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Side-by-side financial comparison of Spectrum Brands Holdings, Inc. (SPB) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
Spectrum Brands Holdings, Inc. is the larger business by last-quarter revenue ($677.0M vs $376.9M, roughly 1.8× TRUPANION, INC.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs -3.3%). Spectrum Brands Holdings, Inc. produced more free cash flow last quarter ($59.3M vs $25.3M). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% CAGR vs -2.9%).
Spectrum Brands Holdings, Inc. is an American multinational consumer products conglomerate headquartered in Middleton, Wisconsin. It was established in 2005 as the successor to Rayovac Corporation.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
SPB vs TRUP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $677.0M | $376.9M |
| Net Profit | $28.4M | — |
| Gross Margin | 35.7% | 17.3% |
| Operating Margin | 4.0% | 1.9% |
| Net Margin | 4.2% | — |
| Revenue YoY | -3.3% | 11.7% |
| Net Profit YoY | 20.9% | — |
| EPS (diluted) | $1.21 | $0.13 |
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 | $677.0M | $376.9M | ||
| Q3 25 | $733.5M | $366.9M | ||
| Q2 25 | $699.6M | $353.6M | ||
| Q1 25 | $675.7M | $342.0M | ||
| Q4 24 | $700.2M | $337.3M | ||
| Q3 24 | $773.8M | $327.5M | ||
| Q2 24 | $779.4M | $314.8M | ||
| Q1 24 | $718.5M | $306.1M |
| Q4 25 | $28.4M | — | ||
| Q3 25 | $55.6M | — | ||
| Q2 25 | $19.9M | — | ||
| Q1 25 | $900.0K | — | ||
| Q4 24 | $23.5M | — | ||
| Q3 24 | $28.5M | — | ||
| Q2 24 | $6.1M | — | ||
| Q1 24 | $61.1M | — |
| Q4 25 | 35.7% | 17.3% | ||
| Q3 25 | 35.0% | 16.4% | ||
| Q2 25 | 37.8% | 15.5% | ||
| Q1 25 | 37.5% | 14.9% | ||
| Q4 24 | 36.8% | 15.7% | ||
| Q3 24 | 37.2% | 15.1% | ||
| Q2 24 | 38.9% | 12.8% | ||
| Q1 24 | 38.1% | 11.8% |
| Q4 25 | 4.0% | 1.9% | ||
| Q3 25 | 4.0% | 1.6% | ||
| Q2 25 | 4.5% | 0.7% | ||
| Q1 25 | 2.9% | -0.4% | ||
| Q4 24 | 6.4% | 0.1% | ||
| Q3 24 | 2.8% | 0.5% | ||
| Q2 24 | 6.1% | -1.7% | ||
| Q1 24 | 10.6% | -2.0% |
| Q4 25 | 4.2% | — | ||
| Q3 25 | 7.6% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 8.5% | — |
| Q4 25 | $1.21 | $0.13 | ||
| Q3 25 | $2.19 | $0.13 | ||
| Q2 25 | $0.80 | $0.22 | ||
| Q1 25 | $0.03 | $-0.03 | ||
| Q4 24 | $0.84 | $0.04 | ||
| Q3 24 | $1.03 | $0.03 | ||
| Q2 24 | $0.21 | $-0.14 | ||
| Q1 24 | $2.01 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $126.6M | $370.7M |
| Total DebtLower is stronger | — | $101.8M |
| Stockholders' EquityBook value | $1.9B | $383.9M |
| Total Assets | $3.4B | $915.0M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $126.6M | $370.7M | ||
| Q3 25 | $123.6M | $348.5M | ||
| Q2 25 | $122.0M | $319.6M | ||
| Q1 25 | $96.0M | $321.8M | ||
| Q4 24 | $179.9M | $307.4M | ||
| Q3 24 | $368.9M | $293.1M | ||
| Q2 24 | $306.8M | $277.2M | ||
| Q1 24 | $1.2B | $275.2M |
| Q4 25 | — | $101.8M | ||
| Q3 25 | $496.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | $496.1M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.9B | $383.9M | ||
| Q3 25 | $1.9B | $368.6M | ||
| Q2 25 | $1.9B | $355.5M | ||
| Q1 25 | $1.9B | $333.7M | ||
| Q4 24 | $2.0B | $323.3M | ||
| Q3 24 | $2.1B | $320.2M | ||
| Q2 24 | $2.1B | $305.8M | ||
| Q1 24 | $2.3B | $303.4M |
| Q4 25 | $3.4B | $915.0M | ||
| Q3 25 | $3.4B | $880.2M | ||
| Q2 25 | $3.5B | $847.8M | ||
| Q1 25 | $3.5B | $837.2M | ||
| Q4 24 | $3.6B | $806.9M | ||
| Q3 24 | $3.8B | $816.1M | ||
| Q2 24 | $3.8B | $795.9M | ||
| Q1 24 | $4.8B | $789.5M |
| Q4 25 | — | 0.27× | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | 0.23× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $67.4M | $29.3M |
| Free Cash FlowOCF − Capex | $59.3M | $25.3M |
| FCF MarginFCF / Revenue | 8.8% | 6.7% |
| Capex IntensityCapex / Revenue | 1.2% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $302.9M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.4M | $29.3M | ||
| Q3 25 | $171.1M | $29.2M | ||
| Q2 25 | $81.8M | $15.0M | ||
| Q1 25 | $23.1M | $16.0M | ||
| Q4 24 | $-72.4M | $23.7M | ||
| Q3 24 | $80.7M | $15.3M | ||
| Q2 24 | $82.7M | $6.9M | ||
| Q1 24 | $3.5M | $2.4M |
| Q4 25 | $59.3M | $25.3M | ||
| Q3 25 | $157.9M | $23.9M | ||
| Q2 25 | $71.8M | $12.0M | ||
| Q1 25 | $13.9M | $14.0M | ||
| Q4 24 | $-78.3M | $21.8M | ||
| Q3 24 | $67.7M | $13.4M | ||
| Q2 24 | $72.6M | $4.0M | ||
| Q1 24 | $-9.0M | $-631.0K |
| Q4 25 | 8.8% | 6.7% | ||
| Q3 25 | 21.5% | 6.5% | ||
| Q2 25 | 10.3% | 3.4% | ||
| Q1 25 | 2.1% | 4.1% | ||
| Q4 24 | -11.2% | 6.5% | ||
| Q3 24 | 8.7% | 4.1% | ||
| Q2 24 | 9.3% | 1.3% | ||
| Q1 24 | -1.3% | -0.2% |
| Q4 25 | 1.2% | 1.0% | ||
| Q3 25 | 1.8% | 1.4% | ||
| Q2 25 | 1.4% | 0.8% | ||
| Q1 25 | 1.4% | 0.6% | ||
| Q4 24 | 0.8% | 0.6% | ||
| Q3 24 | 1.7% | 0.6% | ||
| Q2 24 | 1.3% | 0.9% | ||
| Q1 24 | 1.7% | 1.0% |
| Q4 25 | 2.37× | — | ||
| Q3 25 | 3.08× | — | ||
| Q2 25 | 4.11× | — | ||
| Q1 25 | 25.67× | — | ||
| Q4 24 | -3.08× | — | ||
| Q3 24 | 2.83× | — | ||
| Q2 24 | 13.56× | — | ||
| Q1 24 | 0.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SPB
| HPC Segment | $321.5M | 47% |
| Global Pet Supplies | $168.7M | 25% |
| Home And Personal Care | $109.8M | 16% |
| HG Segment | $73.9M | 11% |
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
