WHIRLPOOL CORP /DE/
WHR · Industrials · $2.1B mkt cap · FY2025 filings · No moat ·
Doesn't clear the bar
The four filters
Median gross margin 16.9% over 10y, stable.
Median ROIC 10.3%, above the 9% hurdle in 60% of years.
Net debt/EBITDA 5.0x, interest coverage 2x.
Owner earnings -10.8%/yr, share count shrinking (buybacks).
Margin of safety
- Owner earnings (normalized)
- $318.0M
- Est. intrinsic value / share
- $63.10
- Recent price
- $38.24
- Discount to value
- 39% below value
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
WHIRLPOOL CORP /DE/ booked $15.5B of revenue in FY2025 in the Industrials sector and kept 15.4% of it as gross profit — a thin-margin business by that measure. After every other cost, 2.0% of each revenue dollar reached the bottom line.
Across the filed record, revenue shrank from $18.9B (FY2008) to $15.5B (FY2025) — about −1.2% a year compounded over 17 years.
It earned 7.1% on invested capital in FY2025, with a median of 12.2% across 18 filed years. The Returns on Capital filter above scores it 44/100.
The balance sheet carried $6.5B of total debt in FY2025 against $318.0M of owner earnings — roughly 20.5 years of owner earnings to retire it all. Balance-Sheet Safety scores it 1/100.
The share count fell 25.3% between FY2009 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 40/100.
Put together: Returns on Capital is the strongest of the four filters (44/100) and Balance-Sheet Safety the weakest (1/100), which is how WHR lands at 29/100 — 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.
Gaps in a line mean that item isn’t in WHR’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
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 — WHR 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.
Industrials context
#210 of 309 scored Industrials companies, ranked by Moat Score.
Nearest peers by Moat Score
- #208CMCO Columbus McKinnon Corporation29.2 out of 100, No moatNo moat
- #209MTRN MATERION CORPORATION29.1 out of 100, No moatNo moat
- #211FET FORUM ENERGY TECHNOLOGIES, INC.29.0 out of 100, No moatNo moat
- #212CETX CEMTREX, INC.28.9 out of 100, No moatNo moat
Compare WHR with its nearest peers →All Industrials companies on the Index →
Common questions about WHR
- Does WHIRLPOOL CORP /DE/ have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores WHIRLPOOL CORP /DE/ (WHR) 29.0 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 26, returns on capital 44, balance-sheet safety 1, capital discipline 40.
- Is WHR stock trading below its intrinsic value?
- Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $63.10 per share versus a recent price of $38.24 — 39% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
- How has WHR's Moat Score changed over time?
- The record logs 3 readings since Jul 17, 2026; the latest reads 29.0 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.