Builders FirstSource, Inc.
- Open
- 64.71
- Day high
- 65.72
- Day low
- 62.51
- Prev close
- 63.09
- Volume
- 388K
- Mkt cap
- $6.8B
- P/E (TTM)
- 68.5
- EPS (TTM)
- $0.92
- P/B
- 1.7
- P/S
- 0.5
- Yield
- —
- Per share
- —
Builders FirstSource, Inc. (BLDR) is a Industrials company listed on NYSE. The stock is down 53% over the past year. Drillr has 1 published research article covering BLDR.
Builders FirstSource, Inc. (BLDR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 11 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BLDR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $1.25 | $1.17 | -6.4% | $3.9B | -1.2% |
| Apr 30, 2026 | $0.39 | $0.27 | -30.8% | $3.3B | +3.6% |
| Feb 17, 2026 | $1.30 | $1.12 | -13.8% | $3.4B | +0.1% |
| Oct 30, 2025 | $1.75 | $1.88 | +7.4% | $3.9B | +2.2% |
| Jul 31, 2025 | $2.35 | $2.38 | +1.3% | $4.2B | +9.7% |
| May 1, 2025 | $1.50 | $1.51 | +0.7% | $3.7B | -15.0% |
| Feb 20, 2025 | $2.18 | $2.31 | +6.0% | $3.8B | -1.8% |
| Feb 22, 2024 | $2.54 | $3.55 | +39.8% | $4.2B | +3.9% |
| Nov 1, 2023 | $3.73 | $4.24 | +13.7% | $4.5B | +13.9% |
| Aug 2, 2023 | $2.51 | $3.89 | +55.0% | $4.5B | -5.2% |
| May 3, 2023 | $1.51 | $2.96 | +96.0% | $3.9B | +8.6% |
| Feb 28, 2023 | $2.36 | $3.21 | +36.0% | $4.4B | +2.5% |
BLDR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 21, 2026 | Vaughn Paulofficer: President - West Division | Grant | 3,366 | — |
| Jul 21, 2026 | O'Brien Matthew Coleyofficer: Chief Human Resources Officer | Grant | 7,406 | — |
| Jul 21, 2026 | Vance Toddofficer: President - East Division | Grant | 3,366 | — |
| Jun 16, 2026 | Narayan Gayatriofficer: President - Tech & Digital | Tax | 2,842 | $77.77 |
| Jun 2, 2026 | ALEXANDER MARK Adirector | Grant | 409 | $76.26 |
| Jun 2, 2026 | Charles Dirkson Rdirector | Grant | 409 | $76.26 |
| Jun 2, 2026 | OLEARY JAMESdirector | Grant | 491 | $76.26 |
| Jun 2, 2026 | Hayes William Bdirector | Grant | 508 | $76.26 |
| Jun 2, 2026 | Boydston Cory Jacobsdirector | Grant | 409 | $76.26 |
| Jun 2, 2026 | LEVY PAUL Sdirector | Grant | 1,049 | $76.26 |
| Jun 2, 2026 | Steinke Craig Arthurdirector | Grant | 491 | $76.26 |
| Jun 2, 2026 | Renz Mariadirector | Grant | 426 | $76.26 |
| Jun 2, 2026 | CHRISTOPHE CLEVELAND Adirector | Grant | 491 | $76.26 |
| May 18, 2026 | Rush David Edirector | Grant | 2,558 | — |
| May 18, 2026 | ALEXANDER MARK Adirector | Grant | 2,558 | — |
Source: BLDR SEC Form 4 filings, latest Jul 21, 2026. For informational purposes only — not investment advice.
See the full BLDR insider & 13F page →Builders FirstSource, Inc. company profile
Overview
Builders FirstSource, Inc. (NASDAQ:BLDR) is the largest supplier of building materials and manufactured components to the residential construction industry in the United States. Founded in 1998 and headquartered in Dallas, Texas, the company went public in 2005 and has grown through both organic expansion and strategic acquisitions to become a dominant player in the fragmented building materials distribution market. The company serves professional homebuilders, subcontractors, remodelers, and consumers across the country, offering everything from basic lumber to complex engineered building components and installation services.
Business
Builders FirstSource operates in the residential construction supply chain, functioning as a critical intermediary between manufacturers of building materials and the construction professionals who build homes. The company's business spans multiple product categories and services that are essential to residential construction. The company's core offerings include lumber and lumber sheet goods, which comprise dimensional lumber, plywood, and oriented strand board (OSB) used in the basic framing of houses. These are commodity products that form the structural skeleton of residential buildings. More strategically important are the company's manufactured products, which include wood floor and roof trusses, steel roof trusses, wall panels, stairs, and engineered wood products. These value-added components are pre-fabricated in Builders FirstSource facilities and delivered ready for installation, saving builders time and labor costs on job sites. The company also supplies building envelope products such as windows, interior and exterior doors, siding materials (vinyl, composite, and wood), exterior trims, and custom millwork products under the Synboard brand. Additionally, it provides commodity building materials including gypsum wallboard, roofing materials, insulation, metal studs, and cement products. A growing segment of the business is installation services, representing approximately 16-17% of total sales (roughly $1.7 billion annually). This includes turn-key framing, shell construction, design assistance, and professional installation of the components and materials the company sells. Value-added products and services now represent approximately 50% of the company's net sales, with the remainder being commodity lumber and building materials. The company also operates a digital platform called myBLDR.com, which allows customers to place orders, track deliveries, and access design tools online. This digital initiative has generated nearly $1 billion in orders and $134 million in incremental sales in 2024.
Revenue model
Builders FirstSource generates revenue primarily through product sales to professional customers in the residential construction industry. The company purchases raw materials and finished goods from manufacturers, adds value through processing, manufacturing, and logistics services, then sells these products at a markup to builders, contractors, and remodelers. The company's customers include large production homebuilders (like D.R. Horton, Lennar, and PulteGroup), regional and local builders, subcontractors specializing in framing and other trades, and remodeling contractors. The business model benefits from long-term relationships with these customers, often involving preferred supplier agreements and integrated supply chain partnerships. Revenue streams break down into several categories: 1. Commodity lumber and building materials sales, which operate on relatively thin margins but provide steady volume and customer relationships. 2. Value-added manufactured products like trusses and wall panels, which command higher margins due to the engineering, manufacturing, and customization involved. 3. Installation services, where the company provides labor to install the products it sells, creating additional revenue per project and deeper customer relationships. The company's margins are influenced by several key factors. Commodity price fluctuations, particularly lumber prices, significantly impact gross margins as the company must balance inventory costs with competitive pricing. Housing market conditions affect demand volume, with single-family housing starts being the primary driver. The mix between commodity and value-added products is crucial, as value-added products typically carry gross margins of 35-40% compared to 15-25% for commodity products. Operational efficiency initiatives consistently improve margins, with the company achieving $117 million in productivity savings in 2024 through facility consolidation, automation, and process improvements. Market share gains provide operating leverage, allowing fixed costs to be spread over larger revenue volumes. Conversely, margin pressure comes from competitive pricing in commodity products, higher labor and transportation costs, and the cyclical nature of residential construction which can lead to underutilized capacity during market downturns.
Competitive moat
Builders FirstSource operates in a highly fragmented industry where it has built several competitive advantages, though the strength of these moats varies across different aspects of the business. The company's primary moat comes from its scale and geographic density. As the largest player in the market, Builders FirstSource can negotiate better pricing with suppliers, spread fixed costs across larger volumes, and offer comprehensive service coverage that smaller competitors cannot match. This scale advantage is particularly pronounced in value-added manufacturing, where the company operates hundreds of truss and component manufacturing facilities. The company's customer relationships and integration provide another layer of competitive protection. Many large homebuilders prefer working with suppliers who can provide comprehensive solutions across multiple markets, handle complex logistics, and offer installation services. Builders FirstSource's ability to serve as a single-source supplier for most building materials needs creates switching costs for customers and barriers for competitors trying to displace these relationships. However, the moat is not uniformly strong across all business segments. In commodity lumber and basic building materials, the company faces intense competition and limited differentiation, making these segments more vulnerable to price competition. The barriers to entry for basic distribution are relatively low, and local competitors can often compete effectively on price and service for smaller builders. The company's digital platform and technology investments represent an emerging competitive advantage, though it's still early in development. The myBLDR.com platform and digital tools create convenience and efficiency benefits that could strengthen customer relationships over time. Potential disruption could come from several sources: direct relationships between manufacturers and large builders bypassing distributors, new entrants with more efficient business models or technology platforms, or vertical integration by large homebuilders. Additionally, economic downturns in housing can quickly erode the value of scale advantages as fixed costs become burdensome with reduced volumes.
Risks & safety
The company demonstrates a moderate margin of safety with mixed financial health indicators: • Liquidity position: Current ratio of 1.82 and $115 million in cash provides adequate short-term liquidity, though cash levels are relatively low for a company of this size. • Debt management: Debt-to-equity ratio of 1.17 indicates moderate leverage. The company maintains a target leverage ratio of 1-2x EBITDA, which appears manageable given current EBITDA of approximately $1.6 billion annually. • Cash generation: Strong free cash flow generation of $1.5 billion in 2024 demonstrates the business's ability to generate cash even in challenging market conditions. • Valuation metrics: Trading at 14.6x EV/EBITDA and 36.9x P/E ratio based on recent quarters, suggesting the stock is not cheaply valued relative to current earnings. • Cyclical risks: The business is highly sensitive to housing market cycles, with revenue declining 6% in Q1 2025 due to lower housing starts. This cyclical exposure limits the margin of safety during economic downturns. • Working capital intensity: The business requires significant working capital for inventory management, making it vulnerable to commodity price swings and demand fluctuations.
Recent development
Over the past few years, Builders FirstSource has executed several strategic initiatives focused on transforming from a traditional building materials distributor to a comprehensive solutions provider. The company has heavily invested in value-added manufacturing capabilities, spending $75 million in 2024 alone on expanding truss manufacturing facilities, upgrading existing plants, and enhancing millwork locations. This strategic shift has resulted in value-added products now representing 50% of total sales, up from lower levels in prior years. The company's digital transformation represents another major strategic pivot. The launch of the myBLDR.com platform and associated digital tools has generated nearly $1 billion in orders and $134 million in incremental sales in 2024, with management targeting $200 million in incremental digital sales for 2025. This initiative specifically targets smaller production builders who have been underserved by traditional sales approaches. Aggressive acquisition strategy has been central to the company's growth, completing 13 acquisitions in 2024 with $420 million in combined prior-year sales. Recent acquisitions include Alpine Lumber, O.C. Cluss, and Truckee Tahoe Lumber, expanding both geographic coverage and specialized capabilities. The company has deployed over $2.2 billion in capital allocation including $352 million in acquisitions. Installation services expansion has emerged as a key growth driver, now representing 16-17% of total sales (approximately $1.7 billion annually) and growing 11% year-over-year. This service offering creates deeper customer relationships and higher-margin revenue streams compared to pure product sales. The company has also undertaken significant operational efficiency initiatives, achieving $117 million in productivity savings in 2024 through facility consolidation (approximately 30 facilities), automation investments, and process improvements. These efforts have improved manufacturing efficiency by 10% in board feet per labor hour while maintaining over 90% on-time delivery rates.
BLDR company profile · for informational purposes only — not investment advice.
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