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MascoMAS

Legal name
Masco Corporation
Sector
Other
Industry
Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures
Exchange
NYSE

Stock Price $MAS

Latest filings

You are here#106 of 116 in Industrials by market cap

Filing record · 2016–202610-K1110-Q338-K95

MAS filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 95 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Deal closed8-K · Feb ’20Feb ’20
  3. Leadership change8-K · Feb ’22Feb ’22
  4. Leadership change8-K · Jan ’26Jan ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $7.56B
YoY changeLargest recent move−18.3%in FY17Latest −3.4%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All MAS Financial Metrics59 metrics

Income Statement13

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

Masco Financial Overview 2021–2025

Updated Nov 5, 2026

Masco's diluted earnings per share more than doubled, from $1.62 in FY2021 to $3.86a in FY2025, even though sales shrank over the same stretch. That gap is the story. Masco is a margin-and-buyback earnings machine, not a growth business. The FY2021 base was also depressed by a $430 million pension expense, so the starting line flatters the climb.

Net sales slid from $8.4 billion in FY2021 to $7,562 millionb in FY2025, including a 3% drop in the latest year. Gross margin ended at 35.4%, up from 34.2% at the start. Operating profit fell 8% to $1,248 million in FY2025, a 16.5% margin. Decorative Architectural Products carried the damage: sales fell 14% to $2,570 million. Plumbing rose 3% to $4,992 million, but tariffs cut its operating profit by 2%. The Home Depot still accounted for about 38% of sales.

Buybacks did the heavy lifting. Share count fell from roughly 0.24 billion to 0.20 billion. Operating cash flow was $1,022 millionc in FY2025, and the Board authorized a new $2.0 billion repurchase program. The cost is a thin balance sheet: debt was 97% of total capitalization at year-end. At the close of FY2025, shares traded at $63.46, or 16.4x earnings, for a $13.0 billion market cap.

Recent Developments (Q2 and Q3 2026)

Masco's Q2 2026 earnings got a one-time lift. Net sales fell 3% to $1,992 million, yet operating profit rose to $470 milliond from $412 million. About $95 million came from IEEPA tariff refunds, mostly in Plumbing. Gross margin reached 43.6%. Q3 2026 was cleaner: sales rose 3% to $1,966 million, gross margin expanded to 36.6% from 34.2%, and diluted EPS hit $1.17 versus $0.90. Management raised 2026 adjusted EPS guidance twice, to $4.65–$4.75. It also sold Bristan for $65 million in Q3 2026.

Bull case: pricing is lifting sales and margins, and guidance keeps rising. Bear case: total equity fell to $(193) million by September 30, 2026, long-term debt rose to $3,245 millione, and refunds flatter results. The stock traded at 19.7x earnings as of October 27, 2026, up from the year-end multiple. That date is the filing date, not today.

What to watch: whether Q4 2026 margins hold without tariff refunds; how the $300 million term loan and buybacks affect leverage

03—Filings

Recent SEC Filings

  1. 8-KMasco 8-K Report, Financial Results (Oct 28, 2026)Masco Corporation reported third quarter 2026 results on October 28, 2026. Net sales increased 3 percent to $1,966 million, or 4 percent in local currency and excluding the divestiture of Bristan. Reported operating profit rose 12 percent to $338 million, with operating margin of 17.2 percent. Adjusted operating margin was 17.9 percent, and adjusted earnings per share grew 23 percent to $1.19. Reported earnings per share were $1.17, compared with $0.90 a year earlier. Plumbing Products net sales rose 4 percent, Decorative Architectural Products were flat, and North American net sales increased 5 percent in local currency, while International net sales decreased 5 percent in local currency (down 1 percent excluding the divestiture). The company returned $322 million to shareholders through dividends and share repurchases in the quarter. Nine-month cash flow from operating activities was $981 million, and net cash from operating activities was $788 million after working capital changes. Share repurchases for the nine months totaled $852 million. Total liquidity at September 30, 2026 was $1,610 million, including $1,000 million of revolver availability. Long-term debt increased to $3,245 million from $2,945 million at December 31, 2025, and the company reported total equity of $(193) million at September 30, 2026, compared with $76 million at year-end 2025. Management raised its 2026 adjusted earnings per share guidance to $4.65 to $4.75 from the prior range of $4.40 to $4.60, and now expects reported earnings per share of $4.51 to $4.61. The Board declared a quarterly dividend of $0.32 per share, payable November 23, 2026 to shareholders of record on November 6, 2026. Management noted that it expects near-term demand to remain challenged, while describing repair and remodel fundamentals as long-term strong.
  2. 8-KMasco 8-K Report, Financial Results (Jul 29, 2026)Masco Corporation reported second quarter 2026 results, with net sales of $1,992 million, down 3 percent from $2,051 million in the second quarter of 2025. Currency had a minimal impact on reported sales. Plumbing Products net sales decreased 3 percent and Decorative Architectural Products net sales decreased 4 percent. In local currency, North American sales decreased 5 percent and International sales increased 4 percent. Reported operating profit rose 14 percent to $470 million, and reported operating margin expanded 350 basis points to 23.6 percent. Reported diluted earnings per share were $1.60, up 25 percent from $1.28. On an adjusted basis, operating profit grew 17 percent to $482 million and adjusted earnings per share grew 26 percent to $1.64. Management stated that the quarter included a net benefit of approximately $95 million from IEEPA tariff refunds, which drove much of the adjusted profit growth. CEO Jon Nudi said the underlying performance remains largely in line with the prior outlook. Masco raised its 2026 adjusted earnings per share guidance to $4.40 to $4.60 from $4.10 to $4.30, citing an anticipated full-year net benefit of approximately $85 million from IEEPA tariff refunds. Reported 2026 EPS guidance is $4.21 to $4.41. Capital returns were $454 million in the quarter through dividends and share repurchases. Total liquidity was $1,548 million at quarter end, including $1,000 million of revolver availability. Long-term debt increased to $3,245 million from $2,945 million at December 31, 2025, and the six-month cash flow statement shows $300 million of term loan proceeds. Equity was a deficit of $118 million at June 30, 2026, compared with $76 million at December 31, 2025.
  3. 8-KMasco 8-K Report, Bylaw Amendment (May 14, 2026)Masco Corporation reported the results of its 2026 annual meeting of stockholders, held May 8, 2026, where stockholders approved amendments to the Company's Certificate of Incorporation. The amendments move the advance notice provisions for stockholder nominations into the Bylaws and adjust the advance notice period, enable adoption of a stockholder right to call a special meeting, and limit the liability of certain officers as permitted by law. On May 12, 2026, the Company filed a Certificate of Amendment with the Delaware Secretary of State to implement these changes. The Board also approved an amended and restated Bylaws, effective May 8, 2026. Under the revised Section 1.02, holders of 25% or more of the voting power who have owned their shares continuously for at least one year may request that the Board call a special meeting. Section 1.06 now sets the time period and procedural and information requirements for director nominations by stockholders. At the meeting, 202,913,475 shares of common stock were outstanding and entitled to vote. All four director nominees, Gary A. Coombe, Aine L. Denari, Christopher A. O'Herlihy and Charles K. Stevens III, were elected to serve until the 2027 annual meeting. Stockholders also approved the non-binding advisory say-on-pay proposal, ratified PricewaterhouseCoopers LLP as independent auditors for 2026, and approved the three charter amendments. A stockholder proposal on the right to call a special meeting did not pass, with 75,159,758 votes for and 100,995,648 against. For investors, the filing mainly documents governance changes. The most notable is the adoption of a special meeting right, which the Board implemented through the Bylaws with a 25% ownership threshold, while the separate stockholder proposal on the same topic was defeated.
  4. 8-KMasco 8-K Report, Financial Results (Apr 22, 2026)Masco Corporation reported first quarter 2026 results in a press release (Exhibit 99) dated April 22, 2026. Net sales increased 6 percent to $1,918 million, or 4 percent in local currency. Plumbing Products net sales rose 9 percent, while Decorative Architectural Products net sales were in line with the prior year. Reported operating profit increased 10 percent to $316 million, with operating margin of 16.5 percent. Adjusted operating profit rose 13 percent to $324 million, and adjusted operating margin was 16.9 percent, up 90 basis points. Reported earnings per share were $1.05 versus $0.87 a year earlier, and adjusted earnings per share grew 20 percent to $1.04. Capital allocation remained a focus. The company repurchased 3.1 million shares for $202 million and returned $267 million to shareholders through dividends and share repurchases during the quarter. Liquidity at quarter end was $1,261 million, including $873 million of revolver availability, and cash and cash investments declined to $388 million from $647 million at December 31, 2025. Notes payable rose to $129 million from $2 million. Management maintained its 2026 guidance, with reported earnings per share of $3.91 to $4.11 and adjusted earnings per share of $4.10 to $4.30. CEO Jon Nudi cited a dynamic macroeconomic and geopolitical environment as the reason for maintaining rather than raising the adjusted outlook.
  5. 8-KMasco 8-K Report, Executive Changes (Apr 21, 2026)Masco Corporation disclosed in this Form 8-K, dated April 21, 2026, that Jai Shah, its Group President, Plumbing and Wellness, will conclude his service with the Company on July 3, 2026. The filing describes an agreement with Mr. Shah dated April 16, 2026 that sets out his separation compensation. Under that agreement, Mr. Shah will receive a cash payment of $1,206,000. He will also receive a 2026 cash bonus based on his individual target opportunity and the Company's 2026 annual performance, prorated through his last day of employment. In addition, he will receive the cash equivalent of an annual restricted stock unit award, prorated through his last day of employment, and a share award under the 2024-2026 Long-Term Incentive Program if the performance goals are met, prorated for his time employed during the performance period. The agreement also provides a cash payment equal to the value of his remaining unvested RSUs under the retention incentive agreement entered into March 5, 2025, based on the Company's closing price on March 6, 2027. The Company and Mr. Shah have also agreed that he has forfeited those same remaining unvested RSUs under that retention agreement.
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04—See also

Related Companies

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