01—Abstract
Summary
Summary of the 10-K filed February 12, 2026. Cited figures are marked; the original filing is the authoritative source.
Church & Dwight Co., Inc. (CHD) reported a 1.6% increase in net sales for the fiscal year ended December 31, 2025, reaching $6.2 billiona.
This growth was driven by contributions from the Consumer Domestic and Consumer International segments, partially offset by divestitures and unfavorable foreign currency exchange rates. The company completed the acquisition of Touchland Holding Corp. for $656 millionb, enhancing its personal care portfolio. Strategic actions in 2025 included exiting the Flawless, Spinbrush, and Waterpik showerhead businesses, aiming to focus on faster-growing, premium product lines.
The company also divested its VitaFusion and L'il Critters (VMS) business, which represented less than 5%c of net sales. Despite a decrease in gross margin due to exit costs and prior year tariff refunds, operating margin improved significantly due to the absence of a large impairment charge recorded in the prior year. Diluted EPS saw a substantial increase, driven by higher net income and the strategic repositioning of the business.
02—Key points
Key Highlights
- Net sales increased by 1.6% to $6.2 billion in fiscal year 2025, driven by acquisitions and growth in key segments.
- Acquired Touchland Holding Corp. for $656 million to bolster its hand sanitizer product line.
- Exited Flawless, Spinbrush, and Waterpik showerhead businesses, and divested the VitaFusion and L'il Critters (VMS) business to focus on core growth areas.
- Operating margin improved significantly to 17.4% in 2025, largely due to the absence of a substantial impairment charge recorded in the prior year.
- Diluted earnings per share (EPS) increased by 27.4% to $3.02, with adjusted EPS also showing growth.
- Returned $1.19 billion to stockholders through share repurchases ($900 million) and dividends ($287.2 million).
- Maintains a strong liquidity position with $409 million in cash and cash equivalents and significant availability under its revolving credit facility.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2025, Church & Dwight Co Inc kept $0.12.
- Revenue$6.20B100.0%
- Cost of revenue−$3.43B55.3%
- Gross profit$2.77B44.7%
- Operating costs−$1.70B27.4%
- Operating income$1.08B17.4%
- Interest, other & tax−$340.8M5.5%
- Net income$736.8M11.9%
Where FY2025 revenue went
$6.20B- Cost of revenue: $3.43B, 55% of revenue
- SG&A: $988.3M, 16% of revenue
- Net income: $736.8M, 12% of revenue
- R&D: $145.6M, 2.3% of revenue
- Other operating costs: $563.3M, 9.1% of revenue
- Interest, other & tax: $340.8M, 5.5% of revenue
Kept 12% as net incomeR&D $145.6M · 2.3%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 12, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $6.20B$6.11B | +1.6% |
| Cost of Revenue | $3.43B$3.32B | +3.4% |
| Gross Profit | $2.77B$2.79B | −0.5% |
| R&D Expenses | $145.60M$139.70M | +4.2% |
| SG&A Expenses | $988.30M$927.80M | +6.5% |
| Operating Income | $1.08B$807.10M | +33.5% |
| Interest Expense | $95.20M$95.00M | +0.2% |
| Net Income | $736.80M$585.30M | +25.9% |
| EPS (Basic) | $3.04$2.39 | +27.2% |
| EPS (Diluted) | $3.02$2.37 | +27.4% |
| Shares Outstanding (Basic) | 242.70M244.40M | −0.7% |
| Shares Outstanding (Diluted) | 244.30M246.90M | −1.1% |
05—Questions
Frequently Asked Questions
What were the key strategic moves made by Church & Dwight in 2025?
In 2025, Church & Dwight made significant strategic moves including the acquisition of Touchland Holding Corp., the exit from the Flawless, Spinbrush, and Waterpik showerhead businesses, and the divestiture of its VitaFusion and L'il Critters (VMS) business. These actions are aimed at focusing the company's portfolio on faster-growing, premium product lines.
How did the company's profitability change in 2025?
The company experienced a significant improvement in operating margin, rising to 17.4% in 2025 from 13.3% in 2024. This was largely due to the absence of a $357.1 million non-cash impairment charge related to the VMS business in 2024. Despite a slight decrease in gross margin, primarily due to business exit costs, the overall profitability saw a substantial boost.
What is the company's financial outlook and liquidity situation?
Church & Dwight ended 2025 with $409 million in cash and cash equivalents and had access to approximately $1.99 billion through its revolving credit facility and commercial paper program, indicating a strong liquidity position. The company anticipates its cash flow from operations, combined with its borrowing capacity, will be sufficient to fund its operations, capital expenditures, debt obligations, dividends, and potential future acquisitions.
How has the company managed its brand portfolio?
The company has strategically divested from underperforming or non-core brands and businesses, such as the VMS business and specific product lines from Waterpik, Flawless, and Spinbrush. Simultaneously, it has focused on strengthening its 'power brands' like ARM & HAMMER®, OXICLEAN®, BATISTE®, WATERPIK®, THERABREATH®, HERO®, and TOUCHLAND®, which represent approximately 70% of its net sales and profits.
06—Continue