BRADY CORP BRC
Brady was incorporated under the laws of the state of Wisconsin in 1914. Brady is a global manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The ability to provide customers with a broad range of proprietary, customized and diverse products for use in various applications across multiple industries and geographies, along with a commitment to quality and service, have made Brady a leader in many of its markets.
The Company is organized and managed on a geographic basis with two reportable segments: Americas & Asia and Europe & Australia. The Americas & Asia segment is comprised of our operations in North America, South America and Asia, while the Europe & Australia segment is comprised of our operations in Europe, the Middle East, Africa and Australia. This
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.66B | $1.51B | $1.34B | $1.33B | $1.30B | $1.14B | $1.08B | $1.16B | $1.17B | $1.11B |
| Cost of revenue | $801.7M | $752.8M | $653.5M | $674.6M | $670.5M | $583.3M | $552.7M | $582.0M | $585.6M | $555.0M |
| Gross profit | $859.8M | $760.8M | $687.9M | $657.3M | $631.6M | $561.4M | $528.6M | $578.7M | $588.3M | $558.3M |
| R&D | $94.0M | $79.9M | $67.7M | $61.4M | $58.5M | $44.6M | $40.7M | $45.2M | $45.3M | $39.6M |
| SG&A | $502.3M | $444.3M | $376.7M | $370.7M | $380.0M | $349.8M | $336.1M | $371.1M | $390.3M | $387.7M |
| Total operating expenses | $596.3M | $524.2M | $444.5M | $432.1M | $438.5M | $394.3M | $390.5M | $416.2M | $435.6M | $427.3M |
| Operating income | $263.5M | $236.6M | $243.4M | $225.2M | $193.0M | $167.1M | $138.0M | $162.4M | $152.7M | $131.0M |
| Interest expense | $9.7M | $4.7M | $3.1M | $3.5M | $1.3M | $437.0K | $2.2M | $2.8M | $3.2M | $5.5M |
| Pre-tax income | $259.4M | $237.1M | $247.8M | $225.7M | $192.0M | $171.0M | $140.9M | $164.6M | $152.0M | $126.6M |
| Income tax | $54.0M | $47.8M | $50.6M | $50.8M | $42.0M | $35.6M | $28.3M | $33.4M | $61.0M | $31.0M |
| Net income | $205.4M | $189.3M | $197.2M | $174.9M | $150.0M | $129.7M | $112.4M | $131.3M | $91.1M | $95.6M |
| Shares, diluted (wtd. avg.) | $47.8M | $48.1M | $48.5M | $49.9M | $51.7M | $52.4M | $53.2M | $53.3M | $52.5M | $52.0M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $187.1M | $174.3M | $250.1M | $151.5M | $114.1M | $147.3M | $217.6M | $279.1M | $181.4M | $133.9M |
| Receivables | $260.9M | $231.9M | $185.5M | $184.4M | $183.2M | $170.6M | $146.2M | $158.1M | $161.3M | $149.6M |
| Inventory | $225.2M | $200.9M | $152.7M | $177.1M | $190.0M | $136.1M | $135.7M | $120.0M | $113.1M | $107.0M |
| Total current assets | $688.5M | $621.8M | $599.7M | $524.8M | $498.1M | $465.1M | $509.4M | $573.3M | $471.3M | $407.8M |
| Property, plant and equipment | $254.5M | $225.6M | $195.8M | $142.1M | $139.5M | $121.7M | $115.1M | $110.0M | $97.9M | $98.1M |
| Goodwill | $686.0M | $676.9M | $589.6M | $592.6M | $586.8M | $614.1M | $416.0M | $411.0M | $419.8M | $437.7M |
| Other intangibles | $97.8M | $105.4M | $51.8M | $62.1M | $74.0M | $92.3M | $22.3M | $36.1M | $42.6M | $53.1M |
| Total assets | $1.85B | $1.73B | $1.52B | $1.39B | $1.37B | $1.38B | $1.14B | $1.16B | $1.06B | $1.05B |
| Accounts payable | $108.7M | $105.0M | $84.7M | $79.9M | $81.1M | $82.2M | $62.5M | $64.8M | $66.5M | $66.8M |
| Short-term debt | — | — | — | — | — | — | $0 | $50.2M | $0 | — |
| Total current liabilities | $355.5M | $330.3M | $264.7M | $258.0M | $255.2M | $257.6M | $185.9M | $241.9M | $190.9M | $187.2M |
| Long-term debt | $15.0M | $99.8M | $90.9M | — | — | — | — | $50.2M | $52.6M | $104.5M |
| Total liabilities | $494.4M | $542.0M | $448.9M | $398.3M | $456.0M | $414.7M | $279.4M | $306.5M | $304.8M | $350.1M |
| Retained earnings | $1.48B | $1.32B | $1.17B | $1.02B | $892.4M | $788.4M | $704.5M | $637.8M | $553.5M | $507.1M |
| Total equity | $1.36B | $1.19B | $1.07B | $990.9M | $911.3M | $963.0M | $752.1M | $700.1M | $700.1M | $700.1M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $244.1M | $181.2M | $255.1M | $209.1M | $118.4M | $205.7M | $141.0M | $162.2M | $143.0M | $144.0M |
| Depreciation and amortisation | $44.9M | $40.6M | $29.9M | $32.4M | $34.2M | $25.5M | $23.4M | $23.8M | $25.4M | $27.3M |
| Stock-based compensation | $22.9M | $11.9M | $7.4M | $7.5M | $10.5M | $10.1M | $8.8M | $12.1M | $10.0M | $9.5M |
| Capital expenditure | $51.5M | $27.6M | $79.9M | $19.2M | $43.1M | $27.2M | $27.3M | $32.8M | $21.8M | $15.2M |
| Investing cash flow | -$59.0M | -$171.3M | -$81.0M | -$11.2M | -$43.1M | -$268.6M | -$36.1M | -$34.5M | -$2.9M | -$15.3M |
| Financing cash flow | -$177.4M | -$83.9M | -$70.5M | -$163.6M | -$102.1M | -$12.3M | -$163.5M | -$27.6M | -$90.7M | -$136.2M |
| Dividends paid | $46.1M | $45.5M | $45.1M | $45.4M | $45.9M | $45.7M | $45.8M | $44.7M | $42.9M | $41.9M |
| Buybacks | $42.2M | $50.8M | $72.2M | $75.0M | $109.2M | $3.6M | $64.5M | $3.2M | $1.5M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000746598-26-000044.
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