Energizer Holdings, Inc.
ENR
Miscellaneous Electrical Machinery, Equipment & Supplies
Mkt Cap
$2.023BPE
23.58Debt
$3.279BCash
$158.1MEV
$5.144BFCF
$309.8MP/E Ratio
23.58Debt
$3.279BCash
$158.1MEV
$5.144BFCF
$309.8MCharts data: {"Earnings":[{"time":"2014-09-29","value":157300000},{"time":"2015-09-29","value":-4000000},{"time":"2016-09-29","value":127700000},{"time":"2017-09-29","value":201500000},{"time":"2018-09-29","value":93500000},{"time":"2019-09-29","value":51100000},{"time":"2020-09-29","value":-93300000},{"time":"2021-09-29","value":144700000},{"time":"2022-09-29","value":-235500000},{"time":"2023-09-29","value":140500000}],"Sales":[{"time":"2014-09-29","value":1840400000},{"time":"2015-09-29","value":1631600000},{"time":"2016-09-29","value":1634200000},{"time":"2017-09-29","value":1755700000},{"time":"2018-09-29","value":1797700000},{"time":"2019-09-29","value":2494500000},{"time":"2020-09-29","value":2744800000},{"time":"2021-09-29","value":3021500000},{"time":"2022-09-29","value":3050100000},{"time":"2023-09-29","value":2959700000}],"Net Margins":[{"time":"2014-09-29","value":0.08547054988046077},{"time":"2015-09-29","value":-0.002451581269919098},{"time":"2016-09-29","value":0.07814221025578265},{"time":"2017-09-29","value":0.11476903799054508},{"time":"2018-09-29","value":0.05201090282027034},{"time":"2019-09-29","value":0.020485067147724995},{"time":"2020-09-29","value":-0.03399154765374526},{"time":"2021-09-29","value":0.047890120800926694},{"time":"2022-09-29","value":-0.07721058325956526},{"time":"2023-09-29","value":0.04747102746900023}],"Assets":[{"time":"2014-09-29","value":1194700000},{"time":"2015-09-29","value":1629600000},{"time":"2016-09-29","value":1731500000},{"time":"2017-09-29","value":1823600000},{"time":"2018-09-29","value":3178800000},{"time":"2019-09-29","value":5449600000},{"time":"2020-09-29","value":5728300000},{"time":"2021-09-29","value":5007500000},{"time":"2022-09-29","value":4572100000},{"time":"2023-09-29","value":4509600000}],"Stockholders Equity":[{"time":"2014-09-29","value":724500000},{"time":"2015-09-29","value":-60100000},{"time":"2016-09-29","value":-30000000},{"time":"2017-09-29","value":85100000},{"time":"2018-09-29","value":24500000},{"time":"2019-09-29","value":543800000},{"time":"2020-09-29","value":309100000},{"time":"2021-09-29","value":355700000},{"time":"2022-09-29","value":130600000},{"time":"2023-09-29","value":210700000}],"ROE":[{"time":"2014-09-29","value":0.2171152518978606},{"time":"2015-09-29","value":0.06655574043261231},{"time":"2016-09-29","value":-4.256666666666667},{"time":"2017-09-29","value":2.3678025851938895},{"time":"2018-09-29","value":3.816326530612245},{"time":"2019-09-29","value":0.09396837072453108},{"time":"2020-09-29","value":-0.3018440634098997},{"time":"2021-09-29","value":0.4068034860837785},{"time":"2022-09-29","value":-1.8032159264931087},{"time":"2023-09-29","value":0.6668248694826768}],"ROA":[{"time":"2014-09-29","value":0.22424039507826232},{"time":"2015-09-29","value":0.04737358861070201},{"time":"2016-09-29","value":0.12705746462604678},{"time":"2017-09-29","value":0.1789866198727791},{"time":"2018-09-29","value":0.08607021517553794},{"time":"2019-09-29","value":0.05488476218438051},{"time":"2020-09-29","value":0.04586002828064173},{"time":"2021-09-29","value":0.030793809286070895},{"time":"2022-09-29","value":-0.06681831106056298},{"time":"2023-09-29","value":0.0389613269469576}]}
Energizer Holdings, Inc., together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands. The company also licenses the Energizer and Eveready brands to companies developing consumer solutions in solar, automotive batteries, portable power for critical devices, generators, power tools, household light bulbs, and other lighting products. In addition, it designs and markets automotive fragrance and appearance products, including protectants, wipes, tire and wheel care products, glass cleaners, leather care products, air fresheners, and washes to clean, shine, refresh, and protect interior and exterior automobile surfaces under the brand names of Armor All, Nu Finish, Refresh Your Car!, LEXOL, Eagle One, California Scents, Driven, Bahama & Co, Carnu, Grand Prix, Kit, and Tempo; STP branded fuel and oil additives, functional fluids, and other performance chemical products; and do-it-yourself automotive air conditioning recharge products under the A/C PRO brand name, as well as other refrigerant and recharge kits, sealants, and accessories. The company sells its products through direct sales force, distributors, and wholesalers; and various retail and business-to-business channels, including mass merchandisers, club, electronics, food, home improvement, dollar store, auto, drug, hardware, e-commerce, convenience, sporting goods, hobby/craft, office, industrial, medical, and catalog. Energizer Holdings, Inc. was incorporated in 2015 and is headquartered in Saint Louis, Missouri.
DCF
Discounted Cash Flow Valuation of Energizer Holdings, Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $309.8M | $339.4M | $370.1M | $401.7M | $434M | $466.7M | $499.4M | $532M | $564M | $595M | $624.8M | $6.248B |
| DCF | $295.1M | $279.8M | $264.1M | $248.1M | $232M | $215.9M | $200M | $184.4M | $169.1M | $154.4M | $1.544B | |
| Value | $3.787B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -2.3%
Earnings Stability -28%
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 | 09-2015 | 09-2016 | 09-2017 | 09-2018 | 09-2019 | 09-2020 | 09-2021 | 09-2022 | 09-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -0.25% | 7.8% | 11% | 5.2% | 2% | -3.4% | 4.8% | -7.7% | 4.7% | 3% |
| ROA | 4.7% | 13% | 18% | 8.6% | 5.5% | 4.6% | 3.1% | -6.7% | 3.9% | 2.5% |
| ROE | 6.7% | -430% | 240% | 380% | 9.4% | -30% | 41% | -180% | 67% | 45% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +0.94%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -0.67%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +3.16%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -1.76%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +47.98%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -59.23%.
Safety & Stabiliy
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 | 09-2015 | 09-2016 | 09-2017 | 09-2018 | 09-2019 | 09-2020 | 09-2021 | 09-2022 | 09-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 8.25 | 6.05 | 5.79 | 4.85 | 37.26 | 15.54 | 29.66 | -46.40 | 10.01 | 10.58 |
| Debt Equity | -16.66 | -33.33 | 11.70 | 40.49 | 6.47 | 16.28 | 9.57 | 27.29 | 16.08 | 17.14 |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 86% | 36% | -81% | 100% | -690% | - | -690% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 10.58.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -6.03.
What is the Graham’s Stability?
Graham’s Stability measure stands at -6.89.
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 | 09-2016 | 09-2018 | 09-2020 | 09-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 8.9% | 10% | 2.5% | -3% | 0.81% |
| Net Income | 1.4% | 8.5% | - | - | -52% |
| Stockholders Equity | - | 54% | -12% | 61% | -170% |
| FCF | 11% | 11% | 1.5% | - | 9.7% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +10.49%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +0.81%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +8.49%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -51.57%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +53.78%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -166.51%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +10.6%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is +9.73%.