ACCOHIGH SIGNALFINANCIAL10-K

ACCO experienced a substantial decline in operating cash flow while simultaneously reducing its outstanding share count and refining its strategic priorities toward technology expansion.

The dramatic reduction in operating cash flow represents a significant deterioration in the company's cash generation capability, which could constrain its ability to execute on stated priorities of debt reduction and capital allocation. However, the company reduced its share count by approximately 2.9 million shares, suggesting active capital management through buybacks despite the cash flow pressures.

Comparing 2026-03-09 vs 2025-02-21View on EDGAR →
FINANCIAL ANALYSIS

ACCO's financial position shows mixed signals with operating cash flow declining substantially to $68.7M while cash and equivalents increased modestly to $41.2M. The sharp reduction in operating cash flow generation represents a meaningful headwind for a company that has prioritized debt reduction and consistent dividend payments. The modest cash position increase suggests careful liquidity management despite the operating cash flow pressures.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
-53.6%
$148.2M$68.7M

Operating cash flow fell 53.6% — earnings quality concerns; investigate working capital changes and non-cash items.

Cash & Equivalents
Balance Sheet
+12.6%
$36.6M$41.2M

Cash grew 12.6% — improving liquidity position supports investment and shareholder returns.

LANGUAGE CHANGES
NEW — 2026-03-09
PRIOR — 2025-02-21
ADDED
As of March 2, 2026, the registrant had outstanding 90,170,277 shares of Common Stock.
Our top 12 brands represented approximately $1.1 billion of our 2025 net sales.
only Business Strategy Our key strategic priorities are to: Enhance innovation and new product development processes, expand into new points of distribution and extend our product offering into adjacent categories.
Expand organically and inorganically the mix of business into higher growth technology peripheral categories.
Our capital allocation strategy prioritizes debt reduction to strengthen our balance sheet, while also supporting the quarterly dividend, potential share repurchases and opportunistic mergers and acquisitions.
Sales Percentage by Operating Segment 2025 2024 2023 ACCO Brands Americas 59% 60% 62% ACCO Brands International 41% 40% 38% 100% 100% 100% For more information on our operating segments see "Note 18.
2 Competition We operate in a highly competitive environment.
Additionally, our gaming accessories 3 business depends on maintaining our licensing rights with key gaming console manufacturers and video game publishers, while our audio products business depends in part on certifications as to their compatibility with third party communications platforms.
At the end of 2025, we had approximately 4,700 full-time and part-time employees worldwide, with approximately 3,600 employees based outside the U.S.
4 Executive Leadership of the Company As of February 27, 2026, the executive leadership team of the Company consisted of the following executive officers.
REMOVED
As of February 13, 2025, the registrant had outstanding 92,881,008 shares of Common Stock.
Our top 12 brands represented approximately $1.3 billion of our 2024 net sales.
only Business Strategy Our key strategic priorities are to: Focus on improving our innovation and new product development processes, expanding into new points of distribution and extending our product offering into adjacent categories.
1 Maintain a balanced capital allocation strategy, which prioritizes debt reduction with our consistent cash flow to strengthen our balance sheet, while also supporting the quarterly dividend, potential share repurchases and opportunistic M A.
Our capital allocation strategy includes investment to support internal capital projects to support our long-term growth, funding our quarterly dividend, share repurchases, debt reduction and potential acquisitions.
Sales Percentage by Operating Segment 2024 2023 2022 ACCO Brands Americas 60% 62% 62% ACCO Brands International 40% 38% 38% 100% 100% 100% For more information on our operating segments see "Note 17.
Effective January 1, 2024, the Company reorganized into two operating segments, the Americas and International.
Americas includes the U.S., Canada, Brazil, Mexico and Chile and International includes EMEA, Australia, New Zealand and Asia.
This reorganization has and will continue to simplify and delayer the Company's operating structure and is continuing to reduce costs through headcount reductions, supply change optimization, global footprint rationalization, and better leverage of our sourcing capabilities.
Prior period results have been reclassified to reflect this change in our operating segments.
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