Loading...
Docoh

Builders Firstsource (BLDR)

Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products. We operate in 40 states with approximately 400 locations and have a market presence in 77 of the top 100 Metropolitan Statistical Areas, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (certain of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other building products.

Company profile

Ticker
BLDR
Exchange
CEO
M. Chad Crow
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
BFS Asset Holdings LLC • BFS Design Services LLC • BFS Group LLC • BFS Operations LLC • BFS Procurement LLC • BFS Pay, LLC • BFS Real Estate LLC • BFS Texas Sales LLC • Builders FirstSource – Dallas, LLC • Builders FirstSource – Texas Installed Sales, LLC ...
IRS number
522084569

BLDR stock data

Calendar

1 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 166.19M 166.19M 166.19M 166.19M 166.19M 166.19M
Cash burn (monthly) 38.54M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 113.8M n/a n/a n/a n/a n/a
Cash remaining 52.39M n/a n/a n/a n/a n/a
Runway (months of cash) 1.4 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Sep 22 Hayes William B Common Stock, par value $0.01 per share Grant Acquire A No No 0 553 0 8,035
1 Sep 22 Boydston Cory Jacobs Common Stock, par value $0.01 per share Grant Acquire A No No 58.76 446 26.21K 33,475
1 Sep 22 Paul S Levy Common Stock, par value $0.01 per share Grant Acquire A No No 58.76 850 49.95K 1,165,172
1 Sep 22 Steinke Craig Arthur Common Stock, par value $0.01 per share Grant Acquire A No No 58.76 489 28.73K 120,686
1 Sep 22 Alexander Mark A Common Stock, par value $0.01 per share Grant Acquire A No No 58.76 446 26.21K 37,167
13F holders Current Prev Q Change
Total holders 484 504 -4.0%
Opened positions 78 91 -14.3%
Closed positions 98 73 +34.2%
Increased positions 150 174 -13.8%
Reduced positions 210 192 +9.4%
13F shares Current Prev Q Change
Total value 8.58B 11.1B -22.8%
Total shares 157.21M 168.72M -6.8%
Total puts 1.4M 1.26M +11.5%
Total calls 748.81K 1.04M -28.0%
Total put/call ratio 1.9 1.2 +54.9%
Largest owners Shares Value Change
Vanguard 16.37M $878.95M -6.1%
BLK Blackrock 15.67M $841.56M -11.0%
FMR 12.08M $648.84M -7.4%
Wellington Management 9.64M $517.66M -14.5%
Coliseum Capital Management 6.46M $347.06M +16.4%
William Blair Investment Management 5.3M $284.67M -21.7%
STT State Street 5.26M $282.21M -6.6%
Dimensional Fund Advisors 4.5M $241.56M +0.9%
Allspring Global Investments 2.93M $157.1M +2.8%
Conifer Management, L.L.C. 2.5M $134.25M 0.0%
Largest transactions Shares Bought/sold Change
Massachusetts Financial Services 1.14M -2.4M -67.7%
BLK Blackrock 15.67M -1.94M -11.0%
Wellington Management 9.64M -1.64M -14.5%
Atalan Capital Partners 0 -1.6M EXIT
William Blair Investment Management 5.3M -1.47M -21.7%
MS Morgan Stanley 2.46M +1.33M +118.4%
Marshall Wace 15.06K -1.23M -98.8%
Vanguard 16.37M -1.05M -6.1%
Aqr Capital Management 2.09M +1.05M +100.7%
Anomaly Capital Management 923.43K -1.04M -52.9%

Financial report summary

?
Competition
BMC Stock
Risks
  • The COVID-19 pandemic has impacted our business, and will likely continue to impact our business in the future.
  • The industry in which we operate is dependent upon the residential homebuilding industry, as well as the U.S. economy, the credit markets and other important factors.
  • The building supply industry is subject to cyclical market pressures.
  • Our industry is highly fragmented and competitive, and increased competitive pressure may adversely affect our results.
  • A range of factors may make our quarterly revenues, earnings and cash flows variable.
  • We may be unable to successfully implement our growth strategy, which includes increasing sales of our prefabricated components and other value-added products, pursuing strategic acquisitions, opening new facilities, implementing operational excellence, pursuing digitization opportunities and initiatives, and maintaining a balanced debt level.
  • We are subject to competitive pricing pressure from our customers.
  • The loss of any of our significant customers or a reduction in the quantity of products they purchase could affect our financial health.
  • Product shortages, loss of key suppliers, and our dependence on third-party suppliers and manufacturers could affect our financial health.
  • Failure to attract and retain our key employees and the impact of our recent leadership changes may adversely impact our ability to successfully execute our business strategies.
  • We are subject to cybersecurity risks and expect to incur increasing costs in an effort to minimize those risks.
  • Changes in our customer or product sales mix affect our operating results.
  • We occupy most of our facilities under long-term non-cancelable leases. We may be unable to renew leases at the end of their terms. If we close a facility, we are still obligated under the applicable lease.
  • Integrating the business of BMC into our existing business may be more difficult, costly or time-consuming than expected, and we may fail to realize the anticipated benefits of the BMC Merger, which may adversely affect our business results and negatively affect the value of our common stock following the BMC Merger.
  • We will incur significant integration costs in connection with the BMC Merger.
  • We may have future capital needs and may not be able to obtain additional financing on acceptable terms.
  • We may incur additional indebtedness.
  • Our debt instruments contain various covenants that limit our ability to operate our business.
  • Our variable rate indebtedness subjects us to interest rate risk, which could cause our indebtedness service obligations to increase significantly.
  • If the housing market declines, we may be required to take impairment charges relating to our operations or temporarily idle or permanently close under-performing locations.
  • We do not have any current plan to pay dividends on our common stock, and as a result, your ability to achieve a return on your investment in our common stock may be limited to any increases in the price of our common stock.
  • Our inability to effectively deploy our excess capital may negatively affect return on equity and stockholder value.
  • The nature of our business exposes us to product liability, product warranty, casualty, construction defect, asbestos, vehicle and other claims and legal proceedings.
  • Future changes to tax laws and regulations could have an adverse impact on our business.
  • We are subject to potential exposure to environmental liabilities and are subject to environmental regulation.
  • We may be adversely affected by uncertainty in the economy and financial markets, including as a result of terrorism, unrest, or pandemics.
  • We may be adversely affected by any natural or man-made disruptions to our operations and our distribution and manufacturing facilities.
  • The price of our common stock is volatile and may decline.
Management Discussion
  • Cash provided by operating activities was $1.7 billion in 2021, compared to cash provided by operating activities of $260.1 million in 2020. The increase in cash used in operating activities was largely the result of an increase in net income in 2021, exceeding the net income in 2020.
  • For the year ended December 31, 2021 the Company used $1.3 billion in cash in investing activities, $1.2 billion more than the same period in the prior year. Of this increase, $1.2 billion more was spent on acquisitions and $110.7 million more as a net investment in property, plant and equipment. Offsetting these increases in cash used for investing activities was cash acquired from the Gypsum Divestiture.
  • Cash used in financing activities was $780.1 million in 2021, which consisted primarily of $1.7 billion in repurchases of common stock, cash used to extinguish $359.8 million of debt acquired in the BMC Merger and the redemption of $165.0 million of the Company’s 2027 notes, partially offset by cash received from the issuance of $1.0 billion of 2032 notes and net borrowings under the 2026 facility of $513.0 million. Cash provided by financing activities was $285.9 million for 2020, which was primarily related to the net proceeds received from the Company’s financing transactions during the period, including the issuance of $550.0 million in 2030 notes and $350.0 million of 2027 notes. The proceeds from these issuances were offset by the redemption of the remaining $503.9 million of 2024 notes, repayment of the remaining $52.0 million term loan, and partial redemption of $47.5 million of 2027 notes. These transactions are described in Note 8 to the consolidated financial statements included in Item 8 of this annual report on Form 10-K.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: contingent, Flagstaff, HomCo, inclusive, original, replaced, soften, tempered, underbuilt
Removed: disease, fully, indenture, November