What is Energizer's operating income?

Energizer's total operating income in 2025 was $451.40 million, based on the following breakdown: Total Gross Profit: $1.23 billion Total Operating Expenses: $781.30 million

Energizer (ENR) Financials

$21.70 +0.32 (+1.50%)

Closing price 09/21/2026 03:58 PM Eastern

Extended Trading

$21.64 -0.06 (-0.27%)

As of 04:03 AM Eastern

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Annual Income Statements for Energizer

This table shows Energizer'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	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-	-	202	94	39	-110	145	-236	141	38	194
Consolidated Net Income / (Loss)	-	-	202	94	51	-93	161	-232	141	38	239
Net Income / (Loss) Continuing Operations	-	-	202	94	65	47	161	-232	141	38	239
Total Pre-Tax Income	-	-	273	175	73	68	154	-306	176	54	284
Total Operating Income	-	-	301	262	285	360	416	-140	400	234	451
Total Gross Profit	-	-	811	831	1,004	1,082	1,161	1,120	1,124	1,104	1,233
Total Revenue	-	-	1,756	1,798	2,495	2,745	3,022	3,050	2,960	2,887	2,953
Operating Revenue	-	-	1,756	1,798	2,495	2,745	3,022	3,050	2,960	2,887	2,953
Total Cost of Revenue	-	-	944	967	1,491	1,663	1,860	1,931	1,836	1,783	1,720
Operating Cost of Revenue	-	-	944	967	1,491	1,663	1,860	1,931	1,836	1,783	1,720
Total Operating Expenses	-	-	511	569	719	722	745	1,259	724	870	781
Selling, General & Admin Expense	-	-	361	422	516	483	487	485	489	526	532
Marketing Expense	-	-	116	113	127	147	162	137	142	144	152
Research & Development Expense	-	-	22	22	33	35	35	35	33	32	33
Amortization Expense	-	-	11	12	43	57	61	61	59	58	59
Impairment Charge	-	-	-	-	-	0.00	0.00	542	0.00	111	5.90
Total Other Income / (Expense), net	-	-	-27	-87	-212	-292	-262	-166	-224	-180	-168
Interest Expense	-	-	53	98	226	290	265	158	167	158	167
Other Income / (Expense), net	-	-	26	11	14	-2.00	2.90	-7.30	-57	-22	-0.90
Income Tax Expense	-	-	72	82	8.40	21	-6.70	-74	35	16	45
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	-	-	-	-	32
Basic Earnings per Share	-	-	$3.27	$1.56	$0.59	($1.59)	$2.12	($3.37)	$1.97	$0.53	$3.37
Weighted Average Basic Shares Outstanding	62.40M	61.90M	61.70M	59.80M	66.40M	68.80M	68.20M	69.90M	71.50M	71.80M	70.90M
Diluted Earnings per Share	-	-	$3.22	$1.52	$0.58	($1.58)	$2.11	($3.37)	$1.94	$0.52	$3.32
Weighted Average Diluted Shares Outstanding	62.40M	61.90M	62.60M	61.40M	67.30M	69.50M	68.70M	69.90M	72.40M	72.70M	72M
Weighted Average Basic & Diluted Shares Outstanding	62.40M	61.90M	61.60M	59.90M	69.18M	137.04M	133.73M	142.58M	-	71.92M	68.43M
Cash Dividends to Common per Share	$0.25	$1.00	$1.10	$1.16	$1.20	$1.20	$1.20	$1.20	$1.20	$1.20	$1.20

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	1.90	32	-44	56	22	28	154	-10	-3.40	10	40
Consolidated Net Income / (Loss)	1.90	32	-44	48	22	28	154	35	-3.40	10	40
Net Income / (Loss) Continuing Operations	1.90	32	-44	46	22	28	154	35	-3.40	10	40
Total Pre-Tax Income	9.40	42	-58	60	30	36	164	53	-4.80	22	50
Total Operating Income	70	87	-23	100	62	79	205	105	36	87	90
Total Gross Profit	267	253	277	307	270	259	400	304	257	259	281
Total Revenue	717	663	701	806	732	663	725	833	779	643	734
Operating Revenue	717	663	701	806	732	663	725	833	779	643	734
Total Cost of Revenue	450	410	424	499	462	404	326	528	522	385	454
Operating Cost of Revenue	450	410	424	499	462	404	326	528	522	385	454
Total Operating Expenses	197	166	300	207	207	180	195	200	220	172	191
Selling, General & Admin Expense	128	123	130	146	131	136	128	137	149	133	129
Marketing Expense	47	21	38	37	53	21	43	34	49	19	42
Research & Development Expense	7.80	7.90	7.40	8.50	8.00	8.10	8.20	8.30	7.80	7.60	7.40
Amortization Expense	15	15	15	15	15	15	15	15	14	13	13
Total Other Income / (Expense), net	-60	-45	-35	-43	-32	-43	-41	-52	-41	-65	-40
Interest Expense	41	39	39	40	37	38	39	48	40	39	40
Other Income / (Expense), net	-19	-5.90	3.80	-2.50	5.00	-5.00	-1.90	-4.20	-1.10	-26	-0.20
Income Tax Expense	7.50	10	-14	12	7.80	8.10	11	19	-1.40	12	9.90
Weighted Average Basic Shares Outstanding	71.70M	71.80M	71.80M	71.80M	72M	72.20M	71.20M	70.90M	68.40M	68.50M	68.50M
Weighted Average Diluted Shares Outstanding	72.60M	72.60M	71.80M	72.70M	73.20M	73.30M	72.10M	72M	68.40M	69.10M	69.20M
Weighted Average Basic & Diluted Shares Outstanding	71.78M	71.79M	143.59M	71.92M	72.19M	72.19M	68.27M	68.43M	68.47M	68.47M	68.48M

This table details how cash moves in and out of Energizer'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	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	413	-215	91	1,390	-1,510	991	-1,011	-34	18	-6.40	19
Net Cash From Operating Activities	162	194	197	229	150	376	180	1.00	395	430	147
Net Cash From Continuing Operating Activities	162	194	197	229	142	389	180	1.00	395	430	147
Net Income / (Loss) Continuing Operations	-4.00	128	202	94	65	47	161	-232	141	38	239
Consolidated Net Income / (Loss)	-4.00	128	202	94	51	-93	161	-232	141	38	239
Depreciation Expense	42	34	50	45	93	112	119	122	123	121	127
Non-Cash Adjustments To Reconcile Net Income	79	38	11	79	65	160	136	582	110	195	-53
Changes in Operating Assets and Liabilities, net	45	-6.50	-66	12	-81	70	-236	-471	22	76	-166
Net Cash From Investing Activities	-39	-371	2.00	-56	-2,922	217	-126	-91	-56	-114	-98
Net Cash From Continuing Investing Activities	-39	-371	2.00	-56	-2,515	-64	-126	-91	-56	-114	-98
Purchase of Property, Plant & Equipment	-40	-29	-25	-24	-55	-65	-65	-78	-57	-98	-84
Acquisitions	-12	-344	0.00	-38	-2,460	-5.10	-67	-14	0.00	-22	-14
Purchase of Investments	-	-	-	-	-	-	-	0.00	0.00	-5.20	0.00
Sale of Property, Plant & Equipment	14	1.50	27	6.10	0.20	6.40	5.70	0.60	0.70	7.30	0.00
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	0.00	0.00	4.20	0.00
Net Cash From Financing Activities	309	-45	-107	1,226	1,272	393	-1,069	79	-309	-300	-29
Net Cash From Continuing Financing Activities	309	-45	-107	1,226	1,277	394	-1,069	79	-309	-300	-29
Repayment of Debt	-26	-4.60	-4.80	-27	-784	-1,469	-2,842	-120	-221	-208	-542
Repurchase of Common Equity	0.00	-32	-60	-70	-45	-45	-96	-	0.00	0.00	-90
Payment of Dividends	-16	-63	-69	-70	-91	-102	-100	-93	-86	-87	-87
Issuance of Debt	999	59	37	1,403	1,800	2,021	1,983	300	0.00	0.00	698
Other Financing Activities, net	-649	-5.20	-10	-10	-8.30	-11	-14	-7.60	-2.20	-5.00	-8.20
Effect of Exchange Rate Changes	-20	7.90	-1.60	-8.50	-9.10	-	-	-23	-12	-22	-0.50

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	18	-84	-11	70	-21	-57	32	65	-21	-42	0.90
Net Cash From Operating Activities	178	37	46	169	77	-13	21	62	150	-1.70	8.20
Net Cash From Continuing Operating Activities	178	37	46	169	77	-13	21	62	150	-1.70	8.20
Net Income / (Loss) Continuing Operations	1.90	32	-44	48	22	28	154	35	-3.40	10	40
Consolidated Net Income / (Loss)	1.90	32	-44	48	22	28	154	35	-3.40	10	40
Depreciation Expense	30	29	31	31	32	31	32	32	32	31	30
Non-Cash Adjustments To Reconcile Net Income	39	23	120	12	6.90	11	-99	24	53	-3.80	-20
Changes in Operating Assets and Liabilities, net	107	-48	-61	78	16	-83	-65	-30	68	-39	-42
Net Cash From Investing Activities	-37	-28	-24	-25	-35	-21	-26	-16	-25	-17	-9.10
Net Cash From Continuing Investing Activities	-37	-28	-24	-25	-35	-21	-26	-16	-25	-17	-9.10
Purchase of Property, Plant & Equipment	-26	-27	-19	-27	-35	-21	-14	-15	-25	-18	-9.10
Net Cash From Financing Activities	-111	-83	-30	-76	-56	-26	32	21	-146	-23	1.50
Net Cash From Continuing Financing Activities	-111	-83	-30	-76	-56	-25	32	20	-146	-23	0.80
Repayment of Debt	-83	-62	-8.30	-55	-25	-201	116	-432	-110	-1.00	28
Payment of Dividends	-23	-22	-22	-22	-24	-22	-21	-21	-23	-21	-21
Other Financing Activities, net	-4.70	-	-0.10	-0.20	-7.50	-	-0.20	-0.50	-8.00	-	-6.10
Effect of Exchange Rate Changes	-12	-9.80	-2.80	2.70	-7.20	2.80	4.70	-0.80	0.20	-0.80	0.30

This table presents Energizer'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	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	1,619	1,732	1,824	3,179	5,450	5,728	5,008	4,572	4,510	4,342	4,557
Total Current Assets	1,077	890	1,020	1,171	2,037	2,211	1,440	1,590	1,557	1,479	1,679
Cash & Equivalents	502	287	378	522	259	460	239	205	223	217	236
Accounts Receivable	156	191	230	230	340	292	293	422	512	441	404
Inventories, net	276	289	317	323	469	511	728	772	650	657	781
Prepaid Expenses	143	122	95	96	177	158	179	191	172	163	258
Plant, Property, & Equipment, net	206	202	177	167	362	0.00	383	362	364	380	403
Total Noncurrent Assets	336	640	627	1,841	3,051	3,517	3,185	2,620	2,589	2,483	2,475
Goodwill	38	230	230	244	1,005	1,016	1,054	1,003	1,016	1,046	1,051
Intangible Assets	76	235	224	233	1,959	1,909	1,871	1,296	1,238	1,071	1,006
Noncurrent Deferred & Refundable Income Taxes	163	64	48	37	23	24	22	62	88	146	167
Other Noncurrent Operating Assets	59	112	125	1,327	64	568	238	259	247	221	251
Total Liabilities & Shareholders' Equity	1,619	1,732	1,824	3,179	5,450	5,728	5,008	4,572	4,510	4,342	4,557
Total Liabilities	1,679	1,762	1,739	3,154	4,906	5,419	4,652	4,442	4,299	4,207	4,387
Total Current Liabilities	466	533	582	751	1,069	1,648	946	698	734	820	795
Short-Term Debt	8.20	61	108	251	34	845	117	18	20	14	8.60
Accounts Payable	167	217	219	229	299	378	455	329	371	433	402
Other Current Liabilities	291	255	255	271	334	425	375	350	343	373	384
Total Noncurrent Liabilities	1,212	1,228	1,157	2,403	3,837	3,771	3,705	3,744	3,565	3,387	3,592
Long-Term Debt	1,212	1,228	1,157	1,153	3,462	3,307	3,333	3,499	3,332	3,193	3,408
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	19	171	140	91	18	12	8.30	6.10
Other Noncurrent Operating Liabilities	-	-	0.00	1,231	205	324	281	226	220	186	178
Total Equity & Noncontrolling Interests	-60	-30	85	25	544	309	356	131	211	136	170
Total Preferred & Common Equity	-60	-30	85	25	544	309	356	131	211	136	170
Total Common Equity	-60	-30	85	25	544	309	356	131	211	136	170
Common Stock	182	195	197	218	871	860	833	830	751	668	604
Retained Earnings	6.90	71	199	177	130	-66	-5.00	-305	-165	-128	87
Accumulated Other Comprehensive Income / (Loss)	-249	-266	-239	-242	-298	-308	-230	-145	-138	-181	-226
Other Equity Adjustments	-	-	-	-	-	-	-	-249	-	-	-296

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

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026	6/30/2026
Total Assets	4,436	4,505	4,424	4,287	4,241	4,230	4,212	4,516	4,444	4,399	4,466
Total Current Assets	1,488	1,568	1,471	1,358	1,393	1,406	1,395	1,642	1,563	1,500	1,600
Cash & Equivalents	194	202	242	158	147	196	139	171	215	173	173
Accounts Receivable	357	385	376	334	369	350	305	324	373	310	367
Inventories, net	747	765	641	666	687	667	749	870	721	744	748
Prepaid Expenses	191	216	212	200	191	194	202	278	254	274	312
Plant, Property, & Equipment, net	350	352	384	387	375	385	385	394	421	393	385
Total Noncurrent Assets	2,598	2,585	2,569	2,542	2,473	2,439	2,432	2,480	2,460	2,507	2,482
Goodwill	1,020	1,023	1,024	1,022	1,035	1,032	1,038	1,050	1,051	1,048	1,049
Intangible Assets	1,267	1,253	1,224	1,209	1,085	1,054	1,040	1,026	992	979	967
Noncurrent Deferred & Refundable Income Taxes	67	66	92	92	119	139	143	147	165	166	167
Other Noncurrent Operating Assets	244	242	228	218	235	215	212	256	253	313	300
Total Liabilities & Shareholders' Equity	4,436	4,505	4,424	4,287	4,241	4,230	4,212	4,516	4,444	4,399	4,466
Total Liabilities	4,288	4,338	4,253	4,096	4,118	4,090	4,078	4,333	4,302	4,226	4,263
Total Current Liabilities	637	726	724	668	701	783	750	924	784	732	772
Short-Term Debt	14	17	14	13	14	14	7.50	7.60	8.60	8.60	8.60
Accounts Payable	329	381	375	362	381	436	416	425	408	393	404
Other Current Liabilities	294	328	336	293	306	334	326	492	367	330	359
Total Noncurrent Liabilities	3,651	3,612	3,529	3,428	3,417	3,306	3,329	3,409	3,518	3,494	3,491
Long-Term Debt	3,415	3,377	3,303	3,226	3,213	3,117	3,155	3,218	3,319	3,305	3,295
Noncurrent Deferred & Payable Income Tax Liabilities	16	16	11	11	11	9.70	8.80	6.80	9.40	9.60	12
Other Noncurrent Operating Liabilities	220	219	215	191	194	179	165	183	190	180	184
Total Equity & Noncontrolling Interests	148	167	171	191	123	141	134	183	141	173	203
Total Preferred & Common Equity	148	167	171	191	123	141	134	183	141	173	203
Total Common Equity	148	167	171	191	123	141	134	183	141	173	203
Common Stock	787	769	719	704	687	630	615	598	588	595	599
Retained Earnings	-216	-184	-164	-132	-176	-108	-80	73	59	48	67
Accumulated Other Comprehensive Income / (Loss)	-184	-179	-159	-156	-164	-175	-195	-221	-226	-190	-183
Other Equity Adjustments	-239	-239	-225	-225	-224	-206	-206	-268	-280	-280	-280

This table displays calculated financial ratios and metrics derived from Energizer's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	2.39%	38.76%	10.03%	10.08%	0.95%	-2.96%	-2.46%	2.28%
EBITDA Growth	-96.52%	-17.94%	997.96%	-15.37%	22.97%	19.80%	14.55%	-104.74%	1,925.88%	-28.61%	73.65%
EBIT Growth	-100.00%	0.00%	0.00%	-16.18%	9.32%	19.56%	17.25%	-135.08%	333.11%	-38.20%	112.60%
NOPAT Growth	100.00%	0.00%	0.00%	-36.84%	80.01%	-1.38%	74.79%	-122.52%	426.86%	-48.21%	129.25%
Net Income Growth	0.00%	0.00%	0.00%	-53.60%	-45.35%	-282.58%	272.45%	-243.88%	160.69%	-72.88%	527.30%
EPS Growth	0.00%	0.00%	0.00%	-52.80%	-61.84%	-372.41%	233.54%	-259.72%	157.57%	-73.20%	538.46%
Operating Cash Flow Growth	-26.42%	19.84%	1.70%	15.97%	-34.63%	151.77%	-52.26%	-99.44%	39,420.00%	8.70%	-65.76%
Free Cash Flow Firm Growth	105.43%	-573.19%	170.82%	-7.89%	-1,189.47%	119.21%	-81.68%	-66.61%	1,513.05%	-10.38%	-62.61%
Invested Capital Growth	-9.16%	47.73%	-0.08%	-6.68%	274.02%	-5.32%	11.08%	-3.48%	-3.00%	-6.40%	7.61%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	1.63%	0.10%	0.81%	0.70%	0.00%	0.93%
EBITDA Q/Q Growth	0.00%	7.19%	665.45%	597.37%	377.34%	-0.36%	1.30%	-105.11%	1,705.52%	0.00%	0.44%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-2.00%	1.13%	-138.73%	321.80%	0.00%	0.29%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-17.16%	51.39%	-126.75%	414.27%	0.00%	-2.01%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-2,220.45%	514.12%	-207.88%	158.25%	0.00%	-5.05%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-532.00%	370.51%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	56.94%	-3.44%	-0.20%	-4.55%	213.42%	4.12%	2.74%	-98.21%	-2.06%	0.00%	-42.20%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	164.21%	87.16%	26.14%	-32.79%	-67.42%	-49.11%	-7.51%	144.58%	-59.83%
Invested Capital Q/Q Growth	0.00%	52.86%	-1.12%	3.85%	-12.95%	-9.75%	-1.02%	-12.13%	-0.57%	-2.43%	3.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	46.21%	46.22%	40.24%	39.42%	38.44%	36.70%	37.98%	38.25%	41.75%
EBITDA Margin	0.00%	0.00%	21.45%	17.73%	15.71%	17.11%	17.80%	-0.84%	15.73%	11.51%	19.55%
Operating Margin	0.00%	0.00%	17.13%	14.60%	11.42%	13.10%	13.78%	-4.58%	13.51%	8.10%	15.29%
EBIT Margin	0.00%	0.00%	18.59%	15.22%	11.99%	13.03%	13.88%	-4.82%	11.59%	7.34%	15.26%
Profit (Net Income) Margin	0.00%	0.00%	11.48%	5.20%	2.05%	-3.40%	5.33%	-7.59%	4.75%	1.32%	8.09%
Tax Burden Percent	0.00%	0.00%	73.73%	53.37%	69.90%	-137.81%	104.35%	75.78%	79.97%	70.82%	84.13%
Interest Burden Percent	0.00%	0.00%	83.73%	64.04%	24.44%	18.93%	36.78%	207.68%	51.24%	25.39%	63.06%
Effective Tax Rate	0.00%	0.00%	26.27%	46.63%	11.49%	30.87%	-4.35%	0.00%	20.03%	29.18%	15.87%
Return on Invested Capital (ROIC)	0.00%	0.00%	22.81%	14.91%	11.73%	7.53%	12.82%	-2.79%	9.43%	5.12%	11.70%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	20.67%	9.65%	0.95%	-4.36%	3.87%	-6.89%	3.86%	0.96%	7.15%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	708.59%	155.71%	6.25%	-29.41%	35.59%	-92.42%	72.90%	16.87%	144.66%
Return on Equity (ROE)	0.00%	0.00%	731.40%	170.62%	17.98%	-21.88%	48.41%	-95.21%	82.33%	21.99%	156.36%
Cash Return on Invested Capital (CROIC)	9.60%	-38.53%	22.89%	21.82%	-103.89%	12.99%	2.32%	0.75%	12.48%	11.73%	4.37%
Operating Return on Assets (OROA)	0.00%	0.00%	18.36%	10.94%	6.93%	6.40%	7.81%	-3.07%	7.55%	4.79%	10.12%
Return on Assets (ROA)	0.00%	0.00%	11.34%	3.74%	1.18%	-1.67%	3.00%	-4.83%	3.09%	0.86%	5.37%
Return on Common Equity (ROCE)	0.00%	0.00%	731.40%	170.62%	17.98%	-21.88%	48.41%	-95.21%	82.33%	21.99%	156.36%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	236.78%	381.63%	9.40%	-30.18%	45.23%	-177.26%	66.68%	28.06%	0.00%
Net Operating Profit after Tax (NOPAT)	0.00	0.00	222	140	252	249	434	-98	320	166	380
NOPAT Margin	0.00%	0.00%	12.63%	7.79%	10.11%	9.06%	14.38%	-3.21%	10.81%	5.74%	12.86%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	2.14%	5.26%	10.78%	11.89%	8.95%	4.10%	5.57%	4.17%	4.55%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	10.55%
Cost of Revenue to Revenue	0.00%	0.00%	53.79%	53.78%	59.76%	60.58%	61.56%	63.30%	62.02%	61.75%	58.25%
SG&A Expenses to Revenue	0.00%	0.00%	20.58%	23.46%	20.67%	17.61%	16.12%	15.88%	16.54%	18.23%	18.03%
R&D to Revenue	0.00%	0.00%	1.25%	1.25%	1.31%	1.29%	1.14%	1.14%	1.11%	1.09%	1.10%
Operating Expenses to Revenue	0.00%	0.00%	29.08%	31.62%	28.82%	26.32%	24.66%	41.29%	24.46%	30.15%	26.46%
Earnings before Interest and Taxes (EBIT)	0.00	0.00	326	274	299	358	419	-147	343	212	451
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	42	34	377	319	392	470	538	-26	466	332	577
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	27.10	118.26	4.69	7.56	6.72	12.73	10.45	16.79	10.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	1.31	1.61	1.02	0.85	0.79	0.55	0.74	0.79	0.58
Price to Earnings (P/E)	0.00	0.00	11.44	30.99	65.26	0.00	16.53	0.00	15.67	59.85	8.76
Dividend Yield	5.86%	2.53%	2.95%	2.39%	3.24%	3.52%	3.43%	5.14%	3.90%	3.78%	4.82%
Earnings Yield	0.00%	0.00%	8.74%	3.23%	1.53%	0.00%	6.05%	0.00%	6.38%	1.67%	11.42%
Enterprise Value to Invested Capital (EV/IC)	3.91	3.54	3.29	4.17	1.71	1.63	1.57	1.45	1.60	1.69	1.45
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1.82	2.10	2.32	1.91	1.85	1.63	1.80	1.83	1.66
Enterprise Value to EBITDA (EV/EBITDA)	61.60	100.48	8.48	11.86	14.77	11.16	10.42	0.00	11.45	15.86	8.48
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	9.78	13.81	19.35	14.65	13.36	0.00	15.55	24.87	10.86
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	14.40	26.99	22.96	21.08	12.90	0.00	16.67	31.82	12.89
Enterprise Value to Operating Cash Flow (EV/OCF)	15.92	17.77	16.19	16.53	38.72	13.92	31.18	4,975.53	13.49	12.27	33.26
Enterprise Value to Free Cash Flow (EV/FCFF)	38.78	0.00	14.35	18.44	0.00	12.22	71.30	189.62	12.59	13.89	34.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-20.31	-42.99	14.86	57.32	6.43	13.43	9.70	26.94	15.91	23.62	20.19
Long-Term Debt to Equity	-20.17	-40.95	13.59	47.07	6.37	10.70	9.37	26.79	15.81	23.51	20.06
Financial Leverage	1.08	-19.10	34.28	16.14	6.56	6.74	9.20	13.42	18.87	17.66	20.23
Leverage Ratio	4.23	-37.18	64.52	45.64	15.18	13.11	16.15	19.70	26.61	25.55	29.11
Compound Leverage Factor	0.00	0.00	54.02	29.23	3.71	2.48	5.94	40.91	13.63	6.49	18.36
Debt to Total Capital	105.18%	102.38%	93.69%	98.29%	86.54%	93.07%	90.65%	96.42%	94.09%	95.94%	95.28%
Short-Term Debt to Total Capital	0.71%	4.87%	8.01%	17.59%	0.83%	18.94%	3.07%	0.50%	0.57%	0.42%	0.62%
Long-Term Debt to Total Capital	104.47%	97.51%	85.69%	80.70%	85.71%	74.13%	87.58%	95.92%	93.52%	95.52%	94.66%
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	-5.18%	-2.38%	6.31%	1.71%	13.46%	6.93%	9.35%	3.58%	5.91%	4.06%	4.72%
Debt to EBITDA	29.20	37.60	3.36	4.41	8.92	8.84	6.42	-137.95	7.20	9.65	5.94
Net Debt to EBITDA	17.19	29.23	2.35	2.77	8.26	6.18	5.97	-129.90	6.72	9.00	5.53
Long-Term Debt to EBITDA	29.00	35.81	3.07	3.62	8.83	7.04	6.20	-137.23	7.16	9.61	5.90
Debt to NOPAT	0.00	0.00	5.70	10.03	13.87	16.70	7.94	-35.95	10.48	19.36	9.03
Net Debt to NOPAT	0.00	0.00	4.00	6.30	12.84	11.67	7.39	-33.85	9.78	18.05	8.41
Long-Term Debt to NOPAT	0.00	0.00	5.22	8.23	13.73	13.30	7.67	-35.76	10.42	19.28	8.97
Altman Z-Score	1.12	1.14	2.79	1.64	1.20	1.05	1.31	0.93	1.38	1.29	1.47
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	2.31	1.67	1.75	1.56	1.91	1.34	1.52	2.28	2.12	1.80	2.11
Quick Ratio	1.41	0.90	1.05	1.00	0.56	0.46	0.56	0.90	1.00	0.80	0.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	66	-314	223	205	-2,233	429	79	26	423	379	142
Operating Cash Flow to CapEx	605.99%	712.87%	0.00%	1,263.54%	272.31%	639.05%	303.55%	1.30%	704.46%	474.17%	175.33%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	4.19	2.08	-9.88	1.48	0.30	0.17	2.53	2.40	0.85
Operating Cash Flow to Interest Expense	0.00	0.00	3.71	2.32	0.66	1.30	0.68	0.01	2.36	2.72	0.88
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	3.75	2.14	0.42	1.10	0.45	-0.48	2.03	2.14	0.38
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.99	0.72	0.58	0.49	0.56	0.64	0.65	0.65	0.66
Accounts Receivable Turnover	0.00	0.00	8.34	7.81	8.74	8.68	10.33	8.54	6.34	6.06	6.98
Inventory Turnover	0.00	0.00	3.12	3.02	3.76	3.39	3.00	2.57	2.58	2.73	2.39
Fixed Asset Turnover	0.00	0.00	9.28	10.48	9.44	0.00	0.00	8.19	8.16	7.76	7.54
Accounts Payable Turnover	0.00	0.00	4.33	4.31	5.65	4.91	4.47	4.92	5.24	4.44	4.12
Days Sales Outstanding (DSO)	0.00	0.00	43.77	46.76	41.75	42.03	35.33	42.76	57.55	60.24	52.26
Days Inventory Outstanding (DIO)	0.00	0.00	117.16	120.85	97.01	107.62	121.62	141.79	141.30	133.80	152.63
Days Payable Outstanding (DPO)	0.00	0.00	84.31	84.61	64.63	74.31	81.72	74.13	69.61	82.30	88.63
Cash Conversion Cycle (CCC)	0.00	0.00	76.62	83.00	74.13	75.34	75.23	110.41	129.24	111.74	116.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	658	973	972	907	3,392	3,211	3,567	3,443	3,340	3,126	3,364
Invested Capital Turnover	0.00	0.00	1.81	1.91	1.16	0.83	0.89	0.87	0.87	0.89	0.91
Increase / (Decrease) in Invested Capital	-66	314	-0.80	-65	2,485	-180	356	-124	-103	-214	238
Enterprise Value (EV)	2,575	3,446	3,193	3,780	5,788	5,239	5,604	4,976	5,331	5,270	4,893
Market Capitalization	1,857	2,444	2,306	2,897	2,552	2,337	2,392	1,663	2,202	2,280	1,699
Book Value per Share	($0.97)	($0.48)	$1.37	$0.41	$7.89	$4.51	$5.20	$1.83	$2.95	$1.89	$2.49
Tangible Book Value per Share	($2.81)	($7.99)	($5.96)	($7.57)	($35.12)	($38.18)	($37.58)	($30.43)	($28.58)	($27.59)	($27.64)
Total Capital	1,160	1,260	1,350	1,429	4,039	4,461	3,806	3,648	3,563	3,343	3,600
Total Debt	1,221	1,290	1,265	1,404	3,495	4,152	3,450	3,518	3,352	3,207	3,430
Total Long-Term Debt	1,212	1,228	1,157	1,153	3,462	3,307	3,333	3,499	3,332	3,193	3,408
Net Debt	718	1,003	887	882	3,237	2,902	3,212	3,313	3,129	2,990	3,194
Capital Expenditures (CapEx)	27	27	-2.00	18	55	59	59	77	56	91	84
Debt-free, Cash-free Net Working Capital (DFCFNWC)	117	131	168	149	743	158	371	705	619	456	670
Debt-free Net Working Capital (DFNWC)	619	418	546	671	1,001	1,408	610	911	843	673	906
Net Working Capital (NWC)	611	356	438	420	968	563	493	892	822	659	884
Net Nonoperating Expense (NNE)	0.00	0.00	20	47	201	342	274	134	179	128	141
Net Nonoperating Obligations (NNO)	718	1,003	887	882	2,848	2,902	3,212	3,313	3,129	2,990	3,194
Total Depreciation and Amortization (D&A)	42	34	50	45	93	112	119	122	123	121	127
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	9.59%	8.29%	29.78%	5.75%	12.29%	23.12%	20.92%	15.81%	22.70%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	31.12%	37.34%	40.14%	51.28%	20.19%	29.85%	28.47%	23.32%	30.70%
Net Working Capital to Revenue	0.00%	0.00%	24.96%	23.36%	38.80%	20.49%	16.32%	29.25%	27.79%	22.83%	29.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$1.56	$0.59	($1.59)	$2.12	($3.37)	$0.00	$0.53	$3.37
Adjusted Weighted Average Basic Shares Outstanding	62.40M	61.74M	60.74M	59.80M	66.40M	68.80M	68.20M	69.90M	0.00	71.80M	70.90M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$1.52	$0.58	($1.58)	$2.11	($3.37)	$0.00	$0.52	$3.32
Adjusted Weighted Average Diluted Shares Outstanding	62.40M	61.74M	60.74M	61.40M	67.30M	69.50M	68.70M	69.90M	0.00	72.70M	72M
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	62.40M	61.74M	60.74M	59.61M	69.18M	137.04M	133.73M	142.58M	0.00	71.92M	68.43M
Normalized Net Operating Profit after Tax (NOPAT)	0.00	0.00	222	140	252	249	291	281	320	244	385
Normalized NOPAT Margin	0.00%	0.00%	12.63%	7.79%	10.11%	9.06%	9.65%	9.23%	10.81%	8.45%	13.03%
Pre Tax Income Margin	0.00%	0.00%	15.57%	9.75%	2.93%	2.47%	5.10%	-10.02%	5.94%	1.86%	9.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	6.15	2.78	1.32	1.23	1.58	-0.93	2.05	1.34	2.70
NOPAT to Interest Expense	0.00	0.00	4.18	1.42	1.12	0.86	1.64	-0.62	1.91	1.05	2.28
EBIT Less CapEx to Interest Expense	0.00	0.00	6.18	2.60	1.08	1.03	1.36	-1.42	1.72	0.77	2.20
NOPAT Less CapEx to Interest Expense	0.00	0.00	4.21	1.24	0.87	0.65	1.42	-1.11	1.58	0.47	1.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	34.29%	74.87%	178.08%	-108.90%	62.21%	-40.17%	61.42%	229.40%	36.44%
Augmented Payout Ratio	0.00%	0.00%	63.82%	149.73%	266.14%	-157.13%	122.06%	-40.17%	61.42%	229.40%	73.97%

This table displays calculated financial ratios and metrics derived from Energizer's official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	68,468,761.00	68,473,485.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	68,468,761.00	68,473,485.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.15	0.58
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.34%	-3.04%	0.29%	-0.67%	2.11%	-0.06%	3.41%	3.36%	6.45%	-2.96%	1.21%
EBITDA Growth	-40.03%	-10.75%	-88.62%	36.56%	22.83%	0.45%	1,909.40%	1.92%	-32.53%	-12.54%	-49.21%
EBIT Growth	-50.54%	-12.65%	-121.47%	51.55%	32.81%	-1.85%	1,169.47%	1.31%	-47.62%	-18.01%	-55.95%
NOPAT Growth	-82.27%	-10.98%	-123.02%	-21.41%	227.56%	-7.14%	1,301.35%	-14.55%	-44.86%	-34.71%	-62.52%
Net Income Growth	-96.12%	-20.78%	-237.74%	153.19%	1,073.68%	-12.65%	450.46%	-26.68%	-115.25%	-64.31%	-74.01%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	10.62%	-25.20%	-46.81%	70.78%	-56.77%	-134.78%	-53.28%	-63.59%	94.16%	86.72%	-61.68%
Free Cash Flow Firm Growth	104.16%	-67.40%	-77.87%	43.10%	58.50%	-0.53%	13.08%	-157.69%	-170.43%	-165.99%	-114.83%
Invested Capital Growth	-3.64%	-3.29%	-4.62%	-6.40%	-5.26%	-3.52%	1.07%	7.61%	5.79%	4.97%	2.94%
Revenue Q/Q Growth	-11.65%	-7.44%	5.74%	14.87%	-9.18%	-9.40%	9.41%	14.82%	-6.47%	-17.41%	14.11%
EBITDA Q/Q Growth	-14.35%	36.97%	-88.32%	896.12%	-22.96%	11.62%	112.76%	-43.60%	-49.62%	37.87%	29.64%
EBIT Q/Q Growth	-21.43%	61.07%	-121.84%	648.31%	-31.15%	18.45%	155.28%	-50.54%	-64.98%	73.30%	46.72%
NOPAT Q/Q Growth	-86.19%	372.57%	-124.01%	601.75%	-42.46%	33.96%	210.60%	-64.31%	-62.87%	58.63%	78.30%
Net Income Q/Q Growth	-89.89%	1,605.26%	-235.19%	208.68%	-53.15%	26.91%	442.40%	-77.26%	-109.74%	397.06%	295.05%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	80.08%	-79.34%	24.46%	268.78%	-54.41%	-116.62%	267.19%	187.38%	143.09%	-101.14%	582.35%
Free Cash Flow Firm Q/Q Growth	-33.38%	29.99%	-21.74%	111.14%	-26.21%	-18.43%	-11.03%	-207.71%	9.90%	23.58%	80.01%
Invested Capital Q/Q Growth	-2.79%	0.79%	-2.09%	-2.43%	-1.61%	2.64%	2.57%	3.89%	-3.27%	1.85%	0.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.26%	38.19%	39.52%	38.08%	36.85%	39.07%	55.11%	36.55%	32.94%	40.23%	38.22%
EBITDA Margin	11.25%	16.64%	1.84%	15.95%	13.53%	16.67%	32.41%	15.92%	8.58%	14.32%	16.26%
Operating Margin	9.71%	13.12%	-3.25%	12.42%	8.50%	11.98%	28.28%	12.57%	4.66%	13.46%	12.22%
EBIT Margin	7.06%	12.29%	-2.54%	12.11%	9.18%	12.01%	28.02%	12.07%	4.52%	9.48%	12.19%
Profit (Net Income) Margin	0.27%	4.88%	-6.24%	5.91%	3.05%	4.27%	21.16%	4.19%	-0.44%	1.57%	5.44%
Tax Burden Percent	20.21%	76.42%	76.17%	80.00%	74.09%	77.75%	93.48%	65.36%	70.83%	46.54%	80.12%
Interest Burden Percent	18.58%	52.02%	323.03%	60.96%	44.79%	45.73%	80.81%	53.13%	-13.64%	35.57%	55.64%
Effective Tax Rate	79.79%	23.58%	0.00%	20.00%	25.91%	22.25%	6.52%	34.64%	0.00%	53.46%	19.88%
Return on Invested Capital (ROIC)	1.73%	0.00%	0.00%	8.88%	5.78%	8.41%	24.01%	7.48%	3.09%	5.77%	8.91%
ROIC Less NNEP Spread (ROIC-NNEP)	1.34%	0.00%	0.00%	7.81%	4.99%	7.31%	22.77%	6.39%	2.14%	4.79%	7.87%
Return on Net Nonoperating Assets (RNNOA)	28.12%	0.00%	0.00%	138.00%	96.40%	137.22%	455.54%	129.31%	45.90%	96.17%	126.01%
Return on Equity (ROE)	29.85%	0.00%	0.00%	146.88%	102.18%	145.62%	479.55%	136.79%	48.99%	101.94%	134.92%
Cash Return on Invested Capital (CROIC)	12.19%	3.34%	4.73%	11.73%	11.03%	8.99%	10.96%	4.37%	5.88%	6.27%	3.66%
Operating Return on Assets (OROA)	4.57%	0.00%	0.00%	7.90%	6.16%	8.20%	18.72%	8.01%	3.13%	6.56%	8.11%
Return on Assets (ROA)	0.17%	0.00%	0.00%	3.85%	2.04%	2.92%	14.14%	2.78%	-0.30%	1.09%	3.62%
Return on Common Equity (ROCE)	29.85%	0.00%	0.00%	146.88%	102.18%	145.62%	479.55%	136.79%	48.99%	101.94%	134.92%
Return on Equity Simple (ROE_SIMPLE)	54.75%	0.00%	0.00%	0.00%	41.61%	40.63%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	14	66	-16	80	46	62	192	68	25	40	72
NOPAT Margin	1.96%	10.02%	-2.28%	9.94%	6.30%	9.31%	26.44%	8.22%	3.26%	6.27%	9.79%
Net Nonoperating Expense Percent (NNEP)	0.39%	1.08%	0.89%	1.06%	0.79%	1.10%	1.25%	1.08%	0.95%	0.98%	1.03%
Return On Investment Capital (ROIC_SIMPLE)	0.40%	-	-	-	1.41%	1.87%	5.62%	1.90%	0.73%	1.16%	2.05%
Cost of Revenue to Revenue	62.74%	61.81%	60.48%	61.92%	63.15%	60.93%	44.89%	63.45%	67.06%	59.77%	61.78%
SG&A Expenses to Revenue	17.88%	18.47%	18.48%	18.13%	17.94%	20.52%	17.69%	16.43%	19.17%	20.69%	17.61%
R&D to Revenue	1.09%	1.19%	1.06%	1.06%	1.09%	1.22%	1.13%	1.00%	1.00%	1.18%	1.01%
Operating Expenses to Revenue	27.55%	25.07%	42.77%	25.65%	28.35%	27.09%	26.83%	23.98%	28.28%	26.77%	26.00%
Earnings before Interest and Taxes (EBIT)	51	82	-18	98	67	80	203	101	35	61	90
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	81	110	13	129	99	111	235	133	67	92	119
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	12.78	10.83	17.01	16.79	17.85	16.13	7.94	10.00	9.63	6.49	7.22
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.75	0.00	0.00	0.79	0.86	0.74	0.50	0.58	0.45	0.38	0.49
Price to Earnings (P/E)	23.35	0.00	0.00	59.85	42.89	39.71	5.78	8.76	8.09	7.49	40.22
Dividend Yield	3.93%	4.16%	4.10%	3.78%	3.44%	4.01%	5.95%	4.82%	6.03%	7.31%	5.60%
Earnings Yield	4.28%	0.00%	0.00%	1.67%	2.33%	2.52%	17.29%	11.42%	12.37%	13.35%	2.49%
Enterprise Value to Invested Capital (EV/IC)	1.62	1.57	1.62	1.69	1.77	1.64	1.39	1.45	1.37	1.29	1.38
Enterprise Value to Revenue (EV/Rev)	1.81	0.00	0.00	1.83	1.88	1.79	1.54	1.66	1.49	1.43	1.54
Enterprise Value to EBITDA (EV/EBITDA)	12.77	0.00	0.00	15.86	15.52	14.75	7.85	8.48	8.21	8.02	11.05
Enterprise Value to EBIT (EV/EBIT)	18.05	0.00	0.00	24.87	23.83	22.83	10.04	10.86	10.69	10.53	15.78
Enterprise Value to NOPAT (EV/NOPAT)	18.75	0.00	0.00	31.82	30.61	29.81	11.64	12.89	12.28	11.85	21.36
Enterprise Value to Operating Cash Flow (EV/OCF)	12.75	0.00	0.00	12.27	16.57	18.58	17.72	33.26	20.37	18.49	21.14
Enterprise Value to Free Cash Flow (EV/FCFF)	13.04	46.29	33.40	13.89	15.62	17.94	12.77	34.50	24.04	21.01	38.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	19.45	16.93	26.15	23.62	22.27	23.62	17.61	20.19	23.55	19.13	16.26
Long-Term Debt to Equity	19.36	16.86	26.04	23.51	22.17	23.56	17.57	20.06	23.49	19.08	16.22
Financial Leverage	20.95	18.59	21.61	17.66	19.32	18.77	20.01	20.23	21.45	20.07	16.01
Leverage Ratio	29.87	25.68	30.13	25.55	27.81	26.13	28.56	29.11	30.77	28.04	23.25
Compound Leverage Factor	5.55	13.36	97.33	15.57	12.46	11.95	23.08	15.47	-4.20	9.97	12.93
Debt to Total Capital	95.11%	94.42%	96.32%	95.94%	95.70%	95.94%	94.63%	95.28%	95.93%	95.03%	94.21%
Short-Term Debt to Total Capital	0.41%	0.38%	0.41%	0.42%	0.42%	0.23%	0.22%	0.62%	0.25%	0.25%	0.25%
Long-Term Debt to Total Capital	94.70%	94.04%	95.91%	95.52%	95.28%	95.71%	94.40%	94.66%	95.68%	94.79%	93.96%
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	4.89%	5.58%	3.68%	4.06%	4.30%	4.06%	5.37%	4.72%	4.07%	4.97%	5.79%
Debt to EBITDA	8.06	0.00	0.00	9.65	8.93	9.00	5.61	5.94	6.11	6.23	7.94
Net Debt to EBITDA	7.47	0.00	0.00	9.00	8.37	8.61	5.32	5.53	5.71	5.91	7.52
Long-Term Debt to EBITDA	8.02	0.00	0.00	9.61	8.89	8.98	5.60	5.90	6.09	6.21	7.92
Debt to NOPAT	11.83	0.00	0.00	19.36	17.60	18.19	8.32	9.03	9.14	9.20	15.34
Net Debt to NOPAT	10.97	0.00	0.00	18.05	16.50	17.39	7.88	8.41	8.55	8.72	14.54
Long-Term Debt to NOPAT	11.78	0.00	0.00	19.28	17.53	18.15	8.31	8.97	9.11	9.18	15.30
Altman Z-Score	1.15	0.52	0.43	1.21	1.25	1.23	1.21	1.21	1.12	1.11	1.19
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	2.03	2.03	1.99	1.80	1.80	1.86	1.78	2.11	1.99	2.05	2.07
Quick Ratio	0.85	0.74	0.74	0.80	0.70	0.59	0.54	0.81	0.75	0.66	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	137	178	139	294	217	177	157	-169	-153	-117	-23
Operating Cash Flow to CapEx	698.43%	138.87%	336.76%	675.60%	222.54%	-60.95%	158.52%	415.54%	590.91%	-9.60%	90.11%
Free Cash Flow to Firm to Interest Expense	3.32	4.59	3.64	7.34	5.84	4.09	4.03	-3.56	-3.82	-2.97	-0.59
Operating Cash Flow to Interest Expense	4.32	0.95	1.20	4.22	2.08	-0.30	0.55	1.29	3.74	-0.04	0.21
Operating Cash Flow Less CapEx to Interest Expense	3.70	0.27	0.84	3.60	1.14	-0.78	0.20	0.98	3.11	-0.49	-0.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.00	0.00	0.65	0.67	0.68	0.67	0.66	0.69	0.69	0.67
Accounts Receivable Turnover	7.86	0.00	0.00	6.06	7.99	9.08	8.45	6.98	8.30	9.70	8.66
Inventory Turnover	2.61	0.00	0.00	2.73	2.75	2.53	2.17	2.39	2.57	2.36	2.33
Fixed Asset Turnover	7.89	0.00	0.00	7.76	7.55	7.52	7.61	7.54	7.45	7.66	7.68
Accounts Payable Turnover	5.00	0.00	0.00	4.44	4.43	4.60	4.19	4.12	4.22	4.35	4.55
Days Sales Outstanding (DSO)	46.43	0.00	0.00	60.24	45.66	40.19	43.20	52.26	43.95	37.64	42.16
Days Inventory Outstanding (DIO)	140.03	0.00	0.00	133.80	132.90	144.31	168.07	152.63	142.23	154.66	156.33
Days Payable Outstanding (DPO)	72.99	0.00	0.00	82.30	82.41	79.38	87.05	88.63	86.55	83.91	80.14
Cash Conversion Cycle (CCC)	113.47	0.00	0.00	111.74	96.16	105.12	124.23	116.26	99.63	108.39	118.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,246	3,272	3,204	3,126	3,076	3,157	3,238	3,364	3,254	3,314	3,333
Invested Capital Turnover	0.88	0.00	0.00	0.89	0.92	0.90	0.91	0.91	0.95	0.92	0.91
Increase / (Decrease) in Invested Capital	-123	-111	-155	-214	-171	-115	34	238	178	157	95
Enterprise Value (EV)	5,257	5,152	5,180	5,270	5,444	5,183	4,510	4,893	4,474	4,265	4,598
Market Capitalization	2,181	2,072	2,099	2,280	2,509	2,160	1,455	1,699	1,361	1,124	1,468
Book Value per Share	$2.39	$2.67	$1.72	$1.89	$1.96	$1.85	$2.54	$2.49	$2.06	$2.53	$2.97
Tangible Book Value per Share	($29.06)	($28.42)	($27.81)	($27.59)	($27.04)	($26.93)	($26.22)	($27.64)	($27.79)	($27.08)	($26.46)
Total Capital	3,488	3,430	3,350	3,343	3,272	3,296	3,409	3,600	3,469	3,486	3,507
Total Debt	3,318	3,239	3,227	3,207	3,131	3,162	3,226	3,430	3,327	3,313	3,304
Total Long-Term Debt	3,303	3,226	3,213	3,193	3,117	3,155	3,218	3,408	3,319	3,305	3,295
Net Debt	3,076	3,081	3,080	2,990	2,935	3,023	3,055	3,194	3,113	3,141	3,130
Capital Expenditures (CapEx)	26	27	14	25	35	21	14	15	25	18	9.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	519	545	560	456	441	514	555	670	572	604	663
Debt-free Net Working Capital (DFNWC)	761	703	706	673	637	653	726	906	787	776	836
Net Working Capital (NWC)	747	690	693	659	623	645	718	884	779	768	828
Net Nonoperating Expense (NNE)	12	34	28	32	24	33	38	34	29	30	32
Net Nonoperating Obligations (NNO)	3,076	3,081	3,080	2,990	2,935	3,023	3,055	3,194	3,113	3,141	3,130
Total Depreciation and Amortization (D&A)	30	29	31	31	32	31	32	32	32	31	30
Debt-free, Cash-free Net Working Capital to Revenue	17.83%	0.00%	0.00%	15.81%	15.18%	17.70%	18.96%	22.70%	19.08%	20.25%	22.17%
Debt-free Net Working Capital to Revenue	26.13%	0.00%	0.00%	23.32%	21.93%	22.50%	24.81%	30.70%	26.24%	26.04%	27.98%
Net Working Capital to Revenue	25.65%	0.00%	0.00%	22.83%	21.46%	22.24%	24.55%	29.94%	25.95%	25.75%	27.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.61)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	71.70M	71.80M	71.80M	71.80M	72M	72.20M	71.20M	70.90M	68.40M	68.50M	68.50M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.61)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	72.60M	72.60M	71.80M	72.70M	73.20M	73.30M	72.10M	72M	68.40M	69.10M	69.20M
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	71.78M	71.79M	143.59M	71.92M	72.19M	72.19M	68.27M	68.43M	68.47M	68.47M	68.48M
Normalized Net Operating Profit after Tax (NOPAT)	49	66	61	80	46	62	192	68	25	61	72
Normalized NOPAT Margin	6.80%	10.02%	8.76%	9.94%	6.30%	9.31%	26.44%	8.22%	3.26%	9.42%	9.79%
Pre Tax Income Margin	1.31%	6.39%	-8.20%	7.38%	4.11%	5.49%	22.64%	6.41%	-0.62%	3.37%	6.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.23	2.11	-0.47	2.44	1.81	1.84	5.21	2.11	0.88	1.55	2.25
NOPAT to Interest Expense	0.34	1.72	-0.42	2.00	1.24	1.43	4.92	1.44	0.64	1.03	1.81
EBIT Less CapEx to Interest Expense	0.61	1.42	-0.82	1.82	0.88	1.36	4.86	1.80	0.25	1.10	2.03
NOPAT Less CapEx to Interest Expense	-0.28	1.03	-0.77	1.38	0.31	0.94	4.57	1.13	0.00	0.58	1.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	93.36%	0.00%	0.00%	229.40%	150.94%	162.68%	35.04%	36.44%	40.69%	43.93%	104.29%
Augmented Payout Ratio	93.36%	0.00%	0.00%	229.40%	150.94%	162.68%	35.04%	73.97%	84.86%	92.67%	144.17%

Financials Breakdown Chart

Key Financial Trends

Energizer’s Q3 fiscal 2026 results show a meaningful sequential recovery, but the company remains highly leveraged and earnings are still below stronger periods from prior years. Revenue increased to $734.1 million from $643.3 million in Q2, while gross profit rose to $280.6 million from $258.8 million. Operating income improved modestly to $89.7 million from $86.6 million, and net income increased to $39.9 million from $10.1 million.

Over the longer comparison period, Q3 revenue has generally trended higher—from $699.4 million in fiscal 2023 and $701.4 million in fiscal 2024 to $734.1 million in fiscal 2026. However, comparisons are affected by restated results and unusual charges, including a $110.6 million impairment charge in Q3 fiscal 2024. Q3 fiscal 2025 also shows an unusually high gross margin in the supplied data, so investors should use caution when comparing margins across years.

Sequential earnings recovery: Net income rose nearly fourfold from $10.1 million in Q2 fiscal 2026 to $39.9 million in Q3, while operating income remained positive.
Improved revenue momentum: Q3 revenue increased approximately 14% from Q2 and was modestly above the restated Q3 fiscal 2025 level of $725.3 million.
Gross margin remained solid sequentially: Gross profit increased 8.4% from Q2, producing a gross margin of approximately 38.2% in Q3.
Working-capital position improved over the prior year: Inventory declined to $747.8 million from $870.1 million in Q3 fiscal 2025, reducing some inventory-related cash pressure.
Operating cash flow turned positive: Cash flow from operations improved from an outflow of $1.7 million in Q2 to an inflow of $8.2 million in Q3, while capital spending declined to $9.1 million from $17.7 million.
Cash balances were stable: Cash and equivalents were $173.4 million at June 30, compared with $172.5 million at the end of Q2, and the company reported a small $0.9 million increase in cash during the quarter.
Dividend remained unchanged: The quarterly dividend was $0.30 per share, with approximately $20.6 million paid during Q3. Continued payments support income-oriented investors, although dividend coverage should be monitored against uneven cash flow.
Large interest burden: Interest expense was $39.7 million in Q3, consuming roughly 44% of operating income and limiting the conversion of operating profits into net income.
High leverage remains the central risk: Long-term debt was $3.295 billion and total liabilities were $4.263 billion, compared with only $203.2 million of common equity. Total debt has also risen from approximately $3.227 billion in Q3 fiscal 2024.
Weak balance-sheet cushion: Goodwill and intangible assets totaled approximately $2.015 billion, while shareholders’ equity has fallen from $499.7 million in Q3 fiscal 2022 to $203.2 million in Q3 fiscal 2026. This leaves the company more exposed to future impairments or operating setbacks.

For investors, the key question is whether Energizer can sustain the Q3 improvement while generating substantially stronger operating cash flow. The company’s stable consumer-products revenue and ongoing dividend are supportive, but high debt, interest costs, limited equity and inconsistent quarterly cash generation continue to make ENR a higher-risk income investment.

09/22/26 04:52 AM ETAI Generated. May Contain Errors.

Energizer Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Energizer's financial year ends in September. Their financial year 2025 ended on September 30, 2025.

Energizer's net income appears to be on an upward trend, with a most recent value of $239 million in 2025, rising from $0.00 in 2015. The previous period was $38.10 million in 2024. Find out what analysts predict for Energizer in the coming months.

Energizer's total operating income in 2025 was $451.40 million, based on the following breakdown:

Total Gross Profit: $1.23 billion
Total Operating Expenses: $781.30 million

Over the last 10 years, Energizer's total revenue changed from $0.00 in 2015 to $2.95 billion in 2025, a change of 295,270,000,000.0%.

Energizer's total liabilities were at $4.39 billion at the end of 2025, a 4.3% increase from 2024, and a 161.3% increase since 2015.

In the past 10 years, Energizer's cash and equivalents has ranged from $205.30 million in 2022 to $522.10 million in 2018, and is currently $236.20 million as of their latest financial filing in 2025.

Over the last 10 years, Energizer's book value per share changed from -0.97 in 2015 to 2.49 in 2025, a change of -357.5%.

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Financial statements for NYSE:ENR last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Energizer (ENR) Financials

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Energizer (ENR) Financials

Annual Income Statements for Energizer

Quarterly Income Statements for Energizer

Annual Cash Flow Statements for Energizer

Quarterly Cash Flow Statements for Energizer

Annual Balance Sheets for Energizer

Quarterly Balance Sheets for Energizer

Annual Metrics And Ratios for Energizer

Quarterly Metrics And Ratios for Energizer

Financials Breakdown Chart

Key Financial Trends

Energizer Financials - Frequently Asked Questions

When does Energizer's fiscal year end?

How has Energizer's net income changed over the last 10 years?

What is Energizer's operating income?

How has Energizer's revenue changed over the last 10 years?

How much debt does Energizer have?

How much cash does Energizer have?

How has Energizer's book value per share changed over the last 10 years?

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