Builders FirstSource, Inc.

Listed Company

BLDRCIK 0001316835NYSELarge AcceleratedRetail-Lumber & Other Building Materials DealersDelawareFY ends Dec 31

Period

FY 2025

Revenue

$15.19B

Net Income

$435.20M

Total Assets

$11.24B

Equity

$4.35B

Shares Out

107.56M

Op. Cash Flow

$1.22B

Business

Builders FirstSource, Inc. is a leading supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, subcontractors, remodelers and consumers. The company offers factory-built roof and floor trusses, wall panels, engineered wood, vinyl windows, pre-hung doors, custom millwork, dimensional lumber and a broad range of specialty building products, plus installation and turn‑key framing and shell construction services. Its operations are organized into geographic operating divisions aggregated into a single reportable segment. Builders FirstSource distributes products and services across the U.S. through an integrated network of manufacturing and distribution locations and a large delivery fleet, serving national, regional and local builders and contractors.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	15,191	16,400	17,097	22,726	19,894
Cost of sales	10,575	11,017	11,085	14,982	14,043
Gross margin	4,616	5,383	6,012	7,744	5,851
Selling, general and administrative expenses	3,830	3,788	3,836	3,974	3,464
Income from operations	786	1,595	2,176	3,770	2,387
Interest expense, net	274	208	192	198	136
Income before income taxes	512	1,388	1,984	3,572	2,252
Income tax expense	77	310	444	822	526
Net income	435	1,078	1,541	2,749	1,725
Basic (per share)	3.91	9.13	12.06	16.98	8.55
Diluted (per share)	3.89	9.06	11.94	16.82	8.48
Basic (shares)	111	118	128	162	202
Diluted (shares)	112	119	129	163	203

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	182	154	66	80	43
Accounts receivable, less allowances of $42,511 and $41,233, respectively	1,061	1,163	1,437	1,448	1,709
Other receivables	330	344	290	235	255
Inventories, net	1,095	1,212	1,228	1,426	1,626
Contract assets	133	151	166	184	208
Other current assets	127	117	113	124	128
Total current assets	2,927	3,141	3,301	3,498	3,968
Property, plant and equipment, net	2,204	1,962	1,804	1,568	1,385
Operating lease right-of-use assets, net	622	594	502	486	458
Goodwill	4,137	3,679	3,557	3,457	3,270
Intangible assets, net	1,184	1,104	1,298	1,551	1,603
Deferred income taxes	23	0	—	—	—
Other assets, net	140	104	38	36	29
Total assets	11,238	10,583	10,499	10,595	10,714
Accounts payable	715	868	881	803	1,093
Accrued liabilities	566	634	718	739	719
Contract liabilities	168	168	163	193	216
Current portion of operating lease liabilities	111	103	98	101	97
Current maturities of long-term debt	14	3	4	6	4
Total current liabilities	1,575	1,777	1,863	1,843	2,129
Noncurrent portion of operating lease liabilities	548	525	434	404	375
Long-term debt, net of current maturities, discounts and issuance costs	4,427	3,701	3,177	2,978	2,926
Deferred income taxes	178	148	167	270	362
Other long-term liabilities	158	135	125	138	120
Total liabilities	6,885	6,287	5,767	5,633	5,912
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $0.01 par value, 10,000 shares authorized; zero shares issued and outstanding	—	—	—	—	—
Common stock, $0.01 par value, 300,000 shares authorized; 110,585 and 113,578 shares issued and outstanding, respectivel	1	1	1	1	2
Additional paid-in capital	4,197	4,271	4,271	4,258	4,261
Retained earnings	154	24	460	704	540
Total stockholders' equity	4,352	4,296	4,732	4,963	4,802
Total liabilities and stockholders' equity	11,238	10,583	10,499	10,595	10,714

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	591	562	558	497	547
Deferred income taxes	7	−19	−102	−92	−35
Stock-based compensation expense	54	63	49	31	31
Other non-cash adjustments	3	23	−2	—	—
Receivables	182	260	−24	381	−474
Inventories	199	51	231	272	−282
Contract assets	18	15	18	24	−103
Other current assets	−9	−3	11	15	−33
Other assets and liabilities	−4	−54	−5	15	−1
Accounts payable	−167	−29	76	−314	192
Accrued liabilities	−86	−78	−10	−16	91
Contract liabilities	−7	4	−33	−33	90
Net cash provided by operating activities	1,216	1,873	2,307	3,599	1,744
Cash used for acquisitions, net of cash acquired	−1,123	−336	−239	−628	−1,206
Purchases of property, plant and equipment	−363	−381	−476	−340	−228
Proceeds from sale of property, plant and equipment	21	14	47	11	14
Cash used for equity investments	−2	−8	—	—	—
Net cash used in investing activities	−1,467	−711	−668	−957	−1,345
Borrowings under revolving credit facility	4,058	954	5,128	5,881	3,125
Repayments under revolving credit facility	−4,058	−1,418	−4,928	−6,205	−2,612
Proceeds from long-term debt and other loans	750	1,000	—	1,002	1,000
Repayments of long-term debt and other loans	−3	−3	−4	−616	−555
Payments of loan costs	−20	−13	−2	−17	−19
Payment of acquisition-related deferred and contingent consideration	−5	−14	—	—	—
Tax withholdings on and exercises of equity awards	−29	−63	−35	−34	—
Repurchase of common stock	−414	−1,517	−1,812	−2,593	−1,715
Net cash provided by (used in) financing activities	279	−1,075	−1,653	−2,604	−780
Net change in cash and cash equivalents	28	87	−14	38	−381
Cash paid for interest	261	188	186	169	106
Accrued purchases of property, plant and equipment	5	14	9	11	8
Right-of-use assets obtained in exchange for operating lease obligations	118	175	105	101	65
Amounts accrued related to repurchases of common stock	4	14	17	—	—
Accrued consideration for acquisitions	14	9	14	—	—

Filings

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