Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Builders FirstSource Inc. (NYSE:BLDR)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Common-Size Balance Sheet: Assets
Quarterly Data

Builders FirstSource Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Cash and cash equivalents 0.82 0.83 1.38 0.76 0.74 1.38 2.34 0.40 2.08 0.85 0.20 10.15 8.49 10.24 4.60 0.43 1.31 0.32 0.37 0.35 1.08 0.40 0.32
Accounts receivable, less allowances 15.07 15.08 13.65 13.67 16.68 19.92 19.01 15.95 19.75 20.47 18.65 21.08 21.44 19.12 19.72 18.92 21.87 22.01 20.28 22.31 25.22 24.69 22.85
Other receivables 2.30 2.29 1.38 2.22 2.33 1.89 1.85 2.38 1.55 1.29 1.03 1.83 1.61 1.20 1.53 2.38 1.50 1.67 1.59 2.34 1.86 2.15 1.95
Inventories, net 12.40 12.69 12.75 13.46 15.24 17.09 18.16 15.18 14.96 19.52 16.91 18.80 18.71 16.34 17.97 17.27 17.63 19.00 19.86 20.36 21.28 23.56 21.83
Contract assets 1.75 1.78 1.68 1.73 2.08 2.24 2.00 1.94 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other current assets 0.94 0.92 1.11 1.17 1.23 1.15 1.29 1.19 0.82 4.13 1.27 1.41 1.10 0.96 1.24 1.20 1.05 1.11 1.21 1.50 1.11 1.18 1.38
Current assets 33.29% 33.59% 31.95% 33.01% 38.31% 43.67% 44.64% 37.04% 39.14% 46.25% 38.07% 53.28% 51.35% 47.86% 45.06% 40.22% 43.37% 44.12% 43.31% 46.85% 50.54% 51.97% 48.34%
Property, plant and equipment, net 16.42 15.62 15.32 14.80 12.93 11.76 11.50 12.93 12.37 12.24 13.84 17.95 18.70 19.75 20.52 22.22 21.11 20.78 20.91 22.85 20.85 19.73 20.70
Operating lease right-of-use assets, net 4.56 4.51 4.63 4.58 4.33 4.00 3.71 4.27 4.11 4.05 4.72 6.58 6.93 7.61 8.03 9.01 8.70 8.43 8.43 0.00 0.00 0.00 0.00
Goodwill 32.80 32.61 33.36 32.63 29.93 27.60 27.14 30.52 29.06 23.86 27.05 18.82 19.36 20.65 21.83 23.67 22.89 22.78 23.14 25.25 23.18 22.28 23.81
Intangible assets, net 12.56 13.16 14.25 14.64 14.19 12.69 12.76 14.97 15.07 13.39 16.01 2.87 3.02 3.36 3.71 3.95 3.07 2.94 3.10 3.52 3.48 3.59 4.06
Deferred income taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.15 0.20 0.24 0.26 0.15 0.23 0.41 0.78 1.21 1.68 2.35
Other assets, net 0.37 0.52 0.49 0.34 0.31 0.28 0.25 0.27 0.24 0.21 0.32 0.39 0.49 0.58 0.62 0.68 0.71 0.72 0.69 0.76 0.73 0.75 0.74
Noncurrent assets 66.71% 66.41% 68.05% 66.99% 61.69% 56.33% 55.36% 62.96% 60.86% 53.75% 61.93% 46.72% 48.65% 52.14% 54.94% 59.78% 56.63% 55.88% 56.69% 53.15% 49.46% 48.03% 51.66%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The asset composition reveals a structural shift from current assets toward noncurrent assets over the analyzed period. Total current assets, which initially fluctuated between 46% and 52% of total assets in 2018, experienced a steady decline to approximately 33% by the third quarter of 2023. Conversely, noncurrent assets grew from roughly 51% in early 2018 to nearly 67% by late 2023, indicating a fundamental change in the company's balance sheet weighting.

Working Capital Efficiency
A consistent downward trend is observed in the proportions of accounts receivable and inventories. Accounts receivable decreased from a peak of 25.22% in September 2018 to approximately 15.07% by September 2023. Similarly, inventories, net, declined from levels exceeding 23% in 2018 to 12.40% by the end of the period. This suggests an improvement in asset turnover or a strategic reduction in the relative scale of working capital requirements.
Intangible Asset Expansion
There is a significant increase in the weight of goodwill and intangible assets, particularly starting in 2021. Goodwill rose from a range of 22% to 25% in 2018-2019 to a peak of 33.36% in March 2023. Intangible assets exhibited a sharp increase in March 2021, jumping from 2.87% in December 2020 to 16.01%, subsequently stabilizing between 12% and 14%. This pattern is characteristic of an aggressive acquisition strategy.
Liquidity Volatility
Cash and cash equivalents remained minimal, generally under 1.5% of total assets, with one notable exception during 2020. A liquidity surge occurred between March and December 2020, with cash peaking at 10.24% in June 2020 before returning to sub-1% levels by 2021. This represents a temporary liquidity cushioning phase followed by a return to lean cash management.
Fixed and Long-term Asset Trends
Property, plant and equipment, net, showed a gradual decline from approximately 20-22% of total assets in 2018 to 16.42% by September 2023. Operating lease right-of-use assets were introduced into the reporting in 2019 at approximately 8.43% and trended downward to approximately 4.56% by the end of the period. Additionally, contract assets emerged as a new component in late 2021, maintaining a stable presence between 1.68% and 2.24% of total assets.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?