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Building products & equipment · Industrials · Fiscal year ends Sep 30
Griffon reported revenue of $2.5B in the fiscal year ended Sep 2025, down 3.9% from the year before. Operating income was $206M, an operating margin of 8.2%, and net income was $51M. Operating cash flow of $357M less capital expenditure of $52M left free cash flow of $305M. Net debt was $1.3B.
Ranks among the 14 building products & equipment companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 2,271 | 2,848 | 2,685 | 2,624 | 2,520 |
| Cost of revenue | 1,630 | 1,912 | 1,736 | 1,604 | 1,462 |
| Gross profit | 641 | 937 | 949 | 1,020 | 1,058 |
| Selling, general & admin | 471 | 609 | 643 | 622 | 608 |
| Operating income | 171 | −189 | 197 | 398 | 206 |
| Net interest incomeBanks | −62.7 | – | – | – | – |
| Interest expense | 63.2 | 84.4 | 101 | 104 | 96.0 |
| Pre-tax income | 110 | −271 | 113 | 297 | 127 |
| Income tax | 39.7 | 16.8 | 35.1 | 86.8 | 76.3 |
| Net income | 79.2 | −192 | 77.6 | 210 | 51.1 |
| Diluted EPS | 1.48 | −3.71 | 1.42 | 4.23 | 1.09 |
| Diluted shares | 53.4 | 51.7 | 54.6 | 49.7 | 46.7 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 249 | 120 | 103 | 114 | 99.0 |
| Receivables | 295 | 362 | 312 | 313 | 197 |
| Inventory | 473 | 669 | 507 | 425 | 172 |
| Current assets | 1,369 | 1,215 | 981 | 929 | 1,246 |
| Net PP&E | 290 | 295 | 279 | 288 | 196 |
| Goodwill | 426 | 336 | 328 | 329 | 191 |
| Total assets | 2,605 | 2,816 | 2,419 | 2,371 | 2,076 |
| Payables | 260 | 195 | 117 | 119 | 57.7 |
| Current liabilities | 532 | 424 | 359 | 349 | 446 |
| Short-term debt | 12.5 | 12.7 | 9.6 | 8.2 | 8.0 |
| Long-term debt | 1,033 | 1,561 | 1,460 | 1,516 | 1,404 |
| Total liabilities | 1,798 | 2,339 | 2,104 | 2,146 | 2,002 |
| Shareholders' equity | 807 | 478 | 315 | 225 | 74.0 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 69.8 | 59.2 | 432 | 380 | 357 |
| Capital expenditure | 37.0 | 42.5 | 63.6 | 68.4 | 52.4 |
| Free cash flow | 32.9 | 16.8 | 368 | 312 | 305 |
| Depreciation & amortisation | 52.3 | 64.7 | 43.1 | 37.9 | 39.7 |
| Stock-based compensation | 20.1 | 33.1 | 41.1 | 26.8 | 25.5 |
| Acquisitions | 2.2 | 851 | 0.0 | 14.6 | 0.0 |
| Share buybacks | 3.4 | 10.9 | 164 | 310 | 183 |
| Dividends paid | 17.1 | 127 | 134 | 35.8 | 39.7 |
| Dividend per share | 0.32 | 0.36 | 0.45 | – | – |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 25.4% | −5.7% | −2.3% | −3.9% |
| Operating income growth (YoY) | – | −210.8% | – | 102.3% | −48.2% |
| EPS growth (YoY) | – | −350.7% | – | 197.9% | −74.2% |
| Gross margin | 28.2% | 32.9% | 35.3% | 38.9% | 42.0% |
| Operating margin | 7.5% | −6.6% | 7.3% | 15.2% | 8.2% |
| Net margin | 3.5% | −6.7% | 2.9% | 8.0% | 2.0% |
| Return on equityBlank when equity is negative | 9.8% | −40.1% | 24.6% | 93.3% | 69.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.2% | −7.9% | 9.6% | 19.7% | 12.7% |
| Free cash flow margin | 1.4% | 0.6% | 13.7% | 11.9% | 12.1% |
| Cash conversion (CFO ÷ net income) | 0.88x | −0.31x | 5.56x | 1.81x | 6.99x |
| Receivable days | 47 | 46 | 42 | 44 | 29 |
| Inventory days | 106 | 128 | 107 | 97 | 43 |
| Payable days | 58 | 37 | 25 | 27 | 14 |
| Interest cover | 2.70x | −2.24x | 1.94x | 3.83x | 2.15x |
| Debt ÷ equity | 1.30x | 3.30x | 4.66x | 6.78x | 19.1x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 797 | 1,453 | 1,367 | 1,410 | 1,313 |
| Current ratio | 2.57x | 2.87x | 2.73x | 2.66x | 2.79x |
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.