WHRHIGH SIGNALFINANCIAL10-K

Whirlpool shows deteriorating financial performance with substantially higher interest expense, weakened cash generation, and reduced liquidity position alongside operational restructuring including deconsolidation of India operations.

The company faces mounting financial pressure as interest expense increased dramatically while operating cash flow declined substantially, suggesting either increased debt burden or higher borrowing costs. The significant reduction in cash reserves combined with weaker cash generation raises questions about financial flexibility and debt servicing capability.

Comparing 2026-02-11 vs 2025-02-13View on EDGAR →
FINANCIAL ANALYSIS

Whirlpool's financial position weakened notably across multiple metrics, with interest expense substantially higher year-over-year while operating cash flow declined meaningfully. The company's cash position dropped significantly from $1.3B to $669M, representing a material reduction in liquidity buffers. Despite inventory growing modestly and current liabilities decreasing, the combination of higher financing costs, reduced cash generation, and lower dividend payments suggests the company is managing through financial stress while restructuring operations.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
+84.7%
$190.0M$351.0M

Interest expense surged 84.7% — significant debt increase or rising rates materially impacting earnings.

Cash & Equivalents
Balance Sheet
-47.5%
$1.3B$669.0M

Cash declined 47.5% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Operating Cash Flow
Cash Flow
-43.7%
$835.0M$470.0M

Operating cash flow fell 43.7% — earnings quality concerns; investigate working capital changes and non-cash items.

Dividends Paid
Cash Flow
-21.9%
$384.0M$300.0M

Dividend reduced 21.9% — monitor management commentary on capital allocation priorities.

Inventory
Balance Sheet
+13.4%
$2.0B$2.3B

Inventory built 13.4% — monitor whether demand supports this build or if write-downs may follow.

Current Liabilities
Balance Sheet
-11.1%
$7.3B$6.5B

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2026-02-11
PRIOR — 2025-02-13
ADDED
On February 6, 2026, the registrant had 56,518,699 shares of common stock outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.
Whirlpool had approximately $16 billion in annual net sales and 41,000 employees in 2025.
As of December 31, 2025, the operations previously reported within the MDA Asia segment are no longer reported as a segment as a result of the deconsolidation of Whirlpool India.
Prior period segment information has been recast to retrospectively reflect this change.
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REMOVED
On February 7, 2025, the registrant had 55,382,815 shares of common stock outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.
Whirlpool had approximately $17 billion in annual net sales and 44,000 employees in 2024.
Below are the key components of our strategic architecture for 2024.
4 Reconciliations to equivalent GAAP net earnings measures are not provided as EBIT percentages presented above represent our expectations for these business lines and are not provided with respect to results for any specific period.
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