Buybacks largely absorbed by stock pay. Stock-based pay expense $20M vs $31M spent repurchasing shares over the 3 fiscal years to FY Aug 2025. Shares outstanding changed −1.3% from August 2022 to July 2026.
Over three fiscal years WD-40 recorded $20M of stock-based pay expense and spent $31M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−1.3%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years WD-40 recorded $20M of stock-based pay expense and spent $31M repurchasing shares. The share count barely moved (−1.3%), so much of the repurchasing offset new employee shares rather than shrinking the count.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $408M in FY Aug 2020 to $620M in FY Aug 2025.
WD-40's fiscal-year revenue rose in each of the five years to FY Aug 2025, from $408M to $620M.
Wide margins.Operating margin 17% (12 months to May 2026) vs a peer median of 7.6%.Operating margin 17% vs peers 7.6%.
WD-40 keeps 17% of revenue as operating profit, more than 81% of peers (median 7.6%).
Steadier share price. Beta 0.26: tends to move less than the market.
WD-40's shares have swung less with the market than most peers' (beta 0.26, below the market's 1.0).
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 37 → 36
Peer companies moved-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about WD-40
Is WD-40 getting weaker?
Its latest SEC filing (Jul 9, 2026) showed no major changes. Its overall score is unchanged at 68/100 since Oct 28, 2026.
How is WD-40 valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 36/100 against 1,371 basic materials peers.EBITDA yield 4.2% vs a peer median of 8.5% (weaker than 71% of peers).EBITDA yield 4.2% vs peers 8.5% (weaker than 71% of peers).
Is WD-40 growing?
Yes, faster than most of its peers. Growth scores 64/100 against 1,371 basic materials peers.3-year revenue growth 8.6% vs a peer median of -0.0% (stronger than 77% of peers).3-year revenue growth 8.6% vs peers -0.0% (stronger than 77% of peers).
How profitable is WD-40?
More profitable than most of its peers. Profitability scores 92/100 against 1,371 basic materials peers.Return on assets 17.9% vs a peer median of 2.5% (stronger than 95% of peers).Return on assets 17.9% vs peers 2.5% (stronger than 95% of peers).
How risky is WD-40?
Lower risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings.Beta 0.26 vs a peer median of 0.69 (stronger than 90% of peers).Beta 0.26 vs peers 0.69 (stronger than 90% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended May 31, 2026 · filed Jul 9, 2026 · compared with the quarter ended Feb 28, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
636.5M USD
674.7M USD
+6.0%
Net income (12 months)
80.0M USD
89.2M USD
+11.6%
Operating margin
16.5%
17.5%
+1.0 pts
Free cash flow (12 months)
84.1M USD
79.5M USD
−5.5%
Debt
101.2M USD
100.7M USD
−0.5%
Cash
50.3M USD
59.1M USD
+17.5%
Shares outstanding
13.5M
13.4M
−0.3%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Specialty Chemicals · 32 companies
Valuations in Specialty Chemicals are above their usual range since 2016.
74% of months since 2016 were valued lower than now.
17% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −8% and earnings +13% (medians): earnings grew faster than prices.
Median price-to-sales is −36% vs the whole market, against a usual −31%.
2016Shaded: most expensive fifth of its range2026
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY Aug 2021
FY Aug 2022
FY Aug 2023
FY Aug 2024
FY Aug 2025
Change
Gross margin
54.0%
49.1%
51.0%
53.4%
55.1%
▲ 1.7 pts
Operating margin
18.2%
16.8%
16.7%
16.3%
16.7%
▲ 0.4 pts
Net margin
14.4%
13.0%
12.3%
11.8%
14.7%
▲ 2.9 pts
Return on assets (ROA)
16.3%
15.5%
15.1%
15.5%
19.1%
▲ 3.6 pts
Return on equity (ROE)
35.0%
35.7%
31.4%
30.2%
33.9%
▲ 3.7 pts
Free cash flow margin
14.3%
-1.1%
17.0%
14.9%
13.5%
▼ 1.4 pts
Current ratio
2.81×
2.25×
2.80×
2.47×
2.79×
▲ 13%
Quick ratio
2.16×
1.31×
1.82×
1.70×
2.01×
▲ 18%
Debt to equity
0.58×
0.78×
0.57×
0.41×
0.32×
▼ 21%
Interest coverage
37.09×
31.85×
15.98×
22.48×
30.16×
▲ 34%
WDFC price history
Price history is added with the daily price update and will appear after the next one.