Is WD-40 really as miraculous as claimed online?

Let’s start with a little-known fact: WD-40 is actually an umbrella brand comprising multiple product lines—each with distinct formulations and intended uses!!! As far as I know, there are at least six variants (though there may be more—I haven’t checked the official website; curious readers are welcome to look it up): WD-40 Classic Blue Can (Multi-Use Protective Product); WD-40 Multi-Use Product—Penetrating Lubricant (Rust Release); WD-40 Specialist White Lithium Grease; WD-40 Specialist Silicone Lubricant; WD-40 Specialist Dry-Film PTFE Lubricant; WD-40 Specialist Electronic Contact Cleaner. The most widely recognized version is the 'WD-40 Classic Blue Can (Multi-Use Protective Product)', which is also the one most commonly discussed today. However, it is far less extraordinary or magical than popular descriptions suggest. It’s best described as a versatile generalist—capable of handling many tasks, yet excelling at none. Also, I must warn you: Most WD-40 products—or their imitations and budget alternatives—share a significant drawback: mild corrosiveness! While this poses no notable risk to human health and causes minimal issues for large metal components, it *can* damage items containing rubber seals, plastic-metal hybrids, coated surfaces, or precision electronic devices. Crucially, such damage does not occur immediately—it unfolds gradually over days or even weeks. So while you’re celebrating WD-40’s apparent success in solving your surface-level problem, it may already be silently corroding internal components—especially rubber, plastic, coatings, or delicate electronics.

How does a legend get built? WD-40—the ‘universal lubricant’—exemplifies both the glory and challenges of a blockbuster consumer product.

First, revenue in the Americas rose 16% year-on-year, driven primarily by growth in maintenance product sales in the U.S. (+21% YoY). This growth was largely attributable to higher selling prices. However, lower unit sales partially offset the revenue gains from price increases. In Latin America, maintenance product revenue increased 18% year-on-year. The main driver was wholesale customers increasing inventory purchases in anticipation of future price hikes. Additionally, the company’s direct operations in Mexico posted revenue growth, fueled by two factors: rising product prices and favorable foreign exchange effects due to the strengthening U.S. dollar. Although oil industry activity in Western Canada improved compared to last year—and industrial demand for the company’s products consequently rose—the overall weakening of Canadian market demand led to a 23% year-on-year decline in maintenance product revenue. Revenue in the Asia-Pacific region surged 42% year-on-year, propelled mainly by a 151% YoY increase in revenue from Asian distributors and a 39% YoY rise in maintenance product revenue from China. Recent price increases also contributed positively to growth in both areas. For fiscal year 2023, the company’s net income declined slightly by 1.98% year-on-year—primarily dragged down by a sharp 24.56% drop in Q1 net income. The main reasons were: (1) adverse foreign exchange movements; (2) reduced customer order volumes; and (3) the company’s suspension of sales to distributors in Russia and Belarus. However, Q3 revenue rose year-on-year, and gross margin edged up modestly—from 47.7% to 50.6%—resulting in a 30.49% YoY increase in Q3 net income, which largely offset the steep Q1 decline. The WD-40 Company epitomizes the ‘one-trick pony’ success story—its flagship product *is* WD-40. For decades, the company has guarded its formula as a closely held trade secret. Since its launch 70 years ago, it has deliberately avoided patenting the product to prevent disclosure of its ingredients. The WD-40 Company was founded on September 23, 1953, originally named Rocket Chemical Company, by Norman Larsen, Gordon Dawson, and John Gregory. Its initial product focus was rust inhibitors and degreasers for the aerospace industry. WD-40 itself emerged only after the company tested 40 different formulations. In the lab notebook, this successful formulation was labeled ‘Water Displacement, 40th attempt’—abbreviated as WD-40—and the name stuck as the product’s official title. The company first entered the consumer market in San Diego, California, in 1958. But it wasn’t until 1969—when John Barry became President and CEO—that the company officially changed its name to WD-40 Company, aligning its corporate identity with its signature product. Barry remarked: ‘Since we’re no longer in the rocket business, we shouldn’t call ourselves Rocket Chemical Company.’

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