A Business at a Glance
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BRUNSWICK CORP
BC
$5.3B
Mkt Cap
$79.92
+0.45%
BRUNSWICK CORP (BC) has a 5-year average return on invested capital (ROIC) of 14.7%. This indicates solid capital allocation.
BRUNSWICK CORP (BC) has a market capitalization of $5.2B. It is classified as a mid-cap stock.
Yes, BRUNSWICK CORP (BC) pays a dividend with a trailing twelve-month yield of 2.18%. The company also returns capital through share buybacks, with a buyback yield of 1.36%.
BRUNSWICK CORP (BC) operates in the Engines & Turbines industry, within the Industrials sector.
BRUNSWICK CORP (BC) reported annual revenue of $5.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
BRUNSWICK CORP (BC) has a net profit margin of -2.6%. The company is currently unprofitable.
BRUNSWICK CORP (BC) generated $396 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Brunswick Corporation is a global leader in marine recreation, designing, manufacturing, and marketing recreational marine products across four primary segments: Propulsion (marine engines and propulsion systems), Engine Parts & Accessories (aftermarket parts, consumables, and distribution), Navico Group (marine electronics, electrification, and digital components), and Boats (recreational vessels and boat club operations). The company generates revenue through a diversified model combining original equipment manufacturer (OEM) sales to over 900 boat builders, distribution to approximately 9,000 marine dealers and retailers, and direct consumer offerings including the world's largest boat club; unit economics are characterized by recurring revenue from aftermarket parts, accessories, and subscription services representing approximately 60% of earnings, providing stability across market cycles. Brunswick's competitive moat derives from its portfolio of leading brands (Mercury Marine, Mercury Racing, Simrad, B&G, Lowrance, and multiple boat brands), technological differentiation in propulsion and electronics, and integrated ecosystem capabilities spanning engines, controls, electronics, and shared-access experiences. The company serves recreational boating participants globally, with significant exposure to North American markets and growing international presence, while also serving commercial and racing applications through specialized product lines.
【Market stabilization and operational leverage】 Management expects a flat to slightly up U.S. retail boat market in 2026, supported by falling interest rates, improved dealer sentiment, and low dealer pipelines that should drive wholesale ordering aligned with retail demand. The company anticipates continued market share gains in propulsion and premium boat categories, with benefits from new product launches including Simrad NSO 4, B&G Zeus SRX, and Lowrance ActiveTarget 2 XL, while tariff mitigation strategies are expected to continue offsetting a portion of incremental tariff costs. Brunswick plans to drive operational efficiencies through supply chain improvements, production line consolidation, and facility rationalization, with anticipated run-rate savings exceeding $10 million annually upon completion of the boat business footprint transition in mid-2026. The company remains committed to debt reduction targeting net leverage below 2.0x by year-end 2026 while maintaining investments in product innovation, AI, autonomy, connectivity, electrification, and shared-access technologies.
| Metric | Target | Period |
|---|---|---|
| Revenue | $5.6–$5.8 billion | FY2026 |
| Adjusted Operating Margin | 7.5%–8% | FY2026 |
| Adjusted EPS | $3.80–$4.40 | FY2026 |
| Adjusted EPS | $4.00–$4.50 | FY2026 |
| Free Cash Flow | In excess of $350 million | FY2026 |
| Incremental Net Tariff Impact | $35–$45 million | FY2026 |
| Debt Retirement | No less than $160 million | FY2026 |
Revenue (FY2026): “These assumptions translate into guidance you see on this page, with anticipated revenue of between $5.6-$5.8 billion, adjusted operating margins between 7.5%-8%, and adjusted EPS in the range of $3.80-$4.40.”
Adjusted Operating Margin (FY2026): “These assumptions translate into guidance you see on this page, with anticipated revenue of between $5.6-$5.8 billion, adjusted operating margins between 7.5%-8%, and adjusted EPS in the range of $3.80-$4.40.”
Adjusted EPS (FY2026): “These assumptions translate into guidance you see on this page, with anticipated revenue of between $5.6-$5.8 billion, adjusted operating margins between 7.5%-8%, and adjusted EPS in the range of $3.80-$4.40.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.5B | 5.4B | 5.2B | 6.4B | 6.8B | 5.8B |
| Net Income | -136M | -137M | 130M | 420M | 677M | 593M |
| EPS | $-2.10 | $-2.08 | $1.93 | $5.96 | $9.00 | $7.57 |
| Free Cash Flow | 340M | 396M | 264M | 444M | 198M | 307M |
| ROIC | -0.9% | -1.1% | 6.2% | 14.6% | 23.8% | 29.8% |
| Gross Margin | - | 24.8% | 25.8% | 27.9% | 28.6% | 28.5% |
| Debt/Equity | 1.74 | 1.47 | 1.30 | 1.16 | 1.23 | 0.95 |
| Dividends/Share | $1.74 | $1.72 | $1.68 | $1.60 | $1.46 | $1.28 |
| Operating Income | -47M | -41M | 312M | 735M | 948M | 813M |
| Operating Margin | -0.8% | -0.8% | 5.9% | 11.5% | 13.9% | 13.9% |
| ROE | -8.5% | -7.8% | 6.5% | 20.4% | 34.2% | 34.7% |
| Shares Outstanding | 65M | 66M | 67M | 71M | 75M | 78M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.8B | 3.8B | 4.5B | 3.8B | 4.1B | 4.1B | 4.3B | 5.8B | 6.8B | 6.4B | 5.2B | 5.4B | 5.5B |
| Gross Margin | 27.0% | 29.5% | 26.3% | 33.2% | 25.4% | 27.3% | 27.9% | 28.5% | 28.6% | 27.9% | 25.8% | 24.8% | N/A |
| R&D | 120M | 114M | 139M | 112M | 122M | 122M | 126M | 155M | 203M | 185M | 170M | 169M | 177M |
| SG&A | 557M | 528M | 598M | 458M | 515M | 510M | 544M | 698M | 771M | 812M | 748M | 851M | 885M |
| EBIT | 329M | 331M | 480M | 330M | 356M | 471M | 539M | 813M | 948M | 735M | 312M | -41M | -47M |
| Op. Margin | 8.6% | 8.8% | 10.7% | 8.7% | 8.6% | 11.5% | 12.4% | 13.9% | 13.9% | 11.5% | 5.9% | -0.8% | -0.8% |
| Net Income | 246M | 241M | 276M | 146M | 265M | -131M | 373M | 593M | 677M | 420M | 130M | -137M | -136M |
| Net Margin | 6.4% | 6.4% | 6.1% | 3.9% | 6.4% | -3.2% | 8.6% | 10.1% | 9.9% | 6.6% | 2.5% | -2.6% | -2.5% |
| Non-Recurring | 200K | 0 | 0 | 0 | 0 | 12M | 3.0M | 800K | 25M | 4.9M | 80M | 306M | 306M |
| Returns on Capital | |||||||||||||
| ROIC | 36.8% | 58.0% | 48.5% | 19.8% | 16.5% | 11.5% | 22.4% | 29.8% | 23.8% | 14.6% | 6.2% | -1.1% | -0.9% |
| ROE | 22.2% | 19.7% | 20.3% | 10.0% | 17.3% | -9.1% | 26.5% | 34.7% | 34.2% | 20.4% | 6.5% | -7.8% | -8.5% |
| ROA | 8.1% | 7.7% | 8.6% | 4.4% | 6.9% | -3.3% | 10.2% | 12.9% | 11.5% | 6.7% | 2.2% | -2.5% | -2.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 248M | 331M | 435M | 400M | 337M | 434M | 798M | 574M | 586M | 734M | 431M | 562M | 525M |
| Free Cash Flow | 123M | 216M | 241M | 222M | 157M | 202M | 616M | 307M | 198M | 444M | 264M | 396M | 340M |
| Owner Earnings | 156M | 233M | 315M | 297M | 196M | 278M | 618M | 366M | 333M | 438M | 119M | 231M | 187M |
| CapEx | 125M | 114M | 194M | 178M | 180M | 233M | 182M | 267M | 388M | 289M | 167M | 166M | 185M |
| Maint. CapEx | 81M | 77M | 104M | 87M | 124M | 139M | 153M | 178M | 231M | 273M | 289M | 293M | 297M |
| Growth CapEx | 44M | 37M | 90M | 91M | 56M | 94M | 29M | 89M | 157M | 16M | 0 | 0 | 0 |
| D&A | 81M | 77M | 104M | 87M | 124M | 139M | 153M | 178M | 231M | 273M | 289M | 293M | 297M |
| CapEx/OCF | 50.3% | 34.5% | 44.5% | 44.5% | 53.5% | 53.6% | 22.8% | 46.5% | 66.3% | 39.4% | 38.8% | 29.5% | 35.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 42M | 48M | 55M | 61M | 68M | 73M | 78M | 99M | 109M | 112M | 112M | 113M | 113M |
| Dividend Yield | 1.2% | 1.2% | 1.5% | 1.4% | 1.5% | 1.9% | 1.9% | 1.4% | 2.0% | 2.1% | 2.1% | 2.9% | 2.2% |
| Share Buybacks | 20M | 120M | 120M | 130M | 75M | 400M | 118M | 120M | 450M | 275M | 200M | 80M | 71M |
| Buyback Yield | 0.5% | 3.0% | 2.8% | 3.0% | 2.1% | 8.7% | 2.1% | 1.7% | 9.2% | 4.2% | 4.7% | 1.6% | 1.4% |
| Stock-Based Comp | 11M | 21M | 16M | 16M | 17M | 17M | 27M | 30M | 22M | 22M | 23M | 39M | 41M |
| Debt Repayment | 5.3M | 3.1M | 3.2M | 3.0M | 13M | 341M | 159M | 128M | 59M | 82M | 613M | 413M | 413M |
| Balance Sheet | |||||||||||||
| Net Debt | -737M | -878M | -452M | -470M | 921M | 1.1B | -104M | 1.1B | 1.3B | 1.5B | 1.9B | 1.9B | 2.5B |
| Cash & Equiv. | 553M | 657M | 422M | 449M | 294M | 320M | 520M | 355M | 596M | 468M | 269M | 257M | 279M |
| Long-Term Debt | 446M | 443M | 434M | 432M | 1.2B | 1.1B | 908M | 1.8B | 2.4B | 2.0B | 2.1B | 1.8B | 1.8B |
| Debt/Equity | 0.39 | 0.35 | 0.31 | 0.29 | 0.96 | 1.36 | 0.66 | 0.95 | 1.23 | 1.16 | 1.30 | 1.47 | 1.74 |
| Interest Coverage | 11.0 | 12.0 | 17.4 | 12.5 | 7.7 | 6.2 | 8.0 | 12.3 | 9.7 | 6.5 | 2.5 | -0.4 | -0.4 |
| Equity | 1.2B | 1.3B | 1.4B | 1.5B | 1.6B | 1.3B | 1.5B | 1.9B | 2.0B | 2.1B | 1.9B | 1.6B | 1.6B |
| Total Assets | 3.1B | 3.2B | 3.3B | 3.4B | 4.3B | 3.6B | 3.8B | 5.4B | 6.3B | 6.2B | 5.7B | 5.3B | 5.5B |
| Total Liabilities | 2.0B | 1.9B | 1.8B | 1.9B | 2.7B | 2.3B | 2.3B | 3.5B | 4.3B | 4.1B | 3.8B | 3.7B | 711M |
| Intangibles | 46M | 55M | 160M | 149M | 586M | 584M | 552M | 1.1B | 997M | 978M | 918M | 855M | 843M |
| Retained Earnings | 1.5B | 1.7B | 1.9B | 2.0B | 2.1B | 1.9B | 2.2B | 2.7B | 3.3B | 3.6B | 3.6B | 3.4B | 3.4B |
| Working Capital | 1.1B | 896M | 724M | 812M | 624M | 581M | 591M | 682M | 1.2B | 758M | 834M | 635M | 624M |
| Current Assets | 2.0B | 1.8B | 1.7B | 1.8B | 1.9B | 1.5B | 1.7B | 2.1B | 2.7B | 2.5B | 2.1B | 2.1B | 2.3B |
| Current Liabilities | 900M | 908M | 965M | 1.0B | 1.3B | 944M | 1.1B | 1.4B | 1.5B | 1.8B | 1.3B | 1.4B | 1.7B |
| Per Share Data | |||||||||||||
| EPS | 2.58 | 2.56 | 3.00 | 1.62 | 3.01 | -1.53 | 4.68 | 7.57 | 9.00 | 5.96 | 1.93 | -2.08 | -2.10 |
| Owner EPS | 1.64 | 2.47 | 3.43 | 3.29 | 2.23 | 3.25 | 7.76 | 4.67 | 4.43 | 6.21 | 1.77 | 3.50 | 2.87 |
| Book Value | 12.30 | 13.59 | 15.65 | 16.41 | 17.96 | 15.19 | 18.96 | 24.42 | 27.15 | 29.59 | 28.07 | 24.63 | 24.63 |
| Cash Flow/Share | 2.61 | 3.50 | 4.73 | 4.43 | 3.82 | 5.07 | 10.02 | 7.32 | 7.79 | 10.40 | 6.40 | 8.52 | 2.47 |
| Dividends/Share | 0.45 | 0.53 | 0.62 | 0.69 | 0.78 | 0.87 | 0.99 | 1.28 | 1.46 | 1.60 | 1.68 | 1.72 | 1.74 |
| Shares Out. | 95.2M | 94.3M | 92.0M | 90.4M | 88.1M | 85.6M | 79.6M | 78.4M | 75.2M | 70.5M | 67.4M | 66.0M | 65.0M |
| Valuation | |||||||||||||
| P/E Ratio | 16.4 | 16.3 | 15.5 | 29.5 | 13.4 | N/A | 15.5 | 11.8 | 7.2 | 15.6 | 32.4 | N/A | -38.0 |
| P/FCF | 32.6 | 18.2 | 17.7 | 19.4 | 22.6 | 22.9 | 9.4 | 22.9 | 24.7 | 14.8 | 16.0 | 12.6 | 15.3 |
| EV/EBIT | 10.0 | 9.2 | 8.0 | 11.7 | 12.6 | 12.2 | 10.5 | 10.0 | 6.6 | 11.6 | 20.0 | N/A | N/A |
| Price/Book | 3.4 | 3.1 | 3.0 | 2.9 | 2.2 | 3.5 | 3.8 | 3.7 | 2.4 | 3.2 | 2.2 | 3.1 | 3.2 |
| Price/Sales | 0.9 | 1.1 | 0.8 | 1.2 | 1.1 | 0.9 | 1.0 | 1.2 | 0.8 | 0.8 | 1.0 | 0.7 | 0.9 |
| FCF Yield | 3.1% | 5.5% | 5.6% | 5.1% | 4.4% | 4.4% | 10.7% | 4.4% | 4.1% | 6.8% | 6.3% | 7.9% | 6.5% |
| Market Cap | 4.0B | 3.9B | 4.3B | 4.3B | 3.5B | 4.6B | 5.8B | 7.0B | 4.9B | 6.6B | 4.2B | 5.0B | 5.2B |
| Avg. Price | 36.11 | 43.27 | 39.63 | 48.61 | 52.19 | 44.80 | 52.91 | 88.30 | 72.01 | 76.30 | 77.98 | 59.54 | 79.92 |
| Year-End Price | 42.26 | 41.77 | 46.46 | 47.79 | 40.21 | 53.87 | 72.38 | 89.65 | 64.83 | 93.25 | 62.60 | 75.71 | 79.92 |
BRUNSWICK CORP passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 13.1x vs a median of 18.6x. The company's 5-year average ROIC is 14.7% with a gross margin of 27.1%. Total shareholder yield (dividends + buybacks) is 3.5%. At current prices, the estimated annualized return to fair value is +9.9%.
BRUNSWICK CORP (BC) has a debt-to-equity ratio of 1.47. This indicates moderate leverage.
BRUNSWICK CORP (BC) reported earnings per share (EPS) of $-2.08 in its most recent fiscal year.
BRUNSWICK CORP (BC) has a return on equity (ROE) of -7.8%. A negative ROE may indicate losses or negative equity.
BRUNSWICK CORP (BC) has a 5-year average gross margin of 27.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for BRUNSWICK CORP (BC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BRUNSWICK CORP (BC) has a book value per share of $24.63, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects a flat to slightly up U.S. retail boat market in 2026, supported by falling interest rates, improved dealer sentiment, and low dealer pipelines that should drive wholesale ordering aligned with retail demand. The company anticipates continued market share gains in propulsion and premium boat categories, with benefits from new product launches including Simrad NSO 4, B&G Zeus SRX, and Lowrance ActiveTarget 2 XL, while tariff mitigation strategies are expected to continue offsetting a portion of incremental tariff costs. Brunswick plans to drive operational efficiencies through supply chain improvements, production line consolidation, and facility rationalization, with anticipated run-rate savings exceeding $10 million annually upon completion of the boat business footprint transition in mid-2026. The company remains committed to debt reduction targeting net leverage below 2.0x by year-end 2026 while maintaining investments in product innovation, AI, autonomy, connectivity, electrification, and shared-access technologies.
Based on recent SEC filings and earnings calls, BRUNSWICK CORP (BC) has provided the following forward guidance: Revenue: $5.6–$5.8 billion (FY2026); Adjusted Operating Margin: 7.5%–8% (FY2026); Adjusted EPS: $3.80–$4.40 (FY2026); Adjusted EPS: $4.00–$4.50 (FY2026); Free Cash Flow: In excess of $350 million (FY2026), plus 2 additional metrics.
Adjusted EPS (FY2026): “The result is materially unchanged guidance on the sales, margin, and free cash flow lines, but an increase to adjusted EPS guidance to $4-$4.50, reflecting the lower full-year expected incremental net tariff impacts I just discussed, as well as the first quarter overdrive, while also factoring in some cautiousness given the current dynamic macroeconomic environment.”
Free Cash Flow (FY2026): “We continue to expect strong free cash flow in excess of $350 million, representing at least 125% free cash flow conversion, as benefits from earnings growth and continued net working capital management help offset the over $100 million cash impact of the reinstatement of variable compensation earned in 2025 and paid in the first half of 2026.”
Incremental Net Tariff Impact (FY2026): “import tariffs anticipated to be in effect for the full year of 2026 versus a partial year in 2025, we expect to incur further incremental tariff costs of approximately $35-$45 million in 2026, net of continuing mitigation actions.”
Debt Retirement (FY2026): “We plan to generate approximately $50 million of working capital as we drive continued inventory and balance sheet improvement, even with anticipated stronger production. Finally, as Dave mentioned earlier, we anticipate retiring no less than $160 million of debt throughout the year, resulting in a total of $400 million of debt retirement between 2025 and 2026, which will leave us with net debt leverage of 2.5x or lower by the end of the year.”