Revenue declined 4.1% year-over-year to $1.2B in Q2 2026, with operating margin falling to -0.8% from 14.3% a year earlier, resulting in a net loss of $22.5M.
Fortune Brands Innovations, Inc. (FBIN) annual income statement — 17-year revenue, gross profit & net income history
| 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 | 4.39B | 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 % | -2.31% | -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 | 2.39B | 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 | 2B | 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 % | 45.58% | 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 | 1.69B | 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 | 995.9M | 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 | 308M | 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 % | 7.01% | 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 | 511.3M | 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 % | 11.64% | 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 % | -39.57% | -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) | 203.3M | 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 | 268.4M | 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 | -82.5M | -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 | 82.5M | 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 | -123.3M | -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 | 184.7M | 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 % | 4.21% | 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 | 35.8M | 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 % | 19.38% | 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 | 148.9M | 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 % | 3.39% | 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 % | -62.15% | -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) | 148.9M | 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) | 1.25 | 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 % | -61.2% | -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 | 119.5M | 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 | 119.5M | 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% | - | - | - | - |
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.
Key Metrics
Top Statement Risk
Revenue decline and margin compression
Metrics are mathematically derived from official filings.
Revenue Slide Persists Amid Housing Weakness
FBIN's revenue has contracted for six consecutive quarters, with Q2 2026 down 4.1% year-over-year to $1.2B, according to the latest income statement data.
The persistent revenue decline, from 6.7% growth in Q1 2024 to -4.1% in Q2 2026, suggests a structural slowdown in the repair and remodel market, likely tied to high mortgage rates and reduced home turnover. The deceleration appears broad-based, with both Water Innovations and Outdoor & Security segments facing demand headwinds. Investors should monitor whether the new CEO's emphasis on market expansion can reverse this trend, but the current trajectory indicates a prolonged downturn.
Gross Margin Resilience Masks Operating Strain
Gross margin improved to 51.2% in Q2 2026, up from 45.1% a year earlier, yet operating margin fell to -0.8%, per reported financials.
The gross margin expansion suggests pricing power or favorable input costs, but the dramatic drop in operating income to a loss indicates that SG&A and other costs are not scaling down with revenue. The Q2 2026 SG&A of $343.8M is unusually high relative to recent quarters, possibly reflecting one-time charges or restructuring costs. This divergence between gross and operating margins warrants investigation into cost controls and the sustainability of the gross margin improvement.
Operating Leverage Turns Negative
Operating income swung from $171.6M in Q2 2025 to -$9.0M in Q2 2026, a 105% decline, as revenue fell only 4.1%, based on the income statement.
The collapse in operating income despite a modest revenue decline indicates that fixed costs are not being adequately managed, leading to negative operating leverage. The spike in SG&A in Q2 2026, which more than offset the gross profit gain, suggests either a one-time event or a structural increase in overhead. If this is a one-time charge, margins may recover, but if it reflects higher ongoing costs, the company's earnings power is diminished.
EPS Volatility Raises Quality Concerns
Diluted EPS swung from $0.82 in Q2 2025 to -$0.19 in Q2 2026, a 123% decline, while stock-based compensation remained modest at $9.6M, per the income statement.
The extreme EPS volatility, including a negative quarter, suggests that reported earnings are sensitive to non-operating items or one-time charges. The Q2 2026 net loss of $22.5M appears inconsistent with the gross profit of $590.7M, implying significant below-the-line expenses. Investors should scrutinize the components of other income/expense and tax items to assess the quality of earnings. The low SBC relative to net income in prior quarters suggests limited dilution, but the current loss raises questions about earnings sustainability.
SG&A Spike Drives Operating Loss
SG&A expenses jumped to $343.8M in Q2 2026 from $338.8M in Q2 2025, despite a 4.1% revenue decline, as reported in the income statement.
The near-flat SG&A in a period of declining revenue indicates a lack of cost flexibility, which is unusual for a manufacturing company. This could be due to investments in innovation or one-time restructuring costs, but the magnitude is significant. The company's ability to align its cost structure with demand will be critical to restoring profitability. If SG&A remains elevated, operating margins will stay under pressure.
Q2 2026 Marks a Profitability Inflection
Q2 2026 is the first quarter in the provided data with an operating loss, -$9.0M, and a net loss of -$22.5M, according to the income statement.
This quarter represents a clear inflection point, as the company moved from consistent profitability to a loss, despite a gross margin that improved to 51.2%. The divergence suggests that the loss is driven by below-the-line items or a significant SG&A spike, rather than core product economics. The lasting impact will depend on whether this is a one-time event or the beginning of a new, lower-margin reality. Investors should monitor subsequent quarters to see if the company can revert to its historical operating margin of 14-16%.
What Could Invalidate the Base Case
The Q2 2026 EPS beat of $1.35 versus consensus $0.53, per recent context, may signal a one-time gain, not sustainable operating improvement.
The massive EPS beat in Q2 2026, despite an operating loss, suggests that non-operating items or tax benefits may have inflated earnings, raising questions about the quality of the beat. If the beat is driven by one-time gains, the underlying business remains under pressure from declining revenue and margin compression. Short-sellers could argue that the company's core operations are deteriorating, and the market is overvaluing a temporary earnings spike. Investors should verify the components of net income to determine if the beat is repeatable.