COMPANY PROFILE -Masco Corporation
Business Sector :Manufacturing
Operating Geography :United States, North America, Global
About Masco Corporation :
Masco Corporation is a producer of products for the home improvement and new home construction markets. It is headquartered in Livonia, Michigan, U.S. In 1929, the company was organised as Masco Screw Products Company by Alex Manoogian in Detroit, Michigan and it produced machined automotive parts for the Detroit automotive companies. Later, Masco Screw Products grew into the Masco Corporation, a large corporate holding company for various acquisitions. Masco Corporation took over the small, family-run businesses with cash and stock in the parent corporation. In 1961, Masco Screw Products Company changed its name to Masco Corporation and in 1975 it first appeared on the fortune 500. The company operates nearly 60 manufacturing facilities in the United States and over 20 in other parts of the world. Masco has 28 manufacturing properties and 23 warehouses and distribution properties ranging from single warehouse buildings to complex manufacturing facilities in North America and its international facilities include 10 manufacturing properties and 18 warehouse and distribution properties in China, Germany and the United Kingdom. As of 2020 the company ranks 384 on the Fortune 500. The board intends to increase annual dividend to $0.94 per share in the beginning of 2021.
Masco Corporation's Unique Selling Proposition or USP lies in it being a global leader in the design, manufacture and distribution of branded home improvement and building products. The company's mission statement reads, "Masco Corporation's mission is to provide high quality products that enhance the lives of homebuilders and consumers worldwide"
Masco Corporation Revenue :
$ 6,707 million - FY ending 31st December 2019 (y-o-y growth 0.79%)
$ 6,654 million - FY ending 31st December 2018
Competitive Analysis of Masco Corporation
The SWOT analysis for Masco Corporation is presented below in a matrix followed by the detailed analysis report:
Strengths | Weaknesses |
1. Strong leader in plumbing products in North America
2. Robust product portfolio with over 30+ brands
3. Strong focus in innovation
4. Strong financial position providing long term value for shareholders
| 1. Lower sales volume in lighting products
2. Rise in the depreciation and amortization expenses
|
Opportunities | Threats |
1. Business penetration on e-commerce platforms
2. Tapping emerging markets in Asia with high growth potential
| 1. Intense market competition
2. Fluctuations in home prices and home sales
3. Spike in private label brands mostly in North America
4. Major dependence on third party suppliers
|
Masco Corporation SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of Masco Corporation
Strength
1. Strong leader in plumbing products in North America: Masco plumbing brands are the most favored products across large retailers like The Home Depot and Lowe’s. It holds a wide range of products which include faucets, showerheads, valves, bath hardware and accessories, bathing units, shower bases, enclosures, and toilets. Masco holds a strong market share of 42.19% globally across its plumbing products segment. The third quarter of 2020 has witnessed a phenomenal rise in operating profits amounting to $ 271 million and total revenue of $ 1141 million in the plumbing segment. The lion's share of its sales, of nearly 65% is from North America, 12% is from Europe. Masco is optimistic about its performance with sales to shoot by 8-10% in the fourth quarter of 2020. As per 2019 financial reports, out of the total revenue of $ 6.7 billion, plumbing products earned $ 4.0 billion of revenue for Masco. Masco’s commitment to product innovation is one of the strong driving factors that makes Masco a market leader in the plumbing segment.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
1. Business penetration on e-commerce platforms: The COVID-19 pandemic has created a negative impact on most of the sectors but the housing market has witnessed growth in the year 2020. With people spending more time in their homes, the availability of high-speed internet service and the need for comfort due to work hours added to time spent at home, has resulted in increased spending on repair and remodeling of homes. With changing consumer preferences e-commerce is growing as a convenient platform for shopping. E-commerce is gaining great traction in emerging markets like India and other Asian countries. The key favorable factors for Masco could be the young demographic profile, rising internet penetration, and scaling economic performance in the Asian countries for it to venture. 100 percent FDI in B2B e-commerce and 100 percent FDI under automatic route under the marketplace of B2C e-commerce sites could be a point to consider entering the Indian markets. Online shoppers are expected to reach 220 million by 2025 and the potential for e-commerce to grow by 1200 percent by 2026. Developed economies like the UK has also witnessed a growth in sales of plumbing products by 17% through online platforms due to a steady rise in internet users and a growth of around 43% is expected by 2022.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
1. Intense market competition: Over the years with the growth of the housing market, particularly after the 2008 global crisis, has been very significant. This marked growth has led to a rise in demand for plumbing products. This has created significant competition in this sector, with foreign manufacturers from Europe and China selling their products at significantly low prices, which has made this competition intense. Factors such as fluctuation in prices of Titanium dioxide and acrylic resins which varies based on the global demand can create an undue advantage for a few manufacturers. Petroleum by-products which form a part of the manufacturing cycle, influence the prices to a large extent; highly volatile nature of the petroleum products pricing due to trade disputes, taxation’s has given an advantage to foreign players to venture into this segment which thereby resulted in the competitive pricing structure.
The remaining section under "Threat" is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Masco Corporation is presented below in a table followed by the detailed analysis report.
Political | Economical |
1. Trade disputes between United States and China has resulted in increased tariffs
| 1. Rise in Energy costs may result in price hike
2. Fluctuations in foreign exchange rates
3. COVID-19 impact on supply chains
|
Social | Technological |
1. Shift in consumer preferences to spas, exercise pools and fitness systems
| 1. Increased global cyber security vulnerabilities |
Legal | Environmental |
1. Reduction in the US Federal tax rates from 35 percent to 21 percent
2. Masco’s apprehensions on protection of intellectual property rights
| 1. Masco plumbing products with composition of chemicals like lead and mercury are subjected to restrictions
2. Masco paint products are formulated with volatile organic compounds and are formulated as per the regulations
|
Masco Corporation SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Masco Corporation
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
1. Reduction in the US Federal tax rates from 35 percent to 21 percent: Before the Tax Cuts and Jobs Act, the United States high statutory corporate tax stood at one of the highest among the OECD countries. The tax cuts and jobs act has permanently lowered the corporate tax rate from 35 percent to 21 percent. Lowered corporate tax rate will increase the capital investments and increase the wages of the employees. For corporates, a lowered tax rate will promote increased investments in machinery, equipment and warehouse, which eventually boosts worker productivity leading to increased output and higher wages for workers. The revised tax rates have significantly benefited Masco Corporation with tax benefits to the tune of $17 million. The effective tax rate was 25 percent, 24 percent in 2019, 2018 and 34 percent in 2017.
The remaining section under "Legal" is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Competitors :
- American Woodmark
- Norcraft Companies
- MAAX
- WELLBORN
- Danze
Major Brands :
- Behr paint
- Delta and Hansgrohe faucets
- Kichler decorative and outdoor lighting
- HotSpring spas
Masco Corporation SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Check Out Analysis of Other Relevant Companies
References used in Masco Corporation SWOT & PESTLE Analysis Report
1. 2019 Annual report - https://s1.q4cdn.com/387119661/files/doc_financial/annual/AR_2019_Final_IR.pdf
2. Masco Corporation Investor Day - https://s1.q4cdn.com/387119661/files/doc_financials/2020/q3/MAS-Q3-2020-Earnings-Presentation.pdf
3. Masco Competition Market share by Company's segment - https://csimarket.com/stocks/competitionSEG2.php?code=MAS
4. Emerging Markets: Asia - https://www.forbes.com/custom/category/economic-development/emerging-markets-asia/
5. Plumbing features market by material & product - https://www.marketsandmarkets.com/Market-Reports/plumbing-fixture-market-77394490.html
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Masco Corporation SWOT and PESTLE analysis has been conducted by Shyam Kumar Kundrapu and reviewed by senior analysts from Barakaat Consulting.
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