Masco (MAS) FY2023 results: revenue $8.0 billion, down 8.2% on the year
Masco Corp. (MAS) reported revenue of $8.0 billion for fiscal 2023, the year ended 31 December 2023, down 8.2% on the year before. Net income was $908 million, up 7.6%, and diluted earnings per share $4.02. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2024.
Revenue
$8.0 billion
-8.2% on the year
FY2016FY2023
Operating margin
16.9%
14.9% a year earlier
FY2016FY2023
Net income
$908 million
+7.6% on the year
FY2016FY2023
Diluted EPS
$4.02
+10.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,413
840
930
+68.2%
Capital expenditure
243
224
128
+8.5%
Free cash flow
1,170
616
802
+89.9%
Free cash flow margin
14.7%
7.1%
9.6%
Cash from investing
-383
-230
-12.0
Cash from financing
-854
-1,066
-1,298
Depreciation and amortisation
149
145
151
+2.8%
Share-based compensation
31.0
49.0
61.0
-36.7%
Buybacks
353
914
1,026
-61.4%
Dividends paid
257
258
211
-0.4%
Dividend per share
$1.14
$1.12
$0.70
+1.8%
Diluted shares, weighted
226m
232m
251m
-2.6%
Shares outstanding at period end
221m
225m
241m
-2.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-126
-480
-179
Non-controlling interest
224
218
235
+2.8%
Redeemable equity
18.0
20.0
22.0
-10.0%
Debt
2,948
3,151
2,959
-6.4%
Operating lease liabilities
258
255
172
+1.2%
Finance lease liabilities
17.0
20.0
23.0
-15.0%
Other liabilities
2,024
2,003
2,343
+1.0%
Total liabilities and equity
5,363
5,187
5,575
+3.4%
Fixed assets
1,121
975
896
+15.0%
Goodwill
604
537
568
+12.5%
Intangible assets
377
350
388
+7.7%
Cash and equivalents
634
452
926
+40.3%
Receivables
1,090
1,149
1,171
-5.1%
Inventory
1,022
1,236
1,216
-17.3%
Other assets
515
488
410
+5.5%
Total assets
5,363
5,187
5,575
+3.4%
10-K for the year ended 31 December 2023, filed 8 February 2024: the filing.