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Builders FirstSource cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$73.9M in Q3 2026 · $251M over twelve months

Operating cash flow$147M
Capital spending−$72.6M
Free cash flow+$73.9M
Cash / net income2.4×
Cash conversion cycle41 days

Analysis

In Q3 2026, Builders FirstSource generated $147M of operating cash flow and spent $72.6M on capital projects, leaving free cash flow of $73.9M. That is $388M less than in Q3 2025 ($462M).

Over the twelve months to Sep 30, 2026, operating cash flow was $497M; the largest uses were acquisitions ($335M), buybacks ($304M), capital spending ($246M); besides operations, cash came from net borrowing (+) / repaid (−) ($187M), asset & business sales ($8.6M); the cash balance fell by $241M.

Operating cash flow was $147M against net income of $60.4M — 2.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$149M, payables −$140M, deferred taxes −$59.3M.

Its cash conversion cycle was 41 days (receivables 31 + inventory 42 − payables 32).

Free cash flow

Builders FirstSource: free cash flow by quarterBuilders FirstSource: free cash flow by quarter$274MQ4 2024$32.4MQ1 2025$252MQ2 2025$462MQ3 2025$107MQ4 2025$40.7MQ1 2026$30.0MQ2 2026$73.9MQ3 2026
Operating cash flow less capital spending.
Builders FirstSource: operating cash flow against capital spendingBuilders FirstSource: operating cash flow against capital spendingOperating cash flowCapital spending$373M$99.7MQ4 2024$132M$100MQ1 2025$341M$88.7MQ2 2025$548M$85.8MQ3 2025$195M$88.1MQ4 2025$87.5M$46.7MQ1 2026$68.0M$38.0MQ2 2026$147M$72.6MQ3 2026
Latest (Q3 2026): Operating cash flow $147M, Capital spending $72.6M.

Capital allocation, year by year

Builders FirstSource: where the cash came from (up) and went (down), by fiscal yearBuilders FirstSource: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $1.7BFY2021: Net borrowing $956MFY2021: Shares issued $726KFY2021: Asset sales $89.7MFY2021: Capital spending −$228MFY2021: Acquisitions −$1.2BFY2021: Buybacks −$1.7B$2.8BFY2021FY2022: Operating cash flow $3.6BFY2022: Net borrowing $59.4MFY2022: Shares issued $589KFY2022: Asset sales $10.7MFY2022: Capital spending −$340MFY2022: Acquisitions −$628MFY2022: Buybacks −$2.6B$3.7BFY2022FY2023: Operating cash flow $2.3BFY2023: Net borrowing $194MFY2023: Shares issued $659KFY2023: Asset sales $46.7MFY2023: Capital spending −$476MFY2023: Acquisitions −$239MFY2023: Buybacks −$1.8B$2.5BFY2023FY2024: Operating cash flow $1.9BFY2024: Net borrowing $531MFY2024: Asset sales $14.0MFY2024: Capital spending −$381MFY2024: Acquisitions −$336MFY2024: Buybacks −$1.5B$2.4BFY2024FY2025: Operating cash flow $1.2BFY2025: Net borrowing $747MFY2025: Asset sales $20.8MFY2025: Capital spending −$363MFY2025: Acquisitions −$1.1BFY2025: Buybacks −$414M$2.0BFY2025
Over these 5 years operating cash flow totalled $10.7B; the largest uses were buybacks ($8.1B) and acquisitions ($3.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$55.0M
Debt$4.6B
Net debt$4.6B
Due within a year$4.1M

Builders FirstSource funds itself: free cash flow was $251M over the last twelve months, and $55.0M of cash and investments stands against $4.6B of debt ($4.1M due within a year, 13.4× covered by cash).

Where the cash came from and went

Builders FirstSource: sources (+) and uses (−) of cash, Q3 2026Builders FirstSource: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$147MAcquisitions−$90.8MCapital spending−$72.6MNet borrowing (+) / repaid (−)$31.3MOther investing−$26.9MCash drawn (+) / kept (−)$10.6MAsset & business sales$2.0MTaxes on employees’ shares−$219K
Builders FirstSource: sources (+) and uses (−) of cash, TTM to Q3 2026Builders FirstSource: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$497MAcquisitions−$335MBuybacks−$304MCapital spending−$246MCash drawn (+) / kept (−)$241MNet borrowing (+) / repaid (−)$187MOther investing−$28.2MTaxes on employees’ shares−$16.1MAsset & business sales$8.6MOther financing−$5.2M

From profit to cash

Builders FirstSource: net income to operating cash flow, Q3 2026Builders FirstSource: net income to operating cash flow, Q3 2026Net income$60.4MDepreciation & amortization$149MStock-based pay$15.6MDeferred taxes−$59.3MOther non-cash$3.7MReceivables$6.7MInventory$48.7MPayables−$140MAccrued liabilities$50.9MDeferred revenue$6.4MContract assets−$1.9MPrepaid and other assets−$3.3MOther operating capital$10.0MOperating cash flow$147M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202631423241
Q2 202629403237
Q1 202630443143
Q4 202532443343
Q3 202530423339
Q2 202528413137
Q1 202530453342
Q4 202430433440

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$147M−$72.6M−$90.8M—$31.3M$10.6M$73.9M
Q2 2026$68.0M−$38.0M−$13.5M−$3.5M−$42.5M$32.7M$30.0M
Q1 2026$87.5M−$46.7M−$12.4M−$300M$199M$83.4M$40.7M
Q4 2025$195M−$88.1M−$219M—−$696K$114M$107M
Q3 2025$548M−$85.8M−$19.0M−$1K−$234M−$209M$462M
Q2 2025$341M−$88.7M−$60.7M−$402M−$543M$28.4M$252M
Q1 2025$132M−$100M−$825M−$12.3M$774M$38.3M$32.4M
Q4 2024$373M−$99.7M−$79.6M−$364M−$784K$174M$274M

Builders FirstSource: income statement and cash flow

Builders FirstSource, Q3 2026: revenue $3.9B (-2% year over year), operating margin 2.6%. The chart follows the revenue to costs, profit and cash.

Builders FirstSource: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.