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Lumber & wood production · Basic Materials · Fiscal year ends Dec 27
Fortune Brands Innovations reported revenue of $4.5B in the fiscal year ended Dec 2025, down 3.2% from the year before. Operating income was $516M, an operating margin of 11.6%, and net income was $299M. Operating cash flow of $479M less capital expenditure of $112M left free cash flow of $367M. Net debt was $2.3B.
Ranks among the 5 lumber & wood production companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 4,801 | 4,723 | 4,626 | 4,609 | 4,463 |
| Cost of revenue | 2,841 | 2,790 | 2,715 | 2,543 | 2,474 |
| Gross profit | 1,961 | 1,933 | 1,911 | 2,066 | 1,989 |
| Selling, general & admin | 1,094 | 1,078 | 1,168 | 1,239 | 1,292 |
| Operating income | 811 | 774 | 615 | 738 | 516 |
| Net interest incomeBanks | −2.1 | −5.8 | −14.2 | −5.1 | −6.5 |
| Interest expense | 84.3 | 119 | 117 | 121 | 115 |
| Pre-tax income | 726 | 667 | 518 | 606 | 405 |
| Income tax | 167 | 127 | 112 | 134 | 106 |
| Net income | 772 | 687 | 405 | 472 | 299 |
| Diluted EPS | 5.54 | 5.23 | 3.17 | 3.75 | 2.47 |
| Diluted shares | 140 | 131 | 128 | 126 | 121 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 426 | 643 | 366 | 381 | 264 |
| Receivables | 580 | 522 | 534 | 514 | 513 |
| Inventory | 890 | 1,021 | 982 | 960 | 1,025 |
| Current assets | 2,745 | 2,460 | 2,046 | 2,007 | 1,974 |
| Net PP&E | 671 | 784 | 975 | 999 | 806 |
| Goodwill | 1,539 | 1,641 | 1,907 | 1,992 | 2,006 |
| Total assets | 5,447 | 6,121 | 6,565 | 6,562 | 6,521 |
| Payables | 561 | 422 | 568 | 514 | 525 |
| Deferred revenue | 22.2 | 32.1 | 40.2 | 36.3 | 34.8 |
| Current liabilities | 1,971 | 1,545 | 1,200 | 1,602 | 1,072 |
| Short-term debt | 400 | 599 | 0.0 | 500 | 0.0 |
| Long-term debt | 2,310 | 2,074 | 2,670 | 2,174 | 2,545 |
| Total liabilities | 4,871 | 4,034 | 4,272 | 4,140 | 4,132 |
| Shareholders' equity | 3,065 | 2,087 | 2,293 | 2,422 | 2,389 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 689 | 566 | 1,056 | 668 | 479 |
| Capital expenditure | 214 | 246 | 257 | 193 | 112 |
| Free cash flow | 475 | 320 | 799 | 475 | 367 |
| Depreciation & amortisation | 125 | 127 | 107 | 121 | 119 |
| Stock-based compensation | 50.2 | 50.2 | 34.2 | 39.3 | 20.8 |
| Acquisitions | −5.2 | 218 | 784 | 135 | 0.0 |
| Share buybacks | 448 | 580 | 150 | 240 | 248 |
| Dividends paid | 143 | 146 | 117 | 120 | 121 |
| Dividend per share | 1.06 | 1.07 | 0.93 | 0.97 | 1.01 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −1.6% | −2.0% | −0.4% | −3.2% |
| Operating income growth (YoY) | – | −4.5% | −20.6% | 20.0% | −30.1% |
| EPS growth (YoY) | – | −5.6% | −39.4% | 18.3% | −34.1% |
| Gross margin | 40.8% | 40.9% | 41.3% | 44.8% | 44.6% |
| Operating margin | 16.9% | 16.4% | 13.3% | 16.0% | 11.6% |
| Net margin | 16.1% | 14.5% | 8.7% | 10.2% | 6.7% |
| Return on equityBlank when equity is negative | 25.2% | 32.9% | 17.6% | 19.5% | 12.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 23.3% | 16.9% | 11.5% | 14.9% | 9.5% |
| Free cash flow margin | 9.9% | 6.8% | 17.3% | 10.3% | 8.2% |
| Cash conversion (CFO ÷ net income) | 0.89x | 0.82x | 2.61x | 1.42x | 1.60x |
| Receivable days | 44 | 40 | 42 | 41 | 42 |
| Inventory days | 114 | 134 | 132 | 138 | 151 |
| Payable days | 72 | 55 | 76 | 74 | 77 |
| Interest cover | 9.62x | 6.50x | 5.28x | 6.12x | 4.48x |
| Debt ÷ equity | 0.88x | 1.28x | 1.16x | 1.10x | 1.07x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,284 | 2,031 | 2,304 | 2,292 | 2,281 |
| Current ratio | 1.39x | 1.59x | 1.70x | 1.25x | 1.84x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.