BRADY CORP Segments Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| Americas & Asia | |||||||||||||||||
| Net sales | $ | 993,715 | $ | 886,528 | $ | 888,857 | |||||||||||
| Cost of goods sold | 490,670 | 430,265 | 449,784 | ||||||||||||||
| Gross margin | 503,045 | 456,263 | 439,073 | ||||||||||||||
| Segment expenses: | |||||||||||||||||
| Research and development | 55,862 | 48,715 | 45,172 | ||||||||||||||
| Selling, general and administrative | 237,417 | 210,706 | 213,398 | ||||||||||||||
| Total segment expenses | 293,279 | 259,421 | 258,570 | ||||||||||||||
| Segment profit | $ | 209,766 | $ | 196,842 | $ | 180,503 | |||||||||||
| Europe & Australia | |||||||||||||||||
| Net sales | $ | 519,890 | $ | 454,865 | $ | 443,006 | |||||||||||
| Cost of goods sold | 262,113 | 223,244 | 224,804 | ||||||||||||||
| Gross margin | 257,777 | 231,621 | 218,202 | ||||||||||||||
| Segment expenses: | |||||||||||||||||
| Research and development | 24,027 | 19,033 | 16,193 | ||||||||||||||
| Selling, general and administrative | 176,809 | 141,976 | 136,267 | ||||||||||||||
| Total segment expenses | 200,836 | 161,009 | 152,460 | ||||||||||||||
| Segment profit | $ | 56,941 | $ | 70,612 | $ | 65,742 | |||||||||||
| Total profit from reportable segments | $ | 266,707 | $ | 267,454 | $ | 246,245 | |||||||||||
| Reconciliation to income before income taxes | |||||||||||||||||
| Total profit from reportable segments | $ | 266,707 | $ | 267,454 | $ | 246,245 | |||||||||||
| Unallocated costs: | |||||||||||||||||
| Administrative costs | (30,069) | (24,040) | (24,802) | ||||||||||||||
| Gain on sale of business | — | — | 3,770 | ||||||||||||||
| Investment and other income | 5,206 | 7,553 | 4,022 | ||||||||||||||
| Interest expense | (4,747) | (3,126) | (3,539) | ||||||||||||||
| Income before income taxes | $ | 237,097 | $ | 247,841 | $ | 225,696 | |||||||||||
| Other Segment Information | |||||||||||||||||
| Depreciation & amortization: | |||||||||||||||||
| Americas & Asia | $ | 26,373 | $ | 22,716 | $ | 25,269 | |||||||||||
| Europe & Australia | 14,266 | 7,157 | 7,101 | ||||||||||||||
| Total Company | $ | 40,639 | $ | 29,873 | $ | 32,370 | |||||||||||
| Assets: | |||||||||||||||||
| Americas & Asia | $ | 982,000 | $ | 849,844 | $ | 829,562 | |||||||||||
| Europe & Australia | 577,904 | 415,607 | 408,163 | ||||||||||||||
| Corporate | 174,349 | 250,118 | 151,532 | ||||||||||||||
| Total Company | $ | 1,734,253 | $ | 1,515,569 | $ | 1,389,257 | |||||||||||
| Expenditures for property, plant & equipment: | |||||||||||||||||
| Americas & Asia | $ | 18,595 | $ | 54,460 | $ | 13,256 | |||||||||||
| Europe & Australia | 8,982 | 25,432 | 5,970 | ||||||||||||||
| Total Company | $ | 27,577 | $ | 79,892 | $ | 19,226 | |||||||||||
| Revenues* Years Ended July 31, | Long-Lived Assets** As of July 31, | |||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||
| Geographic information: | ||||||||||||||||||||||||||||||||||||||
| United States | $ | 847,336 | $ | 783,775 | $ | 790,596 | $ | 591,586 | $ | 515,193 | $ | 524,258 | ||||||||||||||||||||||||||
| Other | 747,289 | 631,748 | 610,553 | 474,727 | 360,519 | 302,321 | ||||||||||||||||||||||||||||||||
| Eliminations | (81,020) | (74,130) | (69,286) | — | — | — | ||||||||||||||||||||||||||||||||
| Consolidated total | $ | 1,513,605 | $ | 1,341,393 | $ | 1,331,863 | $ | 1,066,313 | $ | 875,712 | $ | 826,579 | ||||||||||||||||||||||||||
| * Revenues are attributed based on country of origin. | ||||||||||||||||||||||||||||||||||||||
| ** Long-lived assets consist of property, plant and equipment, goodwill, other intangible assets, and operating lease assets. | ||||||||||||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 4, 2025 | Showing above |
| 2024 | Sep 6, 2024 | |
| 2023 | Sep 5, 2023 | |
| 2022 | Sep 1, 2022 | |
| 2021 | Sep 2, 2021 | |
| 2020 | Sep 16, 2020 | |
| 2019 | Sep 6, 2019 | |
| 2018 | Sep 13, 2018 | |
| 2017 | Sep 13, 2017 | |
| 2016 | Sep 15, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.