# MasterBrand, Inc. (MBC)

> Source: Nexqual · https://nexqual.com/MBC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, MasterBrand, Inc. (MBC), nexqual.com/MBC" · informational, not investment advice.

**Price:** USD 7.35 (+8.73% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 6.76 · day 6.73–7.4 · 52w 6.17–13.96 · market cap $1.50B · NYQ

## Key facts
- Last four reported quarters (through Jun 28, 2026): revenue $2.78B, net income -$96.9M (-3.5% margin), free cash flow $74.4M (SEC filings).
- 1 of 80 tracked superinvestors hold MBC (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $854K; 4 not under a Rule 10b5-1 plan ($854K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $696K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (2 analysts), mean target USD 9.63 (range 8–10.9).
- Total return with dividends: 1Y -43.4% vs S&P 500 +14.9%; 5Y -26.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.03, revenue estimate $1.06B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.86B | $3.28B | $2.73B | $2.70B | $2.73B | $2.78B |
| Gross profit | $784M | $941M | $901M | $877M | $828M | — |
| Operating income | $234M | $203M | $306M | $236M | $119M | -$31.7M |
| Net income | $183M | $155M | $182M | $126M | $26.7M | -$96.9M |
| EPS (diluted) | $1.43 | $1.20 | $1.40 | $0.96 | $0.21 | — |
| Free cash flow | $96.6M | $180M | $348M | $211M | $118M | $74.4M |
| Gross margin | 27.5% | 28.7% | 33.1% | 32.5% | 30.3% | — |
| Operating margin | 8.2% | 6.2% | 11.2% | 8.7% | 4.4% | -1.1% |
| Net margin | 6.4% | 4.7% | 6.7% | 4.7% | 1.0% | -3.5% |
| Revenue growth | — | +14.7% | -16.8% | -0.9% | +1.3% | — |
| Cash + short-term investments | $141M | $101M | $149M | $121M | $183M | — |
| Total debt | — | $979M | $713M | $1.02B | $985M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 28, 2026)
P/S 0.5x · EV/EBITDA 57.1x · EV/Sales 0.9x · P/FCF 20.1x · P/B 0.8x · FCF yield 4.97% · Earnings yield -6.48% · Buyback yield (TTM) 0.00% · Net debt $1.15B · EV $2.64B
P/E at fiscal year-ends: Dec 2025 53.4x, Dec 2024 15.2x, Dec 2023 10.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold MBC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.46% | $158M | Added +301.9% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 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 |
|---|---|---|---|---|---|---|---|
| 2026-08-25 | Young Mark A. | VP, Chief Accounting Officer | 6,000 | $55K | 8.2% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-11 | Wanninger Kurt | EVP & Chief Operations Officer | 50,000 | $461K | 19.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-10 | Kendrick Bruce Alan | EVP & Chief HR Officer | 26,245 | $237K | 9.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Young Mark A. | VP, Chief Accounting Officer | 11,765 | $101K | 16.1% | No | 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.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
4 purchases, $696K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-11 | Fracassa Philip D. | Director | 5,000 | $46K | 9.11 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-08 | Petratis David D | Director | 11,587 | $102K | 8.82 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-04 | Simon Andrea Helen | EVP & CFO | 5,000 | $43K | 8.56 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Banyard R David | CEO & President | 60,000 | $506K | 8.43 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 2 analysts; mean target USD 9.63 (low 8, high 10.9).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-25 | DA Davidson | Initiated | Neutral | $10 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2022-12-05) |
|---|---|---|
| Total return | -43.4% | -26.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -43.5% | -7.6% |
| Volatility (annualized) | 54.3% | 46.6% |
| Max drawdown | -53.5% (Feb 2026→Oct 2026) | -65.6% (Oct 2024→Oct 2026) |

## Peers (Furnishings, Fixtures & Appliances)
MLKN (MillerKnoll, Inc.) USD 21.68 +7.22% · LZB (La-Z-Boy Incorporated) USD 30.4 +6.00% · WHR (Whirlpool Corporation) USD 28.8 +8.56% · TILE (Interface, Inc.) USD 36.51 +4.11% · HNI (HNI Corporation) USD 48.21 +6.99% · XMAX (XMAX, Inc.) USD 8.75 +2.94%

## More
Full page: https://nexqual.com/MBC · 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 MBC's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/1941365/000194136526000006/mbc-20251228.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | American Woodmark | "We utilize various forms of debt, including Senior Notes and a revolving credit facility, as well as a pending Term Loan A, dependent on the closing of the Merger with American Woodmark." |
| Customer | Lowe's (LOW) | "Net sales to two of the Company's customers, Lowe's and Home Depot, each accounted for greater than 10 percent of the Company's net sales in 2025, 2024 and 2023." |
| Customer | Home Depot (HD) | "Net sales to two of the Company's customers, Lowe's and Home Depot, each accounted for greater than 10 percent of the Company's net sales in 2025, 2024 and 2023." |
| Customer | Supreme Cabinetry Brands | "The increase in 2025 is primarily due to the inclusion of Supreme during the first half of 2025 ($26.1 million), increased associate-related costs, net of lower variable compensation ($10.2 million), continued investment…" |

## Revenue by product line (quarter ended 2026-06-28)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Dealers | $412.3M | 50.6% | +0.6% |
| Retailers | $262.7M | 32.2% | +17.8% |
| Builders | $140.2M | 17.2% | +43.2% |
| Total revenue | $815.2M | 100% | — |

## Revenue by region (quarter ended 2026-06-28)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $787.9M | 96.7% | +12.6% |
| Canada | $24.8M | 3.0% | -11.1% |
| Mexico | $2.5M | 0.3% | -16.7% |
| Total revenue | $815.2M | 100% | — |

## Company outlook (8-K filed 2026-08-04)

- "For full year 2026, MasterBrand is reiterating its expectation that its addressable market will be down mid-single digits."
- "Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions used for historical non-GAAP measures. 3 This financial outlook only reflects the impac"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.03 | $0.18 | -83.3% | $1.06B | 3 |
| Next quarter (ends 2026-12-31) | $-0.06 | $0.09 | -163.0% | $1.01B | 3 |
| Current fiscal year (ends 2026-12-31) | $-0.04 | $0.41 | -108.9% | $3.49B | 3 |
| Next fiscal year (ends 2027-12-31) | $0.22 | $0.61 | -63.9% | $4.16B | 3 |