Forensic Analysis · Trading Companies & Distributors · as of Aug 11, 2026
Bluelinx Holdings Inc. (BXC)
A forensic read on Bluelinx Holdings Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
5.3
Distress distance
Clean
Earnings quality
3
Forensic signals
-390.8
P / E (ttm)
0.0%
ROE
$706M
Market cap
0.00%
Dividend yield
0.0%
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 (red flags, auditor quality, say on pay, board independence). 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.
Bluelinx Holdings Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 5.3, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
3.1%
FY2026
Return on invested capital.Return on invested capital is 3.1% in the latest fiscal year and slipping from 33% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
+16.3%
FY2024→FY2026
Accruals ratio (% of NOA).Net operating assets grew +16.3% relative to their own average in FY2026 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by payables paid down 20% against +2% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 12% of net operating assets, diverging from the balance-sheet accrual read.
116% of FCF
FY2026
Shareholder returns.Returned $38M to shareholders (buybacks + dividends) in FY2026 — 116% of free cash flow, but 64% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $11M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 150%.
Key fundamentals
Latest Revenue$2.95B
Revenue Growth YoY+0.0%
Net Margin0.0%
Free Cash Flow$32.9M
Return on Equity0.0%
Debt / Equity0.48x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Bluelinx Holdings Inc.'s actual 10-K/10-Q/8-K filings?