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Largest North American maker of residential kitchen and bath cabinets, sold via dealers, builders and retailers.
Largest North American maker of residential kitchen and bath cabinets, sold via dealers, builders and retailers.
Sells cabinets through three routes: to home builders, to independent dealers who serve remodellers and homeowners, and through big-box home centres. Orders are mostly made to specification and follow new-home starts and remodelling. It was spun off from Fortune Brands in 2022.
Moat: narrow (scale, brand, distribution). Largest N.A. cabinet maker with a multi-brand portfolio and broad dealer network.
Headquarters: Beachwood, Ohio, United States · Employees: 12,633
Size MasterBrand (MBC) is a United States Consumer Discretionary company (Home Furnishings) with a market value of $1.37B, the 2055th largest of 3,117 United States companies the cockpit tracks. Shares closed at $6.72 on 6 Nov 2026.
Performance Over six months the shares fell 11.7%, against -15.8% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue was unchanged over the last twelve months (peer median +0.3%); the operating margin is -0.6% (peer median 6.6%).
Valuation It trades at 1.0× enterprise value to sales against a peer median of 1.4× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +17 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.8 points below its cost of capital (8.4% WACC).
Credit MasterBrand has 1 bond outstanding ($700M), rated BB by the agencies and trading like B+ at a weighted spread of 299 bp.
Short interest Short interest is 11.1% of the free float (15 Oct 2026).
Next results Next results expected around 9 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.78B | $2.73B | $2.70B | $2.73B | $3.28B |
| Revenue growth | — | +1% | -1% | -17% | — |
| Gross profit | $710M | $800M | $860M | $876M | $919M |
| EBITDA | $101M | $226M | $334M | $373M | $335M |
| Net income | -$96.9M | $26.7M | $126M | $182M | $155M |
| Free cash flow | $73.4M | $118M | $211M | $348M | $180M |
| Capital expenditure | $73.7M | $78.2M | $80.9M | $57.3M | $55.9M |
| Total debt | $1.69B | $1.17B | $1.08B | $770M | $1.03B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| MasterBrand MBC | $1.37B | -12% | 0% | -1% | 1.0× | 19.4% |
| Fortune Brands Innovations FBIN | $5.74B | +27% | -3% | 14% | 1.8× | 5.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MBC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.0% | -2.3% | 10th lowest of 21 |
| 6-month return | -11.7% | -15.8% | 8th highest of 21 |
| Distance from 52-week high | -51.9% | -40.6% | 6th lowest of 21 |
| Revenue growth (TTM) | 0.0% | +0.3% | 10th lowest of 21 |
| Operating margin | -0.6% | 6.6% | 6th lowest of 21 |
| EV / Sales | 1.0× | 1.4× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 19.4% | -0.5% | 4th most demanding of 15 |
| Growth delivered (Del g) | +2.1% | +6.2% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | +17.4 pp | -4.2 pp | 2nd most demanding of 15 |
| ROIC minus cost of capital | -8.8 pp | -1.9 pp | 4th lowest of 21 |
| Net debt / EBITDA | 14.3× | 0.2× | 2nd most indebted of 11 |
| Bond spread | 299 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MasterBrand MBC | United States | $1.37B | -12% | 0% | -1% | 1.0× | 19.4% | +2.1% |
| Okamura 7994.T | Japan | $1.35B | -14% | +3% | 7% | 0.6× | -6.7% | +6.1% |
| Ziel Home Furnishing Technology 301376.SZ | China | $1.32B | +32% | +21% | 6% | 0.9× | -7.0% | +17.0% |
| Hyundai G.f 005440.KS | South Korea | $1.44B | -21% | -1% | 4% | 0.5× | -1.0% | +20.1% |
| La-Z-Boy LZB | United States | $1.27B | -11% | 0% | 7% | 0.7× | 4.2% | +4.2% |
| Forbo FORN.SW | Switzerland | $1.51B | +23% | -1% | 8% | 1.1× | 0.2% | -0.6% |
| Man Wah 1999.HK | Hong Kong | $1.20B | -45% | -3% | 14% | 0.7× | -6.5% | 0.0% |
| CSG 000012.SZ | China | $1.17B | -13% | -12% | -5% | 1.5× | n/a | n/a |
| De Rucci Healthy Sleep 001323.SZ | China | $1.15B | -26% | -6% | 5% | 1.3× | 0.0% | +3.3% |
| Suofeiya Home Collection 002572.SZ | China | $1.12B | -35% | -22% | 8% | 1.1× | -2.8% | +2.3% |
| Dong Yi Ri Sheng Home Decoration 002713.SZ | China | $1.08B | -38% | -1% | -23% | 9.6× | n/a | n/a |
| WG Tech (JiangXi) 603773.SS | China | $1.87B | -20% | +2% | -8% | 5.7× | n/a | n/a |
| A-Zenith Home Furnishings 603389.SS | China | $1.91B | -17% | +275% | -5% | 17.3× | n/a | n/a |
| MotoMotion China 301061.SZ | China | $1.96B | -4% | -2% | 26% | 3.2× | -5.1% | +20.7% |
| Arhaus ARHS | United States | $2.01B | +118% | +5% | 7% | 1.7× | 28.4% | +22.1% |
| Higold 001221.SZ | China | $2.05B | -40% | +17% | 21% | 3.0× | -3.4% | +33.2% |
| TTK Prestige TTKPRESTIG.NS | India | $882M | +14% | +16% | 7% | 2.6× | 36.8% | +6.3% |
| Helen of Troy HELE | United States | $876M | +51% | +1% | 7% | 0.9× | 3.9% | -3.1% |
| Cello World CELLO.NS | India | $870M | -14% | +7% | 16% | 3.5× | 28.6% | +17.2% |
| Zhuzhou Kibing 601636.SS | China | $2.22B | -21% | -4% | -8% | 1.8× | n/a | n/a |
| Yotrio 002489.SZ | China | $809M | -23% | 0% | 2% | 0.9× | n/a | n/a |
MasterBrand has 1 bond outstanding with $700M face value. The agencies rate it BB; its bonds trade like B+. Weighted yield 7.71%, a spread of 299 bp over government bonds.