Griffon Corporation

Griffon, based in New York, is a holding company that runs its businesses through subsidiaries. The parent company allocates money among them, manages debt, and chooses which businesses to add or exit. It sold its specialty plastics business in 2018 and its Telephonics defense electronics unit in 2022 to focus on its core markets.

Home and Building Products, run as Clopay, brought in 62.9% of the company's $2.52 billion of revenue in the fiscal year ended September 30, 2025. Clopay is North America's largest maker of garage doors and rolling steel doors, the roll-up doors used on commercial and industrial buildings. Brands include Clopay, Ideal, Holmes, Cornell and Cookson. Customers include more than 3,000 installing dealers, and Clopay is the exclusive garage door supplier to Home Depot and Menards. Most sales come from home remodeling and renovation, the rest from commercial and new-home construction.

Consumer and Professional Products, the other 37.1%, offers tools, watering products, fans and home storage products under brands such as AMES, Hunter, True Temper and ClosetMaid. It sources many U.S. products from outside suppliers, after closing four plants and four wood mills. The United States produced 81% of revenue, Australia 11.5% and Canada 4.4%. An August 4, 2026 filing reported a completed acquisition or sale of assets, so this mix may have shifted.

• In Q3 FY2026 (ended Jun 30, 2026), revenue was $481.4M, up 7% from a year earlier, and net income was $51.6M.
• For fiscal 2025, revenue was $2.52B (-3.9% year over year; +4.0% a year from FY2020 to FY2025) with a 2% net margin.

• Over FY2021–FY2025: $671.4M in buybacks and $353.1M in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2016–FY2025) shows an increase; the true streak may be longer.
• Regular dividends per share grew +23.2% a year over 5 years (FY2020–FY2025).
• Dividends took 77.7% of earnings and 13% of free cash flow in the latest fiscal year.
• Shares outstanding changed -20.0% from Oct 31, 2021 to Jul 31, 2026.

Rank among 1514 US companies

Market value at each year end

Griffon’s market value went from $1.18B at the end of 2016 to $4.52B on Oct 28, 2026, about 3.8 times as much; since the end of 2025 it is up 33%.

Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 1 open-market purchases ($80K) and 47 sales ($32.8M), 43 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in GFF

1. Heavy reliance on Home Depot and Menards. Clopay is the exclusive garage door supplier to Home Depot and Menards. The annual report says losing either customer would materially harm Clopay and Griffon.
2. A large debt load. As of June 30, 2026, debt was about $1.27 billion, against $110 million of cash and $129 million of shareholders' equity. Interest costs eat into cash flow, and loan terms limit some corporate actions.
3. Dependence on overseas suppliers, especially China. The consumer products unit sources many U.S. products from overseas suppliers instead of making them, and the annual report singles out China. Supplier failures, shipping delays or trade changes could raise costs or disrupt supply.
4. Tied to housing and renovation. Both segments depend on home renovation, new home building and commercial construction. Higher interest rates, weaker job growth or lower consumer confidence can cut demand, and many products are purchases customers can put off.
5. Steel costs and inflation. Galvanized steel is Clopay's main raw material. If steel, labor or other costs rise faster than Griffon can raise prices, margins shrink, and raising prices too far can cost sales.
6. Acquisitions may not pay off. Griffon plans to keep growing partly through acquisitions. Deals can add expenses without a matching rise in revenue and income, and can pull management's attention away from existing operations.

• Aug 19, 2026 Major agreement signed; New debt or financial obligation; Other company announcement
• Aug 11, 2026 Major agreement signed; Other company announcement
• Aug 10, 2026 Investor presentation or announcement
• Aug 7, 2026 Other company announcement
• Aug 5, 2026 Quarterly results released
• Aug 4, 2026 Major agreement signed; Acquisition or sale of assets completed; Investor presentation or announcement; Other company announcement
• Jun 11, 2026 Major agreement signed; Investor presentation or announcement
• May 7, 2026 Quarterly results released
• Feb 18, 2026 Shareholder vote results
• Feb 5, 2026 Quarterly results released

Griffon pays a small but fast-growing dividend. Dividends per share have risen at least nine fiscal years in a row through FY2025. They grew from $0.30 in FY2020 to $0.85 in FY2025, about 23% a year. Dividends took 77.7% of FY2025 earnings, which fell sharply, but only 13% of free cash flow (cash left after running and investing in the business). The yield was 0.88% as of October 28, 2026, so income is modest. Griffon has spent more on repurchasing its own shares: $671 million from FY2021 to FY2025, versus $353 million in dividends. Shares outstanding fell 20% between October 2021 and July 2026.

The stock has dropped hard in crises: 56% in the 2008 financial crisis and 54% in the 2020 COVID crash, recovering by March 2010 and July 2020. In 2022 it fell 37% by late April but gained 16.7% over the market's full January–October slide. Single stocks carry more risk than diversified funds.