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Topbuild Corp Financials

BLD
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Topbuild Corp (BLD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 54 / 100
Financial Profile 54/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
55

Topbuild Corp has an operating margin of 14.6%, meaning the company retains $15 of operating profit per $100 of revenue. This results in a moderate score of 55/100, indicating healthy but not exceptional operating efficiency. This is down from 16.6% the prior year.

Growth
36

Topbuild Corp's revenue grew a modest 1.5% year-over-year to $5.4B. This slow but positive growth earns a score of 36/100.

Leverage
78

Topbuild Corp carries a low D/E ratio of 1.20, meaning only $1.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 78/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
35

Topbuild Corp's current ratio of 1.94 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
57

Topbuild Corp has a free cash flow margin of 12.9%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
61

Topbuild Corp's ROE of 22.5% shows moderate profitability relative to equity, earning a score of 61/100. This is down from 28.2% the prior year.

Altman Z-Score Safe
3.51

Topbuild Corp scores 3.51, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
4/9

Topbuild Corp passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.45x

For every $1 of reported earnings, Topbuild Corp generates $1.45 in operating cash flow ($756.3M OCF vs $521.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
7.6x

Topbuild Corp earns $7.6 in operating income for every $1 of interest expense ($791.9M vs $103.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$5.4B
YoY+1.5%
5Y CAGR+14.8%
10Y CAGR+12.8%

Topbuild Corp generated $5.4B in revenue in fiscal year 2025. This represents an increase of 1.5% from the prior year.

EBITDA
$961.3M
YoY-6.4%
5Y CAGR+18.2%
10Y CAGR+26.0%

Topbuild Corp's EBITDA was $961.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.4% from the prior year.

Net Income
$521.7M
YoY-16.2%
5Y CAGR+16.1%
10Y CAGR+20.8%

Topbuild Corp reported $521.7M in net income in fiscal year 2025. This represents a decrease of 16.2% from the prior year.

EPS (Diluted)
$18.28
YoY-9.9%
5Y CAGR+19.8%
10Y CAGR+24.2%

Topbuild Corp earned $18.28 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 9.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$696.9M
YoY-1.4%
5Y CAGR+17.1%
10Y CAGR+32.3%

Topbuild Corp generated $696.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1.4% from the prior year.

Cash & Debt
$184.7M
YoY-53.9%
5Y CAGR-11.0%
10Y CAGR+5.1%

Topbuild Corp held $184.7M in cash against $2.8B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
28M
YoY-4.4%
5Y CAGR-3.2%
10Y CAGR-3.0%

Topbuild Corp had 28M shares outstanding in fiscal year 2025. This represents a decrease of 4.4% from the prior year.

Margins & Returns

Gross Margin
29.0%
YoY-1.5pp
5Y CAGR+1.6pp
10Y CAGR+6.9pp

Topbuild Corp's gross margin was 29.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the prior year.

Operating Margin
14.6%
YoY-2.0pp
5Y CAGR+1.6pp
10Y CAGR+9.5pp

Topbuild Corp's operating margin was 14.6% in fiscal year 2025, reflecting core business profitability. This is down 2.0 percentage points from the prior year.

Net Margin
9.7%
YoY-2.0pp
5Y CAGR+0.6pp
10Y CAGR+4.8pp

Topbuild Corp's net profit margin was 9.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.0 percentage points from the prior year.

Return on Equity
22.5%
YoY-5.6pp
5Y CAGR+4.2pp
10Y CAGR+13.9pp

Topbuild Corp's ROE was 22.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.6 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$434.2M
YoY-55.1%
5Y CAGR+54.6%

Topbuild Corp spent $434.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 55.1% from the prior year.

Capital Expenditures
$59.4M
YoY-14.3%
5Y CAGR+7.7%
10Y CAGR+15.9%

Topbuild Corp invested $59.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 14.3% from the prior year.

BLD Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $1.5B+6.6% $1.4B+7.4% $1.3B+5.2% $1.2B-6.0% $1.3B-4.4% $1.4B+0.6% $1.4B+6.8% $1.3B
Cost of Revenue $1.1B+10.9% $974.2M+7.8% $903.4M+2.4% $881.8M-4.2% $920.2M-3.3% $951.5M+1.0% $941.7M+5.6% $891.6M
Gross Profit $404.6M-3.4% $418.9M+6.3% $394.0M+12.1% $351.5M-10.3% $392.0M-7.1% $421.8M-0.5% $423.9M+9.5% $387.1M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $224.9M+10.3% $203.9M+17.0% $174.3M+0.2% $174.0M-0.3% $174.6M-1.8% $177.8M-16.7% $213.5M+23.7% $172.6M
Operating Income $179.6M-16.4% $215.0M-2.2% $219.8M+23.8% $177.5M-18.4% $217.4M-10.9% $244.0M+16.0% $210.4M-1.9% $214.5M
Interest Expense $38.2M+34.5% $28.4M+38.3% $20.5M+23.8% $16.6M-3.9% $17.3M-6.3% $18.4M-0.6% $18.6M-1.2% $18.8M
Income Tax $39.0M-19.2% $48.3M-7.1% $52.0M+22.1% $42.6M-18.4% $52.2M-11.5% $58.9M+12.4% $52.5M-4.0% $54.6M
Net Income $104.5M-26.5% $142.2M-6.2% $151.6M+22.9% $123.4M-18.0% $150.5M-10.9% $169.0M+12.1% $150.7M-1.1% $152.4M
EPS (Diluted) N/A $5.04-5.3% $5.32+25.8% $4.23 N/A $5.65+18.2% $4.78-0.2% $4.79

BLD Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $6.6B+3.0% $6.4B+25.2% $5.1B+11.4% $4.6B-2.9% $4.7B+1.8% $4.7B-5.1% $4.9B-7.7% $5.3B
Current Assets $1.6B-33.2% $2.4B+21.2% $2.0B+35.1% $1.5B-6.5% $1.6B+5.1% $1.5B-13.6% $1.8B-20.1% $2.2B
Cash & Equivalents $184.7M-83.8% $1.1B+35.6% $842.5M+172.8% $308.8M-22.9% $400.3M+55.6% $257.3M-44.4% $463.2M-52.2% $968.8M
Inventory $505.2M+31.0% $385.6M0.0% $385.5M-5.1% $406.1M-0.1% $406.7M+3.7% $392.2M-0.4% $393.8M+5.0% $375.1M
Accounts Receivable $894.4M+2.3% $874.3M+16.2% $752.6M+0.5% $748.7M-0.4% $751.6M-9.2% $827.8M-3.7% $859.7M+3.7% $829.2M
Goodwill $3.0B+18.3% $2.6B+21.1% $2.1B+0.6% $2.1B+0.1% $2.1B+1.0% $2.1B+0.1% $2.1B+1.9% $2.1B
Total Liabilities $4.3B+2.4% $4.2B+40.7% $3.0B+20.0% $2.5B-1.8% $2.5B-0.4% $2.5B-0.4% $2.5B-2.0% $2.6B
Current Liabilities $844.8M+0.3% $842.7M+18.0% $714.3M-3.3% $738.5M-3.7% $767.2M+1.5% $756.1M+0.5% $752.2M-4.1% $784.4M
Long-Term Debt $2.8B-0.5% $2.8B+52.7% $1.8B+39.6% $1.3B-1.1% $1.3B-1.1% $1.3B-0.8% $1.4B-0.8% $1.4B
Total Equity $2.3B+4.2% $2.2B+3.7% $2.1B+1.3% $2.1B-4.2% $2.2B+4.5% $2.1B-10.3% $2.4B-13.1% $2.7B
Retained Earnings $3.5B+3.1% $3.4B+4.4% $3.3B+4.9% $3.1B+4.1% $3.0B+5.3% $2.8B+6.3% $2.7B+6.0% $2.5B

BLD Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $176.7M-24.3% $233.3M+20.5% $193.7M+26.9% $152.6M-42.7% $266.2M+10.6% $240.7M+166.4% $90.4M-49.5% $178.8M
Capital Expenditures $17.4M+1.3% $17.1M+48.9% $11.5M-14.0% $13.4M+6.7% $12.6M-39.7% $20.8M+29.4% $16.1M-19.1% $19.9M
Free Cash Flow $159.4M-26.3% $216.2M+18.7% $182.2M+30.9% $139.2M-45.1% $253.7M+15.4% $219.8M+196.1% $74.3M-53.3% $158.9M
Investing Cash Flow -$1.1B-29.7% -$846.8M-2494.5% -$32.6M-153.9% -$12.9M+78.8% -$60.6M-189.0% -$21.0M+74.2% -$81.4M-101.0% -$40.5M
Financing Cash Flow -$36.6M-104.0% $914.3M+146.8% $370.4M+260.1% -$231.3M-295.0% -$58.6M+86.2% -$425.8M+17.3% -$514.9M-2911.2% -$17.1M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $17.0M-74.1% $65.5M-51.8% $136.0M-36.9% $215.6M+357.2% $47.2M-88.6% $413.9M N/A N/A

BLD Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 27.2%-2.8pp 30.1%-0.3pp 30.4%+1.9pp 28.5%-1.4pp 29.9%-0.8pp 30.7%-0.3pp 31.0%+0.8pp 30.3%
Operating Margin 12.1%-3.3pp 15.4%-1.5pp 16.9%+2.5pp 14.4%-2.2pp 16.6%-1.2pp 17.8%+2.4pp 15.4%-1.4pp 16.8%
Net Margin 7.0%-3.2pp 10.2%-1.5pp 11.7%+1.7pp 10.0%-1.5pp 11.5%-0.8pp 12.3%+1.3pp 11.0%-0.9pp 11.9%
Return on Equity 4.5%-1.9pp 6.4%-0.7pp 7.1%+1.2pp 5.8%-1.0pp 6.8%-1.2pp 8.0%+1.6pp 6.4%+0.8pp 5.6%
Return on Assets 1.6%-0.6pp 2.2%-0.7pp 3.0%+0.3pp 2.7%-0.5pp 3.2%-0.4pp 3.6%+0.6pp 3.1%+0.2pp 2.9%
Current Ratio 1.94-1.0 2.90+0.1 2.83+0.8 2.02-0.1 2.08+0.1 2.01-0.3 2.34-0.5 2.81
Debt-to-Equity 1.20-0.1 1.26+0.4 0.85+0.2 0.62+0.0 0.60-0.0 0.63+0.1 0.57+0.1 0.50
FCF Margin 10.7%-4.8pp 15.5%+1.5pp 14.0%+2.7pp 11.3%-8.0pp 19.3%+3.3pp 16.0%+10.6pp 5.4%-7.0pp 12.4%

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Frequently Asked Questions

Topbuild Corp (BLD) reported $5.4B in total revenue for fiscal year 2025. This represents a 1.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Topbuild Corp (BLD) revenue grew by 1.5% year-over-year, from $5.3B to $5.4B in fiscal year 2025.

Yes, Topbuild Corp (BLD) reported a net income of $521.7M in fiscal year 2025, with a net profit margin of 9.7%.

Topbuild Corp (BLD) reported diluted earnings per share of $18.28 for fiscal year 2025. This represents a -9.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Topbuild Corp (BLD) had EBITDA of $961.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Topbuild Corp (BLD) had $184.7M in cash and equivalents against $2.8B in long-term debt.

Topbuild Corp (BLD) had a gross margin of 29.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Topbuild Corp (BLD) had an operating margin of 14.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Topbuild Corp (BLD) had a net profit margin of 9.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Topbuild Corp (BLD) has a return on equity of 22.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Topbuild Corp (BLD) generated $696.9M in free cash flow during fiscal year 2025. This represents a -1.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Topbuild Corp (BLD) generated $756.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Topbuild Corp (BLD) had $6.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Topbuild Corp (BLD) invested $59.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Topbuild Corp (BLD) spent $434.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Topbuild Corp (BLD) had 28M shares outstanding as of fiscal year 2025.

Topbuild Corp (BLD) had a current ratio of 1.94 as of fiscal year 2025, which is generally considered healthy.

Topbuild Corp (BLD) had a debt-to-equity ratio of 1.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Topbuild Corp (BLD) had a return on assets of 7.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Topbuild Corp (BLD) has an Altman Z-Score of 3.51, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Topbuild Corp (BLD) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Topbuild Corp (BLD) has an earnings quality ratio of 1.45x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Topbuild Corp (BLD) has an interest coverage ratio of 7.6x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Topbuild Corp (BLD) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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