Revenue growth has remained negative for ten consecutive quarters, with gross margins struggling to sustain levels above the 33.1% reported in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 7.19B | 7.2B | 7.58B | 8.13B | 9.46B | 10.59B | 9.38B | 9.71B | 8.63B | 14.74B | 13.26B | 5.92B | 5.73B | 5.69B | 5.9B | 5.86B | 5.76B | 5.58B | 6.47B | 6.41B | 6.2B | 6.34B | 6.75B | 7.75B | 7.45B | 6.91B | 6.93B | 6.41B | 3.72B | 3.23B | 2.87B |
| Revenue Growth % | -4.11% | -4.99% | -6.77% | -14.02% | -10.67% | 12.83% | -3.4% | 12.56% | -41.45% | 11.14% | 124.22% | 3.29% | 0.61% | -3.56% | 0.65% | 1.83% | 3.26% | -13.8% | 0.99% | 3.33% | -2.23% | -6.01% | -12.92% | 3.97% | 7.88% | -0.37% | 8.13% | 72.4% | 15.02% | 12.58% | 14.99% |
| Cost of Goods Sold | 4.75B | 4.77B | 5.03B | 5.69B | 6.63B | 7.23B | 6.31B | 6.48B | 5.62B | 9.65B | 8.87B | 3.61B | 3.52B | 3.51B | 3.67B | 3.66B | 3.59B | 3.53B | 4.35B | 4.15B | 4.13B | 4.45B | 4.86B | 5.68B | 5.39B | 5.05B | 4.86B | 4.45B | 2.46B | 2.06B | 1.85B |
| COGS % of Revenue | - | 66.24% | 66.39% | 70.01% | 70.04% | 68.24% | 67.19% | 66.7% | 65.14% | 65.48% | 66.84% | 61.04% | 61.53% | 61.74% | 62.24% | 62.4% | 62.31% | 63.25% | 67.19% | 64.77% | 66.62% | 70.13% | 71.99% | 73.33% | 72.37% | 73.04% | 70.12% | 69.34% | 66.01% | 63.64% | 64.37% |
| Gross Profit | 2.44B | 2.43B | 2.55B | 2.44B | 2.83B | 3.36B | 3.08B | 3.23B | 3.01B | 5.09B | 4.4B | 2.3B | 2.2B | 2.18B | 2.23B | 2.21B | 2.17B | 2.05B | 2.12B | 2.26B | 2.07B | 1.89B | 1.89B | 2.07B | 2.06B | 1.86B | 2.07B | 1.97B | 1.26B | 1.18B | 1.02B |
| Gross Margin % | 33.98% | 33.76% | 33.61% | 29.99% | 29.96% | 31.76% | 32.81% | 33.3% | 34.86% | 34.52% | 33.16% | 38.96% | 38.47% | 38.26% | 37.76% | 37.6% | 37.69% | 36.75% | 32.81% | 35.23% | 33.38% | 29.87% | 28.01% | 26.67% | 27.63% | 26.96% | 29.88% | 30.66% | 33.99% | 36.36% | 35.63% |
| Gross Profit Growth % | - | -4.55% | 4.47% | -13.94% | -15.73% | 9.22% | -4.82% | 7.52% | -40.88% | 15.7% | 90.87% | 4.59% | 1.16% | -2.28% | 1.08% | 1.58% | 5.92% | -3.47% | -5.94% | 9.04% | 9.27% | 0.21% | -8.55% | 0.36% | 10.57% | -10.11% | 5.39% | 55.49% | 7.53% | 14.87% | 15.74% |
| Operating Expenses | 1.98B | 1.99B | 2.48B | 2.52B | 2.52B | 2.35B | 3.71B | 3.72B | 2.43B | 3.67B | 3.22B | 1.57B | 1.48B | 1.45B | 1.52B | 1.52B | 1.46B | 1.37B | 1.8B | 1.43B | 1.35B | 1.3B | 1.64B | 1.64B | 1.31B | 1.23B | 1.19B | 1.38B | 730.5M | 604.2M | 538M |
| OpEx % of Revenue | - | 27.55% | 32.72% | 31.03% | 26.66% | 22.19% | 39.56% | 38.26% | 28.21% | 24.87% | 24.3% | 26.61% | 25.85% | 25.4% | 25.77% | 25.84% | 25.41% | 24.64% | 27.85% | 22.33% | 21.72% | 20.5% | 24.36% | 21.19% | 17.54% | 17.73% | 17.19% | 21.46% | 19.64% | 18.68% | 18.73% |
| Selling, General & Admin | 1.98B | 1.99B | 2.07B | 1.88B | 2.03B | 2.27B | 2.19B | 2.26B | 2.48B | 3.67B | 3.22B | 1.37B | 1.48B | 1.27B | 1.52B | 1.52B | 1.46B | 1.37B | 1.5B | 1.43B | 1.35B | 1.27B | 1.27B | 1.35B | 1.31B | 1.17B | 899.42M | 1.1B | 583M | 474.3M | 421.6M |
| SG&A % of Revenue | - | 27.55% | 27.3% | 23.07% | 21.47% | 21.48% | 23.32% | 23.3% | 28.73% | 24.87% | 24.3% | 23.21% | 25.85% | 22.36% | 25.77% | 25.84% | 25.41% | 24.64% | 23.22% | 22.33% | 21.72% | 19.95% | 18.82% | 17.46% | 17.54% | 16.91% | 12.97% | 17.22% | 15.67% | 14.66% | 14.68% |
| Research & Development | 0 | 0 | 0 | 117M | 0 | 0 | 0 | 149M | 151M | 158M | 188M | 112.6M | 107.5M | 102.9M | 109.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | 1.44% | - | - | - | 1.53% | 1.75% | 1.07% | 1.42% | 1.9% | 1.88% | 1.81% | 1.86% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 411M | 531M | 491M | 76M | 1.52B | 1.3B | 11.2M | 704.5M | 166.5M | -63.4M | -114.4M | -18.5M | 1M | 0 | 0 | 0 | 299.4M | 0 | 0 | 34.4M | 374M | 289.4M | 0 | 56.96M | 292.58M | 271.7M | 147.5M | 129.9M | 116.4M |
| Operating Income | 460M | 447M | 67M | -85M | 312M | 1.01B | -634M | -482M | -7.83B | 1.23B | 1.1B | 601.4M | 604.7M | 621M | 651.9M | 257.2M | 629.9M | 674.9M | 200.8M | 740.3M | 656.6M | 522.2M | 194.6M | 179.9M | 629.7M | 570.85M | 880.24M | 590M | 534M | 571.7M | 485.7M |
| Operating Margin % | 6.4% | 6.2% | 0.88% | -1.05% | 3.3% | 9.57% | -6.76% | -4.96% | -90.7% | 8.31% | 8.29% | 10.17% | 10.56% | 10.91% | 11.04% | 4.39% | 10.94% | 12.1% | 3.1% | 11.55% | 10.59% | 8.23% | 2.88% | 2.32% | 8.45% | 8.26% | 12.69% | 9.2% | 14.35% | 17.68% | 16.91% |
| Operating Income Growth % | - | 567.16% | 178.82% | -127.24% | -69.2% | 259.78% | -31.54% | 93.84% | -738.7% | 11.42% | 82.92% | -0.55% | -2.62% | -4.74% | 153.46% | -59.17% | -6.67% | 236.11% | -72.88% | 12.75% | 25.74% | 168.35% | 8.17% | -71.43% | 10.31% | -35.15% | 49.19% | 10.49% | -6.59% | 17.71% | 15.81% |
| EBITDA | 696M | 758M | 390M | 249M | 608M | 1.34B | -277M | -36M | -7.46B | 1.58B | 1.54B | 773M | 760.8M | 779.9M | 815.6M | 418.8M | 802.2M | 850M | 384.1M | 917.3M | 849.9M | 736M | 443.7M | 458.1M | 910.4M | 899.63M | 1.17B | 861.7M | 681.5M | 701.6M | 602.1M |
| EBITDA Margin % | 9.68% | 10.52% | 5.14% | 3.06% | 6.43% | 12.64% | -2.95% | -0.37% | -86.39% | 10.71% | 11.59% | 13.07% | 13.28% | 13.7% | 13.82% | 7.14% | 13.93% | 15.24% | 5.94% | 14.32% | 13.71% | 11.6% | 6.57% | 5.91% | 12.21% | 13.02% | 16.91% | 13.44% | 18.32% | 21.69% | 20.96% |
| EBITDA Growth % | 80.78% | 94.36% | 56.63% | -59.05% | -54.56% | 583.03% | -669.44% | 99.52% | -572.32% | 2.69% | 98.87% | 1.6% | -2.45% | -4.38% | 94.75% | -47.79% | -5.62% | 121.3% | -58.13% | 7.93% | 15.48% | 65.88% | -3.14% | -49.68% | 1.2% | -23.29% | 36.1% | 26.44% | -2.86% | 16.53% | 15.54% |
| D&A (Non-Cash Add-back) | 236M | 311M | 323M | 334M | 296M | 325M | 357M | 446M | 372M | 353M | 437.2M | 171.6M | 156.1M | 158.9M | 163.7M | 161.6M | 172.3M | 175.1M | 183.3M | 177M | 193.3M | 213.8M | 249.1M | 278.2M | 280.7M | 328.77M | 292.58M | 271.7M | 147.5M | 129.9M | 116.4M |
| EBIT | 3M | 20M | 35M | -227M | 392M | 1.02B | -732M | 822M | -7.55B | 1.05B | 360.3M | 730.7M | 722.9M | 598.6M | 632.4M | 296.9M | 415.7M | 574.5M | 150.6M | 826.3M | 723M | 640M | 218.3M | 686.9M | 661.5M | 637.53M | 874.69M | 585.19M | 795.49M | 676.8M | 467.3M |
| Net Interest Income | -249M | -321M | -295M | -283M | -235M | -256M | -274M | -303M | -446M | -468.9M | -404.2M | -79.9M | -60.4M | -60.3M | -76.1M | -86.2M | -118.4M | -140M | -137.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.2M | 3.9M | 2M | 4.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 333M | 321M | 295M | 283M | 235M | 256M | 274M | 303M | 446M | 79.9M | 404.2M | 88.1M | 64.3M | 62.3M | 80.4M | 86.2M | 118.4M | 140M | 137.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -767M | -748M | -327M | -458M | -155M | -253M | -372M | -370M | -437.7M | -306.4M | -279.3M | -263.9M | -142.6M | -78.8M | -86M | -104.5M | -329.6M | -146.7M | -197M | -111.4M | -141.7M | -104M | -116.3M | -477.5M | -231.2M | -154.99M | -194.75M | -359.06M | 282.97M | -27.1M | -39M |
| Pretax Income | -307M | -301M | -260M | -543M | 157M | 760M | -1.01B | -852M | -8.27B | 1.43B | 814.5M | 337.5M | 462.1M | 542.2M | 565.9M | 152.5M | 300.3M | 535.2M | 1.8M | 628.9M | 514.9M | 418.1M | 86.3M | 20.1M | 468.5M | 415.87M | 685.49M | 230.9M | 684.9M | 480.8M | 424.7M |
| Pretax Margin % | -4.27% | -4.18% | -3.43% | -6.68% | 1.66% | 7.18% | -10.72% | -8.77% | -95.79% | 9.69% | 6.14% | 5.71% | 8.07% | 9.52% | 9.59% | 2.6% | 5.21% | 9.6% | 0.03% | 9.82% | 8.3% | 6.59% | 1.28% | 0.26% | 6.29% | 6.02% | 9.88% | 3.6% | 18.41% | 14.87% | 14.78% |
| Income Tax | -26M | -16M | -44M | -155M | -40M | 138M | -236M | -1.04B | -1.48B | -1.32B | 286M | 78.2M | 89.1M | 122.1M | 166.3M | 17.9M | 7.5M | 165.9M | 53.6M | 149.7M | 44.2M | 61.7M | 105.4M | 66.7M | 157M | 151.23M | 263.91M | 135.5M | 288.7M | 190.4M | 168.2M |
| Effective Tax Rate % | 8.47% | 5.32% | 16.92% | 28.55% | -25.48% | 18.16% | 23.46% | 121.83% | 17.88% | -92.36% | 35.11% | 23.17% | 19.28% | 22.52% | 29.39% | 11.74% | 2.5% | 31% | 2977.78% | 23.8% | 8.58% | 14.76% | 122.13% | 331.84% | 33.51% | 36.37% | 38.5% | 58.68% | 42.15% | 39.6% | 39.6% |
| Net Income | -281M | -285M | -216M | -388M | 197M | 622M | -770M | 107M | -6.92B | 2.75B | 527.8M | 350M | 377.8M | 474.6M | 401.3M | 125.2M | 292.8M | 369.3M | -52.3M | 467.1M | 385M | 251.3M | -116.1M | -46.6M | -203.4M | 264.63M | 421.57M | 95.4M | 396.2M | 290.4M | 256.5M |
| Net Margin % | -3.91% | -3.96% | -2.85% | -4.77% | 2.08% | 5.87% | -8.2% | 1.1% | -80.15% | 18.65% | 3.98% | 5.92% | 6.6% | 8.34% | 6.8% | 2.13% | 5.08% | 6.62% | -0.81% | 7.29% | 6.21% | 3.96% | -1.72% | -0.6% | -2.73% | 3.83% | 6.08% | 1.49% | 10.65% | 8.98% | 8.93% |
| Net Income Growth % | -15.16% | -31.94% | 44.33% | -296.95% | -68.33% | 180.78% | -819.63% | 101.55% | -351.67% | 420.8% | 50.8% | -7.36% | -20.4% | 18.27% | 220.53% | -57.24% | -20.71% | 806.12% | -111.2% | 21.32% | 53.2% | 316.45% | -149.14% | 77.09% | -176.86% | -37.23% | 341.9% | -75.92% | 36.43% | 13.22% | 15.28% |
| Net Income (Continuing) | -281M | -285M | -216M | -388M | 197M | 622M | -770M | 186M | -6.63B | 2.43B | -38.3M | 259.3M | 373M | 416.3M | 399.6M | 187.2M | 292.8M | 285.5M | -49.8M | 479.2M | 470.7M | 406.3M | 105M | 217.9M | 265M | 264.63M | 421.57M | 95.44M | 481.83M | 321.6M | 259M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -79M | -309M | 314.5M | 566.1M | 90.7M | 4.8M | 58.3M | 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 | 26M | 32.7M | 34.8M | 36.6M | 35.6M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 3.5M | 0 | 0 | 0 | 0 | 0 | 1.7M | 1.3M | 685K | 501.79M | 501.7M | 500.9M | 8.4M | 0 |
| EPS (Diluted) | -0.67 | -0.68 | -0.52 | -0.94 | 0.47 | 1.45 | -1.82 | 0.44 | -14.60 | 5.63 | 1.25 | 1.29 | 1.35 | 1.63 | 1.37 | 0.42 | 0.96 | 0.97 | -0.19 | 1.68 | 1.40 | 0.91 | -0.42 | -0.17 | -0.76 | 0.99 | 1.57 | 0.34 | 1.70 | 1.14 | 1.60 |
| EPS Growth % | -13.86% | -30.77% | 44.68% | -300% | -67.59% | 179.67% | -513.64% | 103.01% | -359.32% | 350.4% | -3.1% | -4.44% | -17.18% | 18.98% | 226.19% | -56.25% | -1.03% | 610.53% | -111.31% | 20% | 53.85% | 316.67% | -147.06% | 77.63% | -176.77% | -36.94% | 361.76% | -80% | 49.12% | -28.75% | 14.29% |
| EPS (Basic) | - | -0.68 | -0.52 | -0.94 | 0.47 | 1.46 | -1.82 | 0.44 | -14.60 | 5.65 | 1.25 | 1.30 | 1.37 | 1.64 | 1.38 | 0.43 | 1.04 | 1.02 | -0.19 | 1.69 | 1.40 | 0.92 | -0.42 | -0.17 | -0.76 | 0.99 | 1.57 | 0.34 | 1.72 | 1.15 | 1.60 |
| Diluted Shares Outstanding | 421.6M | 418.2M | 415.5M | 414.1M | 417.4M | 428M | 424.1M | 423.9M | 473.7M | 488M | 421.3M | 271.5M | 278.9M | 291.8M | 293.6M | 296.2M | 305.4M | 294.4M | 279.9M | 286.1M | 275.5M | 274.9M | 274.7M | 274.3M | 268M | 267.05M | 268.5M | 281.98M | 291.88M | 158.57M | 161.88M |
| Basic Shares Outstanding | 421.6M | 418.2M | 415.5M | 414.1M | 415.7M | 425.3M | 424.1M | 423.3M | 473.7M | 486.7M | 421.3M | 269.3M | 276.1M | 288.6M | 291.2M | 293.6M | 282.4M | 280.8M | 279.9M | 276M | 274.6M | 274.4M | 274.4M | 274.1M | 267.1M | 266.66M | 268.4M | 281.81M | 280.73M | 158.57M | 161.88M |
| Dividend Payout Ratio | - | - | - | - | 195.43% | 63.34% | - | 365.42% | - | 15.59% | 62.26% | 58.94% | 48.31% | 36.68% | 31.37% | 67.81% | 18.92% | 19.33% | - | 50.25% | 60.47% | 92.12% | - | - | - | 84.64% | 53.39% | 236.66% | 53.63% | 35.06% | 34.66% |
Persistent Revenue Contraction
As evidenced by the ten-quarter financial data, Newell Brands has experienced a consistent decline in top-line performance, with revenue growth remaining negative throughout the period, culminating in a 1.1% year-over-year contraction in 2026Q1, signaling significant challenges in achieving organic volume expansion across its core segments.
The persistent negative revenue growth suggests that the company is struggling to offset volume declines with pricing actions in a competitive retail environment. This trend indicates that the brand portfolio may be losing relevance or facing structural headwinds in key categories like home appliances and outdoor recreation.
Based on reported quarterly figures, Newell's gross margin has fluctuated within a narrow band, peaking at 35.4% in 2025Q2 before retreating to 33.1% in 2026Q1, which highlights the difficulty of expanding profitability in a business model heavily reliant on commoditized, plastic-intensive consumer goods.
The inability to sustain margins above the mid-30s suggests limited pricing power and high sensitivity to raw material input costs. Investors should monitor whether future restructuring efforts can successfully decouple margin performance from volatile commodity prices.
According to the income statement, operating income has exhibited extreme volatility, swinging from a $121 million loss in 2024Q3 to a $171 million profit in 2025Q2, indicating that the company lacks the operational scale to consistently leverage its SG&A expenses against gross profit fluctuations.
The erratic nature of operating margins suggests that the company's cost structure is not yet optimized to absorb revenue volatility. This lack of operating leverage may imply that fixed costs remain too high relative to the current, shrinking revenue base.
Financial statements reveal that net income has been frequently negative, with a significant $315 million loss reported in 2025Q4, suggesting that non-operating items and restructuring charges continue to weigh heavily on the bottom line and complicate the assessment of true core earnings power.
The recurring nature of these losses, despite occasional positive operating income, warrants further investigation into the impact of non-cash impairment charges and interest expenses. The disconnect between operating performance and net income suggests that the company's capital structure or legacy liabilities may be masking underlying operational realities.
While management emphasizes portfolio simplification, the data indicates that revenue has declined for ten consecutive quarters, raising concerns that the divestiture strategy may be shrinking the company faster than it can improve the profitability of the remaining core assets, as shown in recent filings.
Short-term improvements in specific quarters appear to be driven more by cost-cutting than by sustainable demand growth. The market should remain cautious about whether the current restructuring plan can effectively reverse the long-term trend of top-line erosion.
Quick answers to the most common questions about buying NWL stock.
For fiscal year 2025, Newell Brands Inc. (NWL) reported total revenue of $7.20B. This represents a 150.8% increase compared to $2.87B in 1996.
Newell Brands Inc. (NWL) reported a net loss of $285.0M for the fiscal year ending 2025.
Newell Brands Inc. (NWL) reported an operating income of $447.0M, resulting in an operating profit margin of 6.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Newell Brands Inc. (NWL) generated $2.43B in gross profit for the year, representing a gross profit margin of 33.8%. This demonstrates the company's core pricing power and production efficiency.