Revenue growth has turned negative in five of the last six quarters, culminating in a 2.1% year-over-year contraction as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|
| Sales/Revenue | 4.44B | 4.46B | 4.61B | 4.63B | 4.72B | 4.8B | 3.62B | 5.76B | 5.49B | 5.28B | 4.98B | 4.58B | 4.01B | 3.7B | 3.13B | 3.33B | 3.23B | 3.01B |
| Revenue Growth % | -2.01% | -3.16% | -0.37% | -2.05% | -1.63% | 32.58% | -37.18% | 5.1% | 3.82% | 5.99% | 8.85% | 14.1% | 8.37% | 18.14% | -5.82% | 2.94% | 7.54% | - |
| Cost of Goods Sold | 2.49B | 2.47B | 2.54B | 2.71B | 2.79B | 2.84B | 2.16B | 3.71B | 3.53B | 3.36B | 3.19B | 3B | 2.65B | 2.41B | 2.09B | 2.33B | 2.18B | 2.1B |
| COGS % of Revenue | - | 55.43% | 55.17% | 58.68% | 59.07% | 59.17% | 59.58% | 64.4% | 64.28% | 63.56% | 63.97% | 65.46% | 65.94% | 65.03% | 66.77% | 70.06% | 67.33% | 69.98% |
| Gross Profit | 1.95B | 1.99B | 2.07B | 1.91B | 1.93B | 1.96B | 1.46B | 2.05B | 1.96B | 1.93B | 1.8B | 1.58B | 1.37B | 1.3B | 1.04B | 996.5M | 1.06B | 902.5M |
| Gross Margin % | 44.01% | 44.57% | 44.83% | 41.32% | 40.93% | 40.83% | 40.42% | 35.6% | 35.72% | 36.44% | 36.03% | 34.54% | 34.06% | 34.97% | 33.23% | 29.94% | 32.67% | 30.02% |
| Gross Profit Growth % | - | -3.72% | 8.1% | -1.11% | -1.41% | 33.92% | -28.67% | 4.75% | 1.79% | 7.18% | 13.54% | 15.73% | 5.54% | 24.34% | 4.53% | -5.67% | 17.05% | - |
| Operating Expenses | 1.47B | 1.37B | 1.33B | 1.3B | 1.16B | 1.15B | 896.2M | 1.35B | 1.36B | 1.24B | 1.18B | 1.09B | 963.4M | 972.1M | 898.4M | 1.01B | 858M | 853.1M |
| OpEx % of Revenue | - | 30.65% | 28.82% | 28.03% | 24.53% | 23.94% | 24.75% | 23.49% | 24.87% | 23.52% | 23.62% | 23.71% | 24% | 26.25% | 28.66% | 30.41% | 26.53% | 28.37% |
| Selling, General & Admin | 990.9M | 1.29B | 1.25B | 1.17B | 1.07B | 1.09B | 847.5M | 1.29B | 1.23B | 1.19B | 1.12B | 1.05B | 943.3M | 938.7M | 873.1M | 900.6M | 834.3M | 815.2M |
| SG&A % of Revenue | - | 28.97% | 27.14% | 25.22% | 22.64% | 22.63% | 23.4% | 22.35% | 22.51% | 22.47% | 22.49% | 22.88% | 23.5% | 25.35% | 27.85% | 27.06% | 25.8% | 27.11% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 48.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | 1.34% | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 75.2M | 77.6M | 129.7M | 89.4M | 62.8M | 300K | 65.7M | 129.3M | 55.2M | 56.2M | 38.2M | 20.1M | 33.4M | 25.3M | 111.5M | 23.7M | 37.9M |
| Operating Income | 488.6M | 621.4M | 737.9M | 614.9M | 774.3M | 811.1M | 567.7M | 698.5M | 595.2M | 682.5M | 618.6M | 496.1M | 403.5M | 323M | 143.2M | -15.6M | 198.4M | 49.4M |
| Operating Margin % | 11% | 13.92% | 16.01% | 13.29% | 16.39% | 16.89% | 15.68% | 12.12% | 10.85% | 12.92% | 12.41% | 10.83% | 10.05% | 8.72% | 4.57% | -0.47% | 6.14% | 1.64% |
| Operating Income Growth % | - | -15.79% | 20% | -20.59% | -4.54% | 42.87% | -18.73% | 17.36% | -12.79% | 10.33% | 24.69% | 22.95% | 24.92% | 125.56% | 1017.95% | -107.86% | 301.62% | - |
| EBITDA | 654.4M | 815.8M | 931.5M | 783.7M | 965.9M | 1B | 731.2M | 851.2M | 744.8M | 812.8M | 741.3M | 611.2M | 502.3M | 413.4M | 244.5M | 95.9M | 310M | 180.5M |
| EBITDA Margin % | 14.73% | 18.28% | 20.21% | 16.94% | 20.45% | 20.83% | 20.19% | 14.77% | 13.58% | 15.38% | 14.87% | 13.35% | 12.51% | 11.16% | 7.8% | 2.88% | 9.59% | 6% |
| EBITDA Growth % | -25.49% | -12.42% | 18.86% | -18.86% | -3.43% | 36.79% | -14.1% | 14.29% | -8.37% | 9.65% | 21.29% | 21.68% | 21.5% | 69.08% | 154.95% | -69.06% | 71.75% | - |
| D&A (Non-Cash Add-back) | 165.8M | 194.4M | 193.6M | 168.8M | 191.6M | 189.1M | 163.5M | 152.7M | 149.6M | 130.3M | 122.7M | 115.1M | 98.8M | 90.4M | 101.3M | 111.5M | 111.6M | 131.1M |
| EBIT | 491.7M | 520.2M | 726M | 634.4M | 786.3M | 810.7M | 583M | 669.5M | 611.5M | 684.2M | 631.2M | 491.8M | 402.3M | 317.7M | 143.7M | -11.1M | 214.3M | 50.4M |
| Net Interest Income | -89.5M | -108.7M | -128M | -102.3M | -113.4M | -82.2M | -83.8M | -94.2M | -74.5M | -49.4M | -49.1M | -31.9M | -10.4M | -7.2M | -8.5M | -26.4M | -116.3M | -85.2M |
| Interest Income | 0 | 6.5M | 5.1M | 14.2M | 5.8M | 2.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.1M | 14.9M | 0 |
| Interest Expense | 89.5M | 115.2M | 133.1M | 116.5M | 119.2M | 84.3M | 83.8M | 94.2M | 74.5M | 49.4M | 49.1M | 31.9M | 10.4M | 7.2M | 8.5M | 32.5M | 131.2M | 85.2M |
| Other Income/Expense | -119.3M | -216.4M | -132.4M | -97M | -107.2M | -84.7M | -76.1M | -123.2M | -58.2M | -47.7M | -36.5M | -36.2M | -11.6M | -12.5M | -8M | -28M | -115.3M | -84.2M |
| Pretax Income | 369.3M | 405M | 605.5M | 517.9M | 667.1M | 726.4M | 491.6M | 575.3M | 537M | 634.8M | 582.1M | 459.9M | 391.9M | 310.5M | 135.2M | -43.6M | 83.1M | -34.8M |
| Pretax Margin % | 8.32% | 9.07% | 13.14% | 11.19% | 14.12% | 15.13% | 13.58% | 9.98% | 9.79% | 12.02% | 11.68% | 10.04% | 9.76% | 8.38% | 4.31% | -1.31% | 2.57% | -1.16% |
| Income Tax | 97.7M | 106.2M | 133.6M | 112.4M | 127.2M | 166.7M | 110.8M | 144M | 147M | 159.5M | 169.7M | 153.4M | 118.3M | 101.5M | 26.9M | -9M | 18.1M | 6.3M |
| Effective Tax Rate % | 26.46% | 26.22% | 22.06% | 21.7% | 19.07% | 22.95% | 22.54% | 25.03% | 27.37% | 25.13% | 29.15% | 33.36% | 30.19% | 32.69% | 19.9% | 20.64% | 21.78% | -18.1% |
| Net Income | 271.7M | 298.8M | 471.9M | 404.5M | 686.7M | 772.4M | 553.1M | 431.9M | 389.6M | 472.6M | 413.2M | 315M | 158.1M | 229.7M | 118.7M | -35.6M | 63.8M | -41.9M |
| Net Margin % | 6.12% | 6.69% | 10.24% | 8.74% | 14.54% | 16.09% | 15.27% | 7.49% | 7.1% | 8.95% | 8.29% | 6.88% | 3.94% | 6.2% | 3.79% | -1.07% | 1.97% | -1.39% |
| Net Income Growth % | -36.37% | -36.68% | 16.66% | -41.1% | -11.1% | 39.65% | 28.06% | 10.86% | -17.56% | 14.38% | 31.17% | 99.24% | -31.17% | 93.51% | 433.43% | -155.8% | 252.27% | - |
| Net Income (Continuing) | 271.7M | 298.8M | 471.9M | 405.5M | 539.9M | 559.7M | 380.8M | 431.3M | 390M | 475.3M | 412.4M | 306.5M | 273.6M | 209M | 108.3M | -34.6M | 65M | -41.1M |
| Discontinued Operations | 0 | 0 | 0 | -1M | 146.8M | 212.7M | 173.6M | 0 | -200K | -2.6M | 800K | 9M | -114.3M | 21.9M | 11.4M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.2M | 1.8M | 1.6M | 1.5M | 2.9M | 3.6M | 3.7M | 3.6M | 3.7M | 3.5M | 2.9M |
| EPS (Diluted) | 2.26 | 2.47 | 3.75 | 3.17 | 5.23 | 5.54 | 3.94 | 3.06 | 2.66 | 3.05 | 2.61 | 1.88 | 1.00 | 1.34 | 0.71 | -0.23 | 0.41 | -0.27 |
| EPS Growth % | -34.31% | -34.13% | 18.3% | -39.39% | -5.6% | 40.61% | 28.76% | 15.04% | -12.79% | 16.86% | 38.83% | 88% | -25.37% | 88.73% | 408.7% | -156.1% | 251.85% | - |
| EPS (Basic) | - | 2.47 | 3.78 | 3.20 | 5.36 | 5.72 | 3.99 | 3.09 | 2.70 | 3.11 | 2.69 | 1.97 | 1.00 | 1.38 | 0.72 | -0.23 | 0.41 | -0.27 |
| Diluted Shares Outstanding | 120.4M | 121.2M | 125.7M | 127.7M | 131.3M | 139.5M | 140.2M | 141.3M | 146.4M | 155.8M | 157.8M | 163M | 166.3M | 171.3M | 166.1M | 155.2M | 155.1M | 155.1M |
| Basic Shares Outstanding | 120.4M | 121.2M | 124.8M | 126.29M | 128.04M | 135.06M | 138.66M | 139.56M | 140.5M | 151.91M | 153.41M | 159.91M | 158.14M | 166.67M | 163.86M | 155.2M | 155.1M | 155.1M |
| Dividend Payout Ratio | - | 40.36% | 25.34% | 28.88% | 21.2% | 18.51% | 24.1% | 28.48% | 29.57% | 23.34% | 23.77% | 28.41% | 48.96% | 21.72% | - | - | - | - |
Housing turnover sensitivity
As indicated by the most recent quarterly data, FBIN has experienced a consistent decline in top-line performance, with revenue growth rates turning negative in five of the last six quarters, culminating in a 2.1% year-over-year contraction reported in the 2026Q1 financial statements.
The persistent negative growth trajectory suggests that the company is struggling to offset the broader slowdown in residential housing turnover. Investors should monitor whether this trend reflects a structural decline in demand for discretionary renovation projects or merely a temporary lull in the home improvement cycle.
Based on the provided income statement figures, FBIN's operating margin has faced significant pressure, falling from a peak of 17.8% in 2024Q3 to a compressed 6.9% in 2026Q1, highlighting the company's sensitivity to volume deleveraging within its core manufacturing and distribution segments.
The contraction in operating margins appears to outpace the decline in gross margins, suggesting that fixed costs are not being scaled down in proportion to the revenue drop. This lack of operating flexibility warrants further investigation into the company's ability to maintain profitability during prolonged periods of low housing activity.
According to the reported financial data, the company's operating income has demonstrated high volatility, dropping from $205.1 million in 2024Q3 to $69.5 million in 2026Q1, which suggests that the business model currently lacks the necessary operating leverage to protect earnings during revenue downturns.
The sharp decline in operating income relative to revenue suggests that the company's cost structure remains heavily weighted toward fixed expenses. This dynamic implies that any further deterioration in top-line growth could lead to disproportionately larger impacts on the bottom line.
As reported in the income statement, the significant drop in EPS from $1.09 in 2024Q3 to $0.20 in 2026Q1 raises concerns regarding the sustainability of current earnings, particularly as the company navigates a challenging macroeconomic environment characterized by high interest rates and reduced consumer spending.
Short-sellers may focus on the potential for further margin erosion if the company is unable to pass through cost increases to a price-sensitive consumer base. The reliance on the R&R cycle may be less of a buffer than anticipated if homeowners continue to defer non-essential home maintenance.
Quick answers to the most common questions about buying FBIN stock.
For fiscal year 2025, Fortune Brands Innovations, Inc. (FBIN) reported total revenue of $4.46B. This represents a 48.4% increase compared to $3.01B in 2009.
Fortune Brands Innovations, Inc. (FBIN) is profitable, generating $298.8M in net income for the fiscal year ending 2025 with a net profit margin of 6.7%.
Fortune Brands Innovations, Inc. (FBIN) reported an operating income of $621.4M, resulting in an operating profit margin of 13.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Fortune Brands Innovations, Inc. (FBIN) generated $1.99B in gross profit for the year, representing a gross profit margin of 44.6%. This demonstrates the company's core pricing power and production efficiency.