MAS Masco Corporation Common Stock
About Masco Corporation Common Stock Company overview from Wikipedia
Masco Corporation is an American manufacturer of products for the home improvement and new home construction markets. Comprising more than 20 companies, the Masco conglomerate operates nearly 60 manufacturing facilities in the United States and over 20 in other parts of the world. Since 1969 it trades on the NYSE. Under the leadership of Richard Manoogian, the company grew exponentially and subsequently joined the Fortune 500 list of largest U.S. corporations.
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Masco Corporation is an American manufacturer of products for the home improvement and new home construction markets. Comprising more than 20 companies, the Masco conglomerate operates nearly 60 manufacturing facilities in the United States and over 20 in other parts of the world. Since 1969 it trades on the NYSE. Under the leadership of Richard Manoogian, the company grew exponentially and subsequently joined the Fortune 500 list of largest U.S. corporations.
As of 2007, Masco employed approximately 32,500 employees and has approximately 6,000 shareholders. The company is currently ranked at 373 on the Fortune 500. As of December 31, 2007, Masco had a little over ten billion dollars in assets, and the company's total revenue was $11.77 billion. Total sales for the company in 2009 were 7.8 billion. In 2010, the company had worldwide sales of $7.6 billion and approximately 90 manufacturing facilities. As of August 2014, the CEO is Keith J. Allman.
History
Founding and early history
Initially organized in 1929 as Masco Screw Products Company by Alex Manoogian in Detroit, Michigan. The company went public on the Detroit Stock Exchange in 1936.
Masco Screw Products Company produced machined automotive parts for the Detroit automotive companies. The company's first contract came in 1930 with the Hudson Motor Company valued at $7,000.00. In 1935, the company's sales reached $100,000. The following year Masco became a publicly traded company traded on the Detroit Stock Exchange. In 1942, Masco's sales exceeded $1,000,000.
Masco Screw Products grew into the Masco Corporation, a large corporate holding company for numerous acquisitions. Small, family-run businesses were bought out by Masco Corporation with cash and stock in the parent corporation. Between 1997 and 2002, Richard Manoogian, who succeeded his father as chief executive, acquired 42 companies valued at a total of $10 billion.
Masco in the 1950s, 1960s and 1970s
In 1952, Manoogian began redesigning the single-handle washerless faucet. The faucet he created was one of the first single-handle hot/cold faucets; it is now known as Delta. Delta's television advertisements were a first for any faucet, and made the product a successful seller. Masco went on to capture the mass market as sales moved from plumbing wholesalers to retail stores. These steps of production and marketing of the Delta faucet began in 1954, and four years later Delta Faucet's annual sales exceeded a million dollars. This was the last year that the company would be referred to as Masco Screw Products Company.
Alex Manoogian, founder, acted as president and chief operating officer (COO) from 1929 until 1967. In 1958 his son Richard joined the company. Richard, having spent nine years with the company, succeeded his father one year after the company moved to Taylor, Michigan. Alex died on July 10, 1996, the same year that his son Richard passed on his COO role to Ray Kennedy, allowing him to assume the position of chief executive officer. In response to Kennedy's death, Alan Barry was appointed as Masco's president and COO on April 8, 2003.
In 1961, Masco Screw Products Company changed its name to Masco Corporation. In 1967, the company moved its corporate headquarters to Taylor, Michigan. For the first time, in 1969, Masco was listed on the New York Stock Exchange. In 1975, Masco first appeared on the Fortune 500, and Masco's annual sales exceeded one billion dollars for the first time in 1984. One year later, Masco began manufacturing cabinets.
Reorganizing in the 1980s and 1990s
In 1982 Masco's earnings did not grow for the first time in 26 years. The next year however, “In 1983, earnings climbed again for this maker of faucets and diverse product mix of builders’ hardware, because of increased housing starts and a strong do-it-yourself market.”
In 1985, Masco purchased the remaining outstanding stock of Flint & Walling, Inc (after purchasing 30% in 1971 and controlling interest in 1978).
In 1986, Masco started a home furnishings division by buying Henredon for $298 million and Drexel Heritage for $356 million. Other companies added to the division were Lexington Home Brands, Hickorycraft, Marge Carson, La Barge and Marbro in 1987, and fabric company Robert Allen/Ametex in 1988. In 1989, Universal Furniture, BenchCraft and Cal-Style were added in a $480 million deal, as well as Sunbury Textiles. The division added Berkline in 1994 and sold Marge Carson and Cal-Style in 1995.
Masco reorganized its numerous companies; in 1988, the specialty products divisions of Masco Industries and Masco Corporation combined to form TriMas Corporation. Three years after this merger, TriMas was listed on the New York Stock Exchange (NYSE). The remainder of Masco Industries became Masco Tech Inc. and in 1993 was listed on the NYSE. At that point in time three different Masco Companies existed: Masco Corp., Masco Tech., and TriMas Corp.
Two years later, Masco entered the services business. TriMas and Masco Tech merged to form one company offering a wide array of products. Masco announced a 2 for 1 stock split, which was the ninth time the company had split its shares since 1960 and was the 40th year in a row that its dividends were increased. This merger left two companies, Masco Tech. and Masco Corp.
In 1996, Masco sold most of its Home Furnishings Division to investors for $1.1 billion, creating a new company called LifeStyle Furnishings International.
In 1999, Masco involved itself in the architectural coatings business by purchasing Behr, and the company's annual sales topped five billion dollars for the first time.
1999–2019
In 1999, Masco Corp acquired Arrow Fastener Co., Inc., a hand tool company expanding its business in the hardware category.
In 2000, Heartland Industrial Partners, a private equity firm, purchased Masco Tech and changed its name to Metaldyne. Metaldyne is headquartered in Plymouth, Michigan. Masco also divested Flint & Walling, Inc in 2000 to Zoeller Company.
In 2001, Masco Corp., or simply Masco, entered the windows business and had operating profits beyond a billion dollars. Late in the year, Masco announced it would write down the value of its stake in LifeStyle Furnishings International by $460 million, since its equity share was only 15 percent, with the rest being debt. LifeStyle, the third largest furniture maker in the United States with $2 billion in sales, had sold Universal Furniture to Lacquer Craft. Then Masco announced Furniture Brands International would buy Drexel Heritage, Henredon and Maitland-Smith for $275 million, with management of Berkline, BenchCraft and Sunbury taking over those companies. LifeStyle continued to own Lexington, Robert Allen/Ametex and the Beacon Hill showrooms.
In 2003, Masco's annual sales topped ten billion dollars and Masco increased its quarterly dividend for the 47th consecutive year. This ranked them in the top ten publicly owned companies achieving increased annual consecutive dividends.
Throughout his time with the company, Richard Manoogian achieved a net worth of approximately $750 million. He was ranked as high as number five on the Forbes 400 list of richest manufacturers. The Manoogian family is no longer involved in the management of the company.
In 2015, the company announced it would relocate its headquarters from its facility in Taylor, Michigan to Livonia due to downsizing after spinning-off some divisions. Company president Keith Allman opened the new site on July 31, 2017.
In December 2017, Masco acquired Mercury Plastics of Middlefield, Ohio for an undisclosed amount and in January 2018, it acquired Kichler Lighting of Independence, Ohio for $550 million.
Masco sold its cabinetry and windows businesses between 2019 and 2020. The UK Window Group, based in Wales, went to Boxwood Capital Limited in September 2019. Milgard Windows and Doors, a Tacoma, Washington-based window and patio door manufacturer that Masco had owned since 2001, followed in November, purchased by MI Windows and Doors LLC for approximately $725 million. The cabinetry division (KraftMaid, Merillat, QualityCabinets and Cardell) was sold to ACProducts, Inc. in February 2020 for $1.0 billion. ACProducts and Masco Cabinetry then merged to form Cabinetworks Group.
2020–present
Masco acquired Steamist Co., Inc., a steam bath manufacturer in East Rutherford, New Jersey, in July 2021. The business was placed under Masco's Delta brand. Two years later, Masco acquired Sauna360 Group Oy, a Finnish sauna manufacturer, for approximately €124 million. The deal brought the Tylö, Helo, Kastor, Finnleo and Amerec brands under Masco's Watkins Wellness subsidiary.
Masco sold Kichler Lighting, a decorative lighting and ceiling fan company in Solon, Ohio, to Kingswood Capital Management in September 2024 for approximately $125 million. Masco had paid $550 million for the business in 2018.Kingswood merged Kichler with its Progress Lighting business.
CEO Keith Allman announced his retirement in March 2025 after 27 years at the company. The board appointed Jonathon Nudi, a former General Mills executive who had joined Masco's board in 2023, to succeed him effective July 7, 2025.
Masco segments and businesses
Plumbing products
Axor
BrassCraft Manufacturing Company
Brasstech, Inc.
Newport Brass
Ginger
Bristan
Delta Faucet Company
Peerless (economy)
Delta Faucet (mainstream)
Brizo (luxury)
Kraus (sinks)
Hansgrohe SE
Heritage Bathrooms
Hüppe
Masco Canada Ltd.
Mirolin Industries Corporation
Watkins Manufacturing Company
Hot Spring Spas
Caldera Spas
Endless Pools
Decorative architectural products
Behr Paint Company
KILZ
Liberty Hardware
Kichler Lighting
Other specialty products
Duraflex
Milgard Windows & Doors – SOLD to MI Windows and Doors 2019
VaporTech
American Dryer (1952-1985)
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
MAS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
MAS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| May 22, 2026 | $0.3200 |
| Feb. 20, 2026 | $0.3200 |
| Nov. 7, 2025 | $0.3100 |
| Aug. 8, 2025 | $0.3100 |
| May 23, 2025 | $0.3100 |
| Feb. 21, 2025 | $0.3100 |
| Nov. 8, 2024 | $0.2900 |
| Aug. 2, 2024 | $0.2900 |
| May 23, 2024 | $0.2900 |
| Feb. 21, 2024 | $0.2900 |
| Nov. 9, 2023 | $0.2850 |
| Aug. 10, 2023 | $0.2850 |
| May 25, 2023 | $0.2850 |
| Feb. 22, 2023 | $0.2850 |
| Nov. 9, 2022 | $0.2800 |
| Aug. 11, 2022 | $0.2800 |
| May 26, 2022 | $0.2800 |
| Feb. 24, 2022 | $0.2800 |
| Nov. 10, 2021 | $0.2350 |
| Aug. 12, 2021 | $0.2350 |
MAS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 3 12.0%
- Buy 9 36.0%
- Hold 12 48.0%
- Sell 1 4.0%
- Strong Sell 0 0.0%
12-Month Price Target
17 analysts · 2026-08-15Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.64 | $1.33 | 0.31% |
| March 31, 2026 | $1.04 | $0.88 | 0.16% |
| Dec. 31, 2025 | $0.82 | $0.80 | 0.02% |
| Sept. 30, 2025 | $0.97 | $1.04 | -0.07% |
| June 30, 2025 | $1.30 | $1.10 | 0.20% |
| March 31, 2025 | $0.87 | $0.93 | -0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MAS | $12.96B | 16.4 | -3.4% | 10.7% | -349.1% | 35.4% |
| CARR | $44.18B | 30.7 | -3.3% | 6.8% | 10.2% | — |
| CSL | $13.11B | 18.7 | 0.33% | 14.8% | 37.8% | — |
| LII | — | 21.3 | -2.7% | 15.5% | 78.1% | 33.4% |
| MAIR | — | — | — | — | — | — |
| OC | $8.98B | -18.0 | 2.6% | -5.2% | -11.7% | 28.1% |
| WMS | $9.96B | 25.2 | 5.0% | 14.0% | 25.2% | 38.3% |
| MOD | — | 95.9 | 23.1% | 3.8% | 11.6% | 23.0% |
| AOS | — | 17.4 | 0.32% | 14.3% | 29.2% | 38.8% |
| ZWS | $7.76B | 40.4 | 8.3% | 11.7% | 12.5% | 45.1% |
| SSD | $6.66B | 19.6 | 4.5% | 14.8% | 17.4% | 45.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.56B | $7.83B | $7.97B | $8.68B | $8.38B | $7.19B | $6.71B | $6.65B | $6.01B | $7.36B | $7.14B | $7.01B | |
| Cost of Revenue | $4.88B | $5.00B | $5.13B | $5.97B | $5.51B | $4.60B | $4.34B | $4.33B | $3.79B | $4.90B | $4.89B | $4.95B | |
| Gross Profit | $2.68B | $2.83B | $2.84B | $2.71B | $2.86B | $2.59B | $2.37B | $2.33B | $2.22B | $2.46B | $2.25B | $2.06B | |
| SG&A Expense | $1.43B | $1.47B | $1.47B | $1.39B | $1.41B | $1.29B | $1.27B | $1.25B | $1.19B | $1.38B | $1.34B | $1.35B | |
| Operating Income | $1.25B | $1.36B | $1.35B | $1.30B | $1.41B | $1.29B | $1.09B | $1.08B | $1.03B | $1.09B | $914M | $721M | |
| Interest Expense | · | · | $106M | $108M | $278M | $144M | $159M | $156M | $279M | $229M | $225M | $225M | |
| Other Non-op | $-12M | $-103M | $-4M | $4M | $-439M | $-20M | $-15M | $-14M | $-32M | $-26M | $0 | $11M | |
| Pretax Income | $1.14B | $1.16B | $1.24B | $1.19B | $688M | $1.13B | $914M | $907M | $718M | $832M | $689M | $507M | |
| Income Tax | $277M | $287M | $278M | $288M | $210M | $269M | $230M | $221M | $245M | $296M | $293M | $-361M | |
| Net Income | $810M | $822M | $908M | $844M | $410M | $1.22B | $935M | $734M | $533M | $493M | $355M | $856M | |
| EPS (Basic) | $3.87 | $3.77 | $4.03 | $3.65 | $1.63 | $4.60 | $3.24 | $2.38 | $1.68 | $1.49 | $1.03 | $2.40 | |
| EPS (Diluted) | $3.86 | $3.76 | $4.02 | $3.63 | $1.62 | $4.59 | $3.22 | $2.37 | $1.66 | $1.48 | $1.02 | $2.38 | |
| Shares (Basic) | 209,000,000 | 218,000,000 | 225,000,000 | 231,000,000 | 249,000,000 | 264,000,000 | 287,000,000 | 305,000,000 | 314,000,000 | 326,000,000 | 338,000,000 | 349,000,000 | |
| Shares (Diluted) | 210,000,000 | 219,000,000 | 226,000,000 | 232,000,000 | 251,000,000 | 264,000,000 | 288,000,000 | 307,000,000 | 318,000,000 | 330,000,000 | 341,000,000 | 352,000,000 | |
| EBITDA | $1.40B | $1.51B | $1.50B | $1.44B | $1.56B | $1.43B | $1.25B | $1.37B | $1.30B | $1.19B | $1.05B | $955M |
Balance Sheet 30
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $647M | $634M | $634M | $452M | $926M | $1.33B | $697M | $552M | $1.19B | $990M | $1.47B | $1.38B | |
| Short-term Investments | · | · | · | · | · | · | · | $0 | $108M | $201M | $248M | $306M | |
| Receivables | $1.03B | $1.03B | $1.09B | $1.15B | $1.17B | $1.14B | $997M | $990M | $1.07B | $917M | $853M | $820M | |
| Inventory | $1.05B | $938M | $1.02B | $1.24B | $1.22B | $876M | $754M | $798M | $784M | $712M | $687M | $712M | |
| Prepaid Expense | $119M | $123M | $110M | $109M | $109M | $149M | $90M | $84M | $111M | $114M | $72M | $68M | |
| Current Assets | $2.84B | $2.73B | $2.86B | $2.95B | $3.42B | $3.49B | $2.71B | $2.77B | $3.26B | $2.93B | $3.33B | $3.62B | |
| PP&E (Net) | · | · | $1.12B | $975M | $896M | $908M | $878M | $885M | $1.13B | $1.06B | $1.03B | $1.05B | |
| PP&E (Gross) | · | · | $2.39B | $2.17B | $2.04B | $2.02B | $1.90B | $1.84B | $2.67B | $2.62B | $2.57B | $2.63B | |
| Accum. Depreciation | · | · | $1.27B | $1.19B | $1.14B | $1.11B | $1.02B | $957M | $1.54B | $1.56B | $1.55B | $1.58B | |
| Goodwill | $623M | $597M | $604M | $537M | $568M | $563M | $509M | $511M | $453M | $832M | $839M | $840M | |
| Intangibles | $205M | $220M | $377M | $350M | $388M | $357M | $259M | $288M | $187M | $154M | $160M | $142M | |
| Other Non-current Assets | $105M | $123M | $139M | $113M | $114M | $294M | $139M | $90M | $114M | $157M | $310M | $419M | |
| Total Assets | $5.20B | $5.02B | $5.36B | $5.19B | $5.58B | $5.78B | $5.03B | $5.39B | $5.53B | $5.16B | $5.66B | $7.21B | |
| Accounts Payable | $810M | $789M | $840M | $877M | $1.04B | $893M | $697M | $736M | $824M | $800M | $749M | $721M | |
| Accrued Liabilities | $761M | $767M | $852M | $807M | $884M | $1.04B | $700M | $645M | $727M | $658M | $650M | $685M | |
| Short-term Debt | $2M | $3M | $3M | $205M | $10M | $3M | $2M | $8M | $116M | $2M | $1.00B | $505M | |
| Current Liabilities | $1.57B | $1.56B | $1.70B | $1.89B | $1.94B | $1.93B | $1.55B | $1.68B | $1.67B | $1.46B | $2.40B | $2.21B | |
| Capital Leases | $221M | $223M | $258M | $255M | $172M | $149M | $162M | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | $106M | |
| Other Non-current Liabilities | $387M | $342M | $349M | $339M | $437M | $481M | $589M | $549M | $715M | $785M | $800M | $781M | |
| Total Liabilities | $5.12B | $5.07B | $5.25B | $5.43B | $5.50B | $5.36B | $5.08B | $5.32B | $5.35B | $5.24B | $5.61B | $6.08B | |
| Long-term Debt | $2.95B | $2.95B | $2.95B | $3.15B | $2.96B | $2.79B | $2.77B | $2.98B | $3.08B | $3.00B | $3.41B | $3.42B | |
| Total Debt | $2.95B | $2.95B | $2.95B | $3.15B | $2.96B | $2.79B | $2.77B | $2.98B | $3.08B | $3.00B | $3.42B | $3.42B | |
| Common Stock | $204M | $212M | $221M | $225M | $241M | $258M | $276M | $294M | $310M | $318M | $330M | $345M | |
| Paid-in Capital | $0 | $0 | $0 | $16M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | |
| Retained Earnings | $-688M | $-693M | $-596M | $-947M | $-652M | $79M | $-332M | $-278M | $-298M | $-381M | $-300M | $690M | |
| AOCI | $298M | $201M | $249M | $226M | $232M | $-142M | $-179M | $-127M | $-65M | $-235M | $-165M | $-111M | |
| Stockholders' Equity | $-185M | $-279M | $-126M | $-480M | $-179M | $195M | $-235M | $-111M | $-53M | $-298M | $-135M | $924M | |
| Liabilities + Equity | $5.20B | $5.02B | $5.36B | $5.19B | $5.58B | $5.78B | $5.03B | $5.39B | $5.53B | $5.14B | $5.66B | $7.21B | |
| Shares Outstanding | 204,300,000 | 212,500,000 | 220,600,000 | 225,300,000 | 241,200,000 | 258,200,000 | 275,600,000 | 293,900,000 | 310,400,000 | 318,000,000 | 330,500,000 | 345,000,000 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $148M | $150M | $149M | $145M | $151M | $133M | $159M | $156M | $127M | $134M | $133M | $167M | |
| Stock-based Comp | $30M | $39M | $31M | $49M | $61M | $45M | $35M | $27M | $38M | $29M | $41M | $47M | |
| Amort. of Intangibles | $20M | $29M | $31M | $29M | $31M | $24M | $23M | $20M | $4M | $4M | $6M | $4M | |
| Other Non-cash | $34M | $64M | $325M | $-198M | $308M | $-449M | $-296M | $115M | $53M | $72M | $170M | $-468M | |
| Operating Cash Flow | $1.02B | $1.07B | $1.41B | $840M | $930M | $953M | $833M | $1.03B | $751M | $789M | $810M | $602M | |
| CapEx | $156M | $168M | $243M | $224M | $128M | $114M | $162M | $219M | $173M | $180M | $158M | $128M | |
| Investing Cash Flow | $-144M | $-50M | $-383M | $-230M | $-12M | $531M | $582M | $-651M | $-25M | $-124M | $-189M | $-100M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | $4M | $4M | |
| Net Debt Issued | · | · | · | $-10M | $-3M | $-2M | $-8M | $-1M | $-5M | $-4M | $0 | $-2M | |
| Stock Issued | · | · | · | · | · | · | · | $0 | $0 | $1M | $2M | $1M | |
| Stock Repurchased | $571M | $751M | $353M | $914M | $1.03B | $727M | $896M | $654M | $331M | $459M | $456M | $158M | |
| Net Stock Activity | $-571M | $-751M | $-353M | $-914M | $-1.03B | $-727M | $-896M | $-654M | $-331M | $-458M | $-454M | $-157M | |
| Dividends Paid | $261M | $254M | $257M | $258M | $211M | $145M | $144M | $134M | $129M | $128M | $126M | $117M | |
| Financing Cash Flow | $-888M | $-1.02B | $-854M | $-1.07B | $-1.30B | $-886M | $-1.29B | $-1.02B | $-577M | $-1.11B | $-521M | $-297M | |
| Net Change in Cash | $14M | $-1M | $182M | $-474M | $-400M | $629M | $138M | $-635M | $204M | $-478M | $85M | $160M | |
| Taxes Paid | $236M | $260M | $328M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $866M | $907M | $1.17B | $616M | $802M | $839M | $671M | $813M | $578M | $546M | $541M | $474M | |
| Levered FCF | · | · | $1.09B | $534M | $609M | $729M | $552M | $696M | $396M | $399M | $412M | $119M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.4% | 36.2% | 35.6% | 31.3% | 34.2% | 36.0% | 35.4% | 32.2% | 34.2% | 33.4% | 31.6% | 28.0% | |
| Operating Margin | 16.5% | 17.4% | 16.9% | 14.9% | 16.8% | 18.0% | 16.2% | 14.5% | 15.3% | 14.3% | 12.8% | 9.2% | |
| Net Margin | 10.7% | 10.5% | 11.4% | 9.7% | 4.9% | 17.0% | 13.9% | 8.8% | 7.0% | 6.7% | 5.0% | 10.1% | |
| Pretax Margin | 15.0% | 14.8% | 15.5% | 13.7% | 8.2% | 15.7% | 13.6% | 12.5% | 11.6% | 11.3% | 9.7% | 6.8% | |
| EBITDA Margin | 18.5% | 19.3% | 18.8% | 16.6% | 18.6% | 19.9% | 18.6% | 16.4% | 17.0% | 16.1% | 14.7% | 11.2% | |
| ROA | 15.9% | 15.8% | 17.2% | 15.7% | 7.2% | 22.7% | 17.9% | 13.4% | 10.0% | 9.1% | 5.5% | 12.2% | |
| ROE | -349.1% | -405.9% | -299.7% | -256.2% | 5125.0% | -6120.0% | -540.5% | -895.1% | -297.8% | -226.8% | 90.0% | 115.4% | |
| ROIC | 34.2% | 38.4% | 37.0% | 36.8% | 35.1% | 33.0% | 32.1% | 31.8% | 25.3% | 25.1% | 16.0% | 28.6% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 1.8 | 1.7 | 1.6 | 1.8 | 1.8 | 1.8 | 1.6 | 2.0 | 2.0 | 1.3 | 1.7 | |
| Quick Ratio | 1.1 | 1.1 | 1.0 | 0.8 | 1.1 | 1.3 | 1.1 | 1.0 | 1.4 | 1.4 | 1.0 | 1.2 | |
| Debt / Equity | -15.9 | -10.6 | -23.4 | -6.6 | -16.5 | 14.3 | -11.8 | -26.8 | -51.4 | -10.1 | -25.4 | 3.7 | |
| LT Debt / Equity | -15.9 | -10.6 | -23.4 | -6.1 | -16.5 | 14.3 | -11.8 | -26.8 | -49.5 | -10.1 | -17.9 | 3.2 | |
| Interest Coverage | · | · | 12.7 | 12.0 | 5.1 | 9.0 | 6.8 | 7.8 | 4.2 | 4.6 | 4.1 | 3.5 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.5 | 1.5 | 1.5 | 1.6 | 1.5 | 1.3 | 1.3 | 1.5 | 1.4 | 1.4 | 1.1 | 1.2 | |
| Inventory Turnover | 4.9 | 5.1 | 4.5 | 4.9 | 5.3 | 5.6 | 5.6 | 6.6 | 6.7 | 7.0 | 7.0 | 7.7 | |
| Receivables Turnover | 7.3 | 7.4 | 7.1 | 7.5 | 7.3 | 6.7 | 6.8 | 7.5 | 7.9 | 8.3 | 8.5 | 8.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -3.4% | -1.7% | -8.2% | 3.6% | 16.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -4.5% | -2.2% | 3.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 1.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 2.7% | -6.5% | 10.7% | 124.1% | -64.7% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 2.1% | 32.4% | -4.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -3.4% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.5% | -9.5% | 7.6% | 105.8% | -66.5% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -1.4% | 26.1% | -9.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -7.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 12.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.56B | $7.83B | $7.97B | $8.68B | $8.38B | $7.19B | $6.71B | $6.65B | $6.01B | $7.36B | $7.14B | $7.01B | |
| Net Income TTM | $810M | $822M | $908M | $844M | $410M | $1.22B | $935M | $734M | $533M | $493M | $355M | $856M | |
| Market Cap | $12.96B | $15.42B | $14.78B | $10.51B | $16.94B | $14.18B | $13.23B | $8.59B | $13.64B | $10.06B | $9.35B | $7.64B | |
| Enterprise Value | $15.26B | $17.74B | $17.09B | $13.21B | $18.97B | $15.65B | $15.30B | $11.01B | $15.42B | $11.86B | $11.06B | $9.37B | |
| P/E | 16.4 | 19.3 | 16.7 | 12.9 | 43.3 | 12.0 | 14.9 | 12.3 | 26.5 | 21.4 | 27.7 | 9.3 | |
| P/S | 1.7 | 2.0 | 1.9 | 1.2 | 2.0 | 2.0 | 2.0 | 1.3 | 2.3 | 1.4 | 1.3 | 1.1 | |
| P/B | -70.1 | -55.3 | -117.3 | -21.9 | -94.6 | 72.7 | -56.3 | -77.4 | -227.3 | -33.7 | -69.3 | 8.3 | |
| P / Cash Flow | 12.7 | 14.3 | 10.5 | 12.5 | 18.2 | 14.9 | 15.9 | 8.3 | 18.2 | 13.9 | 13.4 | 12.7 | |
| P / FCF | 15.0 | 17.0 | 12.6 | 17.1 | 21.1 | 16.9 | 19.7 | 10.6 | 23.6 | 18.4 | 17.3 | 16.1 | |
| EV / EBITDA | 10.9 | 11.7 | 11.4 | 9.2 | 12.2 | 11.0 | 12.3 | 8.1 | 11.9 | 10.0 | 10.6 | 9.8 | |
| EV / FCF | 17.6 | 19.6 | 14.6 | 21.5 | 23.7 | 18.7 | 22.8 | 13.5 | 26.7 | 21.7 | 20.4 | 19.8 | |
| EV / Revenue | 2.0 | 2.3 | 2.1 | 1.5 | 2.3 | 2.2 | 2.3 | 1.7 | 2.6 | 1.6 | 1.5 | 1.3 | |
| Dividend Yield | 2.0% | 1.7% | 1.7% | 2.5% | 1.2% | 1.0% | 1.1% | 1.6% | 0.95% | 1.3% | 1.4% | 1.5% | |
| Earnings Yield | 6.1% | 5.2% | 6.0% | 7.8% | 2.3% | 8.4% | 6.7% | 8.1% | 3.8% | 4.7% | 3.6% | 10.8% | |
| Payout Ratio | 32.2% | 30.9% | 28.3% | 30.6% | 51.5% | 11.8% | 15.4% | 18.3% | 24.2% | 26.1% | 35.5% | 13.7% | |
| Annual Payout | $261M | $254M | $257M | $258M | $211M | $145M | $144M | $134M | $129M | $128M | $126M | $117M |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.99B | $1.92B | $1.79B | $1.92B | $2.05B | $1.80B | $1.83B | $1.98B | $2.09B | $1.93B | $1.88B | $1.98B | $2.13B | $1.98B | $1.92B | $2.20B | |
| Cost of Revenue | $1.12B | $1.23B | $1.19B | $1.26B | $1.28B | $1.16B | $1.19B | $1.26B | $1.31B | $1.24B | $1.23B | $1.24B | $1.36B | $1.31B | $1.38B | $1.51B | |
| Gross Profit | $868M | $686M | $607M | $656M | $772M | $644M | $636M | $725M | $785M | $685M | $654M | $744M | $769M | $669M | $545M | $695M | |
| SG&A Expense | $397M | $369M | $354M | $353M | $361M | $358M | $345M | $368M | $388M | $367M | $392M | $361M | $366M | $354M | $334M | $344M | |
| Operating Income | $470M | $316M | $247M | $303M | $412M | $286M | $291M | $357M | $397M | $318M | $247M | $383M | $403M | $315M | $185M | $351M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $25M | · | $26M | $28M | $28M | · | $29M | |
| Other Non-op | $-2M | $1M | $4M | $-2M | $-7M | $-7M | $-8M | $-85M | $-5M | $-5M | $10M | $-11M | $-1M | $-2M | $0 | $-12M | |
| Pretax Income | $440M | $291M | $227M | $276M | $378M | $254M | $258M | $248M | $366M | $289M | $233M | $346M | $374M | $285M | $159M | $310M | |
| Income Tax | $107M | $63M | $50M | $76M | $95M | $56M | $65M | $68M | $94M | $60M | $32M | $86M | $96M | $64M | $33M | $77M | |
| Net Income | $318M | $213M | $165M | $189M | $270M | $186M | $182M | $167M | $258M | $215M | $191M | $249M | $263M | $205M | $115M | $218M | |
| EPS (Basic) | $1.60 | $1.05 | $0.80 | $0.91 | $1.29 | $0.87 | $0.85 | $0.77 | $1.18 | $0.97 | $0.84 | $1.11 | $1.17 | $0.91 | $0.51 | $0.97 | |
| EPS (Diluted) | $1.60 | $1.05 | $0.81 | $0.90 | $1.28 | $0.87 | $0.85 | $0.77 | $1.17 | $0.97 | $0.86 | $1.10 | $1.16 | $0.90 | $0.51 | $0.97 | |
| Shares (Basic) | 199,000,000 | 204,000,000 | -422,000,000 | 209,000,000 | 210,000,000 | 212,000,000 | -439,000,000 | 217,000,000 | 219,000,000 | 221,000,000 | -451,000,000 | 225,000,000 | 225,000,000 | 226,000,000 | -465,000,000 | 226,000,000 | |
| Shares (Diluted) | 199,000,000 | 204,000,000 | -423,000,000 | 209,000,000 | 211,000,000 | 213,000,000 | -440,000,000 | 218,000,000 | 220,000,000 | 221,000,000 | -453,000,000 | 226,000,000 | 226,000,000 | 227,000,000 | -469,000,000 | 227,000,000 | |
| EBITDA | $508M | $354M | · | $341M | $448M | $321M | · | $357M | $397M | $356M | · | $383M | $403M | $350M | · | $351M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $548M | $388M | $647M | $559M | $390M | $377M | $634M | $646M | $398M | $368M | · | $560M | $380M | $510M | · | $464M | |
| Receivables | $1.34B | $1.32B | $1.03B | $1.18B | $1.32B | $1.26B | $1.03B | $1.15B | $1.31B | $1.31B | · | $1.25B | $1.37B | $1.33B | · | $1.33B | |
| Inventory | $1.06B | $1.07B | $1.05B | $1.07B | $1.10B | $1.05B | $938M | $1.01B | $1.06B | $1.06B | · | $1.05B | $1.14B | $1.20B | · | $1.34B | |
| Prepaid Expense | $119M | $119M | $119M | $150M | $119M | $116M | $123M | $153M | $129M | $112M | · | $113M | $112M | $113M | · | $131M | |
| Current Assets | $3.07B | $2.90B | $2.84B | $2.96B | $2.92B | $2.80B | $2.73B | $2.96B | $2.90B | $2.85B | · | $2.96B | $3.01B | $3.15B | · | $3.26B | |
| PP&E (Net) | · | · | · | · | · | · | · | $1.12B | $1.12B | $1.11B | · | $1.08B | $1.06B | $1.02B | · | $902M | |
| Goodwill | $618M | $618M | $623M | $622M | $621M | $605M | $597M | $610M | $601M | $598M | $604M | $593M | $540M | $540M | $537M | $544M | |
| Intangibles | $194M | $198M | $205M | $213M | $219M | $218M | $220M | $230M | $359M | $367M | · | $395M | $337M | $344M | · | $359M | |
| Other Non-current Assets | $77M | $100M | $105M | $98M | $106M | $115M | $123M | $128M | $137M | $148M | · | $72M | $97M | $113M | · | $85M | |
| Total Assets | $5.40B | $5.23B | $5.20B | $5.31B | $5.29B | $5.11B | $5.02B | $5.30B | $5.37B | $5.34B | $5.36B | $5.37B | $5.31B | $5.43B | $5.19B | $5.42B | |
| Accounts Payable | $890M | $894M | $810M | $842M | $871M | $868M | $789M | $874M | $924M | $899M | · | $844M | $958M | $913M | · | $1.05B | |
| Accrued Liabilities | $754M | $630M | $761M | $732M | $690M | $602M | $767M | $742M | $718M | $690M | · | $752M | $712M | $692M | · | $771M | |
| Short-term Debt | $2M | $129M | $2M | $2M | $48M | $133M | $3M | $3M | $3M | $52M | · | $66M | $79M | $413M | · | $405M | |
| Current Liabilities | $1.65B | $1.65B | $1.57B | $1.58B | $1.61B | $1.60B | $1.56B | $1.62B | $1.65B | $1.64B | · | $1.66B | $1.75B | $2.02B | · | $2.22B | |
| Capital Leases | $246M | $228M | $221M | $226M | $231M | $228M | $223M | $230M | $245M | $252M | · | $260M | $252M | $254M | · | $253M | |
| Other Non-current Liabilities | $383M | $380M | $387M | $396M | $352M | $337M | $342M | $360M | $347M | $340M | · | $336M | $333M | $332M | · | $410M | |
| Total Liabilities | $5.52B | $5.21B | $5.12B | $5.14B | $5.14B | $5.11B | $5.07B | $5.15B | $5.18B | $5.18B | · | $5.20B | $5.28B | $5.55B | · | $5.83B | |
| Long-term Debt | · | · | $2.95B | · | · | · | $2.95B | · | · | · | · | · | · | · | · | · | |
| Total Debt | $3.25B | $3.07B | · | $2.95B | $2.99B | $3.08B | · | $2.95B | $2.95B | $3.00B | · | $3.01B | $3.02B | $3.36B | · | $3.35B | |
| Common Stock | $197M | $202M | $204M | $208M | $209M | $211M | $212M | $216M | $218M | $220M | · | $224M | $225M | $225M | · | $225M | |
| Paid-in Capital | $6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $4M | $13M | $0 | · | $15M | |
| Retained Earnings | $-849M | $-722M | $-688M | $-576M | $-583M | $-693M | $-693M | $-551M | $-467M | $-527M | · | $-507M | $-671M | $-847M | · | $-998M | |
| AOCI | $280M | $278M | $298M | $291M | $289M | $228M | $201M | $247M | $223M | $231M | · | $223M | $241M | $243M | · | $141M | |
| Stockholders' Equity | $-365M | $-242M | $-185M | $-78M | $-84M | $-254M | $-279M | $-88M | $-26M | $-75M | · | $-56M | $-192M | $-379M | · | $-617M | |
| Liabilities + Equity | $5.40B | $5.23B | $5.20B | $5.31B | $5.29B | $5.11B | $5.02B | $5.30B | $5.37B | $5.34B | · | $5.37B | $5.31B | $5.43B | · | $5.42B | |
| Shares Outstanding | 197,200,000 | 201,700,000 | 204,300,000 | 207,700,000 | 209,400,000 | 210,900,000 | 212,500,000 | 215,700,000 | 218,200,000 | 220,200,000 | · | 224,400,000 | 224,800,000 | 225,000,000 | · | 225,300,000 |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $38M | $38M | $39M | $38M | $36M | $35M | $36M | $38M | $38M | $38M | $42M | $37M | $35M | $35M | $40M | $34M | |
| Other Non-cash | · | $-330M | · | · | · | $-379M | · | · | · | $-347M | · | · | · | $-207M | · | · | |
| Operating Cash Flow | $496M | $-79M | $418M | $456M | $306M | $-158M | $407M | $416M | $346M | $-94M | $485M | $480M | $415M | $33M | $320M | $346M | |
| CapEx | $43M | $34M | $47M | $41M | $36M | $32M | $56M | $38M | $43M | $31M | $62M | $48M | $72M | $61M | $87M | $67M | |
| Investing Cash Flow | $-42M | $-36M | $-33M | $-41M | $-37M | $-33M | $-62M | $92M | $-47M | $-33M | $-62M | $-184M | $-78M | $-59M | $-86M | $-70M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $-1M | · | · | · | $-3M | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Stock Repurchased | $390M | $202M | $217M | $123M | $101M | $130M | $269M | $192M | $145M | $145M | $227M | $45M | $28M | $53M | $0 | $0 | |
| Net Stock Activity | · | $-202M | · | · | · | $-130M | · | · | · | $-145M | · | · | · | $-53M | · | · | |
| Dividends Paid | $64M | $65M | $64M | $65M | $66M | $66M | $63M | $63M | $64M | $64M | $64M | $64M | $64M | $65M | $63M | $64M | |
| Financing Cash Flow | $-296M | $-137M | $-296M | $-248M | $-272M | $-72M | $-344M | $-269M | $-270M | $-134M | $-356M | $-112M | $-464M | $78M | $-264M | $-234M | |
| Net Change in Cash | $159M | $-259M | $89M | $168M | $14M | $-257M | $-13M | $248M | $30M | $-266M | $74M | $180M | $-130M | $58M | $-12M | $24M | |
| Free Cash Flow | · | $-113M | · | · | · | $-190M | · | · | · | $-125M | · | · | · | $-28M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-145M | · | · | · | $-50M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.6% | 35.8% | · | 34.2% | 37.6% | 35.8% | · | 36.6% | 37.5% | 35.6% | · | 37.6% | 36.1% | 33.8% | · | 31.5% | |
| Operating Margin | 23.6% | 16.5% | · | 15.8% | 20.1% | 15.9% | · | 18.0% | 19.0% | 16.5% | · | 19.4% | 18.9% | 15.9% | · | 15.9% | |
| Net Margin | 16.0% | 11.1% | · | 9.9% | 13.2% | 10.3% | · | 8.4% | 12.3% | 11.2% | · | 12.6% | 12.4% | 10.4% | · | 9.9% | |
| Pretax Margin | 22.1% | 15.2% | · | 14.4% | 18.4% | 14.1% | · | 12.5% | 17.5% | 15.0% | · | 17.5% | 17.6% | 14.4% | · | 14.1% | |
| EBITDA Margin | 25.5% | 18.5% | · | 17.8% | 21.8% | 17.8% | · | 18.0% | 19.0% | 18.5% | · | 19.4% | 18.9% | 17.7% | · | 15.9% | |
| ROA | 5.9% | 4.1% | · | 3.6% | 5.1% | 3.6% | · | 3.1% | 4.8% | 4.0% | · | 4.6% | 4.9% | 3.7% | · | 4.0% | |
| ROE | -141.7% | -85.9% | · | -227.7% | -490.9% | -113.1% | · | -231.9% | -236.7% | -94.7% | · | -74.0% | -56.3% | -54.7% | · | -58.7% | |
| ROIC | 12.3% | 8.7% | · | 7.6% | 10.6% | 7.9% | · | 9.1% | 10.1% | 8.6% | · | 9.7% | 10.6% | 8.2% | · | 9.7% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | 1.8 | · | 1.9 | 1.8 | 1.7 | · | 1.8 | 1.8 | 1.7 | · | 1.8 | 1.7 | 1.6 | · | 1.5 | |
| Quick Ratio | 1.1 | 1.0 | · | 1.1 | 1.1 | 1.0 | · | 1.1 | 1.0 | 1.0 | · | 1.1 | 1.0 | 0.9 | · | 0.8 | |
| Debt / Equity | -8.9 | -12.7 | · | -37.8 | -35.6 | -12.1 | · | -33.5 | -113.4 | -40.0 | · | -53.8 | -15.8 | -8.9 | · | -5.4 | |
| LT Debt / Equity | -8.9 | -12.2 | · | -37.8 | -35.1 | -11.6 | · | -33.5 | -113.3 | -39.3 | · | -52.6 | -15.3 | -7.8 | · | -4.8 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 12.7 | · | 14.7 | 14.4 | 11.2 | · | 12.1 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Inventory Turnover | 1.0 | 1.2 | · | 1.2 | 1.2 | 1.1 | · | 1.2 | 1.2 | 1.1 | · | 1.0 | 1.1 | 1.0 | · | 1.2 | |
| Receivables Turnover | 1.5 | 1.5 | · | 1.6 | 1.6 | 1.4 | · | 1.7 | 1.6 | 1.5 | · | 1.5 | 1.5 | 1.4 | · | 1.7 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.88B | $7.69B | · | $7.75B | $7.93B | $7.80B | · | $7.98B | $8.12B | $8.01B | · | $8.29B | $8.66B | $8.74B | · | $8.96B | |
| Net Income TTM | $990M | $858M | · | $812M | $881M | $826M | · | $889M | $985M | $932M | · | $935M | $964M | $934M | · | $949M | |
| Market Cap | $16.05B | $12.18B | · | $14.62B | $13.48B | $14.67B | · | $18.11B | $14.55B | $17.37B | · | $11.99B | $12.90B | $11.19B | · | $10.52B | |
| Enterprise Value | $18.75B | $14.86B | · | $17.01B | $16.08B | $17.37B | · | $20.41B | $17.10B | $20.00B | · | $14.45B | $15.54B | $14.04B | · | $13.41B | |
| P/E | 16.8 | 14.7 | · | 18.4 | 15.7 | 18.4 | · | 20.9 | 15.2 | 19.1 | · | 12.9 | 13.6 | 12.4 | · | 11.6 | |
| P/S | 2.0 | 1.6 | · | 1.9 | 1.7 | 1.9 | · | 2.3 | 1.8 | 2.2 | · | 1.4 | 1.5 | 1.3 | · | 1.2 | |
| P/B | -44.0 | -50.3 | · | -187.4 | -160.4 | -57.7 | · | -205.7 | -559.5 | -231.6 | · | -214.2 | -67.2 | -29.5 | · | -17.0 | |
| P / Cash Flow | · | -154.1 | · | · | · | -92.8 | · | · | · | -184.8 | · | · | · | 339.0 | · | · | |
| P / FCF | · | -107.8 | · | · | · | -77.2 | · | · | · | -139.0 | · | · | · | -399.5 | · | · | |
| EV / EBITDA | 36.9 | 42.0 | · | 49.9 | 35.9 | 54.1 | · | 57.2 | 43.1 | 56.2 | · | 37.7 | 38.6 | 40.1 | · | 38.2 | |
| EV / FCF | · | -131.5 | · | · | · | -91.4 | · | · | · | -160.0 | · | · | · | -501.3 | · | · | |
| EV / Revenue | 2.4 | 1.9 | · | 2.2 | 2.0 | 2.2 | · | 2.6 | 2.1 | 2.5 | · | 1.7 | 1.8 | 1.6 | · | 1.5 | |
| Earnings Yield | 5.9% | 6.8% | · | 5.4% | 6.3% | 5.4% | · | 4.8% | 6.6% | 5.2% | · | 7.7% | 7.3% | 8.1% | · | 8.6% | |
| Payout Ratio | · | 30.5% | · | · | · | 35.5% | · | · | · | 29.8% | · | · | · | 31.7% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $7.56B | $7.83B | $7.97B | $8.68B | $8.38B |
| Gross Margin % | 35.4% | 36.2% | 35.6% | 31.3% | 34.2% |
| Operating Margin % | 16.5% | 17.4% | 16.9% | 14.9% | 16.8% |
| Net Income | $810M | $822M | $908M | $844M | $410M |
| Diluted EPS | $3.86 | $3.76 | $4.02 | $3.63 | $1.62 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | -15.9 | -10.6 | -23.4 | -6.6 | -16.5 |
| Current Ratio | 1.8 | 1.8 | 1.7 | 1.6 | 1.8 |
| Quick Ratio | 1.1 | 1.1 | 1.0 | 0.8 | 1.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $866M | $907M | $1.17B | $616M | $802M |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 992 filers · $9.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 148 (+40 vs prior Q) | 56 (-20 vs prior Q) | 321 (+49 vs prior Q) | 295 (-13 vs prior Q) | +33.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $1,072,450,416 | 13,179,924 | 11.03% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $994,307,631 | 12,219,585 | 10.23% | Shares |
| STATE STREET CORP | $872,777,224 | 10,726,032 | 8.98% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $379,779,639 | 4,688,872 | 3.91% | Shares |
| VAN ECK ASSOCIATES CORP | $349,639,241 | 4,296,906 | 3.60% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $291,908,854 | 3,587,426 | 3.00% | Shares |
| NORGES BANK | $177,549,747 | 2,182,005 | 1.83% | Shares |
| Holocene Advisors, LP | $175,541,454 | 2,157,324 | 1.81% | Shares |
| EARNEST PARTNERS LLC | $174,865,351 | 2,149,015 | 1.80% | Shares |
| Quantinno Capital Management LP | $170,774,414 | 2,098,739 | 1.76% | Shares |
| Impax Asset Management Group plc | $165,322,277 | 2,031,735 | 1.70% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $160,377,585 | 1,970,967 | 1.65% | Shares |
| Pictet Asset Management Holding SA | $139,543,798 | 1,715,002 | 1.44% | Shares |
| AMERICAN CENTURY COMPANIES INC | $136,882,611 | 1,682,223 | 1.41% | Shares |
| Capital World Investors | $135,802,136 | 1,668,946 | 1.40% | Shares |
| Eurizon Capital SGR S.p.A. | $131,020,406 | 1,613,023 | 1.35% | Shares |
| FIDUCIARY MANAGEMENT INC /WI/ | $127,174,231 | 1,562,913 | 1.31% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $126,976,235 | 1,567,995 | 1.31% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $126,220,458 | 1,567,956 | 1.30% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $103,863,760 | 1,276,438 | 1.07% | Shares |
| AMERIPRISE FINANCIAL INC | $100,087,702 | 1,230,032 | 1.03% | Shares |
| Empower Advisory Group, LLC | $94,326,144 | 1,159,225 | 0.97% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $93,607,163 | 1,150,389 | 0.96% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $92,105,144 | 1,131,930 | 0.95% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $89,668,197 | 1,101,981 | 0.92% | Shares |
| FIRST TRUST ADVISORS LP | $87,739,096 | 1,078,276 | 0.90% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $86,188,644 | 1,059,218 | 0.89% | Shares |
| Caisse de depot et placement du Quebec | $70,957,244 | 872,032 | 0.73% | Shares |
| CONFLUENCE INVESTMENT MANAGEMENT LLC | $62,468,096 | 767,704 | 0.64% | Shares |
| BANK OF AMERICA CORP /DE/ | $59,069,575 | 725,938 | 0.61% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $55,648,943 | 683,900 | 0.57% | Shares |
| SEIZERT CAPITAL PARTNERS, LLC | $50,902,143 | 625,564 | 0.52% | Shares |
| MILLENNIUM MANAGEMENT LLC | $49,665,400 | 610,365 | 0.51% | Shares |
| GOLDMAN SACHS GROUP INC | $48,454,208 | 595,480 | 0.50% | Shares |
| RAYMOND JAMES FINANCIAL INC | $48,094,594 | 591,061 | 0.49% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $47,702,593 | 586,243 | 0.49% | Shares |
| CAMBIAR INVESTORS LLC | $46,749,750 | 574,533 | 0.48% | Shares |
| Swiss National Bank | $46,568,051 | 572,300 | 0.48% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $43,686,739 | 536,890 | 0.45% | Shares |
| California Public Employees Retirement System | $42,068,697 | 517,005 | 0.43% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $40,692,893 | 500,097 | 0.42% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $38,288,208 | 470,545 | 0.39% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $35,645,349 | 438,065 | 0.37% | Shares |
| Aware Super Pty Ltd as trustee of Aware Super | $35,132,718 | 431,765 | 0.36% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $35,031,412 | 430,520 | 0.36% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $34,947,327 | 459,586 | 0.36% | Shares |
| Haverford Trust Co | $33,982,960 | 417,635 | 0.35% | Shares |
| Vanguard Global Advisers, LLC | $33,833,158 | 415,794 | 0.35% | Shares |
| RHUMBLINE ADVISERS | $32,735,954 | 402,311 | 0.34% | Shares |
| Boston Partners | $32,200,710 | 395,732 | 0.33% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $32,159,458 | 395,225 | 0.33% | Shares |
| Ensign Peak Advisors, Inc | $31,734,056 | 389,997 | 0.33% | Shares |
| BARCLAYS PLC | $31,043,632 | 381,512 | 0.32% | Shares |
| Boston Trust Walden Corp | $30,971,998 | 380,632 | 0.32% | Shares |
| BlackRock, Inc. | $30,776,412 | 378,228 | 0.32% | Shares |
| WINTON GROUP Ltd | $30,650,289 | 376,678 | 0.32% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $30,376,397 | 373,312 | 0.31% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $29,691,577 | 257,286 | 0.31% | Shares |
| LPL Financial LLC | $28,796,996 | 353,902 | 0.30% | Shares |
| VANGUARD GROUP INC | $28,795,356 | 453,756 | 0.30% | Shares |
| Trexquant Investment LP | $27,676,622 | 340,133 | 0.28% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $27,027,408 | 447,696 | 0.28% | Shares |
| Gotham Asset Management, LLC | $25,815,365 | 317,259 | 0.27% | Shares |
| Artisan Partners Limited Partnership | $25,221,527 | 309,961 | 0.26% | Shares |
| YACKTMAN ASSET MANAGEMENT LP | $23,278,736 | 286,085 | 0.24% | Shares |
| ASSETMARK, INC | $22,413,740 | 275,455 | 0.23% | Shares |
| Swedbank AB | $22,051,759 | 271,006 | 0.23% | Shares |
| Corient Private Wealth LP | $21,866,082 | 268,722 | 0.22% | Shares |
| NATIXIS | $21,844,509 | 268,459 | 0.22% | Shares |
| Foster Victor Wealth Advisors, LLC | $20,558,012 | 264,072 | 0.21% | Shares |
| HSBC HOLDINGS PLC | $18,747,973 | 230,404 | 0.19% | Shares |
| S.A.C. Capital Advisors (Hong Kong) Ltd. | $17,598,897 | 250,020 | 0.18% | Shares |
| Rafferty Asset Management, LLC | $17,118,051 | 210,373 | 0.18% | Shares |
| Squarepoint Ops LLC | $16,673,608 | 204,911 | 0.17% | Shares |
| 12th Street Asset Management Company, LLC | $16,449,331 | 202,155 | 0.17% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $16,425,918 | 201,867 | 0.17% | Shares |
| MML INVESTORS SERVICES, LLC | $16,173,471 | 198,765 | 0.17% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $15,961,013 | 196,273 | 0.16% | Shares |
| TD Waterhouse Canada Inc. | $14,957,205 | 183,135 | 0.15% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $14,791,955 | 233,091 | 0.15% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $14,532,682 | 178,600 | 0.15% | Shares |
| Legal & General Group Plc | $14,402,732 | 177,003 | 0.15% | Shares |
| United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund | $13,509,210 | 166,022 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $12,913,500 | 158,701 | 0.13% | Shares |
| Schonfeld Strategic Advisors LLC | $12,831,398 | 157,692 | 0.13% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $12,826,028 | 157,626 | 0.13% | Shares |
| FRANKLIN RESOURCES INC | $12,743,274 | 156,609 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $12,728,532 | 210,842 | 0.13% | Shares |
| CIBC Asset Management Inc | $12,590,543 | 154,732 | 0.13% | Shares |
| Amundi | $11,994,158 | 147,448 | 0.12% | Shares |
| APG Asset Management N.V. | $11,610,580 | 163,136 | 0.12% | Shares |
| Hosking Partners LLP | $11,569,024 | 142,178 | 0.12% | Shares |
| Calamos Advisors LLC | $11,483,748 | 141,130 | 0.12% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $11,450,956 | 140,727 | 0.12% | Shares |
| UBS Group AG | $11,435,496 | 140,537 | 0.12% | Shares |
| ROYAL BANK OF CANADA | $11,435,000 | 140,533 | 0.12% | Shares |
| AustralianSuper Pty Ltd | $11,155,502 | 137,096 | 0.11% | Shares |
| PRUDENTIAL FINANCIAL INC | $11,055,091 | 135,862 | 0.11% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $10,938,895 | 134,434 | 0.11% | Shares |
| Cetera Investment Advisers | $10,641,684 | 130,781 | 0.11% | Shares |
Company insiders 54 insiders · 13 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Alan H Barry | President & COO | July 1, 2007 F | 329,435 | 0 | 0 | $0 |
| Donald J Demarie Jr | Executive Vice President & COO | July 1, 2011 F | 394,316 | 0 | 0 | $0 |
| Gerald Volas | Gr. Pres. - N.A. Divrs. Bus. | June 10, 2015 M | 108,258 | 0 | 0 | $0 |
| Gregory Dale Wittrock | VP - General Counsel and Sec. | July 1, 2013 F | 81,565 | 0 | 0 | $0 |
| Charles F Greenwood | VP-Human Resources | Feb. 15, 2012 A | 79,342 | 0 | 0 | $0 |
| William T Anderson | VP-Controller | Feb. 16, 2011 A | 141,273 | 0 | 0 | $0 |
| Barry J Silverman | VP, General Counsel & Secy. | July 1, 2009 F | 175,484 | 0 | 0 | $0 |
| Eugene A Gargaro JR | V.P. & Secretary | July 1, 2008 F | 104,786 | 0 | 0 | $0 |
| John R Leekley | Sr. V.P. & General Counsel | July 1, 2008 F | 322,817 | 0 | 0 | $0 |
| Daniel R Foley | V.P.-Human Resources | May 21, 2007 S | 112,973 | 0 | 0 | $0 |
| David A Doran | V.P.-Taxes | Feb. 12, 2006 F | 88,860 | 0 | 0 | $0 |
| Robert B Rosowski | V.P. & Treasurer | July 1, 2005 F | 124,019 | 0 | 0 | $0 |
| Lillian Bauder | V.P.-Corporate Affairs | Sept. 30, 2004 A | 101,032 | 0 | 0 | $0 |
| Donald R Parfet | Director | Aug. 1, 2024 G | 32,370 | 0 | 0 | $0 |
| Dennis W Archer | Director | May 3, 2016 M | 46,759 | 0 | 0 | $0 |
| Verne G Istock | Director | May 6, 2014 A | 65,050 | 0 | 0 | $0 |
| Timothy Wadhams | Director | March 6, 2014 M | 693,239 | 0 | 0 | $0 |
| Thomas G Denomme | Director | May 8, 2012 A | 55,440 | 0 | 0 | $0 |
| Anthony F Earley JR | Director | May 7, 2012 A | 34,720 | 0 | 0 | $0 |
| David L Johnston | Director | July 28, 2010 A | 20,870 | 0 | 0 | $0 |
| Peter A Dow | Director | May 8, 2007 A | 28,555 | 0 | 0 | $0 |
| Wayne B Lyon | Director | Sept. 30, 2004 S | 58,193 | 0 | 0 | $0 |
| Aine Denari | — | May 8, 2026 A | 13,970 | 0 | 0 | $0 |
| Marie A Ffolkes | — | May 8, 2026 A | 24,517 | 0 | 0 | $0 |
| Gary A Coombe | — | May 8, 2026 A | 3,630 | 0 | 0 | $0 |
| Charles K. Stevens III | — | May 8, 2026 A | 18,090 | 0 | 0 | $0 |
| Reddy Sandeep | — | May 8, 2026 A | 10,460 | 0 | 0 | $0 |
| Christopher A O'Herlihy | — | May 8, 2026 A | 51,766 | 0 | 0 | $0 |
| Mark R. Alexander | — | May 8, 2026 A | 23,469 | 0 | 0 | $0 |
| John C Plant | — | May 8, 2026 A | 50,574 | 0 | 0 | $0 |
| Lisa A Payne | — | May 8, 2026 A | 16,487 | 0 | 2 | $-1,065,350 |
| Jai Shah | — | March 6, 2026 F | 45,966 | 0 | 1 | $-6,304,476 |
| Heath M Eisman | — | Feb. 26, 2026 S | 12,510 | 0 | 2 | $-235,125 |
| Jennifer A Stone | — | Feb. 25, 2026 F | 25,433 | 0 | 0 | $0 |
| Richard J. Westenberg | — | Feb. 25, 2026 F | 40,576 | 0 | 0 | $0 |
| Richard Allan Marshall | — | Feb. 25, 2026 F | 17,496 | 0 | 0 | $0 |
| Jonathon Nudi | — | Feb. 25, 2026 F | 42,809 | 0 | 0 | $0 |
| Kenneth G. Cole | — | Feb. 25, 2026 F | 39,700 | 0 | 2 | $-3,997,967 |
| Renee Straber | — | March 11, 2025 S | 33,027 | 0 | 0 | $0 |
| Keith J. Allman | — | Feb. 26, 2025 S | 60,267 | 0 | 0 | $0 |
| Imran Ahmad | — | Feb. 25, 2025 M | 10,961 | 0 | 0 | $0 |
| Bonnie S Van Etten | — | July 18, 2024 A | 13,620 | 0 | 0 | $0 |
| Robin L Zondervan | — | Feb. 25, 2024 F | 6,203 | 0 | 0 | $0 |
| John G Sznewajs | — | May 10, 2023 M | 187,784 | 0 | 0 | $0 |
| Reginald M Turner JR | — | Dec. 8, 2022 S | 18,866 | 0 | 0 | $0 |
| Richard A. O'Reagan | — | Feb. 25, 2022 F | 74,894 | 0 | 0 | $0 |
| John P Lindow | — | Feb. 8, 2022 F | 28,415 | 0 | 0 | $0 |
| Scott E. Mcdowell | — | Nov. 11, 2020 S | 14,026 | 0 | 0 | $0 |
| Michael J Losh | — | Aug. 3, 2020 J | 57,063 | 0 | 0 | $0 |
| MANOOGIAN RICHARD A | — | May 13, 2020 A | 210,843 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| MASCO CORPORATION ×2 filings | Dec. 29, 2006 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 164 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CAMX · ADVISORS' INNER CIRCLE FUND | 4.00% | 36,800 NS | April 30, 2026 | N-PORT |
| ITB · iShares Trust | 3.19% | 984,540 SH | Aug. 8, 2026 | Daily |
| BSMU · Invesco Exchange-Traded Self-Indexe… | 3.05% | 7,895,000 | Aug. 8, 2026 | Daily |
| NAIL · Direxion Shares ETF Trust | 2.36% | 184,967 NS | April 30, 2026 | N-PORT |
| ESN · Northern Lights Fund Trust II | 2.26% | 89,795 NS | May 31, 2026 | N-PORT |
| PZA · Invesco Exchange-Traded Fund Trust … | 2.19% | 94,300,000 | Aug. 8, 2026 | Daily |
| BSMT · Invesco Exchange-Traded Self-Indexe… | 2.02% | 5,385,000 | Aug. 8, 2026 | Daily |
| EPMB · Harbor ETF Trust | 1.97% | 1,234 NS | April 30, 2026 | N-PORT |
| BSMR · Invesco Exchange-Traded Self-Indexe… | 1.74% | 5,875,000 | Aug. 8, 2026 | Daily |
| BAB · Invesco Exchange-Traded Fund Trust … | 1.69% | 18,246,918.35 | Aug. 8, 2026 | Daily |
| SDG · iShares Trust | 1.58% | 36,150 SH | Aug. 8, 2026 | Daily |
| EPSV · Harbor ETF Trust | 1.48% | 1,024 NS | April 30, 2026 | N-PORT |
| BSMS · Invesco Exchange-Traded Self-Indexe… | 1.43% | 4,315,000 | Aug. 8, 2026 | Daily |
| EPMV · Harbor ETF Trust | 1.25% | 775 NS | April 30, 2026 | N-PORT |
| RSPN · Invesco Exchange-Traded Fund Trust | 1.22% | 170,273 SH | Aug. 8, 2026 | Daily |
| HOMZ · ETF Series Solutions | 0.94% | 4,531 NS | May 31, 2026 | N-PORT |
| BSMQ · Invesco Exchange-Traded Self-Indexe… | 0.85% | 2,260,000 | Aug. 8, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.61% | 26,908 NS | April 30, 2026 | N-PORT |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.51% | 49,360 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.39% | 33,864 NS | April 30, 2026 | N-PORT |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.37% | 34,331 NS | May 31, 2026 | N-PORT |
| SZNE · Pacer Funds Trust | 0.35% | 653 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.35% | 2,937,191 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.28% | 26,283 SH | Aug. 8, 2026 | Daily |
| HQGO · Lattice Strategies Trust | 0.28% | 1,867 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.27% | 16,649 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.27% | 551,155 NS | May 31, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.25% | 15,584 NS | April 30, 2026 | N-PORT |
| HELO · J.P. Morgan Exchange-Traded Fund Tr… | 0.25% | 141,305 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.24% | 9,019 SH | Aug. 8, 2026 | Daily |
| VALQ · AMERICAN CENTURY ETF TRUST | 0.23% | 11,401 NS | May 31, 2026 | N-PORT |
| VIS · VANGUARD WORLD FUND | 0.22% | 246,505 SH | Aug. 8, 2026 | Daily |
| SIZE · iShares Trust | 0.22% | 12,729 SH | Aug. 8, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.21% | 61,608 NS | April 30, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | 0.21% | 66,751 NS | April 30, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.21% | 52,611 SH | Aug. 8, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.21% | 2,618,725 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.20% | 4,627,383 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.20% | 25,885 SH | Aug. 8, 2026 | Daily |
| DFVE · DoubleLine ETF Trust | 0.19% | 865 NS | March 31, 2026 | N-PORT |
| DUSL · Direxion Shares ETF Trust | 0.19% | 1,429 NS | April 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.18% | 7,221 NS | April 30, 2026 | N-PORT |
| QDEF · FlexShares Trust | 0.18% | 13,219 NS | April 30, 2026 | N-PORT |
| IYJ · iShares Trust | 0.18% | 45,884 SH | Aug. 8, 2026 | Daily |
| QLC · FlexShares Trust | 0.17% | 21,840 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.17% | 5,027 NS | April 30, 2026 | N-PORT |
| UXI · ProShares Trust | 0.17% | 672 NS | May 31, 2026 | N-PORT |
| GLOF · iShares Trust | 0.15% | 4,412 SH | Aug. 8, 2026 | Daily |
| DEUS · DBX ETF Trust | 0.15% | 5,811 NS | May 29, 2026 | N-PORT |
| EXI · iShares Trust | 0.15% | 28,697 SH | Aug. 8, 2026 | Daily |