At a glance
Brunswick Corporation is worth $4.46B. Revenue grew 2.4% to $5.36B in fiscal 2025, at a loss; over 5 years it has grown 4.3% a year. It pays a 3.12% dividend yield, raised every year for at least 9 years, and returned $1.67B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +0.3% over the past year with dividends reinvested and −3.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 58.9% in the 2020 crash (S&P 500: 33.7%) and 37.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 18 months after the lows.
The business in plain English
Brunswick designs, builds and markets products for recreational boating. Its Mercury brand makes outboard engines from 2.5 to 600 horsepower, plus inboard and sterndrive engines and Avator electric motors. It also builds boats under names such as Sea Ray, Bayliner and Lund, makes Simrad marine electronics, and runs Freedom Boat Club, the world's largest boat club. Club members pay an initiation fee and monthly dues to share boats at about 440 locations, with over 60,000 memberships in all.
Most boats and parts reach customers through more than 20,000 independent dealers and distributors. The engine business supplies over 900 boat builders, including Brunswick's own boat brands. Outboard engines were the biggest product line, at 31.8% of $5.36 billion in revenue for the year ended December 31, 2025. Parts distribution added 13.4% and aluminum freshwater boats 10.7%.
Brunswick reports four segments. For 2025, net sales were $2.18 billion in Propulsion, $1.53 billion in Boat, $1.22 billion in Engine Parts & Accessories and $800 million in Navico Group (marine and RV electronics and power systems). These add up to more than the company total because the boat brands get engines and parts from the other segments. The United States made up 67.4% of revenue, Europe 14.6% and Asia-Pacific 7%.
Price history
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BC +0.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Outboard Engines | $1.70B | 31.8% |
| Distribution | $717.0M | 13.4% |
| Aluminum Freshwater Boats | $575.7M | 10.7% |
| Engine Parts and Accessories | $500.5M | 9.3% |
| Recreational Fiberglass Boats | $456.3M | 8.5% |
| Controls, Rigging, and Propellers | $342.8M | 6.4% |
| Saltwater Fishing Boats | $333.2M | 6.2% |
| Power Solutions | $276.7M | 5.2% |
| Business Acceleration | $208.9M | 3.9% |
| Sterndrive Engine | $130.7M | 2.4% |
| Performance Solutions | $125.6M | 2.3% |
By geography
| United States | $3.61B | 67.4% |
| Europe | $781.9M | 14.6% |
| Asia-Pacific | $377.6M | 7% |
| Rest of World | $317.9M | 5.9% |
| Canada | $317.7M | 5.9% |
Latest results
- In Q2 FY2026 (ended Jul 4, 2026), revenue was $1.56B, up 7.7% from a year earlier, and net income was $109.8M (+85.2%).
- For fiscal 2025, revenue was $5.36B (+2.4% year over year; +4.3% a year from FY2020 to FY2025) with a -2.6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +4.3% watch |
|---|---|
| Operating margin | -0.8% weak |
| Free cash flow margin | 7.4% watch |
| Return on equity (FY2025) | -8.4% weak |
| Return on assets (FY2025) | -2.6% weak |
| Net cash (cash minus debt) | $-1.81B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.35B | $372.7M | $615.9M |
| FY2021 | $5.85B | $593.3M | $306.9M |
| FY2022 | $6.81B | $677.0M | $197.8M |
| FY2023 | $6.40B | $420.4M | $444.3M |
| FY2024 | $5.24B | $130.1M | $264.0M |
| FY2025 | $5.36B | $-137.3M | $396.3M |
Valuation snapshot
| Market value | $4.46B |
|---|---|
| P/E ratio | — |
| Dividend yield | 3.12% |
Rank among 1514 US companies
Market value at each year end
Brunswick’s market value went from $4.89B at the end of 2016 to $4.46B on Oct 28, 2026, down 9%; since the end of 2025 it is down 8%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $4.46B | -7.6% |
| 2025 | $4.83B | +13.1% |
| 2024 | $4.27B | -35.9% |
| 2023 | $6.66B | +27.4% |
| 2022 | $5.23B | -32.7% |
| 2021 | $7.77B | +30.0% |
| 2020 | $5.97B | +22.1% |
| 2019 | $4.89B | +21.4% |
| 2018 | $4.03B | -16.8% |
| 2017 | $4.84B | -1.0% |
| 2016 | $4.89B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BC price data to Oct 28, 2026 | -5.3% | +0.3% | +2.9% | -3.9% | +6.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -5.3% |
| 2025 | +18.1% |
| 2024 | -31.8% |
| 2023 | +36.9% |
| 2022 | -27.1% |
| 2021 | +33.8% |
| 2020 | +29.1% |
| 2019 | +31.4% |
| 2018 | -14.8% |
| 2017 | +2.6% |
| 2016 | +9.5% |
| 2015 | -0.5% |
| 2014 | +12.5% |
| 2013 | +58.7% |
| 2012 | +61.4% |
| 2011 | -3.3% |
| 2010 | +47.9% |
| 2009 | +203.3% |
| 2008 | -74.7% |
| 2007 | -44.9% |
| 2006 | -20.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 89.8% over that stretch · deepest drop along the way 91.1%, back to its old high 16.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 58.2% over that stretch · deepest drop along the way 58.9%, back to its old high 3.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 30.4% over that stretch · deepest drop along the way 37.9%, back to its old high 18.3 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 4 sales ($2.2M), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| May 26, 2026 | David M Foulkes Chief Executive Officer | sell | $2.1M |
| Feb 19, 2026 | Nancy E Cooper Director | sell (plan) | $17K |
| Aug 3, 2026 | Nancy E Cooper Director | sell (plan) | $16K |
| May 1, 2026 | Nancy E Cooper Director | sell (plan) | $15K |
Who owns it
Large shareholders (13G filings)
| Massachusetts Financial Services Company | 6.4% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.28% | Mar 31, 2026 |
| Vanguard Capital Management | 5.27% | Mar 31, 2026 |
| Turtle Creek Asset Management Inc. | 4.5% | Sep 30, 2025 |
| FMR LLC | 4% | Sep 30, 2025 |
| HARRIS ASSOCIATES L P | 3.7% | Dec 31, 2025 |
ETFs with the most weight in BC
| CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF | 0.73% |
| SYLD Cambria Shareholder Yield ETF | 0.62% |
| SMOT VanEck Morningstar SMID Moat ETF | 0.48% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.48% |
| FNK First Trust Mid Cap Value AlphaDEX Fund | 0.28% |
| IVOV Vanguard S&P Mid-Cap 400 Value ETF | 0.28% |
| JHSC John Hancock Multifactor Small Cap ETF | 0.28% |
| MADE iShares U.S. Manufacturing ETF | 0.26% |
What could go wrong
- Dealer inventory cuts and repurchase obligations. Most sales go through dealers, who cut inventory when demand weakens, which reduces orders. If a dealer defaults on its floor plan loan (credit used to stock boats), Brunswick may have to repurchase that inventory.
- Reliance on a few big customers. MarineMax, the Boat Group's largest dealer, is a significant customer. So is White River Marine Group, the maker of Tracker and Ranger boats, which uses Brunswick engines and electronics. Losing either could hurt sales.
- Tariffs raise costs and invite retaliation. Brunswick pays meaningful tariffs, including on steel, aluminum and goods from China. Other countries have hit back with tariffs on US goods, and competition may limit how much of the cost it can pass on.
- Boat buyers depend on borrowing. Many boats are bought with loans. If interest rates stay high or credit tightens, customers pay more to borrow or cannot get financing at all, and dealers find it harder to fund their inventory.
- Boats are easy purchases to postpone. Most Brunswick products are recreational. In a downturn, households delay big non-essential spending, and the company may have to cut prices. That could also lead to write-downs of asset values.
- Fixed costs magnify sales declines. Plants, equipment and other fixed costs stay largely the same when demand falls. So a drop in sales can reduce profits by a larger percentage than the sales decline itself.
Recent events
- Quarterly results released
- Executive or board change
- Quarterly results released
- Quarterly results released
- Quarterly results released
- Other company announcement
- Other company announcement
- Other company announcement
For income and retirement investors
Brunswick's dividend per share rose each year from fiscal 2016 to 2025. That makes at least 9 straight increases, and the streak may be longer. It paid $1.72 per share in 2025, up from $0.99 in 2020, a gain of about 11.7% a year. With a 2025 net loss of $2.08 per share, earnings did not cover the dividend. It did use 28.4% of free cash flow (cash left after capital spending). The dividend yield was 3.12% as of October 28, 2026. Over fiscal 2021–2025, Brunswick spent $1.13 billion on buybacks (repurchasing its own shares) and $544 million on dividends. Shares outstanding fell 16% between October 2021 and July 2026, though buybacks slowed to $80 million in 2025.
In downturns the stock has fallen hard: 91.1% in the 2008 crisis, 58.9% in the 2020 COVID crash and 37.9% in the 2022 bear market. It took 16.9, 3.4 and 18.3 months to recover from those lows. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Brunswick make money?
Mainly from engines, boats, parts and marine electronics, sold largely through independent dealers and to boat builders. Outboard engines were the largest product line, at 31.8% of the $5.36 billion in revenue for 2025. Parts and accessories distribution followed at 13.4% and aluminum freshwater boats at 10.7%. Smaller sources of revenue include Freedom Boat Club fees, dealer and retail financing, and extended warranties. The United States accounted for 67.4% of revenue.
Does Brunswick raise its dividend every year?
Yes, so far. Dividends per share rose every year from fiscal 2016 to fiscal 2025. That is at least 9 consecutive annual increases, and the true streak may be longer. The dividend grew from $0.99 per share in 2020 to $1.72 in 2025, about 11.7% a year. In 2025 it took 28.4% of free cash flow, even though the company reported a net loss. The dividend yield was 3.12% as of October 28, 2026. Past increases do not guarantee future ones.
Was Brunswick profitable in 2025?
No. For the year ended December 31, 2025, Brunswick reported a net loss of $137.3 million, or $2.08 per diluted share, on revenue of $5.36 billion. Revenue was up 2.4% from 2024. The company still produced $396.3 million of free cash flow. In the second quarter of fiscal 2026, which ended July 4, 2026, it earned $109.8 million, up 85.2% from a year earlier. Revenue for that quarter rose 7.7% to $1.56 billion.
How much debt does Brunswick have?
About $2.10 billion of total debt as of July 4, 2026. It held $288.9 million of cash and investments, so net debt (debt minus cash) was about $1.81 billion. Shareholders' equity was $1.68 billion. The company's 10-K warns that weak capital markets could make it harder or more costly to refinance long-term debt or to fund working capital, capital spending and dividends.
How has Brunswick stock performed over the long term?
Unevenly. Based on price as of October 28, 2026, the shares returned 6.7% a year over 10 years (91% in total). Over five years they lost 3.9% a year, and over one year they gained 0.3%. Swings are large: the stock fell 31.76% in 2024 and rose 18.07% in 2025. Its deepest drop from a peak over the prior three years was 56.5%. Its one-year beta of 1.26 means it moved more than the overall market.