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Griffon NYSE:GFF Stock Report

Last Price


Market Cap







29 Sep, 2022


Company Financials +
GFF fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance5/6
Financial Health3/6

GFF Stock Overview

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally.

Griffon Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Griffon
Historical stock prices
Current Share PriceUS$29.39
52 Week HighUS$34.92
52 Week LowUS$17.56
1 Month Change-9.07%
3 Month Change2.30%
1 Year Change19.47%
3 Year Change45.21%
5 Year Change30.91%
Change since IPO1,624.21%

Recent News & Updates

Aug 15
What Does Griffon Corporation's (NYSE:GFF) Share Price Indicate?

What Does Griffon Corporation's (NYSE:GFF) Share Price Indicate?

Griffon Corporation ( NYSE:GFF ), is not the largest company out there, but it saw a significant share price rise of...

Aug 03

Endings Bring New Beginnings For Griffon Corporation

Griffon invests, divests, adds a new director to the board, and declares to maximise shareholder value by all means possible. Strong Q3 2022 results, with adjusted EBITDA from continuing operations increasing by 124%. Cautious of the company's unspecified future strategic decisions; subsidiaries are prone to be impacted by uncertainty in the economy and increased supply chain and labour cost. A holding company must invest and divest at the right time. Griffon Corporation (GFF) is a long-time holding company with a varying success rate over its long 54-year performance on the NYSE. Recently, dissatisfaction with the longstanding board of directors and management's decision-making ability has been vocalised. Voss Capital, an activist investor, nominated and earned a spot on the board through a proxy contest in February 2022 by a landslide vote, of which 80% were non-insider shares. This catalyst for change has created uncertain but exciting times. The new independent board member aims to improve shareholder value through various strategic alternatives. A small-cap stock at a $1.619 billion market cap, a strong performance in Q3 2022, an upward trend in stock price over the last six months, various analysts recommending the stock as purchase-worthy, and a high 1-year price target estimate 47.95% above the current stock price. There are indeed reasons to believe there is upside potential for GFF. Although unsure of the exact strategic changes, wary of increased supply chain and labour costs across subsidiaries, and cautious of the industry's sensitivity to economic market uncertainty, investors may still want to take a bullish stance on this seemingly undervalued company. Introduction GFF, founded by businessman Helmuth W. Waldorf in 1959, is a holding company headquartered in New York City and trading on the NYSE since 1961. It operates by acquiring and developing diverse and wholly owned subsidiaries in various sectors. The focus areas have slowly changed over the years, but the leading sectors have been conglomerates, building products, aerospace, defense telecommunications, garage doors, and plastics. Although defense, telecommunications, and plastics previously grew the company, today, this is not the case. We saw the plastics section sold off in 2018, and most recently, its 60-year established telephonic subsidiary was discontinued and sold to TTM for $330 million in cash. It employs just over 4000 employees worldwide. Residential, Industrial and Commercial Products (Griffon Presentation 2021) The company currently has two principal subsidiaries: Firstly, the Consumer and Professional Products ((CPP)) division is a top manufacturer and supplier of consumer tools, such as residential fans, storage, and products connected to indoor and outdoor lifestyle, and professional devices, such as industrial and commercial fans and other organizational products across North America. It has a portfolio of brands, including AMES, Hunter, True Temper, and ClosetMaid. Secondly, there is the Home and Building Products ((HBP)) division that Clopay Corporation operates, founded in 1964, which focuses on garage doors and rolling steel doors for residential and commercial purposes. Home retail centres and dealers sell the products across North America. The portfolio of brands includes Clopay, Ideal, Holmes, and CornellCookson, acquired in 2018 specifically for rolling steel doors and grille products. Revenue Divisions at Griffon (Griffon Presentation 2021) GFF has had a long-term and close-knit set of directors and managers. Executives receive well above industry average salaries and bonuses, especially compared to peer companies, as seen below in the table comparing CEO compensation across many different organisations. CEO Compensation Across Peer Group (Voss Capital Presentation 2021) There are signs of change, with a more independent board member pushing for shareholder value and willing to make significant strategic moves to achieve these. Financials and Valuation Since 2017 there has been a noteworthy strategic revival, with investors seeing yearly earnings per share grow by 65%. The company has a long-term and stable - although low - dividend payment, of which the most recent fiscal year was $0.36, an increase of 16% per annum since 2012. This year, pushed on by the current board changes, GFF is paying out a special dividend of $2 and has completed a debt prepayment of $300 million this past quarter. To maximise shareholder value by all means possible. We have seen significant changes, including completing the sale of its 61-year-old 'Telephonics' business. The sale of Telephonics to TTM Technologies (TTMI) was for $330 million in cash in June 2022, improving the company's cash flow. Furthermore, the company acquired Hunter Fan Company for $845 million, which was higher than 35% of its enterprise value at year-end 2021. The action was criticised as a poor management decision by Voss Capital and built momentum for a proxy vote in February 2022. Nonetheless, the Q3 2022 results are promising for the changes that have taken place, and the management team is confident for the rest of the year, announcing that a full year revenue of - at minimum - $475 million EBITDA before unallocated costs is realistic. Furthermore, management believes leverage will be under 3.0 times net debt to EBITDA. GFF increased its revenue by 31% compared to the prior year's third quarter to $768.2 million. The acquisition of Hunter added $105.8 million to this total. Income from continuing operations was $0.98 per share, which was 350% of that of the prior year. Adjusted EBITDA of continuing operations increased by 124% to $134.8 million YoY. If we have a look at the results per segment: 1. Consumer and Professional products ((CPP)) CPP revenue is the second largest division with $362.6 million, an increase of 12% YoY. The most significant growth is from the Hunter acquisition at $105.8 million. Adjusted EBITDA decreased by 3% to $28.4 million. If we remove Hunter, EBITDA decreased by 61%. The reason is the reduction in sales volume and increased supply chain, material, and labour costs. However, the company has benefited from the mix of products and higher prices. Mention-worthy is that Q3 2022 saw $6.5 million in costs related mainly to Hunter because of COVID and global supply chain disruptions. 2. Home and Building Products ((HBP)) HBP is the largest division by revenue and increased by 56% to $405.5 million. The reason for this is the increase in pricing and the mix of residential and commercial products. This division increased; however, supply chain disruption and labour difficulties offset the benefits. Q3 2022 HBP Adjusted EBITDA increased you by 184% to $119.8 million. As said above, EBITDA again benefited from the increased revenue but was negatively impacted by an increase in material, labor and transportation expenses. We can see in the table below that GFF's net income has been on an upward path since December 2021, in line with the company's forward-moving strategic actions. Earnings per share have also beat expectations for the last three quarters.

Jul 31
Griffon (NYSE:GFF) Has Announced A Dividend Of $0.09

Griffon (NYSE:GFF) Has Announced A Dividend Of $0.09

Griffon Corporation ( NYSE:GFF ) has announced that it will pay a dividend of $0.09 per share on the 15th of September...

Shareholder Returns

GFFUS BuildingUS Market

Return vs Industry: GFF exceeded the US Building industry which returned -23.2% over the past year.

Return vs Market: GFF exceeded the US Market which returned -20.3% over the past year.

Price Volatility

Is GFF's price volatile compared to industry and market?
GFF volatility
GFF Average Weekly Movement6.4%
Building Industry Average Movement5.3%
Market Average Movement6.9%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.8%

Stable Share Price: GFF is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: GFF's weekly volatility (6%) has been stable over the past year.

About the Company

19596,700Ron Kramer

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use. The company’s Home & Building Products segment manufactures and markets residential and commercial garage doors for professional dealers and various home center retail chains; and rolling steel door and grille products for commercial, industrial, institutional, and retail uses.

Griffon Fundamentals Summary

How do Griffon's earnings and revenue compare to its market cap?
GFF fundamental statistics
Market CapUS$1.62b
Earnings (TTM)US$141.21m
Revenue (TTM)US$2.71b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GFF income statement (TTM)
Cost of RevenueUS$1.86b
Gross ProfitUS$851.52m
Other ExpensesUS$710.32m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)2.56
Gross Margin31.42%
Net Profit Margin5.21%
Debt/Equity Ratio173.6%

How did GFF perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is GFF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GFF?

Other financial metrics that can be useful for relative valuation.

GFF key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA8.9x
PEG Ratio1.2x

Price to Earnings Ratio vs Peers

How does GFF's PE Ratio compare to its peers?

GFF PE Ratio vs Peers
The above table shows the PE ratio for GFF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.1x
DOOR Masonite International
JBI Janus International Group
HAYW Hayward Holdings
ROCK Gibraltar Industries
GFF Griffon

Price-To-Earnings vs Peers: GFF is good value based on its Price-To-Earnings Ratio (11.5x) compared to the peer average (13.1x).

Price to Earnings Ratio vs Industry

How does GFF's PE Ratio compare vs other companies in the US Building Industry?

Price-To-Earnings vs Industry: GFF is good value based on its Price-To-Earnings Ratio (11.5x) compared to the US Building industry average (15.1x)

Price to Earnings Ratio vs Fair Ratio

What is GFF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GFF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.5x
Fair PE Ratio18.3x

Price-To-Earnings vs Fair Ratio: GFF is good value based on its Price-To-Earnings Ratio (11.5x) compared to the estimated Fair Price-To-Earnings Ratio (18.3x).

Share Price vs Fair Value

What is the Fair Price of GFF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GFF ($29.39) is trading below our estimate of fair value ($73.27)

Significantly Below Fair Value: GFF is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is Griffon forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GFF's forecast earnings growth (9.3% per year) is above the savings rate (1.9%).

Earnings vs Market: GFF's earnings (9.3% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: GFF's earnings are forecast to grow, but not significantly.

Revenue vs Market: GFF's revenue (4.4% per year) is forecast to grow slower than the US market (7.7% per year).

High Growth Revenue: GFF's revenue (4.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if GFF's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Griffon performed over the past 5 years?

Past Performance Score


Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GFF has high quality earnings.

Growing Profit Margin: GFF's current net profit margins (5.2%) are higher than last year (3.3%).

Past Earnings Growth Analysis

Earnings Trend: GFF's earnings have grown significantly by 34.6% per year over the past 5 years.

Accelerating Growth: GFF's earnings growth over the past year (111.4%) exceeds its 5-year average (34.6% per year).

Earnings vs Industry: GFF earnings growth over the past year (111.4%) exceeded the Building industry 32.2%.

Return on Equity

High ROE: GFF's Return on Equity (15.6%) is considered low.

Discover strong past performing companies

Financial Health

How is Griffon's financial position?

Financial Health Score


Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: GFF's short term assets ($1.3B) exceed its short term liabilities ($594.6M).

Long Term Liabilities: GFF's short term assets ($1.3B) do not cover its long term liabilities ($2.0B).

Debt to Equity History and Analysis

Debt Level: GFF's net debt to equity ratio (157.5%) is considered high.

Reducing Debt: GFF's debt to equity ratio has reduced from 253% to 173.6% over the past 5 years.

Debt Coverage: GFF's debt is not well covered by operating cash flow (2.1%).

Interest Coverage: GFF's interest payments on its debt are well covered by EBIT (4x coverage).

Balance Sheet

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What is Griffon current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Griffon Dividend Yield vs Market
How does Griffon dividend yield compare to the market?
SegmentDividend Yield
Company (Griffon)1.2%
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Building)1.8%
Analyst forecast in 3 Years (Griffon)4.7%

Notable Dividend: GFF's dividend (1.22%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.64%).

High Dividend: GFF's dividend (1.22%) is low compared to the top 25% of dividend payers in the US market (4.61%).

Stability and Growth of Payments

Stable Dividend: GFF's dividends per share have been stable in the past 10 years.

Growing Dividend: GFF's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (12.7%), GFF's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: GFF is paying a dividend but the company has no free cash flows.

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Ron Kramer (64 yo)





Mr. Ronald J. Kramer, also known as Ron, serves as Independent Director of Business Development Corporation of America since October 28, 2016. He serves as Independent Director of Douglas Elliman Inc. sinc...

CEO Compensation Analysis

Ron Kramer's Compensation vs Griffon Earnings
How has Ron Kramer's remuneration changed compared to Griffon's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021n/an/a


Sep 30 2021US$20mUS$1m


Jun 30 2021n/an/a


Mar 31 2021n/an/a


Dec 31 2020n/an/a


Sep 30 2020US$16mUS$1m


Jun 30 2020n/an/a


Mar 31 2020n/an/a


Dec 31 2019n/an/a


Sep 30 2019US$12mUS$1m


Jun 30 2019n/an/a


Mar 31 2019n/an/a


Dec 31 2018n/an/a


Sep 30 2018US$14mUS$1m


Jun 30 2018n/an/a


Mar 31 2018n/an/a


Dec 31 2017n/an/a


Sep 30 2017US$12mUS$1m


Jun 30 2017n/an/a


Mar 31 2017n/an/a


Dec 31 2016n/an/a


Sep 30 2016US$9mUS$986k


Jun 30 2016n/an/a


Mar 31 2016n/an/a


Dec 31 2015n/an/a


Sep 30 2015US$6mUS$959k


Compensation vs Market: Ron's total compensation ($USD19.70M) is above average for companies of similar size in the US market ($USD5.56M).

Compensation vs Earnings: Ron's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: GFF's management team is seasoned and experienced (9.8 years average tenure).

Board Members

Experienced Board: GFF's board of directors are considered experienced (7.3 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NYSE:GFF Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
25 Aug 22SellUS$3,260,767GAMCO Investors, Inc.Company448,494US$34.16
10 Aug 22SellUS$515,686Teton Advisors, LLCCompany18,473US$32.80
26 May 22SellUS$681,886GAMCO Investors, Inc.Company218,543US$31.36
26 May 22SellUS$1,683,365Teton Advisors, LLCCompany55,000US$30.93
16 May 22SellUS$119,144Gabelli Foundation Inc, Endowment ArmCompany4,000US$29.79
10 May 22BuyUS$0GAMCO Investors, Inc.Company51,300US$23.30
09 May 22SellUS$160,147Mario GabelliIndividual7,000US$23.77
02 May 22SellUS$129,462Gabelli & Company Investment Advisers, Inc.Company6,000US$21.58
21 Apr 22BuyUS$149,659Mario GabelliIndividual8,000US$19.00
18 Apr 22BuyUS$111,529Gabelli & Company Investment Advisers, Inc.Company6,000US$18.66
22 Dec 21BuyUS$70,100Lacy JohnsonIndividual2,500US$28.04
21 Dec 21BuyUS$49,895Thomas BrosigIndividual1,922US$25.96
21 Dec 21BuyUS$151,217Louis GrabowskyIndividual5,900US$25.63
21 Dec 21BuyUS$79,200Henry AlpertIndividual3,000US$26.40
21 Dec 21BuyUS$52,820Jerome CobenIndividual2,000US$26.41
21 Dec 21BuyUS$91,840Kevin SullivanIndividual3,500US$26.24

Ownership Breakdown

What is the ownership structure of GFF?
Owner TypeNumber of SharesOwnership Percentage
General Public1,932,2543.5%
Individual Insiders4,405,2818.0%
Employee Share Scheme5,114,9419.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 78.9% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
BlackRock, Inc.
The Vanguard Group, Inc.
5,797,866$170.4m2.49%no data
Griffon Corporation Employee Stock Ownership Plan
5,114,941$150.3m0%no data
GAMCO Investors, Inc.
Dimensional Fund Advisors LP
Ronald Kramer
2,645,923$77.8m0%no data
Voss Capital, LLC
Allspring Global Investments, LLC
State Street Global Advisors, Inc.
1,831,454$53.8m-5.07%no data
Millennium Management LLC
Geode Capital Management, LLC
802,143$23.6m-6.32%no data
Robert Mehmel
756,303$22.2m0%no data
BNY Mellon Asset Management
610,134$17.9m1.6%no data
Charles Schwab Investment Management, Inc.
577,106$17.0m0.19%no data
Royce & Associates, LP
Conversant Capital LLC
Peregrine Capital Management, LLC
Northern Trust Global Investments
502,938$14.8m-5.88%no data
The Rock Creek Group, LP
Norges Bank Investment Management
443,933$13.0m0%no data
Fuller & Thaler Asset Management, Inc.
Hillcrest Asset Management, LLC.
Teton Advisors, LLC
Eaton Vance Management
304,910$9.0m74.48%no data
Westchester Capital Management, LLC

Company Information

Griffon Corporation's employee growth, exchange listings and data sources

Key Information

  • Name: Griffon Corporation
  • Ticker: GFF
  • Exchange: NYSE
  • Founded: 1959
  • Industry: Building Products
  • Sector: Capital Goods
  • Implied Market Cap: US$1.622b
  • Shares outstanding: 55.20m
  • Website:

Number of Employees


  • Griffon Corporation
  • 712 Fifth Avenue
  • 18th Floor
  • New York
  • New York
  • 10019
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GFFNYSE (New York Stock Exchange)YesCommon StockUSUSDJul 1968
GFFDB (Deutsche Boerse AG)YesCommon StockDEEURJul 1968

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Annual Earnings2021/09/30

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.