MasterBrand, Inc. (MBC) Q3 2025 10-Q Quarterly Report
Filed: Nov 5, 2025Period ending Sep 28, 2025
Consumer Discretionary
Wood Household Furniture, (No Upholstered)SEC EDGAR MasterBrand, Inc. (MBC) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 28, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
MasterBrand, Inc. Q3 2025 10-Q Analysis
Risk Factors
- • Financial risk: Refinanced $1.25B 2022 credit with $700M Senior Notes at 7.00% interest, maturing July 15, 2032, and new 2024 Credit Agreement with covenant leverage max 3.25x-3.75x
- • Operational risk: Acquisition of Supreme funded partly by $430M revolving credit draw, integrating Supreme's full-year depreciation of $51.2M impacting cash flow
- • Regulatory risk: 2024 Credit Agreement financial covenants include net leverage ratio cap and 3.00x minimum interest coverage, with default risk causing loan acceleration and collateralization
- • Market risk: Operating cash flow declined to $108.8M YTD 2025 from $176.9M YTD 2024, due to lower net income $68.7M vs $111.9M and higher working capital requirements
- • Liquidity risk: $954.1M debt outstanding net of fees as of September 28, 2025, with $375M term loan linked to pending Merger, dependent on merger closing for funding
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