MASCO CORP DE（MAS）の決算・業績分析
MASCO CORP DEの2025年有価証券報告書をAI分析。売上高$7.6B(-3.4%)。営業利益$1.2B。Industrials。
目次
MASCO CORP DEの2025年度 業績サマリー
MASCO CORP DE（証券コード: MAS）の2025年度決算・業績分析。売上高は$7.6B（前年比-3.4%）。営業利益は$1.2B（前年比-8.4%）。純利益は$810M（前年比-1.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
MASCO CORP DEの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Net income surged 105.9% YoY to $844M (XBRL), driven by cost management and pricing initiatives.
- Net debt to EBITDA ratio stands at 1.6x (XBRL), reflecting a leveraged capital structure despite strong cash reserves ($634M).
- Share repurchases totaled $914M (XBRL), underscoring confidence in long-term value creation.
- Operating income declined 7.7% YoY to $1.3B (XBRL), pressured by lower sales volume and elevated input costs.
MASCO CORP DEの売上高変化の要因
- •Total revenue grew 3.6% YoY to $8.7B (XBRL), though segment-specific figures are unavailable. Growth was partially offset by lower North America plumbing sales volume, lower net selling prices for decorative architectural products, and unfavorable plumbing sales mix (10-K). The 5-year revenue CAGR of 3.7% (XBRL) reflects steady expansion, though operating income CAGR of 4.6% (XBRL) contrasts with the 7.7% YoY decline in FY2024.
MASCO CORP DEの営業利益変化の要因
- •Gross profit of $2.7B (31.3% margin) (XBRL) was supported by a 3% YoY decline in cost of sales (10-K). Operating income fell 7.7% YoY to $1.3B (XBRL), driven by lower sales volume, pricing pressures, and elevated commodity/input costs (10-K). Net margin expanded to 9.7% (XBRL), up from 4.8% in FY2023 (historical time series), reflecting the 105.9% YoY surge in net income to $844M (XBRL).
MASCO CORP DEの事業リスクと対応
Economic factors impacting residential repair/remodeling and new home construction (10-K).
Inability to execute strategic initiatives effectively (10-K).
Challenges in acquiring/integrating businesses (10-K).
Variability in raw material costs/availability (10-K).
Exposure to foreign currency and international regulatory risks from acquisitions (10-K).
MASCO CORP DEの今後の見通し・業績予想
MASCO CORP DEの事業内容
MASCO CORP is a global leader in designing, manufacturing, and distributing branded home improvement and building products, generating revenue through the sale of branded products like paint, faucets, hardware, and spas (10-K). The company operates two segments: (1) Plumbing Products, including faucets, shower systems, and spas; and (2) Decorative Architectural Products, including paint and hardware (10-K). Key brands include BEHR®, DELTA®, HANSGROHE®, and LIBERTY® (10-K). Customers include home center retailers, online retailers, mass merchandisers, and distributors, with no significant customer concentration (10-K). Competitive advantages include strong brand recognition, product innovation, and a diversified portfolio across segments and geographies (10-K).
MASCO CORP DEのAI業績分析レポート（2024年度）
MASCO CORP (MAS) FY2024 Annual Report Analysis
Highlights
Business Overview
MASCO CORP is a global leader in designing, manufacturing, and distributing branded home improvement and building products, generating revenue through the sale of branded products like paint, faucets, hardware, and spas (10-K). The company operates two segments: (1) Plumbing Products, including faucets, shower systems, and spas; and (2) Decorative Architectural Products, including paint and hardware (10-K). Key brands include BEHR®, DELTA®, HANSGROHE®, and LIBERTY® (10-K). Customers include home center retailers, online retailers, mass merchandisers, and distributors, with no significant customer concentration (10-K). Competitive advantages include strong brand recognition, product innovation, and a diversified portfolio across segments and geographies (10-K).
Revenue Analysis
Total revenue grew 3.6% YoY to $8.7B (XBRL), though segment-specific figures are unavailable. Growth was partially offset by lower North America plumbing sales volume, lower net selling prices for decorative architectural products, and unfavorable plumbing sales mix (10-K). The 5-year revenue CAGR of 3.7% (XBRL) reflects steady expansion, though operating income CAGR of 4.6% (XBRL) contrasts with the 7.7% YoY decline in FY2024.
Profitability Analysis
Gross profit of $2.7B (31.3% margin) (XBRL) was supported by a 3% YoY decline in cost of sales (10-K). Operating income fell 7.7% YoY to $1.3B (XBRL), driven by lower sales volume, pricing pressures, and elevated commodity/input costs (10-K). Net margin expanded to 9.7% (XBRL), up from 4.8% in FY2023 (historical time series), reflecting the 105.9% YoY surge in net income to $844M (XBRL).
Balance Sheet Analysis
Equity ratio is negative at -2.4% (XBRL), with total equity declining to -$126M in FY2024 (historical time series). Long-term debt rose to $2.9B (XBRL), resulting in net debt of $2.3B (1.6x EBITDA) (XBRL). Current ratio of 1.68x (XBRL) indicates moderate liquidity, supported by $634M in cash (XBRL). ROA of 16.3% (XBRL) contrasts with ROE of -669.8% (XBRL), reflecting negative equity.
Cash Flow Analysis
Operating cash flow of $840M (XBRL) exceeded net income of $844M (XBRL), though investing cash flow was -$230M (XBRL) due to $58M in acquisitions and $72M in divestitures (10-K). Free cash flow totaled $610M (XBRL), with $258M in dividends and $914M in share repurchases (XBRL) returned to shareholders.
Working Capital Analysis
N/A
Risks
Outlook
Management highlights risks of lower demand, elevated commodity/input costs, and employee cost inflation, while emphasizing initiatives to offset these through productivity, pricing, and cost savings (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 6.7B | 6.7B | 7.2B | 8.4B | 8.7B | 8.0B |
| Operating Income | 1.1B | 1.1B | 1.3B | 1.4B | 1.3B | 1.3B |
| Net Income | 734M | 935M | 1.2B | 410M | 844M | 908M |
| Total Assets | 5.4B | 5.0B | 5.8B | 5.6B | 5.2B | 5.4B |
| Total Equity | -235M | 195M | -179M | -480M | -126M | -279M |
| Operating Cash Flow | 1.0B | 833M | 953M | 930M | 840M | 1.4B |
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