Masco Corporation is a global leader in the design, manufacture, and distribution of branded home improvement and building products. The company's portfolio includes industry-leading brands such as BEHR® paint; DELTA® and HANSGROHE® faucets; KICHLER® decorative and outdoor lighting; LIBERTY® branded decorative and functional hardware; and HOT SPRING® spas. Masco leverages its brands across product categories, sales channels, and geographies. The company's business is focused on residential repair and remodeling activity and, to a lesser extent, new home construction.

• Employees: Approximately 18,000 (as of December 31, 2023)
• Geographic Footprint: Primarily North America, Europe and China
• Headquarters: Livonia, Michigan
• Founded: Not explicitly stated in the 10K
• Number of locations/facilities: 30 manufacturing and 27 warehouse/distribution facilities in North America; 12 manufacturing and 17 warehouse/distribution facilities outside of North America
• Revenue: $7.967 billion (FY2023)
• Market Capitalization: $12.869 billion (as of June 30, 2023 based on non-affiliate holdings)
• Key Subsidiaries/Brands: BEHR, DELTA, HANSGROHE, KICHLER, LIBERTY, HOT SPRING, BRASSCRAFT, PLUMBSHOP, MASTER PLUMBER

• CEO: Keith J. Allman
• CFO: Richard J. Westenberg
• Vice President, Controller and Chief Accounting Officer: Robin L. Zondervan
• Board Chair: Lisa A. Payne

The 10K does not provide specific details on tenure or professional background for these executives.

• Annual Revenue: $7.967 billion (FY2023)
• Net Income: $908 million (FY2023)
• Market Cap: $12.869 billion (as of June 30, 2023 based on non-affiliate holdings)
• Total Assets: $5.363 billion (as of December 31, 2023)
• Number of Employees: Approximately 18,000 (as of December 31, 2023)
• Key Financial Highlights: Net sales decreased 8% compared to 2022, excluding acquisitions and the effect of currency translation. Gross profit margin was 35.6% and operating profit margin was 16.9%.

Masco offers a wide array of branded home improvement and building products.

• Plumbing Products: Faucets, showerheads, valves, bath hardware, bathing units, shower bases, enclosures, drains, steam shower systems, sinks, kitchen accessories, toilets, spas, exercise pools, aquatic fitness systems, saunas, and water handling systems.
• Decorative Architectural Products: Architectural coatings (paints, primers, stains, waterproofing products), paint applicators, cabinet and door hardware, functional hardware, wall plates, hook and hook rail products, outdoor living hardware, decorative bath hardware, shower accessories, mirrors, shower doors, and decorative indoor and outdoor lighting fixtures and ceiling fans.

Masco reports its financial results in two segments:

• Plumbing Products: This segment sells faucets, plumbing system components, and related products. In 2023, this segment had net sales of $4.842 billion.
• Decorative Architectural Products: This segment sells architectural coatings, paint applicators, and related products, as well as lighting and hardware. In 2023, this segment had net sales of $3.125 billion.

Masco's strategy focuses on driving the full potential of its core businesses, leveraging opportunities across the enterprise, and actively managing its portfolio. Key initiatives include:

• Investing in brands and developing innovative products.
• Making capital investments and focusing on continuous productivity improvement and operational excellence.
• Leveraging the Masco Operating System to improve business operations.
• Strategic rationalization of businesses, including consolidations and cost savings initiatives.

The company aims to maintain a balanced growth strategy, pursuing both organic growth and strategic acquisitions. They also actively manage their portfolio by divesting businesses that do not align with their long-term strategy.

Masco operates in the home improvement and building products industry. Key aspects of the competitive landscape include:

• Market Position: The company is a global leader in its industry.
• Key Competitors: Competitors include large national and international brands as well as private label and digitally native brands. Specific competitors mentioned include: Benjamin Moore & Co., PPG Industries, Inc., RPM International, Inc., The Sherwin-Williams Company, Dornbracht AG & Co. KG, Zurn Elkay Water Solutions Corporation, Fortune Brands Innovations, Inc., Kohler Co., Lixil Group Corporation, Spectrum Brands Holdings, Inc., Artesian Spas, Harvia, Jacuzzi and Master Spas.
• Industry Trends: The industry is influenced by residential repair and remodel activity, new home construction, consumer purchasing practices, and economic cycles. Competition is based on brand reputation, product features, innovation, quality, customer service, and price.

• Strategic Risks: The company's business is impacted by economic factors affecting residential repair and remodeling and new home construction. Failure to achieve strategic initiatives or successfully execute acquisitions could also adversely impact the business.
• Business and Operational Risks: Variability in the cost and availability of raw materials, component parts, and finished products could impact results. The company is dependent on suppliers and service providers, and disruptions in the supply chain could have an adverse effect.
• International Risks: International operations expose the company to foreign currency risks, differences in regulations and policies, and disruptions in trade relations.
• Competitive Risks: Failure to maintain strong brands, develop innovative products, or respond to changing consumer preferences could result in loss of market share.
• Technology and Intellectual Property Risks: The company is subject to cybersecurity attacks, and a breakdown or interruption of information systems could adversely impact operations. The company may not be able to adequately protect its intellectual property.