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Energizer Holdings Inc (ENR) Fair Value & Analysis

Industrials · US · Market cap $1.5B · ISIN US29272W1099

What is Energizer Holdings Inc really worth?

EH Energizer Holdings Inc logo Energizer Holdings Inc ENR · US
Price$20.65
Fair Value$20.95
Upside+1.5%
Quality56/100

A solid business, currently priced close to our fair value of $20.95.

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Strengths

Ranks above peers (11/15)

Risks

!Weak Growth (revenue 5y +1.5 %/yr)
!Thin margins · 6.6% net margin
!High debt · generates free cash flow
!Moderate moat 63/100
!The models disagree: range $20.95 to $83.80

For context

·5.81% dividend yield
Evidence: High Range $20.95 – $83.80

Fair value as of: Sep 3, 2026

From 21 valuation models · updated yesterday

Share price −4.3% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide ($20.95 to $83.80). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.

Price vs Fair Value (5 years)

$37.13 $15.93 Fair Value $20.95 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range $15.93 – $37.13 · fair‑value band $20.95 – $83.80 · the $20.65 price screens below the $20.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

Energizer Holdings Inc (ENR) currently trades at $20.65, while our model-based Fair Value estimate is $20.95, implying the stock looks roughly 1.4% fairly valued today. The Quality Score stands at 56/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of $59.34 per share, and 7 of the 19 models we run sit above the $20.65 price. Bear case: the DCF Models group reads lowest at $5.54, and 12 of the 19 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Energizer Holdings Inc generated revenue of $3.0B at a net margin of 6.6%. Revenue declined 3.0% year over year. It earns a return on equity of 127.1%. Net debt stands at $3.3B. Fundamentals as of Sep 3, 2026

Our scenario range runs from $20.95 (bear case) to $83.80 (bull case); at $20.65, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high and 31% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at 1%, ENR screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly $1.43 per share, which is 6.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Owner Earnings $2.10 $17.11 73
5Y EBITDA Exit $31.94 $68.63 72
5Y Revenue Exit $0.8600 $24.75 69
All 21 models by family
DCF Models
Owner Earnings $2.10 $17.11 73
5Y Revenue Exit $0.8600 $24.75 69
5Y EBITDA Exit $31.94 $68.63 72
5Y P/E Exit $6.65 $28.27 68
10Y Revenue Exit $4.65 64
10Y EBITDA Exit $5.54 $33.68 65
10Y P/E Exit $6.97 61
Earnings-Based
Graham-Dodd $23.73 $53.79 $68.87 65
PEG = 1.0 $8.87 $12.67 $16.47 57
EPV $1.77 $8.32 $13.79 66
Multiples
P/E Multiple $54.97 $73.30 $91.62 63
P/S Multiple $44.50 $59.34 $74.17 58
P/B Multiple $10.24 $13.65 $17.06 55
EV/EBIT $38.83 $67.21 $95.60 64
EV/EBITDA $36.84 $64.55 $92.27 65
EV/Revenue $18.36 $37.77 50
Asset-Based
NCAV (Graham) $1.24 $1.66 $2.48 54
Growth DCF
Rev-Margin DCF $0.6600 $20.51 69
Economic Profit
Residual Income $11.65 $20.11 $408.17 64
ROIC Compounder $1.77 $9.77 $18.23 65
Growth Earnings
Growth-Adj P/E $41.18 $58.83 $76.49 67

Widest divergence: Multiples ($59.34) versus Growth DCF ($0.6600). Highest evidence: Owner Earnings (73).

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Key figures & financial health

P/E ratio 7.6
P/S ratio 0.61 P/E × margin
EPS (TTM) $2.73 price ÷ EPS = P/E 7.6
Dividend yield 5.8% payout 44.0%
Net margin 8.1% FY2025
Return on equity 127% TTM
More key figures
Profitability
Return on assets (EBIT) 8.8% avg 5y
Operating margin 18.6% TTM
Growth
Revenue (TTM) $3.0B TTM
Revenue growth (YoY) −3.0% 3y avg −1.1%
EPS growth (YoY) −62.2%
Balance sheet & cash flow
Free cash flow $63.2M FY2025
Net debt $3.3B FY2025 · ≈ 52.2 yrs of FCF

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 47 · Market factors (momentum, volatility) 41

Profitability 55
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 18
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Energizer Holdings, Inc., together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide.

Full company description

Energizer Holdings, Inc., together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers household batteries, including primary, rechargeable, specialty, and hearing aid under the Energizer, Eveready, Rayovac, and Varta brands; and protectants, wipes, tire and wheel care products, glass cleaners, leather care products, air fresheners, and washes under the Armor All, Nu Finish, Refresh Your Car!, LEXOL, Eagle One, NEVR-DULL, California Scents, Driven, Bahama & Co, Carnu, Grand Prix, Kit, Tempo, and Centralsul brands. The company also provides fuel and oil additives, functional fluids, and other performance chemical products under the STP brand; automotive air conditioning recharge products, other refrigerant and recharge kits, sealants, and accessories under the A/C PRO brand name. In addition, it distributes and markets lighting products comprising handheld, headlights, lanterns, and area lights; flashlights under the Hard Case, Dolphin, and WeatherReady brands; and licenses brands to developing consumer solutions in solar, automotive batteries, portable power for critical devices, generators, power tools, household light bulbs, and other lighting products. The company sells its products through direct sales force, distributors, and wholesalers, as well as retail locations, mass merchandisers and warehouse clubs, food, drug and convenience stores, electronics specialty stores and department stores, hardware and automotive centers, e-commerce, and military stores. Energizer Holdings, Inc. was incorporated in 2015 and is headquartered in Saint Louis, Missouri.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Energizer Holdings Inc reported revenue of $3.0B in FY2025 versus $3.0B in FY2021, a compound −0.6%/yr. Reported net income was $239M in FY2025, compounding +10.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$3.0B
Latest YoY
+2.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−1.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.5%
Avg. revenue growth/yr (13Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
+27.9% (22.1 + 5.8)
Revenue −0.6%/yr
FY21 $3.0B
FY22 $3.1B
FY23 $3.0B
FY24 $2.9B
FY25 $3.0B
Net income +10.4%/yr
FY21 $161M
FY22 −$232M
FY23 $141M
FY24 $38.1M
FY25 $239M
Character of growth · EPS growth decomposed (2014-2025) −1.9 % p.a.
Revenue per share +4.2 %

of which total revenue +6.0 % · buybacks/dilution −1.7 %

EBIT margin −1.2 %
Tax rate +0.9 %
Residual (interest, one-offs) −5.6 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Energizer Holdings Inc Fair Value". https://www.fairvalue-calculator.com/stock/ENR

Peer Group

Electrical Equipment & Parts · 542 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside +2% · Top 25%
Return on equity (TTM) 127% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 19% · Top 25%
Revenue growth −3% · Bottom 25%
Dividend yield (TTM) 5.8% · Top 25%
Debt / equity 20.06× · Higher than 75% of peers

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 7.6× · Cheaper than 75% of peers
P/B 8.67× · Pricier than 75% of peers
P/S (TTM) 0.49× · Cheaper than 75% of peers
P/FCF 23.3× · Pricier than 75% of peers
EV/EBITDA 7.5× · Cheaper than 75% of peers
PEG 1.28× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE35 · sector 0
FUTURE0 · sector 56
PAST100 · sector 26
HEALTH0 · sector 97
DIVIDEND100 · sector 23

Insider activity: 66/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

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LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW −45%
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Frequently asked questions

Is Energizer Holdings Inc (ENR) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of $20.95 versus a price of $20.65, about +1% upside (fairly valued).
What is the fair value of ENR?
Our model-based fair value for Energizer Holdings Inc is $20.95 (as of Sep 3, 2026), built from audited fundamentals. The current price: $20.65.
What is the quality score of ENR?
Energizer Holdings Inc has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Energizer Holdings Inc (ENR)?
Energizer Holdings Inc reported trailing-twelve-month revenue of about $3.0B (latest available figure, as of Sep 3, 2026).
What is the net profit margin of ENR?
The net profit margin of Energizer Holdings Inc is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does Energizer Holdings Inc pay a dividend?
Energizer Holdings Inc currently shows a dividend yield of about 5.81% relative to its recent price (as of Sep 3, 2026).
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