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The Moat Index

NEWELL BRANDS INC.

NWL · Materials · $2.2B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

38/ 100
No moat

The four filters

Pricing power55

Median gross margin 33.0% over 10y, very stable.

Returns on capital4

Median ROIC 0.6%, above the 9% hurdle in 10% of years.

Balance-sheet safety40

Net debt/EBITDA 12.8x, no material interest expense disclosed.

Capital discipline64

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale
No price data
Owner earnings (normalized)
—
Est. intrinsic value / share
—
Recent price
$5.23
Discount to value
No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

19 years of fundamentals

The business, in plain English

NEWELL BRANDS INC. booked $7.2B of revenue in FY2025 in the Materials sector and kept 33.8% of it as gross profit — a moderate-margin business by that measure. After every other cost, −4.0% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $6.5B (FY2008) to $7.2B (FY2025) — about 0.6% a year compounded over 17 years.

It earned 0.4% on invested capital in FY2025, with a median of 6.6% across 18 filed years. The Returns on Capital filter above scores it 4/100.

The balance sheet carried $4.7B of total debt in FY2025. Balance-Sheet Safety scores it 40/100.

The share count rose 44.3% between FY2010 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 64/100.

Put together: Capital Discipline is the strongest of the four filters (64/100) and Returns on Capital the weakest (4/100), which is how NWL lands at 38/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2007–FY2025 · 19 fiscal years, normalized from NWL’s SEC filings

RevenueSales, as filed$7.2B FY2025
$0$5B$10B2007201320192025
Gross marginRevenue kept after cost of goods33.8% FY2025
0%20%40%2007201320192025
Return on invested capitalOperating profit on the capital employed0.4% FY2025
−50%0%2007201320192025
Owner earningsCash an owner could take out−$221.0M FY2025
−$5B$02007201320192025

Gaps in a line mean that item isn’t in NWL’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

3 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale38.4 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — NWL has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#110 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #108EQT EQT Corporation39.1No moat
  2. #109SLSN Solesence, Inc.38.8No moat
  3. #111PURE PURE Bioscience, Inc.38.1No moat
  4. #112MLKN MillerKnoll, Inc.37.8No moat

Compare NWL with its nearest peers →All Materials companies on the Index →

Common questions about NWL

Does NEWELL BRANDS INC. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores NEWELL BRANDS INC. (NWL) 38.4 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 55, returns on capital 4, balance-sheet safety 40, capital discipline 64.
How has NWL's Moat Score changed over time?
The record logs 3 readings since Jul 17, 2026; the latest reads 38.4 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.
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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell NWL. See the disclaimer.

NEWELL BRANDS INC. (NWL) Moat Score — The Moat Index · Buy Like Buffett