Newell Brands Inc. NWL R3K
Company Overview
Newell Brands Inc. engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr. Coffee, Oster, and Sunbeam brands; small appliances under the Breville brand name in Europe; food and home storage products under the FoodSaver, Rubbermaid, Ball, and Sistema brands; fresh preserving products; vacuum sealing products; and gourmet cookware, bakeware, and cutlery under the Calphalon brand; and home fragrance products under the Chesapeake Bay, WoodWick, and Yankee Candle brands. The Learning and Development segment offers writing instruments, including markers and highlighters, pens, and pencils; art products; activity-based products; labeling solutions; and baby gear and infant care products under the Dymo, Elmer's, EXPO, Graco, NUK, Paper Mate, Parker, and Sharpie brands. The Outdoor and Recreation segment provides outdoor and outdoor-related products, inlcuding technical apparel and on-the-go beverageware under the Bubba, Campingaz, Coleman, Contigo, and Marmot brands. It serves large mass merchandisers, discount stores, home centers, warehouse clubs, office superstores, direct-to-consumer channels, specialty retailers and wholesalers, commercial distributors and e-commerce retailers, grocery stores, and sporting goods, as well as direct to consumers online, select contract customers, and other professional customers. The company was founded in 1903 and is headquartered in Atlanta, Georgia.
Why Investors Should Care
Offers a dividend yield of 5.00%.
Generates positive free cash flow, funding growth and shareholder returns internally.
Recent Developments
- Dec 2025 Revenue of $7.20B (-5.0% YoY); net profit $-285.00M.
- Trailing 12 Months Year-on-year growth — revenue +3.0%, earnings +126.6%.
- 5-Year Trend Long-term compounding — revenue CAGR 0.7%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 0.67% |
| 1 Year: | 3.00% |
Compounded Profit Growth
| 5 Years: | - |
| 1 Year: | 126.60% |
Stock Price Performance
| 1 Year: | +30.59% |
| 6 Months: | +53.18% |
| 3 Months: | +52.32% |
| 1 Month: | +6.70% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
- Price vs 50-DMAAbove
- Price vs 200-DMAAbove
- RSI (14)60.99 · Neutral
Auto-generated from price history and fundamentals; not investment advice.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
- Attractive dividend yield of 5.00%.
- Generates positive free cash flow.
- In a confirmed uptrend (50-DMA above 200-DMA).
CONS
No notable concerns flagged.
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Consumer Defensive).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | NWL Newell Brands Inc. R3K | 6.34 | -11.96 | $2.70B | 5.00% | 5.75% | -8.59% | 0.67% | - |
| 2 | WMT Walmart Inc. SPXR3K | 107.14 | 38.82 | $850.02B | 0.93% | 16.83% | 22.31% | 3.82% | 3.24% |
| 3 | COST Costco Wholesale Corporation NDXSPXR3K | 910.18 | 45.88 | $403.65B | 0.65% | 25.96% | 29.15% | 8.16% | 11.45% |
| 4 | KO The Coca-Cola Company SPXR3K | 88.36 | 26.53 | $380.17B | 2.41% | 16.47% | 42.05% | 2.86% | 4.46% |
| 5 | PG The Procter & Gamble Company SPXR3K | 145.58 | 21.99 | $338.39B | 2.95% | 22.49% | 30.29% | 0.52% | 1.59% |
| 6 | PM Philip Morris International Inc. SPXR3K | 184.73 | 25.37 | $287.92B | 3.09% | 34.03% | -113.55% | -1.69% | 3.57% |
| 7 | PEP PepsiCo, Inc. NDXSPXR3K | 138.45 | 18.15 | $189.12B | 4.43% | 15.41% | 51.51% | 4.93% | 2.11% |
| 8 | BUD Anheuser-Busch InBev SA/NV | 79.73 | 17.18 | $139.30B | 1.69% | 8.49% | 11.39% | 0.88% | 4.63% |
| 9 | BTI British American Tobacco p.l.c. | 55.15 | 14.18 | $118.73B | 5.98% | 12.44% | 13.42% | -2.53% | 5.21% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Sep 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | 1.81B | 2.20B | 2.55B | 2.04B | 2.48B | 2.57B | 1.89B | 2.11B | 2.70B | 2.29B | 2.71B | 2.79B | 2.81B | 2.39B | 2.53B | 2.25B | 2.29B | 1.80B | 2.20B | 2.05B | 1.65B | 2.03B | 1.95B | - | 1.57B | 1.94B | 1.81B | 1.90B | 1.55B | 1.99B |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.06B | 1.25B | 1.19B | 1.27B | 1.04B | - |
| Gross Profit | 576.70M | 487.50M | 621.00M | 598.90M | 505.60M | 1.10B | 1.27B | 1.12B | 877.20M | 864.90M | 605.30M | 774.80M | 915.40M | 655.00M | 865.00M | 847.00M | 617.00M | 664.00M | 914.00M | 731.00M | 882.00M | 848.00M | - | 740.00M | 836.00M | 658.00M | - | 482.00M | 629.00M | 621.00M | 504.00M | 699.00M | 679.00M | - | 503.00M | 685.00M | 616.00M | 628.00M | 513.00M | 812.00M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 471.00M | 508.00M | 492.00M | 490.00M | 472.00M | - |
| Operating Income | 173.20M | 98.20M | 214.70M | 186.60M | 125.40M | 137.70M | 323.90M | 154.00M | 92.30M | 141.10M | -26.40M | 83.90M | -7.84B | 12.00M | 231.00M | -857.00M | -1.41B | 163.00M | 363.00M | 198.00M | 329.00M | 316.00M | 170.00M | 217.00M | 328.00M | 40.00M | -273.00M | -36.00M | 120.00M | -159.00M | 16.00M | 163.00M | -121.00M | - | 32.00M | 177.00M | 124.00M | 138.00M | 41.00M | 283.00M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 92.00M | 232.00M | 202.00M | -195.00M | 102.00M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 72.00M | 82.00M | 83.00M | 84.00M | 84.00M | - |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -55.00M | 71.00M | 42.00M | -359.00M | -61.00M | - |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -18.00M | 25.00M | 21.00M | -44.00M | -28.00M | - |
| Net Income | 122.30M | 54.10M | 148.50M | 134.20M | 40.50M | 135.20M | 186.50M | 638.50M | 223.00M | 234.40M | 53.30M | 131.70M | -7.31B | -151.00M | 90.00M | -626.00M | -1.28B | 78.00M | 304.00M | 93.00M | 216.00M | 215.00M | 98.00M | 228.00M | 199.00M | 19.00M | -249.00M | -102.00M | 18.00M | -218.00M | -9.00M | 45.00M | -198.00M | - | -37.00M | 46.00M | 21.00M | -315.00M | -33.00M | 106.00M |
| Diluted EPS | 0.44 | 0.20 | 0.55 | 0.50 | 0.15 | 0.30 | 0.38 | 1.31 | 0.46 | 0.48 | 0.11 | 0.27 | -15.52 | -0.36 | 0.21 | -1.48 | -3.02 | 0.18 | 0.71 | 0.22 | 0.50 | 0.50 | 0.23 | 0.54 | 0.48 | 0.05 | -0.60 | -0.25 | 0.04 | -0.53 | -0.02 | 0.11 | -0.48 | - | -0.09 | 0.11 | 0.05 | -0.75 | -0.08 | 0.25 |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.47B | 5.48B | 5.66B | 5.51B | 5.51B | 5.61B | 5.73B | 5.92B | 9.18B | 11.17B | 10.15B | 9.71B | 9.38B | - | 9.46B | 8.13B | 7.58B | 7.20B |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6.62B | 5.78B | 5.03B | 4.77B |
| Gross Profit | 2.12B | 2.03B | 2.15B | 2.10B | 2.09B | 2.12B | 2.20B | 2.30B | 2.97B | 3.81B | 3.52B | 3.22B | 3.08B | - | 2.83B | 2.35B | 2.55B | 2.43B |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.03B | 2.00B | 2.07B | 1.96B |
| Operating Income | 200.80M | 575.30M | 623.50M | 313.00M | 637.70M | 615.10M | 604.70M | 601.40M | 298.10M | 706.80M | -7.55B | -482.00M | -629.00M | - | 803.00M | 352.00M | 478.00M | 471.00M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 688.00M | 74.00M | 358.00M | 331.00M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 235.00M | 283.00M | 295.00M | 321.00M |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 157.00M | -543.00M | -260.00M | -301.00M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -40.00M | -155.00M | -44.00M | -16.00M |
| Net Income | -52.30M | 285.50M | 292.80M | 125.20M | 401.30M | 474.60M | 377.80M | 350.00M | 527.80M | 2.75B | -6.94B | 107.00M | -766.00M | - | 197.00M | -388.00M | -216.00M | -285.00M |
| Diluted EPS | -0.18 | 0.97 | 0.96 | 0.42 | 1.37 | 1.63 | 1.35 | 1.29 | 1.25 | 5.63 | -14.65 | 0.25 | -1.81 | - | 0.47 | -0.94 | -0.52 | -0.68 |
| R&D Expense | - | 118.40M | 128.80M | 118.50M | 109.60M | 102.90M | 107.50M | 112.60M | 147.00M | 175.00M | 151.00M | 149.00M | 144.00M | 153.00M | 140.00M | 117.00M | 123.00M | 114.00M |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | - | - | 6.42B | 6.41B | 6.16B | 6.22B | 6.07B | 6.56B | 7.26B | 33.84B | 33.14B | 17.72B | 15.64B | 14.70B | - | 13.26B | 12.16B | 11.00B | 10.71B |
| Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4.05B | 3.35B | 2.77B | 2.71B |
| Cash & Equivalents | 329.20M | 275.40M | 278.30M | 139.60M | 170.20M | 183.80M | 226.30M | 199.40M | 274.80M | 587.50M | 485.70M | 495.70M | 349.00M | 981.00M | - | 287.00M | 332.00M | 198.00M | 203.00M |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.20B | 1.53B | 1.40B | 1.28B |
| Receivables | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.25B | 1.20B | 878.00M | 987.00M |
| Total Liabilities | - | - | - | - | - | - | - | - | - | 22.45B | 18.95B | 12.47B | 10.65B | 10.80B | - | 9.74B | 9.05B | 8.25B | 8.32B |
| Current Liabilities | - | - | 1.76B | 1.67B | 1.66B | 1.57B | 1.60B | 1.89B | 1.99B | 4.29B | 4.91B | 3.30B | 2.98B | 3.62B | - | 3.08B | 2.90B | 2.44B | 2.52B |
| Long Term Debt | - | - | 2.02B | 2.06B | 1.81B | 1.71B | 1.66B | 2.08B | 2.67B | 11.29B | 9.89B | 6.70B | 5.39B | 5.14B | - | 4.76B | 4.58B | 4.51B | 4.54B |
| Total Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6.01B | 5.47B | 5.12B | 5.22B |
| Total Equity | 2.22B | 1.59B | 1.78B | 1.90B | 1.85B | 2.00B | 2.07B | 1.85B | 1.82B | 11.35B | 14.14B | 5.22B | 4.96B | 3.87B | - | 3.52B | 3.11B | 2.75B | 2.39B |
| Shares Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 438.60M | 439.60M | 442.30M | 447.10M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 454.90M | 602.80M | 582.60M | 561.30M | 618.50M | 605.20M | 634.10M | 592.90M | 1.84B | 966.20M | 680.00M | 1.04B | 1.43B | - | -272.00M | 930.00M | 496.00M | 264.00M |
| Investing Cash Flow | -804.10M | -149.40M | -153.40M | -206.40M | -163.00M | 53.40M | -751.90M | -649.90M | -8.82B | 1.08B | 4.81B | 736.00M | -228.00M | - | 343.00M | -199.00M | -151.00M | -164.00M |
| Financing Cash Flow | 306.00M | -427.00M | -571.90M | -324.60M | -446.00M | -613.50M | 119.00M | 145.20M | 7.33B | -2.20B | -5.45B | -1.90B | -559.00M | - | -232.00M | -664.00M | -451.00M | -101.00M |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -312.00M | -284.00M | -259.00M | -247.00M |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -584.00M | 646.00M | 237.00M | 17.00M |
| Net Change in Cash | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -161.00M | 67.00M | -106.00M | -1.00M |
| Share Buybacks | 0 | 0 | 500.10M | 46.10M | 91.50M | 470.00M | 363.20M | 180.40M | 0 | 152.40M | 1.51B | 0 | 0 | 0 | 325.00M | 0 | 0 | - |
Ratios (Annual)
Figures in %.
| Metric | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 32.8% | 37.0% | 38.0% | 38.1% | 38.0% | 37.9% | 38.5% | 39.0% | 32.4% | 34.1% | 34.6% | 33.1% | 32.9% | - | 30.0% | 28.9% | 33.6% | 33.8% |
| Operating Margin % | 3.1% | 10.5% | 11.0% | 5.7% | 11.6% | 11.0% | 10.6% | 10.2% | 3.2% | 6.3% | -74.4% | -5.0% | -6.7% | - | 8.5% | 4.3% | 6.3% | 6.5% |
| Net Margin % | -0.8% | 5.2% | 5.2% | 2.3% | 7.3% | 8.5% | 6.6% | 5.9% | 5.7% | 24.6% | -68.4% | 1.1% | -8.2% | - | 2.1% | -4.8% | -2.8% | -4.0% |
| ROE % | -3.3% | 16.1% | 15.4% | 6.8% | 20.1% | 22.9% | 20.4% | 19.2% | 4.7% | 19.4% | -133.0% | 2.2% | -19.8% | - | 5.6% | -12.5% | -7.9% | -11.9% |
| ROCE % | - | 12.3% | 13.2% | 7.0% | 13.7% | 13.8% | 12.9% | 11.4% | 1.0% | 2.5% | -52.4% | -3.8% | -5.7% | - | 7.9% | 3.8% | 5.6% | 5.8% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 16.80% | 71.03M | $389.25M |
| 2 | Pzena Investment Management LLC | 11.35% | 47.99M | $262.99M |
| 3 | AQR Capital Management, LLC | 6.76% | 28.58M | $156.60M |
| 4 | Vanguard Portfolio Management LLC | 6.30% | 26.62M | $145.88M |
| 5 | Deprince, Race & Zollo, Inc. | 5.13% | 21.68M | $118.83M |
| 6 | Vanguard Capital Management LLC | 4.52% | 19.10M | $104.69M |
| 7 | State Street Corporation | 4.27% | 18.07M | $99.03M |
| 8 | Massachusetts Financial Services Co. | 3.83% | 16.19M | $88.73M |
| 9 | Rubric Capital Management LP | 3.78% | 16.00M | $87.68M |
| 10 | Dimensional Fund Advisors LP | 3.41% | 14.41M | $78.98M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for NWL
Newell Brands to Webcast Fireside Chat at the Barclays Global Consumer Conference
ATLANTA, August 27, 2026--Newell Brands Inc. (NASDAQ: NWL) announced today that President and Chief Executive Officer, Chris Peterson, and Chief Financial Officer, Mark Erceg, will participate in a fireside chat at the Barclays Global Consu…
Newell Brands (NWL) Stock May Be Undervalued On Tariff Refund Led Sales Growth
Newell Brands stock has climbed strongly in the short term, yet long term holders are still sitting on heavy losses, which puts fresh focus on whether the current US$6.01 share price lines up with what the valuation checks suggest. Over 5 y…
Newell Brands (NWL) Q2 2026 Earnings Call Transcript
Newell returns to sales growth for first time in four years, raising full-year guidance.
Zacks.com featured highlights TD SYNNEX, Ameriprise, Harmony and Newell Brands
TD SYNNEX, Ameriprise, Harmony and Newell Brands have been highlighted in this Screen of The Week article.
Should Value Investors Buy Newell Brands (NWL) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to u…
Hamilton Beach Brand’s Core Recovery, Premiumization & Adjacent Growth – Initiation Report
Download the Complete Report Here Hamilton Beach Brands (HBB) Core Recovery, Premiumization and Adjacent Growth Strengthen HBB’s Growth Outlook and Re-Rating Potential Scaled asset-light appliance platform extending into commercial and heal…
NWL — Frequently Asked Questions
What is the current share price of Newell Brands Inc. (NWL)?
As of 2026-09-19 21:16 PDT, Newell Brands Inc. (NWL) trades at $6.34 on NasdaqGS. Its 52-week range is $2.91 to $6.34.
What is the market capitalisation of NWL?
Newell Brands Inc. (NWL) has a market capitalisation of $2.70B on NasdaqGS.
What is the P/E ratio of NWL?
NWL trades at a trailing price-to-earnings (P/E) ratio of -11.96. The industry average P/E is 18.56. Its price-to-book (P/B) ratio is 0.95.
Does NWL pay a dividend?
Newell Brands Inc. (NWL) currently offers a dividend yield of 5.00%.
What is the return on equity (ROE) of NWL?
NWL has a return on equity (ROE) of -8.59%. Its return on capital employed (ROCE) is 5.75%.
Is NWL a good stock to buy?
This page provides a data-driven analysis of Newell Brands Inc. (NWL), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.