Brady Corp (NYSE: BRC) is an industrial manufacturing company that produces differentiated identification solutions and workplace safety products. It makes money by selling proprietary materials, printing and identification systems, tracking systems, and software to customers across industrial, healthcare, electronics, and government end markets. Brady reported net sales of $1,513.6 million in fiscal 2025 (ended July 31, 2025), up 12.8% from $1,341.4 million in fiscal 2024, driven by 2.6% organic growth and 10.5% from acquisitions. Gross margin was $760.8 million, or 50.3% of net sales, in fiscal 2025. The company operates in two reportable segments: Americas & Asia and Europe & Australia. Approximately 50% of sales are derived outside the United States as of fiscal 2025. Competition is fragmented, ranging from small specialty suppliers to large adhesive and electrical product companies. Brady invests heavily in internal R&D, spending $79.9 million in fiscal 2025, equal to 5.3% of net sales.

Revenue model

Transactional product sales of proprietary manufactured goods including identification labels, printing systems, tracking systems, and software. Revenue is generated across two geographic segments: Americas & Asia and Europe & Australia.

Products and services

Proprietary identification materials, printing and identification systems, tracking systems, and software. Manufacturing processes include compounding, coating, converting, printing, melt-blown operations, software development, and printer design and assembly. The company also acquired Gravotech, which contributed incremental R&D and sales in fiscal 2025.

Customers and end markets

Customers span industrial manufacturing, electronic manufacturing, healthcare, chemical, oil and gas, alternative energy, automotive, aerospace, governments, mass transit, mechanical contractors, construction, utilities, education, and leisure industries.

Value-chain role

Vertically integrated manufacturer of proprietary identification and safety products. Develops materials and systems internally and manufactures near point of sale to reduce tariff exposure.

Geographic exposure

Approximately 50% of sales derived outside the United States as of fiscal 2025. Two reportable segments: Americas & Asia (organic sales growth of 4.8% in fiscal 2025) and Europe & Australia (organic sales decline of 1.8% in fiscal 2025). Goodwill by geography as of July 31, 2025: North America $494.8 million, Europe $179.3 million, Latin America $2.9 million.

Source: SEC 10-K, filed 2025-09-04

Industry: Miscellaneous Manufacturing Industries Peers: Deluxe Corp DSS Inc Ennis Inc Shapeways Holdings, Inc. Quad/Graphics Inc