Energizer Holdings (ENR)
NYSE:ENR
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Energizer Holdings
(NYSE:ENR)
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Rating:68Neutral
Price Target:
$18.00
▲(4.41% Upside)
Action:ReiteratedDate:02/06/26
The score is driven by attractive valuation (low P/E and high dividend) and constructive earnings-call guidance for margin recovery and debt paydown, supported by positive technical momentum. The main offset is elevated balance-sheet risk from very high leverage and a thin equity base, with cash-flow consistency also a concern.
Positive Factors
Margin recovery & profitability
A demonstrable rebound in gross and net margins, backed by quantified near‑term targets, implies structural improvements in sourcing, pricing and mix. Sustained margin expansion strengthens free cash flow and resilience versus cost shocks, underpinning multi‑quarter earnings recovery.
Negative Factors
Very high leverage
Extremely high leverage materially increases financial vulnerability to demand or margin setbacks. Even with planned paydown, limited equity and elevated gross debt constrain flexibility for investment, raise refinancing risk, and amplify downside in a multi‑quarter slowdown.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin recovery & profitability
A demonstrable rebound in gross and net margins, backed by quantified near‑term targets, implies structural improvements in sourcing, pricing and mix. Sustained margin expansion strengthens free cash flow and resilience versus cost shocks, underpinning multi‑quarter earnings recovery.
Read all positive factors
Energizer Holdings (ENR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.18B
Dividend Yield6.02%
Average Volume (3M)1.24M
Price to Earnings (P/E)―
Beta (1Y)0.83
Revenue Growth2.28%
EPS Growth534.60%
CountryUS
Employees5,600
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.31
Shares Outstanding68,468,760
10 Day Avg. Volume1,305,481
30 Day Avg. Volume1,238,913
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)10.39
Price to Sales (P/S)0.60
P/FCF Ratio27.92
Enterprise Value/Market Cap3.79
Enterprise Value/Revenue1.49
Enterprise Value/Gross Profit3.73
Enterprise Value/Ebitda8.11
Forecast
1Y Price Target
$23.00Price Target Upside33.41% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)3.32
Revenue Forecast (FY)$3.08B
Energizer Holdings Business Overview & Revenue Model
Company Description
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, a...
How the Company Makes Money
Energizer makes money mainly by manufacturing, marketing, and selling branded consumer products to retailers, distributors, and other wholesale customers, with revenue recognized from product sales. Its largest revenue stream is the Energizer segm...
Energizer Holdings Key Performance Indicators (KPIs)
Energizer Holdings Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:May 11, 2026
Earnings Call Sentiment Positive
The call portrays a constructive, recovery-focused outlook: management acknowledged meaningful Q1 margin and cost headwinds (tariffs, transition inventory, temporary operational inefficiencies and some input-cost pressure) but presented a clear, actionable plan—APS transition benefits (~$30M), distribution expansion, product innovation, supply-chain realignment, tax credit upside (~+50% vs prior year) and strong cash generation (>$100M debt paydown, ~$28M returned)—that management expects will drive sequential gross margin improvement (≈300 bps Q1→Q2 and another ~300–400 bps by year-end) and a return to earnings growth in H2. Given the emphasis that many of the Q1 issues are transitional and management’s quantified pathway to recovery, the positives materially outweigh the transitory negatives.Positive Updates
APS-to-Energizer Transition Driving Organic Growth
Secured final customer decisions on the APS to Energizer brand transition expected to contribute over $30 million of organic growth (roughly +200 basis points) principally in Q3–Q4 of FY2026.
Negative Updates
Q1 Gross Margin Pressure from Tariffs
Elevated tariff-related costs materially pressured Q1 gross margin with management citing roughly a 300 basis point tariff impact in the quarter; company estimates a run-rate tariff cost around $60–$70 million that should improve through the year.
Read all updates
Q1-2026 Updates
Positive
Negative
APS-to-Energizer Transition Driving Organic Growth
Secured final customer decisions on the APS to Energizer brand transition expected to contribute over $30 million of organic growth (roughly +200 basis points) principally in Q3–Q4 of FY2026.
Read all positive updates
Company Guidance
Energizer said Q1 of FY2026 was transitional but reaffirmed guidance for meaningful improvement: management expects ~300 basis points of gross margin expansion Q1→Q2 and an additional ~300–400 bps by year‑end, moving margins back into the low‑40% range; Q1 headwinds included roughly a 300‑bp tariff impact (about $60–70M), a ~200‑bp drag from the APS/Panasonic sell‑through (~$65M), ~100 bps of transitional product costs and an ~80‑bp input‑cost drag. The APS→Energizer shift is expected to add >$30M of organic growth (~200 bps) largely in Q3–Q4, with another 400–500 bps of back‑half top‑line benefit from increased distribution/innovation and 50–100 bps from carryover/tactical pricing, while tax credits are expected to be ~50% above last year. Cash generation in Q1 funded >$100M of debt paydown (targeting $150–200M for the full year), nearly $28M returned to shareholders, a leverage target of ~5% (or slightly below) by year‑end, and key commodity positioning (e.g., zinc >90% fixed for 2026).Energizer Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
24
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.00B | 2.95B | 2.89B | 2.96B | 3.05B | 3.02B |
| Gross Profit | 1.20B | 1.20B | 1.10B | 1.09B | 1.06B | 1.18B |
| EBITDA | 552.10M | 587.20M | 330.00M | 493.10M | -28.00M | 427.80M |
| Net Income | 213.30M | 239.00M | 38.10M | 140.50M | -231.50M | 160.90M |
Balance Sheet | ||||||
| Total Assets | 4.44B | 4.56B | 4.34B | 4.51B | 4.57B | 5.01B |
| Cash, Cash Equivalents and Short-Term Investments | 214.80M | 236.20M | 216.90M | 223.30M | 205.30M | 238.90M |
| Total Debt | 3.51B | 3.53B | 3.31B | 3.45B | 3.62B | 3.57B |
| Total Liabilities | 4.30B | 4.39B | 4.21B | 4.30B | 4.44B | 4.65B |
| Stockholders Equity | 141.30M | 169.90M | 135.80M | 210.70M | 130.60M | 355.70M |
Cash Flow | ||||||
| Free Cash Flow | 145.00M | 63.20M | 331.70M | 338.40M | -91.50M | 114.80M |
| Operating Cash Flow | 219.60M | 147.10M | 429.60M | 395.20M | 1.00M | 179.70M |
| Investing Cash Flow | -88.80M | -98.20M | -114.00M | -56.10M | -90.90M | -126.40M |
| Financing Cash Flow | -118.80M | -29.10M | -300.30M | -309.40M | 79.10M | -1.07B |
Energizer Holdings Technical Analysis
Negative
17.24
Price Trends
20.24
Negative
20.17
Negative
22.14
Negative
Market Momentum
-1.10
Negative
38.00
Neutral
34.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ENR, the sentiment is Negative. The current price of 17.24 is below the 20-day moving average (MA) of 17.96, below the 50-day MA of 20.24, and below the 200-day MA of 22.14, indicating a bearish trend. The MACD of -1.10 indicates Negative momentum. The RSI at 38.00 is Neutral, neither overbought nor oversold. The STOCH value of 34.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ENR.
Energizer Holdings Risk Analysis
Energizer Holdings disclosed 36 risk factors in its most recent earnings report. Energizer Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Energizer Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $6.24B | 15.10 | 16.61% | 0.67% | 6.17% | 20.86% | |
68 Neutral | $1.18B | -100.04 | 135.79% | 6.02% | 2.28% | 534.60% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $2.35B | -10.68 | -49.74% | ― | 234.14% | 42.67% | |
58 Neutral | $481.45M | -31.12 | -7.40% | ― | 19.82% | -7.14% | |
55 Neutral | $2.04B | 36.07 | -3.28% | 2.02% | -10.98% | -103.99% | |
52 Neutral | $1.11B | -10.09 | -0.23% | ― | 45.98% | 44.14% |
* Industrials Sector Average
ENR
Energizer Holdings
17.24
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Energizer Holdings Corporate Events
Business Operations and StrategyFinancial Disclosures
Energizer Holdings posts Q1 sales growth amid margin pressure
Neutral
Feb 5, 2026
On February 5, 2026, Energizer Holdings reported results for its first fiscal quarter ended December 31, 2025, posting a 6.5% year-on-year increase in net sales to $778.9 million, largely fueled by $64.6 million in contribution from the May 2025 A...
Executive/Board ChangesShareholder Meetings
Energizer Holdings reports shareholder approvals and governance updates
Positive
Feb 3, 2026
At its annual meeting of shareholders held on January 30, 2026, Energizer Holdings, Inc. reported that a quorum was present with 62,840,438 of 68,570,616 eligible shares represented, and shareholders elected all management-nominated directors to s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.