Revenue growth has remained negative for ten consecutive quarters, with the most recent period showing a 3.3% year-over-year contraction alongside a net margin of -11.8%.
| Metric | Feb'26 | Feb'25 | Feb'24 | Feb'23 | Feb'22 | Feb'21 | Feb'20 | Feb'19 | Feb'18 | Feb'17 | Feb'16 | Feb'15 | Feb'14 | Feb'13 | Feb'12 | Feb'11 | Feb'10 | Feb'09 | Feb'08 | Feb'07 | Feb'06 | Feb'05 | Feb'04 | Feb'03 | Feb'02 | Feb'01 | Feb'00 | Feb'99 | Feb'98 | Feb'97 |
|---|
| Sales/Revenue | 1.79B | 1.91B | 2.01B | 2.07B | 2.22B | 2.1B | 1.71B | 1.56B | 1.48B | 1.4B | 1.39B | 1.45B | 1.32B | 1.29B | 1.18B | 777.04M | 647.63M | 622.75M | 652.55M | 634.93M | 589.75M | 581.55M | 474.87M | 458.82M | 451.25M | 361.4M | 299.51M | 294.5M | 248.1M | 213M |
| Revenue Growth % | -6.36% | -4.86% | -3.26% | -6.78% | 5.93% | 22.92% | 9.16% | 5.77% | 5.82% | 0.36% | -3.64% | 9.72% | 2.24% | 9.02% | 52.07% | 19.98% | 4% | -4.57% | 2.77% | 7.66% | 1.41% | 22.47% | 3.5% | 1.68% | 24.86% | 20.66% | 1.7% | 18.7% | 16.48% | 27.47% |
| Cost of Goods Sold | 970.6M | 993.26M | 1.06B | 1.17B | 1.27B | 1.17B | 972.97M | 923.04M | 867.65M | 824.12M | 866.84M | 845.57M | 800.45M | 770.05M | 703.19M | 427.8M | 368.47M | 367.34M | 370.85M | 355.55M | 323.19M | 307.05M | 257.65M | 247.79M | 238.86M | 212.39M | 178.76M | 170.3M | 149.1M | 130.2M |
| COGS % of Revenue | 54.34% | 52.07% | 52.69% | 56.61% | 57.13% | 55.82% | 56.98% | 59.01% | 58.67% | 58.97% | 62.25% | 58.51% | 60.77% | 59.77% | 59.51% | 55.05% | 56.9% | 58.99% | 56.83% | 56% | 54.8% | 52.8% | 54.26% | 54.01% | 52.93% | 58.77% | 59.68% | 57.83% | 60.1% | 61.13% |
| Gross Profit | 815.69M | 914.41M | 948.66M | 899.35M | 953.19M | 927.3M | 734.47M | 641.11M | 611.2M | 573.42M | 525.73M | 599.56M | 516.7M | 518.21M | 478.48M | 349.25M | 279.16M | 255.4M | 281.69M | 279.38M | 266.56M | 274.5M | 217.22M | 211.03M | 212.39M | 149M | 120.75M | 124.2M | 99M | 82.8M |
| Gross Margin % | 45.66% | 47.93% | 47.31% | 43.39% | 42.87% | 44.18% | 43.02% | 40.99% | 41.33% | 41.03% | 37.75% | 41.49% | 39.23% | 40.23% | 40.49% | 44.95% | 43.1% | 41.01% | 43.17% | 44% | 45.2% | 47.2% | 45.74% | 45.99% | 47.07% | 41.23% | 40.32% | 42.17% | 39.9% | 38.87% |
| Gross Profit Growth % | -10.8% | -3.61% | 5.48% | -5.65% | 2.79% | 26.26% | 14.56% | 4.89% | 6.59% | 9.07% | -12.31% | 16.04% | -0.29% | 8.3% | 37% | 25.11% | 9.3% | -9.33% | 0.83% | 4.81% | -2.89% | 26.37% | 2.93% | -0.64% | 42.54% | 23.4% | -2.78% | 25.45% | 19.57% | 23.58% |
| Operating Expenses | 708.91M | 771.66M | 688.07M | 687.56M | 680.64M | 645.81M | 556.22M | 441.73M | 442.14M | 403.75M | 409.44M | 437.84M | 399.6M | 369.42M | 339.1M | 235.34M | 188.89M | 188.34M | 207.77M | 208.96M | 195.18M | 172.48M | 131.44M | 158.17M | 170.73M | 118.31M | 111.33M | 87.9M | 68.9M | 60.1M |
| OpEx % of Revenue | 39.69% | 40.45% | 34.32% | 33.17% | 30.61% | 30.77% | 32.58% | 28.24% | 29.9% | 28.89% | 29.4% | 30.3% | 30.34% | 28.68% | 28.7% | 30.29% | 29.17% | 30.24% | 31.84% | 32.91% | 33.1% | 29.66% | 27.68% | 34.47% | 37.84% | 32.74% | 37.17% | 29.85% | 27.77% | 28.22% |
| Selling, General & Admin | 708.91M | 622.65M | 621.74M | 595.9M | 611.03M | 569.71M | 484.5M | 414.84M | 374.58M | 356.46M | 368.01M | 428.84M | 369.33M | 369.44M | 339.1M | 235.34M | 188.89M | 188.34M | 207.77M | 208.96M | 195.18M | 172.48M | 131.44M | 158.17M | 170.73M | 118.31M | 104.41M | 82.9M | 64.9M | 57.4M |
| SG&A % of Revenue | 39.69% | 32.64% | 31.01% | 28.75% | 27.48% | 27.14% | 28.38% | 26.52% | 25.33% | 25.51% | 26.43% | 29.67% | 28.04% | 28.68% | 28.7% | 30.29% | 29.17% | 30.24% | 31.84% | 32.91% | 33.1% | 29.66% | 27.68% | 34.47% | 37.84% | 32.74% | 34.86% | 28.15% | 26.16% | 26.95% |
| Research & Development | 0 | 53.9M | 56.5M | 47.8M | 54M | 53.4M | 17.8M | 13M | 13.5M | 11.8M | 10M | 7.4M | 2.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 2.83% | 2.82% | 2.31% | 2.43% | 2.54% | 1.04% | 0.83% | 0.91% | 0.84% | 0.72% | 0.51% | 0.22% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 95.11M | 9.84M | 43.86M | 15.6M | 22.7M | 53.91M | 13.89M | 54.05M | 35.49M | 29.83M | 1.6M | 27.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.92M | 5M | 4M | 2.7M |
| Operating Income | 106.78M | 142.75M | 260.59M | 211.79M | 272.55M | 281.49M | 178.25M | 199.38M | 169.06M | 169.66M | 116.29M | 161.72M | 117.1M | 148.77M | 139.39M | 111.74M | 89.37M | 67.06M | 73.92M | 70.42M | 71.38M | 102.02M | 85.77M | 52.86M | 41.66M | 22.56M | 9.42M | 36.3M | 30.1M | 22.7M |
| Operating Margin % | 5.98% | 7.48% | 13% | 10.22% | 12.26% | 13.41% | 10.44% | 12.75% | 11.43% | 12.14% | 8.35% | 11.19% | 8.89% | 11.55% | 11.8% | 14.38% | 13.8% | 10.77% | 11.33% | 11.09% | 12.1% | 17.54% | 18.06% | 11.52% | 9.23% | 6.24% | 3.14% | 12.33% | 12.13% | 10.66% |
| Operating Income Growth % | -25.19% | -45.22% | 23.04% | -22.29% | -3.18% | 57.92% | -10.6% | 17.93% | -0.35% | 45.89% | -28.09% | 38.1% | -21.29% | 6.73% | 24.74% | 25.04% | 33.27% | -9.29% | 4.98% | -1.35% | -30.04% | 18.95% | 62.27% | 26.89% | 84.63% | 139.54% | -74.05% | 20.6% | 32.6% | 30.46% |
| EBITDA | -782.08M | 197.8M | 312.09M | 256.47M | 308.38M | 319.21M | 215.66M | 229.31M | 202.79M | 205.84M | 151.18M | 201.37M | 150.94M | 183.2M | 169.56M | 130.25M | 104.63M | 81.24M | 88.22M | 84.72M | 83.81M | 111.73M | 91.9M | 59.42M | 50.29M | 30.7M | 16.34M | 41.3M | 34.1M | 25.4M |
| EBITDA Margin % | -43.78% | 10.37% | 15.57% | 12.37% | 13.87% | 15.21% | 12.63% | 14.66% | 13.71% | 14.73% | 10.86% | 13.93% | 11.46% | 14.22% | 14.35% | 16.76% | 16.16% | 13.05% | 13.52% | 13.34% | 14.21% | 19.21% | 19.35% | 12.95% | 11.14% | 8.49% | 5.46% | 14.02% | 13.74% | 11.92% |
| EBITDA Growth % | -495.4% | -36.62% | 21.68% | -16.83% | -3.39% | 48.01% | -5.95% | 13.07% | -1.48% | 36.15% | -24.92% | 33.41% | -17.61% | 8.04% | 30.19% | 24.48% | 28.79% | -7.91% | 4.14% | 1.09% | -24.99% | 21.58% | 54.67% | 18.16% | 63.81% | 87.88% | -60.44% | 21.11% | 34.25% | 29.59% |
| D&A (Non-Cash Add-back) | 0 | 55.05M | 51.5M | 44.68M | 35.83M | 37.72M | 37.41M | 29.93M | 33.73M | 36.17M | 34.89M | 39.65M | 33.84M | 34.42M | 30.18M | 18.5M | 15.26M | 14.19M | 14.3M | 14.3M | 12.43M | 9.71M | 6.13M | 6.56M | 8.63M | 8.14M | 6.92M | 5M | 4M | 2.7M |
| EBIT | 106.78M | 213.56M | 249.82M | 242.25M | 275.05M | 290.89M | 220.36M | 201.66M | 193.06M | 173.53M | 146.13M | 170.72M | 147.38M | 148.77M | 133.76M | 105.9M | 83.57M | -37.78M | 76.3M | 70.42M | 71.38M | 102.02M | 85.77M | 52.86M | 41.66M | 30.7M | 9.42M | 36.33M | 30.1M | 22.7M |
| Net Interest Income | -57.74M | -51.92M | -53.06M | -40.75M | -12.84M | -12.62M | -12.71M | -11.72M | -13.97M | -14.45M | -10.59M | -15.02M | -10.19M | -9.69M | -8.49M | -3.7M | -3.8M | -13.69M | -15.03M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 504K | 0 | 0 | 70K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 57.74M | 51.92M | 53.06M | 40.75M | 12.84M | 12.62M | 12.71M | 11.72M | 13.95M | 14.86M | 11.1M | 15.02M | 10.19M | 9.76M | 12.92M | 9.69M | 10.31M | 13.69M | 15.03M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -945.62M | -51.08M | -51.55M | -40.5M | -12.58M | -12.06M | -12.31M | -11.38M | -13.62M | -13.95M | -10.28M | -14.51M | -9.97M | -13.26M | -13.29M | -9.12M | -9.26M | -11.25M | -12.65M | -15.27M | -15.58M | -12.45M | 265K | -2.11M | -3.11M | -1.67M | 3.68M | -919K | -1.28M | -500K |
| Pretax Income | -838.84M | 91.66M | 209.04M | 171.29M | 259.97M | 269.43M | 165.94M | 188M | 155.44M | 155.72M | 106.01M | 147.21M | 107.13M | 135.51M | 126.09M | 102.63M | 80.11M | -51.47M | 61.27M | 55.15M | 55.8M | 89.58M | 86.04M | 50.75M | 38.55M | 20.89M | 13.1M | 35.4M | 28.8M | 22.2M |
| Pretax Margin % | -46.96% | 4.81% | 10.43% | 8.26% | 11.69% | 12.84% | 9.72% | 12.02% | 10.51% | 11.14% | 7.61% | 10.19% | 8.13% | 10.52% | 10.67% | 13.21% | 12.37% | -8.26% | 9.39% | 8.69% | 9.46% | 15.4% | 18.12% | 11.06% | 8.54% | 5.78% | 4.37% | 12.02% | 11.61% | 10.42% |
| Income Tax | 60.14M | -32.09M | 40.45M | 28.02M | 36.2M | 15.48M | 13.61M | 13.78M | 26.56M | 9.2M | 18.59M | 16.05M | 20.89M | 19.85M | 15.72M | 9.32M | 8.29M | 5.33M | -236K | 5.06M | 6.49M | 12.91M | 14.48M | 12.03M | 9.33M | 3.56M | -14K | 7.1M | 6.5M | 5M |
| Effective Tax Rate % | -7.17% | -35.01% | 19.35% | 16.36% | 13.93% | 5.75% | 8.2% | 7.33% | 17.08% | 5.91% | 17.54% | 10.9% | 19.5% | 14.65% | 12.47% | 9.08% | 10.35% | -10.35% | -0.39% | 9.18% | 11.63% | 14.41% | 16.83% | 23.71% | 24.21% | 17.03% | -0.11% | 20.06% | 22.57% | 22.52% |
| Net Income | -898.98M | 123.75M | 168.59M | 143.27M | 223.76M | 253.95M | 152.33M | 168.54M | 44.45M | 140.69M | 101.23M | 131.16M | 86.25M | 115.67M | 110.37M | 93.31M | 71.82M | -56.79M | 61.51M | 50.09M | 49.31M | 76.45M | 60.52M | 38.72M | 29.21M | 17.33M | 13.11M | 28.3M | 22.3M | 17.2M |
| Net Margin % | -50.33% | 6.49% | 8.41% | 6.91% | 10.06% | 12.1% | 8.92% | 10.78% | 3.01% | 10.07% | 7.27% | 9.08% | 6.55% | 8.98% | 9.34% | 12.01% | 11.09% | -9.12% | 9.43% | 7.89% | 8.36% | 13.15% | 12.75% | 8.44% | 6.47% | 4.8% | 4.38% | 9.61% | 8.99% | 8.08% |
| Net Income Growth % | -826.44% | -26.6% | 17.67% | -35.97% | -11.89% | 66.7% | -9.62% | 279.21% | -68.41% | 38.98% | -22.82% | 52.08% | -25.43% | 4.79% | 18.29% | 29.92% | 226.45% | -192.33% | 22.8% | 1.58% | -35.5% | 26.32% | 56.32% | 32.52% | 68.56% | 32.19% | -53.67% | 26.91% | 29.65% | 31.3% |
| Net Income (Continuing) | -898.98M | 123.75M | 168.59M | 143.27M | 223.76M | 253.95M | 152.33M | 174.22M | 128.88M | 144.31M | 92.99M | 131.16M | 86.25M | 115.67M | 110.37M | 93.31M | 71.82M | -56.79M | 61.51M | 50.09M | 49.31M | 76.67M | 71.56M | 38.72M | 29.21M | 17.33M | 13.11M | 28.33M | 22.33M | 17.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -39.08 | 5.37 | 7.03 | 5.95 | 9.17 | 10.08 | 6.02 | 6.62 | 4.73 | 5.17 | 3.23 | 4.52 | 2.66 | 3.62 | 3.48 | 2.98 | 2.32 | -1.88 | 1.93 | 1.58 | 1.56 | 2.35 | 1.94 | 1.31 | 1.00 | 0.60 | 0.44 | 0.96 | 0.77 | 0.62 |
| EPS Growth % | -827.75% | -23.61% | 18.15% | -35.11% | -9.03% | 67.44% | -9.06% | 39.96% | -8.51% | 60.06% | -28.54% | 69.92% | -26.52% | 4.02% | 16.78% | 28.45% | 223.4% | -197.41% | 22.15% | 1.28% | -33.62% | 21.13% | 48.09% | 31% | 66.67% | 36.36% | -54.17% | 24.68% | 24.19% | 26.53% |
| EPS (Basic) | -39.08 | 5.38 | 7.06 | 5.98 | 9.27 | 10.16 | 6.06 | 6.68 | 4.76 | 5.24 | 3.29 | 4.59 | 2.69 | 3.64 | 3.52 | 3.04 | 2.38 | -1.88 | 2.01 | 1.66 | 1.65 | 2.57 | 2.13 | 1.37 | 1.04 | 0.61 | 0.45 | 1.00 | 0.83 | 0.66 |
| Diluted Shares Outstanding | 23M | 23.07M | 23.97M | 24.09M | 24.41M | 25.2M | 25.32M | 26.3M | 27.25M | 27.89M | 28.75M | 29.04M | 32.39M | 31.94M | 31.7M | 31.36M | 30.92M | 30.17M | 31.8M | 31.72M | 31.61M | 32.59M | 31.26M | 29.55M | 29.2M | 28.73M | 29.89M | 29.6M | 28.85M | 27.74M |
| Basic Shares Outstanding | 23M | 23.04M | 23.98M | 24.08M | 24.4M | 25.19M | 25.32M | 25.46M | 9.4M | 27.21M | 31.34M | 29.02M | 32.42M | 31.95M | 31.34M | 30.67M | 30.22M | 30.17M | 30.53M | 30.12M | 29.92M | 29.71M | 28.36M | 28.19M | 28.09M | 28.42M | 29.05M | 28.28M | 26.86M | 26.06M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent Revenue Contraction Risk
According to the provided quarterly income statements, Helen of Troy has experienced a consistent decline in top-line performance, with revenue growth rates remaining negative for the past ten quarters, culminating in a 3.3% year-over-year contraction in the most recent period ending in 2026Q4.
The persistent negative growth trajectory suggests that the company is struggling to maintain demand for its premium discretionary portfolio in a challenging retail environment. Investors should monitor whether this trend reflects a structural loss of market share to private-label alternatives or merely a cyclical destocking phase at major retail partners.
Based on financial data, the company has maintained a relatively stable gross margin profile, averaging approximately 46% over the last ten quarters, despite significant top-line pressure and the inherent volatility of its asset-light, third-party manufacturing model which relies heavily on fluctuating global freight costs.
The ability to sustain gross margins near 45% suggests that the company retains some pricing power through its design-led differentiation strategy. However, the disconnect between these healthy gross margins and the recent net losses implies that the company's operating cost structure may be too rigid to absorb lower sales volumes.
As reported in recent financial filings, the company's net income has been severely impacted by massive non-operating charges, resulting in a net margin of -50.33% in 2026Q2, which strongly indicates significant impairment of intangible assets or goodwill related to past aggressive acquisition strategies.
These recurring large-scale write-downs suggest that the carrying value of acquired brands may no longer be supported by current cash flow projections. Analysts should treat the reported net income figures with caution, as they appear to be heavily distorted by accounting adjustments rather than core operational performance.
Data from the income statement indicates that SG&A expenses have remained stubbornly high relative to revenue, often exceeding 35% of sales, which suggests that the company's overhead structure is not scaling down in proportion to the recent revenue declines observed over the last two years.
The inability to effectively deleverage SG&A costs during a period of contraction warrants further investigation into the company's fixed cost commitments. This lack of expense discipline appears to be a primary driver of the recent operating income volatility, potentially limiting the company's flexibility to navigate further economic headwinds.
While management emphasizes brand equity, the recent financial performance suggests a potential vulnerability to private-label encroachment, as evidenced by the consistent revenue declines and the inability to maintain positive operating margins in several recent quarters, according to the provided historical income statement data.
Short-sellers may focus on the risk that the company's 'utilitarian-premium' niche is being commoditized by retailers leveraging their own data to launch lower-cost alternatives. If consumers increasingly view these products as replaceable rather than essential tools, the company's long-term ability to command premium pricing may be structurally compromised.
Quick answers to the most common questions about buying HELE stock.
For fiscal year 2026, Helen of Troy Limited (HELE) reported total revenue of $1.79B. This represents a 738.6% increase compared to $213.0M in 1997.
Helen of Troy Limited (HELE) reported a net loss of $899.0M for the fiscal year ending 2026.
Helen of Troy Limited (HELE) reported an operating income of $106.8M, resulting in an operating profit margin of 6.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Helen of Troy Limited (HELE) generated $815.7M in gross profit for the year, representing a gross profit margin of 45.7%. This demonstrates the company's core pricing power and production efficiency.