BRUNSWICK CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BRUNSWICK CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Revenue	4,489	4,510	4,121	4,108	4,348	5,846	6,812	6,401	5,237	5,363
Cost of revenue	3,256	2,854	3,074	2,987	3,135	4,180	4,865	4,614	3,886	4,031
Gross profit	1,180	1,262	1,047	1,121	1,213	1,666	1,947	1,787	1,351	1,332
Research and development	139	112	122	122	126	155	203	185	170	169
Selling, general and administrative	598	458	515	510	544	698	771	812	748	851
Selling and marketing	27.1	26.3	31.7	35.6	29.7	33.2	39.9	28.5	27.3	27.6
Operating expenses							999	1,041	1,025	1,354
Operating income	480	330	356	471	539	813	948	735	312	-40.7
Interest expense	27.5	26.4	46	76	67.3	65.9	98.1	112	127	112
Interest income	1.8	2.6	2.9	3.3	1.2	2.1	6.1	10.2	13.4	7.2
Other non-operating income	-13.3	-3.1	-4.3	-2.1	-6.1	-6.8	-6.1	7.6	9	-1.6
Pre-tax income	390	213	311	111	473	736	854	629	203	-136
Income tax	115	112	57.3	80.3	98	141	172	196	54	0.2
Income from continuing operations	274	101	253	30.4	375	595	681	433	149	-136
Net income	276	146	265	-131	373	593	677	420	130	-137
EBITDA	583	417	480	610	693	991	1,179	1,008	600	252
EPS, basic	3.03	1.64	3.03	-1.54	4.70	7.63	9.05	5.99	1.94	-2.08
EPS, diluted	3.00	1.62	3.01	-1.53	4.68	7.57	9.00	5.96	1.93	-2.08
Shares, basic (weighted)	91.2	89.4	87.6	85.2	79.2	77.8	74.8	70.2	67.2	65.9
Shares, diluted (weighted)	92	90.1	88.2	85.6	79.7	78.4	75.2	70.5	67.4	65.9
Dividend per share	0.62	0.69	0.78	0.87	0.99	1.28	1.46	1.60	1.68	1.72

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	422	449	294	320	520	355	596	468	269	257
Short-term investments	35.8	0.8	0.8	0.8	56.7	0.8	4.5	0.8	0.8	0.8
Receivables	412	485	352	332	338	485	543	493	429	523
Inventory	699	828	774	825	712	1,208	1,471	1,477	1,303	1,192
Other current assets	37.1	74.7	72.9	36.8	34.1	63.8	67.8	60	95.5	72.5
Total current assets	1,689	1,847	1,880	1,526	1,671	2,125	2,695	2,510	2,114	2,063
Property, plant and equipment	569	706	695	796	864	1,047	1,271	1,316	1,252	1,208
Lease right-of-use assets			0	83.2	83	92.8	115	152	162	170
Goodwill	414	33.9	377	415	418	888	968	1,031	966	681
Intangible assets	160	149	586	584	552	1,052	997	978	918	855
Other non-current assets	1,027	806	1,717	1,242	1,237	2,254	2,355	2,405	2,312	2,041
Total assets	3,285	3,358	4,292	3,564	3,771	5,425	6,321	6,231	5,678	5,312
Accounts payable	378	421	458	394	458	694	663	558	393	375
Accrued liabilities	521	609	502	510	579	711	738	739	644	758
Short-term debt	5.6	5.6	41.3	41.3	43.1	37.4	89	455	243	295
Total current liabilities	965	1,035	1,257	944	1,079	1,442	1,490	1,752	1,280	1,429
Long-term debt	434	432	1,180	1,068	908	1,779	2,420	1,976	2,098	1,807
Lease liabilities			0	70.1	69.8	75.5	97.8	134	145	152
Other non-current liabilities	163	188	102	107	129	145	161	217	206	251
Total liabilities	1,845	1,875	2,709	2,264	2,261	3,511	4,279	4,143	3,785	3,687
Total debt	439	437	1,221	1,109	973	1,845	2,545	2,463	2,374	2,121
Paid-in capital	382	374	371	369	384	395	391	392	402	427
Retained earnings	1,881	1,967	2,136	1,931	2,226	2,720	3,289	3,597	3,615	3,365
Treasury stock	-465	-575	-638	-1,023	-1,134	-1,246	-1,685	-1,953	-2,148	-2,220
Other comprehensive income	-435	-360	-363	-53.4	-42.7	9.9	-29.5	-25.7	-53.4	-22.7
Shareholders' equity	1,440	1,483	1,583	1,301	1,510	1,914	2,042	2,087	1,892	1,626
Total equity	1,440	1,483	1,583	1,301	1,510	1,914	2,042	2,087	1,892	1,626
Total liabilities and equity	3,285	3,358	4,292	3,564	3,771	5,425	6,321	6,231	5,678	5,312
Shares outstanding	89.3	87.5	79.6	79.6	77.9	76.9	71.4	68.2	66	64.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Net income	276	146	265	-131	373	593	677	420	130	-137
Depreciation and amortization	104	87.1	124	139	153	178	231	273	289	293
Stock-based compensation	16.1	15.9	16.7	17.3	27.1	29.7	21.9	22.4	23.4	38.7
Deferred income tax	62.5	92.2	31	-49.8	-17.6	-21.8	-18.9	16.4	-15.6	-81.8
Change in inventory	-48.2	-29.9	-82.4	-50.5	109	-343	-293	0.7	113	114
Cash from operations	435	400	337	434	798	574	586	734	431	562
Capital expenditures	-194	-178	-180	-233	-182	-267	-388	-289	-167	-166
Acquisitions	-276	-15.5	-910	-64.1	0	-1,139	-93.8	-104	-31.8	-0.2
Purchases of investments	-35	0	0	0	-55.9	0	-60.1	0	-80.9	0
Sales and maturities of investments	10.7	35	0	0	0	55.9	56.4	3.8	82.1	0
Cash from investing	-486	-179	-1,107	195	-247	-1,354	-443	-379	-169	-142
Debt issued	1	0	795	224	0	994	742	0	397	0
Debt repaid	-3.2	-3	-12.6	-341	-159	-128	-59.1	-82.3	-613	-413
Share buybacks	-120	-130	-75	-400	-118	-120	-450	-275	-200	-80
Dividends paid	-55.4	-60.6	-67.8	-73.4	-78.3	-98.9	-109	-112	-112	-113
Cash from financing	-186	-204	621	-601	-362	622	111	-487	-443	-441
Exchange rate effect	0.1	6.9	-5	0.4	8.8	-5.5	-11.9	2.7	-12.8	9.7
Net change in cash	-236	24.6	-155	28.5	198	-164	242	-130	-193	-11
Free cash flow	241	222	157	202	616	307	198	444	264	396
Interest paid	30.1	33	46.8	79.5	72.8	72.7	95.3	117	140	115
Income taxes paid	32.6	73.5	21.7	18.2	112	147	197	175	93.5	48.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $67.19 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	25.6%	Gross profit / revenue.
Operating margin	-0.4%	Operating income / revenue.
EBITDA margin	4.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-1.9%	Pre-tax income / revenue.
Net margin	-1.5%	Net income / revenue.
FCF margin	6.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.3%	Cash from operations / revenue.
Return on equity (ROE)	-5.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.6%	Net income / average total assets.
Return on invested capital (ROIC)	-0.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	3.3%	Research and development expense / revenue.
SG&A / revenue	16.3%	Selling, general and administrative expense / revenue.
Capex / revenue	3.2%	Capital expenditures / revenue.
D&A / revenue	4.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-7.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-1.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-11.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	1.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-113.1%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-58.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-40.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-18.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-205.5%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-207.8%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	30.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-1.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-6.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	50.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	26.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-8.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	2.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	11.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-14.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-6.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-5.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-4.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.45x	Current assets / current liabilities.
Quick ratio	0.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.19x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.25x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	38.2%	Total debt / total assets.
Liabilities / assets	69.5%	Total liabilities / total assets.
Net debt	$1.81B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	7.61x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.20x	Operating income / interest expense.
Working capital	$682.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	27.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$155.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.02x	Revenue / average total assets.
Fixed asset turnover	4.69x	Revenue / average property, plant and equipment.
Inventory turnover	3.44x	Cost of revenue / average inventory.
Days inventory	106 days	365 x average inventory / cost of revenue.
Receivables turnover	10.1x	Revenue / average receivables.
Days sales outstanding	36 days	365 x average receivables / revenue.
Days payables	41 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	102 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	34.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.31	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$85.95	Revenue / diluted weighted shares.
FCF per share	$5.21	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.98	Cash from operations / diluted weighted shares.
Book value per share	$25.89	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.40	Tangible book value / shares outstanding.
Cash per share	$4.46	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	33.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	20.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.35B	Share price x shares outstanding.
Enterprise value	$6.17B	Market cap + total debt - cash - short-term investments.
P/S	0.77x	Market cap / revenue.
P/B	2.59x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	28.0x	Market cap / tangible book value, when positive.
P/FCF	12.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.32x	Market cap / cash from operations, when positive.
EV/Sales	1.10x	Enterprise value / revenue.
EV/EBITDA	25.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	18.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.8%	Free cash flow / market cap.
Earnings yield	-2.0%	Net income / market cap (the inverse of P/E).
Dividend yield	2.6%	Dividends paid over the period / market cap.
Shareholder yield	4.2%	(Dividends paid + share buybacks) / market cap.

What was BRUNSWICK CORP's revenue in fiscal 2025?

BRUNSWICK CORP reported revenue of $5.36B for fiscal 2025, 2.4% higher than the year before.

Was BRUNSWICK CORP profitable in fiscal 2025?

No. It reported a net loss of $137.3M.

How much free cash flow did BRUNSWICK CORP generate in fiscal 2025?

Cash from operations of $562.1M minus capital expenditures of $165.8M left free cash flow of $396.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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