Masco Corp. /DE/ (MAS) intrinsic value & 10-year financials
Masco Corp. /DE/ (MAS) has a Graham intrinsic value of $81.59 per share. At $73.00 on Oct 20, 2026, the stock trades 11% below that value. Over the last 10 fiscal years revenue grew 0.3% a year to $7.6B, with an average return on invested capital of 44.2%.
- Graham intrinsic value
- $81.59
- Share price (Oct 20, 2026)
- $73.00
- Price vs Graham value
- 11% below
- Market cap
- $15.3B
- Revenue (FY2025)
- $7.6B
- Revenue growth (10-yr CAGR)
- 0.3%
- ROIC (10-yr avg)
- 44.2%
- Free cash flow (FY2025)
- $866.0M
MAS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $7.6B | $810.0M | $3.86 | $866.0M | 16.5% | 40.3% |
| FY2024 | $7.8B | $822.0M | $3.76 | $907.0M | 17.4% | 42.7% |
| FY2023 | $8.0B | $908.0M | $4.02 | $1.2B | 16.9% | 43.5% |
| FY2022 | $8.7B | $844.0M | $3.63 | $616.0M | 14.9% | 44.7% |
| FY2021 | $8.4B | $410.0M | $1.62 | $802.0M | 16.8% | 48.0% |
| FY2020 | $7.2B | $1.2B | $4.59 | $839.0M | 18.0% | 55.3% |
| FY2019 | $6.7B | $935.0M | $3.22 | $671.0M | 16.2% | 40.6% |
| FY2018 | $8.4B | $734.0M | $2.37 | $813.0M | 14.5% | 44.6% |
| FY2017 | $7.6B | $533.0M | $1.66 | $578.0M | 15.3% | 43.5% |
| FY2016 | $7.4B | $491.0M | $1.47 | $546.0M | 14.3% | 38.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Masco has demonstrated mature, steady growth, with revenue compounding at 0.3% annually over the past decade.
Masco has earned high returns on invested capital, averaging 44.2% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Masco shows that management has aggressively returned capital to shareholders by retiring 36.4% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Masco is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $81.59 per share.