BLD · Topbuild Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $5.41B | $5.33B | $5.19B | $5.01B | $3.49B | $2.72B |
| Cost of Revenue | $3.84B | $3.70B | $3.59B | $3.52B | $2.51B | $1.97B |
| Gross Profit | $1.57B | $1.62B | $1.60B | $1.49B | $974.39M | $746.36M |
| R&D | - | - | - | - | - | - |
| SG&A | $777.06M | $738.58M | $725.00M | $689.55M | $497.97M | $391.31M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $169.37M | $140.49M | $132.88M | $123.33M | $79.39M | $62.41M |
| Operating Income | $791.93M | $886.34M | $878.83M | $797.16M | $476.42M | $355.05M |
| Interest Expense | $103.77M | $73.09M | $74.61M | $56.72M | $29.14M | $32.46M |
| Income Tax | $181.86M | $218.19M | $211.23M | $186.15M | $109.43M | $76.07M |
| Net Income | $521.73M | $622.60M | $614.25M | $555.99M | $324.02M | $247.02M |
| EPS - Basic | $18.41 | $20.41 | $19.44 | $17.26 | $9.88 | $7.50 |
| EPS - Diluted | $18.28 | $20.29 | $19.33 | $17.14 | $9.78 | $7.42 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $184.74M | $400.32M | $848.57M | $240.07M | $139.78M | $330.01M |
| Accounts Receivable | $894.41M | $751.61M | $799.01M | $836.07M | $668.42M | $427.34M |
| Inventory | $505.17M | $406.66M | $364.73M | $438.64M | $352.80M | $161.37M |
| Accounts Payable | $440.21M | $456.45M | $469.58M | $487.11M | $461.92M | $331.71M |
| Current Assets | $1.63B | $1.60B | $2.05B | $1.55B | $1.19B | $936.40M |
| Total Assets | $6.61B | $4.74B | $5.16B | $4.61B | $4.26B | $2.82B |
| Current Liabilities | $844.82M | $767.18M | $771.54M | $789.64M | $733.43M | $496.48M |
| Long-term Debt | $2.78B | $1.33B | $1.37B | $1.42B | $1.45B | $683.40M |
| Total Liabilities | $4.29B | $2.53B | $2.60B | $2.68B | $2.62B | $1.47B |
| Stockholders' Equity | $2.32B | $2.21B | $2.56B | $1.93B | $1.64B | $1.35B |
| Retained Earnings | $3.52B | $2.99B | $2.37B | $1.76B | $1.20B | $876.66M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $756.32M | $776.03M | $849.41M | $495.80M | $403.02M | $357.88M |
| Investing Cash Flow | ($1.99B) | ($203.52M) | ($198.17M) | ($93.91M) | ($1.32B) | ($121.88M) |
| Financing Cash Flow | $1.02B | ($1.02B) | ($43.84M) | ($300.07M) | $729.01M | ($90.80M) |
| CapEx | $59.43M | $69.35M | $64.00M | $76.38M | $55.55M | $40.94M |
| Free Cash Flow | $696.89M | $706.68M | $785.41M | $419.42M | $347.48M | $316.95M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 29.0% | 30.5% | 30.9% | 29.7% | 27.9% | 27.5% |
| Operating margin | 14.6% | 16.6% | 16.9% | 15.9% | 13.7% | 13.1% |
| EBITDA margin | 17.8% | 19.3% | 19.5% | 18.4% | 15.9% | 15.4% |
| Net margin | 9.6% | 11.7% | 11.8% | 11.1% | 9.3% | 9.1% |
| Free cash flow margin | 12.9% | 13.3% | 15.1% | 8.4% | 10.0% | 11.7% |
| FCF / Net income | 1.34 | 1.14 | 1.28 | 0.75 | 1.07 | 1.28 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 14.4% | 13.9% | 14.0% | 13.8% | 14.3% | 14.4% |
| Effective tax rate | 25.8% | 26.0% | 25.6% | 25.1% | 25.2% | 23.5% |
| Return on assets | 7.9% | 13.1% | 11.9% | 12.1% | 7.6% | 8.8% |
| Return on equity | 22.5% | 28.2% | 24.0% | 28.8% | 19.8% | 18.3% |
| Return on invested capital | 11.5% | 18.6% | 16.6% | 17.8% | 11.5% | 13.4% |
| Liquidity | ||||||
| Current ratio | 1.94 | 2.08 | 2.66 | 1.96 | 1.62 | 1.89 |
| Quick ratio | 1.34 | 1.55 | 2.18 | 1.41 | 1.14 | 1.56 |
| Cash ratio | 0.22 | 0.52 | 1.10 | 0.30 | 0.19 | 0.66 |
| Leverage | ||||||
| Debt / Equity | 1.20 | 0.60 | 0.54 | 0.73 | 0.89 | 0.51 |
| Debt / Assets | 0.42 | 0.28 | 0.27 | 0.31 | 0.34 | 0.24 |
| Debt / EBITDA | 2.90 | 1.29 | 1.36 | 1.54 | 2.62 | 1.64 |
| Interest coverage | 7.6x | 12.1x | 11.8x | 14.1x | 16.3x | 10.9x |
| Equity multiplier | 2.85 | 2.14 | 2.01 | 2.39 | 2.60 | 2.09 |
| Liabilities / Assets | 0.65 | 0.53 | 0.50 | 0.58 | 0.62 | 0.52 |
| Efficiency | ||||||
| Asset turnover | 0.82 | 1.13 | 1.01 | 1.09 | 0.82 | 0.97 |
| Inventory turnover | 7.60 | 9.11 | 9.85 | 8.03 | 7.12 | 12.22 |
| Days sales outstanding | 60d | 51d | 56d | 61d | 70d | 57d |
| Days inventory outstanding | 48d | 40d | 37d | 45d | 51d | 30d |
| Days payable outstanding | 42d | 45d | 48d | 50d | 67d | 61d |
| Cash conversion cycle | 67d | 47d | 45d | 56d | 54d | 26d |
| Valuation | ||||||
| P / E | 22.8x | 15.3x | 19.4x | 9.1x | 28.2x | 24.8x |
| P / B | 5.1x | 4.3x | 4.6x | 2.6x | 5.6x | 4.5x |
| P / S | 2.2x | 1.8x | 2.3x | 1.0x | 2.6x | 2.3x |
| EV / EBITDA | 15.1x | 10.2x | 12.3x | 6.8x | 18.8x | 15.5x |
| Growth | ||||||
| Revenue growth (YoY) | 1.5% | 2.6% | 3.7% | 43.7% | 28.3% | 3.6% |
| Revenue CAGR (3y) | 2.6% | 15.2% | 24.1% | 24.0% | 26.0% | 12.6% |
| Revenue CAGR (5y) | 14.8% | 15.2% | 24.4% | 21.3% | 14.9% | 12.4% |
| Gross profit growth (YoY) | -3.4% | 1.3% | 7.9% | 52.6% | 30.6% | 9.6% |
| Operating income growth (YoY) | -10.7% | 0.9% | 10.2% | 67.3% | 34.2% | 22.6% |
| Net income growth (YoY) | -16.2% | 1.4% | 10.5% | 71.6% | 31.2% | 29.3% |
| EPS growth (YoY) | -9.9% | 5.0% | 12.8% | 75.3% | 31.8% | 33.5% |
| EPS CAGR (3y) | 2.2% | 27.5% | 37.6% | 45.5% | 37.3% | 19.8% |
| EPS CAGR (5y) | 19.8% | 29.6% | 38.6% | 31.7% | 38.5% | 28.8% |
| FCF growth (YoY) | -1.4% | -10.0% | 87.3% | 20.7% | 9.6% | 40.1% |
| FCF CAGR (5y) | 17.1% | 25.6% | 46.9% | 52.1% | 40.9% | 49.8% |
| Book value growth (YoY) | 4.8% | -13.8% | 32.9% | 17.9% | 21.3% | 17.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$3.37B totalInstallation Segment$2.47B · 73.2%
Distribution Segment$902.13M · 26.8%
Product / service
$3.18B totalInsulation And Accessories$2.36B · 74.3%
All Other Products$260.36M · 8.2%
Glass And Windows$231.06M · 7.3%
Roofing Materials$215.82M · 6.8%
Rain Gutters$111.11M · 3.5%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.95
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Construction - Special Trade Contractors
Comparing TopBuild Corp against the 5 most active filers in the same SIC group.