Newell Brands Inc.
NWL Consumer Defensive Household & Personal Products
Newell Brands Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, down 4.99% from fiscal 2024. In the quarter to June 2026, revenue grew 3.05%, EPS grew 127.3%, free cash flow grew 84.6% and total debt fell 1.40%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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Newell Brands Inc. (NWL) Altman Z-score
Newell Brands Inc.'s Altman Z-score for fiscal 2025 is 0.40, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.40 | (0.28) |
| FY2024 | 0.67 | 0.06 |
| FY2023 | 0.62 | (0.35) |
| FY2022 | 0.97 | (0.40) |
| FY2021 | 1.37 | 0.59 |
| FY2020 | 0.78 | (0.07) |
| FY2019 | 0.85 | 1.28 |
| FY2018 | −0.43 | (1.72) |
| FY2017 | 1.29 | 0.28 |
| FY2016 | 1.01 | (1.87) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.02 | — | 0.02 | |
| Retained earnings / total assets | (0.30) | — | −0.42 | |
| EBIT / total assets | 0.00 | — | 0.01 | |
| Market value of equity / total liabilities | 0.19 | — | 0.11 | |
| Sales / total assets | 0.67 | — | 0.67 | |
| Altman Z-score | Distress zone | 0.40 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.54 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| IPAR Interparfums, Inc. compare | 6.1× |
| ODD ODDITY Tech Ltd. compare | 3.8× |
| SPB Spectrum Brands Holdings Inc. compare | 2.7× |
| ELF e.l.f. Beauty compare | 2.6× |
| CLX The Clorox Company compare | 2.1× |
| EPC Edgewell Personal Care Company compare | 1.5× |
| NWL Newell Brands Inc. | 0.4× |
| HELE Helen of Troy Limited compare | 0.3× |
| COTY Coty compare | −0.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets