# Masco Corporation (MAS) — Stock CV

Masco Corporation is a $13.6B industrial company. Revenue shrank 0.6% over the last year, it keeps 12¢ of every dollar of sales as profit, and its net debt equals ~2.0 years of free cash flow. It trades at 15.3× earnings — in the cheapest third of its own history.

> Masco is a global manufacturer of branded home improvement products, with a focus on plumbing fixtures (70% of revenue) and decorative architectural coatings (30% of revenue).

## Identity

- **Ticker**: MAS
- **Sector**: Industrials
- **Industry**: Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures
- **Headquarters**: LIVONIA, MI
- **Employees**: 18 000
- **Website**: https://www.masco.com
- **Market cap**: $13.6B
- **Last price**: $68.75
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $7.62B
- **Net income**: $885M
- **Free cash flow**: $1.13B
- **Net debt**: $2.30B
- **P/E**: 15.3
- **Revenue growth (YoY)**: -0.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 95 |
| Growth | 25 |
| Profitability | 90 |
| Health | 66 |
| Quality | 90 |
| Moat | 75 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [ ] Revenue growing — -0.6% YoY
- [x] Profitable — $885M TTM
- [x] Profit growing — +2.0% YoY
- [x] Generates cash — $1.13B TTM
- [x] Debt under control — ~2.0y of cash flow to repay
- [x] Established company — $13.6B market cap
- [x] Not printing shares — +1.2% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [x] Financially stable — Altman Z 2.8 — grey
- [x] Pays a dividend — yield 1.93%
- [x] Valuation not extreme — P/E 15.3

## Experience (career milestones)

- **2021** — Masco acquired Steamist Co., Inc., a steam bath manufacturer in East Rutherford, New Jersey, in July 2021
- **FY2020** — Best year on record: $1.22B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $7.36B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2001** — Masco Corp., or simply Masco, entered the windows business and had operating profits beyond a billion dollars
- **2000** — Heartland Industrial Partners, a private equity firm, purchased Masco Tech and changed its name to Metaldyne
- **1999** — Masco Corp acquired Arrow Fastener Co., Inc., a hand tool company expanding its business in the hardware…
- **1999** — Masco involved itself in the architectural coatings business by purchasing Behr
- **1993** — The remainder of Masco Industries became Masco Tech Inc. and in 1993 was listed on the NYSE
- **1988** — Masco reorganized its numerous companies; in 1988, the specialty products divisions of Masco Industries and Masco…
- **1975** — Masco first appeared on the Fortune 500, and Masco's annual sales exceeded one billion dollars for the…
- **1961** — Masco Screw Products Company changed its name to Masco Corporation
- **1930** — The company's first contract came in 1930 with the Hudson Motor Company valued at $7,000.00

## Strengths

- Interest covered 12.2× by operating earnings
- High returns on invested capital (ROIC 38.3%)

## Watch-outs

- Revenue shrinking 0.6% year over year

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $8.38B | $410M | $802M |
| FY2022 | $8.68B | $844M | $616M |
| FY2023 | $7.97B | $908M | $1.17B |
| FY2024 | $7.83B | $822M | $907M |
| FY2025 | $7.56B | $810M | $866M |

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Source: https://stockcv.com/MAS — derived from company filings; may be delayed or incomplete. Information, not investment advice.