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Masco (MAS) Q4 FY2021 earnings: revenue $2.0 billion, up 8.7% on the year

Masco Corp. (MAS) reported revenue of $2.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 8.7% on the same quarter a year earlier. Net income was $132 million, down 32.3% on the year, and diluted earnings per share $0.53. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2022.

Revenue
$2.0 billion
+8.7% on the year · -8.3% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
10.8%
16.5% a year earlier
Q1 FY2020Q4 FY2021
Net income
$132 million
-32.3% on the year · -40.0% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$0.53
-28.4% on the year · -40.4% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue2,0222,2041,860-8.3%+8.7%
Cost of revenue1,403n/an/a
Gross profit619n/an/a
Gross margin30.6%n/an/a
Selling, general and administrative356n/an/a
Operating income218385307-43.4%-29.0%
Operating margin10.8%17.5%16.5%
Interest expense25.0n/an/a
Pre-tax income192n/an/a
Income tax52.0n/an/a
Effective tax rate27.1%n/an/a
Net income132220195-40.0%-32.3%
Net margin6.5%n/an/a
Diluted EPS$0.53$0.89$0.74-40.4%-28.4%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow335n/an/a
Capital expenditure46.0n/an/a
Free cash flow289n/an/a
Free cash flow margin14.3%n/an/a
Cash from investing-55.0n/an/a
Cash from financing-203n/an/a
Depreciation and amortisation37.036.034.0+2.8%+8.8%
Share-based compensation10.0n/an/a
Buybacks148n/an/a
Dividends paid57.0n/an/a
Diluted shares, weighted251m247mn/a+1.6%
Shares outstanding at period end241m244m258m-0.9%-6.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity-179-126195
Non-controlling interest235n/an/a
Redeemable equity22.0n/an/a
Debt2,9592,9502,795+0.3%+5.9%
Operating lease liabilities172n/an/a
Finance lease liabilities23.0n/an/a
Other liabilities2,343n/an/a
Total liabilities and equity5,575n/an/a
Fixed assets896n/an/a
Goodwill568n/an/a
Intangible assets388n/an/a
Cash and equivalents9268541,326+8.4%-30.2%
Receivables1,171n/an/a
Inventory1,216n/an/a
Other assets410n/an/a
Total assets5,575n/an/a

Questions

What was Masco's revenue in Q4 FY2021?

Masco (MAS) reported revenue of $2.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 8.7% on the same quarter a year earlier.

How much did Masco earn in Q4 FY2021?

Net income for Q4 FY2021 was $132 million, down 32.3% on the year, and diluted earnings per share $0.53.

When did Masco report Q4 FY2021 results?

Masco filed its 10-K for the year that ended with the quarter on 8 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,0222,2012,3522,2041,9231,9792,1271,9791,8821,9262,0911,9831,8281,8012,0511,9171,7931,9181,9921,966
Cost of revenue1,4031,4971,5831,5091,3781,3101,3581,2351,2281,2411,3061,2581,1921,1571,2781,2611,1871,2321,1241,246
Gross profit619704769695545669769744654685785725636644772656607686868720
Gross margin31%32%33%32%28%34%36%38%35%36%38%37%35%36%38%34%34%36%44%37%
SG&A356351361344334354366361392367388368345358361353354369397381
Operating income218353408351185315403383247318397357291286412303247316470338
Operating margin11%16%17%16%10%16%19%19%13%17%19%18%16%16%20%16%14%16%24%17%
Interest expense25.025.028.029.026.028.028.026.024.025.026.025.023.026.026.025.024.026.028.029.0
Pre-tax income192327397310159285374346233289366248258254378276227291440322
Tax rate27%23%26%25%21%22%26%25%14%21%26%27%25%22%25%28%22%22%24%25%
Net income132233278218115205263249191215258167182186270189165213318230
Net margin7%11%12%10%6%10%12%13%10%11%12%8%10%10%13%10%9%11%16%12%
Diluted EPS$0.53$0.97$1.18$0.97$0.51$0.90$1.16$1.10$0.85$0.97$1.17$0.77$0.85$0.87$1.28$0.90$0.80$1.05$1.60$1.17
Operating cash flow335-22740134632033.0415480485-94.0346416407-158306456418-79.0496371
Capital expenditure46.027.043.067.087.061.072.048.062.031.043.038.056.032.036.041.047.034.043.039.0
Free cash flow289-254358279233-28.0343432423-125303378351-190270415371-113453332
Buybacks1483645500.00.053.028.045.0227145145192269130101123217202390260
Dividends paid57.067.064.064.063.065.064.064.064.064.064.063.063.066.066.065.064.065.064.062.0
Shares outstanding241m236m225m225m225m225m225m224m221m220m218m216m212m211m209m208m204m202m197m193m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 8 February 2022: the filing.