WD-40 Company (WDFC): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the story behind that iconic blue and yellow can found in nearly every household and workshop? The WD-40 Company, with its signature product, boasts a rich history and a fascinating business model. How did a rust-prevention solvent for missiles transform into a global household name with **$380.5 million** in revenue in 2017? Keep reading to uncover the secrets behind WD-40's enduring success, its ownership structure, and the mission that drives its operations.

WD-40 Company (WDFC) History

WD-40 Company Founding Timeline

Year established

The company was officially established in 1953.

Original location

The original headquarters were located in San Diego, California.

Founding team members

The primary founder was Norm Larsen, along with the Rocket Chemical Company team.

Initial capital/funding

The initial funding was primarily internal, as the product was developed within the Rocket Chemical Company. Specific figures for initial capital are not widely publicized, but the resources of the Rocket Chemical Company were utilized.

WD-40 Company Evolution Milestones

WD-40 Company Transformative Moments

• The shift to consumer sales in 1958: Initially developed for industrial use, the decision to sell WD-40 to consumers transformed the company.
• Going public in 1973: This provided capital for expansion and increased the company's visibility and credibility.
• Cultural shift under Garry O. Ridge: Ridge focused on creating a strong company culture, which improved employee engagement and innovation.
• Product line expansion: Diversifying beyond the original WD-40 formula into a range of products for specific uses.

For more insights into WD-40 Company's investor profile, check out: Exploring WD-40 Company (WDFC) Investor Profile: Who’s Buying and Why?

WD-40 Company (WDFC) Ownership Structure

The company operates with a publicly traded ownership structure, meaning its shares are available for purchase by the general public on the stock market. This structure allows for a broad base of investors, from individuals to large institutions, to own a portion of the company.

WD-40 Company's Current Status

WD-40 Company is a public company, trading on the NASDAQ stock exchange under the ticker symbol WDFC. This means that anyone can buy and sell shares in the company, and its financial performance is subject to public reporting requirements.

WD-40 Company's Ownership Breakdown

Understanding the ownership structure of a public company like WD-40 Company provides insights into who has influence over its decisions. Here's a breakdown of the company's ownership as of April 2025:

WD-40 Company's Leadership

The leadership team is responsible for setting the strategic direction of the WD-40 Company and overseeing its day-to-day operations. Key figures include:

• Garry O. Ridge: Chairman of the Board
• Steve Brass: President and Chief Executive Officer

For more insight into the company's guiding principles, explore Mission Statement, Vision, & Core Values of WD-40 Company (WDFC).

WD-40 Company (WDFC) Mission and Values

The WD-40 Company's mission and values reflect a commitment to creating positive lasting memories by developing and selling products that solve problems in workshops, factories, and homes around the world. These principles guide their business practices and define their relationships with employees, customers, and communities.

WD-40 Company's Core Purpose

Official mission statement

The WD-40 Company's official mission statement is:

To create positive lasting memories by developing and selling products that solve problems in workshops, factories, and homes around the world.

• Creating positive lasting memories emphasizes building strong relationships with customers and employees.
• Developing and selling products highlights the company's focus on innovation and providing solutions.
• Solving problems in workshops, factories, and homes indicates the broad applicability of their products.

Vision statement

The WD-40 Company's vision statement is:

To be the best problem solvers in the world.

• Being the best problem solvers reflects a commitment to excellence and continuous improvement.
• This vision guides the company's strategic decisions and product development efforts.

Company slogan/tagline

The WD-40 Company's slogan/tagline is:

“WD-40: There’s always another use.®”

• This slogan highlights the versatility and wide range of applications for WD-40 products.
• It reinforces the idea that WD-40 is a reliable solution for various problems.

For more in-depth information, you can explore: Mission Statement, Vision, & Core Values of WD-40 Company (WDFC).

WD-40 Company (WDFC) How It Works

WD-40 Company primarily operates by manufacturing and selling maintenance products, homecare, and cleaning products. The company generates revenue through direct sales to retailers, wholesalers, and distributors globally.

WD-40 Company's Product/Service Portfolio

WD-40 Company's Operational Framework

WD-40 Company's operational framework is built around several key processes:

• Product Development and Innovation: WD-40 invests in research and development to create new products and improve existing formulations.
• Manufacturing and Packaging: The company outsources the manufacturing and packaging of its products to various contract manufacturers.
• Distribution and Sales: WD-40 products are sold through a global network of distributors, wholesalers, retailers, and online channels.
• Marketing and Branding: WD-40 employs various marketing strategies to promote its brand and products, including advertising, public relations, and digital marketing.
• Supply Chain Management: WD-40 manages its supply chain to ensure the timely and efficient delivery of its products to customers.

WD-40 Company's Strategic Advantages

WD-40 Company maintains its competitive edge through:

• Brand Recognition: The WD-40 brand is globally recognized and trusted for its quality and effectiveness.
• Diversified Product Portfolio: WD-40 offers a range of products that cater to various customer needs and applications.
• Global Distribution Network: The company has a well-established distribution network that allows it to reach customers in over 176 countries and territories worldwide.
• Strong Financial Performance: WD-40 has a history of strong financial performance, with consistent revenue growth and profitability. For the fiscal year 2024, WD-40 Company reported net sales of $581.6 million, a 7% increase compared to the fiscal year 2023.
• Effective Marketing Strategies: WD-40 employs effective marketing strategies to promote its brand and products, including advertising, public relations, and digital marketing.

For additional insights into WD-40 Company's financial standing, consider exploring: Breaking Down WD-40 Company (WDFC) Financial Health: Key Insights for Investors

WD-40 Company (WDFC) How It Makes Money

The company primarily generates revenue through the manufacturing and sale of maintenance, homecare, and cleaning products. Its flagship product, the multi-purpose lubricant, is a significant contributor, alongside other offerings like cleaners, degreasers, and rust removers.

Revenue Breakdown

Here's a look at the company's revenue streams:

Business Economics

Several factors underpin the company's business economics:

• Pricing Power: The company benefits from strong brand recognition, allowing it to maintain premium pricing.
• Cost Management: Efficient supply chain management and operational efficiencies help maintain healthy profit margins.
• Global Distribution: A well-established global distribution network ensures product availability worldwide.
• Innovation: Continuous product development and introduction of new products drive revenue growth.

The company's economic fundamentals are further shaped by:

• Strong Brand Equity: The brand's reputation for quality and reliability supports customer loyalty.
• Diverse Customer Base: Serving a wide range of industries and consumers reduces dependence on any single market segment.
• Recurring Revenue: Many of the company's products are consumable, leading to repeat purchases.

To gain more insights into the guiding principles that steer the company, explore: Mission Statement, Vision, & Core Values of WD-40 Company (WDFC).

Financial Performance

Key highlights of the company's financial performance include:

• Consistent Revenue Growth: The company has demonstrated a history of steady revenue growth, driven by both organic expansion and strategic acquisitions. In fiscal year 2024, the company reported net sales of $537.7 million, reflecting an increase of 7% compared to the previous year.
• Strong Profitability: The company maintains healthy profit margins through effective cost control and pricing strategies. The gross margin for fiscal year 2024 was 51.8%.
• Cash Flow Generation: The company generates strong cash flow, which is used to fund dividends, share repurchases, and acquisitions. Net cash provided by operating activities for fiscal year 2024 was $78.1 million.
• Return on Equity (ROE): The company boasts a high ROE, indicating efficient use of shareholder equity to generate profits.

Additional financial highlights:

• Diluted EPS increased to $5.30.
• The company expects net sales growth of 3% - 5% in fiscal year 2025.

WD-40 Company (WDFC) Market Position & Future Outlook

The WD-40 Company maintains a strong market position, driven by its globally recognized brand and versatile product line. Future growth hinges on strategic initiatives, including product innovation, expansion into new markets, and enhanced digital engagement, all while navigating a dynamic and competitive landscape. For a deeper dive into the company's financial performance, consider reading: Breaking Down WD-40 Company (WDFC) Financial Health: Key Insights for Investors.

Competitive Landscape

Opportunities & Challenges

Industry Position

The WD-40 Company holds a dominant position in the multi-purpose maintenance product category, primarily due to its well-known brand and extensive distribution network. The company's strategy focuses on:

• Brand Strength: Maintaining high brand awareness and loyalty through consistent marketing efforts.
• Product Diversification: Expanding product lines to address specific customer needs and applications.
• Global Expansion: Increasing market penetration in international markets, particularly in developing economies.
• Operational Efficiency: Optimizing supply chain and manufacturing processes to reduce costs and improve profitability.