Church & Dwight Co Inc

Consumer Discretionary
Package Goods/Cosmetics
www.churchdwight.com

Earnings Score
Moat Score
Safety Score

Market Cap $25.84B
PE 47
Debt $2.21B
Cash $752.10M
EV $27.30B
FCF $872.20M

Earnings

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Sales & Net Margins

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Earnings	$549.80M
EBIT	$766.50M
ROE	13%
ROA	9%
FCF	$872.20M
Equity	$4.19B
Growth Stability	56%
PE	47
PEG	-8.8
PB	6.16
P/FCF	29.62
P/S	4.27
Price/Cash	0.03
Debt/Equity	0.53
Debt/FCF	2.54
Net Margins	9%
Gross Margins	46%
Op. Margins	13%
Earnings CAGR	4%
Sales Growth YoY	4%
Sales Growth QoQ	-0%
Sales CAGR	7%
FCF CAGR	5%
Equity CAGR	10%
Earnings Stability	0.12
Earnings Growth YoY	-142%
Earnings Growth QoQ	-131%
Earnings CAGR 5Y	-5%

Sales CAGR 5Y	7%
FCF CAGR 5Y	-1%
Equity CAGR 5Y	9%
Earnings CAGR 3Y	6%
Sales CAGR 3Y	6%
FCF CAGR 3Y	-1%
Equity CAGR 3Y	10%
Market Cap	$25.84B
Revenue	$6.05B
Dividend Yield	1%
Payout Ratio	50%
Assets	$8.67B
Total Debt	$2.21B
Cash	$752.10M
Shares Outstanding	244.1M
EV	27.3B
Earnings Score	7%
Moat Score	90%
Safety Score	74%
Final Score	57%
Working Capital	770.1M
Current Ratio	1.62
Gross Profit	$2.76B
Shares Growth 3y	0%
Equity Growth QoQ	-3%
Equity Growth YoY	4%

Assets & ROA

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Stockholders Equity & ROE

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Church & Dwight is the leading producer of baking soda in the world. Beyond baking soda, the products in its portfolio have vast category reach, including laundry products, cat litter, oral care, deodorant, and nasal care, all sold under the Arm & Hammer brand. Its mix also includes Xtra, Trojan, OxiClean, First Response, Nair, L'il Critters/Vitafusion, Orajel, and WaterPik, which together with Arm & Hammer constitute more than 80% of its annual sales and profits. In early 2019, the firm announced the addition of Flawless, which manufactures electric shaving products for women. At the end of 2020, the firm acquired Zicam, a leading brand in the cough/cold-shortening category.

SEC Filings

Direct access to Church & Dwight Co Inc (CHD) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Church & Dwight Co Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Church & Dwight Co Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 4%

Stability 12%

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Church & Dwight Co Inc Discounted Cash Flow

Fully customizable DCF calculator online for Church & Dwight Co Inc .

Years

Calculation mode

= $12B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$872M	$914M	$958M	$1B	$1.1B	$1.1B	$1.2B	$1.2B	$1.3B	$1.3B	$1.4B	$14B
DCF		$831M	$792M	$754M	$719M	$685M	$652M	$621M	$592M	$564M	$537M	$5.4B
Value	$12B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	13%	12%	13%	20%	14%	14%	16%	16%	8%	13%	9%
ROA	-	16%	17%	12%	13%	13%	14%	13%	7%	12%	9%
ROE	-	20%	23%	34%	23%	23%	26%	26%	12%	20%	13%

Net Margins (8.75%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	1.93	1.85	3.73	3.84	2.61	2.43	3.44	3.78	3.22	2.54
Debt over Equity	0.57	0.52	0.57	1.07	1.1	0.77	0.72	0.93	0.77	0.67	0.53
Growth Stability	-	-	-	100%	100%	100%	100%	100%	56%	100%	56%

Neutral Debt/FCF ratio (2.54)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.53)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (56%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	3%	3%	8%	10%	5%	12%	6%	4%	9%	7%
Earnings YoY growth	-	-1%	12%	62%	-24%	8%	28%	5%	-50%	83%	-5%
Equity YoY growth	-	-4%	-2%	12%	11%	9%	13%	7%	8%	10%	9%
FCF YoY growth	-	16%	11%	5%	10%	12%	13%	-2%	-19%	14%	-1%