Investor Day Takeaways

研报英文原文证据摘录

Investor Day Takeaways

Housing | Building Products

May 13, 2026

Masco Corp Stephen Kim Aatish Shah, CFA (212) 497-0866 212-497-0899

MAS | $70.59 stephen.kim@evercoreisi.com Aatish.Shah@evercoreisi.com

Outperform | Target Price/Base Case: $86.00 Randa Shaw

Company Update (646) 708-8489

randa.shaw@evercoreisi.com

Company Statistics Masco hosted its 2026 Investor Day where CEO Jon Nudi, CFO

52-Week Range $56.55 - $79.19 Rick Westenberg, and key business leaders presented the go-

Market Capitalization (M) $13,547 forward strategy as well as FY28 financial company

Enterprise Value (M) $16,105 targets. Overall, we are encouraged by the company’s approach to

Dividend Yield 2.4%

Net Debt / EBITDA 1.76 simplifying the business and capitalizing on its scale to drive future

Price/Earnings 13.2 growth. The organic sales growth algorithm appears conservative, with

EV / EBITDA 11.1 the profitability path looking achievable and the capital allocation

Fiscal Year End Dec strategy remaining balanced through FY28.

◼ Overall strategy. The company is looking to drive above-market

1 Year Price History growth by leveraging its strong brand portfolio across paint,

plumbing and wellness. The focus is also on enhancing

commercial capabilities through digital marketing, e-commerce,

and the integration of AI to help with the customer experience.

Operational improvement was a central component of each of the

presentations, with the business units now leveraging centers of

excellence to enable faster execution with better results.

◼ FY28 targets introduced. The company introduced FY28 targets

that include 1) Net sales of $8.1-8.4bn through ~3-4% average

annual growth, 2) adjusted EBIT margin of 18%+, 3) average

Source: FactSet annual EPS growth of ~10%, and 4) aggregate capital deployment