What is Waldencast plc's earnings per share (EPS)?

Waldencast plc (WALDW) reported diluted earnings per share of $-2.01 for fiscal year 2025. This represents a -415.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Waldencast plc Financials

WALDW

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Waldencast plc (WALDW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WALDW FY2025 2026-04-22

High gross margins are being overwhelmed by an overhead-heavy cost base, while FY2025's headline loss appears heavily non-cash.

Between FY2024 and FY2025, net loss widened from -$42.4M to -$229.7M even though revenue stayed essentially flat, a mismatch a simple headline read would miss. With operating cash flow at only -$12.8M in FY2025 and goodwill falling to $177.6M, the reported loss looks driven largely by non-cash charges rather than a matching cash drain in daily operations.

The business still posts rich gross margins of 67.3% in FY2025, which suggests the basic product economics are not the main constraint. The real drag is selling and administrative expense of $248.0M, a cost base that nearly absorbed the whole revenue line and shows scale has not yet covered the commercial infrastructure.

Liquidity looks better than the income statement alone implies, with cash at $30.4M and a current ratio of 1.7x supporting near-term obligations. But internal funding remains weak: long-term debt of $135.8M still matters because free cash flow stayed negative at -$16.2M, so the balance sheet is still helping carry the business.

Financial Health Signals

Financial Health Score 41/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Waldencast plc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Waldencast plc has an operating margin of -80.0%, meaning the company retains $-80 of operating profit per $100 of revenue. This below-average margin results in a low score of 19/100, suggesting thin profitability after operating expenses. This is down from -21.4% the prior year.

Growth

Waldencast plc's revenue declined 0.7% year-over-year, from $273.9M to $272.1M. This contraction results in a growth score of 69/100.

Leverage

Waldencast plc carries a low D/E ratio of 0.29, meaning only $0.29 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Waldencast plc's current ratio of 1.70 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Waldencast plc generated -$12.8M in operating cash flow, capex of $3.4M consumed most of it, leaving -$16.2M in free cash flow. This results in a low score of 18/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Waldencast plc generates a -49.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is down from -6.4% the prior year.

Piotroski F-Score Partial

3/8

Waldencast plc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.06x

For every $1 of reported earnings, Waldencast plc generates $0.06 in operating cash flow (-$12.8M OCF vs -$229.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$272.1M

YoY-0.7%

Waldencast plc generated $272.1M in revenue in fiscal year 2025. This represents a decrease of 0.7% from the prior year.

EBITDA

-$214.4M

YoY-287.9%

Waldencast plc's EBITDA was -$214.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 287.9% from the prior year.

Net Income

-$229.7M

YoY-441.3%

Waldencast plc reported -$229.7M in net income in fiscal year 2025. This represents a decrease of 441.3% from the prior year.

EPS (Diluted)

$-2.01

YoY-415.4%

Waldencast plc earned $-2.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 415.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$16.2M

YoY-40.9%

Waldencast plc generated -$16.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 40.9% from the prior year.

Cash & Debt

$30.4M

YoY+105.2%

Waldencast plc held $30.4M in cash against $135.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

67.3%

YoY-2.7pp

Waldencast plc's gross margin was 67.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.7 percentage points from the prior year.

Operating Margin

-80.0%

YoY-58.6pp

Waldencast plc's operating margin was -80.0% in fiscal year 2025, reflecting core business profitability. This is down 58.6 percentage points from the prior year.

Net Margin

-84.4%

YoY-68.9pp

Waldencast plc's net profit margin was -84.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 68.9 percentage points from the prior year.

Return on Equity

-49.7%

YoY-43.3pp

Waldencast plc's ROE was -49.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 43.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$3.4M

YoY+26.7%

Waldencast plc invested $3.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.7% from the prior year.

WALDW Income Statement

Metric	FY25	FY24	FY23	FY21	FY20
Revenue	$272.1M-0.7%	$273.9M+25.5%	$218.1M+53.1%	$142.5M	N/A
Cost of Revenue	$89.1M+8.4%	$82.1M+7.3%	$76.6M+39.1%	$55.0M	N/A
Gross Profit	$183.0M-4.6%	$191.7M+35.4%	$141.6M+61.9%	$87.4M	N/A
R&D Expenses	N/A	N/A	$3.2M-47.6%	$6.1M	N/A
SG&A Expenses	$248.0M+1.1%	$245.3M+9.7%	$223.5M+169.4%	$83.0M	N/A
Operating Income	-$217.5M-271.3%	-$58.6M+28.5%	-$81.9M-4941.9%	-$1.6M-407.8%	$528K
Interest Expense	N/A	$17.2M-9.3%	$18.9M+70.0%	$11.1M	N/A
Income Tax	-$14.2M-12999.1%	$110K+101.6%	-$7.0M-172.6%	$9.6M	N/A
Net Income	-$229.7M-441.3%	-$42.4M+52.8%	-$90.0M-359.6%	-$19.6M	N/A
EPS (Diluted)	$-2.01-415.4%	$-0.39+60.6%	$-0.99+59.6%	$-2.45-716.7%	$-0.30

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q3'22	Q1'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$4.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WALDW Balance Sheet

Metric	FY25	FY24	FY23	FY21	FY20
Total Assets	$746.2M-23.5%	$975.9M-6.4%	$1.0B+464.9%	$184.6M+110568.4%	$167K
Current Assets	$126.9M+22.5%	$103.6M-3.5%	$107.3M+81.8%	$59.0M+35295.6%	$167K
Cash & Equivalents	$30.4M+105.2%	$14.8M-29.8%	$21.1M+64.8%	$12.8M	N/A
Inventory	$54.6M+2.8%	$53.1M-4.6%	$55.7M+157.7%	$21.6M	N/A
Accounts Receivable	N/A	N/A	N/A	$18.7M	N/A
Goodwill	$177.6M-46.1%	$329.6M-1.5%	$334.6M+652.1%	$44.5M	N/A
Total Liabilities	$246.1M+0.1%	$245.9M-10.1%	$273.4M+88.1%	$145.3M+81673.7%	$178K
Current Liabilities	$74.5M-3.0%	$76.9M+22.6%	$62.7M+53.7%	$40.8M+22857.3%	$178K
Long-Term Debt	$135.8M-1.0%	$137.1M-9.3%	$151.3M+46.3%	$103.4M	N/A
Total Equity	$461.9M-30.3%	$662.3M+6.0%	$624.6M+1491.8%	$39.2M+358414.3%	-$11K
Retained Earnings	-$519.0M-79.4%	-$289.2M-17.2%	-$246.8M-280.5%	-$64.8M-592074.2%	-$11K

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q3'22	Q1'22
Total Assets	$746.2M-6.5%	$797.7M-18.3%	$975.9M-3.7%	$1.0B-2.8%	$1.0B-4.3%	$1.1B	N/A	$346.3M
Current Assets	$126.9M+20.5%	$105.3M+1.7%	$103.6M-3.4%	$107.2M-0.1%	$107.3M+17.9%	$91.0M	N/A	$1.3M
Cash & Equivalents	$30.4M+238.7%	$9.0M-39.4%	$14.8M-24.8%	$19.7M-6.6%	$21.1M+142.6%	$8.7M+34.2%	$6.5M+494.8%	$1.1M
Inventory	$54.6M-7.7%	$59.1M+11.4%	$53.1M+4.7%	$50.7M-9.0%	$55.7M+2.4%	$54.4M	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$177.6M0.0%	$177.6M-46.1%	$329.6M-1.5%	$334.6M0.0%	$334.6M0.0%	$334.6M	N/A	N/A
Total Liabilities	$246.1M-1.1%	$248.8M+1.2%	$245.9M-2.9%	$253.2M-7.4%	$273.4M-5.8%	$290.2M	N/A	$398.1M
Current Liabilities	$74.5M+8.3%	$68.8M-10.5%	$76.9M+5.6%	$72.8M+16.1%	$62.7M-13.5%	$72.5M	N/A	$1.8M
Long-Term Debt	$135.8M-16.8%	$163.2M+19.0%	$137.1M-5.6%	$145.3M-4.0%	$151.3M-5.0%	$159.2M	N/A	N/A
Total Equity	$461.9M-15.9%	$549.0M-17.1%	$662.3M+7.1%	$618.6M-1.0%	$624.6M-2.3%	$639.2M	N/A	-$51.8M
Retained Earnings	-$519.0M-13.1%	-$458.6M-58.6%	-$289.2M-12.6%	-$256.8M-4.1%	-$246.8M-57.4%	-$156.8M	N/A	-$51.8M

WALDW Cash Flow Statement

Metric	FY25	FY24	FY23	FY21	FY20
Operating Cash Flow	-$12.8M-45.3%	-$8.8M+70.4%	-$29.8M-943.7%	$3.5M	N/A
Capital Expenditures	$3.4M+26.7%	$2.7M+70.2%	$1.6M+275.2%	$424K	N/A
Free Cash Flow	-$16.2M-40.9%	-$11.5M+63.2%	-$31.4M-1110.2%	$3.1M	N/A
Investing Cash Flow	$76.2M+2710.5%	-$2.9M-46.4%	-$2.0M+47.3%	-$3.8M	N/A
Financing Cash Flow	-$47.2M-946.0%	$5.6M-87.4%	$44.3M+758.8%	$5.2M	N/A
Dividends Paid	N/A	N/A	$0-100.0%	$2.0M	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q3'22	Q1'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$9.6M-2219.8%	-$415K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WALDW Financial Ratios

Metric	FY25	FY24	FY23	FY21	FY20
Gross Margin	67.3%-2.7pp	70.0%+5.1pp	64.9%+3.5pp	61.4%	N/A
Operating Margin	-80.0%-58.6pp	-21.4%+16.2pp	-37.6%-36.4pp	-1.1%	N/A
Net Margin	-84.4%-68.9pp	-15.5%+25.7pp	-41.3%-27.5pp	-13.7%	N/A
Return on Equity	-49.7%-43.3pp	-6.4%+8.0pp	-14.4%+35.5pp	-49.9%	N/A
Return on Assets	-30.8%-26.4pp	-4.3%+4.3pp	-8.6%+2.0pp	-10.6%	N/A
Current Ratio	1.70+0.4	1.35-0.4	1.71+0.3	1.45+0.5	0.94
Debt-to-Equity	0.29+0.1	0.21-0.0	0.24-2.4	2.64	N/A
FCF Margin	-6.0%-1.8pp	-4.2%+10.2pp	-14.4%-16.6pp	2.2%	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q3'22	Q1'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.9%
Current Ratio	1.70+0.2	1.53+0.2	1.35-0.1	1.47-0.2	1.71+0.5	1.26	N/A	0.71
Debt-to-Equity	0.290.0	0.30+0.1	0.21-0.0	0.230.0	0.240.0	0.25	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Waldencast plc's annual revenue?

Waldencast plc (WALDW) reported $272.1M in total revenue for fiscal year 2025. This represents a -0.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Waldencast plc's revenue growing?

Waldencast plc (WALDW) revenue declined by 0.7% year-over-year, from $273.9M to $272.1M in fiscal year 2025.

Is Waldencast plc profitable?

No, Waldencast plc (WALDW) reported a net income of -$229.7M in fiscal year 2025, with a net profit margin of -84.4%.

What is Waldencast plc's EBITDA?

Waldencast plc (WALDW) had EBITDA of -$214.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Waldencast plc have?

As of fiscal year 2025, Waldencast plc (WALDW) had $30.4M in cash and equivalents against $135.8M in long-term debt.

What is Waldencast plc's gross margin?

Waldencast plc (WALDW) had a gross margin of 67.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Waldencast plc's operating margin?

Waldencast plc (WALDW) had an operating margin of -80.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Waldencast plc's net profit margin?

Waldencast plc (WALDW) had a net profit margin of -84.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Waldencast plc's return on equity (ROE)?

Waldencast plc (WALDW) has a return on equity of -49.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Waldencast plc's free cash flow?

Waldencast plc (WALDW) generated -$16.2M in free cash flow during fiscal year 2025. This represents a -40.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Waldencast plc's operating cash flow?

Waldencast plc (WALDW) generated -$12.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Waldencast plc's total assets?

Waldencast plc (WALDW) had $746.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Waldencast plc's capital expenditures?

Waldencast plc (WALDW) invested $3.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Waldencast plc's current ratio?

Waldencast plc (WALDW) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.

What is Waldencast plc's debt-to-equity ratio?

Waldencast plc (WALDW) had a debt-to-equity ratio of 0.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Waldencast plc's return on assets (ROA)?

Waldencast plc (WALDW) had a return on assets of -30.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Waldencast plc's cash runway?

Based on fiscal year 2025 data, Waldencast plc (WALDW) had $30.4M in cash against an annual operating cash burn of $12.8M. This gives an estimated cash runway of approximately 28 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Waldencast plc's Piotroski F-Score?

Waldencast plc (WALDW) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Waldencast plc's earnings high quality?

Waldencast plc (WALDW) has an earnings quality ratio of 0.06x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Waldencast plc?

Waldencast plc (WALDW) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.