Gross margin has held within a 33.0% to 36.9% band while SG&A of $368.7M consumed roughly 80% of the latest quarter's $458.5M gross profit, leaving a thin 7.4% operating margin that warrants close monitoring.
SiteOne Landscape Supply, Inc. (SITE) annual income statement — 13-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Sales/Revenue | 4.81B | 4.7B | 4.54B | 4.3B | 4.01B | 3.48B | 2.7B | 2.36B | 2.11B | 1.86B | 1.65B | 1.45B | 1.18B | 1.07B |
| Revenue Growth % | 2.89% | 3.62% | 5.57% | 7.14% | 15.5% | 28.52% | 14.72% | 11.61% | 13.46% | 12.95% | 13.54% | 23.37% | 9.69% | - |
| Cost of Goods Sold | 3.11B | 3.07B | 2.98B | 2.81B | 2.59B | 2.26B | 1.8B | 1.58B | 1.43B | 1.27B | 1.13B | 1.02B | 865.5M | 783M |
| COGS % of Revenue | - | 65.24% | 65.64% | 65.33% | 64.59% | 65.11% | 66.67% | 67.2% | 67.9% | 68.01% | 68.71% | 70.44% | 73.56% | 72.99% |
| Gross Profit | 1.7B | 1.64B | 1.56B | 1.49B | 1.42B | 1.21B | 901.3M | 773.2M | 678.1M | 595.5M | 515.7M | 429.1M | 311.1M | 289.7M |
| Gross Margin % | 35.33% | 34.76% | 34.36% | 34.67% | 35.41% | 34.89% | 33.33% | 32.8% | 32.1% | 31.99% | 31.29% | 29.56% | 26.44% | 27.01% |
| Gross Profit Growth % | - | 4.81% | 4.62% | 4.9% | 17.23% | 34.54% | 16.57% | 14.02% | 13.87% | 15.47% | 20.18% | 37.93% | 7.39% | - |
| Operating Expenses | 1.44B | 1.4B | 1.37B | 1.24B | 1.09B | 898.9M | 721.5M | 648.3M | 570.8M | 497.7M | 441.7M | 369.3M | 265.9M | 232M |
| OpEx % of Revenue | - | 29.7% | 30.12% | 28.85% | 27.11% | 25.86% | 26.68% | 27.5% | 27.02% | 26.73% | 26.8% | 25.44% | 22.6% | 21.63% |
| Selling, General & Admin | 1.39B | 1.28B | 1.39B | 1.26B | 1.1B | 900.6M | 728.2M | 654.3M | 578.8M | 502.2M | 446.5M | 373.3M | 269M | 235.6M |
| SG&A % of Revenue | - | 27.24% | 30.5% | 29.22% | 27.33% | 25.91% | 26.93% | 27.75% | 27.4% | 26.98% | 27.09% | 25.72% | 22.86% | 21.96% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 115.7M | -17.3M | -15.7M | -8.6M | -1.7M | -6.7M | -6M | -8M | -4.5M | -4.8M | -4M | -3.1M | -3.6M |
| Operating Income | 262.5M | 238.1M | 192.3M | 250.3M | 333.1M | 313.7M | 179.8M | 124.9M | 107.3M | 97.8M | 74M | 59.8M | 45.2M | 57.7M |
| Operating Margin % | 5.46% | 5.06% | 4.24% | 5.82% | 8.3% | 9.03% | 6.65% | 5.3% | 5.08% | 5.25% | 4.49% | 4.12% | 3.84% | 5.38% |
| Operating Income Growth % | - | 23.82% | -23.17% | -24.86% | 6.18% | 74.47% | 43.96% | 16.4% | 9.71% | 32.16% | 23.75% | 32.3% | -21.66% | - |
| EBITDA | 404M | 378.9M | 331.3M | 378M | 436.9M | 396.7M | 247M | 184.4M | 159.6M | 140.9M | 111M | 91M | 65.5M | 67.9M |
| EBITDA Margin % | 8.4% | 8.05% | 7.3% | 8.79% | 10.88% | 11.41% | 9.13% | 7.82% | 7.56% | 7.57% | 6.73% | 6.27% | 5.57% | 6.33% |
| EBITDA Growth % | 12.25% | 14.37% | -12.35% | -13.48% | 10.13% | 60.61% | 33.95% | 15.54% | 13.27% | 26.94% | 21.98% | 38.93% | -3.53% | - |
| D&A (Non-Cash Add-back) | 141.5M | 140.8M | 139M | 127.7M | 103.8M | 83M | 67.2M | 59.5M | 52.3M | 43.1M | 37M | 31.2M | 20.3M | 10.2M |
| EBIT | 262.5M | 238.1M | 192.3M | 250.3M | 333.1M | 313.7M | 179.8M | 124.9M | 107.3M | 97.8M | 74M | 59.8M | 45.2M | 57.7M |
| Net Interest Income | -35.7M | -35M | -31.9M | -27.1M | -20M | -19.2M | -31M | -33.4M | -32.1M | -25.2M | -22.1M | -11.4M | -9.1M | -100K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 35.7M | 35M | 31.9M | 27.1M | 20M | 19.2M | 31M | 33.4M | 32.1M | 25.2M | 22.1M | 11.4M | 9.1M | 100K |
| Other Income/Expense | -35.7M | -35M | -31.9M | -27.1M | -20M | -19.2M | -31M | -33.4M | -32.1M | -25.2M | -22.1M | -11.4M | -9.1M | -100K |
| Pretax Income | 226.8M | 203.1M | 160.4M | 223.2M | 313.1M | 294.5M | 148.8M | 91.5M | 75.2M | 72.6M | 51.9M | 48.4M | 36.1M | 57.6M |
| Pretax Margin % | 4.72% | 4.32% | 3.53% | 5.19% | 7.8% | 8.47% | 5.5% | 3.88% | 3.56% | 3.9% | 3.15% | 3.33% | 3.07% | 5.37% |
| Income Tax | 55.5M | 45.7M | 36M | 49.8M | 67.7M | 56.1M | 27.5M | 13.8M | 1.3M | 18M | 21.3M | 19.5M | 14.4M | 23.9M |
| Effective Tax Rate % | 24.47% | 22.5% | 22.44% | 22.31% | 21.62% | 19.05% | 18.48% | 15.08% | 1.73% | 24.79% | 41.04% | 40.29% | 39.89% | 41.49% |
| Net Income | 167.6M | 151.8M | 123.6M | 173.4M | 245.4M | 238.4M | 121.3M | 77.7M | 73.9M | 54.6M | 30.6M | 28.9M | 21.7M | 33.7M |
| Net Margin % | 3.49% | 3.23% | 2.72% | 4.03% | 6.11% | 6.86% | 4.49% | 3.3% | 3.5% | 2.93% | 1.86% | 1.99% | 1.84% | 3.14% |
| Net Income Growth % | 20.49% | 22.82% | -28.72% | -29.34% | 2.94% | 96.54% | 56.11% | 5.14% | 35.35% | 78.43% | 5.88% | 33.18% | -35.61% | - |
| Net Income (Continuing) | 171.3M | 157.4M | 124.4M | 173.4M | 245.4M | 238.4M | 121.3M | 77.7M | 73.9M | 54.6M | 30.6M | 28.9M | 21.7M | 33.7M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 24M | 19.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.83 | 3.37 | 2.71 | 3.80 | 5.36 | 5.20 | 2.75 | 1.82 | 1.73 | 1.29 | -3.01 | -1.04 | -0.29 | 2.36 |
| EPS Growth % | 23.05% | 24.35% | -28.68% | -29.1% | 3.08% | 89.09% | 51.1% | 5.2% | 34.11% | 142.86% | -189.42% | -258.62% | -112.29% | - |
| EPS (Basic) | - | 3.39 | 2.73 | 3.84 | 5.45 | 5.35 | 2.83 | 1.89 | 1.73 | 1.37 | -3.01 | -1.04 | -0.29 | 2.36 |
| Diluted Shares Outstanding | 43.82M | 45.08M | 45.65M | 45.69M | 45.78M | 45.81M | 44.09M | 42.75M | 42.63M | 42.19M | 30.32M | 14.25M | 13.82M | 14.25M |
| Basic Shares Outstanding | 43.65M | 44.83M | 45.24M | 45.11M | 45.05M | 44.58M | 42.86M | 41.22M | 42.63M | 39.75M | 30.32M | 14.21M | 13.79M | 14.25M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | 617.65% | 185.81% | - | - |
Quick answers to the most common questions about buying SITE stock.
For fiscal year 2025, SiteOne Landscape Supply, Inc. (SITE) reported total revenue of $4.70B. This represents a 338.6% increase compared to $1.07B in 2013.
SiteOne Landscape Supply, Inc. (SITE) is profitable, generating $151.8M in net income for the fiscal year ending 2025 with a net profit margin of 3.2%.
SiteOne Landscape Supply, Inc. (SITE) reported an operating income of $238.1M, resulting in an operating profit margin of 5.1%. This margin reflects the operational efficiency of the business before interest and taxes.
SiteOne Landscape Supply, Inc. (SITE) generated $1.64B in gross profit for the year, representing a gross profit margin of 34.8%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Softening end-market demand
Metrics are mathematically derived from official filings.
Revenue Growth Decelerating Into Seasonal Peaks
Based on reported quarterly figures, SiteOne's revenue growth has moderated to 2.6% in the most recent quarter, down from 4.7% in the prior quarter, suggesting top-line momentum is narrowing despite a still-positive trend.
The deceleration from 9.4% EPS growth and 4.7% revenue growth in Q2 to 2.6% in Q3 suggests demand is softening as management itself has flagged softer end markets. Because much of the reported growth appears to depend on acquisitions and pricing, investors should monitor organic daily sales to determine whether underlying volume is holding up.
Gross Margin Holding Near Historical Band
As reported in the quarterly income statements, SiteOne's gross margin of 35.5% in the latest quarter sits within a 33.0% to 36.9% range over the past ten quarters, indicating relatively stable pricing and procurement economics.
The consistency of gross margin across seasonal swings suggests the private-label mix and scale purchasing are providing some structural support. However, the Q3 margin dip from the Q2 peak indicates mix or input cost pressure may be emerging, which warrants further investigation into vendor rebate timing and commodity pass-through.
Operating Leverage Largely Absorbed by Overhead
Based on reported figures, SG&A of $368.7M in the latest quarter consumed roughly 80% of gross profit, leaving an operating margin of 7.4% that appears thin relative to the revenue base.
SG&A has risen steadily while revenue fluctuates seasonally, which suggests the branch network carries a high fixed-cost base that limits incremental profit capture. The result is that operating income is highly sensitive to volume, and investors should watch whether SG&A growth moderates as acquired branches are integrated.
Net Income Sensitive to Operating Swings
According to the reported income statements, net income swung from a $139.3M profit in Q2 to a $26.6M loss in Q1, with stock-based compensation remaining modest at $2.1M to $14.2M per quarter.
The pronounced seasonality in net income means trailing-period comparisons can be misleading without normalizing for the quarterly cycle. Stock-based compensation appears immaterial to reported earnings, though amortization of acquired intangibles, which is not separately quantified in the supplied data, may depress GAAP results relative to cash earnings.
Thin Margins Leave Little Cushion
Based on reported figures, the 3.23% trailing net margin and recent quarterly losses suggest limited earnings buffer if organic demand weakens further than management currently anticipates.
A short-seller would likely argue that growth has been sustained by acquisitions rather than organic demand, and that a further slowdown in professional contractor activity could push quarterly results back into losses. Investors should monitor whether guidance is revised downward and whether acquisition-driven growth can continue to offset softening core volumes.