GRIFFON CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GRIFFON 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	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,477	1,525	1,978	2,209	2,067	2,271	2,848	2,685	2,624	2,520
Cost of revenue	1,076	1,117	1,467	1,357	1,483	1,630	1,912	1,736	1,604	1,462
Gross profit	401	408	511	517	584	641	937	949	1,020	1,058
Selling, general and administrative	318	341	419	408	444	471	609	643	622	608
Operating expenses	318	339			444	471	1,126	752	622	852
Operating income	82.3	67	92.8	109	140	171	-189	197	398	206
Interest expense	49.9	51.5	65.6	68.3	66.5	63.2	84.4	101	104	96
Interest income	0.07	0.06	1.7	0.8	0.75	0.44	0.22	2.09	2.43	2.16
Other non-operating income	-50.1	-50.3	-59	-62.3	-72.1	-60.6	-81.8	-84.2	-102	-78.9
Pre-tax income	32.2	16.7	33.8	46.2	67.5	110	-271	113	297	127
Income tax	12.4	-1.09	0.56	20.8	26	39.7	16.8	35.1	86.8	76.3
Income from continuing operations	19.8	17.8	33.3	25.5	41.4	70.3	-288	77.6	210
Net income	30	14.9	126	37.3	53.4	79.2	-192	77.6	210	51.1
EBITDA	129	115	149	160	192	223	-124	240	436	246
EPS, basic	0.73	0.36	3.06	0.91	1.25	1.56	-3.71	1.49	4.41	1.13
EPS, diluted	0.68	0.35	2.96	0.87	1.19	1.48	-3.71	1.42	4.23	1.09
Shares, basic (weighted)	41.1	41	41	40.9	42.6	50.8	51.7	52.1	47.6	45.4
Shares, diluted (weighted)	44.1	43	42.4	42.9	45	53.4	51.7	54.6	49.7	46.7
Dividend per share	0.20	0.24	0.28	0.29	0.30	0.32	0.36	0.45

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	72.6	47.7	69.8	72.4	218	249	120	103	114	99
Receivables	184	208	281	264	278	295	362	312	313	197
Inventory	261	299	398	442	320	473	669	507	425	172
Other current assets	23.4	40.1	42.1	40.8	41.5	76	62.5	57.1	61.6	42.1
Total current assets	781	1,098	913	925	1,106	1,369	1,215	981	929	1,246
Property, plant and equipment	237	232	342	337	297	290	295	279	288	196
Lease right-of-use assets					154	145	183	170	171	53
Goodwill	306	319	439	419	424	426	336	328	329	191
Intangible assets	198	205	371	357	354	350	762	635	619	364
Other non-current assets	7.57	16.1	16.4	15.8	26.5	21.6	21.6	21.7	30.4	26.2
Total assets	1,782	1,874	2,085	2,075	2,449	2,605	2,816	2,419	2,371	2,076
Accounts payable	148	184	234	251	173	260	195	117	119	57.7
Accrued liabilities	84.1	83.3	139	125	144	145	172	193	182	115
Deferred revenue				26.3	24.4
Short-term debt	13.9	11.1	13	10.5	9.92	12.5	12.7	9.63	8.16	8.03
Total current liabilities	318	371	393	390	442	532	424	359	349	446
Long-term debt	897	968	1,108	1,094	1,037	1,033	1,561	1,460	1,516	1,404
Lease liabilities					131	119	159	147	147	40.5
Other non-current liabilities	123	133	107	110	122	110	191	133	131	111
Total liabilities	1,371	1,475	1,610	1,597	1,748	1,798	2,339	2,104	2,146	2,002
Total debt	911	979	1,121	1,104	1,047	1,046	1,574	1,470	1,524	1,412
Paid-in capital	530	487	503	519	583	602	628	663	677	690
Retained earnings	476	480	551	569	608	670	344	282	461	479
Treasury stock	-502	-489	-535	-536	-413	-417	-420	-578	-877	-1,044
Other comprehensive income	-81.2	-60.5	-34.1	-65.9	-72.1	-46	-82.7	-70	-58	-71.9
Shareholders' equity	411	399	474	478	700	807	478	315	225	74
Total equity	411	399	474	478	700	807	478	315	225	74
Total liabilities and equity	1,782	1,874	2,085	2,075	2,449	2,605	2,816	2,419	2,371	2,076
Shares outstanding			45.7	46.8	56.1	56.6	57.1	53.1	48.3	46.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	30	14.9	126	37.3	53.4	79.2	-192	77.6	210	51.1
Depreciation and amortization	46.3	47.9	55.8	51.5	52.1	52.3	64.7	43.1	37.9	39.7
Stock-based compensation	10.1	8.09	19.6	15.9	17.6	20.1	33.1	41.1	26.8	25.5
Deferred income tax	6.04	2.34	-17.6	-5.47	2.12	13.8	-56.7	-37.8	3.57	-28.5
Change in receivables	-35.9	-19.1	2.68	13.4	-72.5	-7	-20.7	51.1	4.24	18.9
Change in inventory	16.1	-29.3	-52.1	-31.8	23.3	-155	-107	129	73.6	-18.3
Change in payables	4.83	17.5	11.1	19.6	40.4	72.8	-96.4
Cash from operations	80.1	49.2	58.2	90.3	107	69.8	59.2	432	380	357
Capital expenditures	-59.3	-34.9	-50.1	-34.9	-41.2	-37	-42.5	-63.6	-68.4	-52.4
Acquisitions	-4.47	-34.7	-431	-9.22	-10.5	-2.24	-851	0	-14.6	0
Cash from investing	-62.3	-71.3	2.57	-64.1	-51.5	-56.2	-583	-45.2	-65	-34.4
Debt issued	302	233	443	202	1,240	20.9	1,059	123	217	63
Debt repaid	-209	-170	-301	-218	-1,309	-27.8	-511	-222	-169	-179
Stock issued	0	0	0	0	178	0	0
Share buybacks	-65.3	-15.8	-45.6	-1.48	-7.48	-3.36	-10.9	-164	-310	-183
Dividends paid	-8.8	-10.3	-49.8	-13.7	-14.5	-17.1	-127	-134	-35.8	-39.7
Cash from financing	15.4	-0.7	39.1	-35	68.2	-28.2	393	-400	-299	-339
Exchange rate effect	0.89	0.16	1.17	0.31	2.38	-3.54	-5.4	-0.69	-1.97	1.63
Net change in cash	20.6	-24.9	22.1	2.62	146	30.6	-128	-17.3	11.5	-15.4
Free cash flow	20.8	14.2	8.05	55.5	65.7	32.9	16.8	368	312	305
Interest paid	43.2	48.1	59.8	63.6	63.1	60.8	78.3	99.8	101	92.9
Income taxes paid	3.43	21	32.1	25.3	21	41.2	80.3	70.9	103	96.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $98.39 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	41.4%	Gross profit / revenue.
Operating margin	17.6%	Operating income / revenue.
EBITDA margin	19.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	14.9%	Pre-tax income / revenue.
Net margin	7.0%	Net income / revenue.
FCF margin	11.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.3%	Cash from operations / revenue.
Effective tax rate	40.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	138.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.7%	Net income / average total assets.
Return on invested capital (ROIC)	21.0%	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%.
SG&A / revenue	25.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.7%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-4.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.1%	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	12.6%	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	-48.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	8.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-43.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y	5.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-75.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	-0.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-74.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	-1.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-5.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	82.1%	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	27.3%	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	-2.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	163.1%	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	35.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-67.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-46.3%	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	-36.2%	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	-12.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-9.7%	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	-3.2%	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	-6.0%	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	-3.3%	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	0.7%	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	2.41x	Current assets / current liabilities.
Quick ratio	1.04x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.37x	(Cash + short-term investments) / current liabilities.
Debt / equity	9.81x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	69.0%	Total debt / total assets.
Liabilities / assets	93.0%	Total liabilities / total assets.
Net debt	$1.16B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.33x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.15x	Operating income / interest expense.
Working capital	$423.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	29.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$408.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.40x	Revenue / average total assets.
Fixed asset turnover	12.5x	Revenue / average property, plant and equipment.
Inventory turnover	8.83x	Cost of revenue / average inventory.
Days inventory	41 days	365 x average inventory / cost of revenue.
Receivables turnover	12.7x	Revenue / average receivables.
Days sales outstanding	29 days	365 x average receivables / revenue.
Days payables	20 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	50 days	Days inventory + days sales outstanding - days payables.
FCF conversion	166.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	12.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.96	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	$56.78	Revenue / diluted weighted shares.
FCF per share	$6.58	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.55	Cash from operations / diluted weighted shares.
Book value per share	$2.84	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$8.99	Tangible book value / shares outstanding.
Cash per share	$2.43	(Cash + short-term investments) / shares outstanding.
Payout ratio	21.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	13.1%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	47.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.46B	Share price x shares outstanding.
Enterprise value	$5.61B	Market cap + total debt - cash - short-term investments.
P/E	24.9x	Market cap / net income. Only when net income is positive.
P/S	1.74x	Market cap / revenue.
P/B	34.5x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	15.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.1x	Market cap / cash from operations, when positive.
EV/Sales	2.19x	Enterprise value / revenue.
EV/EBIT	12.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	18.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.7%	Free cash flow / market cap.
Earnings yield	4.0%	Net income / market cap (the inverse of P/E).
Dividend yield	0.9%	Dividends paid over the period / market cap.
Shareholder yield	4.0%	(Dividends paid + share buybacks) / market cap.

What was GRIFFON CORP's revenue in fiscal 2025?

GRIFFON CORP reported revenue of $2.52B for fiscal 2025, 3.9% lower than the year before.

Was GRIFFON CORP profitable in fiscal 2025?

Yes. Net income was $51.1M, a net margin of 2%.

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

Cash from operations of $357.4M minus capital expenditures of $52.4M left free cash flow of $305.0M.

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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