Builders FirstSource, Inc. (BLDR) 10-Year Financial Performance & Capital Metrics

BLDR • • Industrial / General

IndustrialsConstructionConstruction Distribution & ServicesBuilding Materials Distributors

AboutBuilders FirstSource, Inc., together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior and exterior trims and custom products under the Synboard brand name. The company also offers gypsum, roofing, and insulation products, including wallboards, ceilings, joint treatments, and finishes; and siding, metal, and concrete products, such as vinyl, composite, and wood siding products, as well as exterior trims, other exteriors, metal studs, and cement products. In addition, it provides other building products and services, such as cabinets and hardware, as well as turn-key framing, shell construction, design assistance, and professional installation services. The company was formerly known as BSL Holdings, Inc. and changed its name to Builders FirstSource, Inc. in October 1999. Builders FirstSource, Inc. was founded in 1998 and is based in Dallas, Texas.Show more

Revenue $16.4B -4.1%
EBITDA $1.6B -41.7%
Net Income $1.08B -30.0%
EPS (Diluted) 9.06 -24.1%
Gross Margin 32.82% -6.7%
EBITDA Margin 9.73% -39.2%
Operating Margin 9.73% -23.6%
Net Margin 6.57% -27.1%
ROE 23.88% -24.9%
ROIC 14.2% -27.2%
Debt/Equity 1.01 +28.5%
Interest Coverage 7.68 -32.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 37.3%
✓Strong 5Y profit CAGR of 37.2%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.6%
✓Share count reduced 7.8% through buybacks
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y26.17%

5Y17.64%

3Y-6.23%

TTM-6.44%

Profit (Net Income) CAGR

10Y50.44%

5Y37.19%

3Y-14.51%

TTM-52.04%

EPS CAGR

10Y47.97%

5Y36.67%

3Y2.23%

TTM-48.74%

ROCE

10Y Avg21.22%

5Y Avg29.47%

3Y Avg28.94%

Latest18.29%

Peer Comparison

Building Materials Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BLDRBuilders FirstSource, Inc.	14.26B	128.96	14.23	-4.08%	3.79%	13.76%	10.46%	1.01
BXCBlueLinx Holdings Inc.	621.26M	78.99	12.76	-5.86%	0.48%	2.25%	7.25%	0.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.56B	6.37B	7.03B	7.72B	7.28B	8.56B	19.89B	22.73B	17.1B	16.4B
Revenue Growth %	1.22%	0.79%	0.1%	0.1%	-0.06%	0.18%	1.32%	0.14%	-0.25%	-0.04%
Cost of Goods Sold+	2.66B	4.77B	5.31B	5.8B	5.3B	6.34B	14.04B	14.98B	11.08B	11.02B
COGS % of Revenue	0.75%	0.75%	0.75%	0.75%	0.73%	0.74%	0.71%	0.66%	0.65%	0.67%
Gross Profit+	901.46M	1.6B	1.73B	1.92B	1.98B	2.22B	5.85B	7.74B	6.01B	5.38B
Gross Margin %	0.25%	0.25%	0.25%	0.25%	0.27%	0.26%	0.29%	0.34%	0.35%	0.33%
Gross Profit Growth %	1.53%	0.77%	0.08%	0.11%	0.03%	0.12%	1.63%	0.32%	-0.22%	-0.1%
Operating Expenses+	810.84M	1.36B	1.44B	1.55B	1.58B	1.68B	3.46B	3.97B	3.84B	3.79B
OpEx % of Revenue	0.23%	0.21%	0.21%	0.2%	0.22%	0.2%	0.17%	0.17%	0.22%	0.23%
Selling, General & Admin	788.4M	1.37B	1.44B	1.55B	1.58B	1.68B	3.46B	3.97B	3.84B	3.79B
SG&A % of Revenue	0.22%	0.21%	0.21%	0.2%	0.22%	0.2%	0.17%	0.17%	0.22%	0.23%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	90.62M	236.34M	285.1M	368.97M	392.31M	543.85M	2.39B	3.77B	2.18B	1.6B
Operating Margin %	0.03%	0.04%	0.04%	0.05%	0.05%	0.06%	0.12%	0.17%	0.13%	0.1%
Operating Income Growth %	0.81%	1.61%	0.21%	0.29%	0.06%	0.39%	3.39%	0.58%	-0.42%	-0.27%
EBITDA+	148.9M	346.13M	378.1M	466.87M	492.34M	660.42M	2.93B	4.27B	2.73B	1.6B
EBITDA Margin %	0.04%	0.05%	0.05%	0.06%	0.07%	0.08%	0.15%	0.19%	0.16%	0.1%
EBITDA Growth %	1.5%	1.32%	0.09%	0.23%	0.05%	0.34%	3.44%	0.45%	-0.36%	-0.42%
D&A (Non-Cash Add-back)	58.28M	109.79M	92.99M	97.91M	100.04M	116.57M	547.35M	497.14M	558.27M	51K
EBIT	90.75M	236.34M	285.1M	372.17M	392.31M	543.85M	2.39B	3.77B	2.18B	1.6B
Net Interest Income+	-109.2M	-214.67M	-193.17M	-108.21M	-109.55M	-135.69M	-128.78M	-170.97M	-192.12M	-207.72M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	109.2M	214.67M	193.17M	108.21M	109.55M	135.69M	128.78M	170.97M	192.12M	207.72M
Other Income/Expense	-109.2M	-214.67M	-193.17M	-108.21M	-109.55M	-135.69M	-135.88M	-198.37M	-192.12M	-207.72M
Pretax Income+	-18.58M	21.67M	91.93M	260.75M	282.75M	408.17M	2.25B	3.57B	1.98B	1.39B
Pretax Margin %	-0.01%	0%	0.01%	0.03%	0.04%	0.05%	0.11%	0.16%	0.12%	0.08%
Income Tax+	4.39M	-122.67M	53.15M	55.56M	60.95M	94.63M	526.13M	822.46M	443.65M	309.63M
Effective Tax Rate %	1.23%	6.66%	0.42%	0.79%	0.78%	0.77%	0.77%	0.77%	0.78%	0.78%
Net Income+	-22.83M	144.34M	38.78M	205.19M	221.81M	313.54M	1.73B	2.75B	1.54B	1.08B
Net Margin %	-0.01%	0.02%	0.01%	0.03%	0.03%	0.04%	0.09%	0.12%	0.09%	0.07%
Net Income Growth %	-2.26%	7.32%	-0.73%	4.29%	0.08%	0.41%	4.5%	0.59%	-0.44%	-0.3%
Net Income (Continuing)	-22.83M	144.34M	38.78M	205.19M	221.81M	313.54M	1.73B	2.75B	1.54B	1.08B
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)+	-0.22	1.27	0.34	1.76	1.90	2.66	8.48	16.82	11.94	9.06
EPS Growth %	-2.22%	6.77%	-0.73%	4.18%	0.08%	0.4%	2.19%	0.98%	-0.29%	-0.24%
EPS (Basic)	-0.22	1.30	0.34	1.79	1.92	2.69	8.55	16.98	12.06	9.13
Diluted Shares Outstanding	103.19M	113.58M	115.6M	116.55M	117.03M	117.92M	203.47M	163.48M	129M	118.98M
Basic Shares Outstanding	103.19M	110.75M	112.59M	114.59M	115.71M	116.61M	201.84M	161.96M	127.78M	118.04M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

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+	1.19B	1.22B	1.4B	1.37B	1.31B	2.22B	3.97B	3.5B	3.3B	3.14B
Cash & Short-Term Investments	65.06M	14.45M	57.53M	10.13M	14.1M	423.81M	42.6M	80.44M	66.16M	153.62M
Cash Only	65.06M	14.45M	57.53M	10.13M	14.1M	423.81M	42.6M	80.44M	66.16M	153.62M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	586.32M	624.99M	703.22M	722.81M	692.39M	956.45M	2.17B	1.87B	1.89B	1.66B
Days Sales Outstanding	60.04	35.83	36.49	34.15	34.71	40.79	39.84	29.98	40.41	36.91
Inventory	513.04M	541.77M	601.55M	596.9M	561.25M	784.53M	1.63B	1.43B	1.23B	1.21B
Days Inventory Outstanding	70.32	41.45	41.37	37.55	38.63	45.19	42.27	34.75	40.44	40.17
Other Current Assets	29.9M	34.77M	33.56M	43.92M	39.12M	58.9M	127.96M	124.2M	113.4M	116.66M
Total Non-Current Assets+	1.69B	1.69B	1.61B	1.56B	1.94B	1.95B	6.75B	7.1B	7.2B	7.44B
Property, Plant & Equipment	734.33M	656.1M	639.3M	670.08M	1.01B	1.02B	1.84B	2.05B	2.31B	2.56B
Fixed Asset Turnover	4.85x	9.70x	11.00x	11.53x	7.18x	8.36x	10.79x	11.07x	7.41x	6.42x
Goodwill	739.63M	740.41M	740.41M	740.41M	769.02M	785.3M	3.27B	3.46B	3.56B	3.68B
Intangible Assets	189.6M	159.37M	132.57M	103.15M	128.39M	119.88M	1.6B	1.55B	1.3B	1.1B
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	22.12M	22.7M	22.87M	22.15M	22.23M	16.46M	29.2M	36.38M	37.99M	103.68M
Total Assets+	2.88B	2.91B	3.01B	2.93B	3.25B	4.17B	10.71B	10.6B	10.5B	10.58B
Asset Turnover	1.24x	2.19x	2.34x	2.63x	2.24x	2.05x	1.86x	2.14x	1.63x	1.55x
Asset Growth %	4.02%	0.01%	0.03%	-0.02%	0.11%	0.28%	1.57%	-0.01%	-0.01%	0.01%
Total Current Liabilities+	735.24M	754.7M	798.35M	731.26M	821.3M	1.07B	2.13B	1.84B	1.86B	1.78B
Accounts Payable	365.35M	409.76M	514.28M	423.17M	436.82M	600.36M	1.09B	803.48M	881.38M	868.05M
Days Payables Outstanding	50.08	31.35	35.37	26.62	30.06	34.58	28.42	19.57	29.02	28.76
Short-Term Debt	29.15M	16.22M	12.47M	15.56M	13.88M	27.34M	3.66M	6.36M	3.65M	3.47M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	96.15M	76.33M	32.42M	35.3M	37.95M	38.64M	68.06M	79.25M	89.99M	102.88M
Current Ratio	1.62x	1.61x	1.75x	1.88x	1.59x	2.07x	1.86x	1.90x	1.77x	1.77x
Quick Ratio	0.93x	0.89x	0.99x	1.06x	0.91x	1.34x	1.10x	1.12x	1.11x	1.09x
Cash Conversion Cycle	80.28	45.93	42.49	45.08	43.28	51.4	53.69	45.15	51.83	48.32
Total Non-Current Liabilities+	2B	1.85B	1.83B	1.6B	1.6B	1.95B	3.78B	3.79B	3.9B	4.51B
Long-Term Debt	1.92B	1.79B	1.77B	1.55B	1.28B	1.6B	2.93B	2.98B	3.18B	3.7B
Capital Lease Obligations	0	0	0	0	236.95M	219.24M	375.29M	404.46M	434.08M	525.21M
Deferred Tax Liabilities	11.5M	0	0	0	36.65M	49.49M	362.12M	269.66M	167.2M	148.17M
Other Non-Current Liabilities	63.59M	59.73M	59.62M	58.98M	52.24M	80.4M	119.62M	137.85M	124.97M	135.32M
Total Liabilities	2.73B	2.6B	2.63B	2.34B	2.42B	3.02B	5.91B	5.63B	5.77B	6.29B
Total Debt+	1.95B	1.8B	1.78B	1.56B	1.59B	1.91B	3.4B	3.49B	3.71B	4.33B
Net Debt	1.89B	1.79B	1.73B	1.55B	1.58B	1.48B	3.36B	3.41B	3.65B	4.18B
Debt / Equity	13.08x	5.82x	4.74x	2.62x	1.93x	1.65x	0.71x	0.70x	0.78x	1.01x
Debt / EBITDA	13.11x	5.21x	4.72x	3.34x	3.23x	2.88x	1.16x	0.82x	1.36x	2.72x
Net Debt / EBITDA	12.67x	5.16x	4.57x	3.32x	3.20x	2.24x	1.14x	0.80x	1.33x	2.62x
Interest Coverage	0.83x	1.10x	1.48x	3.41x	3.58x	4.01x	18.54x	22.05x	11.33x	7.68x
Total Equity+	149.19M	309.62M	376.21M	596.34M	824.95M	1.15B	4.8B	4.96B	4.73B	4.3B
Equity Growth %	2.71%	1.08%	0.22%	0.59%	0.38%	0.4%	3.17%	0.03%	-0.05%	-0.09%
Book Value per Share	1.45	2.73	3.25	5.12	7.05	9.78	23.60	30.36	36.69	36.11
Total Shareholders' Equity	149.19M	309.62M	376.21M	596.34M	824.95M	1.15B	4.8B	4.96B	4.73B	4.3B
Common Stock	1.1M	1.11M	1.14M	1.15M	1.16M	1.17M	1.8M	1.39M	1.22M	1.14M
Retained Earnings	-363.7M	-219.36M	-171.69M	34.97M	248.84M	562.37M	540.01M	703.51M	460.18M	24.07M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
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+	177.03M	158.23M	178.53M	282.83M	504.05M	260.07M	1.74B	3.6B	2.31B	1.87B
Operating CF Margin %	0.05%	0.02%	0.03%	0.04%	0.07%	0.03%	0.09%	0.16%	0.13%	0.11%
Operating CF Growth %	5.44%	-0.11%	0.13%	0.58%	0.78%	-0.48%	5.7%	1.06%	-0.36%	-0.19%
Net Income	-22.83M	144.34M	38.78M	205.19M	221.81M	313.54M	1.73B	2.75B	1.54B	1.08B
Depreciation & Amortization	58.28M	109.79M	92.99M	97.91M	100.04M	116.57M	547.35M	497.14M	558.27M	561.93M
Stock-Based Compensation	6.85M	10.55M	13.51M	14.42M	12.24M	17.02M	31.49M	31.34M	48.52M	63.11M
Deferred Taxes	3.29M	-124.79M	49.1M	51.82M	50.99M	16.61M	-34.57M	-92.46M	-102.46M	-19.03M
Other Non-Cash Items	27.09M	61.68M	69.71M	79K	11.12M	13.86M	-5.07M	69.18M	-13.15M	32.98M
Working Capital Changes	104.36M	-43.35M	-85.57M	-86.59M	107.85M	-217.53M	-521.06M	344.67M	275.13M	155.81M
Change in Receivables	74.09M	-44.55M	-75.67M	-9.22M	42.79M	-264.26M	-577.69M	405.27M	5.38M	264.23M
Change in Inventory	46.85M	-33.97M	-60.65M	-5.42M	44.2M	-220.1M	-282.17M	271.89M	231.46M	51.48M
Change in Payables	-45.29M	36.59M	65.76M	-89.39M	4.07M	160.95M	191.88M	-314M	75.75M	-28.6M
Cash from Investing+	-1.51B	-38.33M	-59.43M	-96.66M	-199.18M	-136.22M	-1.34B	-957.48M	-668.29M	-710.72M
Capital Expenditures	-43.81M	-42.66M	-62.41M	-101.41M	-112.87M	-112.08M	-227.89M	-340.15M	-476.33M	-380.57M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.28M	8.3M	2.98M	4.75M	6.54M	8.5M	13.56M	10.69M	46.72M	13.99M
Cash from Financing+	1.38B	-170.51M	-76.02M	-233.58M	-300.9M	285.87M	-780.11M	-2.6B	-1.65B	-1.07B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-42.87M	-48.7M	-134K	-2.3M	-22.69M	-4.95M	-20.67M	0	-77.15M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	133.22M	115.56M	116.12M	181.42M	391.18M	147.99M	1.52B	3.26B	1.83B	1.49B
FCF Margin %	0.04%	0.02%	0.02%	0.02%	0.05%	0.02%	0.08%	0.14%	0.11%	0.09%
FCF Growth %	73.97%	-0.13%	0%	0.56%	1.16%	-0.62%	9.24%	1.15%	-0.44%	-0.18%
FCF per Share	1.29	1.02	1.00	1.56	3.34	1.25	7.45	19.94	14.19	12.54
FCF Conversion (FCF/Net Income)	-7.75x	1.10x	4.60x	1.38x	2.27x	0.83x	1.01x	1.31x	1.50x	1.74x
Interest Paid	0	0	0	107.67M	100.35M	110.6M	105.57M	169.39M	186.5M	188.45M
Taxes Paid	0	0	0	3.15M	18.11M	43.4M	633.06M	936.42M	578.73M	373.06M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-24.11%	62.92%	11.31%	42.2%	31.21%	31.71%	57.95%	56.31%	31.78%	23.88%
Return on Invested Capital (ROIC)	5.57%	8.58%	10.18%	13.02%	12.94%	16.2%	33.17%	34.21%	19.49%	14.2%
Gross Margin	25.29%	25.08%	24.56%	24.89%	27.15%	25.97%	29.41%	34.08%	35.17%	32.82%
Net Margin	-0.64%	2.27%	0.55%	2.66%	3.05%	3.66%	8.67%	12.1%	9.01%	6.57%
Debt / Equity	13.08x	5.82x	4.74x	2.62x	1.93x	1.65x	0.71x	0.70x	0.78x	1.01x
Interest Coverage	0.83x	1.10x	1.48x	3.41x	3.58x	4.01x	18.54x	22.05x	11.33x	7.68x
FCF Conversion	-7.75x	1.10x	4.60x	1.38x	2.27x	0.83x	1.01x	1.31x	1.50x	1.74x
Revenue Growth	122.21%	78.63%	10.47%	9.82%	-5.75%	17.56%	132.44%	14.24%	-24.77%	-4.08%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Windows Doors And Millwork	868.84M	1.29B	1.36B	1.45B	1.54B	1.63B	3.33B	4.79B	4.29B	4.23B
Windows Doors And Millwork Growth	-	48.03%	5.79%	6.27%	6.71%	5.59%	104.52%	43.78%	-10.47%	-1.45%
Lumber And Lumber Sheet Goods	1.15B	2.13B	2.51B	2.9B	2.25B	3.08B	8.41B	8.09B	4.13B	4.19B
Lumber And Lumber Sheet Goods Growth	-	85.07%	17.81%	15.58%	-22.42%	36.63%	173.45%	-3.85%	-48.95%	1.53%
Specialty Building Products And Services	-	-	-	-	-	-	-	4.16B	3.98B	4.05B
Specialty Building Products And Services Growth	-	-	-	-	-	-	-	-	-4.24%	1.79%
Manufactured Products	644.39M	1.1B	1.21B	1.39B	1.45B	1.64B	4.33B	5.69B	4.7B	3.93B
Manufactured Products Growth	-	70.34%	10.10%	15.18%	4.13%	13.17%	164.15%	31.36%	-17.42%	-16.36%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
West	789.27M	1.94B	2.19B	2.46B	2.25B	2.64B	-	-	-	-
West Growth	-	145.69%	12.87%	12.47%	-8.44%	17.09%	-	-	-	-
South	1.1B	1.7B	1.86B	2.05B	1.87B	2.35B	-	-	-	-
South Growth	-	55.21%	8.84%	10.54%	-8.97%	25.67%	-	-	-	-
Southeast	917.02M	1.37B	1.54B	1.7B	1.61B	1.95B	-	-	-	-
Southeast Growth	-	49.17%	12.75%	10.50%	-5.52%	20.98%	-	-	-	-
Northeast	630.49M	1.2B	1.29B	1.34B	1.3B	1.32B	-	-	-	-
Northeast Growth	-	90.98%	6.74%	4.31%	-3.36%	2.19%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Builders FirstSource, Inc. (BLDR) has a price-to-earnings (P/E) ratio of 14.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Builders FirstSource, Inc. (BLDR) reported $15.65B in revenue for fiscal year 2024. This represents a 1909% increase from $779.1M in 2011.

Builders FirstSource, Inc. (BLDR) saw revenue decline by 4.1% over the past year.

Yes, Builders FirstSource, Inc. (BLDR) is profitable, generating $593.9M in net income for fiscal year 2024 (6.6% net margin).

Dividend & Returns

Builders FirstSource, Inc. (BLDR) has a return on equity (ROE) of 23.9%. This is excellent, indicating efficient use of shareholder capital.

Builders FirstSource, Inc. (BLDR) generated $1.02B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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