Boise Cascade Company (BCC) 10-Year Financial Performance & Capital Metrics

BCC • • Industrial / General

Basic MaterialsConstruction MaterialsBuilding Materials DistributionWood Products & Distribution

AboutBoise Cascade Company manufactures wood products and distributes building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine lumber products. This segment's products are used in new residential construction, residential repair-and-remodeling markets, light commercial construction, and industrial applications. It sells its products to wholesalers, home improvement centers, retail lumberyards, and industrial converters. The Building Materials Distribution segment distributes a line of building materials, including oriented strand boards, plywood, and lumber; general line items, such as siding, composite decking, doors, metal products, insulation, and roofing; and engineered wood products. This segment sells its products to dealers, home improvement centers, and specialty distributors. The company was founded in 2004 and is headquartered in Boise, Idaho.Show more

Revenue $6.72B -1.7%
EBITDA $637M -16.1%
Net Income $376M -22.2%
EPS (Diluted) 9.57 -21.0%
Gross Margin 19.79% -5.3%
EBITDA Margin 9.48% -14.7%
Operating Margin 7.29% -20.2%
Net Margin 5.6% -20.9%
ROE 17.32% -23.9%
ROIC 19.71% -29.3%
Debt/Equity 0.24 -0.5%
Interest Coverage 20.36 -16.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 30.1%
✓Strong 5Y profit CAGR of 36.0%
✓Efficient asset utilization: 2.0x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.53%

5Y7.69%

3Y-5.33%

TTM-4.25%

Profit (Net Income) CAGR

10Y16.75%

5Y35.99%

3Y-19.16%

TTM-52.34%

EPS CAGR

10Y16.77%

5Y35.96%

3Y-18.94%

TTM-50.49%

ROCE

10Y Avg21.86%

5Y Avg34.36%

3Y Avg29.93%

Latest17.29%

Peer Comparison

Wood Products & Distribution

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCCBoise Cascade Company	3.2B	86.27	9.01	-1.67%	2.96%	9%	6.53%	0.24

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.63B	3.91B	4.43B	5B	4.64B	5.47B	7.93B	8.39B	6.84B	6.72B
Revenue Growth %	0.02%	0.08%	0.13%	0.13%	-0.07%	0.18%	0.45%	0.06%	-0.18%	-0.02%
Cost of Goods Sold+	3.15B	3.4B	3.82B	4.31B	3.97B	4.54B	6.3B	6.47B	5.41B	5.39B
COGS % of Revenue	0.87%	0.87%	0.86%	0.86%	0.85%	0.83%	0.79%	0.77%	0.79%	0.8%
Gross Profit+	479.89M	512.78M	612.33M	687.7M	677.63M	938.79M	1.63B	1.91B	1.43B	1.33B
Gross Margin %	0.13%	0.13%	0.14%	0.14%	0.15%	0.17%	0.21%	0.23%	0.21%	0.2%
Gross Profit Growth %	-0.06%	0.07%	0.19%	0.12%	-0.01%	0.39%	0.73%	0.18%	-0.25%	-0.07%
Operating Expenses+	376.71M	433.2M	471.18M	602.34M	541.17M	603.76M	654.23M	756.92M	804.55M	840.65M
OpEx % of Revenue	0.1%	0.11%	0.11%	0.12%	0.12%	0.11%	0.08%	0.09%	0.12%	0.13%
Selling, General & Admin	322.73M	361.38M	390.42M	456.95M	464.29M	514.37M	574.32M	657.29M	674.1M	697.39M
SG&A % of Revenue	0.09%	0.09%	0.09%	0.09%	0.1%	0.09%	0.07%	0.08%	0.1%	0.1%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	53.97M	71.82M	80.76M	-25M	76.88M	89.39M	79.91M	99.62M	130.45M	143.26M
Operating Income+	103.19M	79.58M	141.15M	72.04M	136.46M	335.03M	971.8M	1.16B	624.39M	490.04M
Operating Margin %	0.03%	0.02%	0.03%	0.01%	0.03%	0.06%	0.12%	0.14%	0.09%	0.07%
Operating Income Growth %	-0.29%	-0.23%	0.77%	-0.49%	0.89%	1.46%	1.9%	0.19%	-0.46%	-0.22%
EBITDA+	160.39M	152.43M	221.53M	218.88M	218.84M	432.16M	1.05B	1.26B	759.8M	637.44M
EBITDA Margin %	0.04%	0.04%	0.05%	0.04%	0.05%	0.08%	0.13%	0.15%	0.11%	0.09%
EBITDA Growth %	-0.19%	-0.05%	0.45%	-0.01%	-0%	0.97%	1.44%	0.2%	-0.4%	-0.16%
D&A (Non-Cash Add-back)	57.2M	72.85M	80.38M	146.84M	82.38M	97.13M	82.49M	103.88M	135.41M	147.4M
EBIT	103.21M	69.99M	142.96M	48.3M	134.28M	312.53M	973.66M	1.17B	670.54M	525.83M
Net Interest Income+	-22.21M	-26.3M	-24.82M	-24.54M	-23.24M	-25.22M	-24.61M	-13.15M	22.61M	15.07M
Interest Income	323K	390K	547K	1.65M	2.81M	999K	195K	12.26M	48.11M	39.14M
Interest Expense	22.53M	26.69M	25.37M	26.19M	26.05M	26.22M	24.81M	25.41M	25.5M	24.07M
Other Income/Expense	-22.51M	-36.28M	-23.82M	-49.94M	-28.23M	-48.72M	-22.95M	-11.47M	20.66M	11.72M
Pretax Income+	80.68M	43.3M	117.59M	22.1M	108.23M	286.31M	948.85M	1.15B	645.05M	501.76M
Pretax Margin %	0.02%	0.01%	0.03%	0%	0.02%	0.05%	0.12%	0.14%	0.09%	0.07%
Income Tax+	28.5M	5.05M	34.63M	1.63M	27.31M	111.33M	236.37M	288.72M	161.39M	125.41M
Effective Tax Rate %	0.65%	0.88%	0.71%	0.93%	0.75%	0.61%	0.75%	0.75%	0.75%	0.75%
Net Income+	52.18M	38.25M	82.96M	20.48M	80.92M	174.98M	712.49M	857.66M	483.66M	376.35M
Net Margin %	0.01%	0.01%	0.02%	0%	0.02%	0.03%	0.09%	0.1%	0.07%	0.06%
Net Income Growth %	-0.35%	-0.27%	1.17%	-0.75%	2.95%	1.16%	3.07%	0.2%	-0.44%	-0.22%
Net Income (Continuing)	52.18M	38.25M	82.96M	20.48M	80.92M	174.98M	712.49M	857.66M	483.66M	376.35M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.33	0.98	2.12	0.52	2.06	4.44	17.97	21.56	12.12	9.57
EPS Growth %	-0.34%	-0.26%	1.16%	-0.75%	2.96%	1.16%	3.05%	0.2%	-0.44%	-0.21%
EPS (Basic)	1.33	0.99	2.15	0.53	2.07	4.45	18.07	21.70	12.20	9.63
Diluted Shares Outstanding	39.35M	38.92M	39.07M	39.39M	39.24M	39.43M	39.65M	39.77M	39.9M	39.32M
Basic Shares Outstanding	39.24M	38.76M	38.62M	38.93M	39.04M	39.28M	39.42M	39.53M	39.65M	39.09M
Dividend Payout Ratio	-	-	0.03%	2.47%	0.67%	0.45%	0.3%	0.19%	0.72%	0.61%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	785.57M	760.46M	932.57M	985.78M	1.02B	1.31B	1.89B	2.06B	2.06B	1.89B
Cash & Short-Term Investments	184.5M	103.98M	177.14M	191.67M	285.24M	405.38M	748.91M	998.34M	949.57M	713.26M
Cash Only	184.5M	103.98M	177.14M	191.67M	285.24M	405.38M	748.91M	998.34M	949.57M	713.26M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	199.06M	210.65M	256.18M	229.24M	231.65M	391.13M	462.23M	320.28M	373.7M	344.76M
Days Sales Outstanding	20	19.66	21.1	16.75	18.21	26.08	21.29	13.94	19.95	18.71
Inventory	384.86M	433.45M	476.67M	533.05M	497.6M	503.48M	660.67M	697.55M	712.37M	803.3M
Days Inventory Outstanding	44.54	46.55	45.55	45.17	45.8	40.51	38.28	39.34	48.07	54.36
Other Current Assets	0	0	0	0	8.29M	8.86M	0	0	21.17M	24.75M
Total Non-Current Assets+	463.04M	678.74M	674.62M	595.47M	670.59M	656.86M	686.76M	1.18B	1.4B	1.48B
Property, Plant & Equipment	402.67M	568.7M	565.79M	487.22M	562.98M	553.43M	586.96M	852.11M	1.02B	1.12B
Fixed Asset Turnover	9.02x	6.88x	7.83x	10.25x	8.25x	9.89x	13.50x	9.84x	6.71x	6.01x
Goodwill	21.82M	55.43M	55.43M	59.16M	60.38M	60.38M	60.38M	137.96M	170.25M	171.94M
Intangible Assets	10.09M	15.55M	15.07M	16.85M	17.8M	16.57M	15.35M	161.43M	190.74M	173.03M
Long-Term Investments	15.85M	14.9M	13.5M	12.57M	800K	0	0	0	0	0
Other Non-Current Assets	11.7M	15.31M	15.76M	11.46M	20.68M	19.02M	17.48M	18.85M	16.48M	15.75M
Total Assets+	1.25B	1.44B	1.61B	1.58B	1.69B	1.97B	2.57B	3.24B	3.46B	3.37B
Asset Turnover	2.91x	2.72x	2.76x	3.16x	2.74x	2.79x	3.08x	2.59x	1.98x	2.00x
Asset Growth %	0.02%	0.15%	0.12%	-0.02%	0.07%	0.16%	0.31%	0.26%	0.07%	-0.03%
Total Current Liabilities+	258.65M	312.86M	381.56M	369.82M	384.99M	524M	640.75M	545.83M	594.12M	564.02M
Accounts Payable	160.47M	195.91M	234.79M	211.66M	224.55M	308.85M	334.99M	269.79M	310.18M	297.68M
Days Payables Outstanding	18.57	21.04	22.44	17.93	20.67	24.85	19.41	15.21	20.93	20.14
Short-Term Debt	0	0	0	0	10.46M	11.48M	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	54.71M	0	0	0	66.03M	77.17M	128.52M	142.46M	149.56M	127.42M
Current Ratio	3.04x	2.43x	2.44x	2.67x	2.66x	2.50x	2.94x	3.78x	3.46x	3.34x
Quick Ratio	1.55x	1.05x	1.19x	1.22x	1.36x	1.54x	1.91x	2.50x	2.26x	1.92x
Cash Conversion Cycle	45.97	45.17	44.21	43.98	43.34	41.74	40.15	38.06	47.09	52.93
Total Non-Current Liabilities+	455.29M	546.33M	551.08M	538.83M	607.03M	590.92M	579.27M	636.71M	668.87M	654.09M
Long-Term Debt	344.59M	437.63M	438.31M	439.43M	440.54M	443.79M	444.63M	444.39M	445.28M	446.17M
Capital Lease Obligations	0	0	0	21.92M	81.45M	87.61M	87.16M	78.69M	84.51M	70.06M
Deferred Tax Liabilities	64.81M	6.34M	16.45M	19.22M	26.69M	18.26M	3.64M	63.45M	82.01M	78.85M
Other Non-Current Liabilities	110.7M	102.36M	96.32M	58.27M	58.34M	41.25M	43.84M	50.17M	57.06M	59.02M
Total Liabilities	713.94M	859.19M	932.64M	908.66M	992.02M	1.11B	1.22B	1.18B	1.26B	1.22B
Total Debt+	344.59M	437.63M	438.31M	439.43M	532.45M	542.88M	531.79M	523.08M	529.79M	516.22M
Net Debt	160.09M	333.65M	261.17M	247.76M	247.22M	137.5M	-217.12M	-475.26M	-419.79M	-197.04M
Debt / Equity	0.64x	0.75x	0.65x	0.65x	0.76x	0.64x	0.39x	0.25x	0.24x	0.24x
Debt / EBITDA	2.15x	2.87x	1.98x	2.01x	2.43x	1.26x	0.50x	0.41x	0.70x	0.81x
Net Debt / EBITDA	1.00x	2.19x	1.18x	1.13x	1.13x	0.32x	-0.21x	-0.38x	-0.55x	-0.31x
Interest Coverage	4.58x	2.98x	5.56x	2.75x	5.24x	12.78x	39.18x	45.56x	24.49x	20.36x
Total Equity+	534.67M	580M	674.55M	672.59M	701.33M	850.8M	1.35B	2.06B	2.2B	2.15B
Equity Growth %	0.09%	0.08%	0.16%	-0%	0.04%	0.21%	0.59%	0.52%	0.07%	-0.02%
Book Value per Share	13.59	14.90	17.26	17.08	17.87	21.58	34.12	51.74	55.03	54.71
Total Shareholders' Equity	534.67M	580M	674.55M	672.59M	701.33M	850.8M	1.35B	2.06B	2.2B	2.15B
Common Stock	434K	435K	437K	441K	444K	446K	447K	448K	450K	451K
Retained Earnings	242.9M	281.15M	361.24M	330.06M	356.7M	452.33M	948.88M	1.65B	1.78B	1.93B
Treasury Stock	-123.71M	-133.98M	-133.98M	-138.91M	-138.91M	-138.91M	-138.91M	-138.91M	-145.34M	-341.97M
Accumulated OCI	-93.02M	-83.01M	-76.7M	-47.65M	-50.25M	-1.08M	-1.05M	-520K	-517K	-460K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	80.33M	151.91M	151.57M	163.61M	245.65M	294.52M	666.98M	1.04B	687.46M	438.32M
Operating CF Margin %	0.02%	0.04%	0.03%	0.03%	0.05%	0.05%	0.08%	0.12%	0.1%	0.07%
Operating CF Growth %	-0.21%	0.89%	-0%	0.08%	0.5%	0.2%	1.26%	0.56%	-0.34%	-0.36%
Net Income	52.18M	38.25M	82.96M	20.48M	80.92M	174.98M	712.49M	857.66M	483.66M	376.35M
Depreciation & Amortization	57.2M	74.93M	82.32M	148.94M	82.38M	97.13M	82.49M	103.88M	135.41M	147.4M
Stock-Based Compensation	5.83M	8.18M	9.73M	8.83M	7.97M	7.82M	7.91M	11.87M	15.41M	15.49M
Deferred Taxes	30.88M	-7.82M	8.12M	-7.96M	9.03M	27.5M	-13.7M	59.67M	-180K	-2.42M
Other Non-Cash Items	-60.43M	19.82M	497K	39.18M	-1.46M	13.81M	-2.91M	-2.27M	56K	1.81M
Working Capital Changes	-5.33M	18.55M	-32.05M	-45.85M	66.8M	-26.73M	-119.29M	10.42M	53.1M	-100.31M
Change in Receivables	-18.18M	-1.12M	-41.78M	-583.08M	2.16M	-159.91M	-71.19M	158.07M	-35.02M	31.07M
Change in Inventory	9.6M	-30.76M	-43.22M	-64.19M	40.18M	-6.25M	-158.47M	-13.9M	22.29M	-89.27M
Change in Payables	6.82M	45.65M	68.12M	-14.53M	5.21M	131.54M	123.67M	-100.35M	37.15M	-35.59M
Cash from Investing+	-84.39M	-298.84M	-73.21M	-89.26M	-94.06M	-78.72M	-105.59M	-625.46M	-375.55M	-237.82M
Capital Expenditures	-87.53M	-83.58M	-75.45M	-79.99M	-82.72M	-79.43M	-106.52M	-114.12M	-215.44M	0
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.13M	644K	2.24M	16.21M	4.33M	713K	932K	3.9M	2.66M	-227.6M
Cash from Financing+	25.01M	66.41M	-5.19M	-59.82M	-58.02M	-95.66M	-217.87M	-166.33M	-360.68M	-436.81M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-2.7M	-50.62M	-53.95M	-79.19M	-213.68M	-159.56M	-346.49M	-228.81M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.28M	-7.05M	-2.49M	-5.69M	-4.06M	-10.69M	-4.19M	-6.76M	-7.76M	-13.1M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-7.2M	68.32M	76.12M	83.62M	162.93M	215.09M	560.47M	927.1M	472.02M	208.75M
FCF Margin %	-0%	0.02%	0.02%	0.02%	0.04%	0.04%	0.07%	0.11%	0.07%	0.03%
FCF Growth %	-1.18%	10.5%	0.11%	0.1%	0.95%	0.32%	1.61%	0.65%	-0.49%	-0.56%
FCF per Share	-0.18	1.76	1.95	2.12	4.15	5.45	14.14	23.31	11.83	5.31
FCF Conversion (FCF/Net Income)	1.54x	3.97x	1.83x	7.99x	3.04x	1.68x	0.94x	1.21x	1.42x	1.16x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.16%	6.86%	13.22%	3.04%	11.78%	22.55%	64.67%	50.29%	22.74%	17.32%
Return on Invested Capital (ROIC)	11.68%	7.42%	11.45%	5.82%	10.95%	25.95%	68.64%	63.89%	27.89%	19.71%
Gross Margin	13.21%	13.11%	13.82%	13.77%	14.59%	17.15%	20.51%	22.83%	20.9%	19.79%
Net Margin	1.44%	0.98%	1.87%	0.41%	1.74%	3.2%	8.99%	10.23%	7.07%	5.6%
Debt / Equity	0.64x	0.75x	0.65x	0.65x	0.76x	0.64x	0.39x	0.25x	0.24x	0.24x
Interest Coverage	4.58x	2.98x	5.56x	2.75x	5.24x	12.78x	39.18x	45.56x	24.49x	20.36x
FCF Conversion	1.54x	3.97x	1.83x	7.99x	3.04x	1.68x	0.94x	1.21x	1.42x	1.16x
Revenue Growth	1.67%	7.65%	13.31%	12.71%	-7.04%	17.91%	44.77%	5.82%	-18.47%	-1.67%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Building Materials Distribution	-	-	-	4.29B	4.14B	4.95B	7.17B	7.64B	6.18B	6.17B
Building Materials Distribution Growth	-	-	-	-	-3.50%	19.68%	44.87%	6.54%	-19.17%	-0.20%
Wood Products	-	-	-	707.7M	505.7M	522.8M	752M	743.7M	1.93B	1.83B
Wood Products Growth	-	-	-	-	-28.54%	3.38%	43.84%	-1.10%	159.86%	-5.19%
Wood Products and Building Materials Distribution	-	3.91B	4.43B	5B	4.64B	5.47B	-	-	-	-
Wood Products and Building Materials Distribution Growth	-	-	13.33%	12.71%	-7.04%	17.90%	-	-	-	-
Corporate	-	-	-	-	-	-	-	-	-	-
Corporate Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Non-US	-	-	94M	96M	76M	71M	128M	142M	99M	99M
Non-US Growth	-	-	-	2.13%	-20.83%	-6.58%	80.28%	10.94%	-30.28%	0.00%

Frequently Asked Questions

Valuation & Price

Boise Cascade Company (BCC) has a price-to-earnings (P/E) ratio of 9.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Boise Cascade Company (BCC) reported $6.51B in revenue for fiscal year 2024. This represents a 190% increase from $2.25B in 2011.

Boise Cascade Company (BCC) saw revenue decline by 1.7% over the past year.

Yes, Boise Cascade Company (BCC) is profitable, generating $193.0M in net income for fiscal year 2024 (5.6% net margin).

Dividend & Returns

Yes, Boise Cascade Company (BCC) pays a dividend with a yield of 6.75%. This makes it attractive for income-focused investors.

Boise Cascade Company (BCC) has a return on equity (ROE) of 17.3%. This is reasonable for most industries.

Boise Cascade Company (BCC) generated $15.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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