Builders FirstSource, Inc.

BLDR · Consumer Discretionary · $8.2B mkt cap · FY2025 filings · Narrow moat

Wonderful & reasonably priced

Narrow moat

The four filters

Pricing power39

Median gross margin 28.3% over 10y, stable.

Returns on capital79

Median ROIC 16.8%, above the 9% hurdle in 80% of years.

Balance-sheet safety57

Net debt/EBITDA 3.1x, no material interest expense disclosed.

Capital discipline82

Owner earnings +13.6%/yr, share count flat.

Margin of safety

Above valueOn sale

54% below value

Owner earnings (normalized): $1.6B
Est. intrinsic value / share: $163.02
Recent price: $74.34
Discount to value: 54% below value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell BLDR. See the disclaimer.