Revenue growth remains marginal at 3.1% in 2026Q1, while gross margins have contracted from a 17.6% peak in 2024Q1 to 15.9% in the most recent quarter.
| Metric | TTM | Jan'26 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 |
|---|
| Sales/Revenue | 2.98B | 2.95B | 2.95B | 3.14B | 4.45B | 4.28B | 3.1B | 2.64B | 2.86B | 1.81B | 1.88B | 1.92B | 1.98B | 2.15B | 1.91B | 1.76B | 1.8B | 1.65B | 2.78B | 3.83B | 4.9B | 5.62B | 3.67B | 4.27B | 3.73B | 3.77B | 4.22B |
| Revenue Growth % | 1.38% | 0.05% | -5.86% | -29.52% | 4.05% | 38.09% | 17.44% | -7.88% | 57.73% | -3.51% | -1.88% | -3.15% | -8.02% | 12.8% | 8.68% | -2.71% | 9.62% | -40.78% | -27.5% | -21.75% | -12.85% | 53.07% | -14.02% | 14.4% | -0.92% | -10.8% | - |
| Cost of Goods Sold | 2.53B | 2.5B | 2.46B | 2.61B | 3.62B | 3.5B | 2.62B | 2.28B | 2.53B | 1.58B | 1.65B | 1.69B | 1.75B | 1.92B | 1.68B | 1.55B | 1.59B | 1.45B | 2.46B | 3.44B | 4.42B | 5.11B | 3.34B | 3.81B | 3.37B | 3.4B | 3.88B |
| COGS % of Revenue | - | 84.71% | 83.43% | 83.2% | 81.28% | 81.8% | 84.58% | 86.47% | 88.41% | 87.3% | 87.91% | 88.37% | 88.43% | 89.38% | 87.94% | 88.03% | 88.32% | 88.27% | 88.67% | 89.78% | 90.21% | 90.89% | 90.93% | 89.29% | 90.28% | 90.09% | 91.85% |
| Gross Profit | 447.15M | 451.63M | 489.14M | 527.02M | 832.98M | 778.43M | 477.73M | 356.92M | 331.85M | 230.49M | 227.41M | 222.89M | 229.1M | 228.48M | 230.07M | 210.15M | 210.67M | 193.16M | 314.93M | 391.95M | 479.81M | 512.44M | 333.23M | 457.47M | 363.03M | 373.52M | 344.17M |
| Gross Margin % | 15.03% | 15.29% | 16.57% | 16.8% | 18.72% | 18.2% | 15.42% | 13.53% | 11.59% | 12.7% | 12.09% | 11.63% | 11.57% | 10.62% | 12.06% | 11.97% | 11.68% | 11.73% | 11.33% | 10.22% | 9.79% | 9.11% | 9.07% | 10.71% | 9.72% | 9.91% | 8.15% |
| Gross Profit Growth % | - | -7.67% | -7.19% | -36.73% | 7.01% | 62.94% | 33.85% | 7.55% | 43.98% | 1.36% | 2.03% | -2.71% | 0.27% | -0.69% | 9.48% | -0.25% | 9.07% | -38.67% | -19.65% | -18.31% | -6.37% | 53.78% | -27.16% | 26.01% | -2.81% | 8.53% | - |
| Operating Expenses | 419.05M | 419.14M | 401.57M | 388.57M | 393.9M | 340.35M | 335.49M | 321.76M | 345.14M | 207.74M | 213.65M | 205.68M | 215.57M | 249.78M | 224.56M | 218.42M | 234.55M | 209.43M | 323.92M | 393.68M | 402.28M | 396.78M | 258.42M | 366.06M | 317.25M | 325.32M | 331.74M |
| OpEx % of Revenue | - | 14.19% | 13.6% | 12.39% | 8.85% | 7.96% | 10.83% | 12.2% | 12.06% | 11.45% | 11.36% | 10.73% | 10.89% | 11.61% | 11.77% | 12.44% | 13% | 12.72% | 11.65% | 10.27% | 8.21% | 7.06% | 7.04% | 8.57% | 8.5% | 8.63% | 7.85% |
| Selling, General & Admin | 383.22M | 381.11M | 365.53M | 355.82M | 366.31M | 322.2M | 314.23M | 291.53M | 319.31M | 198.71M | 204.31M | 195.94M | 206.09M | 240.67M | 216M | 207.86M | 221.19M | 210.21M | 303.4M | 372.75M | 381.55M | 378.01M | 248.29M | 346.58M | 295.49M | 298.58M | 301.35M |
| SG&A % of Revenue | - | 12.9% | 12.38% | 11.34% | 8.23% | 7.53% | 10.15% | 11.05% | 11.15% | 10.95% | 10.86% | 10.22% | 10.41% | 11.18% | 11.32% | 11.84% | 12.26% | 12.77% | 10.91% | 9.72% | 7.79% | 6.72% | 6.76% | 8.11% | 7.91% | 7.92% | 7.13% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3.18M | 38.04M | 36.04M | 32.75M | 27.59M | 18.14M | 21.27M | 30.23M | 380K | 822K | 255K | -871K | -325K | -306K | 7K | 8.56M | 10.56M | 0 | -788K | 20.52M | 20.92M | 20.72M | 18.77M | 10.13M | 19.48M | 21.76M | 26.75M |
| Operating Income | 28.1M | 32.48M | 87.57M | 138.45M | 439.09M | 438.08M | 142.24M | 35.15M | -13.29M | 29.99M | 41.85M | 16.79M | 13.54M | -21.3M | 5.51M | -8.27M | -23.88M | -16.27M | -8.99M | -1.73M | 77.53M | 115.66M | 74.81M | 91.41M | 45.78M | 48.19M | 12.43M |
| Operating Margin % | 0.94% | 1.1% | 2.97% | 4.41% | 9.87% | 10.24% | 4.59% | 1.33% | -0.46% | 1.65% | 2.22% | 0.88% | 0.68% | -0.99% | 0.29% | -0.47% | -1.32% | -0.99% | -0.32% | -0.05% | 1.58% | 2.06% | 2.04% | 2.14% | 1.23% | 1.28% | 0.29% |
| Operating Income Growth % | - | -62.91% | -36.75% | -68.47% | 0.23% | 207.98% | 304.62% | 364.59% | -144.3% | -28.34% | 149.25% | 24.04% | 163.55% | -486.66% | 166.61% | 65.36% | -46.8% | -80.94% | -419% | -102.23% | -32.97% | 54.61% | -18.16% | 99.64% | -5% | 287.81% | - |
| EBITDA | 70.43M | 72.39M | 126.06M | 170.49M | 466.7M | 466.27M | 171.14M | 65.39M | 12.54M | 39.02M | 51.19M | 26.53M | 23.01M | -12.18M | 14.07M | 2.29M | -10.51M | 719K | 11.53M | 21.62M | 100.88M | 138.06M | 87.26M | 110.88M | 67.54M | 74.94M | 42.82M |
| EBITDA Margin % | 2.37% | 2.45% | 4.27% | 5.44% | 10.49% | 10.9% | 5.53% | 2.48% | 0.44% | 2.15% | 2.72% | 1.38% | 1.16% | -0.57% | 0.74% | 0.13% | -0.58% | 0.04% | 0.41% | 0.56% | 2.06% | 2.46% | 2.38% | 2.6% | 1.81% | 1.99% | 1.01% |
| EBITDA Growth % | -35.53% | -42.58% | -26.06% | -63.47% | 0.09% | 172.45% | 161.74% | 421.42% | -67.86% | -23.78% | 92.95% | 15.31% | 288.85% | -186.57% | 514.05% | 121.8% | -1562.03% | -93.76% | -46.68% | -78.57% | -26.93% | 58.21% | -21.3% | 64.17% | -9.87% | 75.01% | - |
| D&A (Non-Cash Add-back) | 42.33M | 39.91M | 38.49M | 32.04M | 27.61M | 28.19M | 28.9M | 30.23M | 25.83M | 9.03M | 9.34M | 9.74M | 9.47M | 9.12M | 8.56M | 10.56M | 13.37M | 16.98M | 20.52M | 23.36M | 23.35M | 22.4M | 12.46M | 19.48M | 21.76M | 26.75M | 30.39M |
| EBIT | 29.88M | 32.48M | 90.05M | 105.63M | 437.03M | 439.38M | 142.5M | 32.61M | -12.91M | 30.81M | 42.1M | 15.92M | 13.21M | -21.61M | 5.52M | -7.09M | -20.04M | -24.44M | -9.59M | -1.36M | 72.34M | 115.47M | 72.45M | 91.41M | 45.78M | 48.19M | 12.43M |
| Net Interest Income | -25.77M | -32.35M | -19.36M | -23.75M | -42.27M | -45.51M | -47.41M | -54.22M | -47.3M | -21.23M | -24.9M | -27.34M | -26.77M | -28.02M | -28.16M | -30.51M | -33.79M | -32.46M | -38.55M | -43.66M | -46.16M | -42.31M | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 8.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 43.04M | 32.35M | 19.36M | 23.75M | 42.27M | 45.51M | 47.41M | 54.22M | 47.3M | 21.23M | 24.9M | 27.34M | 26.77M | 28.02M | 28.16M | 30.51M | 33.79M | 32.46M | 38.55M | 38.55M | 46.16M | 42.31M | 42.31M | 31.12M | 0 | 1.32M | 0 |
| Other Income/Expense | -33.94M | -32.35M | -16.88M | -56.56M | -44.33M | -44.2M | -47.16M | -56.76M | -46.92M | -20.4M | -24.45M | -28.21M | -27.1M | -28.33M | -28.15M | -29.34M | -29.95M | -40.63M | -39.15M | -43.29M | -51.35M | -42.5M | -31.12M | -376K | -348K | -448K | -560K |
| Pretax Income | -5.83M | 129K | 70.69M | 81.89M | 394.76M | 393.88M | 95.08M | -21.61M | -60.21M | 9.59M | 17.21M | -11.42M | -13.56M | -49.63M | -22.64M | -37.6M | -53.83M | -56.9M | -48.14M | -45.02M | 26.18M | 73.16M | 43.69M | 91.03M | 45.44M | 47.74M | 11.87M |
| Pretax Margin % | -0.2% | 0% | 2.39% | 2.61% | 8.87% | 9.21% | 3.07% | -0.82% | -2.1% | 0.53% | 0.91% | -0.6% | -0.69% | -2.31% | -1.19% | -2.14% | -2.98% | -3.46% | -1.73% | -1.17% | 0.53% | 1.3% | 1.19% | 2.13% | 1.22% | 1.27% | 0.28% |
| Income Tax | -1.79M | -90K | 17.57M | 33.35M | 98.58M | 97.74M | 14.2M | -3.95M | -12.15M | -53.41M | 1.12M | 153K | 312K | -9.01M | 386K | 962K | -589K | 4.56M | -16.43M | -17.08M | 10.35M | 28.56M | 17.78M | 34.88M | 17.6M | 17.6M | -13.76M |
| Effective Tax Rate % | 30.68% | -69.77% | 24.86% | 40.73% | 24.97% | 24.82% | 14.93% | 18.29% | 20.19% | -557.21% | 6.52% | -1.34% | -2.3% | 18.16% | -1.7% | -2.56% | 1.09% | -8.02% | 34.14% | 37.93% | 39.53% | 39.04% | 40.7% | 38.31% | 38.73% | 36.86% | -115.97% |
| Net Income | -4.04M | 219K | 53.12M | 48.54M | 296.18M | 296.13M | 80.88M | -17.66M | -48.05M | 62.99M | 16.09M | -11.58M | -13.87M | -40.62M | -23.03M | -38.57M | -53.24M | -61.46M | -31.7M | -27.95M | 15.83M | 44.6M | 25.91M | 56.15M | 27.84M | 29.27M | 7.24M |
| Net Margin % | -0.14% | 0.01% | 1.8% | 1.55% | 6.66% | 6.92% | 2.61% | -0.67% | -1.68% | 3.47% | 0.86% | -0.6% | -0.7% | -1.89% | -1.21% | -2.2% | -2.95% | -3.73% | -1.14% | -0.73% | 0.32% | 0.79% | 0.71% | 1.31% | 0.75% | 0.78% | 0.17% |
| Net Income Growth % | -110.52% | -99.59% | 9.44% | -83.61% | 0.01% | 266.13% | 558.1% | 63.26% | -176.28% | 291.63% | 238.95% | 16.55% | 65.85% | -76.39% | 40.29% | 27.56% | 13.37% | -93.87% | -13.45% | -276.51% | -64.5% | 72.17% | -53.87% | 101.7% | -4.9% | 304.41% | - |
| Net Income (Continuing) | -4.04M | 219K | 53.12M | 48.54M | 296.18M | 296.13M | 80.88M | -17.66M | -48.05M | 62.99M | 16.09M | -11.58M | -13.87M | -40.62M | -23.03M | -38.57M | -53.24M | -61.46M | -31.7M | -27.95M | 15.83M | 44.6M | 25.91M | 56.15M | 27.84M | 29.27M | 7.24M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.51 | 0.03 | 6.19 | 5.39 | 31.51 | 29.99 | 8.55 | -1.89 | -5.21 | 6.81 | 1.77 | -1.32 | -1.61 | -5.07 | -3.83 | -8.20 | -15.35 | -17.53 | -9.02 | -8.01 | 4.51 | 12.91 | 9.02 | 25.73 | 12.76 | 13.42 | 3.32 |
| EPS Growth % | -111.41% | -99.55% | 14.84% | -82.89% | 5.07% | 250.76% | 552.38% | 63.72% | -176.51% | 284.75% | 234.09% | 18.01% | 68.24% | -32.38% | 53.29% | 46.58% | 12.44% | -94.35% | -12.61% | -277.61% | -65.07% | 43.13% | -64.94% | 101.65% | -4.92% | 304.22% | - |
| EPS (Basic) | - | 0.03 | 6.22 | 5.40 | 31.75 | 30.80 | 8.58 | -1.89 | -5.21 | 6.96 | 1.80 | -1.32 | -1.61 | -5.07 | -3.83 | -8.20 | -15.35 | -17.53 | -9.02 | -8.01 | 4.60 | 13.09 | 9.64 | 27.44 | 13.60 | 14.31 | 3.54 |
| Diluted Shares Outstanding | 7.95M | 7.95M | 8.57M | 8.99M | 9.4M | 9.87M | 9.46M | 9.34M | 9.22M | 9.25M | 9.09M | 8.75M | 8.6M | 8.02M | 6.01M | 4.7M | 3.47M | 3.51M | 3.51M | 3.49M | 3.48M | 3.45M | 2.29M | 2.18M | 2.18M | 2.18M | 2.18M |
| Basic Shares Outstanding | 7.89M | 7.89M | 8.53M | 8.99M | 9.33M | 9.61M | 9.43M | 9.34M | 9.22M | 9.04M | 8.94M | 8.75M | 8.6M | 8.02M | 6.01M | 4.7M | 3.47M | 3.51M | 3.51M | 3.49M | 3.46M | 3.41M | 2.15M | 2.05M | 2.05M | 2.05M | 2.05M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 97.27% | 33.86% | - | - | - | - | - |
Housing market cyclicality
As reported in recent financial filings, BlueLinx Holdings experienced a marginal revenue growth of 3.1% in 2026Q1, following a period of inconsistent performance where quarterly revenue fluctuated between $709 million and $780 million, reflecting the company's struggle to achieve meaningful organic expansion in a high-interest rate environment.
The revenue trajectory appears largely tethered to external housing starts rather than internal growth initiatives, suggesting limited pricing power in a commoditized distribution market. Investors should monitor whether the recent slight uptick in 2026Q1 represents a sustainable recovery or merely a seasonal anomaly in a broader, stagnant trend.
According to the provided income statement data, BlueLinx's gross margin has trended downward from a peak of 17.6% in 2024Q1 to 15.9% in 2026Q1, highlighting the inherent difficulty of maintaining profitability as a wholesale intermediary in a volatile building materials market.
The thin operating margins, which dipped into negative territory in 2025Q4, suggest that the company lacks the buffer to absorb even minor fluctuations in procurement costs. This structural vulnerability implies that any sustained decline in commodity prices or volume could rapidly erode the company's already precarious bottom-line profitability.
Based on the quarterly income statements, BlueLinx's operating income has failed to scale with revenue, as evidenced by the 2026Q1 operating margin of only 1.0%, which is significantly lower than the 3.8% margin achieved in 2024Q1 despite comparable revenue levels during those periods.
The inability to leverage fixed costs during periods of revenue stability suggests that the company's warehouse and logistics infrastructure requires high volume to achieve meaningful operating efficiency. This lack of scalability warrants further investigation into whether management can optimize the cost-to-serve or if the current operating model is fundamentally limited by its high fixed-cost base.
As indicated by the historical data, BlueLinx's net income has shown extreme volatility, swinging from a $17.5 million profit in 2024Q1 to a $1.5 million loss in 2026Q1, a trend that is frequently exacerbated by non-operating items and the impact of stock-based compensation.
The frequent swings between net profitability and loss suggest that reported earnings are a poor proxy for underlying operational health, likely distorted by inventory valuation adjustments and the timing of vendor rebates. Investors should look past the headline EPS figures to focus on cash-generative capacity, as the current earnings profile appears highly sensitive to accounting nuances.
While the company maintains a cash-rich balance sheet, the income statement reveals a concerning trend of net margin compression, with the most recent quarter showing a negative 0.2% net margin, suggesting that the business model is currently failing to generate consistent shareholder value.
Short-sellers may focus on the company's inability to maintain positive net income during periods of moderate revenue, which points to a high break-even point that could prove disastrous in a severe housing downturn. The reliance on commodity-driven inventory gains remains a significant risk, as any reversal in market pricing could lead to rapid and sustained losses.
Quick answers to the most common questions about buying BXC stock.
For fiscal year 2025, BlueLinx Holdings Inc. (BXC) reported total revenue of $2.95B. This represents a 30.1% decline compared to $4.22B in 2000.
BlueLinx Holdings Inc. (BXC) is profitable, generating $0.2M in net income for the fiscal year ending 2025 with a net profit margin of 0.0%.
BlueLinx Holdings Inc. (BXC) reported an operating income of $32.5M, resulting in an operating profit margin of 1.1%. This margin reflects the operational efficiency of the business before interest and taxes.
BlueLinx Holdings Inc. (BXC) generated $451.6M in gross profit for the year, representing a gross profit margin of 15.3%. This demonstrates the company's core pricing power and production efficiency.