Masco (MAS) 10-K Summary — Year Ended Dec 31, 2024
The company is a global leader in branded home improvement and building products, operating through two segments. In the most recent annual period, revenue decreased compared to the prior year, while operating income, net income, and operating cash flow all declined.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
The company is a global leader in branded home improvement and building products, operating through two segments. In the most recent annual period, revenue decreased compared to the prior year, while operating income, net income, and operating cash flow all declined.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$7.8B
Revenue reported for the fiscal year.
Operating income
$1.4B
Income from operations reported for the year.
Net income
$822M
Net income reported for the year.
Operating cash flow
$1.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $8.4B | n/a |
| Dec 31, 2022 | $8.7B | +3.6% |
| Dec 31, 2023 | $8B | -8.2% |
| Dec 31, 2024 | $7.8B | -1.7% |
Business overview
Masco Corporation designs, manufactures, and distributes branded home improvement and building products globally. Its portfolio includes well-known brands for paint, faucets and bath fixtures, decorative hardware, and spas. The company reports in two segments: Plumbing Products and Decorative Architectural Products, with the latter experiencing seasonal strength in the second and third calendar quarters.
Financial performance
Revenue for the period was lower than the prior year. Operating income and net income also decreased compared to the prior year. Operating cash flow was lower than the prior year.
Material risks
The filing cautions that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially. It notes that cash and cash investments held in foreign subsidiaries could be affected by changes in financial markets. The company also faces risks common to the home improvement industry, including seasonality in the Decorative Architectural Products segment.
Liquidity and capital
The company maintains high liquidity and focuses on cash generation. Its capital allocation strategy includes reinvesting in the business, maintaining an investment grade credit rating, paying a relevant dividend, and deploying excess free cash flow to share repurchases or acquisitions.
What to watch
Monitor revenue trends in the Decorative Architectural Products segment given its seasonal nature and recent overall revenue decline.