A Business at a Glance
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Table of Contents ITEM 4. INFORMATION ON THE COMPANY A.History and Development of the Company Waldencast was a blank check company that was incorporated on December 8, 2020, as Waldencast Acquisition Corp., a Cayman Islands exempted company. In connection with the Business Combination, on July 26, 2022, with the approval of the Company’s shareholders, and in accordance with the Cayman Companies Act, the Jersey Companies Law and the Company’s Constitutional Document, the Company’s jurisdiction of incorporation was changed from the Cayman Islands to Jersey and its name changed to Waldencast (the “Domestication”). As a result of the Domestication, (i) each then issued and outstanding Waldencast Acquisition Corp. Class A ordinary share was converted automatically, on a one-for-one basis, into a Class A ordinary share of Waldencast, (ii) each then issued and outstanding Waldencast Acquisition Corp.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 272M | 274M | 218M | 142M | 94M |
| Net Income | -18M | -230M | -42M | -90M | -20M | -2.4M |
| EPS | $-2.32 | $-2.01 | $-0.39 | $-0.99 | $-2.45 | $-0.30 |
| Free Cash Flow | 0 | -16M | -12M | -31M | 3.1M | -8.5M |
| ROIC | -1.3% | -32.9% | -5.3% | -11.6% | -27.4% | - |
| Gross Margin | - | 67.3% | 70.0% | 64.9% | 61.4% | 69.2% |
| Debt/Equity | 0.00 | 0.32 | 0.32 | 0.30 | 3.03 | - |
| Dividends/Share | $0.00 | - | - | $0.25 | $0.25 | $0.26 |
| Operating Income | -5.5M | -218M | -59M | -82M | -9.1M | 528K |
| Operating Margin | 0.0% | -80.0% | -21.4% | -37.6% | -6.4% | 0.6% |
| ROE | 0.0% | -40.9% | -6.4% | -14.4% | -99.8% | - |
| Shares Outstanding | 35M | 114M | 109M | 91M | 8M | 8M |
| Metric | 2020 | 2021 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 94M | 142M | 218M | 274M | 272M | 0 |
| Gross Margin | 69.2% | 61.4% | 64.9% | 70.0% | 67.3% | N/A |
| R&D | 4.4M | 6.1M | 3.2M | N/A | N/A | N/A |
| SG&A | 60M | 83M | 224M | 245M | 248M | 248M |
| EBIT | 528K | -9.1M | -82M | -59M | -218M | -5.5M |
| Op. Margin | 0.6% | -6.4% | -37.6% | -21.4% | -80.0% | 0.0% |
| Net Income | -2.4M | -20M | -90M | -42M | -230M | -18M |
| Net Margin | -2.5% | -13.7% | -41.2% | -15.5% | -84.4% | 0.0% |
| Non-Recurring | 0 | -52K | 0 | 5.0M | 152M | 0 |
| Returns on Capital | ||||||
| ROIC | N/A | -27.4% | -11.6% | -5.3% | -32.9% | -1.3% |
| ROE | N/A | -99.8% | -14.4% | -6.4% | -40.9% | 0.0% |
| ROA | N/A | -21.2% | -8.6% | -4.3% | -26.7% | -5.3% |
| Cash Flow | ||||||
| Op. Cash Flow | -7.4M | 3.5M | -30M | -8.8M | -13M | 3.2M |
| Free Cash Flow | -8.5M | 3.1M | -31M | -12M | -16M | 0 |
| Owner Earnings | -7.4M | 3.5M | -100M | -78M | -84M | -68M |
| CapEx | 1.1M | 424K | 1.6M | 2.7M | 3.4M | 0 |
| Maint. CapEx | 0 | 0 | 60M | 60M | 59M | 59M |
| Growth CapEx | N/A | N/A | 0 | 0 | 0 | 0 |
| D&A | 0 | 0 | 60M | 60M | 59M | 59M |
| CapEx/OCF | N/A | 12.0% | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 2.0M | 2.0M | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | 2.5% | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 0 | 0 | 9.2M | 9.4M | 12M | 12M |
| Debt Repayment | 9.4M | 72M | 8.8M | 8.8M | 405M | 405M |
| Balance Sheet | ||||||
| Net Debt | N/A | -239M | 144M | 182M | 89M | -678K |
| Cash & Equiv. | 8.6M | 13M | 21M | 15M | 30M | 2.2M |
| Long-Term Debt | N/A | 103M | 151M | 137M | 136M | 1.5M |
| Debt/Equity | N/A | 3.03 | 0.30 | 0.32 | 0.32 | 0.00 |
| Interest Coverage | 0.1 | -0.8 | -4.3 | -3.4 | -8.7 | -8.7 |
| Equity | -11K | 39M | 625M | 662M | 462M | -52M |
| Total Assets | N/A | 185M | 1.0B | 976M | 746M | 346M |
| Total Liabilities | N/A | 145M | 273M | 246M | 246M | 53M |
| Intangibles | N/A | 80M | 583M | 526M | 427M | 427M |
| Retained Earnings | -11K | -65M | -247M | -289M | -519M | -52M |
| Working Capital | -11K | 18M | 45M | 27M | 52M | -517K |
| Current Assets | 167K | 59M | 107M | 104M | 127M | 1.3M |
| Current Liabilities | 178K | 41M | 63M | 77M | 75M | 1.8M |
| Per Share Data | ||||||
| EPS | -0.30 | -2.45 | -0.99 | -0.39 | -2.01 | -2.32 |
| Owner EPS | -0.94 | 0.44 | -1.09 | -0.72 | -0.73 | -1.97 |
| Book Value | -0.00 | 4.91 | 6.87 | 6.09 | 4.04 | -1.50 |
| Cash Flow/Share | -0.94 | 0.44 | -0.33 | -0.08 | -0.11 | 1.18 |
| Dividends/Share | 0.26 | 0.25 | 0.25 | N/A | N/A | 0.00 |
| Shares Out. | 7.9M | 8.0M | 90.9M | 108.8M | 114.3M | 34.5M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -0.5 |
| P/FCF | N/A | 25.6 | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 27.2 | 1.6 | 0.7 | N/A | N/A |
| Price/Sales | N/A | 7.4 | 3.6 | 1.9 | N/A | N/A |
| FCF Yield | N/A | 0.3% | -3.1% | -2.7% | N/A | N/A |
| Market Cap | 0 | 1.1B | 1.0B | 431M | 0 | 37M |
| Avg. Price | 0.00 | 9.85 | 8.58 | 4.87 | 0.00 | 1.06 |
| Year-End Price | 0.00 | 9.94 | 11.23 | 3.96 | 0.00 | 1.06 |
Waldencast plc passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 66.5%. At current prices, the estimated annualized return to fair value is -12.0%.
Waldencast plc (WALD) has a 5-year average return on invested capital (ROIC) of -19.3%. This is below average and may indicate limited pricing power.
Waldencast plc (WALD) has a market capitalization of $37M. It is classified as a small-cap stock.
Waldencast plc (WALD) does not currently pay a regular dividend.
Waldencast plc (WALD) operates in the Perfumes, Cosmetics & Other Toilet Preparations industry, within the Consumer Defensive sector.
Waldencast plc (WALD) reported annual revenue of $272 million in its most recent fiscal year, based on SEC EDGAR filings.
Waldencast plc (WALD) has a net profit margin of -84.4%. The company is currently unprofitable.
Waldencast plc (WALD) generated $-16 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Waldencast plc (WALD) has a debt-to-equity ratio of 0.32. This indicates a conservatively financed balance sheet.
Waldencast plc (WALD) reported earnings per share (EPS) of $-2.01 in its most recent fiscal year.
Waldencast plc (WALD) has a return on equity (ROE) of -40.9%. A negative ROE may indicate losses or negative equity.
Waldencast plc (WALD) has a 5-year average gross margin of 66.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for Waldencast plc (WALD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Waldencast plc (WALD) has a book value per share of $4.04, based on its most recent annual SEC filing.