Builders FirstSource, Inc.
$60.68
+0.56 (+0.93%) · delayed · Nov 13, 2026
Five-year price
52w $49.67 to $131.50
- Market cap
- $6.5B
- Enterprise value
- $10.8B
- P/E
- 15.6×
- 7.3× on 3y avg EPS
- EV / EBIT
- 13.7×
- FCF yield
- 13.1%
- ROIC
- 7.8%
- Debt / equity
- 1.02
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 21.2%
- ●ROE > 15% (5y avg)5y avg ROE 31.8%
- ●Stable operating marginsMargin volatility 3.8% (σ, 5y)
- ●Earnings convert to cashFCF / net income 132% (5y avg)
- ●Growing revenueRevenue CAGR 5y 12.2%
- ●Shrinking share countDiluted shares -5.2% over 5y
Value
40
- ○P/E below 15P/E 15.6
- ○EV/EBIT below 12EV/EBIT 13.7
- ●FCF yield above 6%FCF yield 13.1%
- ○Price below Graham NumberGraham Number $59.50
- ●P/B below 3P/B 1.5
Safety
20
- ○Debt / equity below 0.5D/E 1.02
- ○Debt payable in < 4 yrs of earningsNet debt $4.2B
- ○Interest coverage > 8xCoverage 3.0x
- ●Current ratio > 1.5Current ratio 1.86
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
71
- ●Adequate size (revenue > $2B)Revenue $15.2B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.86
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 639%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 7.3
- ●P/E × P/B ≤ 22.5Product 11.0
Valuation lab
What do you have to believe?
At $60.68, the market is pricing in about −0.5% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $4.2B · 108M shares · 5y revenue CAGR 12.2%
Intrinsic value
$216.95
Price
$60.68
Margin of safety
72%
What the price implies
The market is paying for −0.5% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
64% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6,367 | 7,034 | 7,725 | 7,280 | 8,559 | 19,894 | 22,726 | 17,097 | 16,400 | 15,191 |
| Gross profit | 1,597 | 1,727 | 1,923 | 1,977 | 2,223 | 5,851 | 7,744 | 6,012 | 5,383 | 4,616 |
| Operating income | 236 | 285 | 369 | 392 | 544 | 2,387 | 3,770 | 2,176 | 1,595 | 786 |
| Operating margin | 3.7% | 4.1% | 4.8% | 5.4% | 6.4% | 12.0% | 16.6% | 12.7% | 9.7% | 5.2% |
| Pre-tax income | 22 | 92 | 261 | 283 | 408 | 2,252 | 3,572 | 1,984 | 1,388 | 512 |
| Income tax | (123) | 53 | 56 | 61 | 95 | 526 | 822 | 444 | 310 | 77 |
| Net income | 144 | 39 | 205 | 222 | 314 | 1,725 | 2,749 | 1,541 | 1,078 | 435 |
| EPS (diluted) | 1.27 | 0.34 | 1.76 | 1.90 | 2.66 | 8.48 | 16.82 | 11.94 | 9.06 | 3.89 |
| Diluted shares | 114 | 116 | 117 | 117 | 118 | 203 | 163 | 129 | 119 | 112 |
Who owns it