Revenue growth accelerated to 9.1% in 2026Q1, while the company successfully maintained a robust 45.2% gross margin despite ongoing integration of international acquisitions.
| 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 | 2.38B | 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 % | 6.31% | 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 | 1.3B | 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 | 1.08B | 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 % | 45.54% | 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 | 615.41M | 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 | 547.91M | 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 | 81.28M | 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 | -1000K | 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 | 468.79M | 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 % | 19.68% | 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 | 563.25M | 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 % | 23.65% | 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 % | 7.46% | 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) | 94.47M | 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 | 357.99M | 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 | 7.23M | 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 | 7.23M | 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 | 5.5M | 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 | 474.29M | 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 % | 19.91% | 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 | 118.88M | 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 % | 25.06% | 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 | 355.42M | 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 % | 14.92% | 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 % | 9.46% | 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) | 355.42M | 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 | 0 | 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) | 8.59 | 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 % | 11.2% | 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 | 41.37M | 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 | 41.23M | 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% | - | - | - | - | - | - | - | - |
Cyclical housing market exposure
According to recent financial disclosures, Simpson Manufacturing achieved a 9.1% year-over-year revenue growth in 2026Q1, marking a notable acceleration from the low-single-digit growth observed throughout 2024, suggesting that the company's strategic focus on high-value structural connectors is successfully capturing increased demand despite broader housing market volatility.
The recent revenue uptick appears to reflect a successful pass-through of pricing power alongside a potential recovery in volume. Investors should monitor whether this growth trajectory remains sustainable as the company navigates the seasonal peaks typical of the construction industry.
As reported in quarterly filings, SSD maintained a robust gross margin of 45.2% in 2026Q1, demonstrating the company's ability to preserve pricing power even amidst fluctuating raw material costs and the integration of lower-margin international acquisitions like ETANCO into the broader product portfolio.
The stability of these margins suggests that the company's 'spec-in' moat remains intact, effectively insulating it from the commoditization risks faced by peers. This performance implies that the firm's proprietary engineering software continues to drive high-value product adoption, shielding profitability from cyclical downturns.
Based on the income statement data provided, operating income reached $114.6 million in 2026Q1, representing a significant expansion in operating margin to 19.5% as the company effectively managed its SG&A expenses relative to the recent surge in top-line revenue growth.
This trend indicates that the company is successfully leveraging its existing distribution network to support higher volumes without a commensurate increase in overhead. Such efficiency suggests that the high-touch sales model is becoming more scalable as the company integrates its recent acquisitions.
Analysis of the income statement reveals that net income reached $88.2 million in 2026Q1, with earnings quality appearing high due to the absence of stock-based compensation expenses in the most recent quarter, contrasting with the periodic charges observed in previous fiscal periods.
The variability in stock-based compensation warrants further investigation to determine if this reflects a shift in long-term incentive structures. Investors should remain cautious regarding how these non-operating items might distort the underlying earnings power of the business in future reporting cycles.
While current margins appear strong, a critical counter-narrative suggests that the recent shift toward multi-family and modular construction methods may eventually commoditize the connector category, potentially threatening the long-term sustainability of the 45% gross margin profile currently enjoyed by the company.
Short-term investors should monitor whether the integration of ETANCO leads to persistent margin dilution as the company expands its footprint in European markets. The reliance on US housing starts remains a structural vulnerability that could quickly reverse the current positive earnings momentum.
Quick answers to the most common questions about buying SSD stock.
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.
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%.
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.
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.