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Arphra AIPlain-English read on Masco Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $8.38B | $8.68B | $7.97B | $7.83B | $7.56B | $7.77B | $8.02B | $8.31B | $8.39B |
| Cost of revenue | $5.51B | $5.97B | $5.16B | $4.99B | $4.88B | $4.98B | $5.29B | $5.36B | $5.36B |
| Gross profit | $2.86B | $2.71B | $2.81B | $2.84B | $2.69B | $2.84B | $2.8B | $3.04B | $3.05B |
| Gross margin | +34.19% | +31.26% | +35.21% | +36.25% | +35.53% | +36.50% | +34.92% | +36.60% | +36.31% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $1.41B | $1.39B | $1.47B | $1.47B | $1.42B | $1.43B | $1.46B | $1.54B | $1.6B |
| Total operating expenses | $1.41B | $1.39B | $1.47B | $1.47B | $1.42B | $1.45B | $1.52B | $1.55B | $1.54B |
| Operating income | $1.45B | $1.32B | $1.34B | $1.37B | $1.27B | $1.32B | $1.36B | $1.37B | $1.44B |
| Operating margin | +17.31% | +15.24% | +16.77% | +17.53% | +16.82% | +16.94% | +17.01% | +16.53% | +17.22% |
| EBITDA | $951M | $1.45B | $1.49B | $1.41B | $1.38B | $1.39B | $1.5B | $1.48B | $1.52B |
| EBIT | $800M | $1.3B | $1.34B | $1.26B | $1.24B | $1.29B | $1.34B | $1.39B | $1.37B |
| Below the line | |||||||||
| Interest expense | $278M | $108M | $106M | $99M | $101M | $100.84M | $106.2M | $111.06M | $112.73M |
| Interest income | $1M | $2M | $9M | $0 | $0 | $2.88M | $3.09M | $3.04M | $3.14M |
| Other income / expense | -$762M | -$130M | -$98M | -$211M | -$137M | — | — | — | — |
| Pre-tax income | $688M | $1.19B | $1.24B | $1.16B | $1.14B | $1.21B | $1.2B | $1.25B | $1.27B |
| Income tax expense | $210M | $288M | $278M | $287M | $277M | $277.26M | $286.91M | $304.22M | $302.32M |
| Earnings | |||||||||
| Net income | $406M | $842M | $908M | $822M | $810M | $846.44M | $848.53M | $925.34M | $910.84M |
| Net income · continuing ops | $478M | $905M | $960M | $874M | $858M | $906.94M | $896.5M | $961.34M | $948.68M |
| Net margin | +4.85% | +9.70% | +11.40% | +10.50% | +10.71% | +10.90% | +10.58% | +11.14% | +10.86% |
| EPS · basic | $1.63 | $3.65 | $4.04 | $3.77 | $3.88 | $4.33 | $4.78 | $5.29 | $5.49 |
| EPS · diluted | $1.62 | $3.63 | $4.02 | $3.76 | $3.86 | $4.27 | $4.70 | $5.20 | $5.47 |
| EPS · low estimate | — | — | — | — | — | $4.20 | $4.63 | $5.10 | $5.37 |
| EPS · high estimate | — | — | — | — | — | $4.35 | $4.87 | $5.25 | $5.60 |
| Shares · basic | 249M | 231M | 225M | 218M | 209M | 210.09M | 208.64M | 207.93M | 209.4M |
| Shares · diluted | 251M | 232M | 226M | 219M | 210M | 208.76M | 208.23M | 210.33M | 208.54M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 15 | 15 | 6 | 5 |
| Analysts (EPS) | — | — | — | — | — | 13 | 14 | 3 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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