Credit and interest ratesmixed · 4 filings
“The higher net borrowings was driven by the increased cash used in operating activities in the first quarter of 2026.”10-Q · May 6, 2026 ↗
MasterBrand, Inc.
MBC
Market read
MasterBrand, Inc.'s move is spreading beyond its market group.
MBC accounts for 12.7% of the group's measured movement across 4.3 effective names. all 12 measured members are falling in raw terms, but 0 of 12 SPY-adjusted paths align to the mixed. Capital-flow agreement is 32%, so confirmation is not yet clean. No verified headline preceded the measured group move.
MOVE ANATOMY
SPY-adjusted 5m pathsIs this move genuinely shared?
Role in the moveIndependent mover#4 of 12 by movement share
Group movement share12.7%Absolute path energy—not portfolio weight
Relative path+0.64%mixed
Effective breadth4.3 / 12balanced
Relative alignment0/12mixed path · 0 counter-moving
Capital-flow agreement32%not yet clean
SEQUENCE READ
EXP, BCC, CCS moved materially before MBC. MBC crossed its material path threshold at 15:50 ET, 65 minutes after the first measured mover.
EVIDENCE COVERAGE
5 of 18 members in Housing Construction are active. 1 of 3 disclosed connections are confirming.
What would change this read
Watch this read- At least 12 of 18 durable members become active together.
- Capital-flow agreement rises above 55%.
- FBIN remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 6 of 18 members or fewer.
Research brief
The story so far
MBC accounts for 12.7% of the group's measured movement across 4.3 effective names. all 12 measured members are falling in raw terms, but 0 of 12 SPY-adjusted paths align to the mixed. Capital-flow agreement is 32%, so confirmation is not yet clean. No verified headline preceded the measured group move.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- At least 12 of 18 durable members become active together.
- Capital-flow agreement rises above 55%.
- FBIN remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods5
Price observations319
Usable filing statements72
Verified relationships3
Evidence supporting the case
- Operating cash flow covered net income at 7.33x in the latest annual period.
Evidence challenging the case
- Operating margin changed -4.4 percentage points in the latest annual period.
- Net margin changed -3.7 percentage points in the latest annual period.
- Foreign exchange has repeated adverse evidence across 4 filings.
Questions before a position
- EV/sales is 45% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
7.446m-26.5%12m-43.1%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-26$2.9B—$1.43—
2022-12-25$3.3B+14.7%$1.20+0.9%
2023-12-31$2.7B-16.8%$1.40+0.6%
2024-12-29$2.7B-0.9%$0.96+0.8%
2025-12-28$2.7B+1.3%$0.21-1.3%
What management says matters
Persistent and emerging business drivers
Foreign exchangenegative · 4 filings
“This increase was primarily due to higher transactional foreign currency gains in the first quarter of 2026, as compared to the first quarter of 2025, due to fluctuations in exchange rates.”10-Q · May 6, 2026 ↗
Capital investment and capacitymixed · 3 filings
“The year-over-year increase is due to increased capital expenditures as compared to the prior year.”10-Q · May 6, 2026 ↗
Restructuring and cost reductionsmixed · 2 filings
“As a result of the workforce reduction, the Company recorded $8.1 million of one-time termination benefit costs for employees who voluntarily and involuntarily terminated their employment with the Company during the quarter.”10-Q · May 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.4× · EV/sales 0.6×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
7.45-4.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 12:10 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for MBC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for MBC. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind MBC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
JPMJPMorgan Chase & Co.lenderMay 6, 2026 ▾
“7 Amended and Restated Credit Agreement, dated as of June 27, 2024, among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.”
HDThe Home Depot, Inc.customerFeb 13, 2026 ▾
“Net sales to two of the Company’s customers, Lowe’s and Home Depot, each accounted for greater than 10 percent of the Company’s net sales in 2025, 2024 and 2023.”
Depended on by
FBINFortune Brands Innovations, Inc.investeeFeb 23, 2026 ▾
“7 In connection with the separation of our Cabinets business, MasterBrand, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
MBC is currently a Participant in the organic co-movement group Housing Construction. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.