Builders FirstSource (BLDR) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.27

$1.09$1.43

vs $2.38-46.5%

18 analysts

Next Qtr

$1.77

$1.41$2.27

vs $1.88-5.9%

18 analysts

Current Yr

$4.28

$3.73$5.08

vs $6.89-37.8%

18 analysts

Next Yr

$5.88

$4.96$7.15

vs $4.28+37.3%

19 analysts

Revenue Estimates

Current Qtr

$3.92B

$3.81B$4.03B

vs $4.23B-7.3%

22 analysts

Next Qtr

$4.05B

$3.74B$4.30B

vs $3.94B+2.8%

22 analysts

Current Yr

$14.83B

$14.03B$15.13B

vs $15.19B-2.4%

22 analysts

Next Yr

$15.63B

$14.57B$16.33B

vs $14.83B+5.4%

22 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for BLDR on EDGAR.

BLDR filing events and research context
Filed	Item	Context
Feb 17, 2026	business	Builders FirstSource is a leading provider of integrated building solutions for professional residential construction and remodeling, operating approximately 585 locations across 43 states. The company specializes in four primary product categories: manufactured products (including roof and floor trusses and wall panels), windows, doors and millwork, specialty building products and services, and lumber and lumber sheet goods. While primarily focused on single-family residential construction, the company is expanding into multi-family and light commercial markets. Financial performance is heavily tied to the cyclicality of housing starts, interest rates, and housing affordability. In 2025, net sales decreased 7.4% to $15.2 billion, driven by a below-normal starts environment and commodity price deflation. Key strategic trends include an industry-wide shift toward prefabricated components to mitigate skilled labor shortages and the continued consolidation of large production homebuilders. To drive growth, the company employs an aggressive acquisition strategy, investing $1.1 billion in 2025. Primary risks include volatility in lumber commodity prices and the ability to pass cost increases to customers. The company manages its capital structure through senior unsecured notes and significant share repurchase programs.
Feb 17, 2026	mda	Net sales decreased 7.4% to $15.2 billion in 2025, primarily driven by a 10.3% decline in core organic sales resulting from a below-normal single-family housing starts environment and commodity price deflation. While acquisitions added 4.6% to net sales, significant declines occurred in manufactured products (down 14.4%), windows, doors, and millwork (down 9.5%), and lumber and lumber sheet goods (down 9.2%). Only specialty building products and services grew, increasing 4.1% through acquisitions. Gross margin contracted to 30.4% from 32.8%, and SG&A expenses rose to 25.2% of sales due to reduced operating leverage, ERP system implementation, and acquisition-related costs. Net income margin fell to 2.9% from 6.5%. Interest expense increased to $273.9 million due to higher average debt balances. Total liquidity was $1.7 billion at year-end, including $1.5 billion in net excess borrowing availability. Operating cash flow declined to $1.2 billion, reflecting lower net income. The company utilized $0.8 billion for acquisitions and $0.4 billion for common stock repurchases, partially offset by $0.7 billion in proceeds from the issuance of 6.75% 2035 notes.
Feb 17, 2026	risk_factors	Builders FirstSource is heavily exposed to the cyclicality of the U.S. residential new construction and repair markets, where demand is driven by interest rates, housing affordability, and consumer confidence. A primary financial risk is the volatility of commodity prices for lumber and lumber sheet goods, which account for 26% of net sales. The company faces intensifying competition from national dealers and home center retailers, specifically Home Depot and Lowe's. Strategic success depends on the market adoption of prefabricated components and digital solutions provided through its Paradigm subsidiary, alongside the effective integration of strategic acquisitions. Operationally, the ongoing implementation of a new ERP system poses a risk of significant business disruption. The company’s financial flexibility is constrained by $4.5 billion in total debt, leaving it vulnerable to interest rate increases on its revolving credit facility and potential liquidity shortages during economic downturns. Additionally, the business faces legal risks from construction defect claims and legacy asbestos litigation, while labor shortages of qualified tradesmen may limit its ability to scale operations and meet customer demand.

Filed

Item

Context

Feb 17, 2026

business

Builders FirstSource is a leading provider of integrated building solutions for professional residential construction and remodeling, operating approximately 585 locations across 43 states. The company specializes in four primary product categories: manufactured products (including roof and floor trusses and wall panels), windows, doors and millwork, specialty building products and services, and lumber and lumber sheet goods. While primarily focused on single-family residential construction, the company is expanding into multi-family and light commercial markets. Financial performance is heavily tied to the cyclicality of housing starts, interest rates, and housing affordability. In 2025, net sales decreased 7.4% to $15.2 billion, driven by a below-normal starts environment and commodity price deflation. Key strategic trends include an industry-wide shift toward prefabricated components to mitigate skilled labor shortages and the continued consolidation of large production homebuilders. To drive growth, the company employs an aggressive acquisition strategy, investing $1.1 billion in 2025. Primary risks include volatility in lumber commodity prices and the ability to pass cost increases to customers. The company manages its capital structure through senior unsecured notes and significant share repurchase programs.

Feb 17, 2026

mda

Net sales decreased 7.4% to $15.2 billion in 2025, primarily driven by a 10.3% decline in core organic sales resulting from a below-normal single-family housing starts environment and commodity price deflation. While acquisitions added 4.6% to net sales, significant declines occurred in manufactured products (down 14.4%), windows, doors, and millwork (down 9.5%), and lumber and lumber sheet goods (down 9.2%). Only specialty building products and services grew, increasing 4.1% through acquisitions. Gross margin contracted to 30.4% from 32.8%, and SG&A expenses rose to 25.2% of sales due to reduced operating leverage, ERP system implementation, and acquisition-related costs. Net income margin fell to 2.9% from 6.5%. Interest expense increased to $273.9 million due to higher average debt balances. Total liquidity was $1.7 billion at year-end, including $1.5 billion in net excess borrowing availability. Operating cash flow declined to $1.2 billion, reflecting lower net income. The company utilized $0.8 billion for acquisitions and $0.4 billion for common stock repurchases, partially offset by $0.7 billion in proceeds from the issuance of 6.75% 2035 notes.

Feb 17, 2026

risk_factors

Builders FirstSource is heavily exposed to the cyclicality of the U.S. residential new construction and repair markets, where demand is driven by interest rates, housing affordability, and consumer confidence. A primary financial risk is the volatility of commodity prices for lumber and lumber sheet goods, which account for 26% of net sales. The company faces intensifying competition from national dealers and home center retailers, specifically Home Depot and Lowe's. Strategic success depends on the market adoption of prefabricated components and digital solutions provided through its Paradigm subsidiary, alongside the effective integration of strategic acquisitions. Operationally, the ongoing implementation of a new ERP system poses a risk of significant business disruption. The company’s financial flexibility is constrained by $4.5 billion in total debt, leaving it vulnerable to interest rate increases on its revolving credit facility and potential liquidity shortages during economic downturns. Additionally, the business faces legal risks from construction defect claims and legacy asbestos litigation, while labor shortages of qualified tradesmen may limit its ability to scale operations and meet customer demand.

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