WD-40 Company
- Open
- 246.35
- Day high
- 247.11
- Day low
- 237.88
- Prev close
- 246.79
- Volume
- 140K
- Mkt cap
- $3.2B
- P/E (TTM)
- 36.3
- EPS (TTM)
- $6.60
- P/B
- 11.6
- P/S
- 4.8
- Yield
- 0.85%
- Per share
- $2.04
WD-40 Company (WDFC) is a Basic Materials company listed on NASDAQ. The stock is up 11% over the past year.
WD-40 Company (WDFC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WDFC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 9, 2026 | $1.58 | $2.33 | +47.5% | $195M | +12.9% |
| Apr 9, 2026 | $1.39 | $1.50 | +7.9% | $162M | +4.7% |
| Jan 8, 2026 | $1.36 | $1.28 | -5.9% | $154M | -0.3% |
| Oct 22, 2025 | $1.25 | $1.56 | +24.8% | $163M | +6.2% |
| Jul 10, 2025 | $1.43 | $1.54 | +7.7% | $157M | -2.3% |
| Apr 8, 2025 | $1.27 | $1.32 | +3.9% | $146M | -5.4% |
| Jan 10, 2025 | $1.29 | $1.39 | +7.8% | $153M | +3.0% |
| Oct 17, 2024 | $1.34 | $1.23 | -8.2% | $156M | +4.6% |
| Jul 10, 2024 | $1.39 | $1.46 | +5.0% | $155M | +3.9% |
| Apr 9, 2024 | $1.11 | $1.14 | +2.7% | $139M | -1.0% |
| Jan 9, 2024 | $1.05 | $1.28 | +21.9% | $140M | +4.5% |
| Oct 19, 2023 | $1.21 | $1.21 | +0.0% | $140M | +1.6% |
WDFC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Feb 19, 2026 | Plunk Ken Allendirector | Grant | 515 | — |
| Feb 6, 2026 | PENDARVIS DAVIDdirector | Buy | 424 | $247.15 |
| Dec 12, 2025 | Etchart Ericdirector | Grant | 612 | — |
| Dec 12, 2025 | Burks Cynthiadirector | Grant | 612 | — |
| Dec 12, 2025 | Magee Edward O Jrdirector | Grant | 612 | — |
| Dec 12, 2025 | Etchart Ericdirector | Grant | 367 | — |
| Dec 12, 2025 | CARTER DANIEL Tdirector | Grant | 612 | — |
| Dec 12, 2025 | Monteagudo Gracieladirector | Grant | 612 | — |
| Dec 12, 2025 | PENDARVIS DAVIDdirector | Grant | 612 | — |
| Dec 12, 2025 | Lee Lara Ldirector | Grant | 612 | — |
| Dec 12, 2025 | Saunders Annedirector | Grant | 612 | — |
| Oct 30, 2025 | Etchart Ericdirector | Buy | 500 | $194.02 |
| Oct 30, 2025 | PENDARVIS DAVIDdirector | Buy | 523 | $196.37 |
| Oct 29, 2025 | KIAMILEV PHENIX Q.officer: VP, GC & Chief Compliance Ofcr | Buy | 55 | $200.46 |
| Oct 29, 2025 | Olsem Patricia Qofficer: Division President, Americas | Tax | 401 | — |
Source: WDFC SEC Form 4 filings, latest Feb 19, 2026. For informational purposes only — not investment advice.
See the full WDFC insider & 13F page →WD-40 Company company profile
Overview
WD-40 Company (NASDAQ:WDFC) is a specialty chemicals manufacturer founded in 1953 and headquartered in San Diego, California. The company went public in 1973 and has built its business around the iconic WD-40 Multi-Use Product, a penetrating oil and water-displacing spray that has become a household staple worldwide. Over seven decades, WD-40 has evolved from a single-product company into a diversified maintenance and cleaning products manufacturer, operating across the Americas, Europe, Middle East, Africa, and Asia Pacific regions.
Business
WD-40 Company operates in the specialty chemicals industry, specifically focusing on maintenance products and homecare cleaning solutions. The company's business is built around several key product categories that serve both consumer and industrial markets. The flagship WD-40 Multi-Use Product is a penetrating oil and water-displacing spray originally developed in 1953 by the Rocket Chemical Company to prevent nuclear corrosion. This versatile product serves multiple functions including rust prevention, moisture displacement, lubrication, and cleaning. It's available in various formats including aerosol sprays, non-aerosol trigger sprays, and liquid-bulk forms. The product has become synonymous with quick fixes and maintenance tasks in households, workshops, and industrial settings worldwide. The company's portfolio includes several distinct business segments: 1. WD-40 Specialist products represent approximately 12-13% of total revenue and include specialized maintenance solutions such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers. These products target more specific industrial and professional applications beyond the general-purpose Multi-Use Product. 2. WD-40 Bike brand offers specialized maintenance products for the cycling market, capitalizing on the growing bicycle industry and enthusiast market. 3. 3-IN-ONE brand provides multi-purpose and specialty drip oils and spray lubricants, serving similar markets to the main WD-40 product but with different formulations and applications. 4. GT85 brand offers professional spray maintenance products specifically designed for the bicycle market in certain regions. 5. Homecare and cleaning products comprise roughly 10% of revenue and include brands like 2000 Flushes (toilet bowl cleaners), Spot Shot (carpet cleaners), Carpet Fresh (deodorizers), 1001 (household cleaners), Lava and Solvol (hand cleaners), and X-14 (toilet bowl cleaners). The company is currently pursuing divestiture of this segment to focus on its core maintenance products business. The maintenance products segment, anchored by the WD-40 Multi-Use Product, represents approximately 90% of total company revenue, demonstrating the company's heavy reliance on its core competency in penetrating oils and maintenance solutions.
Revenue model
WD-40 Company operates primarily through product sales to a diverse network of retailers and distributors. The company manufactures and sells its products to warehouse club stores, hardware stores, automotive parts outlets, industrial distributors and suppliers, mass retail and home center stores, value retailers, grocery stores, online retailers, farm supply stores, sport retailers, and independent bike dealers. The company's revenue model is straightforward: it develops, manufactures, and sells branded maintenance and cleaning products at wholesale prices to retailers, who then sell them to end consumers. WD-40 does not operate direct-to-consumer sales channels but instead relies on its extensive distribution network. The paying customers are primarily retailers and distributors who purchase products for resale. The company generates revenue through several channels with different margin profiles. Direct markets where WD-40 has its own sales operations typically offer higher margins compared to distributor markets where third-party distributors handle sales and marketing. The company has been strategically expanding its direct market presence, recently acquiring its Brazilian distributor to convert that market from distributor to direct operations. Several factors significantly impact WD-40's margins and profitability. Raw material costs, particularly petroleum distillates which are key components in WD-40 products, directly affect gross margins. The company has historically faced margin pressure during periods of rising oil prices and has responded with strategic price increases to maintain profitability. Foreign exchange fluctuations materially impact results since the company operates globally, with significant exposure to European and Asia Pacific markets. Currency movements can either boost or reduce reported revenues and margins when translated back to US dollars. Premiumization efforts represent a key margin expansion opportunity. The company has been successfully shifting its product mix toward higher-margin premium formats like Smart Straw and EZ Reach products, which command price premiums over standard formats. Operational leverage in manufacturing and filling operations affects margins, as higher volumes help absorb fixed costs. However, the company has faced headwinds from increased filling fees due to labor inflation and capacity constraints at third-party manufacturing partners. Geographic mix influences overall margins, as different regions have varying cost structures and pricing dynamics. The company's expansion into emerging markets often involves lower initial margins but offers long-term volume growth potential.
Competitive moat
WD-40 Company possesses a moderately strong economic moat built primarily around brand recognition and customer loyalty, though it faces some structural limitations that prevent it from having an exceptionally wide moat. The company's primary competitive advantage lies in its iconic brand recognition. The WD-40 name has achieved near-universal recognition in many markets, becoming almost synonymous with penetrating oil and multi-use maintenance products. This brand strength creates significant customer loyalty and allows the company to command premium pricing versus generic alternatives. The brand's reputation for reliability and effectiveness has been built over seven decades, creating substantial barriers for new entrants trying to displace WD-40 from consumers' minds and toolboxes. Distribution network strength provides another layer of competitive protection. WD-40 has established relationships with major retailers worldwide and secured prime shelf placement in hardware stores, automotive outlets, and mass retailers. These established distribution channels would be difficult and expensive for competitors to replicate, particularly given retailers' limited shelf space for maintenance products. The company benefits from switching costs and habit formation. Once consumers become familiar with WD-40's performance characteristics and applications, they tend to remain loyal to the brand. The product's low unit cost relative to its utility means consumers have little incentive to experiment with alternatives, especially for critical maintenance tasks. However, WD-40's moat has notable limitations. The underlying technology is not proprietary, and the basic formulation of penetrating oils is well-understood in the chemical industry. Competitors can and do produce functionally similar products, though they struggle to match WD-40's brand recognition and market penetration. Private label competition represents a persistent threat, particularly in price-sensitive segments. Major retailers increasingly offer store-brand alternatives at significantly lower prices, which can pressure WD-40's market share, especially during economic downturns when consumers become more price-conscious. The company faces potential disruption from specialized solutions that may outperform WD-40's multi-use approach in specific applications. As industrial and consumer needs become more sophisticated, purpose-built products from specialty chemical companies could capture market share in particular niches. Regulatory risks around volatile organic compounds (VOCs) and environmental regulations could require costly reformulations or limit the company's ability to sell certain products in specific markets, potentially weakening its competitive position. Overall, WD-40's moat is solid but not impregnable, with brand strength and distribution advantages providing meaningful protection against competition while remaining vulnerable to price-based competition and potential technological disruption.
Risks & safety
WD-40 Company demonstrates a moderate margin of safety with solid financial fundamentals but elevated valuation metrics that suggest limited downside protection at current prices. • Strong balance sheet position: Current ratio of 2.4x and cash position of $53 million provide adequate liquidity. Debt-to-equity ratio of 0.51x is manageable, though higher than historical levels. • Consistent cash generation: Free cash flow of $88 million in fiscal 2024 demonstrates strong cash conversion, though Q2 2025 showed weaker $6.6 million due to timing factors. • No immediate solvency concerns: Strong operating cash flows and established credit facilities provide financial flexibility. • Elevated valuation metrics: Current P/E ratio of 27x and EV/EBITDA of 32x represent premium valuations that offer limited margin of safety. Price-to-book ratio of 13.4x indicates significant premium to tangible assets. • Graham metrics concerning: Graham number of $29.76 versus current price of $217 suggests significant overvaluation by traditional value metrics. • Dividend sustainability: Strong free cash flow coverage supports the company's consistent dividend payments and recent 7% increase. • Cyclical earnings risk: Consumer discretionary spending patterns and industrial maintenance cycles could pressure earnings during economic downturns, making current valuations vulnerable to multiple compression.
Recent development
Over the past several years, WD-40 Company has undergone significant strategic evolution centered around its "Four-by-Four" strategic framework introduced in fiscal 2023. This framework identifies four "Must-Win Battles" and four "Strategic Enablers" that guide the company's resource allocation and growth initiatives. The company's most significant strategic pivot involves pursuing divestiture of its homecare and cleaning brands, which represent approximately 10% of revenue. Management has determined these brands don't align with the core maintenance products focus and plans to complete the divestiture in the first half of fiscal 2025. This move is expected to improve gross margins by 60 basis points and allow greater focus on higher-growth maintenance products. Geographic expansion represents the company's primary growth driver, with management identifying a $1.2 billion global opportunity for the WD-40 Multi-Use Product. The company has been converting distributor markets to direct operations, including the recent acquisition of its Brazilian distributor, to capture higher margins and better control market development. Strong growth in Latin America (up 63% in Q4 2024) and emerging markets like China and India demonstrates the success of this strategy. Premiumization efforts have gained significant traction, with premium product formats like Smart Straw and EZ Reach growing 17% in recent quarters. These products command higher margins and help offset raw material cost pressures while providing enhanced functionality that justifies premium pricing. The WD-40 Specialist product line expansion targets professional and industrial users with specialized maintenance solutions. This segment has shown consistent double-digit growth, with sales up 14% in recent quarters, representing a $530 million potential growth opportunity according to management estimates. Digital commerce acceleration has become increasingly important, with e-commerce sales growing 22% as the company invests in online capabilities and digital marketing. The company launched its first global marketing campaign "Repair, Don't Replace" to reinforce its sustainability messaging and drive brand awareness. On the operational side, WD-40 has been implementing a comprehensive ERP system rollout across its global operations, with the system now deployed across 50% of the business. This $10 million investment is expected to drive operational efficiencies and better data analytics capabilities. The company has also made significant commitments to sustainability, targeting a 50% reduction in Scope 1 and 2 emissions by 2030 and conducting comprehensive environmental assessments of its supplier base. These initiatives align with growing consumer and regulatory focus on environmental responsibility.
WDFC company profile · for informational purposes only — not investment advice.
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