MasterBrand (MBC) financial statements
MasterBrand reported revenue of $2.7B in fiscal 2025, down 1.1% a year over 4 years.
Net income was $27M and the operating margin 4.4%, against 8.2% in 2021.
Free cash flow was $118M, and the company returned $18M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MasterBrand's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.9B | $3.3B | $2.7B | $2.7B | $2.7B |
| Cost of revenue | $2.1B | $2.3B | $1.8B | $1.8B | $1.9B |
| Gross profit | $784M | $940M | $901M | $877M | $828M |
| Selling, general and admin | $528M | $648M | $570M | $603M | $668M |
| Operating income | $234M | $203M | $306M | $236M | $119M |
| Interest expense | $0 | $2M | $65M | $74M | $74M |
| Pre-tax income | $238M | $213M | $239M | $168M | $46M |
| Income tax | $56M | $58M | $57M | $42M | $20M |
| Net income | $183M | $155M | $182M | $126M | $27M |
| EPS (diluted) | $1.43 | $1.20 | $1.40 | $0.96 | $0.21 |
| Diluted shares | 128M | 129M | 130M | 131M | 129M |
| Gross margin | 27.5% | 28.7% | 33.1% | 32.5% | 30.3% |
| Operating margin | 8.2% | 6.2% | 11.2% | 8.7% | 4.4% |
| Net margin | 6.4% | 4.7% | 6.7% | 4.7% | 1.0% |
Balance sheet
Fiscal years, from MasterBrand's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $141M | $101M | $149M | $121M | $183M |
| Receivables | — | $290M | $203M | $191M | $150M |
| Inventory | — | $373M | $250M | $276M | $269M |
| Total current assets | — | $830M | $677M | $651M | $696M |
| Property, plant and equipment | — | $353M | $357M | $482M | $503M |
| Goodwill | $926M | $924M | $925M | $1.1B | $1.1B |
| Total assets | — | $2.5B | $2.4B | $2.9B | $3.1B |
| Total current liabilities | — | $411M | $349M | $395M | $416M |
| Long-term debt | — | $962M | $690M | $1.0B | $974M |
| Total liabilities | — | $1.5B | $1.2B | $1.6B | $1.8B |
| Shareholders' equity | $2.5B | $1.0B | $1.2B | $1.3B | $1.3B |
| Net debt | -$141M | $878M | $559M | $887M | $791M |
Cash flow
Fiscal years, from MasterBrand's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $148M | $236M | $406M | $292M | $196M |
| Capital spending | $52M | $56M | $57M | $81M | $78M |
| Free cash flow | $97M | $180M | $348M | $211M | $118M |
| Stock-based compensation | $9M | $11M | $18M | $22M | $16M |
| Share buybacks (net) | $0 | $0 | -$22M | -$6M | -$18M |
| Net borrowing | $0 | $750M | -$38M | -$12M | $0 |
| Free cash flow margin | 3.4% | 5.5% | 12.8% | 7.8% | 4.3% |
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Open MBC in InvestinglyQuestions
What was MasterBrand's revenue in 2025?
$2.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does MasterBrand generate?
$118M in fiscal 2025 (operating cash flow minus capital spending).
From MasterBrand's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.