Johnson Controls vs Masco
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KIRA’s take AI analyst
I put Johnson Controls and Masco side by side, using each one’s latest annual report. Here is what stands out:
- 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 26.7x against 18.7x for Masco.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Johnson Controls
JCI
4/9
Revenue growth5-year growthGross marginNet margin
Masco
MAS
5/9
FCF marginReturn on capitalPiotroski F-scoreNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | JCI FY25 | MAS FY25 |
|---|---|---|
| Size | ||
| Market cap | $90.6B | $15.4B |
| 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 | 26.7x | 18.7x |
| Piotroski F-score | 6 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.