TopBuild (BLD)
Market Price (3/7/2026): $386.79 | Market Cap: $10.8 BilSector: Consumer Discretionary | Industry: Homebuilding
TopBuild (BLD)
Market Price (3/7/2026): $386.79Market Cap: $10.8 BilSector: Consumer DiscretionaryIndustry: Homebuilding
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% | Weak multi-year price returns2Y Excs Rtn is -37% | Key risksBLD key risks include [1] its high exposure to the cyclical residential construction market, Show more. |
| Attractive yieldFCF Yield is 6.4% | ||
| Low stock price volatilityVol 12M is 40% | ||
| Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, and Sustainable Resource Management. Themes include Energy Efficient Building Materials, and Resource Efficiency Solutions. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Attractive yieldFCF Yield is 6.4% |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, and Sustainable Resource Management. Themes include Energy Efficient Building Materials, and Resource Efficiency Solutions. |
| Weak multi-year price returns2Y Excs Rtn is -37% |
| Key risksBLD key risks include [1] its high exposure to the cyclical residential construction market, Show more. |
Qualitative Assessment
AI Analysis | Feedback
TopBuild (BLD) stock has lost about 15% since 11/30/2025 because of the following key factors:
1. TopBuild's Q4 2025 earnings and 2026 outlook indicated a challenging residential market. The company reported Q4 2025 EPS of $4.50, missing some analyst forecasts (e.g., by $0.04 compared to a $4.54 estimate). While revenue met some expectations at $1.49 billion, the stock reacted negatively on February 26, 2026, declining 3.77% in pre-market trading. Crucially, TopBuild's 2026 outlook projects a "mid-single digit decline" in residential sales, acknowledging "ongoing uncertainty in the residential new construction market". This weakness in residential new construction in Q4 2025 "more than offset" growth driven by acquisitions.
2. Deteriorating conditions in the broader U.S. housing market contributed to investor concern. The U.S. housing market experienced a material slowdown in the latter half of 2025. Forecasts from January 2026 predicted a 1% decline in housing starts for 2026, totaling 1.34 million units. Mortgage rates are expected to remain elevated above 6% beyond 2027, hindering new construction growth, and U.S. house prices are projected to stall at 0% in 2026. Additionally, consumer confidence fell to its second-lowest recorded reading in December 2025 due to economic uncertainty and inflation.
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1. TopBuild's Q4 2025 earnings and 2026 outlook indicated a challenging residential market. The company reported Q4 2025 EPS of $4.50, missing some analyst forecasts (e.g., by $0.04 compared to a $4.54 estimate). While revenue met some expectations at $1.49 billion, the stock reacted negatively on February 26, 2026, declining 3.77% in pre-market trading. Crucially, TopBuild's 2026 outlook projects a "mid-single digit decline" in residential sales, acknowledging "ongoing uncertainty in the residential new construction market". This weakness in residential new construction in Q4 2025 "more than offset" growth driven by acquisitions.
2. Deteriorating conditions in the broader U.S. housing market contributed to investor concern. The U.S. housing market experienced a material slowdown in the latter half of 2025. Forecasts from January 2026 predicted a 1% decline in housing starts for 2026, totaling 1.34 million units. Mortgage rates are expected to remain elevated above 6% beyond 2027, hindering new construction growth, and U.S. house prices are projected to stall at 0% in 2026. Additionally, consumer confidence fell to its second-lowest recorded reading in December 2025 due to economic uncertainty and inflation.
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Stock Movement Drivers
Fundamental Drivers
The -14.4% change in BLD stock from 11/30/2025 to 3/6/2026 was primarily driven by a -11.0% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 452.50 | 387.24 | -14.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,236 | 5,409 | 3.3% |
| Net Income Margin (%) | 10.8% | 9.6% | -11.0% |
| P/E Multiple | 22.3 | 20.7 | -7.2% |
| Shares Outstanding (Mil) | 28 | 28 | 0.3% |
| Cumulative Contribution | -14.4% |
Market Drivers
11/30/2025 to 3/6/2026| Return | Correlation | |
|---|---|---|
| BLD | -14.4% | |
| Market (SPY) | -1.6% | 40.7% |
| Sector (XLY) | -3.2% | 37.6% |
Fundamental Drivers
The -8.0% change in BLD stock from 8/31/2025 to 3/6/2026 was primarily driven by a -15.4% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 420.76 | 387.24 | -8.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,216 | 5,409 | 3.7% |
| Net Income Margin (%) | 11.4% | 9.6% | -15.4% |
| P/E Multiple | 20.1 | 20.7 | 3.2% |
| Shares Outstanding (Mil) | 28 | 28 | 1.6% |
| Cumulative Contribution | -8.0% |
Market Drivers
8/31/2025 to 3/6/2026| Return | Correlation | |
|---|---|---|
| BLD | -8.0% | |
| Market (SPY) | 4.5% | 40.3% |
| Sector (XLY) | -1.1% | 38.3% |
Fundamental Drivers
The 26.4% change in BLD stock from 2/28/2025 to 3/6/2026 was primarily driven by a 43.7% change in the company's P/E Multiple.| (LTM values as of) | 2282025 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 306.39 | 387.24 | 26.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,330 | 5,409 | 1.5% |
| Net Income Margin (%) | 11.7% | 9.6% | -17.4% |
| P/E Multiple | 14.4 | 20.7 | 43.7% |
| Shares Outstanding (Mil) | 29 | 28 | 5.0% |
| Cumulative Contribution | 26.4% |
Market Drivers
2/28/2025 to 3/6/2026| Return | Correlation | |
|---|---|---|
| BLD | 26.4% | |
| Market (SPY) | 14.2% | 44.5% |
| Sector (XLY) | 6.7% | 50.3% |
Fundamental Drivers
The 86.5% change in BLD stock from 2/28/2023 to 3/6/2026 was primarily driven by a 75.4% change in the company's P/E Multiple.| (LTM values as of) | 2282023 | 3062026 | Change |
|---|---|---|---|
| Stock Price ($) | 207.59 | 387.24 | 86.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,009 | 5,409 | 8.0% |
| Net Income Margin (%) | 11.1% | 9.6% | -13.1% |
| P/E Multiple | 11.8 | 20.7 | 75.4% |
| Shares Outstanding (Mil) | 32 | 28 | 13.3% |
| Cumulative Contribution | 86.5% |
Market Drivers
2/28/2023 to 3/6/2026| Return | Correlation | |
|---|---|---|
| BLD | 86.5% | |
| Market (SPY) | 76.0% | 48.3% |
| Sector (XLY) | 61.0% | 51.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BLD Return | 50% | -43% | 139% | -17% | 34% | -2% | 122% |
| Peers Return | 58% | -17% | 97% | 5% | -6% | 8% | 172% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| BLD Win Rate | 67% | 33% | 75% | 50% | 50% | 33% | |
| Peers Win Rate | 69% | 46% | 65% | 60% | 44% | 58% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| BLD Max Drawdown | -2% | -49% | 0% | -17% | -11% | -2% | |
| Peers Max Drawdown | -4% | -30% | -3% | -9% | -26% | -2% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IBP, OC, BLDR, CSL. See BLD Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/6/2026 (YTD)
How Low Can It Go
| Event | BLD | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -49.4% | -25.4% |
| % Gain to Breakeven | 97.6% | 34.1% |
| Time to Breakeven | 273 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -52.3% | -33.9% |
| % Gain to Breakeven | 109.5% | 51.3% |
| Time to Breakeven | 72 days | 148 days |
| 2018 Correction | ||
| % Loss | -51.4% | -19.8% |
| % Gain to Breakeven | 105.7% | 24.7% |
| Time to Breakeven | 221 days | 120 days |
Compare to IBP, OC, BLDR, CSL
In The Past
TopBuild's stock fell -49.4% during the 2022 Inflation Shock from a high on 12/27/2021. A -49.4% loss requires a 97.6% gain to breakeven.
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About TopBuild (BLD)
TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, afterpaint products, fireproofing products, garage doors, fireplaces, closet shelving, roofing materials, and other products; and insulation installation services. The company also offers various services and tools to assist builders in applying the principles of building science to new home construction, which include pre-construction plan reviews, diagnostic testing, and various inspection services; and home energy rating services. In addition, it distributes building and mechanical insulation, insulation accessories, and other building product materials for the residential, commercial, and industrial end markets. The company serves single-family homebuilders, single-family custom builders, multi-family builders, commercial general contractors, remodelers, and individual homeowners, as well as insulation contractors, gutter contractors, weatherization contractors, other contractors, dealers, metal building erectors, and modular home builders. It operates approximately 235 installation branches and 175 distribution centers in the United States and Canada. The company was formerly known as Masco SpinCo Corp. and changed its name to TopBuild Corp. in March 2015. TopBuild Corp. was incorporated in 2015 and is headquartered in Daytona Beach, Florida.
AI Analysis | Feedback
Here are 1-2 brief analogies to describe TopBuild (BLD):
- Think of them as **Ferguson** for insulation and other specialty building materials, including installation services.
- They are like the **ABC Supply Co.** for interior building products and insulation installation.
AI Analysis | Feedback
- Insulation Installation Services: Provides professional installation of insulation and other building products for residential and commercial construction projects.
- Building Material Distribution: Distributes a wide range of insulation and other building materials, such as gutters, sealants, and fireplaces, to construction contractors and builders.
AI Analysis | Feedback
TopBuild (BLD) primarily sells its products and services to other companies, operating in a Business-to-Business (B2B) model. Due to the highly fragmented nature of its customer base across numerous general contractors, homebuilders, and specialty contractors, TopBuild does not have any single major customer that represents more than 10% of its consolidated net sales. Therefore, specific names of large public customer companies are not disclosed.
Instead, TopBuild serves a broad range of customers within the construction industry. These major customer categories include:
- Residential Homebuilders: Companies involved in the construction of new single-family and multi-family residential homes. These range from large national builders to smaller regional and local firms.
- Commercial and Industrial Contractors: Companies undertaking new construction and renovation projects for commercial, industrial, and institutional buildings.
- Specialty Contractors: This category primarily includes insulation contractors, drywall contractors, and other construction subcontractors who purchase insulation and other building materials for their own projects, particularly through TopBuild's Specialty Distribution segment.
- Repair and Remodel Contractors: Businesses focused on renovation, upgrade, and repair projects for existing residential and commercial structures.
AI Analysis | Feedback
Robert Buck, President, Chief Executive Officer and Director
Mr. Buck has served as the Chief Executive Officer, President, and Director of TopBuild Corp. since 2021, and previously held the roles of President and Chief Operating Officer from 2015 to 2020. Prior to his time at TopBuild, he was the Group Vice President of Masco from 2014 to 2015 and President of Masco Contractor Services from 2009 to 2014. He began his career with Masco Corporation in 1997 at Liberty Hardware, spending eight years in various operations leadership roles and working extensively in international operations. He became Executive Vice President in 2005 and contributed to the merger of another Masco company with Liberty Hardware, subsequently being promoted to President in 2007.
Robert M. Kuhns, Chief Financial Officer and Vice President
Mr. Kuhns has been the Chief Financial Officer and Vice President of TopBuild Corp. since 2022. Before this role, he was the Vice President and Corporate Controller of the company from 2018 to 2022. Prior to joining TopBuild, Mr. Kuhns spent eleven years at Mohawk Industries, Inc., holding positions such as Senior Director/Assistant Corporate Controller from 2015 to 2018 and Senior Director of International Finance from 2013 to 2015. He also served as the Director of International Treasury and a Division Controller at NCH Corporation.
Joseph M. Viselli, Chief Growth Officer and Vice President
Mr. Viselli became the Chief Growth Officer and Vice President of TopBuild in 2024. From 2022 to 2024, he served as the Chief Operating Officer and Vice President of the company. His prior experience includes serving as Senior Vice President and General Manager of Distribution International from 2020 to 2022, and as General Manager of Silvercote and Senior Vice President of Knauf Insulation from 2017 to 2019. Mr. Viselli also held positions at Procter & Gamble and Goodyear Tire and Rubber.
Luis F. Machado, Vice President, General Counsel & Corporate Secretary
Mr. Machado serves as the Vice President, General Counsel, and Corporate Secretary for TopBuild Corp.
Steven P. Raia, President of Special Operations & Executive Adviser
Mr. Raia is the President of Special Operations and Executive Adviser at TopBuild Corp. He previously held the role of President, TruTeam Operations.
AI Analysis | Feedback
The key risks to TopBuild's business are:
-
Cyclical Nature of the Construction Industry: TopBuild operates in a cyclical industry, with a substantial portion of its sales derived from the residential market (around 60-65%). A downturn in construction activity, particularly in residential new construction due to factors like elevated mortgage rates, rising material costs, and labor shortages, could significantly reduce demand for insulation and building materials, impacting the company's revenues and margins.
-
Material and Labor Cost Inflation: Persistent inflation in material and labor costs poses a significant risk to TopBuild's gross and EBITDA margins. The company has indicated anticipated price and cost headwinds, and analysts project a contraction in profit margins, directly affecting its profitability.
-
Intense Competition and Market Fragmentation: The market for distributing and installing building products is highly fragmented and competitive, with relatively low barriers to entry for local competitors. This environment increases the risk of new competitors emerging and existing competition intensifying, which could lead to pricing pressure, erosion of pricing power, and a potential loss of market share for TopBuild.
AI Analysis | Feedback
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AI Analysis | Feedback
TopBuild (BLD) operates primarily in insulation installation and distribution, and the distribution of other building materials.
Addressable Markets:
- U.S. Insulation Market (Installation and Distribution Services): The U.S. insulation market size was estimated at USD 12.51 billion in 2023 and is expected to reach USD 13.26 billion in 2024. This market is projected to grow to USD 19.25 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 6.4% from 2024 to 2030. Another estimate values the U.S. insulation market at USD 13.3 billion in 2024, with a projection to reach USD 23.8 billion by 2033, growing at a CAGR of 6.62% from 2025-2033.
- North America Building Thermal Insulation Market: The North America building thermal insulation market was estimated at USD 8.52 billion in 2023 and is projected to grow at a CAGR of 4.7% from 2024 to 2030, reaching USD 11.72 billion by 2030. Another report indicates that the North America Building Thermal Insulation Market size is expected to reach USD 15.42 billion by 2033, with a CAGR of 5.97% from 2025 to 2033. The overall insulation market in North America was $14 billion in 2024.
- U.S. Weatherization Services Market: The U.S. weatherization services market was valued at USD 7,984.17 million (approximately USD 8 billion) in 2024 and is anticipated to reach USD 11,364.33 million (approximately USD 11.4 billion) by 2032, with a CAGR of 4.20% during the forecast period.
- U.S. Construction Materials Market (for Other Building Products Distribution): The U.S. construction materials market, which includes insulation materials, was valued at USD 145.0 billion in 2024 and is expected to grow to USD 196.1 billion by 2032, at a CAGR of 4.0% from 2025 to 2032.
AI Analysis | Feedback
TopBuild (BLD) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:
- Strategic Acquisitions: TopBuild consistently prioritizes acquisitions, which have been a significant contributor to sales growth. The company has actively acquired various businesses, such as Progressive Roofing, SPI, Insulation Fabrics, Diamond Door Products, and Performance Insulation Fabricators, to expand its market reach and diversify its offerings. These acquisitions are anticipated to add substantial annual revenue and strengthen TopBuild's market position.
- Growth in Commercial and Industrial Markets: Despite softness in the residential sector, TopBuild's commercial and industrial segments are demonstrating resilience and are expected to be key drivers of future growth. Management commentary and analyst reports highlight strong performance and backlog building in areas like mechanical insulation and commercial roofing.
- Recovery in the Residential Construction Market: Although the residential market has faced recent challenges, TopBuild remains optimistic about its long-term fundamentals. A potential recovery in housing activity, possibly influenced by future interest rate adjustments, is expected to serve as a significant revenue growth driver within the next 2-3 years.
- Leveraging Energy Efficiency Mandates and Building Code Changes: TopBuild is well-positioned to capitalize on evolving energy efficiency initiatives and stricter building codes. The company's agnostic approach allows it to offer a variety of insulation solutions, such as fiberglass blankets, to meet stringent requirements, providing a secular tailwind for revenue growth.
- Expansion into Adjacent Product Categories and Services: Through strategic acquisitions and internal initiatives, TopBuild is expanding its product and service offerings into adjacent categories. For example, the acquisition of Progressive Roofing deepens the company's presence in the commercial roofing market, and other acquisitions like SPI contribute to broader product category expansion, supporting overall revenue growth.
AI Analysis | Feedback
Share Repurchases
- TopBuild repurchased $417.1 million of its shares year-to-date through the third quarter of 2025.
- As of the end of the third quarter of 2025, the company had $770.9 million remaining under its share repurchase authorization.
- In the second quarter of 2024, TopBuild made significant share repurchases totaling $505.24 million.
Share Issuance
- No significant share issuances (new equity being sold) by TopBuild were identified over the last 3-5 years. The company did issue senior notes in September 2025 to fund acquisitions, which is a form of debt, not equity issuance.
Outbound Investments
- In October 2025, TopBuild completed an all-cash acquisition of Specialty Products and Insulation (SPI) for $1.0 billion, which is expected to add approximately $700 million in annual revenue.
- TopBuild acquired Progressive Roofing for $810 million in July 2025, expanding into commercial roofing services and adding approximately $440 million in annual revenue.
- Year-to-date through September 30, 2025, TopBuild spent approximately $851.2 million on acquisitions, with a total of about $1.20 billion in annual revenue added from completed or announced acquisitions in 2025. Additionally, net acquisitions for 2021 amounted to $1.267 billion.
Capital Expenditures
- TopBuild's capital expenditures were $67 million in 2024, $49 million in 2023, $73 million in 2022, $55 million in 2021, and $38 million in 2020.
- In the second quarter of 2025, the company spent $12 million on capital expenditures, primarily for purchasing property, plant, and equipment.
Latest Trefis Analyses
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|---|---|---|---|---|---|---|---|
| 02272026 | MBLY | Mobileye Global | Dip Buy | DB | Cash/EquityDip Buyer with High Net Cash % EquityBuying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation | 0.0% | 0.0% | 0.0% |
| 02202026 | SAH | Sonic Automotive | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -5.9% | -5.9% | -6.1% |
| 02132026 | MAT | Mattel | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 2.9% | 2.9% | 0.0% |
| 02132026 | SONO | Sonos | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -0.7% | -0.7% | -4.6% |
| 02062026 | DECK | Deckers Outdoor | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 1.6% | 1.6% | -0.8% |
| 05312025 | BLD | TopBuild | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 60.0% | 58.5% | -0.8% |
| 06302022 | BLD | TopBuild | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -5.2% | 59.1% | -15.2% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 305.92 |
| Mkt Cap | 10.3 |
| Rev LTM | 5,409 |
| Op Inc LTM | 792 |
| FCF LTM | 853 |
| FCF 3Y Avg | 982 |
| CFO LTM | 1,102 |
| CFO 3Y Avg | 1,111 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.0% |
| Rev Chg 3Y Avg | 2.0% |
| Rev Chg Q | -0.4% |
| QoQ Delta Rev Chg LTM | -0.1% |
| Op Mgn LTM | 14.6% |
| Op Mgn 3Y Avg | 16.1% |
| QoQ Delta Op Mgn LTM | -0.7% |
| CFO/Rev LTM | 14.0% |
| CFO/Rev 3Y Avg | 15.0% |
| FCF/Rev LTM | 10.1% |
| FCF/Rev 3Y Avg | 12.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.3 |
| P/S | 2.0 |
| P/EBIT | 14.4 |
| P/E | 20.7 |
| P/CFO | 13.4 |
| Total Yield | 4.3% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 6.8% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -17.4% |
| 3M Rtn | -2.7% |
| 6M Rtn | -11.1% |
| 12M Rtn | 7.3% |
| 3Y Rtn | 40.7% |
| 1M Excs Rtn | -15.3% |
| 3M Excs Rtn | -1.6% |
| 6M Excs Rtn | -13.5% |
| 12M Excs Rtn | -8.9% |
| 3Y Excs Rtn | -28.5% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Installation Services | 3,295 | 3,188 | 2,970 | 2,378 | 1,943 |
| Specialty Distribution | 2,341 | 2,268 | 2,278 | 1,287 | 926 |
| Elimination of intercompany net sales | -306 | -262 | -239 | -179 | -152 |
| Total | 5,330 | 5,195 | 5,009 | 3,486 | 2,718 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Installation Services | 649 | 644 | 549 | 384 | 295 |
| Specialty Distribution | 352 | 331 | 326 | 169 | 115 |
| Elimination of intercompany net sales | -50 | -44 | -40 | -30 | -24 |
| General corporate expense, net | -65 | -52 | -38 | -47 | -31 |
| Total | 886 | 879 | 797 | 476 | 355 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Installation Services | 2,226 | 2,208 | 2,129 | 2,024 | 1,722 |
| Specialty Distribution | 2,078 | 2,060 | 2,176 | 2,081 | 731 |
| Other | 431 | ||||
| Corporate | 895 | 302 | 153 | 363 | |
| Total | 4,735 | 5,163 | 4,607 | 4,259 | 2,815 |
Price Behavior
Price Behavior
| Market Price | $387.24 | |
| Market Cap ($ Bil) | 10.9 | |
| First Trading Date | 07/01/2015 | |
| Distance from 52W High | -29.7% | |
| 50 Days | 200 Days | |
| DMA Price | $475.52 | $412.71 |
| DMA Trend | up | up |
| Distance from DMA | -18.6% | -6.2% |
| 3M | 1YR | |
| Volatility | 41.1% | 40.6% |
| Downside Capture | 175.55 | 112.53 |
| Upside Capture | 120.08 | 117.51 |
| Correlation (SPY) | 37.0% | 43.5% |
BLD Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.72 | 1.23 | 1.42 | 1.27 | 0.92 | 1.23 |
| Up Beta | 1.94 | 1.29 | 1.80 | 1.84 | 1.00 | 1.17 |
| Down Beta | 0.80 | 1.33 | 1.19 | 0.98 | 0.54 | 0.78 |
| Up Capture | -14% | 143% | 142% | 127% | 142% | 396% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 8 | 18 | 26 | 56 | 124 | 395 |
| Down Capture | 89% | 95% | 142% | 121% | 101% | 109% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 13 | 23 | 34 | 67 | 125 | 355 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BLD | |
|---|---|---|---|---|
| BLD | 27.7% | 40.6% | 0.70 | - |
| Sector ETF (XLY) | 9.0% | 24.0% | 0.30 | 49.8% |
| Equity (SPY) | 16.4% | 19.2% | 0.66 | 43.9% |
| Gold (GLD) | 77.1% | 26.1% | 2.17 | 3.1% |
| Commodities (DBC) | 19.6% | 17.1% | 0.89 | 9.3% |
| Real Estate (VNQ) | 3.1% | 16.6% | 0.01 | 49.8% |
| Bitcoin (BTCUSD) | -21.4% | 45.5% | -0.39 | 24.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BLD | |
|---|---|---|---|---|
| BLD | 14.3% | 40.6% | 0.45 | - |
| Sector ETF (XLY) | 7.6% | 23.7% | 0.28 | 58.9% |
| Equity (SPY) | 13.0% | 17.0% | 0.60 | 56.5% |
| Gold (GLD) | 24.2% | 17.2% | 1.14 | 8.3% |
| Commodities (DBC) | 11.9% | 19.0% | 0.51 | 10.6% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 54.0% |
| Bitcoin (BTCUSD) | 7.5% | 56.8% | 0.35 | 22.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BLD | |
|---|---|---|---|---|
| BLD | 30.7% | 42.0% | 0.78 | - |
| Sector ETF (XLY) | 13.0% | 21.9% | 0.55 | 59.3% |
| Equity (SPY) | 15.0% | 17.9% | 0.72 | 57.6% |
| Gold (GLD) | 15.1% | 15.6% | 0.80 | 9.3% |
| Commodities (DBC) | 9.0% | 17.6% | 0.43 | 17.7% |
| Real Estate (VNQ) | 6.1% | 20.7% | 0.26 | 54.0% |
| Bitcoin (BTCUSD) | 66.7% | 66.8% | 1.06 | 17.7% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2025 | -0.9% | 2.6% | 4.8% |
| 8/5/2025 | 5.4% | 7.2% | 7.8% |
| 5/6/2025 | -2.3% | 6.9% | -1.0% |
| 2/25/2025 | 2.7% | -2.0% | 3.7% |
| 11/5/2024 | 4.3% | 2.3% | 6.6% |
| 8/6/2024 | -7.1% | -12.0% | -13.2% |
| 2/28/2024 | -5.2% | -2.7% | 6.1% |
| 10/31/2023 | 4.3% | 20.2% | 34.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 12 |
| # Negative | 12 | 12 | 10 |
| Median Positive | 4.2% | 7.0% | 6.4% |
| Median Negative | -2.7% | -3.8% | -3.6% |
| Max Positive | 10.2% | 20.2% | 41.9% |
| Max Negative | -7.6% | -16.5% | -15.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Buck, Robert M | President and CEO | Direct | Sell | 12122025 | 453.39 | 5,000 | 2,266,950 | 28,665,583 | Form |
| 2 | MacHado, Luis Francisco | VP, Gen. Counsel, Corp Sec. | Direct | Sell | 11282025 | 450.40 | 1,000 | 450,400 | 4,210,790 | Form |
| 3 | Bautista, Ernesto Iii | Direct | Sell | 11252025 | 432.30 | 130 | 56,199 | 1,044,004 | Form | |
| 4 | Buck, Robert M | President and CEO | Direct | Sell | 11102025 | 418.01 | 5,000 | 2,090,050 | 28,518,732 | Form |
| 5 | Donikowski, Tina | Direct | Sell | 8292025 | 427.89 | 370 | 158,319 | 1,816,393 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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