 PM ETAI Generated. May Contain Errors.

WD-40 Financials - Frequently Asked Questions

According to the most recent income statement we have on file, WD-40's fiscal year ends in August. Their fiscal year 2025 ended on August 31, 2025.

WD-40's net income appears to be on an upward trend, with a most recent value of $90.99 million in 2025, rising from $44.81 million in 2015. The previous period was $69.64 million in 2024. Find out what analysts predict for WD-40 in the coming months.

WD-40's total operating income in 2025 was $103.79 million, based on the following breakdown:

Total Gross Profit: $341.34 million
Total Operating Expenses: $237.55 million

Over the last 10 years, WD-40's total revenue changed from $378.15 million in 2015 to $619.99 million in 2025, a change of 64.0%.

WD-40's total liabilities were at $207.66 million at the end of 2025, a 5.0% decrease from 2024, and a 14.5% increase since 2015.

In the past 10 years, WD-40's cash and equivalents has ranged from $27.23 million in 2019 to $85.96 million in 2021, and is currently $58.13 million as of their latest financial filing in 2025.

Over the last 10 years, WD-40's book value per share changed from 10.90 in 2015 to 19.81 in 2025, a change of 81.8%.

Related Companies

Financial statements for NASDAQ:WDFC last updated on 4/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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WD-40 (WDFC) Financials

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WD-40 (WDFC) Financials

Annual Income Statements for WD-40

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