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Side-by-side financial comparison of ENERGIZER HOLDINGS, INC. (ENR) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
ENERGIZER HOLDINGS, INC. is the larger business by last-quarter revenue ($778.9M vs $625.1M, roughly 1.2× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs -0.4%, a 13.8% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 6.5%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $124.2M). Over the past eight quarters, ENERGIZER HOLDINGS, INC.'s revenue compounded faster (8.4% CAGR vs 4.6%).
Energizer Holdings, Inc. is an American manufacturer and one of the world's largest manufacturers of batteries, headquartered in Clayton, Missouri. It produces batteries under the Energizer, Ray-O-Vac, Varta, and Eveready brand names and formerly owned several personal care businesses until it separated that side of the business into a new company called Edgewell Personal Care in 2015.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
ENR vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $778.9M | $625.1M |
| Net Profit | $-3.4M | $83.7M |
| Gross Margin | 32.9% | 49.5% |
| Operating Margin | -0.6% | 18.2% |
| Net Margin | -0.4% | 13.4% |
| Revenue YoY | 6.5% | 15.7% |
| Net Profit YoY | -115.2% | 24.0% |
| EPS (diluted) | — | $2.50 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $778.9M | $625.1M | ||
| Q3 25 | $832.8M | $611.7M | ||
| Q2 25 | $725.3M | $643.7M | ||
| Q1 25 | $662.9M | $558.0M | ||
| Q4 24 | $731.7M | $540.4M | ||
| Q3 24 | $805.7M | $543.6M | ||
| Q2 24 | $701.4M | $597.3M | ||
| Q1 24 | $663.3M | $570.9M |
| Q4 25 | $-3.4M | $83.7M | ||
| Q3 25 | $34.9M | $82.2M | ||
| Q2 25 | $153.5M | $100.9M | ||
| Q1 25 | $28.3M | $74.0M | ||
| Q4 24 | $22.3M | $67.5M | ||
| Q3 24 | $47.6M | $69.1M | ||
| Q2 24 | $-43.8M | $82.0M | ||
| Q1 24 | $32.4M | $72.6M |
| Q4 25 | 32.9% | 49.5% | ||
| Q3 25 | 36.6% | 48.8% | ||
| Q2 25 | 55.1% | 50.6% | ||
| Q1 25 | 39.1% | 48.8% | ||
| Q4 24 | 36.8% | 46.7% | ||
| Q3 24 | 38.1% | 47.3% | ||
| Q2 24 | 39.5% | 47.7% | ||
| Q1 24 | 38.2% | 46.9% |
| Q4 25 | -0.6% | 18.2% | ||
| Q3 25 | 6.4% | 18.2% | ||
| Q2 25 | 22.6% | 21.0% | ||
| Q1 25 | 5.5% | 15.7% | ||
| Q4 24 | 4.1% | 16.5% | ||
| Q3 24 | 7.4% | 17.1% | ||
| Q2 24 | -8.2% | 18.7% | ||
| Q1 24 | 6.4% | 16.9% |
| Q4 25 | -0.4% | 13.4% | ||
| Q3 25 | 4.2% | 13.4% | ||
| Q2 25 | 21.2% | 15.7% | ||
| Q1 25 | 4.3% | 13.3% | ||
| Q4 24 | 3.0% | 12.5% | ||
| Q3 24 | 5.9% | 12.7% | ||
| Q2 24 | -6.2% | 13.7% | ||
| Q1 24 | 4.9% | 12.7% |
| Q4 25 | — | $2.50 | ||
| Q3 25 | — | $2.45 | ||
| Q2 25 | — | $3.01 | ||
| Q1 25 | — | $2.21 | ||
| Q4 24 | — | $2.02 | ||
| Q3 24 | — | $2.06 | ||
| Q2 24 | — | $2.44 | ||
| Q1 24 | — | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $214.8M | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $141.3M | $2.0B |
| Total Assets | $4.4B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $214.8M | $405.5M | ||
| Q3 25 | $236.2M | $457.7M | ||
| Q2 25 | $171.1M | $369.3M | ||
| Q1 25 | $139.3M | $336.8M | ||
| Q4 24 | $195.9M | $386.9M | ||
| Q3 24 | $216.9M | $303.9M | ||
| Q2 24 | $146.7M | $279.4M | ||
| Q1 24 | $158.1M | $237.1M |
| Q4 25 | — | — | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $3.2B | — |
| Q4 25 | $141.3M | $2.0B | ||
| Q3 25 | $169.9M | $2.0B | ||
| Q2 25 | $183.2M | $1.9B | ||
| Q1 25 | $133.9M | $1.8B | ||
| Q4 24 | $140.6M | $1.7B | ||
| Q3 24 | $135.8M | $1.7B | ||
| Q2 24 | $123.4M | $1.6B | ||
| Q1 24 | $191.3M | $1.6B |
| Q4 25 | $4.4B | $2.9B | ||
| Q3 25 | $4.6B | $2.7B | ||
| Q2 25 | $4.5B | $2.6B | ||
| Q1 25 | $4.2B | $2.5B | ||
| Q4 24 | $4.2B | $2.4B | ||
| Q3 24 | $4.3B | $2.4B | ||
| Q2 24 | $4.2B | $2.4B | ||
| Q1 24 | $4.3B | $2.3B |
| Q4 25 | — | — | ||
| Q3 25 | 20.28× | — | ||
| Q2 25 | 17.57× | — | ||
| Q1 25 | 23.56× | — | ||
| Q4 24 | 22.17× | — | ||
| Q3 24 | 23.51× | — | ||
| Q2 24 | 26.04× | — | ||
| Q1 24 | 16.86× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $149.5M | $154.7M |
| Free Cash FlowOCF − Capex | $124.2M | $140.3M |
| FCF MarginFCF / Revenue | 15.9% | 22.4% |
| Capex IntensityCapex / Revenue | 3.2% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $145.0M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $149.5M | $154.7M | ||
| Q3 25 | $61.5M | $122.4M | ||
| Q2 25 | $21.4M | $69.7M | ||
| Q1 25 | $-12.8M | $55.2M | ||
| Q4 24 | $77.0M | $139.5M | ||
| Q3 24 | $168.9M | $90.7M | ||
| Q2 24 | $45.8M | $85.3M | ||
| Q1 24 | $36.8M | $45.6M |
| Q4 25 | $124.2M | $140.3M | ||
| Q3 25 | $46.7M | $110.9M | ||
| Q2 25 | $7.9M | $59.5M | ||
| Q1 25 | $-33.8M | $45.6M | ||
| Q4 24 | $42.4M | $127.5M | ||
| Q3 24 | $141.5M | $84.3M | ||
| Q2 24 | $27.3M | $78.5M | ||
| Q1 24 | $10.3M | $35.5M |
| Q4 25 | 15.9% | 22.4% | ||
| Q3 25 | 5.6% | 18.1% | ||
| Q2 25 | 1.1% | 9.2% | ||
| Q1 25 | -5.1% | 8.2% | ||
| Q4 24 | 5.8% | 23.6% | ||
| Q3 24 | 17.6% | 15.5% | ||
| Q2 24 | 3.9% | 13.1% | ||
| Q1 24 | 1.6% | 6.2% |
| Q4 25 | 3.2% | 2.3% | ||
| Q3 25 | 1.8% | 1.9% | ||
| Q2 25 | 1.9% | 1.6% | ||
| Q1 25 | 3.2% | 1.7% | ||
| Q4 24 | 4.7% | 2.2% | ||
| Q3 24 | 3.4% | 1.2% | ||
| Q2 24 | 2.6% | 1.1% | ||
| Q1 24 | 4.0% | 1.8% |
| Q4 25 | — | 1.85× | ||
| Q3 25 | 1.76× | 1.49× | ||
| Q2 25 | 0.14× | 0.69× | ||
| Q1 25 | -0.45× | 0.75× | ||
| Q4 24 | 3.45× | 2.07× | ||
| Q3 24 | 3.55× | 1.31× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | 1.14× | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENR
| Alkaline Batteries | $666.5M | 86% |
| Auto Care | $93.7M | 12% |
| Lights | $18.7M | 2% |
WTS
Segment breakdown not available.
