Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

<div><ul><li>We toured a Home Depot (HD) store in Atlanta with SVP of US Sales Dan Hudson, who joined WDFC in January 2025.</li><li>We came away with a better understanding of how creative merchandising techniques at big-box retailers are contributing to strong sales growth in a mature market like the US.</li><li>HD is one of WDFC’s most important home improvement channel accounts in the Americas. It typically carries the broadest assortment, including the core Multi-Use Product (MUP) in multiple sizes as well as WD-40 Specialist and EZ-REACH. HD has an entrepreneurial spirit, with dedicated merchandising teams that have a willingness to try new things, so there are many opportunities for off-shelf placement, which can drive incremental sales.</li></ul></div>

We toured a Home Depot (HD) store in Atlanta with SVP of US Sales Dan Hudson, who joined WDFC in January 2025.We came away with a better understanding of how creative merchandising techniques at big-box retailers are contributing to strong sales growth in a mature market like the US.HD is one of WDFC’s most important home improvement channel accounts in the Americas. It typically carries the broadest assortment, including the core Multi-Use Product (MUP) in multiple sizes as well as WD-40 Specialist and EZ-REACH. HD has an entrepreneurial spirit, with dedicated merchandising teams that have a willingness to try new things, so there are many opportunities for off-shelf placement, which can drive incremental sales.

WDFC: Store Tour - Driving Growth in US Big-Box Retailers

WD-40 Company

WDFC: Store Tour - Driving Growth in US Big-Box Retailers