olivLaw · US equity research
Acme United Corporation ACU
Cutlery, Handtools & General Hardware · SIC 3420 · Vertical: Cutlery, Handtools & General Hardware (SIC 3420)
Acme United Corporation is an international supplier of first aid, medical and cutting products sold to schools, offices, retail and industry. With revenue of 196.5 million USD in 2025 and a record second quarter in 2026, the company has relied on acquisitions such as My Medic, while tariffs continue to pressure its margins.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Acme United Corporation (ACU) stock was 70.75 USD (+1.80% on the day), with market capitalisation 271.2 m USD, P/E 29.7 on diluted EPS of 2.38 USD over the last 12 months, dividend yield 0.90%, beta 0.51, 52-week range 35.50–70.75 USD. Latest reported quarter (Q2 2026): revenue of 62.7 m USD (+16.1% YoY), net income of 5.1 m USD (+6.3% YoY), diluted EPS 1.22 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 75.9
- overbought (≥ 70)
- Bollinger (20, 2)
- 58.62 – 70.40
- above the upper band · %B 1.03 · band width 18.3%
- SMA 50 / 200
- 63.32 / 50.70
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.91 / 1.20
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +11.1% | −1.1% | +12.2 pp | — |
| 3 months | +27.6% | −0.5% | +28.1 pp | — |
| 6 months | +67.6% | +4.4% | +63.2 pp | — |
| Year to date | +75.5% | +12.3% | +63.2 pp | — |
| 1 year | +87.8% | +13.5% | +74.2 pp | +35.2% |
| 3 years | +113.8% | +76.4% | +37.4 pp | +34.2% |
| 5 years | +97.6% | +63.7% | +34.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 48.2 m | 45.9 m | 46.0 m | 54.0 m | 49.1 m | 47.5 m | 52.3 m | 62.7 m |
| Cost of revenue | 29.6 m | 28.2 m | 28.0 m | 31.8 m | 29.9 m | 29.4 m | 31.5 m | 36.0 m |
| Gross profit | 18.6 m | 17.8 m | 17.9 m | 22.1 m | 19.2 m | 18.1 m | 20.8 m | 26.7 m |
| SG&A | 15.6 m | 15.5 m | 15.5 m | 15.8 m | 16.2 m | 15.2 m | 19.0 m | 19.9 m |
| Operating income | 2.9 m | 2.3 m | 2.4 m | 6.4 m | 3.0 m | 2.9 m | 1.7 m | 6.8 m |
| Depreciation & amortisation | 1.5 m | 1.6 m | 1.5 m | 1.5 m | 1.6 m | 1.7 m | 2.0 m | 1.9 m |
| Interest expense | 568.0 k | 461.0 k | 397.0 k | 401.0 k | 451.0 k | 373.0 k | 486.0 k | 532.0 k |
| Pre-tax income | 2.4 m | 1.9 m | 2.1 m | 6.1 m | 2.4 m | 2.5 m | 1.2 m | 6.3 m |
| Income tax | 182.0 k | 153.1 k | 466.0 k | 1.3 m | 536.0 k | 595.2 k | 259.0 k | 1.3 m |
| Net income | 2.2 m | 1.7 m | 1.7 m | 4.8 m | 1.9 m | 1.9 m | 985.0 k | 5.1 m |
| Diluted EPS | 0.54 | 0.41 ≈ | 0.41 | 1.16 | 0.46 | 0.46 ≈ | 0.24 | 1.22 |
| Operating cash flow | 8.9 m ≈ | 6.4 m | -3.3 m | 6.3 m ≈ | 7.1 m ≈ | 8.2 m | -2.2 m | 13.1 m ≈ |
| Capex | 1.4 m ≈ | 1.7 m | 1.4 m | 1.6 m ≈ | 6.8 m ≈ | 898.9 k | 1.9 m | 1.1 m ≈ |
| Dividends paid | 554.0 k ≈ | 562.9 k | 563.0 k | 608.0 k ≈ | 564.0 k ≈ | 608.3 k | 610.0 k | 609.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 39-quarter history (min 7.0, median 15.8, max 28.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 137.3 m | 142.5 m | 164.0 m | 182.1 m | 194.0 m | 191.5 m | 194.5 m | 196.5 m |
| Revenue YoY | +5.2% | +3.7% | +15.1% | +11.0% | +6.5% | −1.3% | +1.6% | +1.1% |
| Net income | 4.6 m | 5.5 m | 8.1 m | 13.7 m | 3.0 m | 17.8 m | 10.0 m | 10.2 m |
| Net income YoY | +13.5% | +19.9% | +46.9% | +68.6% | −77.8% | +486.3% | −43.7% | +1.6% |
| Diluted EPS | 1.30 | 1.60 | 2.31 | 3.45 | 0.82 | 4.86 | 2.45 | 2.49 |
| Diluted EPS YoY | +19.3% | +23.1% | +44.4% | +49.4% | −76.2% | +492.7% | −49.6% | +1.6% |
| net % | 3.3% | 3.9% | 4.9% | 7.5% | 1.6% | 9.3% | 5.2% | 5.2% |
| Free cash flow | 1.6 m | 13.0 m | 3.2 m | -1.2 m | -1.4 m | 24.2 m | 4.8 m | 7.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 3.6 m USD
- Financial debt
- 11.9 m USD
- Net debt
- 8.3 m USD
- Equity
- 117.6 m USD
- Total assets
- 171.0 m USD
- Debt / equity
- 0.10x
- Current ratio
- 4.21x
- ROE
- 9.1%
- ROA
- 6.1%
- FCF margin
- 3.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 164.0 m | 182.1 m | 194.0 m | 191.5 m | 194.5 m | 196.5 m | SEC (XBRL)· 11 Mar 2026verified |
| Cost of revenue | 104.4 m | 117.3 m | 130.4 m | 119.3 m | 118.1 m | 119.1 m | SEC (XBRL)· 11 Mar 2026verified |
| Gross profit | 59.6 m | 64.8 m | 63.6 m | 72.2 m | 76.4 m | 77.4 m | SEC (XBRL)· 11 Mar 2026verified |
| Research & development | 251.0 k | — | — | — | — | — | SEC (XBRL)· 31 Mar 2021verified |
| SG&A | 48.2 m | 52.0 m | 57.3 m | 59.0 m | 62.2 m | 62.7 m | SEC (XBRL)· 11 Mar 2026verified |
| Operating income | 11.4 m | 12.8 m | 6.3 m | 13.2 m | 14.1 m | 14.7 m | SEC (XBRL)· 11 Mar 2026verified |
| Depreciation & amortisation | 3.8 m | 4.0 m | 4.6 m | 5.0 m | 6.1 m | 6.3 m | SEC (XBRL)· 11 Mar 2026verified |
| EBITDA | 15.3 m ≈ | 16.8 m ≈ | 10.9 m ≈ | 18.2 m ≈ | 20.2 m ≈ | 21.1 m ≈ | SEC (XBRL)· 11 Mar 2026derived |
| Interest expense | 944.4 k | 922.0 k | 2.4 m | 3.1 m | 2.1 m | 1.7 m | SEC (XBRL)· 11 Mar 2026verified |
| Pre-tax income | 9.8 m | 15.2 m | 3.7 m | 22.7 m | 12.3 m | 13.1 m | SEC (XBRL)· 11 Mar 2026verified |
| Income tax | 1.7 m | 1.5 m | 627.7 k | 4.9 m | 2.3 m | 2.9 m | SEC (XBRL)· 11 Mar 2026verified |
| Net income | 8.1 m | 13.7 m | 3.0 m | 17.8 m | 10.0 m | 10.2 m | SEC (XBRL)· 11 Mar 2026verified |
| Diluted EPS | 2.31 | 3.45 | 0.82 | 4.86 | 2.45 | 2.49 | SEC (XBRL)· 11 Mar 2026verified |
| Weighted average diluted shares | 3.5 m | 4.0 m | 3.7 m | 3.7 m | 4.1 m | 4.1 m | SEC (XBRL)· 11 Mar 2026verified |
| Dividend per share | — | — | — | — | 0.60 | 0.63 | SEC (XBRL)· 11 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 4.2 m | 4.8 m | 6.1 m | 4.8 m | 6.4 m | 3.6 m | SEC (XBRL)· 06 May 2026verified |
| Receivables | 27.2 m | 34.2 m | 32.6 m | 26.2 m | 28.2 m | 29.1 m | SEC (XBRL)· 06 May 2026verified |
| Inventories | 50.7 m | 53.6 m | 63.3 m | 55.5 m | 56.3 m | 59.9 m | SEC (XBRL)· 06 May 2026verified |
| Current assets | 83.7 m | 95.3 m | 105.6 m | 92.0 m | 95.5 m | 96.2 m | SEC (XBRL)· 06 May 2026verified |
| Property, plant & equipment, net | 20.2 m | 24.0 m | 26.4 m | 28.0 m | 31.7 m | 38.5 m | SEC (XBRL)· 06 May 2026verified |
| Goodwill | 4.8 m | 4.8 m | 8.2 m | 8.2 m | 9.9 m | 9.9 m | SEC (XBRL)· 06 May 2026verified |
| Intangibles (excl. goodwill) | 18.7 m | 17.2 m | 20.8 m | 19.0 m | 20.3 m | 19.5 m | SEC (XBRL)· 06 May 2026verified |
| Total assets | 129.9 m | 144.4 m | 164.4 m | 149.2 m | 162.2 m | 171.0 m | SEC (XBRL)· 06 May 2026verified |
| Accounts payable | 7.6 m | 9.0 m | 10.5 m | 12.1 m | 9.0 m | 8.1 m | SEC (XBRL)· 06 May 2026verified |
| Long-term debt | 38.8 m | 33.0 m | 49.9 m | 13.1 m | 17.6 m | 11.9 m | SEC (XBRL)· 06 May 2026verified |
| Current liabilities | 20.2 m | 20.3 m | 22.1 m | 26.0 m | 22.9 m | 22.9 m | SEC (XBRL)· 06 May 2026verified |
| Total liabilities | 67.2 m | 67.4 m | 85.3 m | 51.3 m | 55.2 m | 53.4 m | SEC (XBRL)· 06 May 2026verified |
| Equity | 62.7 m † | 77.1 m † | 79.0 m † | 97.9 m † | 107.0 m † | 117.6 m † | SEC (XBRL)· 06 May 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 5.7 m | 5.1 m | 2.9 m | 28.9 m | 12.0 m | 18.2 m | SEC (XBRL)· 11 Mar 2026verified |
| Capex | 2.6 m | 6.4 m | 4.3 m | 4.7 m | 7.1 m | 10.7 m | SEC (XBRL)· 11 Mar 2026verified |
| Free cash flow | 3.2 m ≈ | -1.2 m ≈ | -1.4 m ≈ | 24.2 m ≈ | 4.8 m ≈ | 7.6 m ≈ | SEC (XBRL)· 11 Mar 2026derived |
| Investing cash flow | -14.0 m | -6.4 m | -14.2 m | 7.4 m | -12.9 m | -12.3 m | SEC (XBRL)· 11 Mar 2026verified |
| Financing cash flow | 5.3 m | 2.0 m | 14.3 m | -38.4 m | 2.0 m | -8.9 m | SEC (XBRL)· 11 Mar 2026verified |
| Dividends paid | 1.6 m | 1.8 m | 1.9 m | 2.0 m | 2.2 m | 2.3 m | SEC (XBRL)· 11 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 49 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 271.2 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation37
- Balance sheet66
- Quality49
- Growth52
- Returns48
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 8.28 – 81.10 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)50.65 – 81.10 (Mid 62.36)WACC 8.9% · starting FCFF 16.9 m USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 5.6%
- Peers: EV/EBITDA28.85 – 72.35 (Mid 61.64)6 companies used · median multiple 11.7x · quartiles 5.9x – 13.6xEML, HLMN, LCUT, RECT, SNA, SSD
- Peers: P/E46.84 – 52.81 (Mid 50.72)6 companies used · median multiple 21.3x · quartiles 19.7x – 22.2xCIX, EML, RECT, SNA, SSD, SWK
- Dividend discount (DDM)8.28 – 11.13 (Mid 9.50)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 49/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 8.6% | 33 (vs peers) | 10% |
| Net margin · Quality | 4.6% | 25 (vs peers) | 6% |
| FCF conversion · Quality | 157.7% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | 0.4% | 4 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | 44.8% | 100 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 0.8x | 33 (vs peers) | 10% |
| Interest coverage · Balance sheet | 7.9x | 98 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 3.2x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 29.7x | 13 (vs peers) | 10% |
| EV/EBITDA · Valuation | 13.3x | 33 (vs peers) | 10% |
| FCF yield · Valuation | 5.7% | 71 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 0.9% | 13 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 15.4% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet66/100 · 3/3 factors with a value
- Growth52/100 · 2/2 factors with a value
- Quality49/100 · 3/3 factors with a value
- Returns48/100 · 2/2 factors with a value
- Valuation37/100 · 3/3 factors with a value
Memo
ACME UNITED CORP (ACU). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 196.5 m USD in 2025; YoY growth 1.1%; net margin 4.6%; ROE 8.4%; net debt/EBITDA 0.8x.
The estimated value range is 37.84–62.58 USD per share (median of 4 methods, agreement: high); assumptions are illustrative. Against the central value of 56.18 USD, the price of 70.75 USD leaves a potential of -20.6% (value / price − 1) and a margin of safety of -25.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 49/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 157.7%
- EPS CAGR 3Y: 44.8%
- Interest coverage: 7.9x
- Current ratio: 3.2x
- FCF yield: 5.7%
- Payout ratio (FCF): 15.4%
What contradicts it
- Net margin: 4.6%
- Revenue CAGR 3Y: 0.4%
- P/E (TTM): 29.7x
- Shareholder yield (distributions): 0.9%
- The price is above the estimated value range
Versus the vertical median
Cutlery, Handtools & General Hardware (SIC 3420) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SNASnap-on Inc | 19.0 bn | 19.2 | 17.0% | 19.2% | unavailable | +8% / +34% |
| SWKStanley Black & Decker, Inc. | 17.6 bn | 21.2 | 9.4% | 5.5% | unavailable | +65% / +30% |
| SSDSimpson Manufacturing Co., Inc. | 8.4 bn | 22.4 | 18.7% | 15.6% | +4.5% | +23% / +23% |
| HLMNHillman Solutions Corp. | 1.7 bn | 68.6 | 2.0% | 1.5% | +5.4% | +0% / +20% |
| CIXCompx International Inc | 457.6 m | 23.1 | 16.3% | 14.0% | +8.5% | +65% / +58% |
| ACUAcme United Corp | 271.2 m | 29.7 | 8.4% | 4.6% | +1.1% | +88% / +114% |
| LCUTLifetime Brands, Inc. | 204.4 m | 6.2 | 15.8% | 4.8% | −5.1% | +133% / +38% |
| EMLThe Eastern Company | 173.4 m | 21.4 | 6.3% | 3.4% | unavailable | +48% / +59% |
| RECTRectitude Holdings Ltd | 18.4 m | 6.7 | 13.9% | 7.0% | +22.0% | −37% / unavailable |
1- and 3-year price returns: for ACU from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 43.14 Total return -38% · Per year -38% | 76.43 Total return 9% · Per year 9% | 115.34 Total return 64% · Per year 64% |
| 3 years | 38.53 Total return -43% · Per year -17% | 77.11 Total return 12% · Per year 4% | 128.23 Total return 85% · Per year 23% |
| 5 years | 34.40 Total return -48% · Per year -12% | 77.79 Total return 15% · Per year 3% | 142.56 Total return 108% · Per year 16% |
- Exit P/E± 19.28
- Net margin± 13.49
- Annual revenue growth± 11.52
- Annual dilution± 1.13
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).
In brief
Acme United Corporation is an international supplier of first aid, medical and cutting products sold to schools, offices, retail and industry. With revenue of 196.5 million USD in 2025 and a record second quarter in 2026, the company has relied on acquisitions such as My Medic, while tariffs continue to pressure its margins 13.
SWOT
Strengths
- A diversified portfolio of established brands, with a high share of first aid products and a long history of growth 1.
- Lower bank debt and a renewed credit line give flexibility for acquisitions and investment 13.
- In-house U.S. production for certain medical products reduces dependence on external suppliers 1.
Weaknesses
Opportunities
- Integrating My Medic and expanding direct-to-consumer sales could add revenue and profit, especially in the fourth quarter 3.
- The German and Canadian acquisitions show a growth-through-acquisition model that could be repeated if suitable targets appear 13.
- Growing demand for workplace safety solutions and high-quality sharpening products could support long-term sales 1.
Risks
- Dependence on large customershigh
Losing one of the large customers could reduce sales and profit 1.
- Tariffs and trade policyhigh
Changes in tariffs could alter the cost of products imported from Asia, and the company says the effects are hard to predict 13.
- Acquisition integrationmedium
If the My Medic integration does not proceed efficiently, expected synergies and cost savings could be delayed 13.
- Seasonalitymedium
A weak back-to-school season could materially affect cash flow 1.
- Inventory managementlow
Sudden shifts in demand could lead to inventory write-downs, although the company says it has not had material write-downs historically 1.
Investment thesis
What would need to be true (bull case)
- Sales growth in the second quarter of 2026 and expansion in Europe and Canada show a growth pattern that could continue if demand stays solid 23.
- If My Medic reaches its profitability potential in the fourth season, profit could rise significantly above current levels 3.
- The renewed credit line and lower debt could allow further acquisitions without major financial strain 3.
What would break the thesis
- Margins could stay under pressure if high tariffs keep flowing into the cost of goods sold 23.
- Sales growth in the first half partly depends on the My Medic acquisition; without it, growth would have been lower 2.
- Net income for the first half declined, and if the trend persists the company could have fewer resources for investment 3.
What to watch
- Gross margin trend and the effect of tariffsQ3 2026
- My Medic contribution to profitability in the fourth seasonQ4 2026
- US and China tariff decisions2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).
The business
Acme United is a worldwide supplier of first aid and medical products, as well as cutting technology, for the school, home, office, hardware, sporting goods and industrial markets 1. Its main products are first aid kits, scissors, knives and sharpening tools. The company operates in the United States, Canada, Europe (Germany) and Asia (Hong Kong and China), and most products are sourced from suppliers in Asia 1. Sales go mainly to mass market and e-commerce retailers, industrial distributors and office and hardware chains 1. The acquisition of My Medic's assets, closed on January 15, 2026, added a direct-to-consumer channel 13.
The sales mix has shifted over time: first aid and medical products account for approximately 66% of total sales, broadening the customer and revenue base 1. The company runs assembly and manufacturing sites in Vancouver, Rocky Mount, Keene and Laval, plus specialised plants for Spill Magic, DMT and Med-Nap 1. Two customers each accounted for about 13% of consolidated net sales in 2025 1.
Financially, the company has reduced its bank debt, and its 65 million USD credit line was renewed in July 2026 until 2029 3. Capital spending in 2025 included the purchase of a facility in Tennessee for Spill Magic and automation in factories 1.
Segments
Market context
The first aid and workplace safety market is regulated by the FDA for many products, and Acme United competes with Honeywell and Cintas in this area; in cutting, the main competitors are 3M and Fiskars 1. The market remains sensitive to consumer and business spending cycles, as school and office sales were hit in 2025 by tariff-related order cancellations 1.
The direct-to-consumer and e-commerce channel is growing as a share of sales, but it requires higher advertising spend, which reduced operating margin in the first half of 2026 2.
Trends
- Tariffsheadwind
US tariffs on imports from China and other countries have raised costs for school and office products, and the company says the effect on margins will persist, though at a decreasing rate 13.
- Cost inflationheadwind
Higher wages, transport costs and raw material prices could reduce margins if they cannot be passed on to customers 1.
- Growing demand for first aid productstailwind
Demand for first aid and medical products keeps growing, and sales in Canada and the U.S. have benefited from this trend 13.
- E-commerce and direct salesmixed
Growth in online and direct-to-consumer sales could support expansion, but it requires investment in marketing and logistics 23.
Competitive position
In first aid and safety, the main competitors named in the annual report are Honeywell and Cintas, while in cutting they are 3M and Fiskars Corporation 1. Competition turns on innovation, quality, price, design and delivery capability 1.
Competitive strengths include the established Westcott and Clauss brands, U.S. manufacturing for Med-Nap and a diversified portfolio; weaknesses relate to reliance on Asian suppliers and tariffs 1.
- HoneywellHON
Named as a competitor in first aid and safety in the annual report.
- CintasCTAS
Named as a competitor in first aid and safety in the annual report.
- 3MMMM
Named as a competitor in cutting in the annual report.
- Fiskars Corporation
Named as a competitor in cutting in the annual report; not US-listed.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report27 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report23 Jul 2026Results of operations · Financial statements and exhibits
- Current report21 Jul 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report28 Apr 2026Shareholder vote
- Current report23 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement27 Mar 2026
- Annual report11 Mar 2026
- Current report26 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Acme United Corporation · 11 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Acme United Corporation · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Acme United Corporation · 23 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.