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How WD 40 (WDFC) makes money

WD 40 (WDFC) made $177M of revenue in the fourth quarter fiscal 2026 (Q4 FY26). Total maintenance products brought in $170M (96%); HCCP brought in $6.3M (4%). Of every dollar of revenue, 53¢ was left as gross profit, 11¢ was left as operating profit, 8¢ was left as net earnings.

Drawing the Sankey…

WD 40 revenue by segment, Q4 FY26WD 40 revenue by segment, Q4 FY26Total maintenance products$170MHCCP$6.3M
WD 40: revenue by line, Q2 FY25 to Q4 FY26WD 40: revenue by line, Q2 FY25 to Q4 FY26Total maintenance pro…HCCPTotal maintenance products: $170M latest$170MHCCP: $6.3M latestQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26
The mix barely moved between Q2 FY25 and Q4 FY26.
WD 40 revenue by quarterWD 40 revenue by quarter$146MQ2 FY25$157MQ3 FY25$163MQ4 FY25$154MQ1 FY26$162MQ2 FY26$195MQ3 FY26$177MQ4 FY26
WD 40: where each dollar of revenue goesWD 40: where each dollar of revenue goesCost of revenue47¢Gross profit53¢Operating expenses42¢Operating profit11¢Income tax2¢Net earnings8¢Operating cash flow28¢Free cash flow26¢

Revenue by segment, Q4 FY26

SegmentRevenueShareQ/QY/Y
Total maintenance products$170M96.4%-10%—
  ↳ WD-40 Multi-Use Product$135M76.3%-12%—
  ↳ WD-40 Specialist$26.2M14.8%-7%—
  ↳ Other maintenance products$9.3M5.3%+1%—
HCCP$6.3M3.6%+17%—

Where each dollar of revenue goes

LineQ4 FY26% of revenue
Revenue$177M100.0%
Cost of revenue$83.5M47.2%
Gross profit$93.3M52.8%
Operating expenses$74.2M42.0%
Operating profit$19.1M10.8%
Income tax$4.1M2.3%
Net earnings$14.4M8.1%
Operating cash flow$50.2M28.4%
Free cash flow$46.7M26.4%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q4 FY26$177M+8%
Q3 FY26$195M+24%
Q2 FY26$162M+11%
Q1 FY26$154M+0.6%
Q4 FY25$163M+5%
Q3 FY25$157M+1%
Q2 FY25$146M+5%

From WD 40's 10-K filed Oct 26, 2026 (on EDGAR).

Questions

How does WD 40 make money?

WD 40 (WDFC) made $177M of revenue in the fourth quarter fiscal 2026 (Q4 FY26). Total maintenance products brought in $170M (96%); HCCP brought in $6.3M (4%). Of every dollar of revenue, 53¢ was left as gross profit, 11¢ was left as operating profit, 8¢ was left as net earnings.

What is WD 40's biggest business?

Total maintenance products: $170M in the fourth quarter fiscal 2026, 96% of revenue.

What is WD 40's profit margin?

Net earnings were $14.4M, 8.1% of revenue, in the fourth quarter fiscal 2026; the operating margin was 10.8%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.