
![On January 28, 2026, the Company declared a 4.2% increase in its
quarterly dividend from $0.295 per share to $0.3075 per share.
2025 Key Financial Results
Worldwide net sales increased 1.6%.
Organic sales increased 0.7%.
7f v|;7 ]uovv ruoC| l-u]bm -v Y-|
7f v|;7 or;u- m] ruoC| l-u]bm -v Y-| -|
;| 1-v_ =uol or;u- omv -v 0b bom
7f v|;7 ;-umbm]v r;u v_-u;7 bm1u;-v;7
in millions, except per share data
2025
2024
reported
adjusted*
;| "- ;v
uovv uoC| -u]bm
m1ol; =uol r;u- omv
r;u- m] uoC| -u]bm
reported
adjusted*
;| m1ol;
;| m1ol; ;u "_-u; b |;7
b b7;m7v ;u "_-u;
+;-u ;m7 "|o1h ub1;
Net Sales
Adjusted Earnings Per Share (1)
(in millions of dollars)
(in dollars)
$5,868
$6,107
$6,203
2023
2024
2025
$3.17(2)
2023
$3.44(3)
$3.53(4)
2024
2025
ou -77b om- bm=oul- om v;; -m-];l;m| v bv1 vvbom -m7 m- vbv o= bm-m1b- om7b om -m7 !;v |v o= r;u- omv bm1 7;7 bm |_; olr-m v mm - !;rou| om oul =ou |_; ;-u ;m7;7
;1;l0;u
$_bv -mm - u;rou| bm1 7;v mom Cm-m1b- l;-v u;v bm1 7bm] -7f v|;7 bm1ol; =uol or;u- omv -7f v|;7 or;u- m] ruoC| l-u]bm -7f v|;7 m;| bm1ol; -7f v|;7 " ou]-mb1 v- ;v -m7 =u;;
1-v_ Yo _b1_ 7b@;u =uol u;rou|;7 u;v |v vbm] ;m;u- 11;r|;7 11o m m] ubm1br ;v
$_bv -mm - u;rou| ru;v;m|v -7f v|;7 " m-l; ;-umbm]v r;u v_-u; 1- 1 -|;7 bm -11ou7-m1; b|_ -v -7f v|;7 |o ; 1 7; vb]mbC1-m| om; l; b|;lv |_-| -u; mo| bm7b1- ; o= |_;
olr-m v r;ubo7 |o r;ubo7 r;u=oul-m1; ); 0; b; ; |_-| |_bv l;|ub1 ruo b7;v bm ;v|ouv - v;= r;uvr;1 ; o= m7;u bm] 0 vbm;vv |u;m7v -m7 u;v |v -m7 ruo b7;v v;= v rr ;l;m|-
bm=oul- om u;]-u7bm] o u ;-u o ;u ;-u ;-umbm]v r;u v_-u; ]uo |_
7f v|;7 " ; 1 7;v blr-1| u; -|;7 |o u;v|ub1|;7 v|o1h |_-| -v bvv ;7 =ou |_; ;uo -1t bvb om _b1_ b 0; |u;-|;7 -v 1olr;mv- om ; r;mv;
7f v|;7 " ; 1 7;v - ( " blr-bul;m| 1_-u]; - 1_-u]; u; -|;7 |o u;v|ub1|;7 v|o1h bvv ;7 bm |_; ! -1t bvb om -m7 - 0;m;C| =uol |-ub@ u;= m7v
7f v|;7 " ; 1 7;v - 0 vbm;vv ; b| u; -|;7 blr-bul;m| - 1_-u]; u; -|;7 |o u;v|ub1|;7 v|o1h bvv ;7 bm |_; ! -1t bvb om - =ou ! ruof;1| 1ov|v - 1_-u];
=uol |_; )-|;urbh u;v|u 1| ubm] - 1_-u]; u; -|;7 |o u;v|ub1|;7 v|o1h bvv ;7 bm |_; $ & -1t bvb om =ou |_; $ & ;-umo | -m7 =ou |_; ( " 7b ;v | u;](/chd/chd-shareholder-letter-20260319-page-2.png)
![ourou-|; m=oul- om
_ u1_ b]_| o m1 =o m7;7 bm bv |_;
$ ! ! $ ! -m7 $ & 0o |
;-7bm] & " ruo7 1;u o= vo7b l 0b1-u0om-|; ror -u
o= |_; olr-m v 7ol;v 1 1omv l;u ruo7 1|v
hmo m -v 0-hbm] vo7- - m-| u- ruo7 1| |_-| 1 ;-mv
-u; vo 7 m7;u |_; ! ! 0u-m7 m-l; -m7
7;o7oub ;v ;- ;mv -m7 0 @;uv $_; olr-m v !
7;ub - ; |u-7;l-uhv v 1_ -v ! ! bt b7
! 0u-m7 bv om; o= |_; m- om v lov| |u v|;7
-m7 ro 7;u - m7u 7;|;u];m| ! ! 1-|
|u-7;l-uhv =ou - 0uo-7 u-m]; o= 1omv l;u -m7 vr;1b- |
b ;u ! ! 7;m|- 1-u; -m7 ! !
ruo7 1|v 7; ; or;7 =uol |_; 0-v; o= vo7b l 0b1-u0om-|;
0-hbm] vo7- $_; u;l-bmbm] ro ;u 0u-m7v _- ; 0;;m
-m7 u; -|;7 |;1_mo o]b;v
-77;7 |o |_; olr-m v rou o bo vbm1; |_uo ]_ -
v;ub;v o= -1t bvb omv
_ u1_ b]_| v 1omv l;u ruo7 1|v 0 vbm;vv bv ou]-mb ;7
bm|o | o v;]l;m|v omv l;u ol;v 1 _b1_ ;m1olr-vv;v
$_; 1ol0bm- om o= |_; 1ou; ! ! 0u-m7v
0o|_ _o v;_o 7 -m7 r;uvom- 1-u; ruo7 1|v -m7 omv l;u
-m7 |_; o|_;u ro ;u 0u-m7v l-h; _ u1_ b]_| om;
m|;um- om- _b1_ rubl-ub 1omvbv|v o= r;uvom- 1-u;
o= |_; ;-7bm] 1omv l;u r-1h-];7 ]oo7v 1olr-mb;v bm |_;
ruo7 1|v $_; olr-m _-v v; ;m h; 0u-m7v u;ru;v;m m]
&mb|;7 "|-|;v _ u1_ b]_| v |_bu7 0 vbm;vv v;]l;m|
-rruo bl-|; o= b|v u; ;m ;v $_;v; ro ;u 0u-m7v
bv "r;1b- | uo7 1|v $_bv 0 vbm;vv bv - ;-7;u bm vr;1b- |
bm1 7; ! ! * $ "$ ) $ !
bmou]-mb1 1_;lb1- v -mbl- m |ub om -m7 vr;1b- | 1 ;-m;uv
Growth Driven by 7 Power Brands
ARM & HAMMER
ou; -bv ;v bm |_; ]uo1;u v|ou; |_-m -m o|_;u 0u-m7
ruo7 1|v -u; bm o= & " _o v;_o 7v
OXICLEAN
#1 Stain Fighter
BATISTE
#1 Dry Shampoo
WATERPIK
#1 Power
Water Flosser
THERABREATH
o |_ -v_
HERO
1m; u-m7
TOUCHLAND
-m7 "-mb ;u & "
"o u1; bu1-m- $o|- &" & +$ | o ;-u 1 l - ; 7-|- |_uo ]_
Annual Report 2025 | 1](/chd/chd-shareholder-letter-20260319-page-3.png)
![RICHARD A. DIERKER
LEE MCCHESNEY
PATRICK D. DE MAYNADIER, ESQ.
President and
_b;= ;1 ; L1;u
;1 ; (b1; u;vb7;m|
_b;= bm-m1b- L1;u
;1 ; (b1; u;vb7;m|
;m;u- o mv; -m7 ";1u;|-u
Dear Fellow Stockholder,
u 1olr-m 7; b ;u;7 -mo|_;u ;-u o= u; ;m ; -m7
earnings growth despite a challenging macroeconomic
-m7 1omv l;u ;m buoml;m| -@;1 m] o u ;m u; bm7 v|u
0- -m1;7 -m7 u;rovb om;7 rou o bo o= - ; -m7
ru;lb l ruo7 1|v -m7 o u u; ;m| ;vv =o1 v om ; ;1 om
7; b ;u;7 v|uom] u;v |v =ou o u v|o1h_o 7;uv 1 v|ol;uv
-m7 o u ;lr o ;;v
!;rou|;7 m;| v- ;v ;u; lb bom -
bm1u;-v;
u]-mb1 v- ;v bm1u;-v;7 $_; omv l;u
ol;v 1 0 vbm;vv 7;1 bm;7 omv l;u
m|;um- om- 0 vbm;vv ]u; -m7 o u "r;1b- |
uo7 1|v 0 vbm;vv ]u;
7f v|;7 ]uovv l-u]bm _; 7 v|;-7 bm -|
-v o u ruo7 1 b| ruo]u-lv bm1u;-v;7 o l;v
rovb ; lb ;u; o@v;| 0 bmY- om -m7 |-ub@v m;|
o= lb ]- om ;@ou|v
7f v|;7
" -v r;u v_-u; - bm1u;-v;
); ];m;u-|;7 0b bom o= 1-v_ =uol or;u- m]
-1 b ;v -m7 bm ;v|;7 lb bom bm 1-rb|-
; r;m7b| u;v u;v m] bm =u;; 1-v_ Yo o= 0b bom
m ; u;| um;7 - lov| 0b bom o= 1-v_ |o
v|o1h_o 7;uv |_uo ]_ 7b b7;m7v lb bom -m7
0 0-1hv lb bom
); -1t bu;7 |_; $ &
0u-m7 o= _-m7
v-mb ;uv $_bv -1t bvb om l;| o u om] v|-m7bm]
-1t bvb om 1ub|;ub- ou 0u-m7 bm - 1-|;]ou
-vv;| b]_| - ]uo bm] 0u-m7 -m7 ]uovv
l-u]bm -11u; ; |o |_; olr-m
2 | Church & Dwight Co., Inc.
); u;rovb om;7 o u rou o bo 0 ; b m] o u ;vv
ruo7 1 ; ( " ) "" " !&" -m7
) $ ! v_o ;u_;-7 0 vbm;vv;v $_;v; -1 omv
;m-0 ; v |o 7; o|; ]u;-|;u =o1 v |o o u rou o bo v
=-v|;u ]uo bm] - ; -m7 ru;lb l ruo7 1| bm;v
Evergreen Model
u om] |;ul v|u-|;] =ou 7; b ;ubm] v r;ubou u;| umv bv
0 b | om o u ;u]u;;m 0 vbm;vv lo7; _b1_ |-u];|v
-mm - ou]-mb1 u; ;m ; ]uo |_ -m7 -mm - ;-umbm]v
r;u v_-u; " ]uo |_ u ou]-mb1 u; ;m ; ]uo |_ ]o-
bv 7ub ;m 0 |-u];|v o= & " m|;um- om- -m7
"r;1b- | uo7 1|v " ]uo |_ bv = ; ;7 0 ou]-mb1
u; ;m ; ]uo |_ |o 0-vbv robm|v o= ]uovv l-u]bm
; r-mvbom l-uh; m] bm ;v|l;m| -| o= v- ;v -m7 "
; ;u-]; o= |o 0-vbv robm|v _b ; 0- -m1bm] ;L1b;m1
b|_ v|u-|;]b1 bm ;v|l;m|v |o v v|-bm om] |;ul ]uo |_
u ;u]u;;m lo7; u;v |v -u; |_; o |r | o= l-m =o1 v
-u;-v 0 b 7bm] 0u-m7v 1omv l;uv o ; o u v 11;vv=
bmmo - om rbr; bm; - u;vb b;m| -m7 -]b ; v rr 1_-bm b|_
- ; ;v|-0 bv_;7 ruo7 1 b| -m7 1ov| v- bm]v ruo]u-lv
m ; ; r;1| ou]-mb1 u; ;m ; ]uo |_ -m7
-7f v|;7 " ]uo |_ 7ub ;m 0 ; r;1|;7 ]uo |_
bm - 7b bvbomv 1om m ;7 $ & lol;m| l -m7
]uovv l-u]bm ; r-mvbom $_bv o | ooh o@v;|v o u v|u-|;]b1
0 vbm;vv ; b|v _b1_ u;ru;v;m|v lb bom o= o ;u
u; ;m ; -m7 u; -|;7 v|u-m7;7 1ov|v ); ; r;1| |o ];m;u-|;
lou; |_-m 0b bom bm 1-v_ =uol or;u- omv
m ; ; ;1 |;7 v|u-|;]b1- blrou|-m| -1 omv
|_-| = u|_;u v|u;m]|_;m o u v_ou| -m7 om] |;ul ]uo |_
ruoC ; -m7 ;m-0 ;v v |o 7; o|; ]u;-|;u =o1 v om o u
=-v|;u ]uo bm] _b]_;u l-u]bm 0u-m7v $_ov; -1 omv
bm1 7;7 |_; v- ; o= o u " !&" -m7 b|-lbm 0u-m7v](/chd/chd-shareholder-letter-20260319-page-4.png)
![-v ; -v 7bv1om m bm] o u ) "" -m7 ) $ !
v_o ;u_;-7 ruo7 1| bm;v $_;v; -1 omv - vo l-|;ub-
u;7 1;7 o u rub -|; -0; ; rov u; -m7 =u;;7 u;vo u1;v |o
u;bm ;v| 0;_bm7 o u bm7 v|u ;-7bm] o ;u u-m7v )_b ;
|_;v; ; b|v 1u;-|; lb bom o= u; ;m ; ru;vv u; bm
|_; rovb om v |o 7ub ; - lou; u;vb b;m| om] |;ul
1omv l;u ;7 1ou; ]uo |_ v|u-|;] _b ; v rrou m] o u
o l; 7ub ;m ]uo |_ o | ooh $o r | |_bv bm r;uvr;1 ;
o u 1omv lr om ]uo |_ o= o 7 _- ; 1 bl0;7
|o -rruo bl-|; bm |_; -0v;m1; o= |_;v; 7b ;v|;7
-m7 7bv1om m ;7 ruo7 1| bm;v
b ;uvbC;7 uo7 1| ou o bo
$_; = | u; 0ubm]v - ruboub ;7 =o1 v;7 v;| o= ]uo |_
bmb - ;v 7;vb]m;7 |o _; r v o |r;u=oul o u 1-|;]oub;v
-m7 7; b ;u om |_; ;u]u;;m lo7; ; ;m -]-bmv| -m
bm7 v|u b7; v o ;u ]uo |_ l-1uo;m buoml;m| $_;v;
v|u-|;]b;v bm1 7; ; r-m7bm] |_; ! ! 0u-m7
=uol -rruo bl-|; 0b bom |o 0b bom |_uo ]_ ]uo |_
bm |_; 1ou; =u-m1_bv;v - 7bv1br bm;7 ]oo7 0; ;u 0;v|
-u1_b|;1| u; v; ;1| m; 1-|;]ou ;m|ub;v -m7 ; ;u-]bm]
bm _o v; b1;mvbm] -v -m bm1 0-|ou =ou = | u; ; r-mvbom
); r -m |o v1- ; ou- 1-u; |o -u7 0b bom 0 0 b 7bm]
|_; $ ! ! $ 0u-m7 7ub ;m bm r-u| 0 - l;-mbm]
= lo ; bm|o |oo|_r-v|; ); -u; ; ;1 m] om -]]u;vvb ;
bm|;um- om- ]uo |_ v|u-|;]b;v bm1 7bm] |-u];|;7 -1t bvb
omv |_-| ; 0; b; ; ; _; r ]uo o u o ;uv;-v 0 vbm;vv
=uol -rruo bl-|; 0b bom |o 0b bom o ;u l;
)_b ; ; v; o ;u 0u-m7v v; ;m o= |_;v; 0u-m7v
];m;u-|; lou; |_-m o= o u u; ;m ;v -m7 ruoC|v
_b ; rubl-ub 1olr; m] bm -u];u 1-|;]oub;v b|_
|_; ro|;m - =ou ] o0- ; r-mvbom $_; v; ;m 0u-m7v
-u; ! ! * $ "$
) $ ! $ ! ! $ ! -m7
$ & u v; ;m o ;u u-m7v -u; u-m7v
omv l;uv o ; -m7 1omv;t ;m| -u; l-uh;| ;-7;uv
bm lov| 1-|;]oub;v ); 1omm;1| b|_ 1omv l;uv |_uo ]_
bmmo - ; m; ruo7 1|v 1u;- ; l-uh; m] 1-lr-b]mv
-m7 v v|-bm;7 l-uh; m] vr;m7bm] u;v m] bm _b]_ l-uh;|
v_-u;v =ou o u 0u-m7v o u o= |_; v; ;m o ;u u-m7v
]-bm;7 l-uh;| v_-u; bm 7;vrb|; |_; l-1uo;1omolb1
;m buoml;m| $_; ! -m7 $ ! ! $ 0u-m7v
v- 7o 0 ; 7b]b| ]uo |_ ] o0-
Total Shareholder Return (TSR)
b]_ m|;um- om- uo |_
We manage Church & Dwight with the perennial goal
o= 7; b ;ubm] v|uom] $"! |o o o u v|o1h_o 7;uv $o|-
"_-u;_o 7;u !;| um u;ru;v;m|v |_; 1ol0bm- om o= v|o1h
rub1; -rru;1b- om -m7 7b b7;m7v ;u |_; r-v| 7;1-7; ;
7; b ;u;7 -m -mm - $"! o= -rruo bl-|; m
o u $"! -v _b1_ -v - 7bu;1| u;v | o= ] o0-
bm7 v|u b7; _;-7 bm7v u lb ]- om l;-v u;v
o ;u u-m7 u;vb b;m1; rou o bo u;rovb ombm] -m7
v|u-|;]b1 -1t bvb omv ;7 |o |_; |_ v|uom];v| $"!
r;u=oul-m1; bm o u v;1|ou
Key Drivers of TSR
u om] _; 7 1ollb|l;m| |o ; ;1 om 1omvbv|;m|
7; b ;uv v|uom] $"! ); l-h; - r -m -m7 ; 7o _-|
; v- ; -u; ]obm] |o 7o $_; =o o bm] -u; |_; h;
7ub ;uv o= o u v 11;vv
_ u1_ b]_| v 7b ;uv; 1omv l;u ruo7 1| rou o bo
1omvbv m] o= 0o|_ ru;lb l -m7 - ; 0u-m7v
;m-0 ;v v |o v 11;;7 bm -ubo v ;1omolb1 ;m buoml;m|v
); 0; b; ; mo o|_;u 1omv l;u r-1h-];7 ]oo7v 1olr-m
_-v v 1_ - ; 0- -m1;7 rou o bo o= 0o|_ ru;lb l -m7
- ; 0u-m7v ; om] |;ul rou o bo u;rovb ombm] 7om; bm
b 1om m ; |o ]b ; o u olr-m - ;-7bm] l;-v u;
o= u;vb b;m1; -]-bmv| -m m1;u|-bm ;1omolb1 = | u;
2. Focus on Power Brands
u ;u]u;;m lo7; 1- v =ou o u omv l;u m|;um- om-
0 vbm;vv |o ]uo u; ;m ;v -mm - $o7- o=
o u v- ;v -u; o |vb7; |_; & " ); _- ; = or;u- om-
v 0vb7b-ub;v v|u- b- -m-7- u-m1; ;ul-m -r-m
; b1o _bm- -m7 |_; &mb|;7 bm]7ol -m7 ; rou| o u
ruo7 1|v |o lou; |_-m 1o m|ub;v |_uo ]_ o u o0-
-uh;|v uo r m o u bm|;um- om-
0 vbm;vv rov|;7 ou]-mb1 ]uo |_ o= -m7 _-v 7; b ;u;7
-m ;-u ! _b1_ bv ub]_| -| o u ;u]u;;m
lo7; m o u bm|;um- om- v 0vb7b-ub;v |o];|_;u
]u; - lov| -m7 -11o m|;7 =ou o= o u bm|;um- om-
v- ;v ]u; - lov| -m7 1om m ;v |o 0; |_;
-u];v| bm|;um- om- 0 vbm;vv u;ru;v;m m] o= o u
bm|;um- om- u; ;m ;v m ; b 1om m ; |o bm ;v|
bm o u 0-1h oL1; bm=u-v|u 1| u; ;vr;1b- u;] -|ou
m; ruo7 1| 7; ; orl;m| -m7 bm=oul- om v v|;lv |o
v rrou| |_; om] |;ul ]uo |_ ; ; r;1| =uol o u
v 0vb7b-ub;v -m7
Annual Report 2025 | 3](/chd/chd-shareholder-letter-20260319-page-5.png)
C HU RC H & DWIG H T CO., IN C.
2025
ANN UA L REPO RT
On January 28, 2026, the Company declared a 4.2% increase in its
quarterly dividend from $0.295 per share to $0.3075 per share.
2025 Key Financial Results
Worldwide net sales increased 1.6%.
Organic sales increased 0.7%.
7f v|;7 ]uovv ruoC| l-u]bm -v Y-|
7f v|;7 or;u- m] ruoC| l-u]bm -v Y-| -|
;| 1-v_ =uol or;u- omv -v 0b bom
7f v|;7 ;-umbm]v r;u v_-u;7 bm1u;-v;7
in millions, except per share data
2025
2024
reported
adjusted*
;| "- ;v
uovv uoC| -u]bm
m1ol; =uol r;u- omv
r;u- m] uoC| -u]bm
reported
adjusted*
;| m1ol;
;| m1ol; ;u "_-u; b |;7
b b7;m7v ;u "_-u;
+;-u ;m7 "|o1h ub1;
Net Sales
Adjusted Earnings Per Share (1)
(in millions of dollars)
(in dollars)
$5,868
$6,107
$6,203
2023
2024
2025
$3.17(2)
2023
$3.44(3)
$3.53(4)
2024
2025
ou -77b om- bm=oul- om v;; -m-];l;m| v bv1 vvbom -m7 m- vbv o= bm-m1b- om7b om -m7 !;v |v o= r;u- omv bm1 7;7 bm |_; olr-m v mm - !;rou| om oul =ou |_; ;-u ;m7;7
;1;l0;u
$_bv -mm - u;rou| bm1 7;v mom Cm-m1b- l;-v u;v bm1 7bm] -7f v|;7 bm1ol; =uol or;u- omv -7f v|;7 or;u- m] ruoC| l-u]bm -7f v|;7 m;| bm1ol; -7f v|;7 " ou]-mb1 v- ;v -m7 =u;;
1-v_ Yo _b1_ 7b@;u =uol u;rou|;7 u;v |v vbm] ;m;u- 11;r|;7 11o m m] ubm1br ;v
$_bv -mm - u;rou| ru;v;m|v -7f v|;7 " m-l; ;-umbm]v r;u v_-u; 1- 1 -|;7 bm -11ou7-m1; b|_ -v -7f v|;7 |o ; 1 7; vb]mbC1-m| om; l; b|;lv |_-| -u; mo| bm7b1- ; o= |_;
olr-m v r;ubo7 |o r;ubo7 r;u=oul-m1; ); 0; b; ; |_-| |_bv l;|ub1 ruo b7;v bm ;v|ouv - v;= r;uvr;1 ; o= m7;u bm] 0 vbm;vv |u;m7v -m7 u;v |v -m7 ruo b7;v v;= v rr ;l;m|-
bm=oul- om u;]-u7bm] o u ;-u o ;u ;-u ;-umbm]v r;u v_-u; ]uo |_
7f v|;7 " ; 1 7;v blr-1| u; -|;7 |o u;v|ub1|;7 v|o1h |_-| -v bvv ;7 =ou |_; ;uo -1t bvb om _b1_ b 0; |u;-|;7 -v 1olr;mv- om ; r;mv;
7f v|;7 " ; 1 7;v - ( " blr-bul;m| 1_-u]; - 1_-u]; u; -|;7 |o u;v|ub1|;7 v|o1h bvv ;7 bm |_; ! -1t bvb om -m7 - 0;m;C| =uol |-ub@ u;= m7v
7f v|;7 " ; 1 7;v - 0 vbm;vv ; b| u; -|;7 blr-bul;m| - 1_-u]; u; -|;7 |o u;v|ub1|;7 v|o1h bvv ;7 bm |_; ! -1t bvb om - =ou ! ruof;1| 1ov|v - 1_-u];
=uol |_; )-|;urbh u;v|u 1| ubm] - 1_-u]; u; -|;7 |o u;v|ub1|;7 v|o1h bvv ;7 bm |_; $ & -1t bvb om =ou |_; $ & ;-umo | -m7 =ou |_; ( " 7b ;v | u;
ourou-|; m=oul- om
_ u1_ b]_| o m1 =o m7;7 bm bv |_;
$ ! ! $ ! -m7 $ & 0o |
;-7bm] & " ruo7 1;u o= vo7b l 0b1-u0om-|; ror -u
o= |_; olr-m v 7ol;v 1 1omv l;u ruo7 1|v
hmo m -v 0-hbm] vo7- - m-| u- ruo7 1| |_-| 1 ;-mv
-u; vo 7 m7;u |_; ! ! 0u-m7 m-l; -m7
7;o7oub ;v ;- ;mv -m7 0 @;uv $_; olr-m v !
7;ub - ; |u-7;l-uhv v 1_ -v ! ! bt b7
! 0u-m7 bv om; o= |_; m- om v lov| |u v|;7
-m7 ro 7;u - m7u 7;|;u];m| ! ! 1-|
|u-7;l-uhv =ou - 0uo-7 u-m]; o= 1omv l;u -m7 vr;1b- |
b ;u ! ! 7;m|- 1-u; -m7 ! !
ruo7 1|v 7; ; or;7 =uol |_; 0-v; o= vo7b l 0b1-u0om-|;
0-hbm] vo7- $_; u;l-bmbm] ro ;u 0u-m7v _- ; 0;;m
-m7 u; -|;7 |;1_mo o]b;v
-77;7 |o |_; olr-m v rou o bo vbm1; |_uo ]_ -
v;ub;v o= -1t bvb omv
_ u1_ b]_| v 1omv l;u ruo7 1|v 0 vbm;vv bv ou]-mb ;7
bm|o | o v;]l;m|v omv l;u ol;v 1 _b1_ ;m1olr-vv;v
$_; 1ol0bm- om o= |_; 1ou; ! ! 0u-m7v
0o|_ _o v;_o 7 -m7 r;uvom- 1-u; ruo7 1|v -m7 omv l;u
-m7 |_; o|_;u ro ;u 0u-m7v l-h; _ u1_ b]_| om;
m|;um- om- _b1_ rubl-ub 1omvbv|v o= r;uvom- 1-u;
o= |_; ;-7bm] 1omv l;u r-1h-];7 ]oo7v 1olr-mb;v bm |_;
ruo7 1|v $_; olr-m _-v v; ;m h; 0u-m7v u;ru;v;m m]
&mb|;7 "|-|;v _ u1_ b]_| v |_bu7 0 vbm;vv v;]l;m|
-rruo bl-|; o= b|v u; ;m ;v $_;v; ro ;u 0u-m7v
bv "r;1b- | uo7 1|v $_bv 0 vbm;vv bv - ;-7;u bm vr;1b- |
bm1 7; ! ! * $ "$ ) $ !
bmou]-mb1 1_;lb1- v -mbl- m |ub om -m7 vr;1b- | 1 ;-m;uv
Growth Driven by 7 Power Brands
ARM & HAMMER
ou; -bv ;v bm |_; ]uo1;u v|ou; |_-m -m o|_;u 0u-m7
ruo7 1|v -u; bm o= & " _o v;_o 7v
OXICLEAN
#1 Stain Fighter
BATISTE
#1 Dry Shampoo
WATERPIK
#1 Power
Water Flosser
THERABREATH
o |_ -v_
HERO
1m; u-m7
TOUCHLAND
-m7 "-mb ;u & "
"o u1; bu1-m- $o|- &" & +$ | o ;-u 1 l - ; 7-|- |_uo ]_
Annual Report 2025 | 1
RICHARD A. DIERKER
LEE MCCHESNEY
PATRICK D. DE MAYNADIER, ESQ.
President and
_b;= ;1 ; L1;u
;1 ; (b1; u;vb7;m|
_b;= bm-m1b- L1;u
;1 ; (b1; u;vb7;m|
;m;u- o mv; -m7 ";1u;|-u
Dear Fellow Stockholder,
u 1olr-m 7; b ;u;7 -mo|_;u ;-u o= u; ;m ; -m7
earnings growth despite a challenging macroeconomic
-m7 1omv l;u ;m buoml;m| -@;1 m] o u ;m u; bm7 v|u
0- -m1;7 -m7 u;rovb om;7 rou o bo o= - ; -m7
ru;lb l ruo7 1|v -m7 o u u; ;m| ;vv =o1 v om ; ;1 om
7; b ;u;7 v|uom] u;v |v =ou o u v|o1h_o 7;uv 1 v|ol;uv
-m7 o u ;lr o ;;v
!;rou|;7 m;| v- ;v ;u; lb bom -
bm1u;-v;
u]-mb1 v- ;v bm1u;-v;7 $_; omv l;u
ol;v 1 0 vbm;vv 7;1 bm;7 omv l;u
m|;um- om- 0 vbm;vv ]u; -m7 o u "r;1b- |
uo7 1|v 0 vbm;vv ]u;
7f v|;7 ]uovv l-u]bm _; 7 v|;-7 bm -|
-v o u ruo7 1 b| ruo]u-lv bm1u;-v;7 o l;v
rovb ; lb ;u; o@v;| 0 bmY- om -m7 |-ub@v m;|
o= lb ]- om ;@ou|v
7f v|;7
" -v r;u v_-u; - bm1u;-v;
); ];m;u-|;7 0b bom o= 1-v_ =uol or;u- m]
-1 b ;v -m7 bm ;v|;7 lb bom bm 1-rb|-
; r;m7b| u;v u;v m] bm =u;; 1-v_ Yo o= 0b bom
m ; u;| um;7 - lov| 0b bom o= 1-v_ |o
v|o1h_o 7;uv |_uo ]_ 7b b7;m7v lb bom -m7
0 0-1hv lb bom
); -1t bu;7 |_; $ &
0u-m7 o= _-m7
v-mb ;uv $_bv -1t bvb om l;| o u om] v|-m7bm]
-1t bvb om 1ub|;ub- ou 0u-m7 bm - 1-|;]ou
-vv;| b]_| - ]uo bm] 0u-m7 -m7 ]uovv
l-u]bm -11u; ; |o |_; olr-m
2 | Church & Dwight Co., Inc.
); u;rovb om;7 o u rou o bo 0 ; b m] o u ;vv
ruo7 1 ; ( " ) "" " !&" -m7
) $ ! v_o ;u_;-7 0 vbm;vv;v $_;v; -1 omv
;m-0 ; v |o 7; o|; ]u;-|;u =o1 v |o o u rou o bo v
=-v|;u ]uo bm] - ; -m7 ru;lb l ruo7 1| bm;v
Evergreen Model
u om] |;ul v|u-|;] =ou 7; b ;ubm] v r;ubou u;| umv bv
0 b | om o u ;u]u;;m 0 vbm;vv lo7; _b1_ |-u];|v
-mm - ou]-mb1 u; ;m ; ]uo |_ -m7 -mm - ;-umbm]v
r;u v_-u; " ]uo |_ u ou]-mb1 u; ;m ; ]uo |_ ]o-
bv 7ub ;m 0 |-u];|v o= & " m|;um- om- -m7
"r;1b- | uo7 1|v " ]uo |_ bv = ; ;7 0 ou]-mb1
u; ;m ; ]uo |_ |o 0-vbv robm|v o= ]uovv l-u]bm
; r-mvbom l-uh; m] bm ;v|l;m| -| o= v- ;v -m7 "
; ;u-]; o= |o 0-vbv robm|v _b ; 0- -m1bm] ;L1b;m1
b|_ v|u-|;]b1 bm ;v|l;m|v |o v v|-bm om] |;ul ]uo |_
u ;u]u;;m lo7; u;v |v -u; |_; o |r | o= l-m =o1 v
-u;-v 0 b 7bm] 0u-m7v 1omv l;uv o ; o u v 11;vv=
bmmo - om rbr; bm; - u;vb b;m| -m7 -]b ; v rr 1_-bm b|_
- ; ;v|-0 bv_;7 ruo7 1 b| -m7 1ov| v- bm]v ruo]u-lv
m ; ; r;1| ou]-mb1 u; ;m ; ]uo |_ -m7
-7f v|;7 " ]uo |_ 7ub ;m 0 ; r;1|;7 ]uo |_
bm - 7b bvbomv 1om m ;7 $ & lol;m| l -m7
]uovv l-u]bm ; r-mvbom $_bv o | ooh o@v;|v o u v|u-|;]b1
0 vbm;vv ; b|v _b1_ u;ru;v;m|v lb bom o= o ;u
u; ;m ; -m7 u; -|;7 v|u-m7;7 1ov|v ); ; r;1| |o ];m;u-|;
lou; |_-m 0b bom bm 1-v_ =uol or;u- omv
m ; ; ;1 |;7 v|u-|;]b1- blrou|-m| -1 omv
|_-| = u|_;u v|u;m]|_;m o u v_ou| -m7 om] |;ul ]uo |_
ruoC ; -m7 ;m-0 ;v v |o 7; o|; ]u;-|;u =o1 v om o u
=-v|;u ]uo bm] _b]_;u l-u]bm 0u-m7v $_ov; -1 omv
bm1 7;7 |_; v- ; o= o u " !&" -m7 b|-lbm 0u-m7v
-v ; -v 7bv1om m bm] o u ) "" -m7 ) $ !
v_o ;u_;-7 ruo7 1| bm;v $_;v; -1 omv - vo l-|;ub-
u;7 1;7 o u rub -|; -0; ; rov u; -m7 =u;;7 u;vo u1;v |o
u;bm ;v| 0;_bm7 o u bm7 v|u ;-7bm] o ;u u-m7v )_b ;
|_;v; ; b|v 1u;-|; lb bom o= u; ;m ; ru;vv u; bm
|_; rovb om v |o 7ub ; - lou; u;vb b;m| om] |;ul
1omv l;u ;7 1ou; ]uo |_ v|u-|;] _b ; v rrou m] o u
o l; 7ub ;m ]uo |_ o | ooh $o r | |_bv bm r;uvr;1 ;
o u 1omv lr om ]uo |_ o= o 7 _- ; 1 bl0;7
|o -rruo bl-|; bm |_; -0v;m1; o= |_;v; 7b ;v|;7
-m7 7bv1om m ;7 ruo7 1| bm;v
b ;uvbC;7 uo7 1| ou o bo
$_; = | u; 0ubm]v - ruboub ;7 =o1 v;7 v;| o= ]uo |_
bmb - ;v 7;vb]m;7 |o _; r v o |r;u=oul o u 1-|;]oub;v
-m7 7; b ;u om |_; ;u]u;;m lo7; ; ;m -]-bmv| -m
bm7 v|u b7; v o ;u ]uo |_ l-1uo;m buoml;m| $_;v;
v|u-|;]b;v bm1 7; ; r-m7bm] |_; ! ! 0u-m7
=uol -rruo bl-|; 0b bom |o 0b bom |_uo ]_ ]uo |_
bm |_; 1ou; =u-m1_bv;v - 7bv1br bm;7 ]oo7 0; ;u 0;v|
-u1_b|;1| u; v; ;1| m; 1-|;]ou ;m|ub;v -m7 ; ;u-]bm]
bm _o v; b1;mvbm] -v -m bm1 0-|ou =ou = | u; ; r-mvbom
); r -m |o v1- ; ou- 1-u; |o -u7 0b bom 0 0 b 7bm]
|_; $ ! ! $ 0u-m7 7ub ;m bm r-u| 0 - l;-mbm]
= lo ; bm|o |oo|_r-v|; ); -u; ; ;1 m] om -]]u;vvb ;
bm|;um- om- ]uo |_ v|u-|;]b;v bm1 7bm] |-u];|;7 -1t bvb
omv |_-| ; 0; b; ; ; _; r ]uo o u o ;uv;-v 0 vbm;vv
=uol -rruo bl-|; 0b bom |o 0b bom o ;u l;
)_b ; ; v; o ;u 0u-m7v v; ;m o= |_;v; 0u-m7v
];m;u-|; lou; |_-m o= o u u; ;m ;v -m7 ruoC|v
_b ; rubl-ub 1olr; m] bm -u];u 1-|;]oub;v b|_
|_; ro|;m - =ou ] o0- ; r-mvbom $_; v; ;m 0u-m7v
-u; ! ! * $ "$
) $ ! $ ! ! $ ! -m7
$ & u v; ;m o ;u u-m7v -u; u-m7v
omv l;uv o ; -m7 1omv;t ;m| -u; l-uh;| ;-7;uv
bm lov| 1-|;]oub;v ); 1omm;1| b|_ 1omv l;uv |_uo ]_
bmmo - ; m; ruo7 1|v 1u;- ; l-uh; m] 1-lr-b]mv
-m7 v v|-bm;7 l-uh; m] vr;m7bm] u;v m] bm _b]_ l-uh;|
v_-u;v =ou o u 0u-m7v o u o= |_; v; ;m o ;u u-m7v
]-bm;7 l-uh;| v_-u; bm 7;vrb|; |_; l-1uo;1omolb1
;m buoml;m| $_; ! -m7 $ ! ! $ 0u-m7v
v- 7o 0 ; 7b]b| ]uo |_ ] o0-
Total Shareholder Return (TSR)
b]_ m|;um- om- uo |_
We manage Church & Dwight with the perennial goal
o= 7; b ;ubm] v|uom] $"! |o o o u v|o1h_o 7;uv $o|-
"_-u;_o 7;u !;| um u;ru;v;m|v |_; 1ol0bm- om o= v|o1h
rub1; -rru;1b- om -m7 7b b7;m7v ;u |_; r-v| 7;1-7; ;
7; b ;u;7 -m -mm - $"! o= -rruo bl-|; m
o u $"! -v _b1_ -v - 7bu;1| u;v | o= ] o0-
bm7 v|u b7; _;-7 bm7v u lb ]- om l;-v u;v
o ;u u-m7 u;vb b;m1; rou o bo u;rovb ombm] -m7
v|u-|;]b1 -1t bvb omv ;7 |o |_; |_ v|uom];v| $"!
r;u=oul-m1; bm o u v;1|ou
Key Drivers of TSR
u om] _; 7 1ollb|l;m| |o ; ;1 om 1omvbv|;m|
7; b ;uv v|uom] $"! ); l-h; - r -m -m7 ; 7o _-|
; v- ; -u; ]obm] |o 7o $_; =o o bm] -u; |_; h;
7ub ;uv o= o u v 11;vv
_ u1_ b]_| v 7b ;uv; 1omv l;u ruo7 1| rou o bo
1omvbv m] o= 0o|_ ru;lb l -m7 - ; 0u-m7v
;m-0 ;v v |o v 11;;7 bm -ubo v ;1omolb1 ;m buoml;m|v
); 0; b; ; mo o|_;u 1omv l;u r-1h-];7 ]oo7v 1olr-m
_-v v 1_ - ; 0- -m1;7 rou o bo o= 0o|_ ru;lb l -m7
- ; 0u-m7v ; om] |;ul rou o bo u;rovb ombm] 7om; bm
b 1om m ; |o ]b ; o u olr-m - ;-7bm] l;-v u;
o= u;vb b;m1; -]-bmv| -m m1;u|-bm ;1omolb1 = | u;
2. Focus on Power Brands
u ;u]u;;m lo7; 1- v =ou o u omv l;u m|;um- om-
0 vbm;vv |o ]uo u; ;m ;v -mm - $o7- o=
o u v- ;v -u; o |vb7; |_; & " ); _- ; = or;u- om-
v 0vb7b-ub;v v|u- b- -m-7- u-m1; ;ul-m -r-m
; b1o _bm- -m7 |_; &mb|;7 bm]7ol -m7 ; rou| o u
ruo7 1|v |o lou; |_-m 1o m|ub;v |_uo ]_ o u o0-
-uh;|v uo r m o u bm|;um- om-
0 vbm;vv rov|;7 ou]-mb1 ]uo |_ o= -m7 _-v 7; b ;u;7
-m ;-u ! _b1_ bv ub]_| -| o u ;u]u;;m
lo7; m o u bm|;um- om- v 0vb7b-ub;v |o];|_;u
]u; - lov| -m7 -11o m|;7 =ou o= o u bm|;um- om-
v- ;v ]u; - lov| -m7 1om m ;v |o 0; |_;
-u];v| bm|;um- om- 0 vbm;vv u;ru;v;m m] o= o u
bm|;um- om- u; ;m ;v m ; b 1om m ; |o bm ;v|
bm o u 0-1h oL1; bm=u-v|u 1| u; ;vr;1b- u;] -|ou
m; ruo7 1| 7; ; orl;m| -m7 bm=oul- om v v|;lv |o
v rrou| |_; om] |;ul ]uo |_ ; ; r;1| =uol o u
v 0vb7b-ub;v -m7
Annual Report 2025 | 3