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REPORTABLE SEGMENTS
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
REPORTABLE SEGMENTS REPORTABLE SEGMENTS
Griffon conducts its operations through two reportable segments, as follows:

•Home and Building Products ("HBP") conducts its operations through Clopay Corporation ("Clopay"). Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America.  Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the Clopay, Cornell and Cookson brands.

•Consumer and Professional Products (“CPP”) is a global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid.

Information on Griffon’s reportable segments from continuing operations is as follows:
 For the Years Ended September 30,
REVENUE202520242023
Home and Building Products$1,584,182 $1,588,625 $1,588,505 
Consumer and Professional Products935,744 1,034,895 1,096,678 
Total revenue$2,519,926 $2,623,520 $2,685,183 

Griffon defines our reportable segments based on the way the Chief Operating Decision Maker ("CODM"), which is our Chief Executive Officer, manages the operations of the Company for purposes of allocating resources and assessing segment performance. The CODM evaluates performance and allocates resources based on segment adjusted EBITDA, a non-GAAP measure, defined as income before taxes, excluding interest income and expense, depreciation and amortization, strategic review charges, non-cash impairment charges, restructuring charges, gain/loss from debt extinguishment, and acquisition related expenses, as well as other items that may affect comparability, as applicable. Segment adjusted EBITDA also excludes unallocated amounts, mainly corporate overhead. Griffon believes this information is useful to its investors for the same reason.

The following table provides a reconciliation of segment adjusted EBITDA to income before taxes:
Home and Building ProductsConsumer and Professional Products
For the Years Ended September 30,For the Years Ended September 30,
202520242023202520242023
Revenue
$1,584,182 $1,588,625 $1,588,505 $935,744 $1,034,895 $1,096,678 
Adjusted costs of goods and services (1)
(819,944)(819,784)(818,020)(641,977)(747,504)(836,314)
Adjusted selling, general and administrative expenses (2)
(287,237)(282,875)(274,163)(258,148)(262,571)(263,559)
Depreciation and amortization
17,592 15,349 15,066 44,856 44,797 49,811 
Other segment items (3)
(17)(314)(512)5,070 3,015 3,727 
Segment Adjusted EBITDA (4)
$494,576 $501,001 $510,876 $85,545 $72,632 $50,343 
 For the Years Ended September 30,
 202520242023
Segment Adjusted EBITDA:   
Home and Building Products$494,576 $501,001 $510,876 
Consumer and Professional Products85,545 72,632 50,343 
Segment Adjusted EBITDA580,121 573,633 561,219 
Unallocated amounts, excluding depreciation(5)
(57,828)(60,031)(55,887)
Net interest expense(93,857)(101,652)(99,351)
Depreciation and amortization(63,014)(60,704)(65,445)
Goodwill and intangible asset impairments
(243,612)— (109,200)
Impact of retirement plan events
1,165 — — 
Gain (loss) on sale of real estate
8,279 (61)12,655 
Strategic review - retention and other(3,883)(10,594)(20,225)
Restructuring charges— (41,309)(92,468)
Debt extinguishment, net
— (1,700)(437)
Acquisition costs— (441)— 
Fair value step-up of acquired inventory sold— (491)— 
Special dividend ESOP charges— — (15,494)
Proxy expenses— — (2,685)
Income before taxes
$127,371 $296,650 $112,682 
__________________________________
(1) Adjusted costs of goods and services excludes restructuring and other costs and acquisition related expenses, and includes depreciation and amortization.
(2) Adjusted selling, general and administrative expenses excludes strategic review - retention and other expenses, special dividend ESOP charges, restructuring and other costs, and goodwill and intangible asset impairments, and includes depreciation and amortization.
(3) The Other segment items category includes rental income, foreign exchange gains/losses and other miscellaneous expenses.
(4) Segment Adjusted EBITDA includes other income and excludes depreciation, amortization and normalized items.
(5) Unallocated amounts mainly consists of corporate overhead costs maintained at the corporate level, which is not allocated to the business segments. These expenses include equity-based compensation costs, expenses relating to treasury, accounting, consulting, advisory, legal, tax and audit, insurance, financial reporting services and various administrative expenses related to the corporate headquarters.
For the Years Ended September 30,
DEPRECIATION and AMORTIZATION202520242023
Segment:   
Home and Building Products$17,592 $15,349 $15,066 
Consumer and Professional Products44,856 44,797 49,811 
Total segment depreciation and amortization62,448 60,146 64,877 
Corporate566 558 568 
Total consolidated depreciation and amortization$63,014 $60,704 $65,445 
CAPITAL EXPENDITURES   
Segment:   
Home and Building Products(1)
$30,200 $41,765 $24,065 
Consumer and Professional Products(2) (3)
17,385 26,330 39,476 
Total segment47,585 68,095 63,541 
Corporate(4)
4,850 304 63 
Total consolidated capital expenditures$52,435 $68,399 $63,604 
(1) During the year ended September 30, 2023, HBP's capital expenditures included approximately $6,000 in connection with the purchase of HBP's Mason headquarters.
(2) During the year ended September 30, 2023, CPP's capital expenditures included approximately $23,207 in connection with the purchase of CPP's Ocala, Florida manufacturing facility.
(3) During the years ended September 30, 2025, 2024 and 2023, CPP capital expenditures excludes proceeds from the sale of real estate and equipment of approximately $17,729, $13,271 and $8,900, respectively.
(4) During the year ended September 30, 2023, Corporate's capital expenditures exclude proceeds from the sale of real estate of approximately $11,800.

ASSETS
At September 30, 2025At September 30, 2024
Segment assets:  
Home and Building Products$770,072 $737,992 
Consumer and Professional Products(1)
1,164,957 1,495,489 
Total segment assets1,935,029 2,233,481 
Corporate122,607 133,408 
Total continuing assets2,057,636 2,366,889 
Other discontinued operations6,001 4,065 
Consolidated total$2,063,637 $2,370,954 
__________________________
(1) In connection with the expansion of CPP's global sourcing strategy, certain owned manufacturing locations which concluded operations have met the criteria to be classified as held for sale as of September 30, 2025. The aggregate net book value of these properties as of September 30, 2025 totaled $5,609.
The Company’s long-lived assets are concentrated primarily in the United States, which accounted for approximately 84% and 85% of the Company’s total long-lived assets as of September 30, 2025 and 2024, respectively. No foreign country accounted for more than 10% of the Company’s total long-lived assets as of September 30, 2025 and 2024.
Disaggregation of Revenue
Revenue from contracts with customers is disaggregated by end markets, segments and geographic location, as it more accurately depicts the nature and amount of the Company’s revenue.
For the Years Ended September 30,
202520242023
Residential repair and remodel(1)
$771,585 $769,691 $757,088 
Commercial 676,626 684,388 700,112 
Residential new construction(1)
135,971 134,546 131,305 
Total Home and Building Products1,584,182 1,588,625 1,588,505 
Residential repair and remodel$289,091 $352,797 $377,775 
Retail170,838 234,591 267,046 
Residential new construction55,367 57,537 51,093 
Industrial72,352 67,738 78,308 
International excluding North America348,096 322,232 322,456 
Total Consumer and Professional Products935,744 1,034,895 1,096,678 
Total Revenue$2,519,926 $2,623,520 $2,685,183 
_____________________________________
(1) The breakout between residential new construction and residential repair and remodel contains certain management assumptions, such as customer and product type.
The following table presents revenue disaggregated by geography based on the location of the Company's customer:

For the Year Ended September 30, 2025
Revenue by Geographic Area - DestinationHome and Building ProductsConsumer and Professional ProductsTotal
United States$1,523,828 $516,273 $2,040,101 
Europe— 41,768 41,768 
Canada49,458 62,573 112,031 
Australia— 289,018 289,018 
All other countries10,896 26,112 37,008 
Total Revenue$1,584,182 $935,744 $2,519,926 

For the Year Ended September 30, 2024
Revenue by Geographic Area - DestinationHome and Building ProductsConsumer and Professional ProductsTotal
United States$1,519,063 $638,782 $2,157,845 
Europe112 52,933 53,045 
Canada60,995 67,375 128,370 
Australia— 251,778 251,778 
All other countries8,455 24,027 32,482 
Total Revenue$1,588,625 $1,034,895 $2,623,520 
For the Year Ended September 30, 2023
Revenue by Geographic Area - DestinationHome and Building ProductsConsumer and Professional ProductsTotal
United States$1,515,479 $716,098 $2,231,577 
Europe18 51,041 51,059 
Canada62,897 75,477 138,374 
Australia— 231,764 231,764 
All other countries10,111 22,298 32,409 
Total Revenue$1,588,505 $1,096,678 $2,685,183 

As a percentage of segment revenue, HBP sales to The Home Depot approximated 9%, 8% and 9% in 2025, 2024 and 2023, respectively; CPP sales to The Home Depot approximated 12%, 15% and 15% in 2025, 2024 and 2023, respectively.

As a percentage of Griffon's consolidated revenue, sales to The Home Depot approximated 10%, 11% and 12% in 2025, 2024 and 2023, respectively.