Despite a 31.0% revenue contraction in 2026Q2, the company maintained a resilient gross margin of 45.5%, suggesting effective pricing power amidst declining demand.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 2.35B | 2.52B | 2.62B | 2.69B | 2.85B | 2.27B | 2.07B | 2.21B | 1.98B | 1.52B | 1.96B | 2.02B | 1.99B | 1.87B | 1.86B | 1.83B | 1.29B | 1.19B | 1.27B | 1.62B | 1.64B | 1.4B | 1.39B | 1.25B | 1.19B | 1.16B | 1.12B | 1.03B | 914.9M | 770.2M | 655.1M |
| Revenue Growth % | -8.03% | -3.95% | -2.3% | -5.73% | 25.45% | 9.88% | -6.46% | 11.7% | 29.7% | -22.08% | -2.92% | 1.22% | 6.44% | 0.55% | 1.66% | 41.48% | 8.37% | -5.93% | -21.48% | -1.22% | 16.73% | 0.59% | 11.09% | 5.2% | 2.8% | 3.73% | 8.3% | 12.88% | 18.79% | 17.57% | 19.89% |
| Cost of Goods Sold | 1.35B | 1.46B | 1.6B | 1.74B | 1.9B | 1.63B | 1.48B | 1.61B | 1.45B | 1.12B | 1.48B | 1.54B | 1.53B | 1.45B | 1.44B | 1.44B | 1.01B | 936.93M | 996.31M | 1.26B | 1.23B | 1.03B | 992.65M | 899.26M | 858.08M | 849.44M | 809.7M | 760.5M | 669M | 559.6M | 479.1M |
| COGS % of Revenue | - | 58.01% | 61.12% | 64.66% | 66.64% | 71.76% | 71.54% | 73.06% | 73.23% | 73.24% | 75.81% | 76.4% | 76.94% | 77.69% | 77.5% | 78.51% | 77.72% | 78.47% | 78.49% | 77.64% | 75.45% | 73.64% | 71.22% | 71.67% | 71.95% | 73.22% | 72.4% | 73.64% | 73.12% | 72.66% | 73.13% |
| Gross Profit | 1B | 1.06B | 1.02B | 948.82M | 950.25M | 641.11M | 588.15M | 595.27M | 529.56M | 408.12M | 473.43M | 475.78M | 459.4M | 417.58M | 418.81M | 393.46M | 288.3M | 257.12M | 273M | 361.43M | 401.75M | 369.63M | 401.16M | 355.39M | 334.52M | 310.69M | 308.69M | 272.2M | 245.9M | 210.6M | 176M |
| Gross Margin % | 42.62% | 41.99% | 38.88% | 35.34% | 33.36% | 28.24% | 28.46% | 26.94% | 26.77% | 26.76% | 24.19% | 23.6% | 23.06% | 22.31% | 22.5% | 21.49% | 22.28% | 21.53% | 21.51% | 22.36% | 24.55% | 26.36% | 28.78% | 28.33% | 28.05% | 26.78% | 27.6% | 26.36% | 26.88% | 27.34% | 26.87% |
| Gross Profit Growth % | - | 3.73% | 7.5% | -0.15% | 48.22% | 9% | -1.2% | 12.41% | 29.76% | -13.8% | -0.49% | 3.57% | 10.01% | -0.29% | 6.44% | 36.47% | 12.13% | -5.81% | -24.47% | -10.04% | 8.69% | -7.86% | 12.88% | 6.24% | 7.67% | 0.65% | 13.4% | 10.7% | 16.76% | 19.66% | 15.49% |
| Operating Expenses | 805.05M | 851.73M | 621.64M | 751.93M | 1.14B | 470.53M | 448.61M | 460M | 433.11M | 339.09M | 364.03M | 374.76M | 375.1M | 340.47M | 341.7M | 330.37M | 261.4M | 230.74M | 259.16M | 322.65M | 316.7M | 289.53M | 289.98M | 268.99M | 267.01M | 239.28M | 253.76M | 230.5M | 196.5M | 156.2M | 128.4M |
| OpEx % of Revenue | - | 33.8% | 23.69% | 28% | 40% | 20.72% | 21.71% | 20.82% | 21.9% | 22.24% | 18.6% | 18.59% | 18.83% | 18.19% | 18.36% | 18.05% | 20.2% | 19.32% | 20.42% | 19.96% | 19.35% | 20.65% | 20.8% | 21.44% | 22.39% | 20.62% | 22.69% | 22.32% | 21.48% | 20.28% | 19.6% |
| Selling, General & Admin | 559.09M | 608.12M | 579.92M | 642.73M | 554.27M | 470.53M | 410.21M | 460M | 433.11M | 339.09M | 364.03M | 374.76M | 375.1M | 340.47M | 341.7M | 330.37M | 261.4M | 230.74M | 246.24M | 322.65M | 316.7M | 289.53M | 289.98M | 268.99M | 260.01M | 239.28M | 230.06M | 207.5M | 180.2M | 144.7M | 118.1M |
| SG&A % of Revenue | - | 24.13% | 22.1% | 23.94% | 19.46% | 20.72% | 19.85% | 20.82% | 21.9% | 22.24% | 18.6% | 18.59% | 18.83% | 18.19% | 18.36% | 18.05% | 20.2% | 19.32% | 19.4% | 19.96% | 19.35% | 20.65% | 20.8% | 21.44% | 21.8% | 20.62% | 20.57% | 20.09% | 19.7% | 18.79% | 18.03% |
| Research & Development | 0 | 20.3M | 19.4M | 18.1M | 15.6M | 7M | 8M | 15.4M | 15.4M | 17.7M | 18M | 15.8M | 23.4M | 22.4M | 23.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 0.81% | 0.74% | 0.67% | 0.55% | 0.31% | 0.39% | 0.7% | 0.78% | 1.16% | 0.92% | 0.78% | 1.17% | 1.2% | 1.27% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 223.31M | 22.32M | 91.1M | 569.45M | -7M | 30.4M | -15.4M | 1.23M | -880K | 768K | 491K | 3.15M | 2.65M | 4.69M | 0 | 0 | 1.24M | 12.91M | 0 | 0 | 0 | 0 | 0 | 7M | 0 | 23.7M | 23M | 16.3M | 11.5M | 10.3M |
| Operating Income | 195.22M | 206.28M | 398.3M | 196.89M | -189.07M | 170.58M | 139.54M | 135.26M | 96.45M | 69.03M | 103.51M | 101.02M | 78.16M | 63.85M | 72.42M | 55.55M | 22.72M | 25.15M | 11.23M | 38.78M | 85.06M | 80.1M | 111.18M | 86.4M | 67.52M | 71.41M | 54.92M | 41.7M | 49.4M | 54.4M | 47.6M |
| Operating Margin % | 8.32% | 8.19% | 15.18% | 7.33% | -6.64% | 7.51% | 6.75% | 6.12% | 4.88% | 4.53% | 5.29% | 5.01% | 3.92% | 3.41% | 3.89% | 3.03% | 1.76% | 2.11% | 0.88% | 2.4% | 5.2% | 5.71% | 7.98% | 6.89% | 5.66% | 6.16% | 4.91% | 4.04% | 5.4% | 7.06% | 7.27% |
| Operating Income Growth % | - | -48.21% | 102.3% | 204.14% | -210.84% | 22.25% | 3.16% | 40.24% | 39.73% | -33.31% | 2.46% | 29.24% | 22.41% | -11.83% | 30.37% | 144.48% | -9.65% | 123.91% | -71.04% | -54.41% | 6.19% | -27.96% | 28.68% | 27.97% | -5.46% | 30.03% | 31.71% | -15.59% | -9.19% | 14.29% | 20.2% |
| EBITDA | 252.74M | 269.29M | 459M | 262.33M | -124.41M | 222.88M | 191.64M | 197.11M | 152.25M | 116.91M | 149.85M | 170.82M | 145.56M | 134.6M | 144.71M | 122.99M | 68.22M | 72.7M | 54.97M | 80.79M | 120.16M | 112.71M | 139.51M | 112.58M | 90.15M | 95.62M | 78.63M | 64.7M | 65.7M | 65.9M | 57.9M |
| EBITDA Margin % | 10.77% | 10.69% | 17.5% | 9.77% | -4.37% | 9.82% | 9.27% | 8.92% | 7.7% | 7.67% | 7.66% | 8.47% | 7.31% | 7.19% | 7.78% | 6.72% | 5.27% | 6.09% | 4.33% | 5% | 7.34% | 8.04% | 10.01% | 8.97% | 7.56% | 8.24% | 7.03% | 6.27% | 7.18% | 8.56% | 8.84% |
| EBITDA Growth % | -46.94% | -41.33% | 74.97% | 310.86% | -155.82% | 16.3% | -2.78% | 29.46% | 30.24% | -21.98% | -12.28% | 17.35% | 8.14% | -6.98% | 17.65% | 80.28% | -6.16% | 32.27% | -31.97% | -32.76% | 6.6% | -19.21% | 23.92% | 24.88% | -5.71% | 21.61% | 21.52% | -1.52% | -0.3% | 13.82% | 19.88% |
| D&A (Non-Cash Add-back) | 57.52M | 63.01M | 60.7M | 65.44M | 64.66M | 52.3M | 52.1M | 61.85M | 55.8M | 47.88M | 46.34M | 69.8M | 67.4M | 70.75M | 72.29M | 67.44M | 45.5M | 47.55M | 43.73M | 42.01M | 35.1M | 32.61M | 28.33M | 26.18M | 22.64M | 24.2M | 23.7M | 23M | 16.3M | 11.5M | 10.3M |
| EBIT | 199.02M | 223.38M | 400.74M | 214.13M | 363.7M | 173.13M | 156M | 140.24M | 99.38M | 68.21M | 82.34M | 101.81M | 87.46M | 79.26M | 73.95M | 33.5M | 26.13M | 32.7M | 13.84M | 44.14M | 85.06M | 80.1M | 111.18M | 86.4M | 67.52M | 71.41M | 54.92M | 41.7M | 49.4M | 54.4M | 47.6M |
| Net Interest Income | -90.69M | -93.86M | -101.65M | -99.35M | -84.16M | -62.73M | -65.8M | -67.51M | -63.87M | -51.45M | -49.88M | -47.52M | -48.14M | -52.17M | -51.72M | -47.45M | -11.91M | -11.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.1M | 2.15M | 2.43M | 2.09M | 215K | 440K | 753K | 806K | 1.7M | 64K | 66K | 301K | 303K | 353K | 292K | 398K | 409K | 1.54M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 91.8M | 96.01M | 104.09M | 101.44M | 84.38M | 63.17M | 66.54M | 68.07M | 65.57M | 51.51M | 49.94M | 48.17M | 48.45M | 52.52M | 52.01M | 47.85M | 12.32M | 13.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -88.96M | -78.91M | -101.65M | -84.2M | -81.81M | -60.63M | -72.06M | -63.09M | -58.99M | -50.34M | -50.13M | -47.38M | -83.88M | -49.52M | -50.48M | -69.9M | -8.91M | -5.54M | -6.85M | -17.02M | -6.36M | -1.16M | -6.43M | -3.34M | -10.96M | -9.69M | -12.66M | -9.6M | -2.9M | -1.3M | -1.6M |
| Pretax Income | 106.25M | 127.37M | 296.65M | 112.68M | -270.88M | 109.95M | 67.48M | 72.18M | 33.81M | 16.7M | 53.16M | 53.64M | -5.72M | 14.33M | 21.94M | -14.35M | 13.81M | 19.61M | 4.38M | 31.63M | 78.7M | 78.94M | 104.75M | 83.06M | 56.56M | 61.73M | 42.26M | 32.1M | 46.5M | 53.1M | 46M |
| Pretax Margin % | 4.53% | 5.05% | 11.31% | 4.2% | -9.51% | 4.84% | 3.27% | 3.27% | 1.71% | 1.09% | 2.72% | 2.66% | -0.29% | 0.77% | 1.18% | -0.78% | 1.07% | 1.64% | 0.35% | 1.96% | 4.81% | 5.63% | 7.52% | 6.62% | 4.74% | 5.32% | 3.78% | 3.11% | 5.08% | 6.89% | 7.02% |
| Income Tax | 71.43M | 76.26M | 86.75M | 35.06M | 16.84M | 39.65M | 26.04M | 26.56M | 555K | -1.08M | 23.15M | 19.35M | -5.54M | 7.54M | 4.93M | -6.92M | 4.31M | 1.69M | 4.29M | 9.55M | 26.91M | 25.72M | 38.76M | 29.88M | 22.51M | 25.31M | 17.38M | 11.9M | 17.2M | 19.9M | 17.9M |
| Effective Tax Rate % | 67.23% | 59.87% | 29.24% | 31.12% | -6.22% | 36.06% | 38.58% | 36.79% | 1.64% | -6.5% | 43.55% | 36.07% | 96.9% | 52.63% | 22.47% | 48.21% | 31.19% | 8.6% | 97.99% | 30.2% | 34.2% | 32.58% | 37% | 35.97% | 39.79% | 41% | 41.13% | 37.07% | 36.99% | 37.48% | 38.91% |
| Net Income | 29.85M | 51.11M | 209.9M | 77.62M | -191.56M | 79.21M | 53.43M | 37.29M | 125.68M | 14.91M | 30.01M | 34.29M | -177K | 3.77M | 17.01M | -7.43M | 9.59M | 18.71M | -40.5M | 22.08M | 51.79M | 48.81M | 53.86M | 43.02M | 9.94M | 30.59M | 19.59M | 20.2M | 29.3M | 33.2M | 22.9M |
| Net Margin % | 1.27% | 2.03% | 8% | 2.89% | -6.72% | 3.49% | 2.59% | 1.69% | 6.35% | 0.98% | 1.53% | 1.7% | -0.01% | 0.2% | 0.91% | -0.41% | 0.74% | 1.57% | -3.19% | 1.37% | 3.16% | 3.48% | 3.86% | 3.43% | 0.83% | 2.64% | 1.75% | 1.96% | 3.2% | 4.31% | 3.5% |
| Net Income Growth % | -87.09% | -75.65% | 170.43% | 140.52% | -341.83% | 48.25% | 43.29% | -70.33% | 742.8% | -50.31% | -12.48% | 19472.32% | -104.7% | -77.86% | 328.92% | -177.47% | -48.73% | 146.19% | -283.45% | -57.36% | 6.09% | -9.37% | 25.19% | 332.99% | -67.52% | 56.17% | -3.02% | -31.06% | -11.75% | 44.98% | -3.78% |
| Net Income (Continuing) | 34.82M | 51.11M | 209.9M | 77.62M | -287.71M | 70.3M | 41.44M | 25.47M | 33.26M | 17.78M | 19.78M | 12.29M | -177K | 6.79M | 17.01M | -7.43M | 9.5M | 22M | 88K | 28.16M | 51.79M | 53.23M | 65.99M | 43.02M | 34.05M | 30.59M | 24.88M | 20.2M | 29.3M | 33.2M | 28.1M |
| Discontinued Operations | -1000K | 0 | 0 | 0 | 96.16M | 8.91M | 11.98M | 11.82M | 92.42M | 0 | 10.23M | 22M | 0 | 0 | 0 | 0 | 0 | 790K | 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 | 25.18M | 45.13M | 30.94M | 19.57M | 18.09M | 17.6M | 12.2M | 0 | 0 |
| EPS (Diluted) | 0.65 | 1.09 | 4.23 | 1.42 | -5.57 | 1.39 | 0.48 | 0.87 | 2.96 | 0.35 | 0.68 | 0.73 | -0.00 | 0.07 | 0.30 | -0.13 | 0.16 | 0.32 | -1.23 | 0.66 | 1.53 | 1.55 | 1.71 | 1.28 | 0.28 | 0.92 | 0.54 | 0.60 | 0.85 | 0.88 | 0.59 |
| EPS Growth % | -85.09% | -74.23% | 197.89% | 125.49% | -500.72% | 189.58% | -44.83% | -70.61% | 745.71% | -48.53% | -6.85% | - | -105.41% | -77.8% | 330.77% | -181.25% | -50% | 126.02% | -286.36% | -56.86% | -1.29% | -9.36% | 33.59% | 357.14% | -69.57% | 70.37% | -10% | -29.41% | -3.41% | 49.15% | 1.72% |
| EPS (Basic) | - | 1.13 | 4.41 | 1.49 | -5.57 | 1.45 | 0.51 | 0.91 | 3.06 | 0.36 | 0.73 | 0.77 | -0.00 | 0.07 | 0.30 | -0.13 | 0.16 | 0.32 | -1.24 | 0.68 | 1.60 | 1.64 | 1.81 | 1.33 | 0.30 | 0.93 | 0.54 | 0.61 | 0.87 | 0.93 | 0.65 |
| Diluted Shares Outstanding | 45.69M | 46.69M | 49.67M | 54.61M | 51.67M | 53.37M | 45.02M | 42.89M | 42.42M | 43.01M | 44.11M | 46.94M | 49.37M | 56.56M | 57.33M | 58.92M | 59.99M | 59M | 32.84M | 33.36M | 33.75M | 31.49M | 31.5M | 33.61M | 35.49M | 33.25M | 36.52M | 33.67M | 34.29M | 37.9M | 38.94M |
| Basic Shares Outstanding | 44.62M | 45.35M | 47.57M | 52.11M | 51.67M | 50.83M | 42.59M | 40.93M | 41.01M | 41.01M | 41.07M | 44.61M | 49.37M | 54.43M | 55.91M | 58.92M | 58.97M | 58.7M | 32.67M | 32.41M | 32.39M | 29.76M | 29.76M | 32.35M | 33.12M | 32.9M | 36.52M | 33.16M | 33.57M | 35.87M | 34.99M |
| Dividend Payout Ratio | - | 77.66% | 17.06% | 172.4% | - | 21.64% | 27.19% | 36.68% | 39.62% | 69.24% | 29.32% | 22.32% | - | 154.63% | 27.88% | - | - | - | - | - | - | - | 11.09% | - | - | - | - | - | - | - | - |
Cyclical Revenue Contraction
As reported in the most recent quarterly filings, Griffon Corporation experienced a significant revenue decline of 31.0% in 2026Q2, marking a sharp departure from the relatively stable performance observed throughout the 2025 fiscal year and suggesting a potential acceleration in top-line deterioration for the company.
The sudden drop in quarterly revenue to $421.9M indicates that the company's exposure to residential repair and remodel markets may be facing intensified pressure. Investors should monitor whether this trend reflects a broader cyclical downturn or specific inventory destocking cycles within the Home & Building Products segment.
Based on the provided financial data, Griffon Corporation maintained a gross margin of 45.5% in 2026Q2, which represents a notable expansion from the 36.8% reported in 2024Q1, suggesting that the firm possesses significant pricing power despite the recent contraction in overall top-line revenue growth.
The ability to expand margins while revenue volume declines implies that the company is successfully passing through input costs or shifting its product mix toward higher-margin offerings. This structural improvement warrants further investigation to determine if it is sustainable or merely a temporary benefit from favorable raw material pricing.
According to the income statement history, Griffon Corporation's operating margin reached 20.7% in 2026Q2, yet the underlying operating income of $87.3M highlights the difficulty of maintaining profitability when revenue scales downward, as seen in the recent quarterly performance compared to the 2025 fiscal year averages.
While the company has demonstrated an ability to manage SG&A expenses relative to gross profit, the volatility in operating income suggests that fixed-cost absorption remains a critical vulnerability. The lack of R&D spending in recent quarters may also indicate a strategy focused on short-term margin preservation over long-term innovation.
As evidenced by the 2025Q3 net loss of $120.1M, Griffon Corporation's earnings quality appears susceptible to significant non-operating volatility, which complicates the assessment of core profitability and suggests that investors should be cautious regarding the consistency of reported net income across different fiscal periods.
The wide variance between operating income and net income in specific quarters suggests that restructuring charges or other non-operating items continue to obscure the underlying earnings power of the business. This inconsistency makes it difficult to rely on EPS as a stable metric for valuation without adjusting for these recurring, yet often excluded, expenses.
Quick answers to the most common questions about buying GFF stock.
For fiscal year 2025, Griffon Corporation (GFF) reported total revenue of $2.52B. This represents a 284.7% increase compared to $655.1M in 1996.
Griffon Corporation (GFF) is profitable, generating $51.1M in net income for the fiscal year ending 2025 with a net profit margin of 2.0%.
Griffon Corporation (GFF) reported an operating income of $206.3M, resulting in an operating profit margin of 8.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Griffon Corporation (GFF) generated $1.06B in gross profit for the year, representing a gross profit margin of 42.0%. This demonstrates the company's core pricing power and production efficiency.