Revenue growth momentum has accelerated to 13.8% in 2026Q3, though operating margins remain pressured at 16.8% compared to the 19.3% peak observed in 2024Q4.
| Metric | TTM | Jul'25 | Jul'24 | Jul'23 | Jul'22 | Jul'21 | Jul'20 | Jul'19 | Jul'18 | Jul'17 | Jul'16 | Jul'15 | Jul'14 | Jul'13 | Jul'12 | Jul'11 | Jul'10 | Jul'09 | Jul'08 | Jul'07 | Jul'06 | Jul'05 | Jul'04 | Jul'03 | Jul'02 | Jul'01 | Jul'00 | Jul'99 | Jul'98 | Jul'97 | Jul'96 |
|---|
| Sales/Revenue | 1.62B | 1.51B | 1.34B | 1.33B | 1.3B | 1.14B | 1.08B | 1.16B | 1.17B | 1.11B | 1.12B | 1.17B | 1.23B | 1.15B | 1.32B | 1.34B | 1.26B | 1.21B | 1.52B | 1.36B | 1.02B | 816.45M | 671.22M | 554.87M | 516.96M | 545.94M | 541.08M | 470.9M | 455.2M | 426.1M | 359.5M |
| Revenue Growth % | 11.11% | 12.84% | 0.72% | 2.29% | 13.75% | 5.86% | -6.84% | -1.13% | 5.44% | -0.65% | -4.36% | -4.35% | 6.33% | -13% | -1.14% | 6.39% | 4.17% | -20.64% | 11.77% | 33.8% | 24.74% | 21.64% | 20.97% | 7.33% | -5.31% | 0.9% | 14.9% | 3.45% | 6.83% | 18.53% | 14.34% |
| Cost of Goods Sold | 793.01M | 752.78M | 653.51M | 674.59M | 670.51M | 583.25M | 553.35M | 581.97M | 585.56M | 555.02M | 561.85M | 613.3M | 615.47M | 546.03M | 687.96M | 683.4M | 635.8M | 631.12M | 778.82M | 705.59M | 492.68M | 383.17M | 324.89M | 274.59M | 256.19M | 257.31M | 211.77M | 187M | 191.6M | 179.9M | 155.8M |
| COGS % of Revenue | - | 49.73% | 48.72% | 50.65% | 51.5% | 50.95% | 51.17% | 50.14% | 49.88% | 49.85% | 50.14% | 52.34% | 50.24% | 47.39% | 51.95% | 51.02% | 50.5% | 52.21% | 51.14% | 51.78% | 48.38% | 46.93% | 48.4% | 49.49% | 49.56% | 47.13% | 39.14% | 39.71% | 42.09% | 42.22% | 43.34% |
| Gross Profit | 828.93M | 760.82M | 687.88M | 657.27M | 631.55M | 561.45M | 527.95M | 578.68M | 588.29M | 558.29M | 558.77M | 558.43M | 609.56M | 606.08M | 636.31M | 656.2M | 623.3M | 577.58M | 744.2M | 657.04M | 525.75M | 433.28M | 346.33M | 280.27M | 260.78M | 288.63M | 329.3M | 283.9M | 263.6M | 246.2M | 203.7M |
| Gross Margin % | 51.11% | 50.27% | 51.28% | 49.35% | 48.5% | 49.05% | 48.83% | 49.86% | 50.12% | 50.15% | 49.86% | 47.66% | 49.76% | 52.61% | 48.05% | 48.98% | 49.5% | 47.79% | 48.86% | 48.22% | 51.62% | 53.07% | 51.6% | 50.51% | 50.44% | 52.87% | 60.86% | 60.29% | 57.91% | 57.78% | 56.66% |
| Gross Profit Growth % | - | 10.6% | 4.66% | 4.07% | 12.49% | 6.34% | -8.77% | -1.63% | 5.37% | -0.09% | 0.06% | -8.39% | 0.57% | -4.75% | -3.03% | 5.28% | 7.91% | -22.39% | 13.26% | 24.97% | 21.34% | 25.1% | 23.57% | 7.48% | -9.65% | -12.35% | 15.99% | 7.7% | 7.07% | 20.86% | 13.23% |
| Operating Expenses | 566.27M | 524.18M | 444.47M | 432.06M | 438.54M | 394.32M | 376.72M | 416.25M | 435.6M | 427.28M | 440.89M | 459.44M | 487.21M | 461.21M | 468.75M | 484.82M | 478.53M | 431.36M | 536.51M | 485.06M | 369.24M | 310.82M | 271.03M | 238.53M | 219.27M | 244.11M | 260.01M | 220.7M | 212.2M | 195.8M | 162.5M |
| OpEx % of Revenue | - | 34.63% | 33.13% | 32.44% | 33.68% | 34.45% | 34.84% | 35.86% | 37.11% | 38.38% | 39.34% | 39.21% | 39.77% | 40.03% | 35.4% | 36.19% | 38.01% | 35.69% | 35.23% | 35.6% | 36.26% | 38.07% | 40.38% | 42.99% | 42.42% | 44.71% | 48.05% | 46.87% | 46.62% | 45.95% | 45.2% |
| Selling, General & Admin | 472.08M | 444.3M | 376.72M | 370.7M | 379.99M | 349.77M | 336.06M | 371.08M | 390.34M | 387.65M | 405.1M | 422.7M | 452.16M | 427.66M | 430.31M | 441.81M | 435.91M | 397.18M | 495.9M | 449.1M | 338.8M | 285.75M | 248M | 219.66M | 199.28M | 214.22M | 220.67M | 187.8M | 178.6M | 165.3M | 140.6M |
| SG&A % of Revenue | - | 29.35% | 28.08% | 27.83% | 29.18% | 30.56% | 31.08% | 31.97% | 33.25% | 34.82% | 36.15% | 36.08% | 36.91% | 37.12% | 32.49% | 32.98% | 34.62% | 32.86% | 32.56% | 32.96% | 33.27% | 35% | 36.95% | 39.59% | 38.55% | 39.24% | 40.78% | 39.88% | 39.24% | 38.79% | 39.11% |
| Research & Development | 94.19M | 79.89M | 67.75M | 61.37M | 58.55M | 44.55M | 40.66M | 45.17M | 45.25M | 39.62M | 35.8M | 36.73M | 35.05M | 33.55M | 38.44M | 43M | 42.62M | 34.18M | 40.61M | 35.95M | 30.44M | 25.08M | 23.03M | 18.87M | 17.27M | 20.33M | 21.51M | 17.7M | 20.3M | 16.3M | 11.3M |
| R&D % of Revenue | - | 5.28% | 5.05% | 4.61% | 4.5% | 3.89% | 3.76% | 3.89% | 3.86% | 3.56% | 3.19% | 3.14% | 2.86% | 2.91% | 2.9% | 3.21% | 3.38% | 2.83% | 2.67% | 2.64% | 2.99% | 3.07% | 3.43% | 3.4% | 3.34% | 3.72% | 3.97% | 3.76% | 4.46% | 3.83% | 3.14% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 803K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.72M | 9.56M | 17.83M | 15.2M | 13.3M | 14.2M | 10.6M |
| Operating Income | 262.66M | 236.64M | 243.41M | 225.21M | 193.01M | 167.13M | 151.23M | 162.43M | 152.7M | 131.01M | 117.88M | 35.31M | -41.21M | -85.63M | 39.76M | 162.19M | 129.46M | 120.37M | 207.68M | 171.99M | 156.52M | 122.45M | 72.12M | 32.15M | 41.5M | 44.52M | 69.29M | 63.2M | 51.4M | 50.4M | 41.2M |
| Operating Margin % | 16.19% | 15.63% | 18.15% | 16.91% | 14.82% | 14.6% | 13.99% | 13.99% | 13.01% | 11.77% | 10.52% | 3.01% | -3.36% | -7.43% | 3% | 12.11% | 10.28% | 9.96% | 13.64% | 12.62% | 15.37% | 15% | 10.74% | 5.79% | 8.03% | 8.15% | 12.81% | 13.42% | 11.29% | 11.83% | 11.46% |
| Operating Income Growth % | - | -2.78% | 8.08% | 16.68% | 15.49% | 10.51% | -6.89% | 6.37% | 16.55% | 11.14% | 233.88% | 185.67% | 51.87% | -315.37% | -75.49% | 25.29% | 7.55% | -42.04% | 20.76% | 9.88% | 27.82% | 69.78% | 124.34% | -22.54% | -6.78% | -35.75% | 9.64% | 22.96% | 1.98% | 22.33% | 1.23% |
| EBITDA | 295.23M | 277.28M | 273.29M | 257.58M | 227.19M | 192.61M | 174.67M | 186.23M | 178.14M | 158.32M | 150.31M | 74.76M | 3.39M | -36.9M | 83.75M | 211.02M | 182.48M | 175.22M | 268.27M | 225.84M | 191.66M | 149.27M | 92.31M | 50.21M | 58.13M | 67.17M | 87.12M | 78.4M | 64.7M | 64.6M | 51.8M |
| EBITDA Margin % | 18.2% | 18.32% | 20.37% | 19.34% | 17.45% | 16.83% | 16.15% | 16.05% | 15.18% | 14.22% | 13.41% | 6.38% | 0.28% | -3.2% | 6.32% | 15.75% | 14.49% | 14.5% | 17.61% | 16.57% | 18.82% | 18.28% | 13.75% | 9.05% | 11.25% | 12.3% | 16.1% | 16.65% | 14.21% | 15.16% | 14.41% |
| EBITDA Growth % | 4.95% | 1.46% | 6.1% | 13.38% | 17.96% | 10.27% | -6.21% | 4.54% | 12.52% | 5.33% | 101.05% | 2107.38% | 109.18% | -144.06% | -60.31% | 15.64% | 4.14% | -34.68% | 18.79% | 17.84% | 28.39% | 61.71% | 83.86% | -13.63% | -13.45% | -22.91% | 11.13% | 21.17% | 0.15% | 24.71% | 4.02% |
| D&A (Non-Cash Add-back) | 32.56M | 40.64M | 29.87M | 32.37M | 34.18M | 25.48M | 23.44M | 23.8M | 25.44M | 27.3M | 32.43M | 39.46M | 44.6M | 48.73M | 43.99M | 48.83M | 53.02M | 54.85M | 60.59M | 53.86M | 35.14M | 26.82M | 20.19M | 18.06M | 16.63M | 22.65M | 17.83M | 15.2M | 13.3M | 14.2M | 10.6M |
| EBIT | 267.53M | 241.84M | 250.97M | 229.24M | 193.26M | 171.46M | 143.1M | 167.47M | 155.18M | 132.14M | 117.17M | 36.15M | -38.81M | -79.03M | 159.75M | 149.75M | 130.62M | 122.17M | 207.68M | 171.99M | 156.52M | 122.45M | 74.16M | 42.41M | 41.5M | 44.52M | 69.29M | 63.77M | 51.4M | 50.4M | 41.1M |
| Net Interest Income | -2.07M | -4.75M | -3.13M | -3.54M | -1.28M | -437K | -2.17M | -2.83M | -3.17M | -5.5M | -7.82M | -11.16M | -14.3M | -16.64M | -19.09M | -22.12M | -21.22M | -24.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.07M | 4.75M | 3.13M | 3.54M | 1.28M | 437K | 2.17M | 2.83M | 3.17M | 5.5M | 7.82M | 11.16M | 14.3M | 16.64M | 19.09M | 22.12M | 21.22M | 24.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.69M | 459K | 4.43M | 483K | -1.03M | -2.06M | -10.54M | 2.22M | -681K | -4.38M | -8.53M | -10.31M | -175.46M | -243.61M | -134.91M | -41.14M | -35.45M | -23.1M | -21.5M | -20.06M | -11.83M | -7.03M | -4.98M | -371K | 1.63M | 268K | 6.84M | 1.58M | -5.3M | 900K | 4.2M |
| Pretax Income | 264.35M | 237.1M | 247.84M | 225.7M | 191.98M | 165.07M | 140.69M | 164.64M | 152.01M | 126.63M | 109.34M | 25M | -53.11M | -98.75M | 22.75M | 144.06M | 109.4M | 97.27M | 186.19M | 151.93M | 144.69M | 115.42M | 70.33M | 32.45M | 43.13M | 44.79M | 76.13M | 64.8M | 46.1M | 51.3M | 45.4M |
| Pretax Margin % | 16.3% | 15.66% | 18.48% | 16.95% | 14.74% | 14.42% | 13.01% | 14.19% | 12.95% | 11.37% | 9.76% | 2.13% | -4.34% | -8.57% | 1.72% | 10.75% | 8.69% | 8.05% | 12.22% | 11.15% | 14.21% | 14.14% | 10.48% | 5.85% | 8.34% | 8.2% | 14.07% | 13.76% | 10.13% | 12.04% | 12.63% |
| Income Tax | 54.69M | 47.84M | 50.63M | 50.84M | 42M | 35.41M | 28.32M | 33.39M | 60.95M | 30.99M | 29.23M | 20.09M | -4.96M | 42.07M | 40.66M | 35.41M | 27.45M | 27.15M | 54M | 42.54M | 40.51M | 33.47M | 19.46M | 11.04M | 14.88M | 17.24M | 28.93M | 25.2M | 18.1M | 19.6M | 17.4M |
| Effective Tax Rate % | 20.69% | 20.18% | 20.43% | 22.53% | 21.88% | 21.45% | 20.13% | 20.28% | 40.1% | 24.47% | 26.74% | 80.39% | 9.34% | -42.6% | 178.73% | 24.58% | 25.09% | 27.91% | 29% | 28% | 28% | 29% | 27.67% | 34% | 34.5% | 38.5% | 38% | 38.89% | 39.26% | 38.21% | 38.33% |
| Net Income | 209.66M | 189.26M | 197.22M | 174.86M | 149.98M | 129.66M | 112.37M | 131.26M | 91.06M | 95.64M | 80.11M | 2.99M | -45.97M | -154.53M | -17.91M | 108.65M | 81.96M | 70.12M | 132.19M | 109.39M | 104.17M | 81.95M | 50.87M | 21.42M | 28.25M | 27.55M | 47.2M | 39.6M | 28M | 31.7M | 28M |
| Net Margin % | 12.93% | 12.5% | 14.7% | 13.13% | 11.52% | 11.33% | 10.39% | 11.31% | 7.76% | 8.59% | 7.15% | 0.25% | -3.75% | -13.41% | -1.35% | 8.11% | 6.51% | 5.8% | 8.68% | 8.03% | 10.23% | 10.04% | 7.58% | 3.86% | 5.47% | 5.05% | 8.72% | 8.41% | 6.15% | 7.44% | 7.79% |
| Net Income Growth % | 7.61% | -4.04% | 12.79% | 16.59% | 15.67% | 15.39% | -14.39% | 44.14% | -4.79% | 19.39% | 2581.96% | 106.5% | 70.25% | -762.79% | -116.48% | 32.57% | 16.88% | -46.95% | 20.84% | 5% | 27.12% | 61.09% | 137.49% | -24.19% | 2.57% | -41.64% | 19.19% | 41.43% | -11.67% | 13.21% | 0.36% |
| Net Income (Continuing) | 209.66M | 189.26M | 197.22M | 174.86M | 149.98M | 129.66M | 112.37M | 131.26M | 91.06M | 95.64M | 80.11M | 4.9M | -48.15M | -140.82M | -17.91M | 108.65M | 81.96M | 70.12M | 132.19M | 109.39M | 104.17M | 81.95M | 50.87M | 21.42M | 28.25M | 27.55M | 47.2M | 39.58M | 28M | 31.7M | 28M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 4.39 | 3.92 | 4.05 | 3.51 | 2.90 | 2.47 | 2.11 | 2.46 | 1.73 | 1.84 | 1.58 | 0.06 | -0.89 | -3.01 | -0.34 | 2.04 | 1.55 | 1.32 | 2.41 | 2.00 | 2.07 | 1.64 | 1.07 | 0.46 | 0.60 | 0.59 | 1.02 | 0.87 | 0.62 | 0.72 | 0.64 |
| EPS Growth % | 8.17% | -3.21% | 15.38% | 21.03% | 17.41% | 17.06% | -14.23% | 42.2% | -5.98% | 16.46% | 2533.33% | 106.74% | 70.43% | -785.29% | -116.67% | 31.61% | 17.42% | -45.23% | 20.5% | -3.38% | 26.22% | 53.27% | 132.61% | -23.33% | 1.69% | -42.16% | 17.24% | 40.32% | -13.89% | 12.5% | -66.67% |
| EPS (Basic) | - | 3.96 | 4.08 | 3.53 | 2.92 | 2.49 | 2.13 | 2.50 | 1.76 | 1.87 | 1.59 | 0.06 | -0.89 | -3.01 | -0.34 | 2.06 | 1.56 | 1.33 | 2.45 | 2.03 | 2.10 | 1.67 | 1.08 | 0.46 | 0.61 | 0.60 | 1.03 | 0.87 | 0.62 | 0.72 | 0.64 |
| Diluted Shares Outstanding | 47.81M | 48.09M | 48.5M | 49.87M | 51.65M | 52.41M | 53.23M | 53.32M | 52.52M | 51.96M | 50.77M | 51.36M | 51.87M | 51.33M | 52.45M | 53.13M | 52.95M | 52.87M | 54.87M | 54.74M | 50.38M | 49.86M | 47.81M | 46.75M | 46.66M | 46.25M | 45.8M | 45.42M | 45.04M | 43.61M | 43.62M |
| Basic Shares Outstanding | 47.36M | 47.64M | 48.12M | 49.59M | 51.32M | 52.04M | 52.76M | 52.6M | 51.68M | 51.06M | 50.54M | 51.28M | 51.87M | 51.33M | 52.45M | 52.64M | 52.4M | 52.56M | 54.17M | 53.91M | 49.49M | 48.97M | 47.3M | 46.36M | 45.89M | 45.48M | 45.35M | 45.15M | 44.68M | 43.61M | 43.62M |
| Dividend Payout Ratio | - | 24.06% | 22.85% | 25.97% | 30.63% | 35.28% | 40.72% | 34.08% | 47.08% | 43.79% | 50.94% | 1371.81% | - | - | - | 35.03% | 44.89% | 51.11% | 24.56% | 27.55% | 25.02% | 25.98% | 38.93% | 83.73% | 61.44% | 58.92% | 32.33% | 36.11% | 47.86% | 36.59% | 31.43% |
Industrial cycle demand sensitivity
According to the most recent quarterly data, Brady Corporation achieved a 13.8% year-over-year revenue expansion in 2026Q3, marking a significant departure from the stagnant growth observed in early 2024 and suggesting that recent pricing initiatives or industrial automation demand are successfully driving top-line performance.
The acceleration to $435.2 million in revenue indicates that the company is successfully capturing value in its core identification solutions segment. Investors should monitor whether this growth is sustainable or if it reflects a temporary surge in industrial capital expenditure that may normalize in subsequent quarters.
As reported in financial statements, Brady Corporation has consistently maintained gross margins above 50%, with the 2026Q3 figure of 51.8% demonstrating the company's ability to preserve pricing power despite potential inflationary pressures on raw material inputs like specialized polymers and adhesives.
This margin profile suggests that the company's proprietary material science moat remains intact, allowing it to pass through costs to customers who prioritize regulatory compliance. The stability of these margins indicates that the 'razor-and-blade' model is effectively insulating the firm from broader industrial commoditization risks.
Based on the provided income statement data, operating income scaled to $73.2 million in 2026Q3, yet the operating margin of 16.8% remains below the 19.3% peak observed in 2024Q4, suggesting that rising SG&A expenses are currently offsetting the gains from higher gross profit levels.
The increase in SG&A suggests that the company is investing heavily in its global sales force or digital transformation initiatives. While these investments may be necessary for long-term relevance, they currently limit the degree of operating leverage that shareholders might otherwise expect from a high-margin industrial business.
Analysis of the quarterly filings reveals that stock-based compensation has fluctuated significantly, reaching $6.7 million in 2026Q1 before dropping to zero in 2026Q3, which introduces volatility into the reported net income and complicates the assessment of underlying operational profitability for the period.
The absence of stock-based compensation in the most recent quarter may artificially inflate net income figures compared to prior periods. Investors should exercise caution when evaluating EPS growth trends, as the inconsistent application of these non-cash expenses may obscure the true trajectory of core earnings power.
While the company exhibits defensive characteristics, the historical data shows that revenue growth can turn negative during industrial downturns, as evidenced by the -1.1% growth in 2024Q2, which warrants skepticism regarding the company's ability to maintain its current growth trajectory if the broader economy weakens.
Short-term performance appears heavily tied to the U.S. Industrial Production Index, and any deceleration in factory utilization could lead to rapid margin compression. The market may be overestimating the 'recurring' nature of the business, potentially ignoring the transactional risks inherent in its distribution-heavy Workplace Safety segment.
Quick answers to the most common questions about buying BRC stock.
For fiscal year 2025, Brady Corporation (BRC) reported total revenue of $1.51B. This represents a 321.0% increase compared to $359.5M in 1996.
Brady Corporation (BRC) is profitable, generating $189.3M in net income for the fiscal year ending 2025 with a net profit margin of 12.5%.
Brady Corporation (BRC) reported an operating income of $236.6M, resulting in an operating profit margin of 15.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Brady Corporation (BRC) generated $760.8M in gross profit for the year, representing a gross profit margin of 50.3%. This demonstrates the company's core pricing power and production efficiency.