Forensic Analysis · Consumer Staples / Food & Beverage · as of Sep 26, 2026
Edgewell Personal Care Co (EPC)
A forensic read on Edgewell Personal Care Co built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Grey Zone
Financial health
2.5
Distress distance
Clean
Earnings quality
6
Forensic signals
-13.6
P / E (ttm)
1.6%
ROE
$1.2B
Market cap
1.70%
Dividend yield
-1.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Edgewell Personal Care Co earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.5, placing it in the Grey zone. 6 forensic signals were flagged in its latest SEC filings, led by cash conversion.
What the filings flag
-1.38×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, cumulative operating cash flow was -1.38× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.
2.7%
FY2025
Return on invested capital.Return on invested capital is 2.7% in the latest fiscal year and slipping across FY2023–FY2025 from 5.9%. After-tax operating profit was $176M in FY2023 and $87M in FY2025, with operating income at 10.1% of revenue in FY2023, 8.8% in FY2024 and 4.3% in FY2025. The capital base behind it cannot be compared across FY2023–FY2025: cash is tagged in one of those two fiscal years and not the other, and an untagged line enters this calculation as zero, so any change in the base would be a change in what the filer tagged. FY2025's operating profit carried a $51M goodwill write-off and a $48M restructuring charge that alone took about 2.8 points off that year's return, so about 2.8 of the 3.2-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less. FY2024's operating profit carried a $36M restructuring charge that alone took about 1.0 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it.
289% of FCF
FY2025
Shareholder returns.Returned $120M to shareholders (buybacks + dividends) in FY2025 — 289% of free cash flow. That is $78M (189%) more than free cash flow covered, and more than operating cash flow as well. New debt covered it: total debt rose $108M over FY2025. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $24M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 348%.
Key fundamentals
Latest Revenue$2.22B
Revenue Growth YoY-1.3%
Revenue CAGR (2yr)-0.6%
Net Margin1.1%
Free Cash Flow$41.4M
Return on Equity1.6%
Debt / Equity0.89x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Edgewell Personal Care Co's actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 26, 2026. Forensic signals flag probability, not certainty.
Edgewell Personal Care Co (EPC) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
$51M
FY2025–FY2025
Goodwill impairments.Took $51M of goodwill writedowns across 1 year (FY2025 ($51M)) — about 201% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
+10.3%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +10.3% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +26% against revenue -1%. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 3% of net operating assets, against an accruals ratio of 10.3%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
23d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 18 to 23 days FY2024→FY2025 (receivables +26% vs revenue -1%). Receivables are creeping up relative to sales. Only -138¢ of operating cash arrived for every dollar of profit reported over FY2023–FY2025 (-$328.7M against $238.7M), and the receivables balance is one of the places the rest is sitting. Across FY2023–FY2025 the day count ran 17 → 18 → 23 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.