Johnson Controls vs Masco
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The short version
- Johnson Controls is the larger business, with $23.6B of revenue in fiscal 2025 against $7.6B for Masco, about 3.1 times as much.
- Johnson Controls grew revenue faster (2.8%, against −3.4%).
- Masco turned more of its sales into free cash flow (11.5% FCF margin, against 9.0%).
- Masco earned a higher return on the capital invested in it (40.4%, against 8.2%).
- Investors pay more for each dollar of Johnson Controls’s earnings: a P/E of 26.0x against 18.9x for Masco.
| Latest fiscal year | JCI · FY25 | MAS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $88.4B | $15.5B |
| Revenue | $23.6B | $7.6B |
| Free cash flow | $2.1B | $866M |
| Net income | $3.3B | $810M |
| Growth | ||
| Revenue growth | 2.8% | −3.4% |
| 5-year growth | 1.1% | 1.0% |
| Share count change | −3.2% | −4.1% |
| Profitability | ||
| Gross margin | 36.4% | 35.4% |
| Operating margin | — | 16.5% |
| Net margin | 14.0% | 10.7% |
| FCF margin | 9.0% | 11.5% |
| Return on capital | 8.2% | 40.4% |
| Return on equity | 22.7% | — |
| Balance sheet | ||
| Net debt | $9.5B | $2.3B |
| Net debt / EBITDA | 3.0x | 1.7x |
| Dividends and buybacks | $7.0B | $832M |
| Valuation & quality | ||
| P/E | 26.0x | 18.9x |
| Piotroski F-score | 6 | 7 |
Revenue
FY16
JCI $20.8B
MAS $7.4B
FY17
JCI $22.8B
MAS $6.0B
FY18
JCI $23.4B
MAS $6.7B
FY19
JCI $24.0B
MAS $6.7B
FY20
JCI $22.3B
MAS $7.2B
FY21
JCI $23.7B
MAS $8.4B
FY22
JCI $20.6B
MAS $8.7B
FY23
JCI $22.3B
MAS $8.0B
FY24
JCI $23.0B
MAS $7.8B
FY25
JCI $23.6B
MAS $7.6B
JCI
MAS
Operating margin
FY16
JCI —
MAS 14.8%
FY17
JCI —
MAS 17.1%
FY18
JCI —
MAS 16.2%
FY19
JCI —
MAS 16.2%
FY20
JCI —
MAS 18.0%
FY21
JCI —
MAS 16.8%
FY22
JCI —
MAS 14.9%
FY23
JCI —
MAS 16.9%
FY24
JCI —
MAS 17.4%
FY25
JCI —
MAS 16.5%
JCI
MAS
Free cash flow
FY16
JCI $659M
MAS $609M
FY17
JCI −$389M
MAS $578M
FY18
JCI $875M
MAS $813M
FY19
JCI $1.2B
MAS $671M
FY20
JCI $2.0B
MAS $839M
FY21
JCI $2.0B
MAS $802M
FY22
JCI $750M
MAS $616M
FY23
JCI $1.4B
MAS $1.2B
FY24
JCI $1.1B
MAS $907M
FY25
JCI $2.1B
MAS $866M
JCI
MAS
Return on capital
FY16
JCI 4.7%
MAS 40.5%
FY17
JCI 3.1%
MAS 36.9%
FY18
JCI 5.0%
MAS 36.5%
FY19
JCI 4.8%
MAS 35.8%
FY20
JCI 4.1%
MAS 49.8%
FY21
JCI 7.6%
MAS 48.4%
FY22
JCI 5.4%
MAS 43.0%
FY23
JCI 5.6%
MAS 42.7%
FY24
JCI 6.7%
MAS 43.6%
FY25
JCI 8.2%
MAS 40.4%
JCI
MAS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.