Edgewell Personal Care Company (EPC): Business Model Canvas [Dec-2025 Updated]

You're looking at the strategic blueprint of Edgewell Personal Care Company after a pivotal fiscal year 2025 focused on portfolio simplification and brand investment, and frankly, the numbers tell a compelling story. As an analyst who's seen a few cycles, I can tell you their focus on core categories is paying off: Wet Shave alone brought in $1,218.9 million in revenue, helping them post an Adjusted EPS of $2.52 for the year, even while they poured 11.3% of Q2 net sales into Advertising and Sales Promotion to build those brands. Still, navigating inflation meant productivity savings were offset by core cost pressures, so understanding their exact operational levers is key. Below, we break down the full Business Model Canvas, showing exactly how they connect their established brands like Banana Boat with insurgent digital players like Billie across their 50+ markets.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Key Partnerships

The Key Partnerships for Edgewell Personal Care Company center on securing distribution, managing a complex global supply chain, and executing strategic portfolio refinement, such as the recent divestiture.

Major National and Global Retail Chains and E-commerce Platforms

Distribution relies heavily on major brick-and-mortar and digital channels, which compete for limited shelf space and e-commerce visibility. Edgewell Personal Care Company's full-year net sales for fiscal 2025 reached $2,223.5 million.

• Major national and global retail chains (e.g., Walmart, Target, CVS) are critical for volume placement across the Wet Shave, Sun Care, and Skin Care categories.
• E-commerce platforms like Amazon are essential for direct-to-consumer reach, especially as the company manages emerging direct-to-consumer brands under Edgewell Custom Brands.
• North America sales declined 4.4% organically in fiscal 2025, showing the pressure within key retail environments, despite international markets growing organically by 3.5%.

Strategic Suppliers and Contract Manufacturers

The operational backbone involves a broad base of domestic and global partners for raw materials and production. Edgewell Personal Care Company emphasizes strategic relationships to drive supply continuity and cultivate innovation.

The company has actively sought to manage input costs, evidenced by a November 2024 strategy to lock in Chinese supplier contracts for two- to three-year terms to control raw material pricing ahead of potential tariff increases.

Divestiture Partnership: Essity

The definitive agreement to sell the Feminine Care business to Essity is a major partnership event, streamlining the portfolio focus.

• Sale price for the Feminine Care business: $340 million.
• The divested business reported net sales of $261 million and segment operating profit of $17 million for the 12 months ending June 30, 2025.
• The purchase price represents an EBITDA multiple of approximately 12.1x (pro-forma IFRS) or 8.3x (including estimated run-rate synergies).
• The transaction is expected to reduce annualized adjusted EBITDA by $35-$45 million, net of transition-service income.

The sale, expected to close in the first quarter of calendar 2026, is intended to strengthen the balance sheet and allow continued investment in core categories.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Key Activities

You're looking at the core actions Edgewell Personal Care Company (EPC) is taking to run and grow the business as of late 2025. These aren't just ideas; they are the day-to-day, quarter-to-quarter execution points that drive the financial results you see.

Global manufacturing and supply chain optimization

EPC is actively working to make its global production and movement of goods leaner. This is a major focus area, especially given the external pressures like tariffs that management noted in fiscal 2025. The company is executing specific restructuring and repositioning actions, including organizational and operational changes in Mexico, to strengthen its operating model and improve supply chain efficiency. For the full fiscal year 2025, the pre-tax charges expected for these restructuring actions were approximately $33 million.

The operational execution is showing up in margin performance. In the second quarter of fiscal 2025, productivity savings alone contributed approximately 380-basis points to the gross margin expansion. This is a clear metric showing the direct financial benefit of these optimization efforts.

Brand building and advertising

A significant key activity is the investment in brand equity through advertising and sales promotion (A&P). This investment is aggressive, particularly in North America, to support core brands like Hawaiian Tropic and Billie amid softer consumption trends there. For the second quarter of fiscal 2025, A&P spending reached $65.5 million, representing 11.3% of net sales for that quarter. Looking at the full fiscal year 2025, total A&P spend was $246.7 million, which equated to 11.1% of the full-year net sales.

This investment is targeted to drive market share. For instance, in Q2 2025, Billie was reported to hold a 15% share of the women's shave category at Walmart and 14% at Target.

Product innovation in Wet Shave and Grooming

Innovation is a constant activity, especially in the Wet Shave and Grooming segments, which are strategic focus areas following the decision to divest the Feminine Care business. The company is deploying capital into these core categories. The growth in international markets, which saw organic growth of 3.5% for the full fiscal year 2025, was driven in part by Wet Shave and Grooming performance.

Here are some key operational and financial metrics related to the core activities:

Executing restructuring actions to improve operating model efficiency

The drive for an improved operating model is evident through leadership changes and cost-focused initiatives. The company implemented a leadership restructuring with a regional hub model in late 2024/early 2025 to accelerate decision-making and enhance operational efficiency. The focus is on simplifying the organization. The company recorded pre-tax restructuring and repositioning expenses of $12.2 million in the second quarter of fiscal 2025 alone, supporting these cost efficiency and effectiveness programs.

The overall financial discipline is also reflected in the balance sheet activities:

• Ended Q2 2025 with $170 million in cash on hand.
• Maintained access to an additional $229 million revolving credit facility.
• Reported a net debt leverage ratio of 3.8x at the end of Q2 2025.
• Returned $42.7 million to shareholders in Q2 2025.

Managing a global distribution network

EPC's ability to execute relies on its extensive reach. The company manages a global distribution network that spans across more than 50 markets. This broad footprint allows for the growth seen in international markets, which delivered organic growth of 2.9% in Q2 2025 and 3.5% for the full fiscal year 2025. This global scale is a key resource supporting the company's revenue streams outside of North America, which declined organically by 3.9% in Q2 2025.

The company is also strategically reshaping its portfolio to better align with this distribution network and future focus areas. Edgewell Personal Care agreed to sell its Feminine Care business for $340 million in November 2025, a move intended to transform the company into a more focused entity concentrating on Wet Shave, Sun and Skin Care, and Grooming.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Key Resources

You're looking at the core assets Edgewell Personal Care Company (EPC) relies on to operate and compete in the personal care space as of late 2025. These are the tangible and intangible things the company owns or controls that are essential to its value proposition.

Portfolio of established brands: The foundation remains the strength of its heritage brands. These include Schick, Banana Boat, Hawaiian Tropic, and Wet Ones. For example, Wet Ones organic net sales increased about 25% in the fourth quarter of fiscal 2025, as the company returned to normalized operational levels following a prior fiscal year facility fire.

Insurgent, high-growth brands: These represent the growth engine and innovation pipeline, including Billie, Cremo, Jack Black, and Bulldog. The Grooming segment, which houses some of these, delivered organic net sales growth of 9% in the fourth quarter of fiscal 2025. Specifically, Cremo saw over 28% growth, and Bulldog saw over 9% growth in that same period.

Financial Strength and Liquidity: Having the necessary capital is a key resource, especially during portfolio transformation. Edgewell Personal Care Company ended the fourth quarter with $225.7 million in cash on hand as of September 30, 2025. This is supported by access to an additional $279.5 million under the Company's U.S. revolving credit facility. The company also recently agreed to sell its Feminine Care business for $340 million. Here's a quick view of some year-end 2025 financial context:

Intellectual property and patents for shaving systems and sun care: Protecting innovation is crucial for maintaining competitive advantage in areas like shaving systems. Edgewell Personal Care Brands, LLC was granted a patent in July 2025 for a specific Razor cartridge design. Furthermore, for sun care and related topical products, a patent was granted in April 2025 for Hydrophobic topical compositions and methods for producing same. The company also had an international patent application published in September 2025 related to a RAZOR AND CASE.

Global manufacturing and formulation capabilities: Edgewell Personal Care Company maintains the physical infrastructure to produce and formulate its products globally. The company's full-year organic net sales decreased by 1.3% in fiscal 2025, while international markets delivered organic growth of 3.5%. The company's operational focus includes managing supply chain costs; for instance, COGS inflation, inclusive of tariffs, was noted as a factor impacting gross margin.

• The company's net debt leverage ratio stood at 3.9x at the end of fiscal 2025.
• The Board declared a quarterly cash dividend of $0.15 per common share for the fourth fiscal quarter of fiscal 2025.
• The company returned $119.5 million to shareholders in fiscal 2025 through repurchases and dividends.

Finance: draft 13-week cash view by Friday.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Value Propositions

You're looking at the core value drivers for Edgewell Personal Care Company (EPC) as of late 2025, grounded in the numbers from their fiscal year end September 30, 2025.

Trusted, established brands for everyday personal care needs

The value proposition rests on a portfolio that generated full-year net sales of $2,223.5 million for fiscal 2025, despite a 1.3% organic decrease for the year. The fourth quarter, however, showed a rebound with net sales increasing 3.8% over the prior year quarter, marking a 2.5% organic increase. This suggests the core brand equity is resilient, even with category headwinds. The company is actively sharpening this focus by divesting its Feminine Care business for $340 million to become more agile.

Key financial metrics for the fiscal year ended September 30, 2025, include:

• Full Year Net Sales: $2,223.5 million
• Full Year Organic Net Sales Change: -1.3%
• Q4 2025 Net Sales: $537.2 million
• Q4 2025 Organic Net Sales Change: +2.5%
• Fiscal 2025 Adjusted EPS: $2.52

Fairly priced, high-quality women's shave products (Billie)

The value proposition here is delivering a modern, digitally-native brand experience, now scaled through physical retail. The acquisition of Billie in November 2021 for $310 million continues to pay dividends in market penetration. This brand is showing real momentum, with its share increasing by 90 basis points in the fourth quarter of fiscal 2025.

The specific retail share gains for Billie as of late 2025 include:

Broad-spectrum, reliable sun protection (Banana Boat, Hawaiian Tropic)

This segment offers reliability in a market valued at an estimated $15.43 billion in 2025. Banana Boat remains a top contender, holding a 13% share of the US sunscreen category, while Hawaiian Tropic maintains approximately 5% market share. It's worth noting that Hawaiian Tropic's growth was specifically aided by updated formulations and marketing efforts in fiscal 2025. However, the segment faced pressure; Sun and Skin Care net sales fell 2.0% in Q2 FY2025, with profits declining 6.6%.

Here's a look at the competitive positioning in the US Sunscreen Category for late 2025:

Premium, specialized men's grooming products (Cremo, Jack Black)

The value here is premiumization and specialized efficacy within the expanding men's grooming space, which is estimated to be a $95.8 billion market globally in 2025. The Grooming segment, which includes Cremo, showed strong performance in Q1 FY2025, contributing to positive organic net sales growth for the quarter. This contrasts with the overall company trend, showing the strength of this specific value proposition.

Convenience of multi-category product bundling for retailers

The strategic move to divest the Feminine Care business for $340 million signals a value proposition shift toward a more focused portfolio, aiming for better execution and margin recovery in the remaining core categories. This streamlining is intended to enhance agility and consumer-driven focus for retailers across the Wet Shave and Sun & Skin Care pillars moving into fiscal 2026. The company is targeting an adjusted gross margin expansion of 60 basis points for fiscal 2026, partly through productivity gains of approximately 270 basis points delivered in fiscal 2025.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Customer Relationships

The core of Edgewell Personal Care Company (EPC) customer relationships remains anchored in the mass-market transactional relationship via major retailers.

For the full fiscal year 2025, Edgewell Personal Care Company (EPC) reported total net sales of $2,223.5 million, with the fourth quarter ending September 30, 2025, contributing $537.2 million in net sales.

The reliance on large retail partners is evident from historical data, where Walmart accounted for approximately 19.4% of net sales in fiscal 2023, and Target represented approximately 9.4% of Sun and Skin Care segment sales and 10.0% of Feminine Care segment sales in that same year.

The transactional nature is further segmented by the Q4 2025 results, showing Wet Shave as the largest category at $321.9 million in net sales, followed by Sun and Skin Care at $148 million, and Feminine Care at $67.3 million.

The North American market, which relies heavily on these channels, saw a decline of 4.4% in full-year fiscal 2025 organic net sales, contrasting with international markets which delivered organic growth of 3.5%.

Direct-to-consumer (DTC) engagement for insurgent brands (e.g., Billie) represents a modern layer of relationship building, even as these brands scale into physical retail.

The Billie brand, which was acquired in 2021, is noted as being among the fastest growing brands in the set where Edgewell Personal Care Company (EPC) competes as of May 2025.

While Billie started as an online subscription, its physical retail footprint has expanded significantly, now selling through over 30,000 doors across 21 retailers, including Target, CVS, Walgreens, and Kroger, in addition to selling select products on Amazon.

Integration costs related to the Billie acquisition were reported at $0.5 million in the first quarter of fiscal 2025.

Loyalty programs and targeted digital marketing for repeat purchases are supported by significant brand investment.

Advertising and sales promotion expense (A&P) was $65.5 million, or 11.3% of net sales, in the second quarter of fiscal 2025, increasing to $80.4 million, or 12.8% of net sales, in the third quarter of fiscal 2025.

Management reiterated a commitment to investing in brand-building efforts for key brands like Billie and Hawaiian Tropic to drive growth.

Dedicated sales force to manage key retail partner accounts is a necessity given the concentration of sales.

The company manages relationships across its portfolio, which includes brands like Cremo and Bulldog showing organic net sales growth of over 28% and over 9%, respectively, in Grooming during Q4 2025.

Customer service and product recall management for safety and trust are underpinned by the company's financial footing.

Edgewell Personal Care Company (EPC) returned $120 million to shareholders via dividends and share repurchases for the full fiscal year 2025.

The Board declared a cash dividend of $0.15 per common stock for the fourth quarter of fiscal 2025, and issued a new share repurchase authorization for up to $100 million on November 13, 2025.

As of the end of the fourth quarter, the company had $225.7 million in cash on hand.

The company reached a definitive agreement to sell its Feminine Care business for $340 million, signaling a strategic shift in its customer portfolio focus.

• Billie and Hawaiian Tropic noted as fastest growing brands as of May 2025.
• Billie retail presence across 21 retailers.
• Q2 2025 A&P Expense: $65.5 million.
• Q3 2025 A&P Expense: $80.4 million.
• Feminine Care Divestiture Value: $340 million.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Channels

You're looking at how Edgewell Personal Care Company (EPC) gets its $\mathbf{\$2,223.5 \text{ million}}$ in net sales from fiscal year 2025 into the hands of consumers. It's a mix of traditional shelf space and digital reach, though the North American piece of the pie saw organic sales decline by $\mathbf{4.4\%}$ for the full year.

Mass-market retailers and drug stores remain central to the distribution strategy. The reliance on key accounts is significant; for instance, Walmart alone accounted for $\mathbf{17.4\%}$ of Edgewell Personal Care Company (EPC)'s total net sales in fiscal 2025. This channel is where specific brand penetration is tracked closely.

• Billie brand holds a $\mathbf{15\%}$ share of the women\'s shave category at Walmart.
• Billie also commands a $\mathbf{14\%}$ share of the women\'s shave category at Target.

E-commerce platforms, like Amazon, and brand-specific direct-to-consumer (DTC) websites are part of the digital push, which is crucial for newer or digitally native brands like Billie. While specific e-commerce revenue percentage isn't explicitly broken out, the company is investing heavily in brand-building across its portfolio, which includes digital spend.

For international markets, wholesalers and distributors are the backbone, helping the company reach customers in over $\mathbf{50}$ markets globally. This network supported an organic growth rate of $\mathbf{3.5\%}$ internationally for fiscal 2025. You see this strength in specific regions; for example, Europe generated its third straight year of growth, and Greater China delivered double-digit growth in the fourth quarter of fiscal 2025.

Grocery stores and club stores are implicitly covered within the mass-market and high-volume retail strategy, supporting the overall sales base. The company's global distribution network is structured with a heavy concentration in the U.S. and surrounding regions, as the prompt specifies a $\mathbf{65\%}$ presence in North America.

Here's a quick look at the scale and performance metrics relevant to these channels for fiscal 2025:

Edgewell Personal Care Company (EPC) - Canvas Business Model: Customer Segments

Edgewell Personal Care Company (EPC) targets a diversified set of consumers across its global footprint, which spans more than 50 markets. The full fiscal year 2025 net sales totaled $2,223.5 million.

The customer base is segmented by need, geography, and brand affinity, as reflected in the fiscal 2025 performance:

• Mass-market consumers seeking value in essential personal care, primarily within the large North America segment, which saw an organic decline of 4.4% for the full fiscal year 2025.
• Younger, digitally-native consumers for insurgent brands like Billie, which contributed to a 5.1% organic net sales increase in the Grooming category during the first quarter of fiscal 2025.
• Men focused on premium grooming and skin care, including Cremo and Jack Black, which saw growth in North America during fiscal 2025.
• Global consumers, with International markets delivering organic growth of 3.5% for the full fiscal year 2025.
• Households requiring sun protection and wet wipes, where Wet Ones saw growth in North America in the fourth quarter of fiscal 2025, though overall Sun Care volumes declined in North America for the full year.

The performance across key geographic and product-aligned segments for the full fiscal year 2025 illustrates the differing demands of these customer groups:

The company's strategy involves targeted investments to strengthen specific brand-consumer relationships, such as incremental investment in Advertising and Sales Promotion Expense (A&P) of 6.3%, totaling $246.7 million for fiscal 2025, directed partly toward Sun Care, Woman's Shave, and Men's Grooming.

You can see the quarterly international performance varied:

• Q1 International Organic Growth: 2.0%
• Q2 International Organic Growth: 2.9%
• Q3 International Organic Growth: 2.2%
• Q4 International Organic Growth: 6.9%

Finance: draft 13-week cash view by Friday.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Cost Structure

When you look at the Cost Structure for Edgewell Personal Care Company (EPC), you see a business heavily weighted toward getting its products into consumers' hands and keeping the manufacturing engine running. For the full fiscal year 2025, the largest single component, representing the Cost of Goods Sold (COGS) for manufacturing and raw materials, totaled approximately $1,298.6 million, derived from the reported Gross Profit of $924.9 million on Net Sales of $2,223.5 million.

To manage this cost base, Edgewell Personal Care Company focused heavily on internal efficiencies. Productivity initiatives delivered over 270 basis points in gross savings across fiscal 2025, which is a solid operational achievement. Still, these savings faced significant external pressure, meaning the net benefit to the bottom line was muted by rising input costs and trade spending.

Here's a quick look at the major expense categories for fiscal 2025:

The pressure from inflation and tariffs is clearly visible when you examine the gross margin dynamics from the fourth quarter of fiscal 2025. Productivity gains were fighting an uphill battle against these external factors. You'd want to keep a close eye on how these costs translate into future pricing power, defintely.

The specific headwinds impacting gross margin in Q4 FY2025 included:

• Tariffs impact: Approximately 100 basis points.
• Core inflations impact: Approximately 45 basis points.
• Increased promotional levels (net of pricing): Approximately 25 basis points.

Advertising and Sales Promotion (A&P) expenses for the full fiscal year 2025 amounted to $246.7 million, representing 11.1% of net sales. This spend is critical for supporting the company's focus brands, but it's a significant outflow. Selling, General, and Administrative (SG&A) expenses for the year were $425.0 million, holding steady at 19.1% of net sales, though this included efforts to simplify the organization.

Finally, to execute on its transformation, Edgewell Personal Care Company recorded restructuring and repositioning charges. The approximate total for these charges in fiscal year 2025 was $44 million. This figure covers costs associated with organizational and operational changes, such as those in Mexico, aimed at driving future efficiency.

Edgewell Personal Care Company (EPC) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for Edgewell Personal Care Company (EPC) revenue streams as of late 2025, based on the full fiscal year results ending September 30, 2025. This is where the money actually came from.

The top-line performance for the full fiscal year 2025 saw total net sales land at $2,223.5 million, which was a decrease of 1.3% compared to the prior year. The revenue generation is clearly segmented, with the core categories driving the bulk of the top line, even as the company moves to divest its Feminine Care business for $340 million.

Here is a breakdown of the reported revenue streams based on the segment data you requested, alongside the overall financial context:

The international component of revenue streams showed resilience, delivering organic growth of 3.5% for fiscal 2025. This contrasts with the North America market, which saw a 4.4% organic decline, primarily due to lower volumes across Wet Shave, Feminine Care, and Sun Care. Still, growth in Skin Care and Grooming within North America provided some offset.

When you look at profitability supporting these revenue streams, the Gross Profit for the year was $924.9 million, resulting in a Gross Margin of 41.6% of net sales. The company also invested heavily in supporting these revenue drivers, with Advertising and Sales Promotion Expense (A&P) coming in at 11.1% of net sales for fiscal 2025.

The flow of cash back to shareholders is also a key part of the financial picture supporting the business model:

• Total returned to shareholders in FY2025: $119.5 million.
• Share repurchases: $90.2 million.
• Dividends paid: $29.3 million.

The Grooming brands, which include Cremo and Jack Black, are clearly part of the growth story, as the overall Grooming category saw increased volumes, even if the specific sales number isn't isolated in the required format. Finance: draft 13-week cash view by Friday.