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Forensic Analysis · Retail / Consumer Discretionary · as of Nov 9, 2026

Builders FirstSource, Inc. (BLDR)

A forensic read on Builders FirstSource, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Grey Zone
Financial health
2.0
Distress distance
Clean
Earnings quality
1
Forensic signals
10.1%
ROE
-7.4%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Builders FirstSource, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 2.0, placing it in the Grey zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

7.4%
FY2025
Return on invested capital. Return on invested capital is 7.4% in the latest fiscal year and slipping across FY2023–FY2025 from 19.7%. After-tax operating profit was $1.7B in FY2023 and $668M in FY2025, with operating income at 12.7% of revenue in FY2023, 9.7% in FY2024 and 5.2% in FY2025. The capital base behind it went from $8.6B in FY2023 to $9.1B in FY2025 (+6%), while the revenue it carried went from $17.1B to $15.2B. Across FY2024–FY2025, $2.2B went into capital expenditure, acquisitions and equity-method investments against $551M of depreciation excluding $603M of intangible-asset amortisation. The base is struck net of amortisation, write-downs and the current liabilities that fund it, so it moved by less than that spending net of the wear, and this row does not say which of those absorbed the difference.

Key fundamentals

Latest Revenue$15.19B
Revenue Growth YoY-7.4%
Revenue CAGR (2yr)-5.7%
Net Margin2.9%
Free Cash Flow$853.3M
Return on Equity10.1%
Debt / Equity1.02x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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