Logo

BLD

TopBuild Corp.

BLD

TopBuild Corp. • NYSE
$452.50 ▼ -0.58% (-2.63)
Market Cap $12.70 B
52w High $461.49
52w Low $266.26
Dividend Yield 0%
P/E 23.04
Volume 99.60K
Outstanding Shares 28.07M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.393B ▲ $203.91M ▲ $142.226M ▼ 10.209% ▼ $5.08 ▼ $261.262M ▲
Q2-2025 $1.297B ▲ $174.254M ▲ $151.602M ▲ 11.685% ▲ $5.33 ▲ $260.023M ▲
Q1-2025 $1.233B ▼ $173.984M ▼ $123.385M ▼ 10.005% ▼ $4.25 ▼ $218.366M ▼
Q4-2024 $1.312B ▼ $174.583M ▼ $150.538M ▼ 11.472% ▼ $5.13 ▼ $255.714M ▼
Q3-2024 $1.373B $177.82M $168.96M 12.303% $5.68 $281.834M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.142B ▲ $6.41B ▲ $4.187B ▲ $2.223B ▲
Q2-2025 $842.493M ▲ $5.12B ▲ $2.976B ▲ $2.144B ▲
Q1-2025 $308.811M ▼ $4.596B ▼ $2.48B ▼ $2.116B ▼
Q4-2024 $400.318M ▲ $4.735B ▲ $2.526B ▼ $2.21B ▲
Q3-2024 $257.342M $4.651B $2.536B $2.114B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $142.226M ▼ $233.309M ▲ $-846.773M ▼ $914.319M ▲ $299.91M ▼ $216.16M ▲
Q2-2025 $151.601M ▲ $193.69M ▲ $-32.637M ▼ $370.435M ▲ $533.682M ▲ $182.17M ▲
Q1-2025 $123.385M ▼ $152.589M ▼ $-12.853M ▲ $-231.344M ▼ $-91.507M ▼ $139.194M ▼
Q4-2024 $150.538M ▼ $266.228M ▲ $-60.605M ▼ $-58.571M ▲ $142.976M ▲ $253.673M ▲
Q3-2024 $168.96M $240.67M $-20.971M $-425.752M $-205.879M $219.85M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
All other
All other
 $180.00M ▲$80.00M ▼$80.00M ▲$50.00M ▼
Garage Doors
Garage Doors
 $0 ▲$0 ▲$0 ▲$30.00M ▲
Glass and windows
Glass and windows
 $130.00M ▲$60.00M ▼$60.00M ▲$60.00M ▲
Gutters
Gutters
 $150.00M ▲$60.00M ▼$80.00M ▲$80.00M ▲
Insulation and accessories
Insulation and accessories
 $2.23Bn ▲$1.03Bn ▼$1.08Bn ▲$1.08Bn ▲

Five-Year Company Overview

Income Statement

Income Statement TopBuild’s income statement shows a business that has grown meaningfully while also becoming more profitable. Revenue has climbed steadily over the past five years, with a particularly strong step-up as acquisitions were integrated. Profit margins have widened compared with earlier years, suggesting good cost control and benefits from scale, even though the most recent year looks more like a leveling out than another big jump. Overall earnings per share have increased sharply over the period, pointing to both underlying business growth and disciplined execution, but future performance will still be tied to the health of construction end markets.

Balance Sheet

Balance Sheet The balance sheet reflects a company that has scaled up through acquisitions and is now managing a larger asset base with moderate leverage. Debt increased a few years ago to support growth but has since edged down, suggesting some gradual de-risking, although the company still relies meaningfully on borrowings. Equity built up over time and then dipped in the latest year, likely reflecting capital returns or deal activity rather than operational stress. Cash levels move around from year to year, which is typical for an active acquirer, but there is no obvious signal of liquidity strain in the snapshot provided.

Cash Flow

Cash Flow Cash generation looks like a core strength. Operating cash flow has grown over time and has consistently covered the company’s relatively modest capital spending needs, leaving solid free cash flow each year. This indicates the business does not require heavy reinvestment in equipment to grow and can fund acquisitions, debt reduction, or shareholder returns from internal cash. The slight step down in operating cash flow in the latest year is worth watching, but the overall multi-year picture still looks resilient.

Competitive Edge

Competitive Edge TopBuild holds a strong position as a leading installer and distributor of insulation and related building products across the United States. Its national scale, broad branch network, and ability to both distribute and install give it cost advantages and convenience that many smaller competitors struggle to match. The company’s acquisition strategy has steadily consolidated a fragmented industry, expanded its product range, and increased exposure to commercial and industrial markets, which can be more stable than pure residential. That said, competition remains intense, brand power is not dominant, and customer switching costs are relatively low, so its advantage is meaningful but not unassailable.

Innovation and R&D

Innovation and R&D Innovation at TopBuild is mainly about smarter operations and building science rather than flashy new technologies. The company invests in improving logistics, integrating acquired businesses, and standardizing best practices, supported by a dedicated operations improvement team. Programs like Environments For Living® highlight its focus on energy-efficient, higher-performing buildings, which aligns well with rising interest in sustainability and stricter building codes. There is some mention of automation and data analytics, plus partnerships around greener products, but public detail is limited, so the scale and impact of those technology efforts are still somewhat unclear.

Summary

TopBuild comes across as a scaled consolidator in a cyclical but essential part of the construction ecosystem. Over the past five years, it has combined steady top-line growth with improving profitability and strong cash generation, supported by acquisitions and operational discipline. The balance sheet shows manageable leverage and active capital deployment rather than a conservative, cash-heavy stance. Its main edge lies in national scale, integration capabilities, and building-science know-how, not in proprietary technology or a dominant brand. Future results will likely hinge on the health of construction markets, continued success in integrating acquisitions, and the company’s ability to push further into higher-value, energy-efficient and commercial/industrial solutions while maintaining its margin gains.

NEWS

November 4, 2025 · 6:45 AM UTC

TopBuild Reports Third Quarter 2025 Results; Raises Guidance to Include Recent Acquisitions

Read more

November 3, 2025 · 7:00 AM UTC

TopBuild Announces Specialty Distribution and Installation Services Acquisitions

Read more

October 8, 2025 · 6:45 AM UTC

TopBuild Acquires Specialty Products and Insulation (SPI) in All-Cash Transaction Valued at $1 Billion

Read more

October 7, 2025 · 9:29 AM UTC

TopBuild to Release Third Quarter 2025 Results on Tuesday, November 4

Read more

September 19, 2025 · 7:30 AM UTC

TopBuild to Host 2025 Investor Day

Read more