Builders FirstSource Inc BLDR

IndustrialsHomebuilding & Construction SuppliesUnited States of America

Last close 63.61 USD on Nov 3, 2026, −38.2% year to date

Quant rating

Quant rating D Rank 397 of 486 in Industrials

Growth D 399 of 486
Valuation C 299 of 486
Quality C 279 of 486
Revisions D 429 of 486
Momentum C 329 of 486

Wall Street consensus Hold (2.70)Average target 68.59 USD +7.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 6.8B
Enterprise value: 11.4B
52-week range: 49.72 – 131.39
3-year range: 49.72 – 211.12
Dividend yield: –
Beta (5 years): 1.44
Shares outstanding: 108M
Next earnings: Feb 15, 2027

About the company

Builders FirstSource, Inc. is a provider of building materials for professional builders in new residential construction and repair and remodeling. The Company delivers integrated home-building solutions by manufacturing, supplying, and installing a range of structural and related building products. Its manufacturing facilities produce factory-built roof and floor trusses, wall panels, vinyl windows, custom millwork and trim, manufactured and semi-custom modular homes. It also assembles interior and exterior doors into pre-hung units for easy installation. Additionally, it distributes a range of building products, including lumber, sheet goods, windows, doors, millwork, and specialty items. It serves markets such as professional installation, turnkey framing, and shell construction. It also serves and supplies regional production and local custom homebuilders as well as repair and remodeling contractors and multifamily builders.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	15,191	16,400	17,097	22,726	19,894	–
Revenue growth	−7.4%	−4.1%	−24.8%	14.2%	132.4%	12.2%
EPS (basic, normalized)	6.89	11.56	14.59	18.71	10.32	–
EPS growth	−40.4%	−20.8%	−22.0%	81.3%	–	–
Gross margin	30.4%	32.8%	35.2%	34.1%	29.4%	32.4%
Net margin	2.9%	6.6%	9.0%	12.1%	8.7%	7.8%
ROE	10.1%	23.9%	31.8%	56.3%	57.9%	36.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	55.0
Current ratio	1.85x
Long-term debt (mil)	4,615
Net debt (mil)	4,564
Total equity (mil)	4,081
Net debt / equity	1.12x
Net debt / EBITDA	2.88x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	15,191	−7.4%	0.8x	1,584	−31.5%	7.2x	6.89	−40.4%	9.2x
2026	14,377	−5.4%	0.8x	1,090	−31.2%	10.5x	3.40	−50.6%	18.7x
2027	14,116	−1.8%	0.8x	983	−9.8%	11.6x	2.81	−17.4%	22.6x
2028	14,642	+3.7%	0.8x	1,117	+13.7%	10.2x	3.12	+11.1%	20.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	14,377	+0.2%	+0.2%	−3.0%	3.40	+8.0%	+6.9%	−23.4%
2027	14,116	−5.4%	−5.5%	−9.7%	2.81	−36.4%	−38.6%	−53.8%
2028	14,642	−6.6%	−7.3%	−11.9%	3.12	−45.9%	−46.7%	−59.3%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	3,891	4,456	4,232	3,280	3,657	4,234	3,941	3,358	3,287	3,863
Sales mean (mil)	3,824	4,483	4,451	3,901	3,656	4,277	3,852	3,459	3,176	3,922
Surprise	+1.8%	−0.6%	−4.9%	−15.9%	0.0%	−1.0%	+2.3%	−2.9%	+3.5%	−1.5%
EPS reported	2.65	3.50	3.07	2.31	1.51	2.38	1.88	1.12	0.27	1.17
EPS mean	2.30	3.02	2.98	2.09	1.32	2.28	1.64	1.24	0.37	1.27
Surprise	+15.3%	+15.8%	+3.1%	+10.5%	+14.7%	+4.4%	+14.7%	−9.8%	−26.9%	−7.7%

Peer comparison Homebuilding & Construction Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BLDR Builders FirstSource Inc	6.8B	2.88x	2.9%	1.68x	18.7x	22.6x	10.5x	11.6x
FERG Ferguson Enterprises Inc.	46.8B	1.38x	6.1%	7.55x	21.2x	19.1x	14.4x	13.5x
DHI D.R. Horton, Inc.	39.4B	1.23x	10.5%	1.71x	14.9x	13.1x	11.9x	10.9x
PHM PulteGroup, Inc.	23.4B	0.25x	12.8%	1.79x	13.6x	13.4x	9.6x	9.7x
LEN Lennar Corporation	20.5B	1.48x	6.0%	0.95x	17.4x	16.6x	12.5x	12.5x
NVR NVR, Inc.	15.9B	−0.13x	12.8%	4.64x	17.9x	17.4x	12.3x	12.6x
Mean		1.18x	8.5%	3.05x	17.3x	17.0x	11.9x	11.8x
Median		1.31x	8.3%	1.75x	17.7x	17.0x	12.1x	12.1x

Technical analysis

1M+13.1%
3M−12.2%
1Y−43.7%
3Y−49.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Builders FirstSource Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	15,191	16,400	17,097	22,726	19,894	8,559
Cost of revenue	10,575	11,017	11,085	14,982	14,043	6,336
Gross profit	4,616	5,383	6,012	7,744	5,851	2,223
Selling, general & administrative expenses	3,830	3,788	3,836	3,974	3,446	1,679
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	17.6	–
Other operating expenses	0	0	0	0	0	0
Operating income	786	1,595	2,176	3,770	2,387	544
Net interest income (expense)	−274	−208	−192	−198	−136	−136
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	512	1,388	1,984	3,572	2,252	408
Provision for taxes	77.2	310	444	822	526	94.6
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	435	1,078	1,541	2,749	1,725	314
Extraordinary items	–	–	–	–	–	–
Net income	435	1,078	1,541	2,749	1,725	314
EBIT, normalized	786	1,595	2,176	3,798	2,413	573
EBITDA, normalized	1,378	2,157	2,735	4,295	2,961	690
Basic EPS, normalized	6.89	11.56	14.59	18.71	10.32	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Builders FirstSource Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	182	154	66.2	80.4	42.6	424
Receivables	1,524	1,659	1,893	1,867	2,171	956
Total inventory	1,095	1,212	1,228	1,426	1,626	785
Prepaid expenses	–	–	–	–	–	–
Other current assets	127	117	113	124	128	58.9
Total current assets	2,927	3,141	3,301	3,498	3,968	2,224
Property, plant & equipment	2,826	2,556	2,306	2,053	1,843	1,024
Goodwill	4,137	3,679	3,557	3,457	3,270	785
Intangibles	1,184	1,104	1,298	1,551	1,603	120
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	163	104	38.0	36.4	29.2	21.1
Total assets	11,238	10,583	10,499	10,595	10,714	4,174
Liabilities
Accounts payable	715	868	881	803	1,093	600
Payable/accrued	–	–	–	–	–	–
Accrued expenses	677	738	816	840	813	370
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	14.3	3.5	3.6	6.4	3.7	27.3
Other current liabilities	168	168	163	193	218	77.0
Total current liabilities	1,575	1,777	1,863	1,843	2,129	1,075
Long-term debt	4,427	3,701	3,177	2,978	2,926	1,597
Minority interest	–	–	–	–	–	–
Other liabilities	883	809	726	812	857	349
Total liabilities	6,885	6,287	5,767	5,633	5,912	3,021
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	1.1	1.1	1.2	1.4	1.8	1.2
Additional paid-in capital	4,197	4,271	4,271	4,258	4,261	589
Retained earnings (accumulated deficit)	154	24.1	460	704	540	562
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	4,352	4,296	4,732	4,963	4,802	1,153
Total liabilities & shareholders' equity	11,238	10,583	10,499	10,595	10,714	4,174

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Builders FirstSource Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	435	1,078	1,541	2,749	1,725	314
Depreciation, depletion & amortization	591	562	558	497	547	117
Deferred taxes	6.8	−19.0	−102	−92.5	−34.6	16.6
Non-cash items	56.5	96.1	35.4	101	6.0	26.2
Changes in working capital	126	156	275	345	−501	−213
Cash from operations	1,216	1,873	2,307	3,599	1,744	260
Investing activities
Capital expenditures	−363	−381	−476	−340	−228	−112
Other investing cash flows	−1,105	−330	−192	−617	−1,117	−24.1
Cash from investing	−1,467	−711	−668	−957	−1,345	−136
Financing activities
Financing cash flow items	−53.8	−90.0	−1.9	−37.5	−24.4	−36.5
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	333	−985	−1,651	−2,566	−756	322
Cash from financing	279	−1,075	−1,653	−2,604	−780	286
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	28.1	87.5	−14.3	37.8	−381	410
Free cash flow	853	1,492	1,831	3,259	1,516	148

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.