Friday 6 November 2026
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Energizer Holdings, Inc.
ENR Industrials Electrical Equipment & Parts
Energizer Holdings, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $3.0 billion, up 2.28% from fiscal 2024.
- Revenue
- +1.21%
- EPS
- −73.2%
- Free cash flow
- −111.4%
- Total debt
- +2.40%
Quarter to June 2026, against a year earlier
24.06
0.41
−1.68%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to September
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1,634 | 1,756 | 1,798 | 2,495 | 2,745 | 3,022 | 3,050 | 2,960 | 2,887 | 2,953 | 2,989 | +6.8% | 2,952 | 2,930 | 2,961 | +0.1% | |
| Gross margin, % | 43.59 | 46.21 | 46.22 | 40.24 | 39.42 | 38.44 | 36.70 | 37.98 | 38.25 | 41.75 | 36.81 | (1.8) pt | ||||||
| EBT | 166 | 273 | 175 | 73 | 68 | 154 | (305) | 176 | 54 | 284 | 120 | +6.2% | ||||||
| EBT margin, % | 10.14 | 15.57 | 9.75 | 2.93 | 2.47 | 5.10 | (10.02) | 5.94 | 1.86 | 9.62 | 4.02 | (0.5) pt | ||||||
| Net income | 128 | 202 | 94 | 51 | (93) | 161 | (231) | 141 | 38 | 239 | 82 | +7.2% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 26.40 | 28.46 | 30.06 | 37.57 | 39.90 | 44.30 | 43.64 | 41.39 | 40.21 | 41.65 | 43.64 | +5.2% | |||||
| Earnings | 2.06 | 3.27 | 1.56 | 0.59 | (1.59) | 2.12 | (3.37) | 1.97 | 0.53 | 3.37 | 1.19 | +5.6% | ||||||
| Cash flow | 3.13 | 3.20 | 3.82 | 2.25 | 5.47 | 2.63 | 0.01 | 5.53 | 5.98 | 2.07 | 3.18 | (4.5%) | ||||||
| Capex | (0.44) | 0.03 | (0.30) | (0.83) | (0.86) | (0.87) | (1.31) | (0.78) | (1.26) | (1.18) | (0.96) | +11.6% | ||||||
| Free cash flow | 2.69 | 3.23 | 3.52 | 1.42 | 4.61 | 1.77 | (1.30) | 4.74 | 4.72 | 0.89 | 2.21 | (11.6%) | ||||||
| Book value | (0.48) | 1.38 | 0.41 | 8.19 | 4.49 | 5.22 | 1.87 | 2.95 | 1.89 | 2.40 | 2.97 | n/m | ||||||
| Shares, m | 62 | 62 | 60 | 66 | 69 | 68 | 70 | 72 | 72 | 71 | 69 | +1.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 24.14 | 14.23 | 36.79 | 62.26 | 0.00 | 18.33 | 0.00 | 15.85 | 59.92 | 7.39 | 20.50 | 23.9 | |||||
| P/S | 1.89 | 1.64 | 1.91 | 1.16 | 0.98 | 0.88 | 0.58 | 0.75 | 0.79 | 0.60 | 0.56 | 1.1 | ||||||
| P/B | 0.00 | 33.74 | 140.10 | 5.32 | 8.71 | 7.49 | 13.46 | 10.60 | 16.79 | 10.39 | 8.23 | 24.7 | ||||||
| EV/Sales | 2.32 | 1.98 | 2.16 | 2.45 | 2.04 | 1.91 | 1.66 | 1.81 | 1.82 | 1.67 | 1.61 | 2.0 | ||||||
| EV/FCF | 22.74 | 17.45 | 18.47 | 64.55 | 17.61 | 47.88 | (66.45) | 15.79 | 15.54 | 78.24 | 31.65 | 23.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 194 | 197 | 229 | 150 | 376 | 180 | 1 | 395 | 430 | 147 | 218 | (3.0%) | |||||
| Capex | (27) | 2 | (18) | (55) | (59) | (59) | (92) | (56) | (91) | (84) | (66) | +13.3% | ||||||
| Free cash flow | 167 | 199 | 211 | 95 | 318 | 121 | (91) | 339 | 339 | 63 | 152 | (10.2%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 356 | 438 | 420 | 968 | 563 | 493 | 892 | 822 | 659 | 884 | 828 | +10.6% | |||||
| Net debt | 698 | 605 | 458 | 3,237 | 2,898 | 3,107 | 3,306 | 3,121 | 2,988 | 3,180 | 3,130 | +18.3% | ||||||
| Shareholders’ equity | (30) | 85 | 25 | 544 | 309 | 356 | 131 | 211 | 136 | 170 | 203 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 7.62 | 11.34 | 3.74 | 0.91 | (1.96) | 2.70 | (4.92) | 3.09 | 0.86 | 5.37 | 1.81 | (2.3) pt | |||||
| ROIC | 19.72 | 27.60 | 33.99 | 4.71 | 7.01 | 7.52 | (2.54) | 7.50 | 4.68 | 8.42 | 5.95 | (11.3) pt | ||||||
| ROE | (283.46) | 731.40 | 170.62 | 13.76 | (25.68) | 43.53 | (96.85) | 82.33 | 21.99 | 156.36 | 42.18 | +439.8 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 4,800 | 4,400 | 4,000 | 7,500 | 5,900 | 6,000 | 5,500 | 5,080 | 5,600 | 6,050 | — | +2.6% | |||||
| Revenue/emp, $m | 0.34 | 0.40 | 0.45 | 0.33 | 0.47 | 0.50 | 0.55 | 0.58 | 0.52 | 0.49 | — | +4.1% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Sep 2025 · latest quarter Jun 2026
Energizer Holdings, Inc. vs peers in Electrical Equipment & Parts (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| HAYW Hayward Holdings, Inc. | $3.4B | 20.5× | 22.2× | +6.47% (above 0%: growing) | +38.91% (above 0%: growing) | −51.02% (below 0%: shrinking) | 47.92% | 19.30% | Compare |
| PLUG Plug Power, Inc. | $1.9B | — (loss-making) | — (loss-making) | +2.49% (above 0%: growing) | n/m | +56.89% (above 0%: growing) | (0.94%) | (35.96%) | Compare |
| ENR Energizer Holdings, Inc. | $1.7B | 20.5× | — (loss-making) | +1.21% (above 0%: growing) | −73.15% (below 0%: shrinking) | −111.39% (below 0%: shrinking) | 38.22% | 12.22% | |
| PLPC Preformed Line Products Company | $1.2B | 21.2× | 21.9× | +17.64% (above 0%: growing) | +575.53% (above 0%: growing) | +19.45% (above 0%: growing) | 33.41% | 11.88% | Compare |
| AMPX Amprius Technologies, Inc. | $1.1B | — (loss-making) | — (loss-making) | +125.87% (above 0%: growing) | n/m | +6.24% (above 0%: growing) | 27.27% | (12.63%) | Compare |
| FOIL Londian Wason New Energy Tech Inc. - Sponsored ADR | $977.8M | — | — | — | — | — | — | — | Compare |
| FCEL FuelCell Energy, Inc. | $714.0M | — (loss-making) | — (loss-making) | −29.40% (below 0%: shrinking) | n/m | +45.78% (above 0%: growing) | (74.25%) | (141.39%) | Compare |
| EOSE Eos Energy Enterprises, Inc. | $684.6M | 1.8× | 1.2× | +171.14% (above 0%: growing) | n/m | −27.19% (below 0%: shrinking) | (53.43%) | (95.88%) | Compare |
| TE T1 Energy Inc | $682.9M | — (loss-making) | — (loss-making) | +88.40% (above 0%: growing) | n/m | −1,334.38% (below 0%: shrinking) | 19.63% | (9.11%) | Compare |
| Median of peers | $1.0B | 20.5× | 21.9× | +17.64% | — | +6.24% | 19.63% | (12.63%) |
Pay and ownership Proxy statement filed 12 December 2025
Ownership
Directors and executive officers, together
less than 1%
BlackRock, Inc.
13.80%
The Vanguard Group
13.70%
Aqua Capital, Ltd.Wickhams Cay
10.20%
FMR LLC245 Summer StreetBoston, MA
8.60%
Clarkston Capital Partners, LLC91 West Long Lake RoadBloomfield Hills, MI
6.00%
Fuller & Thaler Asset Management, Inc.411 Borel AvenueSuite
5.70%
The Goldman Sachs Group, Inc.200 West StreetNew York, NY
5.20%
LSV Asset Management155 North Wacker DriveSuite
5.00%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement