Builders FirstSource, Inc（BLDR）の決算・業績分析
Builders FirstSource, Incの2025年有価証券報告書をAI分析。売上高$15.2B(-7.4%)。営業利益$786M。Consumer Discretionary。
目次
Builders FirstSource, Incの2025年度 業績サマリー
Builders FirstSource, Inc（証券コード: BLDR）の2025年度決算・業績分析。売上高は$15.2B（前年比-7.4%）。営業利益は$786M（前年比-50.7%）。純利益は$435M（前年比-59.6%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Builders FirstSource, Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- BLDR achieved $22.7B in revenue (+14.2% YoY) and $2.7B net income (+59.3% YoY), driven by strong operational performance and margin expansion.
- Operating income surged to $3.8B (+57.9% YoY), with gross margin at 34.1% and net margin at 12.1%, reflecting improved cost control and pricing power.
- Free cash flow reached $3.3B, supported by $3.6B operating cash flow and $340M CapEx, while $2.6B in share repurchases underscored robust shareholder returns.
Builders FirstSource, Incの売上高変化の要因
- •BLDR reported $22.7B in revenue for FY2024, a 14.2% YoY increase, driven by growth in structural products and construction services. The 5-year revenue CAGR of 17.2% reflects sustained expansion. Operating income grew to $3.8B (+57.9% YoY), with net income rising to $2.7B (+59.3% YoY). The company’s revenue growth is supported by its diversified product portfolio and efficient operations, though segment-specific performance details are not disclosed in the provided data.
Builders FirstSource, Incの営業利益変化の要因
- •BLDR achieved a gross margin of 34.1% and operating margin of 16.6%, with net margin at 12.1%. Operating income increased by 57.9% YoY to $3.8B, while EBITDA reached $4.3B (18.8% of revenue). Gross profit expanded to $7.7B, reflecting improved cost management and pricing. Net income surged to $2.7B (+59.3% YoY), driven by operational efficiencies and strong demand in the construction sector.
Builders FirstSource, Incの事業リスクと対応
Dependency on residential homebuilding and the U.S. economy (10-K).
Cyclical market pressures affecting building products (10-K).
High competition in a fragmented industry (10-K).
Fluctuations in lumber prices (26% of sales) (10-K).
Regulatory restrictions limiting building lots and increasing costs (10-K).
Builders FirstSource, Incの事業内容
Builders FirstSource, Inc. (BLDR) is a leading supplier and manufacturer of building materials, manufactured components, and construction services for professional homebuilders and contractors. The company generates revenue through the sale of structural products (e.g., roof/floor trusses, wall panels, vinyl windows) and construction-related services like installation and turn-key framing. Competitive advantages include integrated solutions (manufacturing + distribution + installation), prefabricated components for efficiency, and digital tools via Paradigm. Key customers are professional homebuilders, sub-contractors, remodelers, and multi-family builders, with no significant customer concentration. The industry is highly fragmented, with competition from large national dealers, regional distributors, and smaller suppliers.
Builders FirstSource, IncのAI業績分析レポート（2024年度）
Builders FirstSource, Inc. (BLDR) Annual Report Analysis FY2024
Highlights
Business Overview
BLDR is a leading supplier of building materials and construction services for professional homebuilders. Key products include trusses, vinyl windows, and engineered wood, while services encompass installation and turn-key framing. Competitive advantages include integrated solutions and digital tools via Paradigm. The company operates in a fragmented industry with no significant customer concentration.
Revenue Analysis
FY2024 revenue of $22.7B reflects a 14.2% YoY increase. The 5-year revenue CAGR of 17.2% underscores sustained growth. Operating income rose to $3.8B (+57.9% YoY), with net income reaching $2.7B (+59.3% YoY). The company’s diversified product portfolio and operational efficiency drove these results.
Profitability Analysis
BLDR achieved a gross margin of 34.1% and operating margin of 16.6%, with net margin at 12.1%. Operating income increased by 57.9% YoY to $3.8B, while EBITDA reached $4.3B (18.8% of revenue). Net income surged to $2.7B (+59.3% YoY), driven by cost control and demand in the construction sector.
Balance Sheet Analysis
Equity ratio: 45.7%, D/E ratio: 1.20x, current ratio: 1.77x. Total equity: $4.8B, total assets: $10.5B. ROE: 57.2%, ROA: 26.2%, ROIC: 34.5%. Cash balances: $66M.
Cash Flow Analysis
Operating cash flow: $3.6B, free cash flow: $3.3B (OCF - CapEx $340M). Investing cash flow: -$957M. Financing cash flow: -$2.6B (share repurchases: $2.6B). D&A: $497M.
Working Capital Analysis
CCC: 32 days, receivables: 23 days, inventory: 30 days, payables: 22 days.
Risks
Outlook
N/A. Management guidance and forward-looking trends are not explicitly mentioned in the provided 10-K or XBRL data.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 7.7B | 7.3B | 8.6B | 19.9B | 22.7B | 17.1B |
| Operating Income | 369M | 392M | 544M | 2.4B | 3.8B | 2.2B |
| Net Income | 205M | 222M | 314M | 1.7B | 2.7B | 1.5B |
| Total Assets | 3.2B | 4.2B | 10.7B | 10.6B | 10.5B | 10.6B |
| Total Equity | 376M | 596M | 825M | 1.2B | 4.8B | 5.0B |
| Operating Cash Flow | 283M | 504M | 260M | 1.7B | 3.6B | 2.3B |
Consumer Discretionaryの企業一覧
Builders FirstSource, Incと同じ「Consumer Discretionary」セクターの企業