GRIFFON CORP

Listed Company

GFFCIK 0000050725NYSELarge AcceleratedMetal Doors, Sash, Frames, Moldings & TrimDelawareFY ends Sep 30

Period

FY 2025

Revenue

$2.52B

Net Income

$51.11M

Total Assets

$2.06B

Equity

$73.97M

Shares Out

46.58M

Op. Cash Flow

$357.44M

Business

GRIFFON CORP is a diversified management and holding company that conducts business through wholly‑owned subsidiaries, overseeing their operations and capital allocation. Its subsidiaries design, manufacture and market branded home and building products—primarily residential and commercial garage and rolling steel doors—and consumer and professional products including tools, fans, home storage, outdoor décor and watering products. Operations are organized into two reportable segments: Home and Building Products (Clopay) and Consumer and Professional Products (AMES, Hunter, ClosetMaid and related brands). Products sell primarily in North America and internationally through retail chains, professional dealers, distributors and e‑commerce channels in Canada, Australia, the U.K., Ireland and other markets.

Summary from filing dated 2025-11-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Revenue	2,520	2,624	2,685	2,848	2,271
Cost of goods and services	1,462	1,604	1,736	1,912	1,630
Gross profit	1,058	1,020	949	937	641
Selling, general and administrative expenses	608	622	643	609	471
Goodwill and intangible asset impairments	244	0	109	517	0
Total operating expenses	852	622	752	1,126	471
Income from operations	206	398	197	−189	171
Interest expense	−96	−104	−101	−84	—
Interest income	2	2	2	215,000	440,000
Gain (loss) on sale of real estate	8	−61,000	13	0	0
Debt extinguishment, net	0	−2	−437,000	−5	0
Other, net	7	2	3	7	2
Total other income (expense)	−79	−102	−84	−82	−61
Income before taxes	127	297	113	−271	110
Provision for income taxes	76	87	35	17	40
Net income	51	210	78	−192	79
Basic earnings per common share (in usd per share)	1.13	4.41	1.49	−3.71	1.56
Weighted-average shares outstanding - basic (in shares)	45	48	52	52	51
Diluted earnings per common share (in usd per share)	1.09	4.23	1.42	−3.71	1.48
Weighted-average shares outstanding - diluted (in shares)	47	50	55	52	53
Foreign currency translation adjustments	−7	10	8	−38	6
Pension and other post retirement plans	−8	2	7	2	18
Gain (loss) on cash flow hedge	1	311,000	−2	−344,000	2
Total other comprehensive income (loss), net of taxes	−14	12	13	−37	26
Comprehensive income	37	222	90	−228	105

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and equivalents	99	114	103	120	249
Accounts receivable, net of allowances of $10,086 and $10,986	291	313	312	362	295
Inventories	441	425	507	669	473
Prepaid and other current assets	53	62	57	62	76
Assets held for sale	6	15	0	—	—
Assets of discontinued operations	1	648,000	1	1	—
Total Current Assets	891	929	981	1,215	1,369
PROPERTY, PLANT AND EQUIPMENT, net	294	288	279	295	290
OPERATING LEASE RIGHT-OF-USE ASSETS	168	171	170	183	145
GOODWILL	193	329	328	336	426
INTANGIBLE ASSETS, net	488	619	635	762	350
OTHER ASSETS	26	30	22	22	22
ASSETS OF DISCONTINUED OPERATIONS	5	3	4	5	—
Total Assets	2,064	2,371	2,419	2,816	2,605
Notes payable and current portion of long-term debt	8	8	10	13	12
Accounts payable	137	119	117	195	260
Accrued liabilities	153	182	193	172	145
Current portion of operating lease liabilities	32	35	33	32	30
Liabilities of discontinued operations	4	4	7	13	—
Total Current Liabilities	335	349	359	424	532
LONG-TERM DEBT, net	1,404	1,516	1,460	1,561	1,033
LONG-TERM OPERATING LEASE LIABILITIES	147	147	147	159	119
OTHER LIABILITIES	99	131	133	191	110
LIABILITIES OF DISCONTINUED OPERATIONS	5	3	5	4	—
Total Liabilities	1,990	2,146	2,104	2,339	1,798
COMMITMENTS AND CONTINGENCIES - See Note 16	—	—	—	—	—
Preferred stock, par value $0.25 per share, authorized 3,000 shares, no shares issued	0	0	0	0	0
Common stock, par value $0.25 per share, authorized 85,000 shares, issued shares of 84,746 in both 2025 and 2024	21	21	21	21	21
Capital in excess of par value	690	677	663	628	602
Retained earnings	479	461	282	344	670
Treasury shares, at cost, 38,400 common shares and 36,443 common shares as of September 30, 2025 and 2024, respectively	−1,044	−877	−578	−420	—
Accumulated other comprehensive loss	−72	−58	−70	−83	−46
Deferred compensation	0	−218,000	−2	−13	−23
Total Shareholders Equity	74	225	315	478	807
Total Liabilities and Shareholders Equity	2,064	2,371	2,419	2,816	2,605

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	63	61	65	65	52
Fair value write-up of acquired inventory sold	0	491,000	0	5	0
Stock-based compensation	25	27	41	33	20
Asset impairment charges - restructuring	0	24	59	5	7
Provision for losses on accounts receivable	566,000	636,000	971,000	1	501,000
Amortization of deferred financing costs and debt discounts	4	4	4	4	3
Deferred income tax provision (benefit)	−28	4	−38	−57	14
Gain on sale of real estate	−8	−61,000	−13	−469,000	231,000
Decrease in accounts receivable	19	4	51	−21	—
(Increase) decrease in inventories	−18	74	129	−107	−155
(Increase) decrease in prepaid and other assets	−14	−925,000	621,000	−20	−10
Increase (decrease) in accounts payable, accrued liabilities, income taxes payable and operating lease liabilities	18	−31	−68	−96	73
Other changes, net	2	2	11	13	2
Net cash provided by operating activities	357	380	432	59	70
Acquisition of property, plant and equipment	−52	−68	−64	−42	−37
Acquired business, net of cash acquired	0	−15	0	−851	−2
Proceeds (payments) from sale of business, net	0	4	−3	296	0
Proceeds from sale of property, plant and equipment	18	14	21	90,000	237,000
Net cash used in investing activities	−34	−65	−45	−583	−56
Dividends paid	−40	−36	−134	−127	−17
Purchase of shares for treasury	−183	−310	−164	−11	−3
Proceeds from long-term debt	63	217	123	1,059	21
Payments of long-term debt	−179	−169	−222	−511	−28
Financing costs	0	−907,000	−3	−17	−571,000
Other, net	−130,000	−341,000	−130,000	258,000	−257,000
Net cash used in financing activities	−339	−299	−400	393	−28
Net cash used in operating activities	−1	−3	−3	10	42
Net cash provided by investing activities	137,000	0	0	−3	7
Net cash used in discontinued operations	−1	−3	−3	8	49
Effect of exchange rate changes on cash and equivalents	2	−2	−693,000	−5	−4
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	−15	12	−17	−128	31
Cash Interest	93	101	100	78	61
Cash paid for taxes	96	103	71	80	41
Capital expenditures in accounts payable	1	5	4	—	—

Filings

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