Griffon
GFFNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $104.38 Prior regular-session close from the quote source.
- $103.13–$106.33 Regular-session low and high so far today.
- 308.3K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Nov 18 projected Projected for 2026-11-18 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $65.01–$109.00 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own GFF if Clopay is a durable, channel-protected door franchise with structurally higher margins, not merely a post-pandemic pricing beneficiary carrying a levered balance sheet.
GFF price history
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Investment thesis
What must happen next
Clopay’s brand, product breadth, and dealer/channel position continue to support price and mix in residential and commercial doors, so cyclical demand softness does not force Griffon back into commodity-style margin compression.StrengtheningMateriality: High
GAAP annual gross_profit increased from $936.9 million in FY2022 to $1.058 billion in FY2025 despite lower revenue. If this holds, Griffon can create value even without strong revenue growth; if it breaks, the investment case becomes a cyclical manufacturer with limited pricing power.
Watch: Overhead Door, C.H.I. Overhead Doors, Amarr, Raynor, or private-label offerings gain dealer or builder share by discounting comparable residential garage-door products.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross_profit increased from $936.9 million in FY2022 to $1.058 billion in FY2025 despite lower revenue.
Open source ↗Replacement, remodeling, and commercial-door demand provide enough baseline need for Griffon’s door volumes to stabilize after the rate-driven housing reset.HoldingMateriality: High
GAAP annual revenue remained substantial at $2.520 billion in FY2025. Margin strength is much more valuable if revenue stabilizes; if demand keeps eroding, fixed-cost absorption and investor confidence in the franchise deteriorate.
Watch: High mortgage rates and low existing-home turnover continue to suppress garage-door replacement and remodeling activity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue remained substantial at $2.520 billion in FY2025.
Open source ↗Manufacturing discipline, overhead control, and corporate cost management must convert the stronger door gross-profit pool into operating income rather than letting labor, freight, restructuring, or holding-company costs absorb the benefit.HoldingMateriality: Medium
GAAP annual operating_income recovered from a $189.1 million loss in FY2022 to positive $206.3 million in FY2025. Owners ultimately need operating earnings and cash, not just gross margin; failure here would mean the improved franchise economics are not reaching shareholders.
Watch: Wage, benefits, freight, or steel/input-cost inflation outpaces price realization and reverses factory productivity gains.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating_income recovered from a $189.1 million loss in FY2022 to positive $206.3 million in FY2025.
Open source ↗Griffon’s capital allocation must prioritize balance-sheet resilience so the door franchise’s earnings are not diluted by leverage risk in a cyclical downturn.HoldingMateriality: Medium
GAAP liabilities declined from $2.339 billion at FY2022 year-end to $2.002 billion at FY2025 year-end. A levered balance sheet can turn a temporary housing or margin cycle into permanent equity impairment; deleveraging would increase the value of the same operating franchise.
Watch: Management funds acquisitions, dividends, or repurchases with debt before operating earnings have recovered.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP liabilities declined from $2.339 billion at FY2022 year-end to $2.002 billion at FY2025 year-end.
Open source ↗
Full investment case & evidence
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Original research
Clopay’s brand, product breadth, and dealer/channel position continue to support price and mix in residential and commercial doors, so cyclical demand softness does not force Griffon back into commodity-style margin compression. If this holds, Griffon can create value even without strong revenue growth; if it breaks, the investment case becomes a cyclical manufacturer with limited pricing power.
Replacement, remodeling, and commercial-door demand provide enough baseline need for Griffon’s door volumes to stabilize after the rate-driven housing reset. Margin strength is much more valuable if revenue stabilizes; if demand keeps eroding, fixed-cost absorption and investor confidence in the franchise deteriorate.
Manufacturing discipline, overhead control, and corporate cost management must convert the stronger door gross-profit pool into operating income rather than letting labor, freight, restructuring, or holding-company costs absorb the benefit. Owners ultimately need operating earnings and cash, not just gross margin; failure here would mean the improved franchise economics are not reaching shareholders.
Griffon’s capital allocation must prioritize balance-sheet resilience so the door franchise’s earnings are not diluted by leverage risk in a cyclical downturn. A levered balance sheet can turn a temporary housing or margin cycle into permanent equity impairment; deleveraging would increase the value of the same operating franchise.
All standing thesis claims
Original report summary
Clopay is a durable, channel-protected door franchise with structurally higher margins, not merely a post-pandemic pricing beneficiary carrying a levered balance sheet.
Bull case and bear case
Bull case and bear case for Griffon
Where the evidence on Griffon stands: Holding on the latest evidence (Nov 10, 2026). Of its 4 thesis points, 1 strengthening and 3 holding.
Bull case: what the evidence supports
Clopay’s brand, product breadth, and dealer/channel position continue to support price and mix in residential and commercial doors, so cyclical demand softness does not force Griffon back into commodity-style margin compression.
Replacement, remodeling, and commercial-door demand provide enough baseline need for Griffon’s door volumes to stabilize after the rate-driven housing reset.
Manufacturing discipline, overhead control, and corporate cost management must convert the stronger door gross-profit pool into operating income rather than letting labor, freight, restructuring, or holding-company costs absorb the benefit.
Griffon’s capital allocation must prioritize balance-sheet resilience so the door franchise’s earnings are not diluted by leverage risk in a cyclical downturn.
Bear case: what would count against it
Overhead Door, C.H.I. Overhead Doors, Amarr, Raynor, or private-label offerings gain dealer or builder share by discounting comparable residential garage-door products.
High mortgage rates and low existing-home turnover continue to suppress garage-door replacement and remodeling activity.
Wage, benefits, freight, or steel/input-cost inflation outpaces price realization and reverses factory productivity gains.
Thesis-Break Engine
Thesis-break watch · Griffon
No break has crossed Griffon’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedEntered a material definitive agreement.
Griffon filed an SEC 8-K on 2026-08-19: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
Griffon filed an SEC 8-K on 2026-08-11: Entered a material definitive agreement. It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
Griffon filed an SEC 8-K on 2026-08-10: Regulation FD disclosure. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Overhead Door, C.H.I. Overhead Doors, Amarr, Raynor, or private-label offerings gain dealer or builder share by discounting comparable residential garage-door products.
- High mortgage rates and low existing-home turnover continue to suppress garage-door replacement and remodeling activity.
- Wage, benefits, freight, or steel/input-cost inflation outpaces price realization and reverses factory productivity gains.
- Management funds acquisitions, dividends, or repurchases with debt before operating earnings have recovered.
GFF news
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Financial statements
GFF income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
GFF: quick answers
- When does Griffon (GFF) report earnings next?
- Griffon's next results are projected for November 18, 2026, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on August 5, 2026. Earnings calendar
- What is GFF's short interest?
- As of October 30, 2026, 1.4M GFF shares were sold short, 3.12% of its shares outstanding, down 1.7% from the count before. At the stock's average daily volume that is 4.3 days to cover. FINRA publishes the count twice a month. GFF short interest history
- Have members of Congress traded GFF?
- Reports made public in the last 90 days disclose 1 trade in GFF by 1 filer: 0 purchases and 1 sale. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed GFF trade