olivLaw · US equity research
Masco Corporation MAS
Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures · SIC 3430 · Vertical: Fabricated metal products (SIC 34xx)
Masco Corporation is a global maker of branded home improvement products, with net sales of $7.562 billion in fiscal 2025. In the first six months of 2026 net sales reached $3.910 billion, and management raised adjusted EPS guidance to $4.40-$4.60, mainly because of tariff refunds.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Masco Corporation (MAS) stock was 83.83 USD (−3.44% on the day), with market capitalisation 16.2 bn USD, P/E 18.2 on diluted EPS of 4.62 USD over the last 12 months, dividend yield 1.51%, beta 1.00, 52-week range 58.60–86.82 USD. Latest reported quarter (Q3 2026): revenue of 2.0 bn USD (+2.6% YoY), net income of 230.0 m USD (+21.7% YoY), diluted EPS 1.17 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 67.8
- strong (55–70)
- Bollinger (20, 2)
- 65.78 – 86.47
- in the upper half of the band · %B 0.87 · band width 27.2%
- SMA 50 / 200
- 72.10 / 71.15
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 3.56 / 2.54
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +19.9% | −5.9% | +25.8 pp | — |
| 3 months | +11.1% | −4.6% | +15.7 pp | — |
| 6 months | +16.5% | +0.2% | +16.3 pp | — |
| Year to date | +32.1% | +7.4% | +24.7 pp | — |
| 1 year | +32.2% | +8.2% | +24.0 pp | +7.8% |
| 3 years | +53.4% | +68.4% | −15.0 pp | +30.1% |
| 5 years | +30.6% | +56.5% | −25.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.8 bn | 1.8 bn | 2.1 bn | 1.9 bn | 1.8 bn | 1.9 bn | 2.0 bn | 2.0 bn |
| Cost of revenue | 1.2 bn | 1.2 bn | 1.3 bn | 1.3 bn | 1.2 bn | 1.2 bn | 1.1 bn | 1.2 bn |
| Gross profit | 636.0 m | 644.0 m | 772.0 m | 656.0 m | 606.0 m | 686.0 m | 868.0 m | 720.0 m |
| SG&A | 345.0 m | 358.0 m | 361.0 m | 353.0 m | 354.0 m | 369.0 m | 397.0 m | 381.0 m |
| Operating income | 290.0 m | 286.0 m | 412.0 m | 303.0 m | 247.0 m | 316.0 m | 470.0 m | 338.0 m |
| Depreciation & amortisation | 37.0 m | 35.0 m | 36.0 m | 38.0 m | 39.0 m | 38.0 m | 38.0 m | 37.0 m |
| Interest expense | 24.0 m | 26.0 m | 26.0 m | 25.0 m | 24.0 m | 26.0 m | 28.0 m | 29.0 m |
| Pre-tax income | 258.0 m | 254.0 m | 378.0 m | 276.0 m | 227.0 m | 291.0 m | 440.0 m | 322.0 m |
| Income tax | 65.0 m | 56.0 m | 95.0 m | 76.0 m | 51.0 m | 63.0 m | 107.0 m | 82.0 m |
| Net income | 182.0 m | 186.0 m | 270.0 m | 189.0 m | 165.0 m | 213.0 m | 318.0 m | 230.0 m |
| Diluted EPS | 0.84 ≈ | 0.87 | 1.28 | 0.90 | 0.80 ≈ | 1.05 | 1.60 | 1.17 |
| Operating cash flow | 407.0 m | -158.0 m | 306.0 m ≈ | 456.0 m ≈ | 418.0 m | -79.0 m | 496.0 m ≈ | 371.0 m ≈ |
| Capex | 56.0 m | 32.0 m | 36.0 m ≈ | 41.0 m ≈ | 47.0 m | 34.0 m | 43.0 m ≈ | 39.0 m ≈ |
| Dividends paid | 63.0 m | 66.0 m | 66.0 m ≈ | 65.0 m ≈ | 64.0 m | 65.0 m | 64.0 m ≈ | 62.0 m ≈ |
| Share repurchases | 269.0 m | 130.0 m | 101.0 m ≈ | 123.0 m ≈ | 217.0 m | 202.0 m | 390.0 m ≈ | 260.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 48 percentile of its own 44-quarter history (min 7.2, median 18.3, max 43.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.7 bn | 6.7 bn | 7.2 bn | 8.4 bn | 8.7 bn | 8.0 bn | 7.8 bn | 7.6 bn |
| Revenue YoY | +10.6% | +0.8% | +7.2% | +16.5% | +3.6% | −8.2% | −1.7% | −3.4% |
| Net income | 734.0 m | 935.0 m | 1.2 bn | 410.0 m | 844.0 m | 908.0 m | 822.0 m | 810.0 m |
| Net income YoY | +37.7% | +27.4% | +30.9% | −66.5% | +105.9% | +7.6% | −9.5% | −1.5% |
| Diluted EPS | 2.37 | 3.22 | 4.59 | 1.62 | 3.63 | 4.02 | 3.76 | 3.86 |
| Diluted EPS YoY | +42.8% | +35.9% | +42.5% | −64.7% | +124.1% | +10.7% | −6.5% | +2.7% |
| net % | 11.0% | 13.9% | 17.0% | 4.9% | 9.7% | 11.4% | 10.5% | 10.7% |
| Free cash flow | 813.0 m | 671.0 m | 839.0 m | 802.0 m | 616.0 m | 1.2 bn | 907.0 m | 866.0 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 647.0 m USD
- Financial debt
- 2.9 bn USD
- Net debt
- 2.3 bn USD
- Equity
- 76.0 m USD
- Total assets
- 5.2 bn USD
- Debt / equity
- 38.75x
- Current ratio
- 1.81x
- ROE
- unavailable
- ROA
- 15.9%
- FCF margin
- 11.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 7.2 bn | 8.4 bn | 8.7 bn | 8.0 bn | 7.8 bn | 7.6 bn | SEC (XBRL)· 10 Feb 2026verified |
| Cost of revenue | 4.6 bn | 5.5 bn | 6.0 bn | 5.1 bn | 5.0 bn | 4.9 bn | SEC (XBRL)· 10 Feb 2026verified |
| Gross profit | 2.6 bn | 2.9 bn | 2.7 bn | 2.8 bn | 2.8 bn | 2.7 bn | SEC (XBRL)· 10 Feb 2026verified |
| SG&A | 1.3 bn | 1.4 bn | 1.4 bn | 1.5 bn | 1.5 bn | 1.4 bn | SEC (XBRL)· 10 Feb 2026verified |
| Operating income | 1.3 bn | 1.4 bn | 1.3 bn | 1.3 bn | 1.4 bn | 1.2 bn | SEC (XBRL)· 10 Feb 2026verified |
| Depreciation & amortisation | 133.0 m | 151.0 m | 145.0 m | 149.0 m | 150.0 m | 148.0 m | SEC (XBRL)· 10 Feb 2026verified |
| EBITDA | 1.4 bn ≈ | 1.6 bn ≈ | 1.4 bn ≈ | 1.5 bn ≈ | 1.5 bn ≈ | 1.4 bn ≈ | SEC (XBRL)· 10 Feb 2026derived |
| Interest expense | 144.0 m | 278.0 m | 108.0 m | 106.0 m | 99.0 m | 101.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Pre-tax income | 1.1 bn | 688.0 m | 1.2 bn | 1.2 bn | 1.2 bn | 1.1 bn | SEC (XBRL)· 10 Feb 2026verified |
| Income tax | 269.0 m | 210.0 m | 288.0 m | 278.0 m | 287.0 m | 277.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Net income | 1.2 bn | 410.0 m | 844.0 m | 908.0 m | 822.0 m | 810.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Diluted EPS | 4.59 | 1.62 | 3.63 | 4.02 | 3.76 | 3.86 | SEC (XBRL)· 10 Feb 2026verified |
| Weighted average diluted shares | 264.0 m | 251.0 m | 232.0 m | 226.0 m | 219.0 m | 210.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Dividend per share | 0.55 | 0.71 | 1.12 | 1.14 | 1.16 | 1.24 | SEC (XBRL)· 10 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.3 bn | 926.0 m | 452.0 m | 634.0 m | 634.0 m | 647.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Inventories | 876.0 m | 1.2 bn | 1.2 bn | 1.0 bn | 938.0 m | 1.0 bn | SEC (XBRL)· 10 Feb 2026verified |
| Current assets | 3.5 bn | 3.4 bn | 2.9 bn | 2.9 bn | 2.7 bn | 2.8 bn | SEC (XBRL)· 10 Feb 2026verified |
| Property, plant & equipment, net | 908.0 m | 896.0 m | 975.0 m | 1.1 bn | — | — | SEC (XBRL)· 08 Feb 2024verified |
| Goodwill | 563.0 m | 568.0 m | 537.0 m | 604.0 m | 597.0 m | 623.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Intangibles (excl. goodwill) | 357.0 m | 388.0 m | 350.0 m | 377.0 m | 220.0 m | 205.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Total assets | 5.8 bn | 5.6 bn | 5.2 bn | 5.4 bn | 5.0 bn | 5.2 bn | SEC (XBRL)· 10 Feb 2026verified |
| Accounts payable | 893.0 m | 1.0 bn | 877.0 m | 840.0 m | 789.0 m | 810.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Long-term debt | 2.8 bn | 2.9 bn | 2.9 bn | 2.9 bn | 2.9 bn | 2.9 bn | SEC (XBRL)· 10 Feb 2026verified |
| Current liabilities | 1.9 bn | 1.9 bn | 1.9 bn | 1.7 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 10 Feb 2026verified |
| Total liabilities | 5.4 bn | 5.5 bn | 5.4 bn | 5.2 bn | 5.1 bn | 5.1 bn | SEC (XBRL)· 10 Feb 2026verified |
| Equity | 421.0 m | 56.0 m | -262.0 m | 98.0 m | -53.0 m | 76.0 m | SEC (XBRL)· 10 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 953.0 m | 930.0 m | 840.0 m | 1.4 bn | 1.1 bn | 1.0 bn | SEC (XBRL)· 10 Feb 2026verified |
| Capex | 114.0 m | 128.0 m | 224.0 m | 243.0 m | 168.0 m | 156.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Free cash flow | 839.0 m ≈ | 802.0 m ≈ | 616.0 m ≈ | 1.2 bn ≈ | 907.0 m ≈ | 866.0 m ≈ | SEC (XBRL)· 10 Feb 2026derived |
| Investing cash flow | 531.0 m | -12.0 m | -230.0 m | -383.0 m | -50.0 m | -144.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Financing cash flow | -886.0 m | -1.3 bn | -1.1 bn | -854.0 m | -1.0 bn | -888.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Dividends paid | 145.0 m | 211.0 m | 258.0 m | 257.0 m | 254.0 m | 261.0 m | SEC (XBRL)· 10 Feb 2026verified |
| Share repurchases | 727.0 m | 1.0 bn | 914.0 m | 353.0 m | 751.0 m | 571.0 m | SEC (XBRL)· 10 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 63 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 16.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality88
- Growth7
- Balance sheet70
- Returns100
- Valuation66
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 16.29 – 139.47 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)55.08 – 96.51 (Mid 70.66)WACC 8.5% · starting FCFF 1.1 bn USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 1.6%
- Peers: EV/EBITDA73.40 – 88.09 (Mid 80.84)12 companies used · median multiple 12.0x · quartiles 11.0x – 12.9xACA, ACU, CXT, EML, GFF, HLMN, JBI, MWA, SNA, SSD, VATE, VMI
- Peers: P/E77.68 – 139.47 (Mid 94.44)26 companies used · median multiple 20.5x · quartiles 16.8x – 30.2xACA, ACU, BALL, CCK, CR, CXT, EML, GFF, JBI, LCUT, MTRN, MWA, OFLX, PH, PKOH, PRLB, RGR, SLGN, SNA, SSD, SWK, TRS, VMI, WTS, XPEL, ZJK
- Dividend discount (DDM)16.29 – 21.91 (Mid 18.69)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 63/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 12.1% | 77 (vs peers) | 7% |
| FCF conversion · Quality | 112.6% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -4.5% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 2.1% | 14 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 1.7x | 45 (vs peers) | 12% |
| Interest coverage · Balance sheet | 12.8x | 100 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 1.8x | 86 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 18.2x | 69 (vs peers) | 12% |
| EV/EBITDA · Valuation | 12.3x | 50 (vs peers) | 12% |
| FCF yield · Valuation | 6.5% | 81 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 8.2% | 100 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 24.4% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet70/100 · 3/3 factors with a value
- Growth7/100 · 2/2 factors with a value
- Quality88/100 · 2/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation66/100 · 3/3 factors with a value
Memo
Masco Corporation (MAS). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 7.6 bn USD in 2025; YoY growth -3.4%; net margin 12.1%; net debt/EBITDA 1.7x.
The estimated value range is 64.24–92.30 USD per share (median of 4 methods, agreement: high); assumptions are illustrative. Against the central value of 75.75 USD, the price of 83.83 USD leaves a potential of -9.6% (value / price − 1) and a margin of safety of -10.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 63/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 12.1%
- FCF conversion: 112.6%
- Interest coverage: 12.8x
- Current ratio: 1.8x
- FCF yield: 6.5%
- Shareholder yield (distributions): 8.2%
- Payout ratio (FCF): 24.4%
What contradicts it
- Revenue CAGR 3Y: -4.5%
- EPS CAGR 3Y: 2.1%
Not assessed (insufficient data or a ratio without meaning): ROIC.
Versus the vertical median
Fabricated metal products (SIC 34xx) · same major group (2-digit SIC) · compared with 39 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| PHParker-Hannifin Corporation | 112.5 bn | 30.6 | 25.0% | 16.6% | +8.3% | +4% / +106% |
| AXONAxon Enterprise, Inc. | 31.1 bn | 158.5 | 6.2% | 6.2% | +33.5% | −29% / +66% |
| SNASnap-on Inc | 18.9 bn | 19.1 | 17.0% | 19.2% | unavailable | +8% / +33% |
| BALLBall Corporation | 17.4 bn | 33.7 | 9.6% | 3.5% | +11.6% | +35% / +21% |
| SWKStanley Black & Decker, Inc. | 17.1 bn | 20.6 | 9.4% | 5.5% | unavailable | +61% / +27% |
| MASMasco Corporation | 16.2 bn | 18.2 | — | 12.1% | −3.4% | +32% / +53% |
| CCKCrown Holdings, Inc. | 13.2 bn | 17.0 | 26.7% | 5.8% | +4.8% | +26% / +42% |
| CRCrane Company | 11.4 bn | 34.0 | 16.2% | 12.4% | +8.2% | +8% / +87% |
| SSDSimpson Manufacturing Co., Inc. | 8.1 bn | 21.5 | 18.3% | 15.6% | +4.5% | +19% / +19% |
| VMIValmont Industries, Inc. | 7.6 bn | 15.1 | 30.8% | 12.1% | +0.7% | −4% / +81% |
| ACAArcosa, Inc. | 7.3 bn | 14.9 | 17.9% | 17.9% | +12.2% | +46% / +116% |
| GFFGriffon Corporation | 4.6 bn | 26.1 | 185.4% | 6.5% | −3.9% | +37% / +120% |
| SLGNSilgan Holdings Inc | 4.4 bn | 16.8 | 11.0% | 3.9% | +10.7% | +5% / −0% |
| MWAMueller Water Products, Inc. | 3.8 bn | 17.4 | 21.7% | 15.0% | +8.7% | +2% / +85% |
| MTRNMaterion Corporation | 3.7 bn | 36.3 | 10.5% | 4.6% | +6.0% | +45% / +57% |
| CXTCrane Nxt, Co. | 3.4 bn | 26.3 | 10.5% | 7.1% | +11.4% | +5% / +15% |
| HLMNHillman Solutions Corp. | 1.7 bn | 66.6 | 2.0% | 1.5% | +5.4% | −3% / +17% |
| PRLBProto Labs, Inc. | 1.5 bn | 44.2 | 5.1% | 6.0% | +6.4% | +24% / +74% |
| TRSTrimas Corporation | 1.4 bn | 1.6 | 83.9% | 136.2% | +2.4% | +11% / +48% |
| XPELXpel, Inc. | 1.1 bn | 20.3 | 19.5% | 10.8% | +13.3% | −14% / −12% |
| SMRNuscale Power Corporation | 1.0 bn | — | -13.0% | -6,817.0% | −15.0% | −78% / +58% |
| RGRSturm, Ruger & Company, Inc. | 790.9 m | 49.0 | 5.7% | 2.7% | +1.9% | +64% / +13% |
| JBIJanus International Group, Inc. | 650.8 m | 19.8 | 6.0% | 3.7% | unavailable | −23% / −55% |
| PKOHPark-Ohio Holdings Corp | 573.1 m | 16.1 | 9.0% | 2.0% | −3.4% | +85% / +74% |
| ACUAcme United Corp | 263.9 m | 28.9 | 8.4% | 4.6% | +1.1% | +86% / +91% |
1- and 3-year price returns: for MAS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 46.90 Total return -43% · Per year -43% | 83.30 Total return 1% · Per year 1% | 126.02 Total return 52% · Per year 52% |
| 3 years | 37.66 Total return -52% · Per year -22% | 75.99 Total return -5% · Per year -2% | 127.30 Total return 57% · Per year 16% |
| 5 years | 30.24 Total return -59% · Per year -16% | 69.31 Total return -10% · Per year -2% | 128.59 Total return 63% · Per year 10% |
- Exit P/E± 19.00
- Net margin± 13.30
- Annual revenue growth± 11.94
- Annual dilution± 1.12
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
In brief
Masco Corporation is a global maker of branded home improvement products, with net sales of $7.562 billion in fiscal 2025 1. In the first six months of 2026 net sales reached $3.910 billion 2, and management raised adjusted EPS guidance to $4.40-$4.60, mainly because of tariff refunds 3.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Dependence on one major customerhigh
BEHR sales depend on The Home Depot, and losing this customer would materially affect the segment and the company 1.
- Tariffs and trade policyhigh
Tariffs and changes in trade policy could raise the cost of imported products, especially in plumbing 12.
- Renovation demandmedium
A drop in repair and remodel activity, mortgage access or consumer confidence could reduce sales volumes 1.
- Raw material costsmedium
Prices of brass, copper, zinc and resins are volatile and could hurt margins if they cannot be passed on to customers 1.
- International exposurelow
The share of sales outside North America could be affected by unfavorable currency moves and geopolitical tensions 1.
Investment thesis
What would need to be true (bull case)
- The margin rebound in the second quarter of 2026 and raised guidance could suggest that pricing and cost actions are working 3.
- Strong brands and the ability to return significant capital to shareholders point to a solid financial position 3.
- If restructuring and the Liberty integration deliver savings, profitability could hold up even after tariff refunds end 2.
What would break the thesis
- The second-quarter tariff benefit is one-off and could mask weaker North American volumes 23.
- Reliance on existing homes and renovation could leave sales exposed to an economic slowdown 1.
- Intense competition and price pressure from low-cost products could limit the company's ability to keep high margins 1.
What to watch
- Delivery of the adjusted EPS guidance of $4.40-$4.602026
- North American volume trends and consumer confidence effectsQ3 2026
- Actual cash receipt of IEEPA tariff refunds and their effect on costsQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
The business
Masco Corporation designs, manufactures and distributes branded home improvement and building products, including BEHR paint, DELTA and HANSGROHE faucets, LIBERTY hardware and HOT SPRING spas 1. The company reports in two segments, Plumbing Products and Decorative Architectural Products, and most sales come from residential repair and remodel activity rather than new construction 1. At December 31, 2025 it employed approximately 18,000 people and repurchased about 8.5 million shares during 2025 1.
Architectural coatings made up approximately 31 percent of consolidated net sales in 2025 1, making the decorative segment an important but concentrated part of the business. BEHR products are sold through The Home Depot, the company's largest customer, which holds exclusivity rights in certain channels, so a change in that relationship could affect sales 1.
The company aims for above-market growth through a consumer-driven strategy built on its brands, expanded commercial capabilities and operational excellence 2. Liberty Hardware is being integrated into Delta Faucet and will be reported within Plumbing Products starting with the first quarter of 2026 1.
Segments
Plumbing Products
This segment covers faucets, showering systems, acrylic tubs, spas and plumbing components, sold mainly through home center retailers and distributors, with 2025 net sales of $4.992 billion 1. Sales rose on higher net selling prices while tariff and commodity costs pressured margins.
Market context
Demand depends on residential repair and remodel activity, consumer confidence, mortgage availability and home prices 1. In the first half of 2026 North American volumes declined while International sales grew 3.
The company says demand could diminish further if consumer confidence erodes and prices of its products rise, while input cost inflation persists 2. New home construction plays a secondary role in its strategy 1.
Trends
- Tariffs and IEEPA refundsmixed
The U.S. Supreme Court ruled IEEPA tariffs unlawful and the company began receiving refunds, with a net benefit of about $95 million in the second quarter of 2026 23. This benefit could be temporary, since higher tariffs raised costs during 2025 1.
- Raw material cost pressureheadwind
Brass, copper, zinc, resins and titanium dioxide have become more expensive, and energy costs have risen, which weighed on margins 12. If these costs stay high, the company could need further pricing actions.
- Restructuring and reorganizationmixed
The company began restructuring actions in the fourth quarter of 2025 and the Liberty integration, with further charges expected in 2026 2. Savings could support margins, though near-term costs may weigh on profit.
Competitive position
In plumbing, competitors include Dornbracht, Moen (Fortune Brands), Kohler, American Standard (Lixil) and Zurn Elkay, along with private label and digitally native brands 1. Competition rests on brand reputation, innovation, quality and price, and low-cost imports add pressure 1.
In coatings the company competes with Sherwin-Williams, PPG, Benjamin Moore, RPM and Pittsburgh Paints, and in hardware with Richelieu and Amerock 1. Brand reputation is an important factor for consumers, which can favor established brands like Masco's 1.
- Fortune Brands InnovationsFBIN
Owns the Moen brand, a main rival in faucets and bath hardware 1.
- The Sherwin-Williams CompanySHW
Major coatings competitor with brands such as Minwax, Valspar and Thompson's Water Seal 1.
- Kohler Co.
Privately held maker of faucets, baths and showering products that competes directly with Masco's bath lines 1.
- PPG IndustriesPPG
Paint maker with brands such as Glidden and Olympic, competing in architectural coatings 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Strong Volume Growth and Intact Pricing Lifted Masco Corporation (MAS) in Q2Yahoo Finance — News · 15 Sept 2026 · EN
The latest news item in our archive is from 15 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report28 Oct 2026
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report14 May 2026Amendments to articles or bylaws · Shareholder vote
- Quarterly report22 Apr 2026
- Current report22 Apr 2026Results of operations · Financial statements and exhibits
- Current report21 Apr 2026Departure or appointment of officers
- Proxy statement10 Apr 2026
- Current report26 Mar 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Masco Corporation · 10 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Masco Corporation · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Masco Corporation · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.