NYSE · Consumer Defensive

Church & Dwight Co., Inc.

CHD · Household & Personal Products

$92.89

▼ -3.13 (-3.26%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Church & Dwight Co., Inc. at $92.89.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

Overall Grade

Defensive

Enterprising

Profitability A

Gross Profit Margin 44.7%

Operating Margin 17.4%

Net Income Margin 11.9%

Fin. Health C

Years to Pay Off Debt 3.0 yrs

Working Capital vs Long-Term Debt -$2.1B

Working Capital $99M

Valuation F

Margin of Safety 0.0%

Price-to-Book 5.50x

Cash Flow A

Free Cash Flow $1.1B

CapEx % of Net Income 16.6%

Owner Earnings $1.1B

4/7

Graham Score

Enterprising

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $22.0B

Enterprise Value $24.6B

P/E (TTM) 30.56

Dividend Yield 1.25%

Exchange NYSE

Key Margins

Gross Profit 44.7%

Operating Margin 17.4%

Net Margin 11.9%

Company Info

Sector Consumer Defensive

Industry Household & Personal Products

Employees 5550

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Church & Dwight Co., Inc. at $92.89.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

At $92.89, the stock trades at a 174% premium to its Graham Number of $33.88. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: This stock is better suited for Graham's Enterprising investor — one willing to devote time and skill to security selection.

About Church & Dwight Co., Inc.

Church & Dwight Co., Inc. develops, manufactures, and markets household, personal care, and specialty products. It operates in three segments: Consumer Domestic, Consumer International, and Specialty Products Division. The company offers baking soda, cat litters, laundry detergents, carpet deodorizers, and other baking soda-based products under the ARM & HAMMER brand; stain removers, cleaning solutions, laundry detergents, and bleach alternatives under the OXICLEAN brand; dry shampoos under the BATISTE brand; water flossers under the WATERPIK brand; oral care products under the THERABREATH brand; acne treatment products under the HERO brand; hand sanitizers under the TOUCHLAND brand; and condoms, lubricants, and vibrators under the TROJAN brand. It also provides home pregnancy and ovulation test kits under the FIRST RESPONSE brand; depilatories under the NAIR; oral analgesics under the ORAJEL brand; laundry detergents under the XTRA brand; and cold shortening and relief products under the ZICAM brand. In addition, the company's specialty products include animal and food productivity products, such as ARM & HAMMER baking soda as a feed additive to help dairy cow; BIO-CHLOR and FERMENTEN used to reduce health issues associated with calving, as well as needed protein; CELMANAX refined functional carbohydrate, a yeast-based prebiotic; and CERTILLUS a probiotics products used in the poultry, dairy, beef, and swine industries. Additionally, it offers sodium bicarbonate; and cleaning and deodorizing products. The company sells its consumer products through supermarkets, mass merchandisers, wholesale clubs, drugstores, convenience stores, home stores, dollar and other discount stores, pet and other specialty stores, websites and other e-commerce channels; and specialty products to industrial customers and livestock producers through distributors. Church & Dwight Co., Inc. was founded in 1846 and is headquartered in Ewing, New Jersey.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022
Gross Profit %	44.7% ▼	45.7%	44.1%	41.9%
Operating Margin %	17.4% ▼	19.1%	18.0%	18.8%
Net Income %	11.9% ▲	9.6%	12.9%	7.7%
Diluted EPS	3.02 ▲	2.37	3.05	1.68

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$8.9B	$8.9B	$8.6B	$8.3B	N/A
Total Debt	$2.2B ↑	$2.2B	$2.4B	$2.7B	N/A
Working Capital	$99M ▼	$925M	$108M	$212M	N/A
Years to Pay Debt	2.99	3.77	3.18	6.46	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$1.1B ▲	$976M	$807M	$706M	N/A
Owner Earnings	$1.1B	$1.0B	$1.2B	$812M	N/A
CapEx % of Net Income	16.6%	30.7%	29.6%	43.2%	N/A

Income Statement

	2025	2024	2023	2022
Tax Effect Of Unusual Items	0	-80,705	0	-85,899
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	1,299,500	1,447,500	1,303,500	1,242,900
Total Unusual Items	0	-357,100	0	-411,000
Total Unusual Items Excluding Goodwill	0	-357,100	0	-411,000
Net Income From Continuing Operation Net Minority Interest	736,800	585,300	755,600	413,900
Reconciled Depreciation	247,400	239,100	225,200	219,000
Reconciled Cost Of Revenue	3,428,400	3,317,000	3,279,400	3,125,600
EBITDA	1,299,500	1,090,400	1,303,500	831,900
EBIT	1,052,100	851,300	1,078,300	612,900
Net Interest Income	-71,700	-68,700	-97,900	-85,800
Interest Expense	95,200	95,000	110,900	89,600
Interest Income	23,500	26,300	13,000	3,800
Normalized Income	736,800	861,695	755,600	739,001
Net Income From Continuing And Discontinued Operation	736,800	585,300	755,600	413,900
Total Expenses	5,125,600	4,942,900	4,810,500	4,366,800
Total Operating Income As Reported	1,077,600	807,100	1,057,400	597,800
Diluted Average Shares	244,300	246,900	247,600	246,300
Basic Average Shares	242,700	244,400	244,900	242,900
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	736,800	585,300	755,600	413,900
Net Income Common Stockholders	736,800	585,300	755,600	413,900
Net Income	736,800	585,300	755,600	413,900
Net Income Including Noncontrolling Interests	736,800	585,300	755,600	413,900
Net Income Continuous Operations	736,800	585,300	755,600	413,900
Tax Provision	220,100	171,000	211,800	109,400
Pretax Income	956,900	756,300	967,400	523,300
Other Income Expense	-49,000	-339,200	7,900	-399,700
Other Non Operating Income Expenses	-56,900	8,800	-800	-1,000
Special Income Charges	0	-357,100	0	-411,000
Impairment Of Capital Assets	0	357,100	0	411,000
Earnings From Equity Interest	7,900	9,100	8,700	12,300
Gain On Sale Of Security				3,800
Net Non Operating Interest Income Expense	-71,700	-68,700	-97,900	-85,800
Interest Expense Non Operating	95,200	95,000	110,900	89,600
Interest Income Non Operating	23,500	26,300	13,000	3,800
Operating Income	1,077,600	1,164,200	1,057,400	1,008,800
Operating Expense	1,697,200	1,625,900	1,531,100	1,241,200
Selling General And Administration	1,697,200	1,625,900	1,531,100	1,241,200
Selling And Marketing Expense	708,900	698,100	641,300	535,200
General And Administrative Expense	988,300	927,800	889,800	706,000
Other Gand A	988,300	927,800	889,800	706,000
Gross Profit	2,774,800	2,790,100	2,588,500	2,250,000
Cost Of Revenue	3,428,400	3,317,000	3,279,400	3,125,600
Total Revenue	6,203,200	6,107,100	5,867,900	5,375,600
Operating Revenue	6,203,200	6,107,100	5,867,900	5,375,600

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	57,156	47,830	50,557	49,814
Ordinary Shares Number	236,554	245,880	243,153	243,896
Share Issued	293,710	293,710	293,710	293,710
Net Debt	1,796,100	1,240,500	2,061,500	2,403,200
Total Debt	2,205,100	2,204,600	2,406,000	2,673,500
Tangible Book Value	-2,136,800	-960,900	-1,878,400	-2,368,500
Invested Capital	6,207,300	6,565,400	6,261,400	6,163,400
Working Capital	99,300	924,700	107,700	212,100
Net Tangible Assets	-2,136,800	-960,900	-1,878,400	-2,368,500
Common Stock Equity	4,002,200	4,360,800	3,855,400	3,489,900
Total Capitalization	6,207,300	6,565,400	6,057,600	6,089,400
Total Equity Gross Minority Interest	4,002,200	4,360,800	3,855,400	3,489,900
Stockholders Equity	4,002,200	4,360,800	3,855,400	3,489,900
Gains Losses Not Affecting Retained Earnings	-19,900	-30,900	-27,200	-29,300
Other Equity Adjustments	-19,900	-30,900	-27,200	-29,300
Foreign Currency Translation Adjustments		-53,200	-37,800	-46,400	-30,200
Minimum Pension Liabilities		4,400	4,600	1,700	-600
Treasury Stock	3,664,900	2,784,800	2,878,200	2,665,300
Retained Earnings	6,768,200	6,319,700	6,012,300	5,524,600
Additional Paid In Capital	625,100	563,100	454,800	366,200
Capital Stock	293,700	293,700	293,700	293,700
Common Stock	293,700	293,700	293,700	293,700
Total Liabilities Net Minority Interest	4,910,200	4,522,300	4,713,800	4,855,700
Total Non Current Liabilities Net Minority Interest	3,412,500	3,206,400	3,291,800	3,671,900
Other Non Current Liabilities	320,500	332,600	346,500	315,400
Non Current Deferred Liabilities	886,900	669,200	743,100	757,000
Non Current Deferred Taxes Liabilities	886,900	669,200	743,100	757,000
Long Term Debt And Capital Lease Obligation	2,205,100	2,204,600	2,202,200	2,599,500
Long Term Debt	2,205,100	2,204,600	2,202,200	2,599,500
Current Liabilities	1,497,700	1,315,900	1,422,000	1,183,800
Current Debt And Capital Lease Obligation			203,800	74,000	952,200
Current Debt			203,800	74,000	952,200
Other Current Borrowings			199,900		699,400
Line Of Credit		0	3,900	3,400	3,100
Commercial Paper			0	70,600	249,700
Payables And Accrued Expenses	1,497,700	1,315,900	1,218,200	1,109,800
Current Accrued Expenses	761,900	605,500	580,400	436,100
Payables	735,800	710,400	637,800	673,700
Total Tax Payable	3,400	5,300	7,200	7,000
Income Tax Payable	3,400	5,300	7,200	7,000
Accounts Payable	732,400	705,100	630,600	666,700
Total Assets	8,912,400	8,883,100	8,569,200	8,345,600
Total Non Current Assets	7,315,400	6,642,500	7,039,500	6,949,700
Other Non Current Assets	343,300	378,000	366,000	317,500
Investments And Advances	10,300	11,100	12,000	12,700
Long Term Equity Investment	10,300	11,100	12,000	12,700
Investmentsin Associatesat Cost					9,100
Goodwill And Other Intangible Assets	6,139,000	5,321,700	5,733,800	5,858,400
Other Intangible Assets	3,511,500	2,888,500	3,302,300	3,431,600
Goodwill	2,627,500	2,433,200	2,431,500	2,426,800
Net PPE	822,800	931,700	927,700	761,100
Accumulated Depreciation	-874,200	-920,100	-889,700	-840,100
Gross PPE	1,697,000	1,851,800	1,817,400	1,601,200
Construction In Progress	131,900	215,100	348,400	211,500
Machinery Furniture Equipment	1,181,600	1,259,300	1,122,900	1,062,500
Buildings And Improvements	367,500	348,200	317,800	299,100
Land And Improvements	16,000	29,200	28,300	28,100
Current Assets	1,597,000	2,240,600	1,529,700	1,395,900
Other Current Assets	59,800	62,400	45,000	57,000
Inventory	534,800	613,300	613,300	646,600
Finished Goods	356,100	427,500	435,600	450,300
Work In Process	35,000	45,400	40,200	46,800
Raw Materials	143,700	140,400	137,500	149,500
Receivables	593,400	600,800	526,900	422,000
Accounts Receivable	593,400	600,800	526,900	422,000
Allowance For Doubtful Accounts Receivable	-3,700	-5,100	-7,300	-3,500
Gross Accounts Receivable	597,100	605,900	534,200	425,500
Cash Cash Equivalents And Short Term Investments	409,000	964,100	344,500	270,300
Cash And Cash Equivalents	409,000	964,100	344,500	270,300

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	1,093,000	976,400	807,100	706,400
Repurchase Of Capital Stock	-900,000	0	-300,100	0
Repayment Of Debt	0	-208,200	-270,600	-878,900
Issuance Of Debt		0	0	998,800	799,200
Capital Expenditure	-122,400	-179,800	-223,500	-178,800
Interest Paid Supplemental Data	94,600	94,400	111,900	86,000
Income Tax Paid Supplemental Data	188,100	259,600	228,200	213,100
End Cash Position	409,000	964,100	344,500	270,300
Beginning Cash Position	964,100	344,500	270,300	240,600
Effect Of Exchange Rate Changes	8,800	-9,900	3,500	-6,000
Changes In Cash	-563,900	629,500	70,700	35,700
Financing Cash Flow	-1,162,400	-343,400	-725,600	-120,900
Cash Flow From Continuing Financing Activities	-1,162,400	-343,400	-725,600	-120,900
Net Other Financing Charges	-10,800	-1,100	-100	-12,000
Proceeds From Stock Option Exercised	35,600	142,900	111,700	26,200
Cash Dividends Paid	-287,200	-277,000	-266,500	-255,000
Common Stock Dividend Paid	-287,200	-277,000	-266,500	-255,000
Net Common Stock Issuance	-900,000	0	-300,100	0
Common Stock Payments	-900,000	0	-300,100	0
Net Issuance Payments Of Debt	0	-208,200	-270,600	119,900
Net Short Term Debt Issuance	0	-3,600	-70,600	-178,900
Short Term Debt Payments	0	-3,600	-70,600	-178,900
Net Long Term Debt Issuance	0	-204,600	-200,000	298,800
Long Term Debt Payments	0	-204,600	-200,000	-700,000
Long Term Debt Issuance		0	0	998,800	799,200
Investing Cash Flow	-616,900	-183,300	-234,300	-728,600
Cash Flow From Continuing Investing Activities	-616,900	-183,300	-234,300	-728,600
Net Other Investing Changes	1,200	9,800	-10,800	-3,000
Net Business Purchase And Sale	-495,700	-13,300	0	-546,800
Sale Of Business	160,300	6,600	0	0
Purchase Of Business	-656,000	-19,900	0	-546,800
Net PPE Purchase And Sale	-122,400	-179,800	-223,500	-178,800
Purchase Of PPE	-122,400	-179,800	-223,500	-178,800
Operating Cash Flow	1,215,400	1,156,200	1,030,600	885,200
Cash Flow From Continuing Operating Activities	1,215,400	1,156,200	1,030,600	885,200
Dividend Received Cfo	8,800	8,900	9,500	8,700
Change In Working Capital	9,800	-8,200	-9,300	-68,900
Change In Other Working Capital	-23,300	-18,600	-14,200	-27,600
Change In Other Current Assets	1,200	-500	10,400	2,500
Change In Payables And Accrued Expense	-63,600	90,400	53,400	54,300
Change In Accrued Expense	-60,900	-1,100	113,300	33,000
Change In Payable	-2,700	91,500	-59,900	21,300
Change In Account Payable	2,400	98,600	-58,100	6,900
Change In Tax Payable	-5,100	-7,100	-1,800	14,400
Change In Income Tax Payable	-5,100	-7,100	-1,800	14,400
Change In Inventory	56,100	2,000	38,500	-92,800
Change In Receivables	39,400	-81,500	-97,400	-5,300
Changes In Account Receivables	39,400	-81,500	-97,400	-5,300
Other Non Cash Items	12,300	-6,200	-400	-3,200
Stock Based Compensation	58,000	59,200	63,600	32,300
Asset Impairment Charge	55,700	369,200	8,900	413,400
Deferred Tax	36,000	-82,000	-13,800	-117,700
Deferred Income Tax	36,000	-82,000	-13,800	-117,700
Depreciation Amortization Depletion	247,400	239,100	225,200	219,000
Depreciation And Amortization	247,400	239,100	225,200	219,000
Amortization Cash Flow	157,700	155,900	152,400	152,000
Amortization Of Intangibles	157,700	155,900	152,400	152,000
Depreciation	89,700	83,200	72,800	67,000
Operating Gains Losses	50,600	-9,100	-8,700	-12,300
Earnings Losses From Equity Investments	-7,900	-9,100	-8,700	-12,300
Gain Loss On Sale Of Business	58,500	0	0
Net Income From Continuing Operations	736,800	585,300	755,600	413,900

These metrics estimate what Church & Dwight Co., Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$33.88

Margin of Safety

Market Cap ÷ Company Value

1.55

P/B Ratio

5.50

Warren's Owner Earnings

$1.1B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

4/7 — Enterprising Investor

✅ Adequate Size

$6.2B

vs > $1.5B revenue

❌ Strong Financial Condition

1.07x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

1.25%

vs Uninterrupted dividends

✅ Earnings Growth

+79.8% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

30.6x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

5.50x P/B (P/E×P/B: 168.0)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-13.99

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$50.55

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	16.6%	30.7%	29.6%	43.2%	N/A
Repurchase of Capital Stock	-$900M	$0M	-$300M	$0M	N/A
Free Cash Flow	$1.1B ▲	$976M ▲	$807M ▲	$706M •	N/A •
Warren's Owner Earnings	$1.1B	$1.0B	$1.2B	$812M	N/A

Peers & Industry

No auto-detected peers for Household & Personal Products. You can manually compare CHD against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.20%

Low — management has little skin in the game

Return on Equity (ROE)

18.4%

Excellent — management generates strong returns on equity

Return on Assets (ROA)

8.3%

Strong — management uses assets efficiently

Share Buybacks (Latest Year)

$900M

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+0.0% YoY

Debt is roughly stable

Leadership Team

Richard Dierker

President, CEO & Director

Age 45

Pay: $2,715,604

0.369% of net income

Lee McChesney

CFO & Executive VP

Age 53

Pay: $1,378,489

0.187% of net income

Michael Read

Executive Vice President of International

Age 50

Pay: $1,103,325

0.150% of net income

Charles Raup

Executive VP & President of US Domestic

Age 57

Pay: $943,788

0.128% of net income

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	13.09%	31,017,010
Blackrock Inc.	9.56%	22,637,987
State Street Corporation	5.86%	13,875,412
Capital International Investors	4.77%	11,302,929
JPMORGAN CHASE & CO	3.21%	7,610,224
Fundsmith LLP	2.84%	6,728,404
Geode Capital Management, LLC	2.66%	6,296,672
Stifel Financial Corporation	1.81%	4,298,655

Risk Analysis

Beta (Market Risk)

0.48

Low volatility — more stable than the market

Short Interest

3.7% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.57x

Conservative balance sheet — low financial risk

Current Ratio

1.22x

Adequate liquidity

52-Week Price Range

Low: $81.33 Current: $92.89 High: $106.04

Currently at 47% of 52-week range

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