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Largest US supplier of building products and manufactured components (trusses, doors, millwork) to homebuilders.
Largest US supplier of building products and manufactured components (trusses, doors, millwork) to homebuilders.
Sells lumber and sheet goods at prices that move with the lumber market, swinging sales without changing margins much, and earns more on trusses, wall panels and doors made at its own plants and delivered to the job site. The 2021 merger with BMC created its present scale.
Moat: narrow (scale, distribution, installed base). National manufacturing/distribution scale and homebuilder relationships versus smaller regional lumberyards.
Headquarters: Irving, Texas, US · Founded: 1998 · Employees: 28,000
Size Builders FirstSource (BLDR) is a United States Industrials company (Home Improvement Chains) with a market value of $6.73B, the 979th largest of 3,117 United States companies the cockpit tracks. Shares closed at $62.54 on 6 Nov 2026.
Performance Over six months the shares fell 19.2%, against +3.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue fell 8.2% over the last twelve months (peer median +12.2%); the operating margin is 2.1% (peer median 14.3%).
Valuation It trades at 23.9× forward earnings against a peer median of 17.0× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +13 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.5 points below its cost of capital (9.0% WACC).
Credit Builders FirstSource has 4 bonds outstanding ($3.55B), rated BB- by the agencies and trading like BB+ at a weighted spread of 198 bp.
Short interest Short interest is 9.2% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $14.4B | $15.2B | $16.4B | $17.1B | $22.7B |
| Revenue growth | — | -7% | -4% | -25% | — |
| Gross profit | $4.09B | $4.41B | $5.21B | $5.85B | $7.60B |
| EBITDA | $904M | $1.38B | $2.16B | $2.73B | $4.27B |
| Net income | $40.6M | $435M | $1.08B | $1.54B | $2.75B |
| Free cash flow | $251M | $853M | $1.49B | $1.83B | $3.26B |
| Capital expenditure | $246M | $363M | $381M | $476M | $340M |
| Total debt | $5.28B | $5.10B | $4.33B | $3.71B | $3.49B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Builders FirstSource BLDR | $6.73B | -19% | -8% | 2% | 23.9× | 25.6% |
| Home Depot (The) HD | $343B | +9% | +2% | 12% | 22.4× | 9.0% |
| BlueLinx BXC | $477M | +16% | +4% | 1% | 47.7× | 13.3% |
| Boise Cascade BCC | $2.44B | -1% | +1% | 3% | 24.1× | 7.7% |
| UFP Industries UFPI | $4.41B | -5% | -1% | 5% | 17.7× | 9.9% |
| Lowe's LOW | $126B | -2% | +8% | 11% | 18.0× | 2.7% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BLDR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.2% | -0.6% | 7th highest of 21 |
| 6-month return | -19.2% | +3.0% | 5th lowest of 21 |
| Distance from 52-week high | -52.4% | -19.8% | 3rd lowest of 21 |
| Revenue growth (TTM) | -8.2% | +12.2% | lowest of 21 |
| Operating margin | 2.1% | 14.3% | 4th lowest of 21 |
| Forward P/E | 23.9× | 17.0× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 25.6% | 11.6% | 3rd most demanding of 18 |
| Growth delivered (Del g) | +12.2% | +11.6% | 8th highest of 18 |
| Hurdle (Req g minus delivered) | +13.5 pp | +1.5 pp | 3rd most demanding of 18 |
| ROIC minus cost of capital | -6.5 pp | -0.6 pp | 4th lowest of 21 |
| EV / EBITDA | 13.2× | 14.3× | 9th cheapest of 19 |
| Net debt / EBITDA | 5.8× | 1.1× | 3rd most indebted of 20 |
| Bond spread | 198 bp | 105 bp | widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Builders FirstSource BLDR | United States | $6.73B | -19% | -8% | 2% | 23.9× | 25.6% | +12.2% |
| JBT Marel JBTM | United States | $6.66B | -8% | +20% | 10% | 14.2× | 12.7% | +17.0% |
| Kratos Defense & Security Solutions KTOS | United States | $6.59B | -39% | +26% | 2% | 36.4× | n/a | n/a |
| MSA Safety MSA | United States | $6.55B | 0% | +8% | 22% | 17.5× | 8.3% | +6.8% |
| Lyft LYFT | United States | $6.47B | +19% | +11% | -2% | 21.9× | -6.1% | +21.7% |
| Loar LOAR | United States | $7.05B | +26% | +30% | 25% | 52.2× | 29.1% | +27.5% |
| Genpact G | United States | $7.07B | +30% | +7% | 16% | 9.9× | -7.5% | +6.5% |
| Timken TKR | United States | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% | +5.5% |
| Kirby KEX | United States | $6.39B | -15% | +8% | 14% | 14.6× | 6.2% | +9.2% |
| IES IESC | United States | $6.38B | +32% | +23% | 12% | 12.6× | 11.2% | +22.9% |
| GATX GATX | United States | $6.38B | -2% | +30% | 30% | 17.0× | n/a | n/a |
| BETA Technologies BETA | United States | $6.37B | +45% | +136% | -1,033% | n/a | n/a | n/a |
| ESCO Technologies ESE | United States | $7.14B | -24% | +17% | 16% | 25.8× | 25.5% | +8.4% |
| Matson MATX | United States | $6.34B | +16% | 0% | 14% | 10.9× | 11.8% | +7.0% |
| SPX Technologies SPXC | United States | $7.15B | -30% | +20% | 17% | 15.3× | 15.7% | +15.0% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% | +16.3% |
| MSC Industrial Direct MSM | United States | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% | +4.3% |
| Armstrong World Industries AWI | United States | $7.16B | +6% | +9% | 19% | 18.6× | 16.2% | +11.6% |
| Zurn Elkay Water Solutions ZWS | United States | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% | -2.4% |
| Dycom Industries DY | United States | $6.26B | -52% | +38% | 8% | 12.1× | 11.6% | +11.6% |
| Casella Waste Systems CWST | United States | $6.25B | +15% | +14% | 5% | 72.1× | 36.3% | +18.8% |
Builders FirstSource has 4 bonds outstanding with $3.55B face value. The agencies rate it BB-; its bonds trade like BB+. Weighted yield 6.66%, a spread of 198 bp over government bonds.