TopBuild Corp. (BLD) Aandelenanalyse

Bedrijfsoverzicht

TopBuild Corp. is primarily engaged in the installation and distribution of insulation materials alongside other essential building products specifically tailored for the construction industry. The company operates within the Industrials sector and focuses on the Engineering & Construction industry, providing critical thermal and acoustic solutions through its two main segments: Installation and Specialty Distribution. Its current market capitalization stands at $11.10B, while the company generated total revenue of $5.41B over the trailing twelve months, employing a workforce of 14,707 individuals. These financial figures indicate that TopBuild Corp. represents a substantial entity within the building materials landscape, reflecting significant scale in terms of both market valuation and operational capacity.

Financiële gezondheid

Over the trailing twelve months, the company reported revenue of $5.41B, with net income reaching $521.73M and EBITDA totaling $1.02B. The substantial gap between the $5.41B in revenue and the $521.73M in net income reveals a cost structure where operating expenses, including cost of goods sold and administrative costs, absorb approximately 90.4% of gross revenue before reaching the bottom line. The company generated free cash flow of $384.63M, which provides a clear indicator of its financial flexibility to fund operations, manage capital expenditures, or pursue strategic acquisitions without immediate reliance on external financing. Profitability is analyzed through three key margins: a gross margin of 29.4%, an operating margin of 13.8%, and a profit margin of 9.6%, each reflecting efficiency at different stages of the value chain from production to final net earnings. Liquidity and leverage are assessed by comparing total cash of $184.74M against total debt of $3.15B, resulting in a debt-to-equity ratio of 136.05%, which suggests a highly leveraged balance sheet typical for capital-intensive construction supply chains. Short-term liquidity is supported by a current ratio of 1.94, indicating that the company holds sufficient current assets to cover its short-term liabilities nearly twice over. Management effectiveness is highlighted by a return on equity of 23.1% and a return on assets of 9.3%, demonstrating the ability to generate significant returns relative to the shareholders' equity and the total asset base employed.

Waarderingsbeoordeling

The valuation of TopBuild Corp. is currently characterized by a trailing P/E ratio of 21.55 and a forward P/E of 18.61. The difference between the trailing and forward P/E ratios implies that the market expects earnings to decrease or that current earnings are temporarily inflated relative to future expectations. The price-to-book ratio stands at 4.75, indicating that the market values the company at a significant premium of nearly five times its book value, reflecting high growth expectations or intangible assets not captured on the balance sheet. Alternative valuation metrics such as a price-to-sales ratio of 2.05 and an EV/EBITDA of 13.78 provide further context, suggesting the company is valued at more than double its sales and at a premium multiple relative to its earnings before interest, taxes, depreciation, and amortization. Historical price volatility is framed by a 52-week high of $559.47 and a 52-week low of $273.87, placing the current trading price within a range that reflects significant recent price discovery and potential mean reversion dynamics. The beta of 1.79 indicates that the stock exhibits high price volatility, moving with substantially greater intensity than the broader market, which is common for smaller-cap industrials or those sensitive to specific sector cycles.

Growth & Income

Revenue growth for the company was 13.2% year-over-year, whereas earnings growth declined by 27.1% year-over-year. This divergence implies that while top-line sales are expanding rapidly, operating leverage is currently being compressed, likely due to rising input costs or margin contraction that prevents net income from keeping pace with revenue expansion. As a non-dividend payer, the company does not distribute cash to shareholders, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, meaning all available earnings are retained within the business to fuel reinvestment into growth initiatives rather than providing income distributions. The overall growth and income profile is defined by strong revenue expansion in the insulation and building materials sector, coupled with a disciplined retention of earnings to support future operational scaling rather than immediate income generation for investors.