Simpson Manufacturing Co., Inc. (SSD) Income Statement

30Y historyFree accessUpdated daily

Revenue growth accelerated to 6.3% YoY in Q2 2026, with gross margin expanding to 47.4% and operating margin reaching a ten-quarter high of 25.2%, driving EPS of $3.09.

Annual statement

SSD Income Statement

Simpson Manufacturing Co., Inc. (SSD) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

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	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Sales/Revenue	2.42B	2.33B	2.23B	2.21B	2.12B	1.57B	1.27B	1.14B	1.08B	977.02M	860.66M	794.06M	752.15M	706.33M	657.24M	603.45M	555.49M	585.07M	756.5M	816.99M	863.18M	846.26M	698.05M	548.18M	465.47M	415.86M	369.09M	328.4M	279.1M	246.1M	202.4M
Revenue Growth %	6.48%	4.51%	0.83%	4.62%	34.51%	24.08%	11.56%	5.35%	10.42%	13.52%	8.39%	5.57%	6.49%	7.47%	8.91%	8.63%	-5.06%	-22.66%	-7.4%	-5.35%	2%	21.23%	27.34%	17.77%	11.93%	12.67%	12.39%	17.66%	13.41%	21.59%	20.48%
Cost of Goods Sold	1.31B	1.26B	1.21B	1.17B	1.17B	818.51M	692.42M	645.28M	598.29M	530.76M	448.21M	435.14M	410.12M	391.79M	373.76M	332.64M	311.35M	391.5M	474.19M	511.5M	517.88M	525.09M	412.93M	329.9M	276.56M	257.78M	214.17M	184.9M	161.7M	142.6M	117.2M
COGS % of Revenue	-	54.15%	54.03%	52.85%	55.52%	52.03%	54.61%	56.78%	55.46%	54.32%	52.08%	54.8%	54.53%	55.47%	56.87%	55.12%	56.05%	66.91%	62.68%	62.61%	60%	62.05%	59.16%	60.18%	59.41%	61.99%	58.03%	56.3%	57.94%	57.94%	57.91%
Gross Profit	1.11B	1.07B	1.03B	1.04B	941.17M	754.71M	575.52M	491.26M	480.52M	446.26M	412.45M	358.92M	342.03M	314.54M	283.48M	270.8M	244.14M	193.57M	282.31M	305.49M	345.3M	321.16M	285.12M	218.28M	188.92M	158.08M	154.92M	143.5M	117.4M	103.5M	85.2M
Gross Margin %	45.77%	45.85%	45.97%	47.15%	44.48%	47.97%	45.39%	43.22%	44.54%	45.68%	47.92%	45.2%	45.47%	44.53%	43.13%	44.88%	43.95%	33.09%	37.32%	37.39%	40%	37.95%	40.84%	39.82%	40.59%	38.01%	41.97%	43.7%	42.06%	42.06%	42.09%
Gross Profit Growth %	-	4.25%	-1.71%	10.92%	24.71%	31.13%	17.15%	2.23%	7.68%	8.2%	14.91%	4.94%	8.74%	10.96%	4.68%	10.92%	26.12%	-31.43%	-7.59%	-11.53%	7.51%	12.64%	30.62%	15.54%	19.51%	2.04%	7.96%	22.23%	13.43%	21.48%	33.33%
Operating Expenses	610.7M	626.98M	595.88M	564.25M	466.2M	387.24M	323.49M	316.03M	312.08M	307.26M	272.81M	241.48M	243.09M	230.92M	219.26M	195.27M	164.19M	164.17M	191.93M	184.69M	183.43M	169.48M	153.9M	120.21M	102.83M	92.26M	95.18M	80.9M	66.1M	60.2M	52.5M
OpEx % of Revenue	-	26.88%	26.7%	25.49%	22.03%	24.61%	25.51%	27.81%	28.93%	31.45%	31.7%	30.41%	32.32%	32.69%	33.36%	32.36%	29.56%	28.06%	25.37%	22.61%	21.25%	20.03%	22.05%	21.93%	22.09%	22.19%	25.79%	24.63%	23.68%	24.46%	25.94%
Selling, General & Admin	550.7M	544.49M	496.93M	472.08M	397.85M	328.18M	273.55M	269.84M	268.5M	257.65M	223.2M	204.09M	203.53M	193.17M	182.33M	169.39M	143.08M	133.85M	170.6M	164.57M	164.17M	164.58M	149.83M	120.1M	102.83M	92.26M	82.04M	70M	57.8M	53.5M	45.3M
SG&A % of Revenue	-	23.34%	22.26%	21.32%	18.8%	20.86%	21.57%	23.74%	24.89%	26.37%	25.93%	25.7%	27.06%	27.35%	27.74%	28.07%	25.76%	22.88%	22.55%	20.14%	19.02%	19.45%	21.46%	21.91%	22.09%	22.19%	22.23%	21.32%	20.71%	21.74%	22.38%
Research & Development	78.51M	82.48M	93.58M	92.17M	68.35M	59.38M	50.81M	47.06M	43.06M	47.62M	46.25M	40.3M	39.02M	36.84M	35.92M	25.89M	21.11M	19.99M	21.33M	20.11M	19.25M	4.9M	4.48M	0	0	0	0	0	0	0	0
R&D % of Revenue	-	3.54%	4.19%	4.16%	3.23%	3.77%	4.01%	4.14%	3.99%	4.87%	5.37%	5.07%	5.19%	5.22%	5.47%	4.29%	3.8%	3.42%	2.82%	2.46%	2.23%	0.58%	0.64%	-	-	-	-	-	-	-	-
Other Operating Expenses	-1.38M	0	5.37M	0	0	-324K	-864K	-872K	525K	1.99M	3.36M	-2.9M	545K	907K	1M	0	0	10.32M	0	0	0	0	-408.79K	103.58K	0	0	13.14M	10.9M	8.3M	6.7M	7.2M
Operating Income	497.72M	442.63M	429.98M	479.66M	474.97M	367.47M	252.03M	175.23M	168.44M	139.01M	139.64M	117.44M	98.94M	83.62M	64.22M	75.53M	79.95M	29.41M	90.38M	120.8M	161.87M	151.69M	131.22M	98.07M	86.08M	65.82M	59.74M	62.6M	51.3M	43.3M	32.7M
Operating Margin %	20.55%	18.97%	19.26%	21.67%	22.45%	23.36%	19.88%	15.42%	15.61%	14.23%	16.23%	14.79%	13.15%	11.84%	9.77%	12.52%	14.39%	5.03%	11.95%	14.79%	18.75%	17.92%	18.8%	17.89%	18.49%	15.83%	16.19%	19.06%	18.38%	17.59%	16.16%
Operating Income Growth %	-	2.94%	-10.36%	0.99%	29.25%	45.8%	43.83%	4.03%	21.17%	-0.45%	18.91%	18.7%	18.32%	30.2%	-14.97%	-5.52%	171.86%	-67.46%	-25.18%	-25.37%	6.71%	15.6%	33.8%	13.93%	30.79%	10.18%	-4.57%	22.03%	18.48%	32.42%	42.79%
EBITDA	596.63M	531.11M	515.37M	554.37M	547.19M	419.51M	297.78M	213.63M	207.83M	172.73M	167.57M	144.26M	126.85M	111.13M	91.08M	96.28M	102.81M	58.79M	120.59M	148.79M	186.4M	174.06M	149.66M	113.72M	100.11M	81.47M	72.87M	73.5M	59.6M	50M	39.9M
EBITDA Margin %	24.63%	22.77%	23.09%	25.04%	25.86%	26.67%	23.49%	18.8%	19.26%	17.68%	19.47%	18.17%	16.87%	15.73%	13.86%	15.96%	18.51%	10.05%	15.94%	18.21%	21.59%	20.57%	21.44%	20.75%	21.51%	19.59%	19.74%	22.38%	21.35%	20.32%	19.71%
EBITDA Growth %	12.06%	3.05%	-7.03%	1.31%	30.44%	40.88%	39.39%	2.79%	20.32%	3.08%	16.16%	13.72%	14.15%	22.02%	-5.4%	-6.35%	74.86%	-51.25%	-18.95%	-20.18%	7.09%	16.3%	31.6%	13.6%	22.88%	11.79%	-0.85%	23.32%	19.2%	25.31%	41.49%
D&A (Non-Cash Add-back)	98.91M	88.48M	85.4M	74.71M	72.22M	52.04M	45.75M	38.4M	39.39M	33.72M	27.93M	26.82M	27.92M	27.52M	26.86M	20.75M	22.86M	29.39M	30.21M	27.98M	24.54M	22.37M	18.44M	15.65M	14.02M	15.65M	13.14M	10.9M	8.3M	6.7M	7.2M
EBIT	503.97M	462.47M	435.34M	483.98M	460.73M	359.4M	251.85M	180.38M	173.19M	145.59M	140.05M	109.68M	100.18M	82.47M	62.71M	79.36M	78.38M	28.96M	90.03M	116.8M	165.24M	155.76M	131.97M	98.07M	86.08M	65.82M	59.74M	62.6M	51.3M	43.3M	32.7M
Net Interest Income	14.97M	8.34M	-48.94M	-7.43M	-12.66M	-850K	-2.01M	-1.74M	-571K	-788K	-577K	-342K	46K	86K	212K	340K	148K	75K	2.6M	5.76M	3.72M	1.55M	385.27K	0	0	0	0	0	0	0	0
Interest Income	14.97M	8.34M	0	0	0	0	272K	291K	493K	389K	570K	655K	901K	987K	1M	913K	492K	542K	2.98M	5.99M	3.93M	1.75M	748.91K	0	0	0	0	0	0	0	0
Interest Expense	0	0	48.94M	7.43M	12.66M	850K	2.28M	2.03M	1.06M	1.18M	1.15M	997K	855K	901K	793K	573K	344K	467K	381K	229K	208K	194K	363.64K	0	0	0	0	0	0	0	0
Other Income/Expense	8M	19.84M	4.07M	-3.11M	-26.91M	-8.92M	-2.47M	3.13M	3.69M	5.41M	-742K	-8.76M	386K	-2.05M	-2.3M	3.26M	-1.91M	-916K	-730K	-4.23M	3.17M	3.88M	385.27K	999.49K	985.11K	2.32M	4.26M	1.7M	800K	500K	600K
Pretax Income	505.73M	462.47M	434.04M	476.55M	448.06M	358.55M	249.56M	178.36M	172.13M	144.42M	138.9M	108.68M	99.32M	81.56M	61.92M	78.79M	78.04M	28.49M	89.65M	116.58M	165.03M	155.56M	131.6M	99.07M	87.07M	68.14M	63.99M	64.3M	52.1M	43.8M	33.3M
Pretax Margin %	20.88%	19.82%	19.45%	21.53%	21.17%	22.79%	19.68%	15.69%	15.96%	14.78%	16.14%	13.69%	13.21%	11.55%	9.42%	13.06%	14.05%	4.87%	11.85%	14.27%	19.12%	18.38%	18.85%	18.07%	18.71%	16.38%	17.34%	19.58%	18.67%	17.8%	16.45%
Income Tax	126.81M	117.39M	111.82M	122.56M	114.07M	92.1M	62.56M	44.38M	45.49M	51.8M	49.17M	40.79M	35.79M	30.59M	20M	27.89M	33.24M	16.27M	35.72M	47.83M	62.37M	57.17M	50.09M	38.51M	35.13M	27.62M	25.64M	25.8M	21M	17.8M	13.6M
Effective Tax Rate %	25.07%	25.38%	25.76%	25.72%	25.46%	25.69%	25.07%	24.88%	26.43%	35.87%	35.4%	37.53%	36.04%	37.51%	32.3%	35.39%	42.59%	57.12%	39.84%	41.03%	37.79%	36.75%	38.06%	38.87%	40.35%	40.53%	40.07%	40.12%	40.31%	40.64%	40.84%
Net Income	378.92M	345.08M	322.22M	353.99M	334M	266.45M	187M	133.98M	126.63M	92.62M	89.73M	67.89M	63.53M	50.97M	41.92M	50.9M	28.59M	12.22M	53.93M	68.74M	102.5M	98.39M	81.51M	60.56M	51.93M	40.52M	38.35M	38.5M	31.1M	26M	19.7M
Net Margin %	15.65%	14.79%	14.44%	15.99%	15.78%	16.94%	14.75%	11.79%	11.74%	9.48%	10.43%	8.55%	8.45%	7.22%	6.38%	8.43%	5.15%	2.09%	7.13%	8.41%	11.87%	11.63%	11.68%	11.05%	11.16%	9.74%	10.39%	11.72%	11.14%	10.56%	9.73%
Net Income Growth %	14.68%	7.09%	-8.97%	5.99%	25.35%	42.48%	39.57%	5.8%	36.73%	3.21%	32.18%	6.86%	24.64%	21.6%	-17.65%	78.06%	133.99%	-77.35%	-21.54%	-32.93%	4.17%	20.72%	34.59%	16.61%	28.18%	5.64%	-0.38%	23.79%	19.62%	31.98%	39.72%
Net Income (Continuing)	378.92M	345.08M	322.22M	353.99M	334M	266.45M	187M	133.98M	126.63M	92.62M	89.73M	67.89M	63.53M	50.97M	41.92M	50.9M	44.8M	12.22M	53.93M	68.74M	102.66M	98.39M	81.51M	60.56M	51.93M	40.52M	38.35M	38.5M	31.1M	26M	19.7M
Discontinued Operations	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
Minority Interest	-9.01M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5.34M	0	0	0	0	754.28K	0	0	0	0
EPS (Diluted)	9.23	8.24	7.60	8.26	7.76	6.12	4.27	2.98	2.78	1.94	1.86	1.38	1.29	1.05	0.87	1.04	0.58	0.25	1.10	1.40	2.10	2.02	1.67	1.23	1.05	0.82	0.80	0.79	0.65	0.14	0.42
EPS Growth %	16.56%	8.42%	-7.99%	6.44%	26.8%	43.33%	43.29%	7.19%	43.3%	4.3%	34.78%	6.98%	22.86%	20.69%	-16.35%	79.31%	132%	-77.27%	-21.43%	-33.33%	3.96%	20.96%	35.77%	17.14%	28.05%	2.5%	1.27%	21.54%	364.29%	-66.67%	446.16%
EPS (Basic)	-	8.27	7.64	8.31	7.78	6.15	4.28	3.00	2.80	1.95	1.87	1.39	1.30	1.05	0.87	1.04	0.58	0.25	1.11	1.42	2.12	2.05	1.70	1.24	1.06	0.84	0.82	0.81	0.67	0.14	0.42
Diluted Shares Outstanding	41.07M	41.86M	42.38M	42.84M	43.05M	43.53M	43.84M	44.92M	46.54M	47.77M	48.3M	49.18M	49.19M	48.67M	48.41M	49.02M	49.61M	49.26M	48.97M	48.93M	48.89M	48.61M	48.92M	49.23M	49.62M	49.26M	49.18M	48.94M	48.19M	46.07M	47.35M
Basic Shares Outstanding	40.96M	41.72M	42.18M	42.6M	42.92M	43.33M	43.71M	44.73M	46.21M	47.49M	48.08M	48.95M	48.98M	48.52M	48.34M	48.97M	49.5M	49.13M	48.64M	48.47M	48.3M	48.08M	48.05M	48.88M	48.94M	48.43M	48.09M	47.35M	46.24M	45.9M	47.02M
Dividend Payout Ratio	-	13.79%	14.43%	12.77%	13.14%	15.62%	21.6%	30%	31.5%	39.93%	36.45%	43.24%	40.8%	35.57%	72.03%	45.83%	69.14%	160.7%	36.04%	26.79%	15.07%	9.76%	8.83%	-	-	-	-	-	-	-	-

Key Metrics

Growth RegimeAccelerating

ProfitabilityStrong

Balance SheetHealthy

Cash FlowRobust

Top Statement Risk

Housing cycle and modular shift

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Revenue Momentum Reaccelerates

SSD's revenue growth accelerated to 6.3% YoY in Q2 2026, up from 5.7% in Q2 2025, driven by balanced North American and European demand, as per the latest quarterly report.

The sequential acceleration from 4.2% in Q4 2025 to 6.3% in Q2 2026 suggests improving end-market conditions, likely supported by resilient repair/remodel activity and continued ETANCO integration. However, the growth rate remains modest relative to historical peaks, indicating a mature cyclical phase. Investors should monitor whether this momentum can persist given mixed housing starts data.

Gross Margin Resilience Amid Steel Volatility

Gross margin expanded to 47.4% in Q2 2026, up 70 bps YoY, reflecting pricing discipline and product mix shift toward higher-margin specialty anchors, as reported in financial statements.

The gross margin has held above 45% for eight consecutive quarters, demonstrating pricing power that offsets raw steel cost fluctuations. The improvement in Q2 2026 suggests successful pass-through of input costs and a favorable mix from concrete and chemical products. However, the cyclicality of steel prices and potential modular construction shifts could pressure margins if volume growth slows.

Operating Leverage Drives EPS Beat

Operating income grew 20.6% YoY in Q2 2026, outpacing revenue growth of 6.3%, with operating margin expanding to 25.2% from 22.2% a year ago, based on reported figures.

The 300 bps operating margin expansion in Q2 2026 indicates strong operating leverage, as SG&A grew only 2.1% YoY while gross profit rose 8.1%. This suggests disciplined overhead control and efficient scaling of the distribution network. The EPS beat of $3.09 versus $2.42 estimate underscores the flow-through of incremental revenue to the bottom line, though sustainability depends on maintaining volume growth.

Earnings Quality Solid but SBC Rising

Net income margin reached 18.9% in Q2 2026, up from 16.4% a year ago, while stock-based compensation rose to $10.9M, the highest in ten quarters, as per the income statement data.

The increase in SBC from $6.5M in Q2 2025 to $10.9M in Q2 2026 warrants attention, as it may indicate growing equity-based compensation that could dilute shareholders over time. However, the effective tax rate appears stable, and no non-operating items distort net income. The quality of earnings appears high, with operating cash flow likely robust given the strong net income conversion.

SG&A Efficiency Drives Margin Expansion

SG&A as a percentage of revenue fell to 20.3% in Q2 2026 from 21.2% in Q2 2025, while R&D remained flat at 2.7% of sales, based on the latest quarterly data.

The decline in SG&A intensity suggests management's cost discipline and the benefits of scale from the ETANCO acquisition. R&D spending has been stable, indicating consistent investment in software and product development without overextending. However, the recent spike in SBC within SG&A could offset some efficiency gains if it continues to grow.

Q2 2026 Marks Operational Inflection

Q2 2026 delivered the highest operating margin (25.2%) and EPS ($3.09) in the ten-quarter period, signaling a potential inflection point in profitability, as reported in the income statement.

The combination of accelerating revenue growth and record margins suggests that SSD has successfully navigated the post-pandemic normalization and is now benefiting from operational leverage and mix improvements. This inflection may indicate a new phase of profitability, but investors should verify whether it is sustainable given the cyclicality of housing and potential margin dilution from international expansion.

Housing Downturn and Modular Threat

Despite strong Q2 2026 results, SSD's revenue growth remains tied to US housing starts, and a shift toward multi-family and modular construction could reduce demand for traditional wood connectors, as per industry analysis.

Short-sellers might argue that the current margin peak is unsustainable, as steel price volatility and a potential housing slowdown could compress margins. Additionally, the rise of off-site construction could bypass SSD's dealer network, eroding its specification moat. The maintained guidance may not fully account for these structural risks, and the stock's premium valuation could be vulnerable if growth decelerates.

SSD — Frequently Asked Questions

Quick answers to the most common questions about buying SSD stock.

What was Simpson Manufacturing Co., Inc.'s (SSD) revenue in 2025?

For fiscal year 2025, Simpson Manufacturing Co., Inc. (SSD) reported total revenue of $2.33B. This represents a 1052.6% increase compared to $202.4M in 1996.

Is Simpson Manufacturing Co., Inc. (SSD) profitable?

Simpson Manufacturing Co., Inc. (SSD) is profitable, generating $345.1M in net income for the fiscal year ending 2025 with a net profit margin of 14.8%.

What is Simpson Manufacturing Co., Inc.'s operating profit margin?

Simpson Manufacturing Co., Inc. (SSD) reported an operating income of $442.6M, resulting in an operating profit margin of 19.0%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Simpson Manufacturing Co., Inc.'s gross profit and gross margin?

Simpson Manufacturing Co., Inc. (SSD) generated $1.07B in gross profit for the year, representing a gross profit margin of 45.9%. This demonstrates the company's core pricing power and production efficiency.