MasterBrand, Inc.
MasterBrand, Inc. makes residential cabinets for kitchens and baths and sells them across North America. The company serves remodeling and new-construction demand through a large network of dealers, retailers, and builders, with a meaningful presence in premium cabinetry after acquiring Supreme in 2024.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2021–2025
Liiketoiminta
Osuus liikevaihdostaCore kitchen and bath cabinetry sold for remodeling and new construction.
Higher-end cabinet lines and brands aimed at premium remodel and custom projects.
Cabinet sales routed through independent dealers across the U.S. and Canada.
Products sold through major home-improvement retailers and their online channels.
Cabinets supplied directly or through distributors to single-family home builders.
Emerging online cabinet sales and digital customer engagement capabilities.
Tuotteet
Raportoitu · osuus liikevaihdosta- Dealers54,9 %
- Retail32,1 %
- Builders13,0 %
Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
MasterBrand sells to dealers, retailers, and builders, but the end demand comes from homeowners, remodelers, and single-family home construction. Lowe’s and Home Depot are especially important retail customers, while thousands of cabinet dealers provide broad market reach and local specification support. The company also serves regional and large-scale builders that need repeatable product supply, service, and customization.
Large chains such as Lowe's and Home Depot buy cabinet assortments for in-store and online resale.
Independent dealers buy a broad range of cabinet lines for remodeling and local builder projects.
Regional and large-scale builders buy cabinets for single-family construction, often on repeat programs.
Customers buying Supreme, Dura Supreme and Bertch products want higher design and finish quality.
Online shoppers and digital channel partners buy cabinets through emerging web-based channels.
Strategia
MasterBrand is focused on using scale, a broad dealer network, and standardized product platforms to defend its cost position and service levels. Management is also pushing digital tools, data analytics, and e-commerce to improve the customer experience and capture more demand online. A major strategic step is the pending combination with American Woodmark, alongside prior acquisitions like Supreme to broaden premium offerings and expand reach.
Acquisitions add premium lines, customer reach, and potential synergies.
Digital tools can improve speed to market, service, and conversion.
Standardized platforms and components support margin resilience and service.
Maantiede
Q1/2026The business is concentrated in the United States and Canada, which together make up the core of sales and the dealer network. International sales are small at about 4% of net sales, so the company is primarily exposed to North American housing, remodeling, and retail demand. Manufacturing is also North America-focused, with Supreme's facilities in Minnesota, Iowa, and North Carolina adding domestic capacity for premium cabinetry.
Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.
Riskit
The company is exposed to customer concentration, especially Lowe's and Home Depot, so any loss of shelf space or reduced orders could materially affect sales. It also depends on a global supply chain for components and raw materials, making it vulnerable to shortages, tariffs, logistics issues, and supplier disruptions. Housing-cycle weakness, integration risk from acquisitions, and execution risk around the pending American Woodmark transaction are additional business risks.
- Supply-chain and sourcing disruptionVaikutus: KorkeaTodennäköisyys: Korkea
The company relies on many global suppliers for components and raw materials.
Kohdistuu - Customer concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen
A small number of retailers account for a large share of net sales.
Kohdistuu: Lowe's and Home Depot together were about 33% of fiscal 2025 net sales.
- Transaction and integration riskVaikutus: KorkeaTodennäköisyys: Kohtalainen
The pending American Woodmark combination could distract management and delay benefits.
Kohdistuu - Tariff and trade policy exposureVaikutus: KeskitasoTodennäköisyys: Korkea
Imported inputs and foreign suppliers can become more expensive or less available.
Kohdistuu: Management specifically cites tariffs as a risk to operations and margins.
Kirjanpito
Harkinnanvaraiset erätManagement uses discounted cash flow and market multiples to assess recoverability.
Vaikutus: A weaker outlook or higher discount rate could trigger impairment charges.
Fair value depends on forecast growth, royalty rates, and discount rates.
Vaikutus: Brand impairment could reduce earnings if assumptions deteriorate.
The acquisition changes the cost base and consolidates additional operations.
Vaikutus: Affects comparability of gross margin and operating costs year over year.
Effective tax rate is influenced by foreign income, credits, and valuation allowances.
Vaikutus: Can create volatility in reported net income.
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
American Woodmark Corp
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American Woodmark Corporation manufactures and distributes kitchen, bath, and home organization cabinetry products used in both repair-and-remodel projects and new home construction.
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Päivitetty: 24.9.2026