Builders FirstSource : Corporate Presentation
BLDR
Published on 04/30/2026 at 01:09 pm EDT
OUTPERFORM TODAY. TRANSFORM TOMORROW.
A p r i l 2 0 2 6
Industry Leader. Differentiated position in fragmented market with growing portfolio of value-added services across diverse geographies and end markets nationwide
Builders FirstSource is the nation's leading provider of building materials for professional builders in new residential construction and repair and remodeling.
Focusing on Innovation. Investing in value-added solutions and technology to solve customer pain points such as labor availability and jobsite productivity, while fueling our profitable growth
Accelerating Digital Adoption and Scale. Our BFS Digital Solutions are driving greater efficiency across homebuilding, enhancing our product offerings, and creating value for customers
Strong Financial Position. Fortress balance sheet, healthy net leverage profile, cost/operating discipline, and exceptional cash flow generation provide us with the strength and flexibility to create value over the long term
Compounding Shareholder Value. Disciplined capital allocation approach with a focus on investing in organic growth, making accretive acquisitions, and returning cash to shareholders through share repurchases driven by strong cash flow generation
3
KEY STATS
NATIONAL REACH. LOCAL EXPERTISE.5
Irving, TX
Headquarters
~$11.4B
Market Cap1
~28K
Employees
$15.2B
Net Sales
$1.6B
Adj. EBITDA2
$0.9B
FCF2
~48%
Value-Added
Product Mix
2025 Net Sales Breakdown
23%
Product
27%
22%
End
25%
Category
25%
10%
Market
68%
Single-Family
Multi-Family
Repair & Remodel / Other
~570
Locations6
(>290 Value-Added Product Operations5)
94
of Top 100 CBSAs6 Served
Components3
Millwork
Yard4
48
of Top 50 CBSAs6 Served
43
States Served
Specialty Building Products & Services
Lumber & Lumber Sheet Goods
Manufactured Products
Windows, Doors & Millwork
Largest U.S. Supplier of Building Products, Prefabricated Components,
and Value-Added Services to the Professional Builder
All stats sourced from Q4 2025 Earnings Release and 2025 Form 10-K as of 12/31/25 unless otherwise noted.
1 Source: S&P Capital IQ as of 12/31/25.
2 Adjusted EBITDA and Free Cash Flow (or FCF) are non-GAAP financial measures. Please see the appendix hereto for reconciliations to their most closely related GAAP financial measures.
3 Components includes truss and wall panels. 4
4 Yard includes home and garden centers.
5 Value-added product operations includes components (truss & wall panel) and millwork operations.
6 As of 3/31/26. Core Based Statistical Areas (CBSAs) is the collective term used to refer to metropolitan statistical areas and micropolitan statistical areas.
Trusses
Siding, Exterior Trim, & Other Products
Wall Panels
Engineered Wood
23%
27%
Professional Install (Labor), Design Assistance, & Other Services
Manufactured & Semi-Custom Modular Homes
Interior and Exterior Doors
Windows
25%
48%
Value-Added Product Mix1
25%
Digital Solutions
Dimensional Lumber
Oriented Strand Board (OSB)
Millwork (Interior Trim & Custom Features)
Plywood
Note: FY 2025 product mix as disclosed on Q4 2025 earnings call on 2/17/26.
1 Value-added product mix comprised of Manufactured Products and Windows, Doors & Millwork. 5
Benefits of Framing
with Components vs.
Traditional Stick Framing
~223
Hours Saved1
~25%
Less Wood Used1
~191K
Tons of CO2e Avoided2
Manufactured Products
Floor and Roof Trusses
Wall Panels
Engineered Wood Products
READY-FRAME® - Optimized Framing Solutions
Manufactured & Semi-Custom Modular Homes
Why Frame with Components?
Better
Computerized designs reduce mistakes and optimize material usage, leading to lower costs
Faster
Components are pre-cut and/or assembled, saving labor and time
Safer
Less cutting on the job reduces injury risk for a safer and cleaner jobsite
Lower Waste
Put less in the dumpster
Reduce disposal fees
1
Cleaner site
Builders' Supply & Lumber Co. acquired by
JLL Partners
1998
Successfully
navigated
Great Recession and housing market collapse
2008 - 2011
Builders FirstSource acquired ProBuild, creating a national professional dealer with
~400 locations across 40 states
JUL 2015
BFS and BMC merge, creating nation's
premier supplier of building materials and services, operating ~550 locations across 40 states
JAN 2021
Acquired WTS Paradigm, a software solutions and services provider for the building products industry - major step in digital journey
AUG 2021
Added to S&P 500, a significant achievement reflecting our growth and position as the industry leader for building products
DEC 2023
2005
Commenced IPO of Builders
FirstSource on Nasdaq
2012
Exceeded $1B in revenues for first time in 5 years
DEC 2015
Stock Building Supply completed merger with BMC, to form BMC Stock Holdings
JULY 2021
Completed listing transfer to NYSE
SINCE 2021
BMC Merger
~$3.8B of Tuck-in Acquisitions1
to further expand national reach and capabilities
Continuing to Take Transformative Actions to Accelerate Our Lead
1 As of 3/31/26. 7
Key Accomplishments Since the 2021 Merger
Delivered organic sales growth and margin expansion
Established strong track record of M&A execution
Accelerated digital transformation
Transformative Actions Underway
Diversifying product mix toward higher margin value-added products and services
Advancing the industry with digital solutions and capabilities
Investing in manufacturing automation and enhancements ($400M1 since 2020) to drive operational excellence and address labor challenges
Continued Leadership Focus
Exceptional leadership team with an average of
>30 years field leadership experience, providing deep bench strength
Foster commercial and operational excellence
Drive continued growth of value-added offerings to structurally improve Adjusted EBITDA margins
Maintain fortress balance sheet and compound value through disciplined capital allocation
Consistent and Clear Strategy to Compound Shareholder Value
$15.2B BLDR 2025 Revenue1
Total Addressable Market (
Single-Family2
U.S. New Construction Building Materials
~10%
~$143B Multi-Family3
~1%
~$212B
R&R4
~1%
Deepening wallet share with
existing customers
Expanding product offerings
Increasing value-added products
Capturing market share in
under-penetrated geographies
68%
2025 Revenue
10%
2025 Revenue
15%
2025 Revenue
Scaling digital platform and technology to drive stickier customer relationships
1 Percent of 2025 Revenue will not foot to 100% for Single-Family, Multi-Family and R&R because Other (7%) is not included.
2 Source: TAM generated using U.S. Census, NAHB, and Company estimates of all building materials and not just the products that we sell; ~$138k assumed materials cost per home based on Company estimates.
3 Source: DODGE and Company estimates.
4 Source: HIRI Professional Repair & Remodel and Company estimates. 9
Note: Share is based on 2025 Company sales and 2025 industry data.
2,500
2,000
1,500
1,000
500
20-year Average
Underlying fundamentals for demand support continued housing growth
Housing Starts
Cumulative Underbuilt Homes
Housing Starts (000s) YoY Growth in Households (000s)
Underbuilt by ~1M to ~4M Homes Since 2010
2,750
2,250
1,750
1,250
750
250
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
0 (250)
8.0
7.0
6.0
5.0
4.0
3.0
2.0
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
1.0
Annual Average Rate on 30-year Fixed-Rate Mortgages1 (%)
25-year Average 5.1%
Demographic and Economic Factors
Homes have been underbuilt by approximately one million to four million homes since 2010, creating a long-term tailwind
Current interest rates are elevated relative to historical averages, delaying household formation
Strong case for housing to have room to run if we can be more efficient as an industry
PEOPLE SCALE PRODUCT DIGITAL
Hire, train, and retain best people in industry through talent leadership programs, including BFS University
Promote from within:
>5,6001 internal promotions
since 2021 Investor Day
Leverage systems, processes, and tools for continuous improvement
Rigorous talent and succession planning
Development plans for key talent
Train and develop at all levels
Remain focused in top CBSAs2 - currently serving 94 of top 100
Gain share in underserved markets through tuck-ins
Maximize capacity
utilization
Maximize footprint to reduce cost to serve and improve service quality
Focus on value-add to address customer needs (e.g., cycle time, labor, availability, and quality)
Install services are driving growth as a vital tool in addressing customer labor challenges
Capitalize on automation investments for efficiency advantage in offsite fabrication
Leverage unique capabilities to provide turnkey solutions
BFS digital solutions streamline the homebuilding industry for all stakeholders
Core to how we operate: Build consumer-grade solutions to improve team member efficiency, engagement, and performance
Amplifies organic growth: Digitally enable team members, customer relationships, and value-added product development
Evolve the digital ecosystem for builders, suppliers and technology partners
Innovation Enhances Scale for End-to-End Solutions
1 Internal promotions for FY 2022 through FY 2025.
Experienced field leadership and management working to develop the next generation of talent supported by a strong, inclusive culture and values-driven approach
Building Excellence
Drive annual efficiencies through our scale, continuing to invest in automation and process improvement, and leveraging the largest sales organization and offsite manufacturing network in the industry
Building Growth
Grow our business by continuing to invest in value-added products and digital solutions to help address our customers' pain points and deliver greater efficiency across homebuilding
Delivering Superior Value through Operational Excellence
Organic Growth with a Focus on Value-Added Products and Services
Drive Operational Excellence & Invest in Digital and Innovation
Continue to Build Our High-Performing Culture
Disciplined Capital Allocation
Continuing to Compound Value Creation with Strong Execution
Accelerate Market Penetration
Capture Single Family potential, especially in underserved regions and product categories
Grow Multi-Family and pro-remodeling segments in targeted markets
Offer Innovative Solutions for Customer Labor Challenges
Increase offsite assembly, other innovative solutions, and jobsite productivity, while fueling our profitable growth; strong tailwind to our manufactured products
Deploy Capital to Grow and Increase Value-Added Solutions
Truss & Panel: Well-positioned facilities allow us to respond to market demand
Millwork: Add capacity in key markets to meet growing demand
READY-FRAME®: Expand our geographic scale from coast to coast
Continue to Pursue Solutions Across the Value-Added Continuum
OFFSITE FAB INSTALL TURNKEY SHELL MODULAR
Evolving Further Along the Value-Added Continuum is Essential in Our Long-Term Strategy
~$2.5B
2025 Install Sales
(~17% of Total Revenue)1
Value-added opportunity for both BFS and customers
Providing bundled solutions with labor as a service to address customers' shortage of labor availability - crucial across all markets
Offering multiple turnkey solutions for various residential construction sites (e.g., apartment complexes, single-family homes, etc.)
Organic and inorganic growth opportunity
Top Product Opportunities
MILLWORK WINDOWS FRAMING SIDING
Install Capability in Approximately Two-Thirds of Our Markets - Opportunity to Further Grow
1 Represents net sales from installation and construction services, including the impact from the materials installed.
Create Value Through Continuous Improvement Initiatives
Innovation and Efficiency Are Key Differentiators
Scale and Integration
Technology and Digital
Process Improvement
Unified Product Catalog
Robust Operating Model
SAP & Integrated Data
Intelligent Automation
AI-Enabled Operations
Planning and Sourcing
Workflow Automation
Performance Visibility & KPIs
Scalable Playbooks & SMEs
Industry-leading offsite manufacturing & automation
Investment in technology & digital platform
Customer experience analytics
Pricing and cost harmonization
AI-powered quoting & estimating
Last-mile delivery intelligence & route optimization
Leveraging Scale, Data, and AI to Accelerate Homebuilding Productivity
ACHIEVEMENTS
Productivity: $571M1 of total productivity savings over the last five years related to operational excellence and supply chain initiatives
Truss: improved board foot per hour ~43%2 since the BMC merger in January 2021
Millwork: increased overall Millwork capacity by more than 50% with the installation of 21 new high-speed door lines
Near-Term Efficiency Focus
Optimize fleet productivity delivering faster turnaround and more deliveries per truck per day
Drive first-time accuracy in quoting, order entry, and production, reducing rework and waste
Eliminate waste in component plants through targeted continuous improvement
Repeatable Playbook to Drive Strong Annual Productivity in Controllable Spend
1 Represents sum of annual productivity savings and merger synergies for FY 2021-2025.
2 Adjusted to be on a same store basis.
Industry-Leading Sales Organization
>13 years average tenure of our Outside Sales Team
~2,700
OUTSIDE SALES REPRESENTATIVES
>140K
CUSTOMERS
SERVED
~2,550
INSIDE SALES REPRESENTATIVES
~95%
CUSTOMER
RETENTION
Solving Builder Pain Points by Leveraging Our Network of Value-Added Components
~160 component (truss & wall panel) operations today
Clear Sales Incentives Aligned with Long-Term Profitable Growth
>95% of sales team members are commission based
~85%
CUSTOMERS BUYING 2 OR MORE CATEGORIES
Diversified Customer Base
Largest customer is ~4% of sales, which minimizes reliance on any one customer
Stats as of 12/31/25.
SOLVING PAIN POINTS
FOR CUSTOMERS
We are the easiest to do business with given our product expertise and portfolio, footprint, and tenured sales team members
Creating value for a range of homebuilders through our offsite fabrication and install business, which address labor availability challenges and time to build
Customer Segment Value Proposition
National - Leader in overall scale and offsite manufacturing across an aligned, nationwide footprint that matches builder needs in our markets
Regional - Leveraging our ~2,700 outside sellers to maintain relationships and strengthen builder capabilities
Custom - Local coverage and expertise to support
higher-touch custom homes and enhance builder image
Pro Remodeling - Inside and outside sales bolster remodelers via dedicated locations and services in key markets
Multi-Family - Value-added network provides footprint to deliver our best-in-class design capabilities and capacity to go where Multi-Family builders go
BFS BENEFITS
Value-Added Growth
Mix Improvement
Margin
Improvement Share Growth
Driving Meaningful Growth Through Commercial Excellence and Operational Efficiency
Digital Amplifies Our Core and Streamlines the Homebuilding Industry for All Stakeholders
Core to How We Operate Amplifies Organic Growth Evolves the Digital Ecosystem
Build consumer-grade solutions to improve team member efficiency, engagement, and performance
Digitally enable team members, customer relationships, and value-added product development
Evolves the digital ecosystem for builders, suppliers, and technology partners
Disclaimer
Builders FirstSource Inc. published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 17:08 UTC.