Company file · MAS

Masco

Masco's revenue fell 3.4% in FY2025, to $7.6B, and net income fell 1.5% to $810M

Revenue fell 3.4% to $7.6B in FY2025, from $7.8B in FY2024. Net income fell 1.5% to $810M. Plumbing Products was the largest segment, at 66% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 10, 2026) · Latest quarter: 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026) · Data pulled Nov 11, 2026

Key facts

Masco (NYSE: MAS) reported revenue of $7.6B for fiscal 2025, the year ended Dec 31, 2025, down 3.4% from fiscal 2024. Net income was $810M, down 1.5%. In its latest 10-Q, for the quarter ended Sep 30, 2026, revenue was $2.0B, up 2.6% from the same quarter a year earlier, and net income was $230M. The largest piece by segment was Plumbing Products, at 66% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 10, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026).

Revenue$7.6BFY2025 · −3.4% vs FY2024

Net income$810MFY2025 · −1.5% vs FY2024

Operating cash flow$1.0BFY2025 · −4.9% vs FY2024

Cash & equivalents$610Mat Sep 30, 2026 · −5.7% vs FY2025 end

Total debt$3.2Bat Sep 30, 2026 · +10.2% vs FY2025 end

Diluted shares210MFY2025 avg · −4.1% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Feb 10, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed Apr 22, 2026 · 10-Q filed Jul 29, 2026 · 10-Q filed Oct 28, 2026

How it makes money

By segment, FY2025

LineAmountSharevs FY2024
Plumbing Products$5.0B66%+2.9%
Decorative Architectural Products$2.6B34%−13.6%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: Plumbing Products (66%) and Decorative Architectural Products (34%), as shares of total revenue. Total revenue was $7.6B.

By segment: three-year mixShare of the total each fiscal year

FY2023

61%39%

FY2024

62%38%

FY2025

66%34%

Plumbing ProductsDecorative Architectural Products

Source: 10-K FY2025

By region, FY2025

North America$6.0B79%−5.0%

Non-US$1.6B21%+3.1%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue

$2.0B Q3 2026

$1.9B Q3 2025

2.6% increase

Net income

$230M Q3 2026

$189M Q3 2025

21.7% increase

Source: Masco 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026

By segment

Plumbing Products

$1.3B Q3 2026

$1.3B Q3 2025

3.7% increase

Decorative Architectural Products

$628M Q3 2026

$627M Q3 2025

0.2% increase

Source: Masco 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026

Cash & equivalents $610M at Sep 30, 2026, vs $647M at FY2025 end.
Total debt $3.2B at Sep 30, 2026, vs $2.9B at FY2025 end.
Operating cash flow, first 9 months of fiscal 2026: $788M vs $604M a year earlier.

The bull case and the bear case

The bull case

Diluted shares fell 4.1% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
Revenue in the quarter ended Sep 30, 2026 was $2.0B, up 2.6% on a year earlier. 10-Q, quarter ended Sep 30, 2026
Net income in the quarter ended Sep 30, 2026 was $230M, up 21.7% on a year earlier. 10-Q, quarter ended Sep 30, 2026
Plumbing Products revenue grew 2.9% in FY2025 to $5.0B. 10-K, FY2025

The bear case

Revenue fell 3.4% in FY2025 to $7.6B, from $7.8B a year earlier. 10-K, FY2025
Net income fell 1.5% in FY2025 to $810M, from $822M. 10-K, FY2025
Operating cash flow fell 4.9% in FY2025 to $1.0B. 10-K, FY2025
Decorative Architectural Products revenue fell 13.6% in FY2025 to $2.6B. 10-K, FY2025

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Masco is in the building products industry, part of the industrials sector. The SEC files it under Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures.

Masco reports 2 segments: Plumbing Products and Decorative Architectural Products.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the building products industry. They are not a summary of Masco’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

Economic cyclesDemand for equipment and services rises and falls with business investment.
Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
Trade and tariffsTariffs and trade policy affect costs and sales.
Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
Regulation and liabilitySafety, environmental and product-liability rules can raise costs.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$8.0B	$7.8B	$7.6B
Net income	$908M	$822M	$810M
Operating cash flow	$1.4B	$1.1B	$1.0B
Cash & equivalents (year end)	$634M	$634M	$647M
Total debt (year end)	$2.9B	$2.9B	$2.9B
Diluted shares	226M	219M	210M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: Long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

Recent filings

Form	Filed	Period
10-Q	Oct 28, 2026	Sep 30, 2026
10-Q	Jul 29, 2026	Jun 30, 2026
10-Q	Apr 22, 2026	Mar 31, 2026
DEF 14A	Apr 10, 2026	May 8, 2026
10-K	Feb 10, 2026	Dec 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Masco

How does Masco make money?

Masco's revenue was $7.6B in fiscal 2025. By segment in FY2025: Plumbing Products (66%) and Decorative Architectural Products (34%), as shares of total revenue. Total revenue was $7.6B. Source: 10-K for fiscal 2025, filed Feb 10, 2026.

What was Masco's revenue in fiscal 2025?

$7.6B of revenue for the fiscal year ended Dec 31, 2025, down 3.4% from $7.8B in fiscal 2024. Fiscal 2023 was $8.0B. Source: 10-K for fiscal 2025, filed Feb 10, 2026.

Is Masco profitable?

Masco reported net income of $810M for fiscal 2025, down 1.5% from $822M in fiscal 2024. That is a profit under US accounting rules (GAAP). In the quarter ended Sep 30, 2026, net income was $230M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 10, 2026.

What did Masco report in its latest quarterly filing?

Revenue was $2.0B in the quarter ended Sep 30, 2026, up 2.6% from $1.9B a year earlier. Net income was $230M, up 21.7% from $189M. Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026.

How much cash and debt does Masco have?

Masco had $610M in cash and cash equivalents and $3.2B of total debt on Sep 30, 2026. Total debt here is long-term debt, at carrying value. Source: 10-Q filed Oct 28, 2026.

What are the main risks Masco faces?

Masco's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 10, 2026. Risks that are common among companies in the building products industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.

Where do these Masco numbers come from?

From Masco's own SEC filings: the 10-K for fiscal 2025 (filed Feb 10, 2026) and the 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning Masco

Renaissance Technologies: 683,900 shares, reported value $55.6M at Jun 30, 2026 (−39.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
Millennium Management: 610,365 shares, reported value $49.7M at Jun 30, 2026 (+82.9% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Citadel Advisors: 524,422 shares, reported value $42.7M at Jun 30, 2026 (+186.9% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Bridgewater Associates: 66,385 shares, reported value $5.4M at Jun 30, 2026 (+166.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Two Sigma Investments: 15,636 shares, reported value $1.3M at Jun 30, 2026 (−63.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in MAS: The editor holds no position in Masco (MAS). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell MAS from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 10, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold MAS, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
MascoMAS	FY2025	$7.6B	−3.4%	$810M
Trane TechnologiesTT	FY2025	$21.3B	+7.5%	$2.9B
Johnson ControlsJCI	FY2025	$23.6B	+2.8%	$3.3B
Carrier GlobalCARR	FY2025	$21.7B	−3.3%	$1.5B
AllegionALLE	FY2025	$4.1B	+7.8%	$644M

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.