Latest Ratios: P/E Ratio 15.2x · EV/EBITDA 8.6x · ROE 10.1%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.4B | $11.5B | $17.0B | $21.5B | $10.6B | $17.4B | $4.8B | $3.0B | $1.3B | $2.5B | $1.2B |
| Enterprise Value | $11.8B | $17.0B | $21.2B | $25.2B | $14.0B | $20.8B | $6.3B | $4.5B | $2.8B | $4.2B | $3.0B |
| P/E Ratio → | 15.21 | 26.45 | 15.78 | 13.98 | 3.86 | 10.11 | 15.34 | 13.37 | 6.20 | 64.09 | 8.64 |
| P/S Ratio | 0.42 | 0.76 | 1.04 | 1.26 | 0.47 | 0.88 | 0.56 | 0.41 | 0.16 | 0.36 | 0.20 |
| P/B Ratio | 1.52 | 2.64 | 3.96 | 4.55 | 2.14 | 3.63 | 4.17 | 3.60 | 2.13 | 6.70 | 4.02 |
| P/FCF | 7.46 | 13.48 | 11.40 | 11.76 | 3.25 | 11.51 | 32.52 | 7.60 | 7.01 | 21.69 | 10.78 |
| P/OCF | 5.23 | 9.46 | 9.08 | 9.34 | 2.95 | 10.00 | 18.50 | 5.90 | 4.50 | 14.11 | 7.87 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.12 | 1.29 | 1.47 | 0.62 | 1.05 | 0.74 | 0.62 | 0.37 | 0.60 | 0.48 |
| EV / EBITDA | 8.59 | 12.32 | 9.82 | 9.21 | 3.28 | 7.09 | 9.53 | 9.24 | 6.05 | 11.23 | 8.76 |
| EV / EBIT | 15.04 | 21.58 | 13.28 | 11.57 | 3.74 | 8.74 | 11.57 | 11.60 | 7.58 | 14.89 | 12.84 |
| EV / FCF | — | 19.89 | 14.20 | 13.76 | 4.30 | 13.72 | 42.53 | 11.63 | 15.56 | 36.56 | 26.25 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.0% | 29.0% | 32.8% | 35.2% | 34.1% | 29.4% | 26.0% | 27.2% | 24.9% | 24.6% | 25.1% |
| Operating Margin | 5.2% | 5.2% | 9.7% | 12.7% | 16.6% | 12.0% | 6.4% | 5.4% | 4.8% | 4.1% | 3.7% |
| Net Profit Margin | 2.9% | 2.9% | 6.6% | 9.0% | 12.1% | 8.7% | 3.7% | 3.0% | 2.7% | 0.6% | 2.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | 10.1% | 23.9% | 31.8% | 56.3% | 57.9% | 31.7% | 31.2% | 42.2% | 11.3% | 62.9% |
| ROA | 4.0% | 4.0% | 10.2% | 14.6% | 25.8% | 23.2% | 8.4% | 7.2% | 6.9% | 1.3% | 5.0% |
| ROIC | 6.4% | 6.4% | 14.2% | 19.5% | 34.2% | 33.2% | 16.2% | 12.9% | 13.0% | 10.2% | 8.6% |
| ROCE | 8.5% | 8.5% | 18.3% | 25.0% | 43.5% | 40.9% | 19.7% | 16.9% | 16.7% | 13.1% | 11.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.30 | 1.30 | 1.01 | 0.78 | 0.70 | 0.71 | 1.65 | 1.93 | 2.62 | 4.74 | 5.82 |
| Debt / EBITDA | 4.10 | 4.10 | 2.01 | 1.36 | 0.82 | 1.16 | 2.88 | 3.23 | 3.34 | 4.72 | 5.21 |
| Net Debt / Equity | — | 1.26 | 0.97 | 0.77 | 0.69 | 0.70 | 1.28 | 1.91 | 2.60 | 4.59 | 5.77 |
| Net Debt / EBITDA | 3.97 | 3.97 | 1.94 | 1.33 | 0.80 | 1.14 | 2.24 | 3.20 | 3.32 | 4.57 | 5.16 |
| Debt / FCF | — | 6.41 | 2.80 | 1.99 | 1.05 | 2.22 | 10.01 | 4.03 | 8.55 | 14.87 | 15.47 |
| Interest Coverage | 2.87 | 2.87 | 7.68 | 11.33 | 21.89 | 18.48 | 4.01 | 3.58 | 3.44 | 1.48 | 1.10 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.86 | 1.86 | 1.77 | 1.77 | 1.90 | 1.86 | 2.07 | 1.59 | 1.88 | 1.75 | 1.61 |
| Quick Ratio | 1.16 | 1.16 | 1.09 | 1.11 | 1.12 | 1.10 | 1.34 | 0.91 | 1.06 | 0.99 | 0.89 |
| Cash Ratio | 0.12 | 0.12 | 0.09 | 0.04 | 0.04 | 0.02 | 0.39 | 0.02 | 0.01 | 0.07 | 0.02 |
| Asset Turnover | — | 1.35 | 1.55 | 1.63 | 2.14 | 1.86 | 2.05 | 2.24 | 2.63 | 2.34 | 2.19 |
| Inventory Turnover | 9.85 | 9.85 | 9.09 | 9.02 | 10.50 | 8.64 | 8.08 | 9.45 | 9.72 | 8.82 | 8.81 |
| Days Sales Outstanding | — | 36.62 | 36.91 | 40.41 | 29.98 | 39.84 | 40.79 | 34.71 | 34.15 | 36.49 | 35.83 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 3.8% | 6.3% | 7.2% | 25.9% | 9.9% | 6.5% | 7.5% | 16.1% | 1.6% | 11.6% |
| FCF Yield | 13.4% | 7.4% | 8.8% | 8.5% | 30.7% | 8.7% | 3.1% | 13.2% | 14.3% | 4.6% | 9.3% |
| Buyback Yield | 6.5% | 3.6% | 8.9% | 8.6% | 24.8% | 9.8% | 0.1% | 0.3% | 0.4% | 0.1% | 0.1% |
| Total Shareholder Yield | 6.5% | 3.6% | 8.9% | 8.6% | 24.8% | 9.8% | 0.1% | 0.3% | 0.4% | 0.1% | 0.1% |
| Shares Outstanding | — | $112M | $119M | $129M | $163M | $203M | $118M | $117M | $117M | $116M | $114M |
Includes 30+ ratios · 24 years · Updated daily
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Quick answers to the most common questions about buying BLDR stock.
Builders FirstSource, Inc.'s current P/E ratio is 15.2x. The historical average is 18.6x. This places it at the 62th percentile of its historical range.
Builders FirstSource, Inc.'s current EV/EBITDA is 8.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.4x.
Builders FirstSource, Inc.'s return on equity (ROE) is 10.1%. The historical average is -1.7%.
Based on historical data, Builders FirstSource, Inc. is trading at a P/E of 15.2x. This is at the 62th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Builders FirstSource, Inc. has 29.0% gross margin and 5.2% operating margin.
Builders FirstSource, Inc.'s Debt/EBITDA ratio is 4.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Housing downturn and margin compression
Metrics are mathematically derived from official filings.
Margin Erosion Reflects Cyclical Pressure
Gross margin fell from 33.4% in 2024Q1 to 28.1% in 2026Q2, a 530 basis point decline, as reported in financial statements, indicating pricing power is weakening amid housing demand softness.
The sequential deterioration in gross margin, from 30.4% in 2025Q3 to 28.1% in 2026Q2, suggests that the value-added product mix is not fully offsetting commodity price deflation and competitive pricing pressure. Operating margin compression to 3.3% from 11.0% a year earlier highlights the loss of operating leverage as fixed costs remain sticky. Net margin turned negative in 2026Q2, but this appears driven by non-operating items, as operating income was still positive, warranting scrutiny of below-the-line charges.
Return on Capital Decaying Sharply
ROIC has fallen from 4.3% in 2024Q2 to 1.0% in 2026Q2, as per quarterly data, indicating that the company is generating significantly lower returns on its invested capital during the housing downturn.
The decline in ROIC is driven by both margin compression and a slight reduction in asset turnover, from 0.41 to 0.34, suggesting that the asset base is not being utilized as efficiently. The company's heavy investment in manufacturing and distribution capacity is yielding lower returns as volumes decline, which may indicate that the capital base is becoming oversized relative to current demand. Investors should monitor whether ROIC stabilizes as housing starts recover, or if structural overcapacity persists.
Working Capital Cycle Lengthens
The cash conversion cycle extended from 47 days in 2024Q2 to 56 days in 2026Q2, as reported in financial statements, reflecting slower inventory turnover and delayed collections amid weakening demand.
The increase in DSO from 38 to 39 days and DIO from 40 to 40 days is modest, but the overall CCC trend indicates that cash is being tied up longer in operations. The slight extension in DPO from 31 to 32 days suggests limited ability to stretch supplier payments, which may reflect the company's position in the supply chain. This lengthening cycle, combined with lower revenue, puts additional pressure on cash flow generation, as evidenced by the drop in FCF margin to 0.8% in 2026Q2.
Debt Service Comfort Deteriorates
Interest coverage has collapsed from 9.41x in 2024Q2 to 1.69x in 2026Q2, as per financial statements, indicating that earnings are barely covering interest expense, raising refinancing risk concerns.
The D/EBITDA ratio has risen from 6.88x to 18.81x over the same period, reflecting both higher debt and lower EBITDA, which suggests that leverage is becoming less comfortable. While the absolute debt level increased only modestly, the decline in EBITDA has made debt service more burdensome. The company's ability to refinance maturing debt may be constrained if the housing downturn persists, and investors should monitor the maturity schedule and cash flow adequacy.
Liquidity Buffer Thins Rapidly
Cash reserves have dwindled from $697.5M in 2024Q1 to $65.7M in 2026Q2, while the current ratio fell from 2.21 to 1.79, as per balance sheet data, signaling a shrinking cushion against operational shocks.
The quick ratio of 1.09 in 2026Q2 indicates that the company can still cover current liabilities without relying on inventory sales, but the margin of safety is narrowing. The combination of low cash, high debt, and negative retained earnings suggests that the balance sheet is becoming more fragile. If the housing downturn deepens, the company may need to draw on credit facilities or curtail capital returns, which could limit strategic flexibility.
Misapplied Metric: Debt-to-Equity
The headline D/E of 1.31 understates true leverage because goodwill of $4.1B inflates equity, as per balance sheet data, making tangible equity negative and obscuring the actual debt burden.
Analysts often use D/E to gauge financial risk, but for BLDR, this metric is misleading due to the large goodwill from acquisitions. A more appropriate measure is debt-to-tangible equity, which would be extremely high given negative tangible equity, or debt-to-EBITDA, which has risen to 18.81x. Investors should focus on cash flow coverage and refinancing needs rather than the low D/E ratio, which masks the company's true leverage.