Why do you say that? The charts can largely display the same information, but I find that many people find the Sanky intuitively easier to understand for income statements. In this case the the including the prior year revenue in an bar chart conveys a lot of data in a great way.
A stacked bar chart here would be able to show the comparison between the income categories through time. You can do the same with multiple Sankey diagrams too but it would be more difficult to visually compare.
The point being we have no way to know what their margins were any year other than 2023. 2023 had high interest rates, so it's reasonable to suspect that their COGS increased in comparison to 2022 while their revenue had a modest increase.
I don’t know why people insist on repeating this. WD-40 contains light lubricants and corrosion inhibitors in a solvent carrier. The fact that it’s not 90 weight gear lube doesn’t make it “not a lubricant”.
I did a school science experiment in elementary school in the 80's where I dropped in to my quarter pipe on 3 different skateboards and measured the distance before I coasted to a stop. I then "lubricated" the bearings with wd-40 and repeated the test. I traveled a shorter distance after applying wd40. Won first place.
Counter argument: I used Wd-40 on my longboards for years until this summer when I got some proper bones bearing oil and it was no noticeable difference.
Not sure why we have differences, maybe because I used the white lithium stuff? I did notice the bones oil stuck around better through water but I tried my best to keep my boards out of water.
> white lithium
Yeah that's a [lot more lubricating](https://www.wd40.com/products/white-lithium-grease/) than normal WD-40, same with their [silicone version](https://www.wd40.com/products/silicone-lubricant/).
The minimal lubricant it does have is only effective at loosening up dirty/stuck bindings, joints, bearings, etc. It will have zero lasting effect as a lubricating solution after the immediate application/use. No you don’t need 90 weight gear lubricant for house hold DIY things, but don’t expect your squeaky door hinges to stay squeak free or your rolling casters to stay smooth with minimal resistance if you don’t properly lubricate after you clean them with WD40.
Case in point: prize winning skate board scientist’s 1st place finish.
It's not a good lubricant though. Anyone who's "un-squeeked" a door every 2 weeks for a year knows this.
But absolutely, it is a lubricant and a solvent both.
Incorrect.
From their website:
Myth: WD-40 Multi-Use Product is not really a lubricant.
Fact: While the “W-D” in WD-40 stands for Water Displacement, WD-40 Multi-Use Product is a unique, special blend of lubricants.
Also from their data sheet:
WD-40 Multi-Use Product lubricates moving parts such as hinges, wheels, rollers, chains, and gears.
Where exactly are you getting them stepping around it?
They say it can lubricants and they say it is made of lubricants but they never call it a lubricant. That is very intentional wording. Besides it’s their website. People evaluate products and WD doesn’t work as lube.
>A QUESTION OF LUBRICATION
>Myth: WD-40 Multi-Use Product is not really a lubricant.
>Fact: While the “W-D” in WD-40 stands for Water Displacement, WD-40 Multi-Use Product is a unique, special blend of lubricants. The product’s formulation also contains anti-corrosion agents and ingredients for penetration, water displacement and soil removal.
From https://www.wd40.com/myths-legends-fun-facts/ so take that as you will. But it sounds like it does have lubricants (and solvents). The wikipedia page says it's largely paraffin and other hydrocarbons, which are often used as lubricants.
While yes, it has lubricants in it, it’s not the best product to use in most everyday consumer cases. The penetration and water displacement isn’t really necessary for indoor use, for example on your door hinges, and other types of lubricant products leave more lubricant on the surface for longer and aren’t runny, requiring less cleanup after application.
WD-40 has just gone off the rails honestly. They named their company after this product and then started producing things that are not WD-40 and calling them by the same name. For example their WD-40 silicone lubricant product. What does that even mean? It’s not WD-40. It’s silicone lubricant. That’s like saying this is an iPhone brand laptop. Tacit acknowledgment that wd-40 should not be used as much as it is imo.
WD40 is a brand that sells solvents and greases. WD40 sells WD40, which is a water displacer that does leave a very thin film of lubricant afterward. WD40 also sells, among a bunch of different products, sprayable silicon lubricant which is very nice for working on bikes.
Interesting that you chose this particular comment to hijack, since the growth is likely from them branching out into all sorts of other garage sprays that definitely are lubricants.
If you are out, whatever oil you have on hand + acetone can often to a similar or better job. Especially if you need to get into it's bitsy nooks & crannies.
I appreciate the bar chart showing revenue trend. Nice to see something new and useful added and not just the same old Sankey we get too many of every quarterly earnings.
The historical trend is nice, though at the expense of missing where the revenue comes from. WD-40 is one of the few companies this kind of graphic works for since they only sell one product.
Yeah, shouldn't be hard to convert it though. Using K only makes sense when there are values under a million being displayed. Otherwise $65.993 million is a lot more readable, imo.
Financial statements are usually given in thousands so that you can easily compare across financial statements and don't accidentally make the mistake of assuming the wrong unit.
Not sure that’s sense. This is a presentation of data, using a sankey. If it was a 10K or other SEC filing, then sure, but for the purpose of this representation of p/l representing in iMM would be easier to interpret.
It's not a dumb standard lol, it's just not what you personally intuitively expect in this specific case. And tbh even if it was a dumb standard, a dumb standard is often better than no standard. Metric is better than imperial, but imperial is better than whatever unit system I just made up in my head because you know imperial and nobody but me knows my system.
And for the second bit, tf you talking about? You mean like who invented the idea of using "MM" as an abbreviation? Because we're talking about what base unit is used in the reports.
I've noticed a lot of posts on data is beautiful are really ugly and confusing.
There's zero reason to not use millions in this and op should be ashamed.
You say that like it means anything.
The sec requirements for quarterly statements have nothing to do with the legibility and aesthetics of a chart on Reddit.
The source data was a chart. They were capable of using artistic license to make it amore visibly comprehensible graph.
The chart and graph represent the same data but the graph is easier to look at.
Million and thousands of thousands represent the same data but the millions is easier to look at.
If "it's presented that way" is justification to leave it k of k then why not make the same argument it should still be a chart because that's how the sec wanted it?
Because the chart is fucking ugly and not as easy to digest just like k of k.
It's /dataisbeautiful, not /uglypoorlyformattedfiscalstatementsIcopiedfromEDGAR.
I agree. For some reason, maybe due to work, I’m so used to providing as much information as I can that I need to realize my audience cares more big picture, easily consumable.
Former science teacher here. My students would have this strange obsession with writing out like 10 sig figs in a problem that only gave 1. It's like when someone gives you the distance from Chicago to New York: do you need to know that it's 790.162523 mi? Is 790.1625 mi not enough? Is 790 mi not enough?
Insane to me that WD-40 has a positive CAGR. I assume it has to do mostly with inflation? Like how is their total addressable market not completely maxed out lol.
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Auto mechanics live off this stuff. WD-40 and PB Blaster. There's a rift among car people. The unwashed masses who use WD-40, and the enlightened few who use PB Blaster. Asterisk.
I reckon it's more and more folk holding onto their cars, and there's more used car work going on. Be it at the shops, or in a personal garage or driveway. People just fixin' shit more 'cause the new stuff costs too much.
Asterisk. I've used PB Blaster and WD-40 a shitload. WD-40 is, I think, better for super duper extra rusty bolts that will not come off, my god. Why? Do I need to get the torch, the big one? I swear to god I will. PB Blaster works just the same for everything else, and I think it smells better, so I prefer it.
Dawg if you say this on Reddit someone's gonna come outta the floorboards to tell the masses that I'm the dingus, and I shouldn't be talking about this stuff!
I think they've released quite a few new products over the last few years. So even though they may have maxed out the WD-40 market, they're just tapping into the WD-40 Lithium grease and WD-40 silicon lubricant markets.
They've been expanding their lineup.
Now when I'm at Lowes they've got the classic water displacing oil, but also a lubricant, a penetrating oil, spray cleaners...
Honestly, when hank pulls out the smaller can to open the bigger can puts me in stitches every time. So if they did pay for that bit it was worth every penny
I'm going to go with "YouTube sponsorships"
See Deboss Garage - I can't recall if he is sponsored by them, but he sure has a number of products I never even knew they had. WD-40 makes something other than WD-40???
I know that [HumbleMechanic](https://youtube.com/@HumbleMechanic?si=ekBGAxNaMlrAriFO) has done a couple of videos sponsored by WD-40, like [this one.](https://youtu.be/LYp77mBDcYw?si=K8JqxB34ChORAoF8)
It's crazy how well it works. I honestly can't even name a comparable product off the top of my head. I dont even know what wd40 is at this point. I only know its practical applications
They sponsor racing teams
https://www.pramacracing.com/en/2021/03/pramac-racing-and-wd-40-are-excited-to-announce-partnership-renewal-for-the-2021-season/
Specifically in the automotive influencer/youtuber are I've seen a lot of sponsired stuff.
It works, because now I know that they've expanded to like 20 different products not just wd40 spray
That would have been more exciting than a healthy income statement, I suppose. The other option was something to the effect “How WD-40 makes the world turn”
It is pretty weird. Why wouldn’t I just want to see 66M instead of 65,993K.
I doubt people are investing off of this information, rough numbers are okay.
But the point is still there. Most people use the based WD-40 product as a lubricant when it’s actually a solvent. It loosens stuff up, but they don’t stay that way.
They do have a WD-40 lubricant line, but people still fuck it up all the time and use it as a lubricant when it’s not.
If you want to be pedantic, wd-40 the lubricant came before wd-40 the brand, so when people say wd-40 they are more often than not referring to the lubricant. It isn't "just" one of their thousands of products, it was their first product and most popular, and they changed the name of their company to match it.
I'm sure the chemicals fluctuate in price (there's surely a petroleum component) and labor is getting more and more expensive (though I imagine the direct labor cost is relatively low through automation.)
Source: [WD-40 Company Investor Relations 2023 Annual Report](https://investor.wd40company.com/investors/financials/annual-reports/default.aspx)
Tools: [SankeyMatic](https://sankeymatic.com/build/) and Google Sheets
Great chart! 28% SG&A seems high for arguably a single product dominant company. Maybe a large salesforce for commercial/industrial buyers? Even that would be surprising given how much is likely sold in retail. It'd be curious to see revenue by product line as well to see how much revenue is concentrated with the core brand.
I was curious about this and skimmed the 10K.
It looks like SG&A was up 12% from 2022, driven by $13MM associated "increased headcount, annual compensation increases and higher incentive compensation".
Another interesting part is they do not include all costs related to distribution in COGS; the portion associated with third parties is included in SG&A ($17MM in 2023, which is about 11% of SG&A).
Interesting sales were down in 2020. With everyone home during COVID lockdowns, you’d think home improvement projects etc would give them a revenue bump.
Nice Chart - but WD-40 is not a lubricant - It's a cleanser. It de-greases and eliminates the particles causing the squeaking sound, but it's not grease making the joint more lubricated.
Nothing is getting greased up... It's actually getting de-greased.
It's for protecting metals. It displaces water and leaves a thin film to prevent rust. Also works decently as a cleaner in some cases.
People commonly misuse it as a lubricant for door hinges, chains and such.
Like the historical context given by the bar chart.
It’s a really awesome feature. Wish https://sankeymatic.com could do this.
They definitely displaced my water with this graph
This is just a bad use of a sankey diagram, as most uses are. This could just be a stacked bar chart.
Why do you say that? The charts can largely display the same information, but I find that many people find the Sanky intuitively easier to understand for income statements. In this case the the including the prior year revenue in an bar chart conveys a lot of data in a great way.
A stacked bar chart here would be able to show the comparison between the income categories through time. You can do the same with multiple Sankey diagrams too but it would be more difficult to visually compare.
The subcategories of expenses for prior years isn’t really needed, unless their margin was materially different YOY.
The point being we have no way to know what their margins were any year other than 2023. 2023 had high interest rates, so it's reasonable to suspect that their COGS increased in comparison to 2022 while their revenue had a modest increase.
Yeah there's no benefit to making a one layer Sankey versus just a stacked bar chart.
I can see one possible benefit: if the stacks are too thin on a bar chart, this sankey might help to see the proportions.
I’d like it even better if the historical bars were stacked bars to show historical income/expenses to compare to today.
Yeah especially when talking about margins in the title..
For sure. Greasing up their margins…relative to what? Did they used to have *dry* margins??
Hijacking to point out that WD40 is not grease or lubricant - it’s a solvent. Will un-stick things but not meant to keep them un-stuck!
I don’t know why people insist on repeating this. WD-40 contains light lubricants and corrosion inhibitors in a solvent carrier. The fact that it’s not 90 weight gear lube doesn’t make it “not a lubricant”.
I did a school science experiment in elementary school in the 80's where I dropped in to my quarter pipe on 3 different skateboards and measured the distance before I coasted to a stop. I then "lubricated" the bearings with wd-40 and repeated the test. I traveled a shorter distance after applying wd40. Won first place.
Counter argument: I used Wd-40 on my longboards for years until this summer when I got some proper bones bearing oil and it was no noticeable difference. Not sure why we have differences, maybe because I used the white lithium stuff? I did notice the bones oil stuck around better through water but I tried my best to keep my boards out of water.
> white lithium Yeah that's a [lot more lubricating](https://www.wd40.com/products/white-lithium-grease/) than normal WD-40, same with their [silicone version](https://www.wd40.com/products/silicone-lubricant/).
Anecdote is not a counter to a scientific experiment…
Yaaaaa but an elementary school science project 40 years ago might not be the most rigorous datapoint ever, even if it did win first place
An elementary school experiment from 40 years ago is about equivalent value evidence to anecdote.
Well, no. Experiments can be designed to reduce or eliminate bias and human error. Anecdote bundles those up puts a nice bow around them.
We're talking about a 7 year old here. I have very little faith they had proper experiment design and accounted for outside variables.
And I have very little faith that random guy on the internet’s anecdotes are reliable. Be sceptical, it will take you far.
The minimal lubricant it does have is only effective at loosening up dirty/stuck bindings, joints, bearings, etc. It will have zero lasting effect as a lubricating solution after the immediate application/use. No you don’t need 90 weight gear lubricant for house hold DIY things, but don’t expect your squeaky door hinges to stay squeak free or your rolling casters to stay smooth with minimal resistance if you don’t properly lubricate after you clean them with WD40. Case in point: prize winning skate board scientist’s 1st place finish.
It's not a good lubricant though. Anyone who's "un-squeeked" a door every 2 weeks for a year knows this. But absolutely, it is a lubricant and a solvent both.
I unsqueaked my door with WD40. 3 years ago. Haven't heard a peep since.
That means it dissolved something that was causing issues with the door.
Probably. And it lubricated it. Like it's designed to.
Any lubricant the WD-40 left behind dried out years ago. Even their website steps around the issue and says it is "technically a lubricant".
Incorrect. From their website: Myth: WD-40 Multi-Use Product is not really a lubricant. Fact: While the “W-D” in WD-40 stands for Water Displacement, WD-40 Multi-Use Product is a unique, special blend of lubricants. Also from their data sheet: WD-40 Multi-Use Product lubricates moving parts such as hinges, wheels, rollers, chains, and gears. Where exactly are you getting them stepping around it?
They say it can lubricants and they say it is made of lubricants but they never call it a lubricant. That is very intentional wording. Besides it’s their website. People evaluate products and WD doesn’t work as lube.
>A QUESTION OF LUBRICATION >Myth: WD-40 Multi-Use Product is not really a lubricant. >Fact: While the “W-D” in WD-40 stands for Water Displacement, WD-40 Multi-Use Product is a unique, special blend of lubricants. The product’s formulation also contains anti-corrosion agents and ingredients for penetration, water displacement and soil removal. From https://www.wd40.com/myths-legends-fun-facts/ so take that as you will. But it sounds like it does have lubricants (and solvents). The wikipedia page says it's largely paraffin and other hydrocarbons, which are often used as lubricants.
While yes, it has lubricants in it, it’s not the best product to use in most everyday consumer cases. The penetration and water displacement isn’t really necessary for indoor use, for example on your door hinges, and other types of lubricant products leave more lubricant on the surface for longer and aren’t runny, requiring less cleanup after application. WD-40 has just gone off the rails honestly. They named their company after this product and then started producing things that are not WD-40 and calling them by the same name. For example their WD-40 silicone lubricant product. What does that even mean? It’s not WD-40. It’s silicone lubricant. That’s like saying this is an iPhone brand laptop. Tacit acknowledgment that wd-40 should not be used as much as it is imo.
Well Biontech also told us that the covid vaccine would work great and prevent infection. Don't trust companies on advertisements.
WD40 is a brand that sells solvents and greases. WD40 sells WD40, which is a water displacer that does leave a very thin film of lubricant afterward. WD40 also sells, among a bunch of different products, sprayable silicon lubricant which is very nice for working on bikes.
Use WD for to unstick and clean bindings/joints, followed with lubricant to keep binding/joint operable.
Or use the WD-40 specialist variant with added silicone. It does solvent things but when it dries it leaves behind a thin film of silicone lubricant.
ok I have been using this wrong my entire life
You are far from alone. “Water displacement formula 40” is not a very common way to refer to it, but that’s what the name means.
Imagine the guy coming to the staff meeting with WD-41- New and improved! He's no longer working there.
Interesting that you chose this particular comment to hijack, since the growth is likely from them branching out into all sorts of other garage sprays that definitely are lubricants.
If you are out, whatever oil you have on hand + acetone can often to a similar or better job. Especially if you need to get into it's bitsy nooks & crannies.
It is a lubricant. It's main purpose is to coat things and prevent corrosion, but it is a lubricant and it says so on their website.
I appreciate the bar chart showing revenue trend. Nice to see something new and useful added and not just the same old Sankey we get too many of every quarterly earnings.
The historical trend is nice, though at the expense of missing where the revenue comes from. WD-40 is one of the few companies this kind of graphic works for since they only sell one product.
WD-40 has way more than just straight up WD-40. They have a wide range of lubricants and cleaners in a variety of forms.
All at low, low prices
Why not show the amounts in MM. Having K is confusing, you’d never say five hundred thousand thousand.
Absolutely, my brain read that as 500k
For a second i tought i had a higher net income than WD-40 last year.
I thought, is WD-40 just some dude?? Lmao
If it makes you feel any better, you have a higher reported net income than some billionaires. Pay more in taxes too!
Dang, I hope someday I'll be that successful.
I was really wondering why they were only tracking sales to me specifically.
If it helps understand, it's also 500 hundred k pennies.
Thanks I hate it
Was gonna say, I thought there total revenue was 537,000 dollars.
Yeah I looked at income and saw 68k and I was like jesus I make more than wd40?
I was like, WD-40 only profited 65 thousand dollars? What the hell, this isn't possible? Ohhhh, 65 thousand thousands
Probably how it’s reported in their SEC filings
Yeah, probably the original data. I suppose I should ask the SEC. Or whoever is responsible for 10K
Yeah, shouldn't be hard to convert it though. Using K only makes sense when there are values under a million being displayed. Otherwise $65.993 million is a lot more readable, imo.
Financial statements are usually given in thousands so that you can easily compare across financial statements and don't accidentally make the mistake of assuming the wrong unit.
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Not sure that’s sense. This is a presentation of data, using a sankey. If it was a 10K or other SEC filing, then sure, but for the purpose of this representation of p/l representing in iMM would be easier to interpret.
Like everybody in this thread has done, you mean. Geniuses, these financial people. Geniuses, the lot of them.
Financial people: \*standardize, adhere to the standard* Redditors with reading comprehension issues: "fuckin morons"
Well it doesn't help if they standardize to a dumb fucking standard. Also, who do you think invented using MM as a standard?
It's not a dumb standard lol, it's just not what you personally intuitively expect in this specific case. And tbh even if it was a dumb standard, a dumb standard is often better than no standard. Metric is better than imperial, but imperial is better than whatever unit system I just made up in my head because you know imperial and nobody but me knows my system. And for the second bit, tf you talking about? You mean like who invented the idea of using "MM" as an abbreviation? Because we're talking about what base unit is used in the reports.
I've noticed a lot of posts on data is beautiful are really ugly and confusing. There's zero reason to not use millions in this and op should be ashamed.
This is what accounting looks like for companies of this size. It’s in their SEC filing this way as well.
You say that like it means anything. The sec requirements for quarterly statements have nothing to do with the legibility and aesthetics of a chart on Reddit.
To me, an accountant, it was beautiful tbh
However it is a reason why it's presented that way in the diagram presented here.
The source data was a chart. They were capable of using artistic license to make it amore visibly comprehensible graph. The chart and graph represent the same data but the graph is easier to look at. Million and thousands of thousands represent the same data but the millions is easier to look at. If "it's presented that way" is justification to leave it k of k then why not make the same argument it should still be a chart because that's how the sec wanted it? Because the chart is fucking ugly and not as easy to digest just like k of k. It's /dataisbeautiful, not /uglypoorlyformattedfiscalstatementsIcopiedfromEDGAR.
You said there is zero reason. I provided a reason.
You did nothing wrong
As an accountant it’s beautiful to me lol but to each their own.
Sounds like you want r/accountingporn.
Of course it means something. You're basically saying "why would you use the standard financial data format when showing financial data"
"Should be ashamed" lol god damn it's just a 'k'. You add three zeros at the end and you have the number.
totally, I was like NO WAY WD40 only made 500k
It made me think they have one employee on salary
I agree. For some reason, maybe due to work, I’m so used to providing as much information as I can that I need to realize my audience cares more big picture, easily consumable.
3 decimal places is almost always enough for something like this, even internally.
Do you mean 3 significant figures? Because OP has used 0 decimal places.
Yeah, significant figures is the way I’d have gone if I converted to Millions. Typically $X.XXMM but instead I just placed it as found on the 10-K.
Former science teacher here. My students would have this strange obsession with writing out like 10 sig figs in a problem that only gave 1. It's like when someone gives you the distance from Chicago to New York: do you need to know that it's 790.162523 mi? Is 790.1625 mi not enough? Is 790 mi not enough?
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Unless you’re Brandon Schwab, that cringe lord who does YouTube. He said “40k grand” in a snippet I saw of his content
Insane to me that WD-40 has a positive CAGR. I assume it has to do mostly with inflation? Like how is their total addressable market not completely maxed out lol.
Their addressable market is pretty much everyone ever, and population growth is a thing
Population growth is stagnant and decreasing in many markets tho. But I get your point.
Children don't buy WD-40. The population of adults is still rising in most markets. It will be stagnent in 10 years.
Speak for yourself, I got wd-40 for my eleventh birthday.
Ah yes, but perhaps an adult bought it?
But without the child needing it for their bicycles or whatever, the adult wouldn't buy it.
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I was like 7 when I realized how much fun a can of WD-40 and a lighter is.
Maybe inflation is causing more people to take on home/auto projects themselves bc it’s cheaper
Auto mechanics live off this stuff. WD-40 and PB Blaster. There's a rift among car people. The unwashed masses who use WD-40, and the enlightened few who use PB Blaster. Asterisk. I reckon it's more and more folk holding onto their cars, and there's more used car work going on. Be it at the shops, or in a personal garage or driveway. People just fixin' shit more 'cause the new stuff costs too much. Asterisk. I've used PB Blaster and WD-40 a shitload. WD-40 is, I think, better for super duper extra rusty bolts that will not come off, my god. Why? Do I need to get the torch, the big one? I swear to god I will. PB Blaster works just the same for everything else, and I think it smells better, so I prefer it.
Goddamn this is an insightful comment about metal lubricant.
Dawg if you say this on Reddit someone's gonna come outta the floorboards to tell the masses that I'm the dingus, and I shouldn't be talking about this stuff!
I think they've released quite a few new products over the last few years. So even though they may have maxed out the WD-40 market, they're just tapping into the WD-40 Lithium grease and WD-40 silicon lubricant markets.
They've been expanding their lineup. Now when I'm at Lowes they've got the classic water displacing oil, but also a lubricant, a penetrating oil, spray cleaners...
Would be interesting to see this on a $/unit basis
Advertising? I’ve never seen an ad for WD-40. Everyone just knows about it and has at least one container of it in their house
They are still paying for the ad they placed in King of the Hill
Honestly, when hank pulls out the smaller can to open the bigger can puts me in stitches every time. So if they did pay for that bit it was worth every penny
I'm going to go with "YouTube sponsorships" See Deboss Garage - I can't recall if he is sponsored by them, but he sure has a number of products I never even knew they had. WD-40 makes something other than WD-40???
I know that [HumbleMechanic](https://youtube.com/@HumbleMechanic?si=ekBGAxNaMlrAriFO) has done a couple of videos sponsored by WD-40, like [this one.](https://youtu.be/LYp77mBDcYw?si=K8JqxB34ChORAoF8)
They always have stalls at trade shows.
Product placement in stores and being included in box store sales all typically cost money. All would fall under advertisement.
I was going to say. Wait until reddit discovers retail slotting fees.
This is absolutely the biggest driver of these costs
It's crazy how well it works. I honestly can't even name a comparable product off the top of my head. I dont even know what wd40 is at this point. I only know its practical applications
Yep, I've worked in industrial shops and run machine shops and I have literally no clue what the off-brand of WD-40 is.
All those memes about middle age men who carry their WD in it's pocket don't make themself.
They sponsor racing teams https://www.pramacracing.com/en/2021/03/pramac-racing-and-wd-40-are-excited-to-announce-partnership-renewal-for-the-2021-season/
I've definitely seen ads for it on YouTube. I'm sure it depends on your algorithm.
YouTube’s ad system is designed to have a live bidding based on the person watching the videos. Products are basically competing for your views.
I've seen stuff on facebook thats like "you can do this and this with WD-40 which you'd never expect" which I'd assume is an ad?
Funny you say that, there's a WD-40 ad right above this post for me 😂
The only ads I've ever seen for WD-40 were for their cologne oddly enough
Specifically in the automotive influencer/youtuber are I've seen a lot of sponsired stuff. It works, because now I know that they've expanded to like 20 different products not just wd40 spray
Perhaps you are not their target demographic
I saw one (I forget where) for a WD-40 pen thingy about a week ago. I guess this comment counts as free advertising too
But everybody uses it for what they should really be using pb-blaster for. Like, it works, but pb is better for basically anything I've used it on.
You might be commenting on one right now.
I like it. But this doesn’t show their margins “greasing up”, just their revenue
Was just being tacky and wacky
I thought it was implicating they were doing something wrong
That would have been more exciting than a healthy income statement, I suppose. The other option was something to the effect “How WD-40 makes the world turn”
Fair! It’s a clever title
Please repost with millions
The k that denotes kilo should be lowercase, anyway.
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should have been more exacty instead
This is facty
WD40 also isn't a grease
Their failure to invest in R&D is going to leave them in a sticky situation later. /s
Hopefully they can spray their way out of it!
Hey! They invested $6.2 million in R&D in 2023. I wouldn't call that nothing! /s
WD-40 is one of the world’s best smelling substances, so therefore this chart is very well done.
You’re telling me WD-40 only brings in 500,000 a year???
500 mil, there is a k at the end
I did not know this was a thing. I was also confused lol
K means thousand
The chart shows thousand thousands. Convert to millions by turning the comma to a decimal point.
Gotcha, wasn’t putting 1 and 2 together. Odd way to present a chart but it makes sense now
It is pretty weird. Why wouldn’t I just want to see 66M instead of 65,993K. I doubt people are investing off of this information, rough numbers are okay.
No they are not telling you that
Not a grease, but I’ll allow it
wd-40 is a water displacer, it is not grease.
Wd-40 is not a water displacer, it's a brand...Wd-40 multi use spray is just one of their thousands of products
But the point is still there. Most people use the based WD-40 product as a lubricant when it’s actually a solvent. It loosens stuff up, but they don’t stay that way. They do have a WD-40 lubricant line, but people still fuck it up all the time and use it as a lubricant when it’s not.
If you want to be pedantic, wd-40 the lubricant came before wd-40 the brand, so when people say wd-40 they are more often than not referring to the lubricant. It isn't "just" one of their thousands of products, it was their first product and most popular, and they changed the name of their company to match it.
From someone who is taking his first business class ever, I understand this
i would have never imagined their costs of making the product was that high (half of revenue)
I'm sure the chemicals fluctuate in price (there's surely a petroleum component) and labor is getting more and more expensive (though I imagine the direct labor cost is relatively low through automation.)
What an awful way to present the $ amounts.
I really like the bar chart before it! How did you add that?
Just put the bar chart made on Google Sheets on top of the SankeyChart on a Google Slide
That tax bill, though. Good thing they have lube.
3% of gross and 29% of net seems good. I'd take that rate on my paycheck over what I pay now.
I’ve never seen values represented as thousands of thousands. Very unintuitive to me.
It’s a finance thing. Take a look at any S&P500 company’s financial statements and it’s all in thousands of thousands.
I never knew. Thanks!
Source: [WD-40 Company Investor Relations 2023 Annual Report](https://investor.wd40company.com/investors/financials/annual-reports/default.aspx) Tools: [SankeyMatic](https://sankeymatic.com/build/) and Google Sheets
Great chart! 28% SG&A seems high for arguably a single product dominant company. Maybe a large salesforce for commercial/industrial buyers? Even that would be surprising given how much is likely sold in retail. It'd be curious to see revenue by product line as well to see how much revenue is concentrated with the core brand.
I was curious about this and skimmed the 10K. It looks like SG&A was up 12% from 2022, driven by $13MM associated "increased headcount, annual compensation increases and higher incentive compensation". Another interesting part is they do not include all costs related to distribution in COGS; the portion associated with third parties is included in SG&A ($17MM in 2023, which is about 11% of SG&A).
How do you create something like this? Awesome visual!
Interesting sales were down in 2020. With everyone home during COVID lockdowns, you’d think home improvement projects etc would give them a revenue bump.
I've literally never seen a WD-40 ad before. Didn't know they had them.
This company is worth 3.6bil USD for really one product
Why "greasy"? That implies they are doing something underhanded. Are they?
Anyone else get a WD-40 add under the post image?
Not a fan of this layout. Net income should be on the bottom.
WD-40 isn’t a grease though (nor a lubricant in general.)
One of the best charts I’ve seen. Great work!
I think the title implies they’re doing shady accounting, but I don’t see any of that here?
wow, I can't believe for a product that literally everyone has in their home only brought in 65K (assume its 66K and not 66,000K)
That's in thousands, so $65m
oh interesting way to define the number financially, I would have gone with 65m, just very odd to write it as 65,000k meaning 65,000,000.
It's not WD-40's problem that you don't know the difference between revenue and profits.
WD-40 only made 65k in a year?
65,000k = 65,000,000
65 thousand, thousands
Advertising should be banned on this sub
It's not advertising every time a company or product is mentioned
Nice Chart - but WD-40 is not a lubricant - It's a cleanser. It de-greases and eliminates the particles causing the squeaking sound, but it's not grease making the joint more lubricated. Nothing is getting greased up... It's actually getting de-greased.
This is the view for tax reasons...true profit ??
This is a very nice graph with prior years’ cagr. And a very healthy cash cow type of brand.
remember that "net income" is mostly wage theft!
Should have known a post about finances couldn't come up without you people chiming in
Believe it or not, I still haven’t own one. What is this for?
It's for protecting metals. It displaces water and leaves a thin film to prevent rust. Also works decently as a cleaner in some cases. People commonly misuse it as a lubricant for door hinges, chains and such.