$68.48+0.20 (+0.30%)
Market open · 15-min delayed · as of 12:10 PM ET
Masco Corp. · Financials
Is this a real, growing, cash-generative business, or a story propped up by accounting?
Business engineChoppy: revenue fell 3.4% in FY25, net margin 11.3%, and free cash flow (~$866.0M) tracks net income. Earnings are cash, not paper. Worth your attention in FY25: Returns vs FCF (101%). Visible in the receipts below.
The four lines that matter · FY21–FY25
Revenue ($M)▼3.4%
7,562.0
FY21→FY25CAGR −2.5%/yr
Net income ($M)▼1.8%
858.0
FY21→FY25CAGR +15.7%/yr
Free cash flow ($M)▼4.5%
866.0
FY21→FY25CAGR +1.9%/yr
Diluted EPS▲2.7%
3.86
buyback-liftedCAGR +24.2%/yr
What the receipts whisper · what a headline number hides
Share count
−15.1%
239.9mn → 203.6mn diluted shares since FY21. Part of EPS growth is the shrinking denominator. Watch net income too.
Capex
$156.0M
steady at 2.1% of revenue (−7.1% YoY).
Returns vs FCF
101%
$877.0M returned vs $866.0M of FCF in FY25. The gap comes off the balance sheet (see net cash).
What the income statement says · FY21–FY25
Where every revenue dollar goes · FY25 ($M)
11¢ of every revenue dollar becomes profit. The biggest cost lever is COGS.
Margin trend · direction beats level Gross Operating Net
Over this window: gross 34.2% → 35.4%. Net margin 11.3% is above the sector median.
The receipt · income statement · FY21–FY25 USD millions except per-share & ratios · hover a line for its definition
| Line item | TTM † | FY25 | FY24 | FY23 | FY22 | FY21 | YoY | CAGR 21→25 |
|---|---|---|---|---|---|---|---|---|
| Revenue & profitability | ||||||||
Revenue | 7,620.0 | 7,562.0 | 7,828.0 | 7,967.0 | 8,680.0 | 8,375.0 | ▼3.4% | −2.5% |
Cost of revenue | 4,804.0 | 4,883.0 | 4,997.0 | 5,131.0 | 5,967.0 | 5,512.0 | ▼2.3% | −3.0% |
Gross profit | 2,817.0 | 2,679.0 | 2,831.0 | 2,836.0 | 2,713.0 | 2,863.0 | ▼5.4% | −1.6% |
Selling, general & admin | 1,473.0 | 1,426.0 | 1,468.0 | 1,473.0 | 1,390.0 | 1,413.0 | ▼2.9% | +0.2% |
Total operating expenses | 1,478.0 | 1,431.0 | 1,468.0 | 1,488.0 | 1,416.0 | 1,458.0 | ▼2.5% | −0.5% |
Operating incomefeeds ROC rank | 1,336.0 | 1,248.0 | 1,363.0 | 1,348.0 | 1,297.0 | 1,405.0 | ▼8.4% | −2.9% |
Other income, net | −102.0 | −113.0 | −202.0 | −110.0 | −104.0 | −717.0 | — | — |
Pretax income | 1,234.0 | 1,135.0 | 1,161.0 | 1,238.0 | 1,193.0 | 688.0 | ▼2.2% | +13.3% |
Income tax | 296.0 | 277.0 | 287.0 | 278.0 | 288.0 | 210.0 | ▼3.5% | +7.2% |
Net incomePiotroski ROA ✓feeds Buffett Quality owner earnings | 938.0 | 858.0 | 874.0 | 960.0 | 905.0 | 478.0 | ▼1.8% | +15.7% |
| Per share | ||||||||
Diluted EPSbuyback-sensitive | 4.36 | 3.86 | 3.76 | 4.02 | 3.63 | 1.62 | ▲2.7% | +24.2% |
Diluted shares (mn) | 197.19 | 203.61 | 211.98 | 219.76 | 225.20 | 239.93 | ▼4.0% | −4.0% |
| Margins | ||||||||
Gross margin52nd pct in Industrials | 37.0% | 35.4% | 36.2% | 35.6% | 31.3% | 34.2% | ▼0.7pp | +1.2pp |
Operating margin | 17.5% | 16.5% | 17.4% | 16.9% | 14.9% | 16.8% | ▼0.9pp | −0.3pp |
Net margin70th pct in Industrials | 12.3% | 11.3% | 11.2% | 12.0% | 10.4% | 5.7% | ▲0.2pp | +5.6pp |
† TTM = trailing four quarters through 2026-06-30.
5 more years of statements and CSV export are on Premium, and 14 more on Ultimate.Premium · $119/yr · 7-day trial · cancel anytimeUnlock with Premium →
These lines feed the tenet checklists: see which gates passTenets →Margins & returns continue as sector-ranked ratiosStatistics →
Annual report filed 2026-02-10 · view filings on SEC EDGAR ↗ · reported currency USD · as-filed figures may be later restated.
Statements normalized in our fundamentals DB · Not investment advice.
Statements normalized in our fundamentals DB · Not investment advice.
Annual and quarterly statements as filed, normalized into one comparable shape · Not investment advice.