NYSE · Consumer Defensive

Church & Dwight Company, Inc.

CHD · Household & Personal Products

$100.01

▲ 1.2 (1.21%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

N/A⤢

Fin. Health

D⤢

Years to Pay Off Debt 10.2 yrs

Working Capital vs Long-Term Debt -$1.9B

Working Capital $307M

Valuation

F⤢

Margin of Safety 0.0%

Price-to-Book 5.65x

Cash Flow

A⤢

Free Cash Flow $143M

CapEx % of Net Income 14.7%

Owner Earnings $311M

Financial Health

Years to Pay Off Debt 10.2 yrs

Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.

Working Capital vs Long-Term Debt -$1.9B

Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.

Working Capital $307M

Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.

Cash Flow

Free Cash Flow $143M

Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.

CapEx % of Net Income 14.7%

Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.

Owner Earnings $311M

Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.

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

About Church & Dwight Company, 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.

Market Data

Market Cap N/A

Enterprise Value $25.6B

P/E (TTM) 32.05

Dividend Yield 1.22%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin N/A

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 Company, Inc. at $100.01.

The business passes only 2 of 6 of Graham's defensive criteria — well below his required standard.

At $100.01, the stock trades at a 444% premium to its Graham Number of $18.40. 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: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q2 2026	Q4 2025	Q4 2024
Gross Profit %	N/A•	45.8%•	N/A
Operating Margin %	N/A•	16.2%•	N/A
Net Income %	N/A•	8.7%•	N/A
Diluted EPS	0.85▲	0.60•	N/A

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$9.0B	$8.9B	N/A
Total Debt	$2.2B▲	$2.2B•	N/A
Working Capital	$307M▲	$99M•	N/A
Years to Pay Debt	10.20	15.37	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	$143M▼	$308M•	N/A
Owner Earnings	$311M	$264M	N/A
CapEx % of Net Income	14.7%	38.5%	N/A

Income Statement

	2026	2025
Tax Rate For Calcs		0
Normalized EBITDA		278,500
Net Income From Continuing Operation Net Minority Interest		143,500
Reconciled Depreciation		65,800
Reconciled Cost Of Revenue		890,400
EBITDA		278,500
EBIT		212,700
Net Interest Income		-22,500
Interest Expense		24,600
Interest Income		2,100
Normalized Income		143,500
Net Income From Continuing And Discontinued Operation		143,500
Total Expenses		1,378,200
Total Operating Income As Reported		266,000
Diluted Average Shares	238,200	239,600
Basic Average Shares	236,700	238,700
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders		143,500
Net Income Common Stockholders		143,500
Net Income		143,500
Net Income Including Noncontrolling Interests		143,500
Net Income Continuous Operations		143,500
Tax Provision		44,600
Pretax Income		188,100
Other Income Expense		-55,400
Other Non Operating Income Expenses		-56,700
Earnings From Equity Interest		1,300
Net Non Operating Interest Income Expense		-22,500
Interest Expense Non Operating		24,600
Interest Income Non Operating		2,100
Operating Income		266,000
Operating Expense		487,800
Selling General And Administration		487,800
Selling And Marketing Expense		212,300
General And Administrative Expense		275,500
Other Gand A		275,500
Gross Profit		753,800
Cost Of Revenue		890,400
Total Revenue		1,644,200
Operating Revenue		1,644,200

Balance Sheet

	2026	2025	2024
Treasury Shares Number	56,819	57,156
Ordinary Shares Number	236,891	236,554
Share Issued	293,710	293,710
Net Debt	1,702,300	1,796,100
Total Debt	2,205,700	2,205,100
Tangible Book Value	-1,920,600	-2,136,800
Invested Capital	6,391,700	6,207,300
Working Capital	307,300	99,300
Net Tangible Assets	-1,920,600	-2,136,800
Common Stock Equity	4,186,000	4,002,200
Total Capitalization	6,391,700	6,207,300
Total Equity Gross Minority Interest	4,186,000	4,002,200
Stockholders Equity	4,186,000	4,002,200
Gains Losses Not Affecting Retained Earnings	-16,600	-19,900
Other Equity Adjustments	-16,600	-19,900
Foreign Currency Translation Adjustments			-53,200
Minimum Pension Liabilities			4,400
Treasury Stock	3,656,700	3,664,900
Retained Earnings	6,911,500	6,768,200
Additional Paid In Capital	654,100	625,100
Capital Stock	293,700	293,700
Common Stock	293,700	293,700
Total Liabilities Net Minority Interest	4,820,500	4,910,200
Total Non Current Liabilities Net Minority Interest	3,407,100	3,412,500
Other Non Current Liabilities	309,800	320,500
Non Current Deferred Liabilities	891,600	886,900
Non Current Deferred Taxes Liabilities	891,600	886,900
Long Term Debt And Capital Lease Obligation	2,205,700	2,205,100
Long Term Debt	2,205,700	2,205,100
Current Liabilities	1,413,400	1,497,700
Other Current Liabilities
Payables And Accrued Expenses	1,413,400	1,497,700
Current Accrued Expenses	649,900	761,900
Payables	763,500	735,800
Total Tax Payable	33,600	3,400
Income Tax Payable	33,600	3,400
Accounts Payable	729,900	732,400
Total Assets	9,006,500	8,912,400
Total Non Current Assets	7,285,800	7,315,400
Other Non Current Assets	343,000	343,300
Investments And Advances	12,300	10,300
Long Term Equity Investment	12,300	10,300
Goodwill And Other Intangible Assets	6,106,600	6,139,000
Other Intangible Assets	3,477,200	3,511,500
Goodwill	2,629,400	2,627,500
Net PPE	823,900	822,800
Accumulated Depreciation	-892,300	-874,200
Gross PPE	1,716,200	1,697,000
Construction In Progress	147,600	131,900
Machinery Furniture Equipment	1,183,600	1,181,600
Buildings And Improvements	368,600	367,500
Land And Improvements	16,400	16,000
Current Assets	1,720,700	1,597,000
Other Current Assets	62,300	59,800
Inventory	578,400	534,800
Finished Goods	415,400	356,100
Work In Process	24,000	35,000
Raw Materials	139,000	143,700
Receivables	576,600	593,400
Accounts Receivable	576,600	593,400
Allowance For Doubtful Accounts Receivable	-3,800	-3,700
Gross Accounts Receivable	580,400	597,100
Cash Cash Equivalents And Short Term Investments	503,400	409,000
Cash And Cash Equivalents	503,400	409,000

Cash Flow

	2026	2025	2024
Free Cash Flow	142,900	308,200
Repurchase Of Capital Stock		-300,000
Repayment Of Debt		0	-7,600
Issuance Of Debt			-400
Capital Expenditure	-31,900	-55,200
Interest Paid Supplemental Data	15,300	32,900
Income Tax Paid Supplemental Data	7,200	31,000
End Cash Position	503,400	409,000
Beginning Cash Position	409,000	305,300
Effect Of Exchange Rate Changes	-2,000	400
Changes In Cash	96,400	103,300
Financing Cash Flow	-44,900	-368,500
Cash Flow From Continuing Financing Activities	-44,900	-368,500
Net Other Financing Charges	11,400	-200
Proceeds From Stock Option Exercised	16,600	2,500
Cash Dividends Paid	-72,900	-70,800
Common Stock Dividend Paid	-72,900	-70,800
Net Common Stock Issuance		-300,000
Common Stock Payments		-300,000
Net Issuance Payments Of Debt		0	-8,000
Net Short Term Debt Issuance			-3,600
Net Long Term Debt Issuance		0	-4,400
Long Term Debt Payments		0	-4,000
Long Term Debt Issuance			-400
Investing Cash Flow	-33,500	108,400
Cash Flow From Continuing Investing Activities	-33,500	108,400
Net Other Investing Changes	-1,600	2,900
Net Business Purchase And Sale		160,700	6,600
Purchase Of Business		400	0
Net PPE Purchase And Sale	-31,900	-55,200
Purchase Of PPE	-31,900	-55,200
Operating Cash Flow	174,800	363,400
Cash Flow From Continuing Operating Activities	174,800	363,400
Dividend Received Cfo	200	2,000
Change In Working Capital	-134,000	73,800
Change In Other Working Capital	-9,500	-300
Change In Other Current Assets	-8,300	-500
Change In Payables And Accrued Expense	-84,800	-6,700
Change In Accrued Expense	-131,300	22,400
Change In Payable	46,500	-29,100
Change In Account Payable	2,300	-37,400
Change In Tax Payable	44,200	8,300
Change In Income Tax Payable	44,200	8,300
Change In Inventory	-45,100	59,400
Change In Receivables	13,700	21,900
Changes In Account Receivables	13,700	21,900
Other Non Cash Items	-200	6,700
Stock Based Compensation	25,700	13,800
Asset Impairment Charge	1,700	-3,700
Deferred Tax	4,500	4,300
Deferred Income Tax	4,500	4,300
Depreciation Amortization Depletion	62,900	65,800
Depreciation And Amortization	62,900	65,800
Amortization Cash Flow	41,300	43,500
Amortization Of Intangibles	41,300	43,500
Depreciation	21,600	22,300
Operating Gains Losses	-2,300	57,200
Earnings Losses From Equity Investments	-2,300	-1,300
Net Income From Continuing Operations	216,300	143,500

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

❌ Financial Condition

Current assets vs current liabilities — a real-time liquidity snapshot. Valid and reliable on quarterly data.

1.22x current ratio

vs ≥ 2.0x

✅ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

$143M

vs Positive

Operating Cash Flow

$175M

Latest quarter · Buffett's cash reality check

ROIC

nan%

Based on latest annual operating income

Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.

Market Cap / Net Assets

5.6x

Net Assets: $4.2B

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

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

Lee McChesney

CFO & Executive VP

Age 53

Pay: $1,378,489

Michael Read

Executive Vice President of International

Age 50

Pay: $1,103,325

Charles Raup

Executive VP & President of US Domestic

Age 57

Pay: $943,788

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	9.37%	22,190,489
Vanguard Capital Management LLC	6.50%	15,412,777
State Street Corporation	5.91%	13,999,709
Vanguard Portfolio Management LLC	5.46%	12,939,622
JPMORGAN CHASE & CO	4.42%	10,469,620
Capital International Investors	3.09%	7,319,561
Fundsmith LLP	2.80%	6,641,508
Geode Capital Management, LLC	2.67%	6,328,565

Risk Analysis

Beta (Market Risk)

0.47

Low volatility — more stable than the market

Short Interest

5.1% of float

Moderate short interest

Debt-to-Equity

0.56x

Conservative balance sheet — low financial risk

Current Ratio

1.15x

Adequate liquidity

52-Week Price Range

Low: $81.33 Current: $100.01 High: $106.04

Currently at 76% of 52-week range

Church & Dwight Company, Inc.

Metric Explanations

Full Graham Analysis

Income Highlights

Balance Sheet Highlights

Cash Flow Highlights

Quarterly Health Checks

Operating Cash Flow

ROIC

Market Cap / Net Assets

Peers & Industry

Capital Allocation & Alignment

Leadership Team

Top Institutional Holders

Risk Analysis