# Griffon Corporation (GFF)

> Source: Nexqual · https://nexqual.com/GFF · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Griffon Corporation (GFF), nexqual.com/GFF" · informational, not investment advice.

**Price:** USD 99.87 (-0.39% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 100.26 · day 99.35–101.68 · 52w 65.01–108.57 · market cap $4.58B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.75B, net income $179M (6.5% margin), free cash flow $297M (SEC filings).
- Valuation: P/E 25.6x (avg 38.0x at the last 3 fiscal year-ends), EV/EBITDA 11.6x, net debt $1.16B.
- 1 of 80 tracked superinvestors hold GFF (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 16 Form 4 filings, $32.8M; 3 not under a Rule 10b5-1 plan ($10.2M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.86 on a 1–5 scale) (7 analysts), mean target USD 126.86 (range 120–135).
- Total return with dividends: 1Y +35.0% vs S&P 500 +13.6%; 5Y +357.1% vs S&P 500 +79.8%.
- Next earnings: 2026-11-18, EPS estimate USD 1.59, revenue estimate $482M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.27B | $2.85B | $2.69B | $2.62B | $2.52B | $2.75B |
| Gross profit | $641M | $937M | $949M | $1.02B | $1.06B | — |
| Operating income | $171M | -$189M | $197M | $398M | $206M | $459M |
| Net income | $79.2M | -$192M | $77.6M | $210M | $51.1M | $179M |
| EPS (diluted) | $1.48 | -$3.71 | $1.42 | $4.23 | $1.09 | — |
| Free cash flow | $32.9M | $16.8M | $368M | $312M | $305M | $297M |
| Gross margin | 28.2% | 32.9% | 35.3% | 38.9% | 42.0% | — |
| Operating margin | 7.5% | -6.6% | 7.3% | 15.2% | 8.2% | 16.7% |
| Net margin | 3.5% | -6.7% | 2.9% | 8.0% | 2.0% | 6.5% |
| Revenue growth | +9.9% | +25.4% | -5.7% | -2.3% | -3.9% | — |
| Cash + short-term investments | $249M | $120M | $103M | $114M | $99.0M | — |
| Total debt | $1.05B | $1.57B | $1.47B | $1.52B | $1.41B | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 25.6x · P/S 1.7x · EV/EBITDA 11.6x · EV/Sales 2.1x · P/FCF 15.4x · P/B 35.5x · FCF yield 6.49% · Earnings yield 3.91% · Dividend yield (paid, TTM) 0.85% · Buyback yield (TTM) 3.07% · Net debt $1.16B · EV $5.74B
P/E at fiscal year-ends: Sep 2025 69.6x, Sep 2024 16.6x, Sep 2023 27.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold GFF. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $16.6M | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
13 of 16 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-13 | Turnbull Cheryl L | Director | 3,000 | $318K | 9.1% | No | Too little history (no open-market trades in 2023) |
| 2026-08-13 | Sullivan Kevin F | Director | 3,500 | $370K | 7.9% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-11 | Mehmel Robert F | President and COO | 3,240 | $347K | 0.4% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-07…2026-08-10 | Mehmel Robert F | President and COO | 22,567 | $2.4M | 3% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-07 | Harris Brian G | EVP, Chief Financial Officer | 5,267 | $564K | 3.8% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-05…2026-08-06 | Mehmel Robert F | President and COO | 37,061 | $3.8M | 4.7% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-05 | Harris Brian G | EVP, Chief Financial Officer | 11,050 | $1.1M | 7.4% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-05 | Kramer Ronald J | Chairman of the Board and CEO | 100,000 | $10.2M | 5.5% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-30 | Mehmel Robert F | President and COO | 4,166 | $407K | 0.5% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-30 | Harris Brian G | EVP, Chief Financial Officer | 6,183 | $606K | 4% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-26 | Mehmel Robert F | President and COO | 286 | $27K | 0% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-24…2026-06-25 | Mehmel Robert F | President and COO | 12,599 | $1.2M | 1.6% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-16…2026-06-17 | Mehmel Robert F | President and COO | 3,565 | $340K | 0.4% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-12…2026-06-15 | Mehmel Robert F | President and COO | 8,773 | $836K | 1.1% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-12 | Kramer Ronald J | Chairman of the Board and CEO | 100,000 | $9.5M | 5.2% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-11 | Harris Brian G | EVP, Chief Financial Officer | 7,500 | $713K | 4.6% | Yes | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.86 on a 1–5 scale), 7 analysts; mean target USD 126.86 (low 120, high 135).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-06 | Stephens & Co. | Target raised | Overweight | $115 → $120 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +35.0% | +357.1% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +35.1% | +35.5% |
| Volatility (annualized) | 35.8% | 41.2% |
| Max drawdown | -27.9% (Feb 2026→Mar 2026) | -37.3% (Dec 2021→Apr 2022) |

## Peers (Building Products & Equipment)
LPX (Louisiana-Pacific Corporation) USD 70.06 -2.76% · FBIN (Fortune Brands Innovations, Inc) USD 42.13 -2.23% · TREX (Trex Company, Inc.) USD 49.54 -0.62% · BLDR (Builders FirstSource, Inc.) USD 55.88 -1.45% · AAON (AAON, Inc.) USD 75.61 -0.29% · AWI (Armstrong World Industries Inc) USD 156.66 +0.84%

## More
Full page: https://nexqual.com/GFF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GFF's own 10-K filed 2025-11-19 (https://www.sec.gov/Archives/edgar/data/50725/000162828025053242/gff-20250930.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Home Depot (HD) | "Clopay's customers include over 3,000 independent professional installing dealers and major home center retail chains including Home Depot and Menards." |
| Customer | Lowe's (LOW) | "CPP sells products throughout North America, Australia, New Zealand, the U.K. and Ireland through (1) home centers, such as The Home Depot, Inc. ("Home Depot"), Lowe's Companies Inc. ("Lowe's"), Rona Inc., Bunnings Wareh…" |
| Customer | Clopay | "The Clopay sales and marketing organization supports our customers, consults on new product development, and aggressively markets door solutions, with a primary focus on the North American market." |
| Customer | Target (TGT) | "CPP sells products throughout North America, Australia, New Zealand, the U.K. and Ireland through (1) home centers, such as The Home Depot, Inc. ("Home Depot"), Lowe's Companies Inc. ("Lowe's"), Rona Inc., Bunnings Wareh…" |

## Company outlook (8-K filed 2026-08-05)

- "Griffon expects fiscal 2026 revenue from continuing operations to be $1.8 billion and adjusted EBITDA to be $458 million."
- "Free cash flow from continuing operations, including capital expenditures of $50 million, is expected to exceed net income from continuing operations, with depreciation of $27 million and amortization of $15 million."
- "Fiscal year 2026 interest expense is now expected to be $80 million, reflecting reduced debt and interest income from transaction related notes receivable."
- "Griffon's normalized tax rate is expected to be 28%."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.59 | $1.55 | +2.2% | $481.8M | 7 |
| Next quarter (ends 2026-12-31) | $1.44 | $1.38 | +4.2% | $470.7M | 7 |
| Current fiscal year (ends 2026-09-30) | $5.40 | $5.20 | +3.8% | $1.84B | 7 |
| Next fiscal year (ends 2027-09-30) | $6.10 | $5.75 | +6.0% | $1.90B | 7 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $1.51 | $1.34 | Beat +12.7% | — |
| — | Quarter ended Mar 31, 2026 | $1.05 | $0.99 | Beat +6.1% | — |
| — | Quarter ended Dec 31, 2025 | $1.45 | $1.35 | Beat +7.4% | — |
| — | Quarter ended Sep 30, 2025 | $1.54 | $1.52 | Beat +1.3% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-19 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation; Other material event — “Notes Offering On August 18, 2026, Griffon Corporation (the "Company") completed its previously announced notes offering (the "Notes Offering") of $800 million aggregate principal amount of 6.25% senior notes due 2034 (the "Notes"). The Notes were sold in a private placement pursuant to a purchase agreement, dated August 10, 2026, among the Company, the guarantors named therein (the "Guarantors") and BofA Securities, Inc., as representative of the several initial purchasers of the Notes (the "Initial Purchasers").…” | https://www.sec.gov/Archives/edgar/data/50725/000093041326002595/0000930413-26-002595-index.htm |
| 2026-08-11 | 8-K | Entered a material agreement; Other material event — “On August 10, 2026, Griffon Corporation (the "Company") entered into a Purchase Agreement (the "Purchase Agreement") pursuant to which the Company agreed to issue and sell to the several initial purchasers named therein (the "Initial Purchasers") $800 million aggregate principal amount of the Company's 6.25% senior notes due 2034 (the "Notes"). The Purchase Agreement includes the terms and conditions of the offer and sale of the Notes, indemnification and contribution obligations and other terms and conditions…” | https://www.sec.gov/Archives/edgar/data/50725/000162828026055694/0001628280-26-055694-index.htm |
| 2026-08-10 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/50725/000162828026055203/0001628280-26-055203-index.htm |
| 2026-08-07 | 8-K | Other material event — “Griffon Corporation ("Griffon" or "the Company") is filing this Current Report on Form 8-K (this "Form 8-K"), including Exhibit 99.1, solely to recast certain financial information and related disclosures included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 originally filed with the U.S. Securities and Exchange Commission (the "SEC") on November 19, 2025 (the "2025 Form 10-K") to provide retrospective discontinued operations presentation for the years ended September…” | https://www.sec.gov/Archives/edgar/data/50725/000162828026054906/0001628280-26-054906-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/50725/000162828026053536/0001628280-26-053536-index.htm |
| 2026-08-05 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/50725/000162828026052927/0001628280-26-052927-index.htm |
| 2026-08-04 | 8-K | Entered a material agreement; Completed an acquisition or sale of assets; Regulation FD disclosure; Other material event — “As previously disclosed in our Current Report on Form 8-K filed on June 11, 2026, on June 8, 2026, Griffon AMES HoldCo LLC (" Griffon HoldCo "), a Delaware limited liability company and indirect wholly owned subsidiary of Griffon Corporation (" Griffon "), entered into the Share Sale Agreement (" SSA ") with HupCo ParentCo Pty Ltd, an Australian proprietary limited company (" Buyer "), to sell Griffon's AMES Australasia business to a joint venture it is forming with an investment group led by the management of…” | https://www.sec.gov/Archives/edgar/data/50725/000162828026052181/0001628280-26-052181-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.