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Companies $ENR
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Energizer Holdings, Inc. logo

Energizer Holdings, Inc.

energizerholdings.com

What Do They Do?

Sells household and specialty batteries, auto-care products and portable lights to retailers, distributors and business customers.

How Do They Make Money?

Retailers and other customers pay for shipped products, generally within 30 to 60 days; Auto Care terms can run up to 365 days.

revenue
SegmentShareRevenue
Batteries
Sold outright

76%
FY2022: 75%
Auto Care
Sold outright

21%
FY2022: 20%
Lights
2.9%
FY2022: 4.2%

Who Are Their Customers?

Retail customers include mass merchants, supermarkets, drugstores, and automotive and hardware stores; business-to-business customers include original equipment makers and industrial, medical, office and hearing-aid buyers. A direct sales force works alongside third-party distributors and wholesalers.

Customers above 10% of revenue, FY2025
of revenue from one customer
FY2023: 14% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 8 cents of every revenue dollar as net income in FY2025 and turned 2 cents into free cash flow.

Operating income, FY2025
23% of revenue
▲ +22% vs FY2024 ($546.4M, 19%)
Net income, FY2025
8% of revenue
▲ +527% vs FY2024 ($38.1M, 1%)
Free cash flow, FY2025
2% of revenue
▼ −81% vs FY2024 ($331.7M, 11%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q3 FY2026, the three months to Jun 30, 2026
Revenue
▲ +1%
vs $725.3M in Q3 FY2025
Net income
▼ −74%
vs $153.5M in Q3 FY2025
Batteries share of revenue vs 71.1% in Q3 FY2025

Flat. Revenue was $3B in FY2025, about the same as the $3B of FY2021.

Auto-care brand range Centralsul appears in the current auto-care brand range, while the earlier range lists other brands without it.

Revenue over time
Batteries Auto Care Lights
$5B$2.5B$0

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