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Side-by-side financial comparison of Spectrum Brands Holdings, Inc. (SPB) and WOLVERINE WORLD WIDE INC (WWW). 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 $517.5M, roughly 1.3× WOLVERINE WORLD WIDE INC). WOLVERINE WORLD WIDE INC runs the higher net margin — 6.1% vs 4.2%, a 1.9% gap on every dollar of revenue. On growth, WOLVERINE WORLD WIDE INC posted the faster year-over-year revenue change (25.5% vs -3.3%). WOLVERINE WORLD WIDE INC produced more free cash flow last quarter ($145.6M vs $59.3M). Over the past eight quarters, WOLVERINE WORLD WIDE INC's revenue compounded faster (14.5% 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.
Wolverine World Wide is a global designer, manufacturer and marketer of branded footwear, apparel and accessories. It owns popular brands including Merrell, Sperry, Saucony and Hush Puppies, serving outdoor, casual, workwear and athletic segments via e-commerce, retail stores and global wholesale networks.
SPB vs WWW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $677.0M | $517.5M |
| Net Profit | $28.4M | $31.8M |
| Gross Margin | 35.7% | 47.3% |
| Operating Margin | 4.0% | 9.7% |
| Net Margin | 4.2% | 6.1% |
| Revenue YoY | -3.3% | 25.5% |
| Net Profit YoY | 20.9% | 162.8% |
| EPS (diluted) | $1.21 | $0.37 |
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.
| Q1 26 | — | $517.5M | ||
| Q4 25 | $677.0M | — | ||
| Q3 25 | $733.5M | $470.3M | ||
| Q2 25 | $699.6M | $474.2M | ||
| Q1 25 | $675.7M | $412.3M | ||
| Q4 24 | $700.2M | $494.7M | ||
| Q3 24 | $773.8M | $440.2M | ||
| Q2 24 | $779.4M | $425.2M |
| Q1 26 | — | $31.8M | ||
| Q4 25 | $28.4M | — | ||
| Q3 25 | $55.6M | $25.1M | ||
| Q2 25 | $19.9M | $26.8M | ||
| Q1 25 | $900.0K | $12.1M | ||
| Q4 24 | $23.5M | $23.1M | ||
| Q3 24 | $28.5M | $23.2M | ||
| Q2 24 | $6.1M | $13.8M |
| Q1 26 | — | 47.3% | ||
| Q4 25 | 35.7% | — | ||
| Q3 25 | 35.0% | 47.5% | ||
| Q2 25 | 37.8% | 47.2% | ||
| Q1 25 | 37.5% | 47.2% | ||
| Q4 24 | 36.8% | 43.4% | ||
| Q3 24 | 37.2% | 45.1% | ||
| Q2 24 | 38.9% | 43.1% |
| Q1 26 | — | 9.7% | ||
| Q4 25 | 4.0% | — | ||
| Q3 25 | 4.0% | 8.4% | ||
| Q2 25 | 4.5% | 8.6% | ||
| Q1 25 | 2.9% | 4.8% | ||
| Q4 24 | 6.4% | 7.4% | ||
| Q3 24 | 2.8% | 7.9% | ||
| Q2 24 | 6.1% | 6.8% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 4.2% | — | ||
| Q3 25 | 7.6% | 5.3% | ||
| Q2 25 | 2.8% | 5.7% | ||
| Q1 25 | 0.1% | 2.9% | ||
| Q4 24 | 3.4% | 4.7% | ||
| Q3 24 | 3.7% | 5.3% | ||
| Q2 24 | 0.8% | 3.2% |
| Q1 26 | — | $0.37 | ||
| Q4 25 | $1.21 | — | ||
| Q3 25 | $2.19 | $0.30 | ||
| Q2 25 | $0.80 | $0.32 | ||
| Q1 25 | $0.03 | $0.15 | ||
| Q4 24 | $0.84 | $0.29 | ||
| Q3 24 | $1.03 | $0.28 | ||
| Q2 24 | $0.21 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $126.6M | — |
| Total DebtLower is stronger | — | $621.7M |
| Stockholders' EquityBook value | $1.9B | $408.0M |
| Total Assets | $3.4B | $1.7B |
| Debt / EquityLower = less leverage | — | 1.52× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $126.6M | — | ||
| Q3 25 | $123.6M | — | ||
| Q2 25 | $122.0M | — | ||
| Q1 25 | $96.0M | — | ||
| Q4 24 | $179.9M | — | ||
| Q3 24 | $368.9M | — | ||
| Q2 24 | $306.8M | — |
| Q1 26 | — | $621.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | $496.1M | $676.4M | ||
| Q2 25 | — | $708.5M | ||
| Q1 25 | — | $710.8M | ||
| Q4 24 | — | $648.0M | ||
| Q3 24 | $496.1M | $702.8M | ||
| Q2 24 | — | $814.7M |
| Q1 26 | — | $408.0M | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.9B | $376.7M | ||
| Q2 25 | $1.9B | $344.0M | ||
| Q1 25 | $1.9B | $310.6M | ||
| Q4 24 | $2.0B | $312.9M | ||
| Q3 24 | $2.1B | $295.2M | ||
| Q2 24 | $2.1B | $262.1M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $3.4B | — | ||
| Q3 25 | $3.4B | $1.7B | ||
| Q2 25 | $3.5B | $1.8B | ||
| Q1 25 | $3.5B | $1.7B | ||
| Q4 24 | $3.6B | $1.7B | ||
| Q3 24 | $3.8B | $1.8B | ||
| Q2 24 | $3.8B | $1.8B |
| Q1 26 | — | 1.52× | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.26× | 1.80× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.29× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | 0.23× | 2.38× | ||
| Q2 24 | — | 3.11× |
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 | $146.2M |
| Free Cash FlowOCF − Capex | $59.3M | $145.6M |
| FCF MarginFCF / Revenue | 8.8% | 28.1% |
| Capex IntensityCapex / Revenue | 1.2% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.37× | 4.60× |
| TTM Free Cash FlowTrailing 4 quarters | $302.9M | $125.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $146.2M | ||
| Q4 25 | $67.4M | — | ||
| Q3 25 | $171.1M | $33.0M | ||
| Q2 25 | $81.8M | $44.6M | ||
| Q1 25 | $23.1M | $-83.8M | ||
| Q4 24 | $-72.4M | $82.4M | ||
| Q3 24 | $80.7M | $108.2M | ||
| Q2 24 | $82.7M | $26.7M |
| Q1 26 | — | $145.6M | ||
| Q4 25 | $59.3M | — | ||
| Q3 25 | $157.9M | $30.1M | ||
| Q2 25 | $71.8M | $41.2M | ||
| Q1 25 | $13.9M | $-91.4M | ||
| Q4 24 | $-78.3M | $74.4M | ||
| Q3 24 | $67.7M | $104.1M | ||
| Q2 24 | $72.6M | $23.7M |
| Q1 26 | — | 28.1% | ||
| Q4 25 | 8.8% | — | ||
| Q3 25 | 21.5% | 6.4% | ||
| Q2 25 | 10.3% | 8.7% | ||
| Q1 25 | 2.1% | -22.2% | ||
| Q4 24 | -11.2% | 15.0% | ||
| Q3 24 | 8.7% | 23.6% | ||
| Q2 24 | 9.3% | 5.6% |
| Q1 26 | — | 0.1% | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.8% | 0.6% | ||
| Q2 25 | 1.4% | 0.7% | ||
| Q1 25 | 1.4% | 1.8% | ||
| Q4 24 | 0.8% | 1.6% | ||
| Q3 24 | 1.7% | 0.9% | ||
| Q2 24 | 1.3% | 0.7% |
| Q1 26 | — | 4.60× | ||
| Q4 25 | 2.37× | — | ||
| Q3 25 | 3.08× | 1.31× | ||
| Q2 25 | 4.11× | 1.66× | ||
| Q1 25 | 25.67× | -6.93× | ||
| Q4 24 | -3.08× | 3.57× | ||
| Q3 24 | 2.83× | 4.66× | ||
| Q2 24 | 13.56× | 1.93× |
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% |
WWW
| Sales Channel Through Intermediary | $230.2M | 44% |
| Sales Channel Directly To Consumer | $142.6M | 28% |
| Work Group | $134.0M | 26% |
| Other | $10.7M | 2% |
