BRUNSWICK CORP
$76.14
−0.36 (−0.47%) · delayed · Nov 13, 2026
Five-year price
52w $59.06 to $90.25
- Market cap
- $4.9B
- Enterprise value
- $6.7B
- P/E
- —
- 39.3× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- 8.1%
- ROIC
- −0.9%
- Debt / equity
- 1.29
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
67
- ○ROIC > 12% (5y avg)5y avg ROIC 11.2%
- ●ROE > 15% (5y avg)5y avg ROE 16.5%
- ○Stable operating marginsMargin volatility 5.6% (σ, 5y)
- ●Earnings convert to cashFCF / net income 97% (5y avg)
- ●Growing revenueRevenue CAGR 5y 4.3%
- ●Shrinking share countDiluted shares -17.3% over 5y
Value
n/a
- –P/E below 15P/E n/a
- –EV/EBIT below 12EV/EBIT n/a
- ●FCF yield above 6%FCF yield 8.1%
- –Price below Graham NumberGraham Number n/a
- ○P/B below 3P/B 3.0
Safety
0
- ○Debt / equity below 0.5D/E 1.29
- ○Debt payable in < 4 yrs of earningsNet debt $1.8B
- ○Interest coverage > 8xCoverage -0.4x
- ○Current ratio > 1.5Current ratio 1.44
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
29
- ●Adequate size (revenue > $2B)Revenue $5.4B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.44
- ○Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -24%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 39.3
- ○P/E × P/B ≤ 22.5Product 118.3
Valuation lab
What do you have to believe?
At $76.14, the market is pricing in about 3.5% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $1.8B · 64M shares · 5y revenue CAGR 4.3%
Intrinsic value
$80.20
Price
$76.14
Margin of safety
5%
What the price implies
The market is paying for 3.5% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
56% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,489 | 3,802 | 4,121 | 4,108 | 4,348 | 5,846 | 6,812 | 6,401 | 5,237 | 5,363 |
| Gross profit | 1,180 | 1,262 | 1,047 | 1,121 | 1,213 | — | — | — | — | — |
| Operating income | 480 | 330 | 356 | 471 | 539 | 813 | 948 | 735 | 312 | (41) |
| Operating margin | 10.7% | 8.7% | 8.6% | 11.5% | 12.4% | 13.9% | 13.9% | 11.5% | 5.9% | -0.8% |
| Pre-tax income | 390 | 213 | 311 | 111 | 473 | 736 | 854 | 629 | 203 | (136) |
| Income tax | 115 | 112 | 57 | 80 | 98 | 141 | 172 | 196 | 54 | 0 |
| Net income | 276 | 146 | 265 | (131) | 373 | 593 | 677 | 420 | 130 | (137) |
| EPS (diluted) | 3.00 | 1.62 | 3.01 | -1.53 | 4.68 | 7.57 | 9.00 | 5.96 | 1.93 | -2.08 |
| Diluted shares | 92 | 90 | 88 | 86 | 80 | 78 | 75 | 71 | 67 | 66 |
Who owns it