Church & Dwight Co., Inc.

Church & Dwight Co., Inc. is an American consumer packaged goods company that develops, manufactures, and markets household and personal care products and specialty products, generating $6.20 billion in revenue in fiscal 2025. The company's seven "power brands" — ARM & HAMMER, OXICLEAN, BATISTE, WATERPIK, THERABREATH, HERO, and TOUCHLAND — account for roughly 70% of net sales and profits and span laundry detergent, cat litter, dry shampoo, water flossers, oral care, acne treatment, and hand sanitizers.

This is a story about a company that spent 2025 aggressively cleaning house. Church & Dwight sold its declining vitamin business, exited three underperforming personal-care lines, and acquired fast-growing Touchland hand sanitizers — all while absorbing $190 million of tariff exposure and maintaining flat gross margins. The resulting portfolio is leaner, faster-growing, and less exposed to private-label competition than the one that entered the year. The central question the file turns on is straightforward: does a reshaped portfolio growing organic revenue at 3–4% with 100 basis points of gross margin expansion ahead justify a multiple north of 30 times earnings, or is the market already pricing the cleanup?

Church & Dwight's unusual competitive position — a 179-year-old baking-soda company that runs with the highest revenue per employee in the industry and competes successfully against Procter & Gamble — makes it a case study in whether a mid-cap staples franchise can sustain a premium valuation in a consolidating sector where the biggest players are increasingly encroaching on its categories.