Stock Analysis on Net
Stock Analysis on Net

Builders FirstSource Inc. (NYSE:BLDR)

$22.49

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

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Builders FirstSource Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (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
Checks outstanding
Accounts payable
Accrued liabilities
Contract liabilities
Current portion of operating lease liabilities
Current maturities of long-term debt
Current liabilities
Noncurrent portion of operating lease liabilities
Long-term debt, net of current maturities, discounts and issuance costs
Deferred income taxes
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.01 par value; zero shares issued and outstanding
Common stock, $0.01 par value
Additional paid-in capital
Accumulated other comprehensive income
Retained earnings (accumulated deficit)
Stockholders’ equity
Total liabilities and stockholders’ equity

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).

Liabilities Overview
Total liabilities as a percentage of total liabilities and stockholders’ equity exhibited a declining trend from 87.11% in March 2018 down to a low of 46.86% in March 2021, before rising again to reach a range of approximately 53% to 59% from 2022 through mid-2023. This indicates a significant reduction in liabilities relative to the overall capital structure until early 2021, followed by a moderate increase thereafter.
Current Liabilities
Current liabilities showed moderate fluctuation but generally decreased from about 25% in mid-2018 to around 18% by late 2023. Peaks were observed in late 2020 near 27%, but the trend from 2021 onward was predominantly downward, suggesting improved management or reduction of short-term obligations over the recent periods.
Long-term Debt
The long-term debt component declined markedly from 62.01% in March 2018 to a low of approximately 17.68% in March 2021. From there, it increased steadily, reaching approximately 31.62% by September 2023. This pattern reflects a significant deleveraging process through early 2021, followed by gradual re-leverage or new debt issuance in subsequent quarters.
Operating Lease Liabilities
The current portion of operating lease liabilities decreased from 1.88% in early 2019 to around 0.91% by late 2023. Similarly, the noncurrent portion declined sharply from about 7.29% in December 2019 to approximately 3.88% in September 2023. This suggests a substantial reduction in lease-related liabilities over the examined period.
Deferred Income Taxes
Deferred income taxes were negligible through mid-2019, then increased sharply to 4.16% by March 2021, followed by a gradual decline to around 1.83% by September 2023. The spike in early 2021 may reflect recognition of deferred tax assets or liabilities related to changes in operations or tax positions.
Accounts Payable and Accrued Liabilities
Accounts payable demonstrated a decreasing trend overall, falling from 15.7% in early 2018 to 7.58% in December 2022, with a slight rebound around 9.61% in late 2023. Accrued liabilities fluctuated but trended downward from a peak near 9.98% in late 2018 to lower levels around 5.59%-6.63% in recent periods, indicating tighter control or reduced operational expenditures.
Retained Earnings
Retained earnings improved from a negative position of -4.73% in March 2018 to a positive peak of 13.47% by December 2020, before declining to lower positive territory (around 0.85%-3%) in mid-2023. This reflects cumulative profitability gains up to 2020 with some erosion or dividends paid in the subsequent period.
Stockholders’ Equity
Stockholders’ equity showed a strong upward trend from 12.89% in March 2018 to a peak exceeding 53% in March 2021, coinciding with the trough in liabilities. Post-2021, equity declined moderately to approximately 40%-45% through 2023, indicating adjustments in capital structure possibly due to changes in retained earnings or capital transactions.
Additional Paid-in Capital
Additional paid-in capital rose significantly from about 17.58% in early 2018 to over 45% in March 2021, then declined slightly and stabilized around 39%-40% throughout 2022 and 2023. This suggests capital injections or equity issuances peaking in early 2021, contributing to increases in equity.
Overall Capital Structure Dynamics
The data show a distinct deleveraging phase culminating in early 2021, characterized by reduced total liabilities and increased equity components. Subsequently, there is a partial reversal with liabilities rising moderately and equity declining somewhat, indicating active capital management. Lease liabilities exhibit a consistent decline, while long-term debt reduction was followed by gradual re-accumulation. Operational liabilities such as accounts payable and accrued liabilities decreased, aligning with a possible tightening of working capital requirements. The fluctuation in retained earnings and additional paid-in capital underscores the influence of profitability and equity financing activities over time.