Debt to Equity
since 2005
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Builders FirstSource Inc. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Analysis of Revenues
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Calculation
Builders FirstSource Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, including current maturities1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ | |||
| Dec 31, 2018 | = | ÷ | |||
| Dec 31, 2017 | = | ÷ | |||
| Dec 31, 2016 | = | ÷ | |||
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
- Long-term debt, including current maturities
- The long-term debt exhibited significant fluctuations over the observed period. Starting at around $315 million in 2005, it remained relatively stable through 2008 with minor variations, peaking near $319 million. A notable increase occurred in 2015, where debt sharply rose to over $1.95 billion, maintaining a high level through 2017 before gradually declining to under $1.56 billion by 2018 and further to approximately $1.29 billion in 2019. Subsequently, the debt rose again, reaching a peak of nearly $2.93 billion in 2021 and slightly increasing to roughly $2.98 billion in 2022. This pattern indicates periods of substantial leveraging especially after 2014, followed by some reduction, and then renewed increases more recently.
- Stockholders’ equity
- Stockholders’ equity showed considerable volatility and marked growth during the timeframe. Initially valued at about $171 million in 2005, it climbed to over $256 million by 2006, then declined significantly to under $15 million by 2013. Post-2013, equity rebounded strongly, increasing to over $149 million in 2015, and demonstrating steady upward momentum through 2018, culminating at approximately $596 million. The growth trend intensified further after 2018, reaching over $4.8 billion in 2021 and stabilizing around $4.96 billion in 2022. This upward trajectory in the latter years points to considerable expansion in the company’s net asset base.
- Debt to equity ratio
- The debt to equity ratio experienced sharp swings, reflecting the changing dynamics between leverage and shareholder funds. Starting at a high 1.84 in 2005, the ratio declined steadily to around 1.06 in 2010, indicating improved equity relative to debt. However, significant spikes occurred in the early 2010s, peaking at 23.03 in 2013, which suggests an extremely high level of debt relative to equity at that time. Subsequent years saw this ratio trend downward to 1.41 by 2020, and further decrease to about 0.60 by 2022, implying a substantial strengthening of equity relative to debt in recent periods. The data suggest cycles of heavy leveraging followed by phases of deleveraging and equity growth.
Comparison to Competitors
Builders FirstSource Inc., debt to equity, long-term trends, comparison to competitors
| Builders FirstSource Inc. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
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Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Builders FirstSource Inc., debt to equity, long-term trends, comparison to sector (capital goods)
| Builders FirstSource Inc. | Capital Goods | |
|---|---|---|
| Dec 31, 2022 | ||
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Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Builders FirstSource Inc., debt to equity, long-term trends, comparison to industry (industrials)
| Builders FirstSource Inc. | Industrials | |
|---|---|---|
| Dec 31, 2022 | ||
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Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).