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ACCO Brands Corporation

ACCO
46
Business Equipment & Supplies · Industrials
Price
$4.24
+0.01 (+0.24%)
Market Cap
$391.2M
Winston Score
46
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Strong
Stability
Mixed
Valuation
Strong
Dividends
Good

Share count falling — buybacks

3.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 97.1M (2021) → 94.0M (2025)

Winston Score History

The full picture

ACCO Brands makes everyday office and school supplies. Its products include binders, folders, shredders, laminators, and desk accessories sold under brand names like Mead, Five Star, Swingline, and Kensington. The company sells to retailers, office supply stores, and schools across North America, Europe, and Latin America.

ACCO makes money by selling physical products to retailers and wholesalers, who then sell them to consumers and businesses. It operates globally but generates most of its revenue in the Americas, and its portfolio of well-known brand names gives it some shelf-space advantage over generic competitors. The biggest risk the company faces is the long-term decline in demand for paper-based office products as more work moves digital, which puts steady pressure on revenue growth.

Score breakdown

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Quality

Profit per sale
Gross Margin
32.3%
Modest — 32.3% gross margin
Profit after running costs
Operating Margin
7.3%
Modest — 7.3% operating margin
Return on the money invested
ROCE
6.0%
Weak — 6.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-0.6%
Shrinking sales (-0.6% YoY)
Profit growth
EPS YoY
+27.5%
Earnings growing fast (+27.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
126%
Turns 126% of profit into real cash
Spare cash per sale
FCF Margin
3.4%
Thin free cash flow (3.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
1.38
Elevated debt (1.38)
Covers its interest
Interest Cover
2.14x
Tight — interest eats into profit (2.1x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
6.7x
Attractive valuation — P/E 6.7

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
+1.8
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
7.11%
Healthy income — 7.11% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+0.0%
Dividend flat

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