TopBuild (BLD) Financials

$408.09 +0.12 (+0.03%)

Closing price 05/22/2026 03:59 PM Eastern

Extended Trading

$407.62 -0.46 (-0.11%)

As of 05/22/2026 06:16 PM Eastern

Annual Income Statements for TopBuild

This table shows TopBuild's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	79	73	158	270	191	247	324	556	614	623	522
Consolidated Net Income / (Loss)	79	73	158	270	191	247	324	556	614	623	522
Net Income / (Loss) Continuing Operations	79	73	158	0.00	191	247	324	556	614	623	522
Total Pre-Tax Income	74	116	128	181	254	323	433	742	825	841	704
Total Operating Income	84	122	137	209	290	355	476	797	879	886	792
Total Gross Profit	358	400	461	576	681	746	974	1,487	1,604	1,625	1,569
Total Revenue	1,617	1,743	1,906	2,384	2,624	2,718	3,486	5,009	5,195	5,330	5,409
Operating Revenue	1,617	1,743	1,906	2,384	2,624	2,718	3,486	5,009	5,195	5,330	5,409
Total Cost of Revenue	1,259	1,343	1,445	1,808	1,943	1,972	2,512	3,522	3,591	3,705	3,840
Operating Cost of Revenue	1,259	1,343	1,445	1,808	1,943	1,972	2,512	3,522	3,591	3,705	3,840
Total Operating Expenses	274	279	324	367	392	391	498	690	725	739	777
Selling, General & Admin Expense	274	279	294	367	392	391	498	690	725	739	777
Total Other Income / (Expense), net	-9.42	-5.33	-8.82	-28	-36	-32	-43	-55	-53	-46	-88
Interest Expense	9.47	5.61	9.11	29	38	33	43	57	75	73	104
Other Income / (Expense), net	0.05	0.28	0.28	0.56	2.08	0.73	0.00	1.69	21	28	15
Income Tax Expense	-5.01	44	-30	46	63	76	109	186	211	218	182
Basic Earnings per Share	$2.10	$1.93	$4.41	$3.86	$5.65	$7.50	$9.88	$17.26	$19.44	$20.41	$18.41
Weighted Average Basic Shares Outstanding	37.67M	37.59M	35.90M	34.92M	33.81M	32.92M	32.80M	32.21M	31.60M	30.50M	28.33M
Diluted Earnings per Share	$2.09	$1.92	$4.32	$3.78	$5.56	$7.42	$9.78	$17.14	$19.33	$20.29	$18.28
Weighted Average Diluted Shares Outstanding	37.67M	37.87M	36.57M	35.61M	34.38M	33.30M	33.15M	32.44M	31.78M	30.68M	28.54M
Weighted Average Basic & Diluted Shares Outstanding	37.67M	37.59M	35.90M	34.90M	33.49M	33.02M	32.93M	31.67M	31.78M	29.23M	28.14M

This table shows TopBuild's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	168	146	152	151	169	151	123	152	142	105	105
Consolidated Net Income / (Loss)	168	146	152	151	169	151	123	152	142	105	105
Net Income / (Loss) Continuing Operations	168	146	152	151	169	151	123	152	142	105	105
Total Pre-Tax Income	225	194	207	203	228	203	166	204	191	144	140
Total Operating Income	237	205	215	210	244	217	177	220	215	180	175
Total Gross Profit	421	391	387	424	422	392	351	394	419	405	400
Total Revenue	1,326	1,286	1,279	1,366	1,373	1,312	1,233	1,297	1,393	1,485	1,446
Operating Revenue	1,326	1,286	1,279	1,366	1,373	1,312	1,233	1,297	1,393	1,485	1,446
Total Cost of Revenue	905	895	892	942	951	920	882	903	974	1,081	1,046
Operating Cost of Revenue	905	895	892	942	951	920	882	903	974	1,081	1,046
Total Operating Expenses	183	186	173	214	178	175	174	174	204	225	225
Selling, General & Admin Expense	183	186	173	214	178	175	174	174	204	225	225
Total Other Income / (Expense), net	-13	-10	-7.51	-7.22	-16	-15	-12	-16	-25	-36	-35
Interest Expense	19	19	19	19	18	17	17	21	28	38	37
Other Income / (Expense), net	6.02	8.73	11	11	2.36	2.55	5.09	4.35	3.91	2.07	1.33
Income Tax Expense	57	48	55	52	59	52	43	52	48	39	35
Basic Earnings per Share	$5.30	$4.63	$4.82	$4.81	$5.68	$5.10	$4.25	$5.34	$5.08	$3.74	$3.75
Weighted Average Basic Shares Outstanding	31.62M	31.60M	31.64M	31.32M	29.75M	30.50M	29.03M	28.37M	28.02M	28.33M	27.98M
Diluted Earnings per Share	$5.27	$4.60	$4.79	$4.78	$5.65	$5.07	$4.23	$5.32	$5.04	$3.69	$3.73
Weighted Average Diluted Shares Outstanding	31.79M	31.78M	31.84M	31.52M	29.93M	30.68M	29.17M	28.52M	28.20M	28.54M	28.13M
Weighted Average Basic & Diluted Shares Outstanding	31.77M	31.78M	31.82M	30.17M	29.50M	29.23M	28.59M	28.14M	28.07M	28.14M	28.14M

This table details how cash moves in and out of TopBuild's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	110	22	-78	44	84	145	-190	100	608	-448	-216
Net Cash From Operating Activities	56	77	113	167	272	358	403	496	849	776	756
Net Cash From Continuing Operating Activities	56	77	113	167	272	358	403	496	849	776	756
Net Income / (Loss) Continuing Operations	79	73	158	135	191	247	324	556	614	623	522
Consolidated Net Income / (Loss)	79	73	158	135	191	247	324	556	614	623	522
Depreciation Expense	12	12	16	39	53	62	79	123	133	140	169
Amortization Expense	0.17	0.34	0.40	1.20	1.56	1.49	2.04	2.87	2.88	2.88	3.62
Non-Cash Adjustments To Reconcile Net Income	3.22	15	17	18	25	24	34	26	29	37	51
Changes in Operating Assets and Liabilities, net	-38	-23	-79	-26	1.78	23	-36	-213	70	-27	11
Net Cash From Investing Activities	-12	-17	-109	-552	-50	-122	-1,322	-94	-198	-204	-1,990
Net Cash From Continuing Investing Activities	-12	-17	-109	-552	-50	-122	-1,322	-94	-198	-204	-1,990
Purchase of Property, Plant & Equipment	-14	-14	-25	-53	-46	-41	-56	-76	-64	-69	-59
Acquisitions	-	-3.48	-84	-500	-6.95	-83	-1,267	-21	-149	-137	-1,932
Sale of Property, Plant & Equipment	0.81	0.72	0.60	0.85	2.32	2.46	0.42	2.98	15	2.59	1.22
Net Cash From Financing Activities	66	-38	-82	429	-138	-91	729	-300	-44	-1,016	1,017
Net Cash From Continuing Financing Activities	66	-38	-82	429	-138	-91	729	-300	-44	-1,016	1,017
Repayment of Debt	-6.72	-15	-413	-116	-28	-327	-448	-109	-40	-47	-711
Repurchase of Common Equity	-	-22	-139	-65	-111	-49	-36	-250	0.00	-966	-434
Issuance of Debt	200	-	475	617	15	300	1,219	70	0.00	0.00	2,178
Other Financing Activities, net	-127	-1.16	-4.76	-6.31	-14	-14	-6.15	-11	-3.70	-2.88	-16
Cash Interest Paid	2.23	4.13	6.42	24	36	31	22	50	71	70	88
Cash Income Taxes Paid	21	40	23	39	43	78	109	187	221	219	187

This table details how cash moves in and out of TopBuild's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	89	233	120	-506	-206	143	-92	534	300	-958	84
Net Cash From Operating Activities	203	261	179	90	241	266	153	194	233	177	161
Net Cash From Continuing Operating Activities	203	261	179	90	241	266	153	194	233	177	161
Net Income / (Loss) Continuing Operations	168	146	152	151	169	151	123	152	142	105	105
Consolidated Net Income / (Loss)	168	146	152	151	169	151	123	152	142	105	105
Depreciation Expense	34	35	34	35	35	36	36	36	42	55	56
Amortization Expense	0.72	0.72	0.72	0.72	0.72	0.72	0.72	0.83	0.89	1.18	1.22
Non-Cash Adjustments To Reconcile Net Income	9.98	4.65	12	12	10	6.40	22	9.62	10	8.60	11
Changes in Operating Assets and Liabilities, net	-9.19	75	-21	-109	25	73	-30	-4.25	38	7.09	-12
Net Cash From Investing Activities	-105	-17	-41	-81	-21	-61	-13	-33	-847	-1,098	-41
Net Cash From Continuing Investing Activities	-105	-17	-41	-81	-21	-61	-13	-33	-847	-1,098	-41
Purchase of Property, Plant & Equipment	-17	-16	-20	-16	-21	-13	-13	-12	-17	-17	-14
Acquisitions	-102	-1.54	-22	-66	-0.34	-48	0.29	-21	-830	-1,081	-28
Sale of Property, Plant & Equipment	14	0.31	1.61	0.54	0.19	0.26	0.25	0.36	0.37	0.24	0.39
Net Cash From Financing Activities	-7.89	-12	-17	-515	-426	-59	-231	370	914	-37	-34
Net Cash From Continuing Financing Activities	-7.89	-12	-17	-515	-426	-59	-231	370	924	-46	-34
Repayment of Debt	-8.88	-12	-12	-12	-12	-11	-11	-483	-23	-194	-81
Repurchase of Common Equity	-	-	0.00	-	-414	-47	-216	-136	-66	-17	0.00
Issuance of Debt	-	-	-	-	-	-	0.00	-	1,000	178	65
Other Financing Activities, net	0.99	0.46	-5.04	2.20	-0.03	-0.02	-4.47	-10	12	-13	-19
Effect of Exchange Rate Changes	-0.33	1.14	-0.92	0.35	0.17	-4.08	0.10	-	-	-	-0.75

This table presents TopBuild's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,642	1,690	1,750	2,455	2,604	2,815	4,259	4,607	5,163	4,735	6,605
Total Current Assets	480	527	512	705	780	936	1,188	1,549	2,049	1,599	1,635
Cash & Equivalents	113	134	57	101	185	330	140	240	849	400	185
Accounts Receivable	236	253	309	407	429	427	668	836	799	752	894
Inventories, net	119	116	131	169	149	161	353	439	365	407	505
Prepaid Expenses	13	23	15	28	17	18	27	34	37	40	50
Plant, Property, & Equipment, net	93	93	107	168	178	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	1,069	1,071	1,131	1,582	1,646	1,879	3,071	3,058	3,114	3,136	4,971
Goodwill	1,044	1,045	1,077	1,364	1,368	1,411	1,950	1,967	2,043	2,112	3,045
Intangible Assets	1.99	2.66	33	199	181	191	684	615	591	558	1,352
Other Noncurrent Operating Assets	2.25	3.62	2.28	5.29	93	275	437	476	480	467	574
Total Liabilities & Shareholders' Equity	1,642	1,690	1,750	2,455	2,604	2,815	4,259	4,607	5,163	4,735	6,605
Total Liabilities	727	718	753	1,382	1,451	1,466	2,622	2,677	2,599	2,526	4,289
Total Current Liabilities	327	326	351	444	477	496	733	790	772	767	845
Short-Term Debt	15	20	13	27	34	23	39	40	47	49	63
Accounts Payable	253	242	264	313	308	332	462	487	470	456	440
Accrued Expenses	58	64	75	104	98	108	176	199	187	192	249
Other Current Liabilities	-	-	-	-	36	33	57	63	68	70	93
Total Noncurrent Liabilities	400	392	402	938	974	970	1,889	1,887	1,828	1,759	3,444
Long-Term Debt	178	159	229	717	698	683	1,454	1,417	1,373	1,327	2,784
Noncurrent Deferred & Payable Income Tax Liabilities	181	194	133	176	175	169	248	251	244	240	388
Other Noncurrent Operating Liabilities	40	39	39	45	101	118	186	219	211	191	273
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	916	973	997	1,072	1,153	1,349	1,636	1,930	2,564	2,210	2,316
Total Preferred & Common Equity	916	973	997	1,072	1,153	1,349	1,636	1,930	2,564	2,210	2,316
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	916	973	997	1,072	1,153	1,349	1,636	1,930	2,564	2,210	2,316
Common Stock	839	846	831	847	850	859	873	888	907	927	946
Retained Earnings	76	149	307	442	633	877	1,201	1,757	2,371	2,994	3,515
Treasury Stock	-	-22	-142	-217	-330	-387	-431	-693	-699	-1,681	-2,125
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	0.00	-6.63	-22	-15	-29	-20

This table presents TopBuild's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	4,506	4,701	4,858	5,014	5,310	4,903	4,651	4,596	5,120	6,410	6,711
Total Current Assets	1,450	1,613	1,795	1,882	2,202	1,760	1,521	1,494	2,018	2,447	1,757
Cash & Equivalents	159	334	526	616	969	463	257	309	842	1,142	269
Accounts Receivable	816	834	858	871	829	860	828	749	753	874	931
Inventories, net	447	422	385	357	375	394	392	406	385	386	515
Prepaid Expenses	27	23	26	38	29	44	44	31	38	45	42
Plant, Property, & Equipment, net	0.00	260	0.00	0.00	266	0.00	0.00	260	0.00	0.00	287
Total Noncurrent Assets	3,057	2,828	3,063	3,132	2,842	3,143	3,129	2,842	3,102	3,963	4,668
Goodwill	1,966	1,992	1,992	2,040	2,052	2,091	2,092	2,113	2,126	2,573	3,071
Intangible Assets	631	608	596	607	578	583	565	540	531	907	1,325
Other Noncurrent Operating Assets	459	228	476	486	211	469	472	189	444	483	272
Total Liabilities & Shareholders' Equity	4,506	4,701	4,858	5,014	5,310	4,903	4,651	4,596	5,120	6,410	6,711
Total Liabilities	2,672	2,636	2,620	2,606	2,598	2,546	2,536	2,480	2,976	4,187	4,307
Total Current Liabilities	789	751	758	754	784	752	756	739	714	843	880
Short-Term Debt	37	42	45	48	46	46	45	53	50	63	63
Accounts Payable	510	451	469	456	468	461	461	423	418	464	471
Accrued Expenses	181	193	181	183	201	177	180	194	179	243	252
Other Current Liabilities	60	65	64	67	69	69	69	70	68	73	94
Total Noncurrent Liabilities	1,883	1,885	1,862	1,853	1,814	1,793	1,780	1,742	2,262	3,344	3,427
Long-Term Debt	1,429	1,406	1,395	1,384	1,362	1,352	1,341	1,313	1,833	2,799	2,770
Noncurrent Deferred & Payable Income Tax Liabilities	245	252	255	252	244	244	243	238	238	331	396
Other Noncurrent Operating Liabilities	210	227	212	216	208	198	195	191	191	214	262
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,834	2,065	2,238	2,408	2,712	2,357	2,114	2,116	2,144	2,223	2,404
Total Preferred & Common Equity	1,834	2,065	2,238	2,408	2,712	2,357	2,114	2,116	2,144	2,223	2,404
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,834	2,065	2,238	2,408	2,712	2,357	2,114	2,116	2,144	2,223	2,404
Common Stock	885	892	896	901	913	920	923	931	936	943	951
Retained Earnings	1,613	1,893	2,057	2,225	2,523	2,674	2,843	3,117	3,269	3,411	3,620
Treasury Stock	-643	-699	-699	-699	-705	-1,216	-1,634	-1,903	-2,042	-2,108	-2,142
Accumulated Other Comprehensive Income / (Loss)	-21	-20	-16	-19	-19	-21	-18	-29	-19	-23	-24

This table displays calculated financial ratios and metrics derived from TopBuild's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	28,071,651.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	28,071,651.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	18.59
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.91%	7.81%	9.38%	25.07%	10.06%	3.58%	28.26%	43.67%	3.71%	2.60%	1.49%
EBITDA Growth	43.46%	40.03%	14.72%	62.42%	38.27%	21.34%	32.92%	65.83%	11.98%	2.07%	-7.27%
EBIT Growth	105.14%	45.83%	12.52%	52.77%	39.18%	22.01%	33.91%	67.68%	12.67%	1.53%	-11.66%
NOPAT Growth	491.31%	-14.85%	122.60%	-7.88%	39.93%	24.58%	31.20%	67.69%	9.50%	0.37%	-10.53%
Net Income Growth	739.85%	-8.06%	117.80%	70.43%	-29.13%	29.33%	31.17%	71.59%	10.48%	1.36%	-16.20%
EPS Growth	736.00%	-8.13%	125.00%	-12.50%	47.09%	33.45%	31.81%	75.26%	12.78%	4.97%	-9.91%
Operating Cash Flow Growth	-31.19%	37.09%	47.41%	47.69%	62.57%	31.68%	12.61%	23.02%	71.32%	-8.64%	-2.54%
Free Cash Flow Firm Growth	108.47%	-33.01%	-92.55%	-9,256.25%	161.59%	6.04%	-468.77%	148.45%	51.30%	-8.93%	-298.86%
Invested Capital Growth	0.67%	2.07%	16.22%	45.08%	-0.84%	1.48%	73.27%	5.26%	-0.38%	1.60%	56.29%
Revenue Q/Q Growth	0.00%	1.02%	3.10%	6.15%	0.88%	2.22%	10.87%	4.18%	0.42%	0.49%	3.30%
EBITDA Q/Q Growth	0.00%	-4.93%	11.29%	10.26%	3.90%	6.98%	5.46%	10.57%	1.29%	0.72%	-1.82%
EBIT Q/Q Growth	0.00%	-5.44%	11.36%	7.94%	4.13%	7.94%	3.27%	12.14%	0.99%	0.71%	-4.53%
NOPAT Q/Q Growth	0.00%	-34.57%	112.56%	-30.97%	3.08%	9.94%	2.91%	13.05%	-0.17%	1.11%	-4.91%
Net Income Q/Q Growth	0.00%	-34.62%	112.40%	33.96%	-55.10%	-15.25%	131.19%	13.35%	0.42%	0.67%	-8.11%
EPS Q/Q Growth	0.00%	-34.47%	112.81%	-31.89%	5.10%	11.58%	2.62%	14.11%	0.52%	2.37%	-7.02%
Operating Cash Flow Q/Q Growth	19.43%	-2.51%	9.40%	8.13%	7.03%	3.82%	-2.10%	15.53%	13.46%	0.69%	-10.58%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	262.47%	2.83%	7.03%	-17.20%	-1,092.18%	164.70%	16.30%	-3.70%	-1,389.58%
Invested Capital Q/Q Growth	0.00%	-2.10%	5.45%	-1.14%	-1.65%	2.81%	54.68%	0.18%	-2.76%	-1.80%	26.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.15%	22.97%	24.19%	24.16%	25.96%	27.46%	27.95%	29.68%	30.87%	30.49%	29.01%
EBITDA Margin	5.93%	7.70%	8.08%	10.49%	13.18%	15.44%	16.00%	18.47%	19.94%	19.84%	18.12%
Operating Margin	5.17%	6.98%	7.18%	8.76%	11.03%	13.06%	13.67%	15.92%	16.92%	16.63%	14.64%
EBIT Margin	5.17%	6.99%	7.19%	8.79%	11.11%	13.09%	13.67%	15.95%	17.33%	17.15%	14.93%
Profit (Net Income) Margin	4.89%	4.17%	8.30%	11.30%	7.28%	9.09%	9.29%	11.10%	11.82%	11.68%	9.65%
Tax Burden Percent	106.55%	62.44%	123.50%	149.04%	75.26%	76.46%	74.75%	74.92%	74.41%	74.05%	74.15%
Interest Burden Percent	88.68%	95.40%	93.36%	86.31%	87.03%	90.81%	90.98%	92.90%	91.71%	92.00%	87.15%
Effective Tax Rate	-6.76%	37.56%	-23.50%	25.48%	24.74%	23.54%	25.25%	25.08%	25.59%	25.95%	25.85%
Return on Invested Capital (ROIC)	8.98%	7.54%	15.37%	10.75%	12.76%	15.85%	15.11%	19.46%	20.82%	20.77%	14.39%
ROIC Less NNEP Spread (ROIC-NNEP)	-8.31%	2.22%	5.89%	38.24%	8.24%	10.56%	11.39%	16.26%	16.38%	16.41%	10.79%
Return on Net Nonoperating Assets (RNNOA)	-0.53%	0.15%	0.69%	15.30%	4.41%	3.90%	6.60%	11.72%	6.52%	5.32%	8.67%
Return on Equity (ROE)	8.46%	7.69%	16.06%	26.06%	17.17%	19.75%	21.71%	31.18%	27.34%	26.09%	23.06%
Cash Return on Invested Capital (CROIC)	8.31%	5.49%	0.37%	-26.03%	13.60%	14.38%	-38.52%	14.34%	21.20%	19.19%	-29.54%
Operating Return on Assets (OROA)	5.36%	7.32%	7.97%	9.97%	11.53%	13.13%	13.47%	18.02%	18.43%	18.47%	14.24%
Return on Assets (ROA)	5.06%	4.36%	9.19%	12.82%	7.55%	9.12%	9.16%	12.54%	12.57%	12.58%	9.20%
Return on Common Equity (ROCE)	8.46%	7.69%	16.06%	26.06%	17.17%	19.75%	21.71%	31.18%	27.34%	26.09%	23.06%
Return on Equity Simple (ROE_SIMPLE)	8.62%	7.47%	15.87%	25.14%	16.57%	18.31%	19.80%	28.81%	23.96%	28.18%	0.00%
Net Operating Profit after Tax (NOPAT)	89	76	169	156	218	271	356	597	654	656	587
NOPAT Margin	5.52%	4.36%	8.87%	6.53%	8.30%	9.99%	10.22%	11.92%	12.59%	12.31%	10.86%
Net Nonoperating Expense Percent (NNEP)	17.29%	5.32%	9.49%	-27.49%	4.52%	5.29%	3.71%	3.21%	4.44%	4.36%	3.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	17.63%	16.42%	18.31%	11.37%
Cost of Revenue to Revenue	77.85%	77.03%	75.81%	75.84%	74.04%	72.54%	72.05%	70.32%	69.13%	69.51%	70.99%
SG&A Expenses to Revenue	16.98%	15.99%	15.44%	15.40%	14.93%	14.40%	14.28%	13.77%	13.96%	13.86%	14.37%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.98%	15.99%	17.01%	15.40%	14.93%	14.40%	14.28%	13.77%	13.96%	13.86%	14.37%
Earnings before Interest and Taxes (EBIT)	84	122	137	210	292	356	476	799	900	914	807
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	96	134	154	250	346	420	558	925	1,036	1,057	980
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.27	1.39	2.70	1.49	3.04	4.51	5.55	2.59	4.64	4.16	5.06
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.72	0.78	1.41	0.67	1.33	2.24	2.61	1.00	2.29	1.72	2.17
Price to Earnings (P/E)	14.68	18.65	17.04	5.91	18.32	24.61	28.04	9.00	19.36	14.75	22.45
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.81%	5.36%	5.87%	16.93%	5.46%	4.06%	3.57%	11.11%	5.17%	6.78%	4.45%
Enterprise Value to Invested Capital (EV/IC)	1.24	1.38	2.44	1.30	2.38	3.74	3.49	1.98	3.98	3.19	2.89
Enterprise Value to Revenue (EV/Rev)	0.77	0.80	1.51	0.94	1.54	2.38	2.99	1.24	2.40	1.91	2.66
Enterprise Value to EBITDA (EV/EBITDA)	12.94	10.42	18.70	8.93	11.70	15.38	18.71	6.72	12.03	9.61	14.66
Enterprise Value to EBIT (EV/EBIT)	14.84	11.48	21.00	10.67	13.88	18.15	21.91	7.79	13.85	11.12	17.80
Enterprise Value to NOPAT (EV/NOPAT)	13.91	18.42	17.04	14.35	18.57	23.78	29.31	10.42	19.06	15.48	24.48
Enterprise Value to Operating Cash Flow (EV/OCF)	22.14	18.22	25.44	13.37	14.89	18.04	25.90	12.55	14.67	13.09	19.00
Enterprise Value to Free Cash Flow (EV/FCFF)	15.02	25.29	699.42	0.00	17.43	26.22	0.00	14.14	18.72	16.76	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.18	0.24	0.69	0.64	0.52	0.91	0.76	0.55	0.62	1.23
Long-Term Debt to Equity	0.19	0.16	0.23	0.67	0.61	0.51	0.89	0.73	0.54	0.60	1.20
Financial Leverage	0.06	0.07	0.12	0.40	0.53	0.37	0.58	0.72	0.40	0.32	0.80
Leverage Ratio	1.67	1.76	1.75	2.03	2.27	2.17	2.37	2.49	2.17	2.07	2.51
Compound Leverage Factor	1.48	1.68	1.63	1.75	1.98	1.97	2.16	2.31	1.99	1.91	2.18
Debt to Total Capital	17.44%	15.53%	19.53%	40.95%	38.84%	34.38%	47.71%	43.03%	35.65%	38.37%	55.14%
Short-Term Debt to Total Capital	1.35%	1.74%	1.01%	1.48%	1.82%	1.13%	1.23%	1.18%	1.18%	1.36%	1.21%
Long-Term Debt to Total Capital	16.09%	13.79%	18.52%	39.47%	37.02%	33.25%	46.48%	41.84%	34.47%	37.01%	53.93%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	82.56%	84.47%	80.47%	59.05%	61.16%	65.62%	52.29%	56.97%	64.35%	61.63%	44.86%
Debt to EBITDA	2.02	1.33	1.57	2.97	2.12	1.68	2.68	1.58	1.37	1.30	2.90
Net Debt to EBITDA	0.84	0.33	1.20	2.57	1.58	0.90	2.43	1.32	0.55	0.92	2.72
Long-Term Debt to EBITDA	1.86	1.18	1.49	2.87	2.02	1.63	2.61	1.53	1.33	1.26	2.84
Debt to NOPAT	2.17	2.35	1.43	4.77	3.36	2.60	4.19	2.44	2.17	2.10	4.85
Net Debt to NOPAT	0.90	0.59	1.10	4.13	2.51	1.39	3.80	2.04	0.87	1.49	4.53
Long-Term Debt to NOPAT	2.00	2.09	1.36	4.60	3.20	2.52	4.08	2.37	2.10	2.02	4.74
Altman Z-Score	2.29	2.67	3.85	2.32	3.30	4.49	3.79	3.51	5.27	5.04	3.75
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.47	1.62	1.46	1.59	1.64	1.89	1.62	1.96	2.66	2.08	1.94
Quick Ratio	1.07	1.19	1.04	1.14	1.29	1.53	1.10	1.36	2.14	1.50	1.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	83	55	4.12	-377	232	246	-908	440	666	606	-1,206
Operating Cash Flow to CapEx	436.26%	571.40%	458.17%	323.63%	628.90%	930.17%	731.03%	675.41%	1,732.92%	1,162.48%	1,299.25%
Free Cash Flow to Firm to Interest Expense	8.72	9.86	0.45	-13.14	6.14	7.53	-21.13	7.76	8.92	8.29	-11.62
Operating Cash Flow to Interest Expense	5.92	13.69	12.43	5.83	7.19	10.95	9.38	8.74	11.38	10.62	7.29
Operating Cash Flow Less CapEx to Interest Expense	4.56	11.30	9.72	4.03	6.04	9.77	8.09	7.45	10.73	9.70	6.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.04	1.05	1.11	1.13	1.04	1.00	0.99	1.13	1.06	1.08	0.95
Accounts Receivable Turnover	7.09	7.14	6.79	6.66	6.28	6.35	6.36	6.66	6.35	6.87	6.57
Inventory Turnover	11.15	11.43	11.68	12.04	12.22	12.70	9.77	8.90	8.94	9.61	8.42
Fixed Asset Turnover	17.36	18.76	19.07	17.33	15.17	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	5.22	5.43	5.72	6.27	6.26	6.16	6.33	7.42	7.51	8.00	8.57
Days Sales Outstanding (DSO)	51.45	51.12	53.72	54.78	58.14	57.49	57.36	54.82	57.44	53.10	55.54
Days Inventory Outstanding (DIO)	32.72	31.93	31.26	30.31	29.88	28.74	37.36	41.01	40.83	38.00	43.33
Days Payable Outstanding (DPO)	69.90	67.27	63.82	58.24	58.35	59.21	57.66	49.18	48.62	45.62	42.61
Cash Conversion Cycle (CCC)	14.27	15.78	21.16	26.85	29.67	27.01	37.06	46.65	49.65	45.48	56.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	996	1,017	1,182	1,715	1,700	1,726	2,990	3,147	3,135	3,185	4,978
Invested Capital Turnover	1.63	1.73	1.73	1.65	1.54	1.59	1.48	1.63	1.65	1.69	1.33
Increase / (Decrease) in Invested Capital	6.63	21	165	533	-14	25	1,264	157	-12	50	1,793
Enterprise Value (EV)	1,240	1,399	2,880	2,235	4,047	6,456	10,438	6,221	12,463	10,161	14,373
Market Capitalization	1,159	1,354	2,695	1,592	3,499	6,079	9,084	5,003	11,892	9,185	11,711
Book Value per Share	$24.30	$25.56	$28.01	$30.30	$33.96	$40.84	$49.70	$60.36	$80.68	$72.44	$82.51
Tangible Book Value per Share	($3.46)	($1.98)	($3.20)	($13.88)	($11.67)	($7.65)	($30.30)	($20.40)	($2.20)	($15.09)	($74.12)
Total Capital	1,109	1,151	1,238	1,816	1,885	2,056	3,130	3,387	3,984	3,586	5,163
Total Debt	193	179	242	743	732	707	1,493	1,457	1,420	1,376	2,847
Total Long-Term Debt	178	159	229	717	698	683	1,454	1,417	1,373	1,327	2,784
Net Debt	81	44	185	643	547	377	1,353	1,217	572	976	2,662
Capital Expenditures (CapEx)	13	13	25	52	43	38	55	73	49	67	58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	56	86	116	186	153	133	353	559	476	480	668
Debt-free Net Working Capital (DFNWC)	169	221	173	287	337	463	493	799	1,325	881	852
Net Working Capital (NWC)	154	201	160	260	303	440	454	759	1,278	832	790
Net Nonoperating Expense (NNE)	10	3.33	11	-114	27	24	32	41	40	34	66
Net Nonoperating Obligations (NNO)	81	44	185	643	547	377	1,353	1,217	572	976	2,662
Total Depreciation and Amortization (D&A)	12	12	17	41	54	64	81	126	136	143	173
Debt-free, Cash-free Net Working Capital to Revenue	3.45%	4.95%	6.09%	7.82%	5.81%	4.90%	10.13%	11.17%	9.17%	9.01%	12.34%
Debt-free Net Working Capital to Revenue	10.43%	12.66%	9.06%	12.05%	12.86%	17.04%	14.14%	15.96%	25.50%	16.52%	15.76%
Net Working Capital to Revenue	9.51%	11.51%	8.40%	10.92%	11.55%	16.19%	13.03%	15.16%	24.60%	15.61%	14.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.10	$1.93	$4.41	$3.86	$5.65	$7.50	$9.88	$17.26	$19.44	$20.41	$18.41
Adjusted Weighted Average Basic Shares Outstanding	37.83M	37.72M	35.54M	34.92M	33.81M	32.92M	32.80M	32.21M	31.60M	30.50M	28.33M
Adjusted Diluted Earnings per Share	$2.09	$1.92	$4.32	$3.78	$5.56	$7.42	$9.78	$17.14	$19.33	$20.29	$18.28
Adjusted Weighted Average Diluted Shares Outstanding	37.83M	37.72M	35.54M	35.61M	34.38M	33.30M	33.15M	32.44M	31.78M	30.68M	28.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.83M	37.72M	35.54M	34.55M	33.49M	33.02M	32.93M	31.67M	31.78M	29.23M	28.14M
Normalized Net Operating Profit after Tax (NOPAT)	58	76	96	156	218	271	356	597	654	656	587
Normalized NOPAT Margin	3.62%	4.36%	5.03%	6.53%	8.30%	9.99%	10.22%	11.92%	12.59%	12.31%	10.86%
Pre Tax Income Margin	4.58%	6.67%	6.72%	7.58%	9.67%	11.89%	12.43%	14.82%	15.89%	15.78%	13.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.83	21.73	15.06	7.30	7.71	10.88	11.08	14.09	12.06	12.50	7.78
NOPAT to Interest Expense	9.42	13.54	18.56	5.43	5.76	8.30	8.29	10.53	8.76	8.98	5.66
EBIT Less CapEx to Interest Expense	7.47	19.34	12.35	5.50	6.57	9.71	9.80	12.79	11.41	11.59	7.22
NOPAT Less CapEx to Interest Expense	8.07	11.14	15.85	3.63	4.62	7.13	7.00	9.24	8.11	8.07	5.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	30.71%	88.08%	24.13%	58.07%	19.90%	10.97%	44.97%	0.00%	155.21%	83.21%

This table displays calculated financial ratios and metrics derived from TopBuild's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	28,071,651.00	28,139,530.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	28,071,651.00	28,139,530.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	3.72	3.72
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.93%	1.70%	1.07%	3.67%	3.56%	2.03%	-3.55%	-4.99%	1.45%	13.19%	17.24%
EBITDA Growth	8.63%	5.60%	11.36%	-6.36%	1.71%	3.02%	-15.98%	1.30%	-7.22%	-7.09%	6.75%
EBIT Growth	9.41%	4.31%	12.14%	-8.26%	1.17%	3.03%	-19.14%	1.08%	-11.13%	-17.40%	-3.40%
NOPAT Growth	7.55%	-0.78%	6.83%	-10.65%	2.11%	4.68%	-16.44%	4.86%	-11.26%	-18.98%	-0.50%
Net Income Growth	9.01%	1.77%	12.15%	-8.32%	0.81%	2.84%	-19.03%	0.58%	-15.82%	-30.57%	-15.05%
EPS Growth	10.71%	2.22%	11.92%	-7.72%	7.21%	10.22%	-11.69%	11.30%	-10.80%	-27.22%	-11.82%
Operating Cash Flow Growth	71.86%	62.91%	5.29%	-58.17%	18.74%	2.03%	-14.65%	114.38%	-3.06%	-33.62%	5.34%
Free Cash Flow Firm Growth	109.06%	9,757.75%	706.03%	-86.33%	70.72%	-32.90%	-40.04%	1,591.11%	-433.38%	-1,591.66%	-1,595.00%
Invested Capital Growth	2.63%	-0.38%	-0.87%	4.44%	0.61%	1.60%	0.65%	-3.25%	21.54%	56.29%	56.59%
Revenue Q/Q Growth	0.67%	-3.02%	-0.57%	6.80%	0.56%	-4.45%	-6.01%	5.20%	7.38%	6.61%	-2.65%
EBITDA Q/Q Growth	1.02%	-10.40%	4.76%	-1.25%	9.73%	-9.24%	-14.56%	19.06%	0.50%	-9.12%	-1.83%
EBIT Q/Q Growth	0.74%	-12.31%	5.74%	-1.79%	11.10%	-10.70%	-17.01%	22.76%	-2.33%	-16.99%	-2.94%
NOPAT Q/Q Growth	1.42%	-12.93%	2.37%	-1.16%	15.90%	-10.73%	-18.29%	24.04%	-1.92%	-18.50%	0.35%
Net Income Q/Q Growth	1.95%	-12.66%	4.10%	-1.09%	12.10%	-10.90%	-18.04%	22.87%	-6.18%	-26.52%	0.29%
EPS Q/Q Growth	1.74%	-12.71%	4.13%	-0.21%	18.20%	-10.27%	-16.57%	25.77%	-5.26%	-26.79%	1.08%
Operating Cash Flow Q/Q Growth	-6.16%	28.74%	-31.49%	-49.46%	166.37%	10.62%	-42.68%	26.94%	20.45%	-24.25%	-9.05%
Free Cash Flow Firm Q/Q Growth	-19.26%	75.67%	11.78%	-91.38%	908.26%	-30.95%	-0.11%	143.18%	-298.76%	-208.94%	-0.12%
Invested Capital Q/Q Growth	2.30%	-2.76%	0.54%	4.43%	-1.47%	-1.80%	-0.40%	0.38%	23.78%	26.28%	-0.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.72%	30.41%	30.28%	31.04%	30.72%	29.88%	28.50%	30.37%	30.07%	27.24%	27.68%
EBITDA Margin	20.95%	19.35%	20.39%	18.86%	20.58%	19.54%	17.76%	20.11%	18.82%	16.04%	16.18%
Operating Margin	17.91%	15.92%	16.78%	15.41%	17.77%	16.57%	14.39%	16.94%	15.43%	12.10%	12.11%
EBIT Margin	18.36%	16.60%	17.66%	16.24%	17.94%	16.77%	14.80%	17.28%	15.71%	12.23%	12.20%
Profit (Net Income) Margin	12.64%	11.38%	11.92%	11.04%	12.30%	11.47%	10.00%	11.69%	10.21%	7.04%	7.25%
Tax Burden Percent	74.60%	75.32%	73.62%	74.18%	74.14%	74.26%	74.34%	74.46%	74.66%	72.83%	75.00%
Interest Burden Percent	92.27%	91.01%	91.68%	91.63%	92.51%	92.15%	90.91%	90.83%	87.02%	78.98%	79.24%
Effective Tax Rate	25.40%	24.68%	26.38%	25.82%	25.86%	25.74%	25.66%	25.54%	25.34%	27.17%	25.00%
Return on Invested Capital (ROIC)	21.71%	19.84%	20.32%	18.65%	21.60%	20.75%	17.88%	20.32%	16.79%	11.67%	12.54%
ROIC Less NNEP Spread (ROIC-NNEP)	20.81%	18.96%	19.60%	18.07%	20.38%	19.34%	16.73%	19.10%	15.51%	10.23%	11.08%
Return on Net Nonoperating Assets (RNNOA)	10.42%	7.55%	6.38%	7.27%	8.77%	6.27%	5.19%	8.38%	10.18%	8.22%	8.87%
Return on Equity (ROE)	32.13%	27.38%	26.70%	25.91%	30.37%	27.02%	23.07%	28.70%	26.97%	19.89%	21.41%
Cash Return on Invested Capital (CROIC)	17.99%	21.20%	21.85%	15.68%	19.47%	19.19%	19.28%	23.01%	-2.25%	-29.54%	-29.70%
Operating Return on Assets (OROA)	19.96%	17.66%	18.37%	17.49%	19.69%	18.06%	15.79%	17.98%	14.88%	11.67%	12.13%
Return on Assets (ROA)	13.74%	12.10%	12.40%	11.89%	13.50%	12.35%	10.67%	12.16%	9.67%	6.71%	7.21%
Return on Common Equity (ROCE)	32.13%	27.38%	26.70%	25.91%	30.37%	27.02%	23.07%	28.70%	26.97%	19.89%	21.41%
Return on Equity Simple (ROE_SIMPLE)	25.40%	0.00%	23.26%	26.18%	29.25%	0.00%	28.05%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	177	154	158	156	181	161	132	164	161	131	131
NOPAT Margin	13.36%	11.99%	12.35%	11.43%	13.17%	12.31%	10.70%	12.61%	11.52%	8.81%	9.08%
Net Nonoperating Expense Percent (NNEP)	0.90%	0.88%	0.71%	0.58%	1.23%	1.41%	1.14%	1.22%	1.28%	1.45%	1.46%
Return On Investment Capital (ROIC_SIMPLE)	-	3.87%	-	-	-	4.50%	3.79%	4.06%	3.16%	2.53%	2.51%
Cost of Revenue to Revenue	68.28%	69.59%	69.72%	68.96%	69.28%	70.12%	71.50%	69.63%	69.93%	72.76%	72.32%
SG&A Expenses to Revenue	13.81%	14.49%	13.50%	15.64%	12.95%	13.30%	14.11%	13.43%	14.64%	15.14%	15.58%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.81%	14.49%	13.50%	15.64%	12.95%	13.30%	14.11%	13.43%	14.64%	15.14%	15.58%
Earnings before Interest and Taxes (EBIT)	244	214	226	222	246	220	183	224	219	182	176
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	278	249	261	257	283	256	219	261	262	238	234
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.32	4.64	5.16	5.20	5.80	4.16	4.21	4.32	4.95	5.06	4.11
Price to Tangible Book Value (P/TBV)	0.00	0.00	172.09	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.54	2.29	2.69	2.33	2.31	1.72	1.69	1.77	2.10	2.17	1.76
Price to Earnings (P/E)	13.06	19.36	22.20	19.86	19.84	14.75	15.01	15.57	19.37	22.45	19.65
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.66%	5.17%	4.50%	5.03%	5.04%	6.78%	6.66%	6.42%	5.16%	4.45%	5.09%
Enterprise Value to Invested Capital (EV/IC)	2.73	3.98	4.58	4.01	4.13	3.19	3.14	3.23	3.23	2.89	2.51
Enterprise Value to Revenue (EV/Rev)	1.70	2.40	2.77	2.51	2.53	1.91	1.89	1.97	2.43	2.66	2.21
Enterprise Value to EBITDA (EV/EBITDA)	8.61	12.03	13.60	12.63	12.77	9.61	9.82	10.10	12.74	14.66	12.51
Enterprise Value to EBIT (EV/EBIT)	9.88	13.85	15.62	14.58	14.77	11.12	11.45	11.79	15.04	17.80	15.54
Enterprise Value to NOPAT (EV/NOPAT)	13.44	19.06	21.75	20.44	20.65	15.48	15.81	16.14	20.59	24.48	21.23
Enterprise Value to Operating Cash Flow (EV/OCF)	11.76	14.67	16.83	18.00	17.39	13.09	13.30	12.07	15.04	19.00	16.28
Enterprise Value to Free Cash Flow (EV/FCFF)	15.38	18.72	20.88	26.11	21.29	16.76	16.35	13.82	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.59	0.55	0.52	0.59	0.66	0.62	0.65	0.88	1.29	1.23	1.18
Long-Term Debt to Equity	0.57	0.54	0.50	0.57	0.63	0.60	0.62	0.86	1.26	1.20	1.15
Financial Leverage	0.50	0.40	0.33	0.40	0.43	0.32	0.31	0.44	0.66	0.80	0.80
Leverage Ratio	2.24	2.17	2.10	2.12	2.14	2.07	2.05	2.23	2.55	2.51	2.50
Compound Leverage Factor	2.07	1.98	1.92	1.95	1.98	1.91	1.87	2.02	2.22	1.98	1.98
Debt to Total Capital	37.29%	35.65%	34.19%	37.22%	39.61%	38.37%	39.22%	46.76%	56.27%	55.14%	54.09%
Short-Term Debt to Total Capital	1.25%	1.18%	1.12%	1.22%	1.29%	1.36%	1.51%	1.24%	1.23%	1.21%	1.19%
Long-Term Debt to Total Capital	36.04%	34.47%	33.06%	36.01%	38.32%	37.01%	37.71%	45.52%	55.04%	53.93%	52.89%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.71%	64.35%	65.81%	62.78%	60.39%	61.63%	60.78%	53.24%	43.73%	44.86%	45.91%
Debt to EBITDA	1.40	1.37	1.33	1.34	1.32	1.30	1.34	1.85	2.87	2.90	2.85
Net Debt to EBITDA	0.80	0.55	0.41	0.89	1.08	0.92	1.04	1.02	1.72	2.72	2.58
Long-Term Debt to EBITDA	1.35	1.33	1.28	1.29	1.28	1.26	1.29	1.80	2.80	2.84	2.78
Debt to NOPAT	2.19	2.17	2.12	2.17	2.14	2.10	2.17	2.95	4.63	4.85	4.83
Net Debt to NOPAT	1.25	0.87	0.66	1.45	1.74	1.49	1.68	1.63	2.78	4.53	4.37
Long-Term Debt to NOPAT	2.11	2.10	2.05	2.09	2.07	2.02	2.08	2.87	4.53	4.74	4.72
Altman Z-Score	3.92	4.83	5.34	5.12	5.27	4.56	4.58	4.23	3.55	3.44	3.21
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.50	2.66	2.81	2.34	2.01	2.08	2.02	2.83	2.90	1.94	2.00
Quick Ratio	1.97	2.14	2.29	1.76	1.44	1.50	1.43	2.23	2.39	1.28	1.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	95	166	186	16	161	111	111	271	-538	-1,662	-1,664
Operating Cash Flow to CapEx	5,771.10%	1,671.13%	978.37%	581.00%	1,166.38%	2,164.81%	1,160.64%	1,735.88%	1,390.65%	1,031.70%	1,181.45%
Free Cash Flow to Firm to Interest Expense	5.02	8.66	9.88	0.86	8.75	6.45	6.70	13.17	-18.93	-43.50	-45.44
Operating Cash Flow to Interest Expense	10.76	13.60	9.51	4.87	13.05	15.41	9.19	9.43	8.21	4.63	4.39
Operating Cash Flow Less CapEx to Interest Expense	10.58	12.79	8.54	4.03	11.93	14.70	8.40	8.88	7.62	4.18	4.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.09	1.06	1.04	1.08	1.10	1.08	1.07	1.04	0.95	0.95	0.99
Accounts Receivable Turnover	6.13	6.35	6.26	6.12	6.24	6.87	6.70	6.47	6.15	6.57	6.70
Inventory Turnover	8.91	8.94	9.00	9.33	9.82	9.61	9.46	9.39	9.46	8.42	8.69
Fixed Asset Turnover	0.00	0.00	19.78	0.00	0.00	0.00	20.09	0.00	0.00	0.00	20.58
Accounts Payable Turnover	7.42	7.51	7.81	7.82	8.02	8.00	8.30	8.32	7.95	8.57	8.96
Days Sales Outstanding (DSO)	59.50	57.44	58.28	59.63	58.45	53.10	54.50	56.41	59.33	55.54	54.51
Days Inventory Outstanding (DIO)	40.95	40.83	40.56	39.12	37.17	38.00	38.58	38.89	38.58	43.33	41.99
Days Payable Outstanding (DPO)	49.18	48.62	46.74	46.70	45.50	45.62	43.99	43.85	45.89	42.61	40.75
Cash Conversion Cycle (CCC)	51.26	49.65	52.10	52.05	50.12	45.48	49.09	51.45	52.01	56.26	55.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,224	3,135	3,152	3,292	3,244	3,185	3,173	3,185	3,942	4,978	4,968
Invested Capital Turnover	1.63	1.65	1.65	1.63	1.64	1.69	1.67	1.61	1.46	1.33	1.38
Increase / (Decrease) in Invested Capital	83	-12	-28	140	20	50	21	-107	699	1,793	1,795
Enterprise Value (EV)	8,806	12,463	14,445	13,193	13,401	10,161	9,970	10,295	12,717	14,373	12,449
Market Capitalization	7,990	11,892	14,005	12,258	12,272	9,185	8,913	9,255	10,998	11,711	9,885
Book Value per Share	$75.82	$80.68	$85.35	$74.09	$70.09	$72.44	$72.40	$75.00	$79.01	$82.51	$85.44
Tangible Book Value per Share	($7.52)	($2.20)	$2.56	($9.95)	($18.02)	($15.09)	($18.37)	($17.95)	($44.69)	($74.12)	($70.78)
Total Capital	3,840	3,984	4,121	3,755	3,501	3,586	3,481	4,027	5,084	5,163	5,237
Total Debt	1,432	1,420	1,409	1,398	1,387	1,376	1,365	1,883	2,861	2,847	2,832
Total Long-Term Debt	1,384	1,373	1,362	1,352	1,341	1,327	1,313	1,833	2,799	2,784	2,770
Net Debt	816	572	440	934	1,129	976	1,057	1,041	1,719	2,662	2,564
Capital Expenditures (CapEx)	3.51	16	18	16	21	12	13	11	17	17	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	561	476	496	591	553	480	499	511	524	668	671
Debt-free Net Working Capital (DFNWC)	1,176	1,325	1,464	1,054	810	881	808	1,354	1,667	852	940
Net Working Capital (NWC)	1,128	1,278	1,418	1,008	765	832	756	1,304	1,604	790	877
Net Nonoperating Expense (NNE)	9.56	7.88	5.53	5.35	12	11	8.56	12	18	26	26
Net Nonoperating Obligations (NNO)	816	572	440	934	1,129	976	1,057	1,041	1,719	2,662	2,564
Total Depreciation and Amortization (D&A)	34	35	35	36	36	36	37	37	43	57	58
Debt-free, Cash-free Net Working Capital to Revenue	10.84%	9.17%	9.51%	11.23%	10.42%	9.01%	9.45%	9.80%	10.01%	12.34%	11.93%
Debt-free Net Working Capital to Revenue	22.74%	25.50%	28.12%	20.05%	15.28%	16.52%	15.30%	25.95%	31.83%	15.76%	16.71%
Net Working Capital to Revenue	21.81%	24.60%	27.23%	19.18%	14.42%	15.61%	14.30%	25.00%	30.64%	14.60%	15.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.30	$4.63	$4.82	$4.81	$5.68	$5.10	$4.25	$5.34	$5.08	$3.74	$3.75
Adjusted Weighted Average Basic Shares Outstanding	31.62M	31.60M	31.64M	31.32M	29.75M	30.50M	29.03M	28.37M	28.02M	28.33M	27.98M
Adjusted Diluted Earnings per Share	$5.27	$4.60	$4.79	$4.78	$5.65	$5.07	$4.23	$5.32	$5.04	$3.69	$3.73
Adjusted Weighted Average Diluted Shares Outstanding	31.79M	31.78M	31.84M	31.52M	29.93M	30.68M	29.17M	28.52M	28.20M	28.54M	28.13M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	31.77M	31.78M	31.82M	30.17M	29.50M	29.23M	28.59M	28.14M	28.07M	28.14M	28.14M
Normalized Net Operating Profit after Tax (NOPAT)	177	154	158	156	181	161	132	164	161	131	131
Normalized NOPAT Margin	13.36%	11.99%	12.35%	11.43%	13.17%	12.31%	10.70%	12.61%	11.52%	8.81%	9.08%
Pre Tax Income Margin	16.94%	15.11%	16.19%	14.88%	16.60%	15.45%	13.46%	15.69%	13.67%	9.66%	9.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.93	11.13	12.01	11.94	13.35	12.73	11.00	10.91	7.70	4.76	4.82
NOPAT to Interest Expense	9.41	8.04	8.40	8.41	9.81	9.34	7.95	7.97	5.65	3.42	3.58
EBIT Less CapEx to Interest Expense	12.75	10.32	11.04	11.10	12.23	12.02	10.21	10.37	7.11	4.31	4.44
NOPAT Less CapEx to Interest Expense	9.22	7.23	7.43	7.57	8.69	8.63	7.16	7.42	5.06	2.98	3.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	8.17%	0.00%	0.00%	81.88%	148.63%	155.21%	199.12%	136.71%	81.78%	83.21%	43.43%

Financials Breakdown Chart

Key Financial Trends

Below are the top takeaways for TopBuild Corp (BLD) based on quarterly financial data from 2022 through 2025. Items are grouped with positive implications first, followed by neutral observations, and then potential negatives.

Revenue has trended higher over the period, rising from about $1.264B in Q4 2022 to about $1.485B in Q4 2025.
Operating cash flow remains robust across 2025 quarters, with Q1 2025 ≈ $152.6M, Q3 2025 ≈ $233.3M, and Q4 2025 ≈ $176.7M from continuing operations.
Liquidity appears solid in mid-2025: in Q3 2025 total current assets were about $2.447B versus total current liabilities of about $0.843B, roughly a 2.9x current ratio.
In Q4 2025, free cash flow before acquisitions was roughly $159M (OCF ≈ $176.7M minus capex ≈ $17.4M), indicating meaningful internal cash generation even with growth investments.
Growth investments are visible: sizable acquisitions in 2024–2025 (e.g., $~1.08B in Q4 2025 and $~0.83B in Q3 2025) funded by a mix of cash flow and debt, signaling an active growth strategy.
Slight overhead pressure in 2025 is noted as SG&A as a percentage of revenue rose modestly, despite revenue gains.
Net income has been volatile by quarter; while annual and quarterly earnings have generally trended around the low hundreds of millions earlier, Q4 2025 net income fell to about $104.5M, reflecting a larger interest expense and other income/expense effects.
Leverage has increased notably: long-term debt rose to about $2.80B by Q3 2025, up from roughly $1.83B earlier in the year, increasing interest obligations going forward.
Gross margin has compressed, with Q4 2025 gross profit of $404.6M on $1.485B revenue (about 27.2%), versus margins closer to 31% in 2022, signaling cost/mix pressures.
Investing cash outflows were large in Q4 2025 due to acquisitions (net cash used in investing ≈ $1.10B), contributing to a substantial quarterly cash drop (net change in cash ≈ −$957.7M).

05/25/26 01:58 AM ETAI Generated. May Contain Errors.

TopBuild Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TopBuild's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

TopBuild's net income appears to be on an upward trend, with a most recent value of $521.73 million in 2025, rising from $78.97 million in 2015. The previous period was $622.60 million in 2024. View TopBuild's forecast to see where analysts expect TopBuild to go next.

TopBuild's total operating income in 2025 was $791.93 million, based on the following breakdown:

Total Gross Profit: $1.57 billion
Total Operating Expenses: $777.06 million

Over the last 10 years, TopBuild's total revenue changed from $1.62 billion in 2015 to $5.41 billion in 2025, a change of 234.6%.

TopBuild's total liabilities were at $4.29 billion at the end of 2025, a 69.8% increase from 2024, and a 490.4% increase since 2015.

In the past 10 years, TopBuild's cash and equivalents has ranged from $56.52 million in 2017 to $848.57 million in 2023, and is currently $184.74 million as of their latest financial filing in 2025.

Over the last 10 years, TopBuild's book value per share changed from 24.30 in 2015 to 82.51 in 2025, a change of 239.5%.

Related Companies

Financial statements for NYSE:BLD last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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TopBuild (BLD) Financials

Financials Breakdown Chart

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TopBuild Financials - Frequently Asked Questions

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TopBuild (BLD) Financials

Annual Income Statements for TopBuild

Quarterly Income Statements for TopBuild

Annual Cash Flow Statements for TopBuild

Quarterly Cash Flow Statements for TopBuild

Annual Balance Sheets for TopBuild

Quarterly Balance Sheets for TopBuild

Annual Metrics And Ratios for TopBuild

Quarterly Metrics And Ratios for TopBuild

Financials Breakdown Chart

Key Financial Trends

TopBuild Financials - Frequently Asked Questions

When does TopBuild's fiscal year end?

How has TopBuild's net income changed over the last 10 years?

What is TopBuild's operating income?

How has TopBuild's revenue changed over the last 10 years?

How much debt does TopBuild have?

How much cash does TopBuild have?

How has TopBuild's book value per share changed over the last 10 years?

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