Masco Corporation

MAS · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$13,180	$15,657	$15,037	$10,525	$17,140	$13,408	$11,714	$7,137	$13,822	$10,381	$9,522	$7,734	$6,997	$5,036	$3,204	$3,880	$4,261	$3,449	$7,011	$10,346	$11,200	$14,293	$11,494	$10,206	$11,556	$9,971	$9,701	$10,989	$9,457	$5,079	$4,397	$3,160	$4,996	$3,908	$3,092	$2,272	$3,419	$3,061	$2,507	$3,325	$2,275
Enterprise value	$16,230	$18,464	$17,878	$13,736	$19,618	$15,291	$14,169	$9,744	$15,841	$12,382	$11,406	$9,677	$9,108	$7,525	$5,788	$6,751	$7,004	$6,567	$10,177	$13,367	$13,983	$17,304	$14,881	$13,777	$15,001	$13,030	$11,963	$12,395	$10,406	$5,850	$5,939	$4,739	$6,328	$5,445	$4,531	$3,755	$4,698	$3,968	$3,382	$3,935	$2,607
P/E (TTM) at period end	16.27×	19.05×	16.56×	12.50×	42.22×	11.04×	12.61×	9.82×	26.18×	21.32×	27.21×	9.22×	24.81×	–	–	–	–	–	18.16×	21.07×	12.93×	15.06×	14.26×	17.31×	58.22×	16.85×	17.03×	23.09×	24.73×	17.21×	–	16.31×	22.60×	21.34×	68.87×	16.37×	15.48×	10.62×	11.46×	16.35×	13.83×
P/S (TTM) at period end	1.74×	2.00×	1.89×	1.21×	2.05×	1.87×	1.75×	1.07×	1.81×	1.41×	1.33×	1.10×	1.03×	0.67×	0.45×	0.54×	0.56×	0.36×	0.61×	0.81×	0.89×	1.18×	1.05×	1.08×	1.38×	1.38×	1.54×	2.53×	2.52×	1.57×	1.50×	0.71×	1.29×	1.11×	0.98×	0.71×	1.09×	1.26×	1.24×	2.29×	1.97×
P/B at period end	–	–	–	–	–	68.76×	–	–	–	–	–	8.37×	12.52×	15.64×	6.08×	2.80×	1.62×	1.22×	1.74×	2.31×	2.31×	2.64×	2.11×	1.93×	2.80×	2.91×	3.09×	3.96×	4.24×	2.76×	2.66×	1.50×	2.50×	2.07×	1.72×	1.28×	1.84×	1.98×	1.83×	2.87×	2.32×
EV / EBITDA (TTM)	11.63×	12.20×	11.94×	9.53×	12.61×	10.71×	11.36×	7.90×	13.70×	10.14×	10.89×	10.90×	11.41×	14.58×	120.59×	–	22.24×	20.39×	7.77×	7.86×	7.47×	9.06×	8.79×	9.26×	11.46×	10.06×	10.94×	12.12×	12.43×	10.08×	12.06×	7.52×	12.17×	11.51×	12.91×	8.23×	9.51×	–	–	–	–
EV / Sales (TTM)	2.15×	2.36×	2.24×	1.58×	2.34×	2.13×	2.11×	1.46×	2.07×	1.68×	1.60×	1.38×	1.35×	1.00×	0.81×	0.94×	0.91×	0.69×	0.89×	1.05×	1.11×	1.43×	1.36×	1.46×	1.79×	1.80×	1.90×	2.85×	2.77×	1.81×	2.03×	1.06×	1.63×	1.54×	1.44×	1.17×	1.49×	1.63×	1.67×	2.71×	2.26×
Returns
Return on equity	–	–	–	–	–	623.1%	–	–	–	–	–	90.8%	50.4%	(36.0%)	(109.7%)	(75.6%)	(7.1%)	(14.1%)	9.6%	11.0%	17.9%	17.5%	14.8%	11.1%	4.8%	17.3%	18.2%	17.2%	17.2%	16.0%	(26.7%)	9.2%	11.1%	9.7%	2.5%	7.8%	11.9%	18.6%	16.0%	17.6%	16.8%
Return on invested capital	32.9%	40.6%	38.5%	36.0%	42.5%	47.5%	36.7%	32.6%	32.7%	36.6%	26.3%	22.7%	15.9%	–	(5.6%)	(11.0%)	0.9%	1.5%	8.9%	10.4%	13.5%	12.5%	10.1%	9.5%	9.1%	10.8%	10.6%	13.1%	13.5%	10.8%	7.2%	8.3%	7.4%	6.3%	3.5%	6.6%	8.7%	11.1%	10.4%	9.2%	9.3%
Dividend yield	2.0%	1.6%	1.7%	2.5%	1.2%	1.1%	1.2%	1.9%	0.9%	1.2%	1.3%	1.5%	1.5%	2.1%	3.3%	2.8%	3.9%	9.7%	4.9%	3.4%	3.0%	2.1%	2.5%	2.6%	2.1%	2.2%	1.7%	1.3%	1.4%	2.4%	2.6%	3.4%	2.0%	2.4%	2.8%	3.6%	2.2%	–	–	–	–
Financial health
Current ratio	1.81×	1.75×	1.68×	1.56×	1.76×	1.80×	1.75×	1.64×	1.96×	2.01×	1.38×	1.64×	2.06×	1.73×	1.45×	2.33×	1.94×	2.13×	2.00×	1.51×	1.77×	2.05×	1.81×	2.04×	2.12×	2.14×	2.49×	2.20×	2.62×	2.76×	2.16×	3.15×	3.35×	2.98×	2.68×	2.47×	2.58×	3.01×	2.29×	3.75×	4.55×
Debt / equity	(15.93×)	(10.57×)	(23.40×)	(6.56×)	(16.53×)	14.33×	(11.80×)	(26.84×)	(58.21×)	(10.06×)	(25.24×)	3.71×	6.13×	11.27×	7.64×	2.96×	1.51×	1.41×	1.02×	1.11×	0.98×	0.79×	0.77×	0.88×	0.91×	0.94×	0.80×	0.59×	0.62×	0.68×	0.97×	0.78×	0.73×	0.84×	0.83×	0.86×	0.71×	0.68×	0.86×	0.71×	0.66×
Effective tax rate	24.4%	24.7%	22.5%	24.1%	30.5%	23.8%	25.2%	24.4%	34.1%	35.6%	42.5%	(71.2%)	22.3%	124.7%	10.2%	(32.3%)	32.4%	(69.4%)	38.5%	45.8%	36.7%	37.2%	38.1%	33.8%	34.0%	33.8%	37.0%	37.0%	39.4%	41.3%	43.1%	40.0%	39.0%	39.9%	54.0%	41.2%	32.5%	31.6%	34.6%	38.5%	38.8%
Share count
Diluted shares outstanding	210	219	226	232	251	264	288	307	318	330	341	352	352	349	348	349	351	353	373	400	430	456	488	584	567	452	445	435	423	321	319	318	316	300	299	302	311	275	264	261	257

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$7,620	$7,562	$7,828	$7,967	$8,680	$8,375	$7,188	$6,707	$6,654	$7,644	$7,357	$7,142	$7,006	$6,761	$7,495	$7,170	$7,183	$7,657	$9,484	$11,413	$12,778	$12,642	$12,074	$10,936	$9,419	$8,358	$7,243	$6,307	$4,345	$3,760	$3,237	$2,927	$4,468	$3,886	$3,525	$3,141	$3,209	$3,150	$2,439	$2,023	$1,452	$1,154
Cost of revenue	($4,804)	($4,883)	($4,997)	($5,131)	($5,967)	($5,512)	($4,601)	($4,336)	($4,327)	($3,794)	($4,899)	($4,889)	($4,946)	($4,802)	($5,539)	($5,383)	($5,381)	($5,647)	($7,125)	($8,280)	($9,314)	–	–	($7,586)	($6,451)	($5,807)	($4,726)	($3,859)	($2,686)	($2,281)	($1,960)	($1,756)	($2,881)	($2,506)	($2,266)	($2,104)	($2,116)	($2,086)	($1,514)	($1,244)	($886)	($710)
Gross profit	$2,816	$2,679	$2,831	$2,836	$2,713	$2,863	$2,587	$2,371	$2,327	$2,220	$2,462	$2,253	$2,060	$1,959	$1,956	$1,787	$1,802	$2,010	$2,359	$3,133	$3,464	–	–	$3,350	$2,969	$2,551	$2,517	$2,448	$1,659	$1,479	$1,276	$1,171	$1,587	$1,380	$1,258	$1,037	$1,093	$1,065	$924	$779	$566	$444
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($1,473)	($1,426)	($1,468)	($1,473)	($1,390)	($1,413)	($1,292)	($1,274)	($1,250)	($1,191)	($1,375)	($1,339)	($1,347)	($1,347)	($1,535)	($1,543)	($1,570)	($1,678)	($1,802)	($1,953)	($2,008)	($1,954)	($1,989)	($1,754)	($1,393)	($1,418)	($1,222)	($1,355)	($1,037)	($958)	($696)	($678)	($957)	($860)	($785)	($686)	($637)	($571)	($454)	($360)	($259)	($210)
Total operating expenses	($1,480)	($1,431)	($1,468)	($1,488)	($1,416)	($1,458)	($1,292)	($1,283)	($1,250)	($1,191)	($1,375)	($1,339)	($1,339)	($1,347)	($1,654)	($2,002)	($2,268)	($1,940)	($2,269)	($2,072)	($2,008)	–	–	($1,901)	($1,702)	($1,511)	($1,460)	($1,536)	($792)	($773)	($796)	($768)	($1,077)	($976)	($900)	($789)	($730)	($660)	($528)	($423)	($302)	($245)
Total costs and expenses	($6,284)	($6,314)	($6,465)	($6,619)	($7,383)	($6,970)	($5,893)	($5,619)	($5,577)	($6,615)	($6,270)	($6,228)	($6,285)	($6,149)	($7,193)	($7,385)	($7,649)	($7,587)	($9,394)	($10,352)	($11,322)	($11,012)	($10,400)	($9,487)	($8,152)	($7,318)	($6,186)	($5,396)	($3,479)	($3,054)	($2,756)	($2,525)	($3,958)	($3,482)	($3,166)	($2,893)	($2,846)	($2,746)	($2,042)	($1,667)	($1,188)	($954)
Operating income	$1,336	$1,248	$1,363	$1,348	$1,297	$1,405	$1,295	$1,088	$1,077	$1,029	$1,087	$914	$721	$612	$302	($215)	($466)	$70	$90	$1,061	$1,456	$1,630	$1,674	$1,449	$1,267	$1,040	$1,057	$912	$866	$706	$480	$402	$510	$404	$359	$248	$363	$405	$396	$356	$264	$200
Earnings
EBITDA	$1,489	$1,396	$1,513	$1,497	$1,442	$1,556	$1,428	$1,247	$1,233	$1,156	$1,221	$1,047	$888	$798	$516	$48	($205)	$315	$322	$1,309	$1,700	$1,871	$1,911	$1,693	$1,487	$1,309	$1,295	$1,093	$1,023	$837	$580	$492	$630	$520	$473	$351	$456	$494	–	–	–	–
Interest income	–	–	–	$9	$2	$1	$3	$3	$5	$3	$4	$3	$1	$2	$1	$1	$1	$3	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($103)	($101)	($99)	($106)	($108)	($278)	($144)	($159)	($156)	($279)	($229)	($225)	($225)	($235)	($254)	($254)	($251)	($225)	($228)	($258)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,234	$1,135	$1,161	$1,238	$1,193	$688	$1,131	$914	$907	$718	$832	$689	$507	$386	$73	($392)	($745)	($136)	($193)	$876	$900	$1,402	$1,542	$1,216	$1,031	$301	$893	$904	$755	$631	$503	$352	$323	$363	$305	$98	$236	$327	$421	$334	$331	$269
Income tax expense	($297)	($277)	($287)	($278)	($288)	($210)	($269)	($230)	($221)	($245)	($296)	($293)	$361	($86)	($91)	$40	($241)	$44	($134)	($337)	($412)	($514)	($574)	($463)	($349)	($102)	($302)	($334)	($279)	($248)	($208)	($152)	($129)	($142)	($122)	($53)	($97)	($106)	($133)	($116)	($128)	($104)
Net income	$885	$810	$822	$908	$844	$410	$1,224	$935	$734	$533	$493	$355	$856	$288	($114)	($575)	($1,043)	($183)	($391)	$386	$491	$866	$949	$806	$590	$198	$592	$570	$476	$382	$295	($442)	$194	$221	$183	$45	$139	$221	$288	$219	$203	$164
Per share
Diluted EPS (GAAP)	$4.35	$3.86	$3.76	$4.02	$3.63	$1.62	$4.59	$3.22	$2.37	$1.66	$1.48	$1.02	$2.38	$0.80	($0.33)	($1.66)	($3.00)	($0.53)	($1.13)	$1.02	$1.22	$2.19	$1.96	$1.65	$1.01	$0.35	$1.31	$1.28	$1.26	$1.02	$0.92	($1.39)	$0.61	$0.70	$0.61	$0.15	$0.46	$0.71	$1.05	$0.83	$0.78	$0.64
Basic EPS (GAAP)	$4.36	$3.87	$3.77	$4.03	$3.65	$1.63	$4.60	$3.24	$2.38	$1.68	$1.49	$1.03	$2.40	$0.80	($0.33)	($1.66)	($3.00)	($0.53)	($1.13)	$1.02	$1.23	$2.23	$2.01	$1.69	$1.07	$0.37	$1.34	$1.31	$1.30	$1.05	$0.92	($1.39)	$0.61	$0.72	$0.61	$0.15	$0.46	$0.71	$1.05	$0.83	$0.78	$0.64
Basic shares outstanding	205	209	218	225	231	249	264	287	305	314	326	338	349	350	349	348	349	351	353	369	394	422	445	477	551	536	442	435	435	423	321	319	318	307	300	299	302	311	275	264	261	257
Margins
Gross margin	37.0%	35.4%	36.2%	35.6%	31.3%	34.2%	36.0%	35.4%	35.0%	29.0%	33.5%	31.5%	29.4%	29.0%	26.1%	24.9%	25.1%	26.3%	24.9%	27.5%	27.1%	–	–	30.6%	31.5%	30.5%	34.8%	38.8%	38.2%	39.3%	39.4%	40.0%	35.5%	35.5%	35.7%	33.0%	34.1%	33.8%	37.9%	38.5%	39.0%	38.5%
Operating margin	17.5%	16.5%	17.4%	16.9%	14.9%	16.8%	18.0%	16.2%	16.2%	13.5%	14.8%	12.8%	10.3%	9.1%	4.0%	(3.0%)	(6.5%)	0.9%	0.9%	9.3%	11.4%	12.9%	13.9%	13.2%	13.5%	12.4%	14.6%	14.5%	19.9%	18.8%	14.8%	13.7%	11.4%	10.4%	10.2%	7.9%	11.3%	12.9%	16.2%	17.6%	18.2%	17.3%
Net margin	11.6%	10.7%	10.5%	11.4%	9.7%	4.9%	17.0%	13.9%	11.0%	7.0%	6.7%	5.0%	12.2%	4.3%	(1.5%)	(8.0%)	(14.5%)	(2.4%)	(4.1%)	3.4%	3.8%	6.9%	7.9%	7.4%	6.3%	2.4%	8.2%	9.0%	11.0%	10.2%	9.1%	(15.1%)	4.3%	5.7%	5.2%	1.4%	4.3%	7.0%	11.8%	10.8%	14.0%	14.3%

Analyst consensus

Buy38 analysts

Bearish · 2 · Hold · 16 · Bullish · 20

Earnings history

	EPS	Estimate
Q3 2024	$1.08	$1.08	Match
Q4 2024	$0.89	$0.88	Beat
Q1 2025	$0.87	$0.92	Miss
Q2 2025	$1.30	$1.09	Beat
Q3 2025	$0.97	$1.02	Miss
Q4 2025	$0.82	$0.78	Beat
Q1 2026	$1.04	$0.88	Beat
Q2 2026	$1.64	$1.32	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEOJonathon J. Nudi

Employees18,000

SectorBasic Materials

IndustryConstruction Materials

CountryUS

ExchangeNew York Stock Exchange

Websitemasco.com

Masco Corporation is a prominent global manufacturer and distributor of home improvement and building products, serving markets across North America, Europe, and other international regions. The company operates through two main segments. Its Plumbing Products division offers a vast array of items, from fixtures like faucets, showerheads, and valves to comprehensive bathing solutions such as tubs, shower bases, sinks, and toilets. This segment also provides high-end offerings like spas, exercise pools, and fitness systems, alongside crucial plumbing system components made from brass, copper, and composites, as well as connected water technologies, thermoplastic solutions, and PEX tubing. These products are sold under numerous recognized brands, including DELTA, HANSGROHE, KRAUS, HOT SPRING, and ENDLESS POOLS. The Decorative Architectural Products segment enhances both the aesthetic and functional aspects of homes. Its portfolio includes various paints, primers, specialty coatings, stains, and waterproofing products, along with associated applicators. It also supplies diverse cabinet and door hardware, functional hardware, wall plates, closet organization systems, and picture hanging accessories. Additionally, this segment provides decorative bath hardware, mirrors, shower doors, and a wide selection of indoor and outdoor lighting fixtures, such as ceiling fans, landscape lighting, and LED systems. Key brands in this segment include BEHR, KILZ, LIBERTY, and KICHLER. Masco distributes its extensive product range through a broad network of channels, encompassing plumbing, heating, and hardware wholesalers; home centers and online retailers; independent hardware stores; electrical and landscape distributors; lighting showrooms; building supply outlets; and various mass merchandisers. Masco Corporation was founded in 1929 and is headquartered in Livonia, Michigan.

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