Revenue growth remains resilient at 10.7% in 2026Q2, though operating income scaling is hindered by SG&A volatility and stock-based compensation expenses of $2.9 million.
| Metric | TTM | Aug'25 | Aug'24 | Aug'23 | Aug'22 | Aug'21 | Aug'20 | Aug'19 | Aug'18 | Aug'17 | Aug'16 | Aug'15 | Aug'14 | Aug'13 | Aug'12 | Aug'11 | Aug'10 | Aug'09 | Aug'08 | Aug'07 | Aug'06 | Aug'05 | Aug'04 | Aug'03 | Aug'02 | Aug'01 | Aug'00 | Aug'99 | Aug'98 | Aug'97 | Aug'96 |
|---|
| Sales/Revenue | 636.48M | 619.99M | 590.56M | 537.25M | 518.82M | 488.11M | 408.5M | 423.35M | 408.52M | 380.51M | 380.67M | 378.15M | 383M | 368.55M | 342.78M | 336.41M | 321.52M | 292M | 317.12M | 307.82M | 286.92M | 263.23M | 242.47M | 238.14M | 216.76M | 174.58M | 152.7M | 146.3M | 144.4M | 137.9M | 130.9M |
| Revenue Growth % | 4.23% | 4.98% | 9.92% | 3.55% | 6.29% | 19.49% | -3.51% | 3.63% | 7.36% | -0.04% | 0.67% | -1.27% | 3.92% | 7.52% | 1.9% | 4.63% | 10.11% | -7.92% | 3.02% | 7.28% | 9% | 8.56% | 1.82% | 9.86% | 24.17% | 14.33% | 4.37% | 1.32% | 4.71% | 5.35% | 12.07% |
| Cost of Goods Sold | 282.17M | 278.64M | 275.33M | 263.04M | 264.06M | 224.37M | 185.48M | 191.01M | 183.25M | 166.62M | 166.3M | 177.97M | 184.14M | 179.38M | 174.3M | 168.3M | 156.21M | 147.47M | 168.85M | 158.95M | 148.52M | 133.83M | 116.94M | 115.93M | 108.15M | 79.55M | 68.39M | 63.7M | 62.2M | 58.4M | 57.2M |
| COGS % of Revenue | - | 44.94% | 46.62% | 48.96% | 50.9% | 45.97% | 45.41% | 45.12% | 44.86% | 43.79% | 43.69% | 47.06% | 48.08% | 48.67% | 50.85% | 50.03% | 48.59% | 50.5% | 53.24% | 51.64% | 51.76% | 50.84% | 48.23% | 48.68% | 49.89% | 45.57% | 44.79% | 43.54% | 43.07% | 42.35% | 43.7% |
| Gross Profit | 354.31M | 341.34M | 315.23M | 274.22M | 254.76M | 263.74M | 223.02M | 232.34M | 225.26M | 213.88M | 214.37M | 200.18M | 198.85M | 189.16M | 168.48M | 168.11M | 165.31M | 144.53M | 148.27M | 148.86M | 138.4M | 129.39M | 125.52M | 122.21M | 108.61M | 95.03M | 84.3M | 82.6M | 82.2M | 79.5M | 73.7M |
| Gross Margin % | 55.67% | 55.06% | 53.38% | 51.04% | 49.1% | 54.03% | 54.59% | 54.88% | 55.14% | 56.21% | 56.31% | 52.94% | 51.92% | 51.33% | 49.15% | 49.97% | 51.41% | 49.5% | 46.76% | 48.36% | 48.24% | 49.16% | 51.77% | 51.32% | 50.11% | 54.43% | 55.21% | 56.46% | 56.93% | 57.65% | 56.3% |
| Gross Profit Growth % | - | 8.28% | 14.95% | 7.64% | -3.4% | 18.26% | -4.01% | 3.14% | 5.32% | -0.23% | 7.09% | 0.67% | 5.12% | 12.27% | 0.22% | 1.7% | 14.37% | -2.52% | -0.4% | 7.56% | 6.96% | 3.08% | 2.71% | 12.52% | 14.29% | 12.72% | 2.06% | 0.49% | 3.4% | 7.87% | 9.02% |
| Operating Expenses | 249.38M | 237.55M | 218.88M | 184.5M | 167.44M | 174.9M | 145.8M | 149.96M | 146.66M | 137.98M | 143.02M | 134.79M | 135.12M | 131.45M | 116.75M | 113.98M | 110.11M | 97.98M | 105.57M | 99.85M | 92.38M | 81.97M | 80.07M | 72.46M | 66.25M | 66.94M | 52.68M | 48.8M | 48.1M | 44.8M | 41M |
| OpEx % of Revenue | - | 38.32% | 37.06% | 34.34% | 32.27% | 35.83% | 35.69% | 35.42% | 35.9% | 36.26% | 37.57% | 35.64% | 35.28% | 35.67% | 34.06% | 33.88% | 34.25% | 33.55% | 33.29% | 32.44% | 32.2% | 31.14% | 33.02% | 30.43% | 30.56% | 38.34% | 34.5% | 33.36% | 33.31% | 32.49% | 31.32% |
| Selling, General & Admin | 240.58M | 237.37M | 217.77M | 183.49M | 166M | 173.45M | 143.59M | 147.25M | 143.71M | 135.1M | 140.04M | 131.75M | 132.5M | 129.19M | 114.62M | 112.44M | 109.38M | 97.51M | 103.64M | 99.26M | 91.85M | 81.42M | 79.85M | 71.51M | 65.96M | 62.98M | 49.27M | 46.4M | 45.9M | 42.6M | 39.2M |
| SG&A % of Revenue | - | 38.29% | 36.88% | 34.15% | 32% | 35.53% | 35.15% | 34.78% | 35.18% | 35.5% | 36.79% | 34.84% | 34.6% | 35.05% | 33.44% | 33.42% | 34.02% | 33.39% | 32.68% | 32.25% | 32.01% | 30.93% | 32.93% | 30.03% | 30.43% | 36.08% | 32.27% | 31.72% | 31.79% | 30.89% | 29.95% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.5M | 7M | 8.4M | 7.7M | 9M | 6.9M | 7.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | 1.54% | 1.71% | 2.21% | 2.02% | 2.38% | 1.8% | 1.95% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 590K | 183K | 1.11M | 1M | 1.43M | 1.45M | 2.21M | 2.71M | 339K | 787K | 2.46M | -1.66M | -372K | 417K | -348K | 1.54M | 724K | 468K | 1.94M | 583K | 532K | 552K | 224K | 950K | 285K | 3.96M | 3.41M | 2.4M | 2.2M | 2.2M | 1.8M |
| Operating Income | 104.94M | 103.79M | 96.35M | 89.72M | 87.33M | 88.84M | 77.22M | 82.38M | 78.6M | 75.91M | 71.35M | 65.39M | 63.74M | 56.64M | 51.73M | 54.13M | 55.2M | 39.84M | 42.7M | 49.02M | 46.02M | 47.42M | 45.45M | 49.75M | 42.37M | 28.09M | 31.62M | 33.8M | 34.1M | 34.7M | 32.7M |
| Operating Margin % | 16.49% | 16.74% | 16.32% | 16.7% | 16.83% | 18.2% | 18.9% | 19.46% | 19.24% | 19.95% | 18.74% | 17.29% | 16.64% | 15.37% | 15.09% | 16.09% | 17.17% | 13.65% | 13.46% | 15.92% | 16.04% | 18.01% | 18.74% | 20.89% | 19.54% | 16.09% | 20.71% | 23.1% | 23.61% | 25.16% | 24.98% |
| Operating Income Growth % | - | 7.72% | 7.39% | 2.74% | -1.7% | 15.05% | -6.27% | 4.81% | 3.55% | 6.39% | 9.11% | 2.59% | 12.54% | 9.49% | -4.44% | -1.93% | 38.53% | -6.68% | -12.89% | 6.51% | -2.95% | 4.34% | -8.65% | 17.43% | 50.83% | -11.18% | -6.44% | -0.88% | -1.73% | 6.12% | 3.81% |
| EBITDA | 113.77M | 111.98M | 105.81M | 97.88M | 95.62M | 95.86M | 84.92M | 89.97M | 86.4M | 82.68M | 77.81M | 71.85M | 69.6M | 62M | 56.6M | 58.52M | 59.45M | 43.57M | 46.52M | 52.66M | 49.49M | 50.43M | 47.82M | 51.58M | 44.19M | 33.41M | 35.03M | 36.2M | 36.3M | 36.9M | 34.5M |
| EBITDA Margin % | 17.88% | 18.06% | 17.92% | 18.22% | 18.43% | 19.64% | 20.79% | 21.25% | 21.15% | 21.73% | 20.44% | 19% | 18.17% | 16.82% | 16.51% | 17.39% | 18.49% | 14.92% | 14.67% | 17.11% | 17.25% | 19.16% | 19.72% | 21.66% | 20.39% | 19.14% | 22.94% | 24.74% | 25.14% | 26.76% | 26.36% |
| EBITDA Growth % | 4.49% | 5.84% | 8.1% | 2.35% | -0.25% | 12.88% | -5.62% | 4.13% | 4.51% | 6.25% | 8.29% | 3.24% | 12.26% | 9.54% | -3.28% | -1.56% | 36.43% | -6.34% | -11.66% | 6.42% | -1.86% | 5.46% | -7.29% | 16.72% | 32.27% | -4.63% | -3.23% | -0.28% | -1.63% | 6.96% | 6.15% |
| D&A (Non-Cash Add-back) | 8.84M | 8.19M | 9.46M | 8.15M | 8.29M | 7.02M | 7.7M | 7.59M | 7.8M | 6.77M | 6.46M | 6.46M | 5.86M | 5.36M | 4.87M | 4.39M | 4.25M | 3.73M | 3.83M | 3.65M | 3.47M | 3.01M | 2.37M | 1.83M | 1.82M | 5.32M | 3.41M | 2.4M | 2.2M | 2.2M | 1.8M |
| EBIT | 106.02M | 105.07M | 95.8M | 90.78M | 86.85M | 88.89M | 77.95M | 83.31M | 79.4M | 77.2M | 74.49M | 64.31M | 63.96M | 57.56M | 51.64M | 54.61M | 55.28M | 40.82M | 42.7M | 49.02M | 46.02M | 47.42M | 45.45M | 49.75M | 42.37M | 28.09M | 31.62M | 33.8M | 34.1M | 34.7M | 32.7M |
| Net Interest Income | -3.56M | -2.92M | -3.81M | -5.38M | -2.64M | -2.31M | -2.35M | -2.39M | -3.77M | -2.07M | -1.02M | -621K | -406K | -187K | -468K | -848K | -1.55M | -2.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 596K | 517K | 474K | 231K | 102K | 81K | 93K | 155K | 454K | 508K | 683K | 584K | 596K | 506K | 261K | 228K | 174K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 4.16M | 3.44M | 4.29M | 5.61M | 2.74M | 2.4M | 2.44M | 2.54M | 4.22M | 2.58M | 1.7M | 1.21M | 1M | 693K | 729K | 1.08M | 1.73M | 2.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -1.56M | -2.17M | -4.84M | -4.56M | -3.22M | -2.34M | -1.71M | -1.61M | -3.43M | -1.29M | 1.44M | -2.28M | -778K | 230K | -816K | -601K | -1.64M | -1.52M | -697K | -1.84M | -3.16M | -4.55M | -6.6M | -6.36M | -5.52M | -2.51M | -495K | 400K | 200K | -1.3M | 700K |
| Pretax Income | 103.38M | 101.63M | 91.51M | 85.16M | 84.11M | 86.5M | 75.52M | 80.77M | 75.18M | 74.62M | 72.79M | 63.11M | 62.96M | 56.87M | 50.91M | 53.53M | 53.56M | 38.32M | 42M | 47.17M | 42.86M | 42.87M | 38.85M | 43.4M | 36.84M | 25.58M | 31.13M | 34.2M | 34.3M | 33.4M | 33.4M |
| Pretax Margin % | 16.24% | 16.39% | 15.5% | 15.85% | 16.21% | 17.72% | 18.49% | 19.08% | 18.4% | 19.61% | 19.12% | 16.69% | 16.44% | 15.43% | 14.85% | 15.91% | 16.66% | 13.12% | 13.24% | 15.33% | 14.94% | 16.28% | 16.02% | 18.22% | 17% | 14.65% | 20.39% | 23.38% | 23.75% | 24.22% | 25.52% |
| Income Tax | 23.39M | 10.63M | 21.86M | 19.17M | 16.78M | 16.27M | 14.8M | 24.86M | 9.96M | 21.69M | 20.16M | 18.3M | 19.21M | 17.05M | 15.43M | 17.1M | 17.46M | 12.04M | 14.38M | 15.64M | 14.75M | 15.07M | 13.21M | 14.75M | 11.47M | 8.7M | 10.57M | 12.1M | 12.4M | 12M | 12.1M |
| Effective Tax Rate % | 22.63% | 10.46% | 23.89% | 22.51% | 19.95% | 18.81% | 19.61% | 30.78% | 13.25% | 29.07% | 27.7% | 29% | 30.52% | 29.99% | 30.3% | 31.94% | 32.6% | 31.41% | 34.23% | 33.16% | 34.41% | 35.15% | 34% | 34% | 31.15% | 34% | 33.96% | 35.38% | 36.15% | 35.93% | 36.23% |
| Net Income | 79.99M | 90.99M | 69.64M | 65.99M | 67.33M | 70.23M | 60.71M | 55.91M | 65.22M | 52.93M | 52.63M | 44.81M | 43.75M | 39.81M | 35.48M | 36.43M | 36.09M | 26.29M | 27.62M | 31.53M | 28.11M | 27.8M | 25.64M | 28.64M | 24.68M | 15.9M | 20.56M | 22.1M | 21.9M | 21.4M | 21.3M |
| Net Margin % | 12.57% | 14.68% | 11.79% | 12.28% | 12.98% | 14.39% | 14.86% | 13.21% | 15.96% | 13.91% | 13.83% | 11.85% | 11.42% | 10.8% | 10.35% | 10.83% | 11.23% | 9% | 8.71% | 10.24% | 9.8% | 10.56% | 10.58% | 12.03% | 11.38% | 9.11% | 13.46% | 15.11% | 15.17% | 15.52% | 16.27% |
| Net Income Growth % | -6.34% | 30.66% | 5.53% | -1.98% | -4.13% | 15.68% | 8.59% | -14.27% | 23.21% | 0.57% | 17.45% | 2.43% | 9.88% | 12.2% | -2.6% | 0.94% | 37.31% | -4.83% | -12.41% | 12.17% | 1.13% | 8.4% | -10.47% | 16.07% | 55.17% | -22.64% | -6.98% | 0.91% | 2.34% | 0.47% | 3.9% |
| Net Income (Continuing) | 79.99M | 90.99M | 69.64M | 65.99M | 67.33M | 70.23M | 60.71M | 55.91M | 65.22M | 52.93M | 52.63M | 44.81M | 43.75M | 39.81M | 35.48M | 36.43M | 36.09M | 26.29M | 27.62M | 31.53M | 28.11M | 27.8M | 25.64M | 28.64M | 25.37M | 16.88M | 20.56M | 22.1M | 21.9M | 21.4M | 21.3M |
| Discontinued Operations | 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 | 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 | 0 |
| EPS (Diluted) | 5.91 | 6.69 | 5.11 | 4.83 | 4.90 | 5.09 | 4.40 | 4.04 | 4.67 | 3.72 | 3.64 | 3.04 | 2.87 | 2.54 | 2.20 | 2.14 | 2.15 | 1.58 | 1.64 | 1.83 | 1.66 | 1.65 | 1.50 | 1.71 | 1.53 | 1.02 | 1.33 | 1.41 | 1.40 | 1.38 | 1.38 |
| EPS Growth % | -6.22% | 30.92% | 5.8% | -1.43% | -3.73% | 15.68% | 8.91% | -13.49% | 25.54% | 2.2% | 19.74% | 5.92% | 12.99% | 15.45% | 2.8% | -0.47% | 36.08% | -3.66% | -10.38% | 10.24% | 0.61% | 10% | -12.28% | 11.76% | 50% | -23.31% | -5.67% | 0.71% | 1.45% | 0% | 3.76% |
| EPS (Basic) | - | 6.70 | 5.12 | 4.84 | 4.91 | 5.11 | 4.41 | 4.05 | 4.68 | 3.73 | 3.65 | 3.05 | 2.89 | 2.55 | 2.22 | 2.16 | 2.17 | 1.59 | 1.66 | 1.85 | 1.67 | 1.67 | 1.52 | 1.73 | 1.54 | 1.02 | 1.33 | 1.41 | 1.40 | 1.38 | 1.38 |
| Diluted Shares Outstanding | 13.53M | 13.57M | 13.58M | 13.6M | 13.7M | 13.73M | 13.72M | 13.83M | 13.96M | 14.12M | 14.38M | 14.65M | 15.15M | 15.62M | 16.05M | 16.98M | 16.73M | 16.66M | 16.82M | 17.27M | 16.91M | 16.81M | 17.12M | 16.76M | 16.15M | 15.54M | 15.46M | 15.65M | 15.66M | 15.59M | 15.43M |
| Basic Shares Outstanding | 13.5M | 13.54M | 13.55M | 13.58M | 13.67M | 13.7M | 13.69M | 13.8M | 13.93M | 14.09M | 14.33M | 14.58M | 15.07M | 15.52M | 15.91M | 16.8M | 16.61M | 16.5M | 16.64M | 17.08M | 16.78M | 16.63M | 16.91M | 16.58M | 15.98M | 15.53M | 15.46M | 15.6M | 15.6M | 15.51M | 15.42M |
| Dividend Payout Ratio | - | 55.23% | 67.77% | 67.55% | 62.36% | 54.43% | 59.36% | 58.83% | 45.37% | 50.65% | 44.97% | 48.47% | 46.14% | 47.83% | 51.37% | 50.04% | 46.15% | 62.95% | 60.43% | 52.67% | 52.5% | 50.24% | 52.88% | 46.34% | 65.22% | 115.03% | 96.3% | 90.5% | 91.32% | 90.65% | 89.67% |
Input Cost Volatility
According to the latest quarterly filings, WDFC achieved a 10.7% year-over-year revenue growth in 2026Q2, suggesting that the company maintains a stable demand profile despite broader macroeconomic headwinds that have pressured many of its peers in the specialty chemicals and consumer goods sectors.
The revenue trajectory appears to be supported by the company's ability to sustain volume in its core maintenance segment, even as the legacy homecare portfolio likely acts as a drag on overall growth rates. Investors should monitor whether this growth is organic or driven by promotional activity, as the company's reliance on trade investments could mask underlying demand shifts.
As reported in recent financial statements, WDFC's gross margin has hovered around the 55% level, indicating that the company retains significant pricing power despite the inflationary pressures on petroleum-based inputs and aerosol packaging costs that have historically impacted the broader specialty chemicals industry.
The consistency of these margins suggests that the brand's psychological lock-in allows for successful pass-through of cost increases to end-users. However, any sustained compression below the 54% threshold would warrant further investigation into whether the company is losing its ability to offset rising commodity costs through retail price adjustments.
Based on the provided income statement data, operating income has not consistently scaled faster than gross profit, with SG&A expenses showing significant quarterly volatility that suggests a lack of clear operating leverage in the current business model as it scales its global distribution footprint.
The fluctuation in SG&A suggests that management is actively investing in marketing and distribution to defend its shelf space, which may be necessary but prevents the realization of meaningful margin expansion. Analysts should evaluate whether these elevated overhead costs are temporary investments in growth or a structural requirement for maintaining the brand's ubiquity.
Analysis of the income statement reveals that stock-based compensation remains a recurring expense, reaching $2.9 million in 2026Q2, which may indicate that reported net income figures are slightly inflated relative to cash-based profitability metrics when accounting for the dilution of shareholder equity.
While the company remains consistently profitable, the variability in EPS growth—highlighted by the sharp 31.5% decline in 2026Q2—suggests that non-operating items and tax fluctuations can create significant noise in bottom-line performance. Investors should focus on normalized earnings to better gauge the underlying operational health of the business.
Quick answers to the most common questions about buying WDFC stock.
For fiscal year 2025, WD-40 Company (WDFC) reported total revenue of $620.0M. This represents a 373.6% increase compared to $130.9M in 1996.
WD-40 Company (WDFC) is profitable, generating $91.0M in net income for the fiscal year ending 2025 with a net profit margin of 14.7%.
WD-40 Company (WDFC) reported an operating income of $103.8M, resulting in an operating profit margin of 16.7%. This margin reflects the operational efficiency of the business before interest and taxes.
WD-40 Company (WDFC) generated $341.3M in gross profit for the year, representing a gross profit margin of 55.1%. This demonstrates the company's core pricing power and production efficiency.