Masco (MAS) Investor presentation summary

Business profile and segments

• Global leader in branded home improvement and building products, focused on repair and remodel; 44 manufacturing facilities and ~18K employees.

• Plumbing Products: FY2025 net sales $5.2B; adjusted operating margin 17.6%; 84% of sales tied to repair and remodel.

• Decorative Architectural Products: FY2025 net sales $2.4B; adjusted operating margin 18.9%; all sales tied to repair and remodel.

• Behr has a 45+ year paint partnership with The Home Depot, which operates over 2,300 stores across North America.

Financial performance

• FY2025 net sales $7.6B, adjusted operating profit $1.3B, adjusted operating margin 16.8%, adjusted EPS $3.96 and adjusted free cash flow $0.9B; free cash flow conversion exceeded 90%.

• From 2019 to 2025, revenue and adjusted operating profit each grew at ~2% CAGR; adjusted EPS grew at ~10% CAGR, from $2.28 to $3.96.

• Adjusted operating margin was 16.8% in 2025, within the 14.7%–18.2% range shown for 2015–2025.

• Returned $9B+ to shareholders since 2015, achieved ~45% average ROIC since 2019 and increased the annual dividend for 13 consecutive years.

Market opportunity

• U.S. residential repair and remodel spending reached $523B in 2025 and is forecast at $554B in 2026; the chart shows ~5% CAGR over the period.

• Long-term repair and remodeling market growth is projected at ~1–2% above GDP on average, supported by housing stock age, household formation, home prices and housing turnover.