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Church & Dwight (CHD) FY2025 results: revenue $6.2 billion, up 1.6% on the year

Church & Dwight Co. Inc. (CHD) reported revenue of $6.2 billion for fiscal 2025, the year ended 31 December 2025, up 1.6% on the year before. Net income was $737 million, up 25.9%, and diluted earnings per share $3.02. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2026.

Revenue
$6.2 billion
+1.6% on the year
FY2018FY2025
Operating margin
17.4%
13.2% a year earlier
FY2018FY2025
Net income
$737 million
+25.9% on the year
FY2018FY2025
Diluted EPS
$3.02
+27.4% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 1 raised, 1 narrowed, 18 new.

  • Q4 net sales above prior expectation: Q4 net sales were $1,644.2 million, up 3.9% year over year, above the company's prior expectation of 3.5% growth.
  • Q4 organic growth below expectation: Organic sales rose 0.7% in Q4 against about 1.5% expected. Management cited weaker category growth and lower vitamin sales. Excluding the exited VMS business, organic growth was 1.8%.
  • Full-year adjusted EPS $3.53: Full-year reported EPS was $3.02, up 27.4% against a prior year that included a $270.1 million non-cash vitamin charge. Adjusted EPS was $3.53, up 2.6%.
  • Launches to drive half of growth: Management expects 2026 new product launches to drive about half of organic growth, across a number of key categories.
  • Three growth initiatives announced: Management announced three incremental initiatives: ARM & HAMMER brand expansion, oral care growth behind THERABREATH, and international expansion with an acquisition focus.
Read the Q4 FY2025 earnings call summary

From this 10-K

Church & Dwight develops, makes and markets household and personal care products, plus specialty products for animal and food production, chemicals and cleaners. It was founded in 1846 and incorporated in Delaware in 1925. The brands include ARM & HAMMER baking soda, cat litter, laundry detergent and carpet deodoriser, OXICLEAN stain removers, BATISTE dry shampoo, WATERPIK water flossers, THERABREATH oral care, HERO acne treatments, TOUCHLAND hand sanitisers, TROJAN condoms, FIRST RESPONSE pregnancy tests, NAIR depilatories, ORAJEL oral analgesic, XTRA detergent and ZICAM cold products. Seven of them are designated power brands, because they compete in large categories: ARM & HAMMER, OXICLEAN, BATISTE, WATERPIK, THERABREATH, HERO and TOUCHLAND, and together they account for approximately 70 percent of net sales and profits. There are three segments: Consumer Domestic, Consumer International and the Specialty Products Division.

Church & Dwight Co. Inc., the 10-K for 2025

Church & Dwight develops, makes and markets household and personal care products, plus specialty products for animal and food production, chemicals and cleaners. It was founded in 1846 and incorporated in Delaware in 1925. The brands include ARM & HAMMER baking soda, cat litter, laundry detergent and carpet deodoriser, OXICLEAN stain removers, BATISTE dry shampoo, WATERPIK water flossers, THERABREATH oral care, HERO acne treatments, TOUCHLAND hand sanitisers, TROJAN condoms, FIRST RESPONSE pregnancy tests, NAIR depilatories, ORAJEL oral analgesic, XTRA detergent and ZICAM cold products. Seven of them are designated power brands, because they compete in large categories: ARM & HAMMER, OXICLEAN, BATISTE, WATERPIK, THERABREATH, HERO and TOUCHLAND, and together they account for approximately 70 percent of net sales and profits. There are three segments: Consumer Domestic, Consumer International and the Specialty Products Division.

Consumer Domestic

Household products were approximately 54 percent of Consumer Domestic sales and approximately 41 percent of consolidated net sales in 2025: detergents under ARM & HAMMER, OXICLEAN and XTRA, fabric softener sheets and cat litter under ARM & HAMMER, and cleaners under CLEAN SHOWER, ORANGE GLO and OXICLEAN. Laundry detergent is the largest consumer business measured by net sales. The company reports ARM & HAMMER Baking Soda as the leading baking soda brand on consumer recognition, and has extended baking soda into products such as FRIDGE FRESH, a refrigerator deodoriser with a baking soda filter, and carpet deodoriser. Personal care makes up the rest of the segment.

Consumer International

This segment sells personal care, household and over-the-counter products through subsidiaries in Australia, Canada, France, Germany, Japan, Mexico, China and the United Kingdom, and exports to over 100 countries through a global markets group using third-party distributors. It was approximately 18 percent of consolidated net sales in 2025, with Europe at 24 percent of the segment, Canada 23 percent, Mexico 8 percent and Australia 7 percent, and no product line above 20 percent of international net sales. Several domestic power brands travel, alongside local ones: STERIMAR and FEMFRESH exported from the United Kingdom, CURASH baby care in Australia, GRAVOL anti-nauseant and RUB-A535 analgesic in Canada, ANUSOL haemorrhoid medications from the United Kingdom, Canada and Australia.

Specialty Products

The specialty chemicals business sells sodium bicarbonate in a range of grades for industrial use: leavening for commercial baking, an antacid in pharmaceuticals, a carbon dioxide release agent in fire extinguishers, an alkaline agent in pool chemicals and a buffer in kidney dialysis. There is also an animal nutrition line. The company is an equal partner with Occidental Chemical in Armand Products Company, which makes potassium carbonate and bicarbonate for agriculture, specialty glass and ceramics and potassium silicates, plus a feed additive Church & Dwight sells to dairy farmers; Armand sits in equity in earnings of affiliates, not in a reportable segment. A separate line of cleaning and deodorising products serves commercial and industrial buildings, hotels and restaurants.

Three portfolio changes in 2025

On 16 July 2025 the company bought Touchland Holding Corp, the developer of TOUCHLAND hand sanitisers, paying $656.0 million net of cash acquired at closing, with a further $159.0 million payable in the first half of 2026 against 2025 net sales thresholds and $5.0 million deferred against indemnity obligations, plus rights for the founder to $50.0 million of stock vesting over two years. Touchland's net sales for 2024 were approximately $115.0 million. On 1 May 2025 it announced it would exit the Flawless, Spinbrush and Waterpik showerhead businesses, approximately $118.0 million of net sales in 2025, and did so by the year end, taking a pre-tax charge of $45.6 million for impairments and inventory valuation. On 31 December 2025 it completed the sale of the VitaFusion and L'il Critters vitamin brands to Piping Rock Health Products, with the trademarks, licences and the sites in Vancouver and Ridgefield, Washington; until then that business had been an eighth power brand.

How it sells, and people

Consumer products go through supermarkets, mass merchandisers, wholesale clubs, drugstores, convenience stores, home stores, discount stores, pet and other specialty stores and online channels; specialty products go to industrial customers, livestock producers and distributors. There were approximately 5,550 employees worldwide at the end of 2025, approximately 200 fewer than a year earlier, with approximately 85 percent in the Americas, 11 percent in Europe, the Middle East and Africa and 4 percent in the Asia-Pacific region, about 55 percent salaried and 45 percent hourly. Turnover during 2025 was approximately 17 percent.

From Church & Dwight's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 12 February 2026: read the full 10-K.

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue6,2036,1075,868+1.6%
Cost of revenue3,4283,3173,279+3.4%
Gross profit2,7752,7902,588-0.5%
Gross margin44.7%45.7%44.1%
Research and development146140122+4.2%
Selling, general and administrative988928890+6.5%
Operating income1,0788071,057+33.5%
Operating margin17.4%13.2%18.0%
Interest expense95.295.0111+0.2%
Pre-tax income957756967+26.5%
Income tax220171212+28.7%
Effective tax rate23.0%22.6%21.9%
Net income737585756+25.9%
Net margin11.9%9.6%12.9%
Diluted EPS$3.02$2.37$3.05+27.4%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow1,2151,1561,031+5.1%
Capital expenditure122180224-31.9%
Free cash flow1,093976807+11.9%
Free cash flow margin17.6%16.0%13.8%
Cash from investing-617-183-234
Cash from financing-1,162-343-726
Depreciation and amortisation247239225+3.5%
Share-based compensation58.059.263.6-2.0%
Buybacks9000.0300
Dividends paid287277266+3.7%
Dividend per share$1.18$1.13$1.09+4.4%
Diluted shares, weighted244m247m248m-1.1%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity4,0024,3613,855-8.2%
Short-term borrowings0.00.03.9
Debt2,2052,2052,402+0.0%
Operating lease liabilities153168175-9.2%
Other liabilities2,5522,1492,133+18.7%
Total liabilities and equity8,9128,8838,569+0.3%
Fixed assets823932928-11.7%
Goodwill2,6282,4332,432+8.0%
Intangible assets3,5122,8883,302+21.6%
Cash and equivalents409964344-57.6%
Receivables593601527-1.2%
Inventory535613613-12.8%
Other assets413452423-8.4%
Total assets8,9128,8838,569+0.3%

10-K for the year ended 31 December 2025, filed 12 February 2026: the filing.