At a glance
Masco Corporation is worth $16.10B, about 22 times its fiscal 2025 earnings. Revenue fell 3.4% to $7.56B in fiscal 2025, with 10.7% kept as profit; over 5 years it has grown 1.0% a year. It pays a 1.52% dividend yield, raised every year for at least 9 years, and returned $4.86B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +31.3% over the past year with dividends reinvested and +7.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 39.2% in the 2020 crash (S&P 500: 33.7%) and 34.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 15 months after the lows.
The business in plain English
Masco designs, makes and distributes branded products for repairing, remodeling and building homes. Its main brands include BEHR paint, DELTA and HANSGROHE faucets and showers, LIBERTY cabinet and door hardware, and HOT SPRING spas. Most products reach people through middlemen: home centers, online retailers, wholesalers and distributors resell them to plumbers, contractors, remodelers, homebuilders and do-it-yourselfers.
Masco reports two business segments, or divisions. Plumbing Products is the larger, bringing in $4.99 billion, or 66% of Masco's $7.56 billion in 2025 revenue. It covers faucets, showerheads, tubs, shower bases and plumbing system parts, plus spas, exercise pools and saunas. Decorative Architectural Products supplied the other 34%, or $2.57 billion. Its core is BEHR and KILZ paint, primer and stain, which alone made up about 31% of total company sales. This segment's sales usually peak in the second and third quarters, the busy season for home projects.
The Home Depot is Masco's largest customer. Masco gives it exclusive rights to sell BEHR paint in North American retail stores, which ties much of the paint business to one retailer. By region, North America produced 78.7% of 2025 revenue and the rest of the world 21.3%. Outside North America, its faucet and shower brands sell mainly in Europe and China.
Price history
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MAS +31.3% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Plumbing Products | $4.99B | 66% |
| Decorative Architectural Products | $2.57B | 34% |
By geography
| North America | $5.95B | 78.7% |
| International | $1.61B | 21.3% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.97B, up 2.6% from a year earlier, and net income was $230.0M (+21.7%).
- For fiscal 2025, revenue was $7.56B (-3.4% year over year; +1.0% a year from FY2020 to FY2025) with a 10.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +1.0% watch |
|---|---|
| Operating margin | 16.5% good |
| Free cash flow margin | 11.5% good |
| Return on assets (FY2025) | 15.6% good |
| Net cash (cash minus debt) | $-2.64B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $7.19B | $1.22B | $839.0M |
| FY2021 | $8.38B | $410.0M | $802.0M |
| FY2022 | $8.68B | $844.0M | $616.0M |
| FY2023 | $7.97B | $908.0M | $1.17B |
| FY2024 | $7.83B | $822.0M | $907.0M |
| FY2025 | $7.56B | $810.0M | $866.0M |
Valuation snapshot
| Market value | $16.10B |
|---|---|
| P/E ratio | 21.6 |
| Dividend yield | 1.52% |
Rank among 1514 US companies
Market value at each year end
Masco’s market value went from $10.38B at the end of 2016 to $16.10B on Nov 2, 2026, up 55%; since the end of 2025 it is up 22%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $16.10B | +22.1% |
| 2025 | $13.18B | -15.8% |
| 2024 | $15.66B | +4.1% |
| 2023 | $15.04B | +42.9% |
| 2022 | $10.53B | -38.6% |
| 2021 | $17.14B | +19.2% |
| 2020 | $14.37B | +4.7% |
| 2019 | $13.73B | +53.7% |
| 2018 | $8.93B | -35.4% |
| 2017 | $13.82B | +33.1% |
| 2016 | $10.38B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| MAS price data to Nov 2, 2026 | +33.4% | +31.3% | +17.8% | +7.4% | +12.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +33.4% |
| 2025 | -10.9% |
| 2024 | +10.1% |
| 2023 | +46.6% |
| 2022 | -32.1% |
| 2021 | +29.6% |
| 2020 | +16.2% |
| 2019 | +66.3% |
| 2018 | -32.7% |
| 2017 | +40.6% |
| 2016 | +13.2% |
| 2015 | +29.4% |
| 2014 | +12.3% |
| 2013 | +39.0% |
| 2012 | +62.9% |
| 2011 | -14.8% |
| 2010 | -6.1% |
| 2009 | +30.2% |
| 2008 | -45.7% |
| 2007 | -25.2% |
| 2006 | +1.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 83.7% over that stretch · deepest drop along the way 83.7%, back to its old high 47.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 38.7% over that stretch · deepest drop along the way 39.2%, back to its old high 1.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 29.2% over that stretch · deepest drop along the way 34.1%, back to its old high 14.6 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 5 sales ($5.1M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 12, 2026 | Kenneth G. Cole VP, General Counsel and Sec. | sell | $2.1M |
| Feb 12, 2026 | Kenneth G. Cole VP, General Counsel and Sec. | sell | $1.9M |
| Mar 7, 2026 | Lisa A Payne Director | sell | $938K |
| Mar 7, 2026 | Lisa A Payne Director | sell | $128K |
| Feb 26, 2026 | Heath M Eisman VP, Controller and CAO | sell | $54K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.35% | Mar 31, 2026 |
| Vanguard Portfolio Management | 6.07% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.3% | Jun 30, 2026 |
| HARRIS ASSOCIATES L P | 4.2% | Mar 31, 2026 |
ETFs with the most weight in MAS
| FIW First Trust Water ETF | 3.65% |
| MVAL VanEck Morningstar Wide Moat Value ETF | 2.5% |
| MOTE VanEck Morningstar ESG Moat ETF | 2.43% |
| ITB iShares U.S. Home Construction ETF | 2.19% |
| DVLU First Trust Dorsey Wright Momentum & Value ETF | 1.6% |
| SMOT VanEck Morningstar SMID Moat ETF | 1.27% |
| RSPN Invesco S&P 500 Equal Weight Industrials ETF | 1.18% |
| LSAF LeaderShares AlphaFactor US Core Equity ETF | 0.95% |
What could go wrong
- Heavy reliance on The Home Depot. The Home Depot is Masco's largest customer and holds exclusive North American retail rights to BEHR paint. Masco says losing that segment's Home Depot sales would materially hurt the paint business and the whole company.
- Tariffs are raising plumbing costs. Masco has faced significantly higher costs from duties and tariffs, mainly in Plumbing Products, tied to China and other countries. Higher costs can force price increases and squeeze profits.
- Volatile metal, resin and pigment prices. Faucets use brass, mostly copper and zinc. Paint relies on acrylic resins and titanium dioxide, and its costs track oil and natural gas. Price spikes or shortages can squeeze profits and disrupt production.
- Home remodeling spending can dry up. Sales rely mainly on repair and remodeling, and less on new homes. High mortgage rates, weak home sales, falling home prices, job losses or a recession can cut spending on home projects.
- Tough rivals and cheaper store brands. Masco competes with Moen, Kohler, Sherwin-Williams, Benjamin Moore and others, plus store brands, online-only brands and low-cost foreign makers that push faucet prices down. Falling behind on brands or innovation could cost market share.
- Debt and restrictive loan terms. As of September 30, 2026, Masco had $3.25 billion of debt against $610 million of cash and investments. Restrictive covenants (rules set by lenders) in its credit agreement could limit its financial flexibility.
Recent events
- Quarterly results released
- Quarterly results released
- Bylaws or fiscal year changed; Shareholder vote results
- Quarterly results released
- Executive or board change
- Major agreement signed; Major agreement ended; New debt or financial obligation
- Executive or board change
- Quarterly results released
- Executive or board change
- Executive or board change
For income and retirement investors
Masco pays a modest but growing dividend. Dividends per share rose from $0.55 in 2020 to $1.24 in 2025, about 17.7% a year, and SEC filings show at least nine straight annual increases. The 2025 payout used about 32% of earnings and 30% of free cash flow (cash left after capital spending). The yield was 1.67% as of October 28, 2026. Buybacks (the company repurchasing its own shares) are bigger: $3.6 billion from 2021 through 2025, versus $1.2 billion in dividends. The share count fell about 20% from January 2022 to September 2026.
The stock has fallen hard in downturns. It dropped about 84% in the 2008 financial crisis and did not regain its peak until February 2013. It fell 39% in the 2020 COVID crash but recovered by May 2020, and lost 34% in the 2022 bear market, recovering by December 2023. Single stocks like Masco carry more risk than diversified funds.
Questions investors ask
How does Masco make money?
Masco makes money selling branded home improvement products, mostly through retailers and wholesalers. In 2025, Plumbing Products, which includes DELTA and HANSGROHE faucets and showers, tubs, plumbing parts and HOT SPRING spas, brought in $4.99 billion, or 66% of revenue. Decorative Architectural Products, led by BEHR and KILZ paint plus LIBERTY hardware, brought in $2.57 billion, or 34%. Total revenue was $7.56 billion, and net income was $810 million, about 10.7 cents of profit per dollar of sales.
Does Masco raise its dividend every year?
Yes, as far as SEC records go back. Filings covering 2016 through 2025 show a dividend increase every year, at least nine in a row, and the true streak may be longer. Dividends per share reached $1.24 in 2025, and the company raised its quarterly dividend about 7% compared with 2024. The 2025 dividend used about 32% of earnings. The yield was 1.67% as of October 28, 2026. Past increases do not guarantee future ones.
How much does Masco rely on Home Depot?
Heavily. The Home Depot is Masco's largest customer overall and the biggest customer of its paint segment. Masco grants it exclusive rights to BEHR paint in North American retail stores, plus exclusivity for KILZ primer in big-box home improvement stores and some US online marketplaces. Architectural coatings made up about 31% of Masco's 2025 sales. The company says losing Home Depot's sales in that segment would materially hurt both the segment and the whole business.
Does Masco have a lot of debt?
Masco carries meaningful debt. As of September 30, 2026, it had $3.25 billion of total debt and $610 million of cash and investments, or net debt of about $2.64 billion. Shareholders' equity (assets minus liabilities on the balance sheet) was negative $448 million. Its annual report warns that restrictive covenants (rules set by lenders) in its credit agreement could limit financial flexibility. For scale, Masco generated $866 million of free cash flow, the cash left after capital spending, in 2025.
How has Masco stock performed over the long term?
Masco shares have gained over the long run, with large swings along the way. As of October 28, 2026, they returned 11.2% a year over ten years (189% in total), 5% a year over five years, 16.2% a year over three years and 13.2% over one year. Calendar years vary widely: the stock lost 32.1% in 2022 and 10.9% in 2025, but gained 46.6% in 2023. It fell about 84% in the 2008 financial crisis and took until February 2013 to recover.