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olivLaw · US equity research

BlueLinx Holdings Inc. BXC

Wholesale-Lumber, Plywood, Millwork & Wood Panels · SIC 5031 · Vertical: Wholesale — durable goods (SIC 503x)

74.49USD+2.66% · 1 dayClose 04 Nov 2026

BlueLinx is a U.S. wholesale distributor of residential and commercial building products that buys from manufacturers and delivers to dealers and builders in local markets. Net sales in fiscal 2025 were about 2.954 billion USD, and in the second quarter of 2026 sales grew 4.4%, in a context of weak housing demand but a growing focus on higher-margin specialty products.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, BlueLinx Holdings Inc. (BXC) stock was 74.49 USD (+2.66% on the day), with market capitalisation 585.8 m USD, dividend yield 0.17%, beta 1.40, 52-week range 45.34–91.41 USD. Latest reported quarter (Q3 2027): revenue of 812.6 m USD (+8.5% YoY), net income of -625.0 k USD (−137.8% YoY), diluted EPS -0.07 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
585.8 m USD
shares as of 30 Oct 2026
P/E (TTM)
unavailable
Diluted EPS TTM -0.52 · TTM to 03 Oct 2026
E/P (TTM)
-0.70%
TTM to 03 Oct 2026
Dividend yield
0.17%
DPS 12m 0.13
Beta (2y)
1.40
Volatility (1y) 66%
52-week range
45.3491.41

Price history

Loading chart…

Technical reading

RSI (14)
48.3
neutral
Bollinger (20, 2)
68.93 – 80.36
in the lower half of the band · %B 0.49 · band width 15.3%
SMA 50 / 200
76.03 / 64.79
mixed trend
MACD (12, 26, 9)
0.30 / 0.26
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−0.1%−1.1%+1.0 pp—
3 months+2.7%−0.5%+3.1 pp—
6 months+26.9%+4.4%+22.5 pp—
Year to date+21.3%+12.3%+8.9 pp—
1 year+16.8%+13.5%+3.2 pp+2.3%
3 years−7.1%+76.4%−83.6 pp−57.1%
5 years+7.4%+63.7%−56.3 pp—
Max drawdown (1y)
−42.6%
06 Feb 2026 → 20 Mar 2026
Max drawdown (5y)
−65.6%
25 Nov 2024 → 20 Mar 2026
Compound annual growth (5y)
+1.4%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2027 · 03 Oct 2026

Revenue
812.6 m USD
+8.5% YoY
Net income
-625.0 k USD
−137.8% YoY
Diluted EPS
-0.07
−135.0% YoY
net / operating
-0.1% / 1.5%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27Q3 '27
Revenue710.6 m709.2 m780.1 m748.9 m715.8 m731.1 m814.1 m812.6 m
Cost of revenue597.3 m598.1 m660.4 m640.7 m603.2 m614.8 m674.4 m681.7 m
Gross profit113.3 m111.1 m119.7 m108.2 m112.6 m116.4 m139.7 m131.0 m
SG&A92.6 m94.1 m95.3 m89.3 m102.5 m96.2 m107.4 m105.9 m
Operating income12.0 m10.7 m15.0 m10.0 m-3.2 m7.3 m20.6 m11.9 m
Depreciation & amortisation9.4 m9.6 m9.8 m9.7 m10.8 m12.0 m11.5 m11.7 m
Interest expense11.2 m12.1 m12.6 m12.5 m12.4 m12.2 m12.3 m12.4 m
Pre-tax income7.0 m4.1 m6.6 m1.4 m-12.0 m-1.8 m11.2 m2.3 m
Income tax1.7 m1.3 m2.3 m-292.0 k-3.4 m-361.0 k4.8 m3.0 m
Net income5.3 m2.8 m4.3 m1.7 m-8.6 m-1.5 m6.4 m-625.0 k
Diluted EPS0.63 ≈0.330.540.20-1.08 ≈-0.180.81-0.07
Operating cash flow18.7 m-33.9 m-26.8 m ≈58.6 m ≈61.8 m-57.2 m11.2 m ≈44.7 m ≈
Capex20.3 m5.9 m9.6 m ≈5.9 m ≈5.4 m2.6 m2.4 m ≈5.1 m ≈
Share repurchases15.3 m15.0 m20.4 m ≈2.7 m ≈02.8 m2.6 m ≈0 ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year2017201820192021⚠ 2022202320242026
Revenue1.8 bn2.9 bn2.6 bn3.1 bn4.5 bn3.1 bn3.0 bn3.0 bn
Revenue YoY−3.5%+57.7%−7.9%unavailable—−29.5%−5.9%unavailable
Net income63.0 m-17.7 m-17.7 m80.9 m296.2 m48.5 m53.1 m219.0 k
Net income YoY+291.6%−128.0%unavailableunavailable—−83.6%+9.4%unavailable
Diluted EPS6.81-5.21-1.898.5531.515.396.190.02
Diluted EPS YoY+284.7%−176.5%unavailableunavailable—−82.9%+14.8%unavailable
net %3.5%-0.6%-0.7%2.6%6.7%1.5%1.8%0.0%
Free cash flow-3.3 m38.8 m-15.1 m51.3 m364.4 m278.8 m45.1 m32.9 m

The series breaks before 2022: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2026 · 03 Jan 2026

Cash
385.8 m USD
Financial debt
296.7 m USD
Net debt
-89.2 m USD
Equity
617.3 m USD
Total assets
1.5 bn USD
Debt / equity
0.48x
Current ratio
4.66x
ROE
unavailable
ROA
0.0%
FCF margin
1.1%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
3.1 bn
2024
3.0 bn
2026
3.0 bn

SEC (XBRL)· 24 Feb 2026verified

Cost of revenue
2023
2.6 bn
2024
2.5 bn
2026
2.5 bn

SEC (XBRL)· 24 Feb 2026verified

Gross profit
2023
527.0 m
2024
489.1 m
2026
451.6 m

SEC (XBRL)· 24 Feb 2026verified

SG&A
2023
355.8 m
2024
365.5 m
2026
381.1 m

SEC (XBRL)· 24 Feb 2026verified

Operating income
2023
138.4 m
2024
87.6 m
2026
32.5 m

SEC (XBRL)· 24 Feb 2026verified

Depreciation & amortisation
2023
32.0 m
2024
38.5 m
2026
39.9 m

SEC (XBRL)· 24 Feb 2026verified

EBITDA
2023
170.5 m ≈
2024
126.1 m ≈
2026
72.4 m ≈

SEC (XBRL)· 24 Feb 2026derived

Interest expense
2023
23.7 m
2024
47.2 m
2026
49.7 m

SEC (XBRL)· 24 Feb 2026verified

Pre-tax income
2023
81.9 m
2024
70.7 m
2026
129.0 k

SEC (XBRL)· 24 Feb 2026verified

Income tax
2023
33.4 m
2024
17.6 m
2026
-90.0 k

SEC (XBRL)· 24 Feb 2026verified

Net income
2023
48.5 m
2024
53.1 m
2026
219.0 k

SEC (XBRL)· 24 Feb 2026verified

Diluted EPS
2023
5.39
2024
6.19
2026
0.02

SEC (XBRL)· 24 Feb 2026verified

Weighted average diluted shares
2023
9.0 m
2024
8.6 m
2026
8.0 m

SEC (XBRL)· 24 Feb 2026verified

Balance sheet · USD

Cash
2023
521.7 m
2024
505.6 m
2026
385.8 m

SEC (XBRL)· 24 Feb 2026verified

Inventories
2023
343.6 m
2024
355.9 m
2026
326.0 m

SEC (XBRL)· 24 Feb 2026verified

Current assets
2023
1.1 bn
2024
1.1 bn
2026
984.5 m

SEC (XBRL)· 24 Feb 2026verified

Goodwill
2023
55.4 m
2024
55.4 m
2026
67.2 m

SEC (XBRL)· 24 Feb 2026verified

Intangibles (excl. goodwill)
2023
30.8 m
2024
26.9 m
2026
86.7 m

SEC (XBRL)· 24 Feb 2026verified

Total assets
2023
1.5 bn
2024
1.6 bn
2026
1.5 bn

SEC (XBRL)· 24 Feb 2026verified

Accounts payable
2023
157.9 m
2024
170.2 m
2026
136.4 m

SEC (XBRL)· 24 Feb 2026verified

Short-term debt
2023
11.2 m
2024
12.5 m
2026
—

SEC (XBRL)· 18 Feb 2025verified

Long-term debt
2023
293.7 m
2024
295.1 m
2026
296.7 m

SEC (XBRL)· 24 Feb 2026verified

Current liabilities
2023
218.6 m
2024
233.7 m
2026
211.3 m

SEC (XBRL)· 24 Feb 2026verified

Total liabilities
2023
903.3 m
2024
931.3 m
2026
932.0 m

SEC (XBRL)· 24 Feb 2026verified

Equity
2023
634.3 m †
2024
646.4 m †
2026
617.3 m †

SEC (XBRL)· 24 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
306.3 m
2024
85.2 m
2026
59.8 m

SEC (XBRL)· 24 Feb 2026verified

Capex
2023
27.5 m
2024
40.1 m
2026
26.9 m

SEC (XBRL)· 24 Feb 2026verified

Free cash flow
2023
278.8 m ≈
2024
45.1 m ≈
2026
32.9 m ≈

SEC (XBRL)· 24 Feb 2026derived

Investing cash flow
2023
-26.9 m
2024
-39.2 m
2026
-119.5 m

SEC (XBRL)· 24 Feb 2026verified

Financing cash flow
2023
-56.6 m
2024
-62.1 m
2026
-60.1 m

SEC (XBRL)· 24 Feb 2026verified

Share repurchases
2023
42.1 m
2024
45.3 m
2026
38.1 m

SEC (XBRL)· 24 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
unavailable
input data missing
Revenue CAGR 3Y
-2.0%
computed by olivLawFY 2023 → FY 2026
Revenue CAGR 5Y
-0.9%
computed by olivLawFY 2021 → FY 2026
EBIT growth (YoY)
unavailable
input data missing
Net income growth (YoY)
unavailable
input data missing
Net income CAGR 3Y
-83.5%
computed by olivLawFY 2023 → FY 2026
Net income CAGR 5Y
-69.3%
computed by olivLawFY 2021 → FY 2026
EPS growth (YoY)
unavailable
input data missing
EPS CAGR 3Y
-84.5%
computed by olivLawFY 2023 → FY 2026
EPS CAGR 5Y
-70.2%
computed by olivLawFY 2021 → FY 2026
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
16.3%
computed by olivLawTTM to 03 Oct 2026
EBITDA margin
2.7%
computed by olivLawTTM to 03 Oct 2026
EBIT margin
1.2%
computed by olivLawTTM to 03 Oct 2026
Net margin
-0.1%
computed by olivLawTTM to 03 Oct 2026
FCF margin
1.5%
computed by olivLawTTM to 03 Oct 2026

Returns

ROE
-0.7%
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
ROA
-0.3%
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
ROIC
5.8%
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
ROCE
2.7%
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
-52.5 m USD
computed by olivLawbalance sheet at 03 Oct 2026
Net debt / EBITDA
-0.6x
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
Debt / equity
0.5x
computed by olivLawbalance sheet at 03 Oct 2026
Interest coverage
0.7x
computed by olivLawTTM to 03 Oct 2026

Liquidity

Current ratio
3.8x
computed by olivLawbalance sheet at 03 Oct 2026
Quick ratio
2.5x
computed by olivLawbalance sheet at 03 Oct 2026
Cash ratio
1.2x
computed by olivLawbalance sheet at 03 Oct 2026

Cash

Operating cash flow
60.5 m USD
computed by olivLawTTM to 03 Oct 2026
Capital expenditure
15.5 m USD
computed by olivLawTTM to 03 Oct 2026
Free cash flow
44.9 m USD
computed by olivLawTTM to 03 Oct 2026
FCF conversion
unavailable
insufficient data
Cash conversion
73.3%
computed by olivLawTTM to 03 Oct 2026

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
51 days
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
Days payables outstanding
26 days
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
585.8 m USD
computed by olivLawbalance sheet at 03 Oct 2026
Enterprise value
533.3 m USD
computed by olivLawbalance sheet at 03 Oct 2026
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-0.7%
computed by olivLawTTM to 03 Oct 2026
P/B
0.9x
computed by olivLawbalance sheet at 03 Oct 2026
P/S
0.2x
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
EV/EBITDA
6.5x
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
EV/EBIT
14.6x
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
EV/Sales
0.2x
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
P/FCF
13.0x
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
FCF yield
7.7%
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
Dividend yield
0.2%
computed by olivLawTTM to 03 Oct 2026
Shareholder yield (distributions)
0.9%
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Neutral profile

Score: 57 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

74.49 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 585.8 m USD

Key indicators

Market capitalisation
585.8 m USD
computed by olivLawbalance sheet at 03 Oct 2026
P/E (TTM)
unavailable
insufficient data
P/B
0.9x
computed by olivLawbalance sheet at 03 Oct 2026
EV/EBITDA
6.5x
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
ROE
-0.7%
computed by olivLawTTM to 03 Oct 2026 · balance sheet at 03 Oct 2026
Net margin
-0.1%
computed by olivLawTTM to 03 Oct 2026
Revenue growth (YoY)
unavailable
input data missing
Dividend yield
0.2%
computed by olivLawTTM to 03 Oct 2026

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2026
Latest reported period: 03 Oct 2026
Latest balance sheet date: 03 Oct 2026
Share count (cover of the latest filing), as of: 30 Oct 2026
Source: SEC (XBRL)published 03 Nov 2026
verified 2409derived 144

Score by group

  • Valuation86
  • Returns13
  • Quality81
  • Balance sheet70
  • Growth0

Estimated value range

Low
79.31
USD per share
Mid
98.72
USD per share
High
133.04
USD per share
Price: 74.49 USD
The price is below the range
Potential to the central value: 32.5% (value / price − 1)
Margin of safety: 24.5% (1 − price / value)
Agreement between methods: low · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.64 – 263.86 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)156.97 – 263.86 (Mid 195.55)
    WACC 7.9% · starting FCFF 86.4 m USD · terminal value share of EV 77%
    The WACC × g sensitivity gives the method's bounds; these are not probabilities.
    Reverse DCF: no growth between −30% and +40% justifies the price
  • Peers: EV/EBITDAunavailable · not enough peers
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)1.64 – 2.21 (Mid 1.88)
Multiple comparisons use the SIC vertical: Wholesale — durable goods (SIC 503x)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 57/100

FactorValueScoreWeight used
ROIC · Quality5.8%80 (vs peers)13%
Net margin · Quality-0.1%83 (vs peers)8%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth-2.0%0 (on a fixed band)11%
EPS CAGR 3Y · Growth-84.5%0 (on a fixed band)11%
Net debt / EBITDA · Balance sheet-0.6x100 (on a fixed band)13%
Interest coverage · Balance sheet0.7x0 (on a fixed band)8%
Current ratio · Balance sheet3.8x100 (on a fixed band)5%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuation6.5x78 (on a fixed band)13%
FCF yield · Valuation7.7%96 (on a fixed band)11%
Shareholder yield (distributions) · Returns0.9%13 (on a fixed band)8%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet70/100 · 3/3 factors with a value
  • Growth0/100 · 2/2 factors with a value
  • Quality81/100 · 2/3 factors with a value
  • Returns· partial13/100 · 1/2 factors with a value
  • Valuation86/100 · 2/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

BlueLinx Holdings Inc. (BXC). Latest full fiscal year: 2026; data up to 2026-10-03.

Figures computed from the financial statements: revenue 3.0 bn USD in 2026; net margin -0.1%; ROE -0.7%; net debt/EBITDA -0.6x.

The estimated value range is 79.31–133.04 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 98.72 USD, the price of 74.49 USD leaves a potential of 32.5% (value / price − 1) and a margin of safety of 24.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 57/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • ROIC: 5.8%
  • Net margin: -0.1%
  • Net debt / EBITDA: -0.6x
  • Current ratio: 3.8x
  • EV/EBITDA: 6.5x
  • FCF yield: 7.7%
  • The price is below the estimated value range

What contradicts it

  • Revenue CAGR 3Y: -2.0%
  • EPS CAGR 3Y: -84.5%
  • Interest coverage: 0.7x
  • Shareholder yield (distributions): 0.9%
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): FCF conversion, P/E (TTM), Payout ratio (FCF).

Versus the vertical median

Wholesale — durable goods (SIC 503x) · same industry group (3-digit SIC) · compared with 6 companies

Multiples and returns vs the median

P/E
—
vertical median —
EV/EBITDA
6.5x
vertical median —
P/S
0.2x
vertical median 0.7x
below median (−73.0%)
P/B
0.9x
vertical median 1.3x
below median (−29.0%)
ROE
-0.7%
vertical median -27.6%
above median
Net margin
-0.1%
vertical median -21.0%
above median
EBIT margin
1.2%
vertical median -11.4%
above median
Revenue YoY
—
vertical median -4.8%
Net debt/EBITDA
-0.6x
vertical median —
Dividend yield
0.2%
vertical median —

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
QXOQxo, Inc.13.1 bn—-2.8%-4.1%+11,925.0%−32% / −57%
BCCBoise Cascade Company2.7 bn22.95.7%1.8%−4.8%+2% / −29%
BXCBlueLinx Holdings Inc.585.8 m—-0.7%-0.1%unavailable+17% / −7%
ASPNAspen Aerogels, Inc.398.3 m—-50.4%-62.4%−40.1%+49% / −54%
CAPSCapstone Holding Corp.42.6 m—-114.2%-36.7%+4.5%+127% / −87%
OLOXOlenox Industries Inc.1.2 m—-89.9%-427.9%−40.7%−98% / −100%
SMJFSMJ International Holdings Inc.——-4.9%-5.3%unavailableunavailable / unavailable

1- and 3-year price returns: for BXC from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).

    In brief

    BlueLinx is a U.S. wholesale distributor of residential and commercial building products that buys from manufacturers and delivers to dealers and builders in local markets. Net sales in fiscal 2025 were about 2.954 billion USD 1, and in the second quarter of 2026 sales grew 4.4% 3, in a context of weak housing demand but a growing focus on higher-margin specialty products.

    SWOT

    Strengths

    • A national branch network and scale covering all states in the U.S. 1.
    • Solid liquidity and low net leverage, giving financial flexibility 23.
    • An expanded specialty portfolio with higher margins than structural products 1.

    Weaknesses

    • Dependence on commodity products with volatile prices can compress margins 1.
    • Significant fixed costs that amplify the impact of lower volumes 1.
    • Profitability sensitive to one-time items such as import duty benefits 3.

    Opportunities

    • Recovery in repair, remodel and multifamily construction could open new volumes 1.
    • Integrating Disdero and expanding premium products could support margins 1.
    • The digital transformation program could improve operational efficiency 2.

    Threats

    • Tariffs and trade policy changes could raise the cost of imported products 1.
    • Consolidation among competitors and customers could reduce negotiating power 1.
    • Disintermediation, where customers buy directly from manufacturers, could reduce volumes 1.

    Risks

    • Dependence on the housing markethigh

      Demand depends on mortgage rates, consumer confidence and construction activity, which are beyond the company's control 1. A prolonged slowdown could reduce sales 1.

    • Commodity price volatilityhigh

      Lumber and panel prices can fall quickly, which could create losses on sales of inventory bought at higher costs 1.

    • Tariffs and importsmedium

      New tariffs or trade measures could reduce supply of imported products or raise their costs 1.

    • Customer credit riskmedium

      Customers face the same economic cycle, and deterioration in the finances of large customers could affect collections 1.

    • Acquisition and transformation executionlow

      Integrating Disdero and the digital transformation program could face operational difficulties or unexpected costs 2.

    Investment thesis

    What would need to be true (bull case)

    • If the housing market recovers, national scale and footprint could allow volume growth at controlled costs 1.
    • Margin gains in specialty products suggest the mix strategy could support profitability over the longer term 13.
    • Liquidity and low leverage provide room for investment or share repurchases 23.

    What would break the thesis

    • If demand in repair, remodel and construction stays weak, volumes and margins could remain under pressure 1.
    • Price swings in structural products and tariff pressure could reduce profitability 1.
    • Part of the quarterly improvement came from one-time effects, which could make results less durable 3.

    What to watch

    • Gross margin trends in specialty and structural products against third-quarter guidanceQ3 2026
    • Average daily sales volumes compared with the third quarter of fiscal 2025Q3 2026
    • Lumber and panel price trends and their effect on inventory values2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).

    The business

    Strategy focuses on growing higher-margin specialty categories, expanding share in local and national markets and maintaining capital discipline 1. The Disdero Lumber acquisition in the fourth quarter of fiscal 2025 added premium building materials and expanded presence in the Pacific Northwest 1. The company also describes a business and digital transformation program aimed at efficiency and margins across cyclical conditions 2.

    The business is seasonal, with the first and fourth quarters usually weaker due to unfavorable weather, and the second and third quarters stronger 1. The cost structure depends on fleet, warehouses and freight, and the balance sheet shows a net leverage ratio of 0.6x on trailing Adjusted EBITDA, indicating low leverage 2.

    Market context

    Lumber and panel prices are set by market supply and demand and published indices, which makes margins hard to forecast 1. Tariffs and inflation can raise the cost of imported products, while weakness in construction could reduce volumes 1.

    Trends

    • Housing demand recoverytailwind

      The company says the U.S. housing shortage could support construction as the market recovers, but timing is uncertain 1. If new home demand rises, its national scale and footprint could bring higher volumes 1.

    • Specialty margin improvementtailwind

      Higher specialty margins and the integration of Disdero could support profitability, although part of the recent improvement came from one-time effects 13.

    • Tariffs and import costsheadwind

      Imported products are subject to tariffs and antidumping duties, and changes in trade policy could reduce supply or raise costs 1.

    • Consolidation of customers and suppliersmixed

      Consolidation among customers and manufacturers could reduce the number of distributors or make favorable pricing harder to negotiate 1. The effect is mixed: scale can help, but margin pressure increases 1.

    Competitive position

    Competition is based on product breadth, availability, price, service and facility location 1. Some competitors have greater financial resources because they belong to larger companies, and barriers to entry for local distributors are relatively low 1.

    The main competitors named in the filing are Boise Cascade, Weyerhaeuser and Specialty Building Products, and most major markets are served by the distribution arm of at least one of them 1. Disintermediation, where customers buy directly from manufacturers, adds further pressure 1.

    • Weyerhaeuser CompanyWY

      Named in the filing as a large competitor with a distribution arm in relevant markets 1.

    • Specialty Building Products

      Named among the largest competitors; no ticker is identified in the sources 1.

    • Regional and local distributors

      The market includes many closely held or specialized distributors with relatively low barriers to entry 1.

    News & filings

    In the press

    The latest news item in our archive is from 08 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

    SEC filings

    Sources

    1. [1] Form 10-K, fiscal year ended 2026-01-03 · SEC / BlueLinx Holdings Inc. · 24 Feb 2026
    2. [2] Form 10-Q, quarter ended 2026-07-04 · SEC / BlueLinx Holdings Inc. · 04 Aug 2026
    3. [3] Form 8-K, results release (exhibit 99.1) · SEC / BlueLinx Holdings Inc. · 04 Aug 2026

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.