MBC · MasterBrand, Inc.
10 customers — 50% of revenue (2025 fiscal year)
“Our ten largest customers generated approximately 50 percent, 55 percent and 55 percent of our net sales for our 2025, 2024 and 2023 fiscal years, respectively.”
2 customers — 33% of revenue (2025 fiscal year)
“Lowe's and Home Depot comprised approximately 33 percent, 37 percent and 37 percent of our net sales for our 2025, 2024 and 2023 fiscal years.”
10 customers — 55% of revenue (2024 fiscal year)
“Our ten largest customers generated approximately 50 percent, 55 percent and 55 percent of our net sales for our 2025, 2024 and 2023 fiscal years, respectively.”
2 customers — 37% of revenue (2024 fiscal year)
“Lowe's and Home Depot comprised approximately 33 percent, 37 percent and 37 percent of our net sales for our 2025, 2024 and 2023 fiscal years.”
10 customers — 55% of revenue (2023 fiscal year)
“Our ten largest customers generated approximately 50 percent, 55 percent and 55 percent of our net sales for our 2025, 2024 and 2023 fiscal years, respectively.”
2 customers — 37% of revenue (2023 fiscal year)
“Lowe's and Home Depot comprised approximately 33 percent, 37 percent and 37 percent of our net sales for our 2025, 2024 and 2023 fiscal years.”
Price & Indicators
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AI Brief
Q2 FY26 earnings call · Aug 4, 2026TL;DR. MasterBrand closed its American Woodmark merger in Q2, raised the annual run-rate cost synergy target to over $100 million, and introduced a soft second-half 2026 outlook with adjusted EPS of negative $0.05 to positive $0.03 amid a mid-single-digit market decline, while legacy results saw significant margin compression.
- + Closed transformative American Woodmark merger on May 28, 2026, creating the largest residential cabinet manufacturer in North America
- + Raised annual run-rate cost synergy target to over $100 million by year three post-close, exceeding original target
- + Already executed $30 million of annualized cost synergies as of end of July, with $15 million expected to flow through second-half 2026
- + Expects full-year tariff exposure of 5-6% of net sales to be fully offset on a dollar-for-dollar run-rate basis by year-end
- + Targeting net leverage below 2.0x by end of 2028, with clear deleveraging path and ample liquidity ($241.6M cash, $393.9M revolver availability)
- − Legacy MasterBrand net sales declined 5.6% to $689.7M amid mid- to high-single-digit market decline
- − Legacy gross margin compressed 540 basis points to 27.4% on volume decline, unfavorable mix, and material, labor, and freight inflation
- − Legacy adjusted EBITDA margin fell 600 basis points to 8.4% as inflation and volume pressures outpaced cost actions
- − American Woodmark performance came in below expectations with excess fixed capacity and absorption pressure; two plant consolidations announced as a result
- − YTD free cash flow turned negative at $(17.6)M versus $25.5M prior year, driven by lower net income
- − Section 232 tariff scheduled to increase to 50% on January 1, 2027 remains in place, potentially extending deleveraging timeline
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Furnishings, Fixtures & Appliances — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MBC
this stock
MasterBrand, Inc.
|
$1.47B | -35.7% | +1.3% | — | 8.6% |
|
MGCLY
Midea Group Co., Ltd./ADR
|
$92.40B | +5.8% | — | — | 0.0% |
|
SN
SharkNinja, Inc.
|
$25.04B | +65.1% | +15.7% | — | 5.0% |
|
SGI
Somnigroup International Inc.
|
$13.45B | -29.7% | -12.0% | — | 8.6% |
|
NCLTY
Nitori Holdings Co., Ltd.
|
$11.03B | +13.6% | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MBC | +1.9% | -13.0% | -17.2% | +1.4% | -35.7% |
| SPY | +2.0% | +1.7% | +11.3% | +2.2% | +14.3% |
| vs SPY | -0.1% | -14.7% | -28.5% | -0.7% | -49.9% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.