Masco Corporation (MAS) 10-Year Financial Performance & Capital Metrics

MAS • • Industrial / General

IndustrialsConstructionBuilding Materials & ComponentsWindows & Doors

AboutMasco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products. This segment provides its products under the DELTA, BRIZO, PEERLESS, HANSGROHE, AXOR, KRAUS, EASY DRAIN, STEAMIST, ELITESTEAM, GINGER, NEWPORT BRASS, BRASSTECH, WALTEC, BRISTAN, HERITAGE, MIROLIN, HOT SPRING, CALDERA, FREEFLOW SPAS, FANTASY SPAS, ENDLESS POOLS, BRASSCRAFT, PLUMB SHOP, COBRA, COBRA PRO, and MASTER PLUMBER brands. Its Decorative Architectural Products segment offers paints, primers, specialty coatings, stains, and waterproofing products, as well as paint applicators and accessories; cabinet and door hardware, functional hardware, wall plates, hook and rail products, closet organization systems, and picture hanging accessories; decorative bath hardware, mirrors, and shower accessories and doors; and decorative indoor and outdoor lighting fixtures, ceiling fans, landscape lighting, and LED lighting systems. This segment provides its products under the BEHR, KILZ, WHIZZ, Elder & Jenks, LIBERTY, BRAINERD, FRANKLIN BRASS, KICHLER, and ÉLAN brands. It sells its products to the plumbing, heating, and hardware wholesalers; home centers and online retailers; hardware stores; electrical and landscape distributors; lighting showrooms; building supply outlets; and other mass merchandisers. Masco Corporation was incorporated in 1929 and is headquartered in Livonia, Michigan.Show more

Revenue $7.83B -1.7%
EBITDA $1.51B +1.1%
Net Income $822M -9.5%
EPS (Diluted) 3.76 -6.5%
Gross Margin 36.17% +1.6%
EBITDA Margin 19.33% +2.9%
Operating Margin 17.41% +2.9%
Net Margin 10.5% -7.9%
ROE 2609.52% +233.4%
ROIC 38.87% +5.4%
Debt/Equity -
Interest Coverage 13.77 +8.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 1696.1%
✓Strong Piotroski F-Score: 7/9
✓11 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 3.1% through buybacks
✓Healthy 5Y average net margin of 10.7%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-0.84%

5Y3.14%

3Y-2.23%

TTM-3.62%

Profit (Net Income) CAGR

10Y-0.4%

5Y3.74%

3Y26.3%

TTM-0.48%

EPS CAGR

10Y4.68%

5Y11.31%

3Y32.4%

TTM3.72%

ROCE

10Y Avg32.76%

5Y Avg37.46%

3Y Avg38.13%

Latest38.27%

Peer Comparison

Windows & Doors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NXQuanex Building Products Corporation	848.18M	18.57	20.63	13.03%	-13.65%	-34.54%	6.1%	0.88
MASMasco Corporation	14.79B	71.21	18.94	-1.74%	10.89%	492.26%	6.13%
FBINFortune Brands Innovations, Inc.	7.36B	61.29	16.34	-0.37%	7.3%	13.77%	6.44%	1.17
JELDJELD-WEN Holding, Inc.	271.67M	3.18	-1.43	-12.28%	-19.6%	-5.68%		2.13
ILAGIntelligent Living Application Group Inc.	7.06M	3.40	-17	16.5%	-51.55%	-56.91%		0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	7.14B	7.36B	7.64B	6.65B	6.71B	7.19B	8.38B	8.68B	7.97B	7.83B
Revenue Growth %	-0.16%	0.03%	0.04%	-0.13%	0.01%	0.07%	0.17%	0.04%	-0.08%	-0.02%
Cost of Goods Sold+	4.89B	4.9B	5.03B	4.29B	4.34B	4.6B	5.51B	5.97B	5.13B	5B
COGS % of Revenue	0.68%	0.67%	0.66%	0.64%	0.65%	0.64%	0.66%	0.69%	0.64%	0.64%
Gross Profit+	2.25B	2.46B	2.61B	2.37B	2.37B	2.59B	2.86B	2.71B	2.84B	2.83B
Gross Margin %	0.32%	0.33%	0.34%	0.36%	0.35%	0.36%	0.34%	0.31%	0.36%	0.36%
Gross Profit Growth %	-0.06%	0.09%	0.06%	-0.09%	0%	0.09%	0.11%	-0.05%	0.05%	-0%
Operating Expenses+	1.34B	1.38B	1.19B	1.29B	1.28B	1.29B	1.46B	1.42B	1.49B	1.47B
OpEx % of Revenue	0.19%	0.19%	0.16%	0.19%	0.19%	0.18%	0.17%	0.16%	0.19%	0.19%
Selling, General & Admin	1.34B	1.41B	1.22B	1.26B	1.29B	1.33B	1.84B	1.39B	1.47B	1.47B
SG&A % of Revenue	0.19%	0.19%	0.16%	0.19%	0.19%	0.18%	0.22%	0.16%	0.18%	0.19%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-32M	-26M	26M	-12M	-35M	-385M	26M	15M	0
Operating Income+	914M	1.09B	1.03B	1.08B	1.09B	1.29B	1.41B	1.3B	1.35B	1.36B
Operating Margin %	0.13%	0.15%	0.13%	0.16%	0.16%	0.18%	0.17%	0.15%	0.17%	0.17%
Operating Income Growth %	0.27%	0.19%	-0.05%	0.05%	0.01%	0.19%	0.08%	-0.08%	0.04%	0.01%
EBITDA+	1.05B	1.22B	1.16B	1.2B	1.25B	1.43B	1.56B	1.44B	1.5B	1.51B
EBITDA Margin %	0.15%	0.17%	0.15%	0.18%	0.19%	0.2%	0.19%	0.17%	0.19%	0.19%
EBITDA Growth %	0.18%	0.17%	-0.05%	0.04%	0.04%	0.15%	0.09%	-0.07%	0.04%	0.01%
D&A (Non-Cash Add-back)	133M	134M	127M	120M	159M	133M	151M	145M	149M	150M
EBIT	914M	1.06B	997M	1.1B	1.07B	1.27B	966M	1.3B	1.34B	1.26B
Net Interest Income+	-222M	-225M	-275M	-151M	-156M	-141M	-277M	-106M	-97M	-99M
Interest Income	3M	4M	3M	5M	3M	3M	1M	2M	9M	0
Interest Expense	225M	229M	278M	156M	159M	144M	278M	108M	106M	99M
Other Income/Expense	-225M	-255M	-311M	-170M	-174M	-164M	-717M	-104M	-110M	-202M
Pretax Income+	689M	830M	885M	907M	914M	1.13B	688M	1.19B	1.24B	1.16B
Pretax Margin %	0.1%	0.11%	0.12%	0.14%	0.14%	0.16%	0.08%	0.14%	0.16%	0.15%
Income Tax+	293M	296M	305M	221M	230M	269M	210M	288M	278M	287M
Effective Tax Rate %	0.52%	0.59%	0.6%	0.81%	0.75%	1.08%	0.59%	0.71%	0.73%	0.71%
Net Income+	355M	491M	533M	734M	684M	1.22B	408M	846M	908M	822M
Net Margin %	0.05%	0.07%	0.07%	0.11%	0.1%	0.17%	0.05%	0.1%	0.11%	0.11%
Net Income Growth %	-0.59%	0.38%	0.09%	0.38%	-0.07%	0.79%	-0.67%	1.07%	0.07%	-0.09%
Net Income (Continuing)	396M	536M	580M	686M	684M	862M	478M	905M	960M	874M
Discontinued Operations	0	0	107M	98M	0	414M	0	0	0	0
Minority Interest	193M	195M	236M	180M	179M	226M	257M	238M	242M	227M
EPS (Diluted)+	1.02	1.47	1.66	2.39	2.20	3.03	1.62	3.63	4.02	3.76
EPS Growth %	-0.57%	0.44%	0.13%	0.44%	-0.08%	0.38%	-0.47%	1.24%	0.11%	-0.06%
EPS (Basic)	1.03	1.54	1.72	2.50	2.21	3.03	1.63	3.65	4.04	3.77
Diluted Shares Outstanding	341M	330M	318M	307M	288M	264M	251M	232M	226M	219M
Basic Shares Outstanding	338M	318M	310.4M	293.9M	287M	258.2M	249M	231M	225M	218M
Dividend Payout Ratio	0.35%	0.26%	0.24%	0.18%	0.21%	0.12%	0.52%	0.3%	0.28%	0.31%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.33B	2.93B	3.21B	2.77B	2.71B	3.49B	3.42B	2.95B	2.86B	2.73B
Cash & Short-Term Investments	1.72B	1.19B	1.3B	559M	697M	1.33B	926M	452M	634M	634M
Cash Only	1.47B	990M	1.19B	559M	697M	1.33B	926M	452M	634M	634M
Short-Term Investments	248M	201M	108M	0	0	0	0	0	0	0
Accounts Receivable	853M	917M	1.07B	990M	997M	1.14B	1.17B	1.15B	1.09B	1.03B
Days Sales Outstanding	43.59	45.49	50.9	54.31	54.26	57.79	51.03	48.32	49.94	48.26
Inventory	687M	712M	796M	946M	754M	876M	1.22B	1.24B	1.02B	938M
Days Inventory Outstanding	51.29	53.03	57.73	80.54	63.47	69.49	80.52	75.61	72.7	68.52
Other Current Assets	0	0	0	342M	173M	0	0	109M	110M	2M
Total Non-Current Assets+	2.35B	2.2B	2.27B	2.63B	2.32B	2.29B	2.15B	2.24B	2.51B	2.29B
Property, Plant & Equipment	1.03B	1.06B	1.13B	1.22B	1.05B	1.07B	1.08B	1.24B	1.39B	1.35B
Fixed Asset Turnover	6.95x	6.94x	6.77x	5.44x	6.36x	6.69x	7.73x	6.99x	5.73x	5.81x
Goodwill	839M	832M	841M	898M	509M	563M	568M	537M	603M	597M
Intangible Assets	160M	154M	187M	406M	259M	357M	388M	350M	377M	220M
Long-Term Investments	48M	18M	13M	12M	11M	157M	25M	22M	0	0
Other Non-Current Assets	94M	71M	55M	46M	384M	28M	32M	31M	137M	122M
Total Assets+	5.68B	5.14B	5.49B	5.39B	5.03B	5.78B	5.58B	5.19B	5.36B	5.02B
Asset Turnover	1.26x	1.43x	1.39x	1.23x	1.33x	1.24x	1.50x	1.67x	1.49x	1.56x
Asset Growth %	-0.21%	-0.1%	0.07%	-0.02%	-0.07%	0.15%	-0.03%	-0.07%	0.03%	-0.06%
Total Current Liabilities+	2.51B	1.46B	1.63B	1.68B	1.55B	1.93B	1.94B	1.89B	1.7B	1.56B
Accounts Payable	749M	800M	824M	736M	697M	893M	1.04B	877M	840M	789M
Days Payables Outstanding	55.92	59.58	59.76	62.66	58.67	70.84	69.2	53.65	59.75	57.63
Short-Term Debt	1B	2M	116M	8M	2M	3M	10M	205M	3M	3M
Deferred Revenue (Current)	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	48M	52M	50M	335M	190M	182M	76M	61M	83M	79M
Current Ratio	1.33x	2.01x	1.97x	1.64x	1.75x	1.80x	1.76x	1.56x	1.68x	1.75x
Quick Ratio	1.05x	1.52x	1.49x	1.08x	1.26x	1.35x	1.14x	0.91x	1.08x	1.15x
Cash Conversion Cycle	38.96	38.94	48.87	72.19	59.06	56.44	62.36	70.28	62.88	59.14
Total Non-Current Liabilities+	3.2B	3.78B	3.68B	3.64B	3.54B	3.42B	3.56B	3.54B	3.55B	3.51B
Long-Term Debt	2.4B	3B	2.97B	2.97B	2.77B	2.79B	2.95B	2.95B	2.95B	2.94B
Capital Lease Obligations	0	0	0	0	162M	149M	172M	255M	258M	223M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	800M	785M	715M	669M	602M	481M	437M	339M	348M	341M
Total Liabilities	5.61B	5.24B	5.35B	5.32B	5.08B	5.36B	5.5B	5.43B	5.25B	5.07B
Total Debt+	3.41B	3B	3.08B	2.98B	2.97B	2.98B	3.17B	3.44B	3.25B	3.21B
Net Debt	1.94B	2.01B	1.89B	2.43B	2.28B	1.66B	2.24B	2.99B	2.62B	2.58B
Debt / Equity	58.74x	-	16.86x	43.17x	-	7.09x	40.63x	-	28.03x	-
Debt / EBITDA	3.25x	2.45x	2.67x	2.49x	2.38x	2.09x	2.04x	2.39x	2.17x	2.12x
Net Debt / EBITDA	1.85x	1.64x	1.64x	2.03x	1.83x	1.16x	1.44x	2.08x	1.75x	1.71x
Interest Coverage	4.06x	4.75x	3.70x	6.90x	6.84x	8.99x	5.05x	12.01x	12.72x	13.77x
Total Equity+	58M	-103M	183M	69M	-56M	421M	78M	-242M	116M	-53M
Equity Growth %	-0.95%	-2.78%	2.78%	-0.62%	-1.81%	8.52%	-0.81%	-4.1%	1.48%	-1.46%
Book Value per Share	0.17	-0.31	0.58	0.22	-0.19	1.59	0.31	-1.04	0.51	-0.24
Total Shareholders' Equity	-135M	-298M	-53M	-111M	-235M	195M	-179M	-480M	-126M	-280M
Common Stock	330M	318M	310M	294M	276M	258M	241M	225M	221M	212M
Retained Earnings	-300M	-381M	-298M	-278M	-332M	79M	-652M	-947M	-596M	-693M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-165M	-235M	-65M	-127M	-179M	-142M	232M	226M	249M	201M
Minority Interest	193M	195M	236M	180M	179M	226M	257M	238M	242M	227M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	699M	726M	751M	1.03B	833M	953M	930M	840M	1.41B	1.07B
Operating CF Margin %	0.1%	0.1%	0.1%	0.16%	0.12%	0.13%	0.11%	0.1%	0.18%	0.14%
Operating CF Growth %	0.16%	0.04%	0.03%	0.37%	-0.19%	0.14%	-0.02%	-0.1%	0.68%	-0.24%
Net Income	704M	814M	901M	981M	980M	1.28B	478M	842M	960M	822M
Depreciation & Amortization	133M	134M	127M	156M	159M	133M	151M	145M	149M	150M
Stock-Based Compensation	41M	29M	38M	27M	35M	45M	61M	0	31M	0
Deferred Taxes	212M	130M	43M	46M	-18M	22M	-53M	-15M	-3M	28M
Other Non-Cash Items	-386M	-293M	-208M	-229M	-317M	-625M	517M	134M	35M	199M
Working Capital Changes	-5M	-88M	-150M	51M	-6M	102M	-224M	-266M	241M	-124M
Change in Receivables	-104M	-132M	-140M	-46M	-37M	-141M	-64M	-15M	42M	-39M
Change in Inventory	17M	-39M	-76M	-11M	58M	-89M	-350M	-43M	233M	4M
Change in Payables	82M	79M	67M	108M	0	0	0	-225M	-34M	-95M
Cash from Investing+	-189M	-124M	-25M	-651M	582M	531M	-12M	-230M	-383M	-65M
Capital Expenditures	-158M	-180M	-173M	-219M	-162M	-114M	-128M	-224M	-243M	-168M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.03%	0.02%	0.02%	0.02%	0.03%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-25M	-196M	96M	-215M	21M	-1M	-3M	-8M	-6M	-4M
Cash from Financing+	-410M	-1.05B	-577M	-1.02B	-1.29B	-886M	-1.3B	-1.07B	-854M	-1B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-126M	-128M	-129M	-134M	-144M	-145M	-211M	-258M	-257M	-254M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	11M	-30M	-172M	-131M	-42M	-27M	-213M	-85M	-39M	-73M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	541M	546M	578M	813M	671M	839M	802M	616M	1.17B	907M
FCF Margin %	0.08%	0.07%	0.08%	0.12%	0.1%	0.12%	0.1%	0.07%	0.15%	0.12%
FCF Growth %	0.14%	0.01%	0.06%	0.41%	-0.17%	0.25%	-0.04%	-0.23%	0.9%	-0.22%
FCF per Share	1.59	1.65	1.82	2.65	2.33	3.18	3.20	2.66	5.18	4.14
FCF Conversion (FCF/Net Income)	1.97x	1.48x	1.41x	1.41x	1.22x	0.78x	2.28x	0.99x	1.56x	1.31x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	59.87%	-	1332.5%	582.54%	10523.08%	670.68%	163.53%	-	782.76%	2609.52%
Return on Invested Capital (ROIC)	26.54%	41.8%	38.8%	35.4%	34.66%	45.2%	47.91%	38.36%	36.87%	38.87%
Gross Margin	31.55%	33.38%	34.16%	35.57%	35.35%	35.99%	34.19%	31.26%	35.6%	36.17%
Net Margin	4.97%	6.67%	6.97%	11.03%	10.2%	17.03%	4.87%	9.75%	11.4%	10.5%
Debt / Equity	58.74x	-	16.86x	43.17x	-	7.09x	40.63x	-	28.03x	-
Interest Coverage	4.06x	4.75x	3.70x	6.90x	6.84x	8.99x	5.05x	12.01x	12.72x	13.77x
FCF Conversion	1.97x	1.48x	1.41x	1.41x	1.22x	0.78x	2.28x	0.99x	1.56x	1.31x
Revenue Growth	-16.18%	3.01%	3.9%	-12.95%	0.8%	7.17%	16.51%	3.64%	-8.21%	-1.74%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Plumbing Products	3.34B	3.53B	3.73B	4B	3.98B	4.14B	5.13B	5.25B	4.84B	4.85B
Plumbing Products Growth	-	5.54%	5.93%	7.04%	-0.35%	3.82%	24.15%	2.28%	-7.81%	0.23%
Decorative Architectural Products	2.02B	2.09B	2.21B	2.66B	2.72B	3.05B	3.24B	3.43B	3.13B	2.98B
Decorative Architectural Products Growth	-	3.56%	5.40%	20.45%	2.52%	12.08%	6.16%	5.80%	-8.84%	-4.80%
Cabinetry Products	-	970M	934M	950M	-	-	-	-	-	-
Cabinetry Products Growth	-	-	-3.71%	1.71%	-	-	-	-	-	-
Windows and Other Specialty Products	-	769M	770M	755M	-	-	-	-	-	-
Windows and Other Specialty Products Growth	-	-	0.13%	-1.95%	-	-	-	-	-	-
Cabinets And Related Products	1.02B	-	-	-	-	-	-	-	-	-
Cabinets And Related Products Growth	-	-	-	-	-	-	-	-	-	-
Other Specialty Products	756M	-	-	-	-	-	-	-	-	-
Other Specialty Products Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	11.05B	5.83B	6.07B	6.76B	5.33B	5.8B	6.62B	6.98B	6.38B	6.26B
North America Growth	-	-47.21%	4.03%	11.44%	-21.22%	8.95%	14.11%	5.34%	-8.51%	-1.88%
Foreign Locations	1.5B	1.52B	1.57B	1.6B	1.38B	1.38B	1.75B	1.7B	1.58B	1.56B
Foreign Locations Growth	-	1.74%	3.41%	1.33%	-13.60%	0.29%	26.61%	-2.80%	-6.99%	-1.20%

Frequently Asked Questions

Valuation & Price

Masco Corporation (MAS) has a price-to-earnings (P/E) ratio of 18.9x. This is roughly in line with market averages.

Growth & Financials

Masco Corporation (MAS) reported $7.60B in revenue for fiscal year 2024. This represents a 2% increase from $7.47B in 2011.

Masco Corporation (MAS) saw revenue decline by 1.7% over the past year.

Yes, Masco Corporation (MAS) is profitable, generating $827.0M in net income for fiscal year 2024 (10.5% net margin).

Dividend & Returns

Yes, Masco Corporation (MAS) pays a dividend with a yield of 1.63%. This makes it attractive for income-focused investors.

Masco Corporation (MAS) has a return on equity (ROE) of 2609.5%. This is excellent, indicating efficient use of shareholder capital.

Masco Corporation (MAS) generated $847.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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