WD-40 10-K: FY26 Sales Up 11% to $688M, EPS Down 9% to $6.08, New 5-9% Growth Model
WDFC sits 23% above its 52-week low of $175.38.
Summary
WD-40's annual report confirms FY2026 sales of $688.0M (+11%) and GAAP EPS of $6.08 (-9%), and introduces a new long-term model targeting 5-9% constant-currency sales growth with gross margin above 55%.
Key Events · Earnings and Guidance · WDFC
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FY26 Sales Up 11% to $688M
Consolidated net sales rose $68.0 million, or 11%, to $687,993 thousand; constant-currency growth was 7%, with foreign exchange adding $21.8 million.
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GAAP EPS Falls 9% to $6.08
Net income dropped $8.6 million, or 10%, to $82.3 million, largely because the prior year included an $11.9 million uncertain tax position release; adjusted EPS rose 6% to $6.18.
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New Enduring Business Model Targets
Replaces the 55/30/25 framework with targets of 5%-9% constant-currency annual net sales growth, gross margin above 55%, and Adjusted EBITDA growth exceeding net sales growth, effective fiscal 2027 reporting.
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Q4 Margin Hit From Input Costs
Middle East conflict-driven petroleum specialty chemical costs cut Q4 gross margin by 370 basis points versus the prior-year quarter; price increases have been implemented in certain regions for fiscal 2027.
Analysis · WDFC · Industrial Applications And Services
The headline numbers were already out on October 21, but the annual report fills in what the press release did not: a new long-term framework replacing the 55/30/25 model, a fresh $100M buyback authorization, and the mechanics of the margin squeeze. Q4 gross margin fell 370 basis points as Middle East conflict-driven petroleum costs hit the P&L, and management has already pushed through price increases for fiscal 2027 — so the question is whether those stick without volume loss. The tax rate jumping to 22.7% from 10.5% is a prior-year comparison artifact (the FY25 toll-tax release), not a new cash problem. With $70.6M of cash, all covenants met, and $83.7M returned to shareholders, the balance sheet is not the issue; the growth algorithm is.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, WDFC was trading at $216.06 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $175.38 to $298.90. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.