Brunswick (BC) financial statements
Brunswick reported revenue of $5.4B in fiscal 2025, up 2.0% a year over 9 years.
Net income was -$137M and the operating margin -0.8%, against 10.7% in 2016.
Free cash flow was $396M, and the company returned $113M in dividends and $80M in net buybacks.
The diluted share count fell 28% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Brunswick's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.5B | $3.8B | $4.1B | $4.1B | $4.3B | $5.8B | $6.8B | $6.4B | $5.2B | $5.4B |
| Cost of revenue | $3.3B | $2.9B | $3.1B | $3.0B | $3.1B | $4.2B | $4.9B | $4.6B | $3.9B | $4.0B |
| Gross profit | $1.2B | $1.3B | $1.0B | $1.1B | $1.2B | $1.7B | $1.9B | $1.8B | $1.4B | $1.3B |
| Research and development | $139M | $112M | $122M | $122M | $126M | $154M | $203M | $185M | $170M | $169M |
| Selling, general and admin | $598M | $458M | $515M | $510M | $544M | $698M | $771M | $812M | $748M | $851M |
| Operating income | $480M | $330M | $356M | $471M | $539M | $813M | $948M | $735M | $312M | -$41M |
| Interest expense | $28M | $26M | $46M | $76M | $67M | $66M | $98M | $112M | $127M | $112M |
| Pre-tax income | $390M | $213M | $311M | $111M | $473M | $736M | $854M | $629M | $203M | -$136M |
| Income tax | $115M | $112M | $57M | $80M | $98M | $141M | $172M | $196M | $54M | $200,000 |
| Net income | $276M | $146M | $265M | -$131M | $373M | $593M | $677M | $420M | $130M | -$137M |
| EPS (diluted) | $3.00 | $1.62 | $3.01 | -$1.53 | $4.68 | $7.57 | $9.00 | $5.96 | $1.93 | -$2.08 |
| Diluted shares | 92M | 90M | 88M | 86M | 80M | 78M | 75M | 70M | 67M | 66M |
| Gross margin | 26.3% | 33.2% | 25.4% | 27.3% | 27.9% | 28.5% | 28.6% | 27.9% | 25.8% | 24.8% |
| Operating margin | 10.7% | 8.7% | 8.6% | 11.5% | 12.4% | 13.9% | 13.9% | 11.5% | 5.9% | -0.8% |
| Net margin | 6.1% | 3.9% | 6.4% | -3.2% | 8.6% | 10.1% | 9.9% | 6.6% | 2.5% | -2.6% |
Balance sheet
Fiscal years, from Brunswick's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $469M | $459M | $304M | $333M | $587M | $368M | $613M | $480M | $287M | $276M |
| Receivables | $412M | $485M | $352M | $332M | $338M | $485M | $543M | $493M | $429M | $523M |
| Inventory | $699M | $828M | $774M | $824M | $712M | $1.2B | $1.5B | $1.5B | $1.3B | $1.2B |
| Total current assets | $1.7B | $1.8B | $1.9B | $1.5B | $1.7B | $2.1B | $2.7B | $2.5B | $2.1B | $2.1B |
| Property, plant and equipment | $569M | $706M | $694M | $796M | $864M | $1.0B | $1.3B | $1.3B | $1.3B | $1.2B |
| Goodwill | $414M | $34M | $377M | $415M | $418M | $888M | $968M | $1.0B | $966M | $681M |
| Total assets | $3.3B | $3.4B | $4.3B | $3.6B | $3.8B | $5.4B | $6.3B | $6.2B | $5.7B | $5.3B |
| Total current liabilities | $965M | $1.0B | $1.3B | $944M | $1.1B | $1.4B | $1.5B | $1.8B | $1.3B | $1.4B |
| Long-term debt | $434M | $432M | $1.2B | $1.1B | $908M | $1.8B | $2.4B | $2.0B | $2.1B | $1.8B |
| Total liabilities | $1.8B | $1.9B | $2.7B | $2.3B | $2.3B | $3.5B | $4.3B | $4.1B | $3.8B | $3.7B |
| Shareholders' equity | $1.4B | $1.5B | $1.6B | $1.3B | $1.5B | $1.9B | $2.0B | $2.1B | $1.9B | $1.6B |
| Net debt | $17M | -$11M | $926M | $789M | $432M | $1.5B | $1.9B | $2.0B | $2.1B | $1.8B |
Cash flow
Fiscal years, from Brunswick's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $435M | $400M | $337M | $434M | $798M | $574M | $586M | $734M | $431M | $562M |
| Capital spending | $194M | $178M | $180M | $233M | $182M | $267M | $388M | $289M | $167M | $166M |
| Free cash flow | $241M | $222M | $157M | $202M | $616M | $307M | $198M | $444M | $264M | $396M |
| Stock-based compensation | $16M | $16M | $17M | $17M | $27M | $30M | $22M | $22M | $23M | $39M |
| Dividends paid | $55M | $61M | $68M | $73M | $78M | $99M | $109M | $112M | $112M | $113M |
| Share buybacks (net) | -$120M | -$130M | -$75M | -$400M | -$118M | -$120M | -$450M | -$275M | -$200M | -$80M |
| Net borrowing | -$2M | -$3M | $1.1B | -$117M | -$159M | $866M | $683M | -$82M | -$216M | -$413M |
| Free cash flow margin | 5.4% | 5.8% | 3.8% | 4.9% | 14.2% | 5.2% | 2.9% | 6.9% | 5.0% | 7.4% |
| Dividends per share | $0.60 | $0.67 | $0.77 | $0.86 | $0.98 | $1.26 | $1.44 | $1.59 | $1.67 | $1.71 |
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Open BC in InvestinglyQuestions
What was Brunswick's revenue in 2025?
$5.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Brunswick generate?
$396M in fiscal 2025 (operating cash flow minus capital spending).
From Brunswick's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.