olivLaw · US equity research
SiteOne Landscape Supply, Inc. SITE
Wholesale-Professional & Commercial Equipment & Supplies · SIC 5040 · Vertical: Wholesale — durable goods (SIC 504x)
SiteOne Landscape Supply is the largest national full product line wholesale distributor of landscape supplies in the United States, with an established presence in Canada, serving mainly landscape professionals. It matters now because residential and repair demand has softened while pricing and acquisitions support sales, and guidance for 2026 points to an expanding adjusted EBITDA margin.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, SiteOne Landscape Supply, Inc. (SITE) stock was 118.16 USD (+5.77% on the day), with market capitalisation 5.1 bn USD, P/E 31.9 on diluted EPS of 3.70 USD over the last 12 months, beta 1.06, 52-week range 86.36–163.25 USD. Latest reported quarter (Q3 2026): revenue of 1.3 bn USD (+2.6% YoY), net income of 63.9 m USD (+8.1% YoY), diluted EPS 1.46 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 77.3
- overbought (≥ 70)
- Bollinger (20, 2)
- 81.40 – 118.69
- in the upper half of the band · %B 0.99 · band width 37.3%
- SMA 50 / 200
- 95.79 / 115.89
- mixed trend
- MACD (12, 26, 9)
- 5.78 / 3.77
- 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
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +34.8% | −1.1% | +35.9 pp | — |
| 3 months | +15.9% | −0.5% | +16.3 pp | — |
| 6 months | −3.3% | +4.4% | −7.7 pp | — |
| Year to date | −5.1% | +12.3% | −17.5 pp | — |
| 1 year | −6.0% | +13.5% | −19.5 pp | +21.6% |
| 3 years | −7.5% | +76.4% | −83.9 pp | +44.9% |
| 5 years | −51.6% | +63.7% | −115.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 27 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 939.4 m | 1.5 bn | 1.3 bn | 1.0 bn | 940.1 m | 1.5 bn | 1.3 bn |
| Cost of revenue | 675.5 m | 629.6 m | 930.2 m | 821.0 m | 688.8 m | 621.3 m | 966.2 m | 832.6 m |
| Gross profit | 337.6 m | 309.8 m | 531.4 m | 437.2 m | 356.8 m | 318.8 m | 564.5 m | 458.5 m |
| SG&A | 364.5 m | 343.2 m | 349.1 m | 357.4 m | 365.9 m | 349.9 m | 370.7 m | 368.7 m |
| Operating income | -24.9 m | -29.5 m | 187.4 m | 85.2 m | -5.0 m | -25.9 m | 197.6 m | 95.8 m |
| Interest expense | 6.7 m | 7.4 m | 10.3 m | 9.1 m | 8.2 m | 8.0 m | 10.0 m | 9.5 m |
| Pre-tax income | -31.6 m | -36.9 m | 177.1 m | 76.1 m | -13.2 m | -33.9 m | 187.6 m | 86.3 m |
| Income tax | -10.1 m | -9.4 m | 45.0 m | 15.5 m | -5.4 m | -9.8 m | 48.3 m | 22.4 m |
| Net income | -21.7 m | -27.3 m | 129.0 m | 59.1 m | -13.4 m | -26.6 m | 139.3 m | 63.9 m |
| Diluted EPS | -0.48 ≈ | -0.61 | 2.86 | 1.31 | -0.30 ≈ | -0.60 | 3.14 | 1.46 |
| Operating cash flow | 119.4 m | -129.6 m | 136.7 m ≈ | 128.6 m ≈ | 164.8 m | -122.1 m | 153.2 m ≈ | 125.6 m ≈ |
| Capex | 9.5 m | 14.8 m | 14.3 m ≈ | 10.1 m ≈ | 14.5 m | 23.0 m | 17.6 m ≈ | 17.3 m ≈ |
| Share repurchases | 29.7 m | 3.8 m | 54.5 m ≈ | 0 ≈ | 40.0 m | 20.0 m | 94.4 m ≈ | 62.2 m ≈ |
≈ 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.
Today's P/E sits at the 6 percentile of its own 31-quarter history (min 24.7, median 43.1, max 133.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.9 bn | 2.1 bn | 2.4 bn | 2.7 bn | 3.5 bn | 4.3 bn | 4.5 bn | 4.7 bn |
| Revenue YoY | +28.3% | +13.5% | +11.6% | unavailable | +28.5% | +23.8% | +5.6% | +3.6% |
| Net income | 54.6 m | 73.9 m | 77.7 m | 121.3 m | 238.4 m | 173.4 m | 123.6 m | 151.8 m |
| Net income YoY | +88.9% | +35.3% | +5.1% | unavailable | +96.5% | −27.3% | −28.7% | +22.8% |
| Diluted EPS | 1.29 | 1.73 | 1.82 | 2.75 | 5.20 | 3.80 | 2.71 | 3.37 |
| Diluted EPS YoY | unavailable | +34.1% | +5.2% | unavailable | +89.1% | −26.9% | −28.7% | +24.4% |
| net % | 2.9% | 3.5% | 3.3% | 4.5% | 6.9% | 4.0% | 2.7% | 3.2% |
| Free cash flow | 1.8 m | 63.2 m | 111.3 m | 210.8 m | 178.3 m | 265.4 m | 242.9 m | 246.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 28 Dec 2025
- Cash
- 190.6 m USD
- Financial debt
- 385.4 m USD
- Net debt
- 194.8 m USD
- Equity
- 1.7 bn USD
- Total assets
- 3.2 bn USD
- Debt / equity
- 0.23x
- Current ratio
- 2.47x
- ROE
- 9.4%
- ROA
- 4.8%
- FCF margin
- 5.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 2.7 bn | 3.5 bn | 4.3 bn | 4.5 bn | 4.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Cost of revenue | 1.6 bn | 1.8 bn | 2.3 bn | 2.8 bn | 3.0 bn | 3.1 bn | SEC (XBRL)· 19 Feb 2026verified |
| Gross profit | 773.2 m | 901.3 m | 1.2 bn | 1.5 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 19 Feb 2026verified |
| SG&A | 654.3 m | 728.2 m | 900.6 m | 1.3 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 19 Feb 2026verified |
| Operating income | 124.9 m | 179.8 m | 313.7 m | 250.3 m | 192.3 m | 238.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Interest expense | 33.4 m | 31.0 m | 19.2 m | 27.1 m | 31.9 m | 35.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Pre-tax income | 91.5 m | 148.8 m | 294.5 m | 223.2 m | 160.4 m | 203.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Income tax | 13.8 m | 27.5 m | 56.1 m | 49.8 m | 36.0 m | 45.7 m | SEC (XBRL)· 19 Feb 2026verified |
| Net income | 77.7 m | 121.3 m | 238.4 m | 173.4 m | 123.6 m | 151.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Diluted EPS | 1.82 | 2.75 | 5.20 | 3.80 | 2.71 | 3.37 | SEC (XBRL)· 19 Feb 2026verified |
| Weighted average diluted shares | 42.8 m | 44.1 m | 45.8 m | 45.7 m | 45.6 m | 45.1 m | SEC (XBRL)· 19 Feb 2026verified |
Balance sheet · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 19.0 m | 55.2 m | 53.7 m | 82.5 m | 107.1 m | 190.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Receivables | 283.4 m | 292.8 m | 393.8 m | 490.6 m | 547.1 m | 546.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Inventories | 427.1 m | 458.6 m | 636.6 m | 771.2 m | 827.2 m | 876.5 m | SEC (XBRL)· 19 Feb 2026verified |
| Current assets | 765.8 m | 851.6 m | 1.1 bn | 1.4 bn | 1.5 bn | 1.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Goodwill | 181.3 m | 250.6 m | 311.1 m | 485.5 m | 518.1 m | 530.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Intangibles (excl. goodwill) | 150.6 m | 196.3 m | 213.9 m | 280.8 m | 261.0 m | 220.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Total assets | 1.4 bn | 1.7 bn | 2.1 bn | 2.8 bn | 3.1 bn | 3.2 bn | SEC (XBRL)· 19 Feb 2026verified |
| Accounts payable | 162.2 m | 172.8 m | 254.5 m | 270.8 m | 315.5 m | 310.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Short-term debt | 4.5 m | 2.8 m | 4.0 m | 5.3 m | 4.3 m | 3.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Long-term debt | 520.4 m | 260.7 m | 251.2 m | 367.6 m | 383.9 m | 381.5 m | SEC (XBRL)· 19 Feb 2026verified |
| Current liabilities | 310.8 m | 368.6 m | 512.9 m | 578.3 m | 640.8 m | 686.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Total liabilities | 1.1 bn | 900.7 m | 1.1 bn | 1.3 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 19 Feb 2026verified |
| Equity | 393.2 m † | 795.0 m † | 1.1 bn † | 1.5 bn † | 1.6 bn † | 1.7 bn † | SEC (XBRL)· 19 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 130.8 m | 229.4 m | 210.8 m | 297.5 m | 283.4 m | 300.5 m | SEC (XBRL)· 19 Feb 2026verified |
| Capex | 19.5 m | 18.6 m | 32.5 m | 32.1 m | 40.5 m | 53.7 m | SEC (XBRL)· 19 Feb 2026verified |
| Free cash flow | 111.3 m ≈ | 210.8 m ≈ | 178.3 m ≈ | 265.4 m ≈ | 242.9 m ≈ | 246.8 m ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Investing cash flow | -91.9 m | -184.2 m | -182.0 m | -226.0 m | -177.1 m | -83.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Financing cash flow | -37.3 m | -9.1 m | -30.4 m | -18.3 m | -80.9 m | -134.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Share repurchases | — | 0 | 0 | 12.0 m | 51.3 m | 98.3 m | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 60 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 5.1 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation41
- Returns61
- Quality70
- Balance sheet94
- Growth44
Estimated value range
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: 54.90 – 149.42 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)92.13 – 149.42 (Mid 114.10)WACC 8.9% · starting FCFF 276.1 m USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 12.1%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E54.90 – 84.84 (Mid 70.33)7 companies used · median multiple 19.0x · quartiles 14.8x – 22.9xCLMB, CNXN, HSIC, INGM, PLUS, SCSC, SNX
- Dividend discount (DDM)unavailable · input data missing
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
Unattractive profile · Score 60/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 9.8% | 40 (vs peers) | 14% |
| Net margin · Quality | 3.4% | 91 (vs peers) | 8% |
| FCF conversion · Quality | 152.6% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | 10.6% | 88 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -13.5% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 7.4x | 90 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 2.4x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 31.9x | 25 (vs peers) | 14% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 4.9% | 61 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 4.3% | 61 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet94/100 · 2/3 factors with a value
- Growth44/100 · 2/2 factors with a value
- Quality70/100 · 3/3 factors with a value
- Returns· partial61/100 · 1/2 factors with a value
- Valuation41/100 · 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
SiteOne Landscape Supply, Inc. (SITE). Latest full fiscal year: 2025; data up to 2026-09-27.
Figures computed from the financial statements: revenue 4.7 bn USD in 2025; YoY growth 3.6%; net margin 3.4%; ROE 9.6%.
The estimated value range is 73.52–117.13 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 92.21 USD, the price of 118.16 USD leaves a potential of -22.0% (value / price − 1) and a margin of safety of -28.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 60/100, methodological classification: unattractive 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
- Net margin: 3.4%
- FCF conversion: 152.6%
- Revenue CAGR 3Y: 10.6%
- Interest coverage: 7.4x
- Current ratio: 2.4x
What contradicts it
- EPS CAGR 3Y: -13.5%
- P/E (TTM): 31.9x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Wholesale — durable goods (SIC 504x) · same industry group (3-digit SIC) · compared with 11 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SNXTd Synnex Corporation | 18.4 bn | 14.0 | 14.9% | 1.8% | +6.9% | +51% / +134% |
| HSICHenry Schein, Inc. | 9.8 bn | 24.2 | 12.9% | 3.1% | +4.0% | +18% / +32% |
| INGMIngram Micro Holding Corp | 6.0 bn | 13.2 | 10.9% | 0.8% | +9.5% | +22% / unavailable |
| SITESiteOne Landscape Supply, Inc. | 5.1 bn | 31.9 | 9.6% | 3.4% | +3.6% | −6% / −8% |
| PLUSePlus inc. | 2.4 bn | 19.0 | 12.0% | 5.1% | +22.1% | +1% / +43% |
| CNXNPc Connection, Inc. | 2.2 bn | 21.7 | 10.9% | 3.3% | +2.5% | +51% / +47% |
| SCSCScanSource, Inc. | 1.1 bn | 15.7 | 8.7% | 2.4% | +6.1% | +39% / +70% |
| CLMBClimb Global Solutions, Inc. | 803.2 m | 33.8 | 19.5% | 3.1% | +40.1% | +70% / +261% |
| CGTLCreative Global Technology Holdings Limited | 56.2 m | — | -84.9% | -63.2% | −40.6% | −79% / unavailable |
| ACHAccendra Health, Inc. | 21.2 m | — | — | -11.4% | +3.1% | −90% / −99% |
| CLWTEuro Tech Holdings Company Limited | 10.1 m | 67.5 | 1.1% | 1.3% | −13.8% | +22% / −8% |
| PNSkycorp Solar Group Limited | — | — | -14.9% | -4.3% | +27.0% | −85% / unavailable |
1- and 3-year price returns: for SITE 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.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 75.80 Total return -36% · Per year -36% | 133.63 Total return 13% · Per year 13% | 200.78 Total return 70% · Per year 70% |
| 3 years | 82.89 Total return -30% · Per year -11% | 163.52 Total return 38% · Per year 11% | 268.40 Total return 127% · Per year 31% |
| 5 years | 90.65 Total return -23% · Per year -5% | 200.10 Total return 69% · Per year 11% | 358.80 Total return 204% · Per year 25% |
- Exit P/E± 40.88
- Net margin± 28.62
- Annual revenue growth± 22.19
- Annual dilution± 2.40
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 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
In brief
SiteOne Landscape Supply is the largest national full product line wholesale distributor of landscape supplies in the United States, with an established presence in Canada, serving mainly landscape professionals. It matters now because residential and repair demand has softened while pricing and acquisitions support sales, and guidance for 2026 points to an expanding adjusted EBITDA margin.
SWOT
Strengths
- Unique national coverage in full product line, a large branch network and a proprietary delivery fleet.
- Solid balance sheet with moderate net debt and access to financing through the extended ABL facility.
- Long relationships with contractors, the Partners loyalty program and consultative services differentiate the company.
Weaknesses
- Dependence on residential and commercial construction cycles makes sales sensitive to interest rates.
- Demand is seasonal and quarterly results vary widely from one quarter to the next.
- Fuel and transport costs have risen, and the company has no hedging coverage for fuel.
Opportunities
- The fragmented market leaves room for further acquisitions and for growing local market share.
- The trend of spending more time at home and investing in outdoor spaces could support long-term demand.
- Expanding the product range in existing branches and digitizing the B2B platform could lift sales.
Threats
- Demand for new homes and renovations could keep falling if mortgage rates remain high.
- Tariffs and geopolitical tensions can raise purchase costs and disrupt supply chains.
- Extreme weather such as droughts and hurricanes can reduce demand and product availability.
Risks
- Construction cyclicalityhigh
Downturns in residential and commercial construction can reduce sales and profitability, and management has already flagged softening in these segments.
- Cost and pricing pressurehigh
If purchase prices rise faster than they can be passed on to customers, gross margin could come under pressure.
- Weather and seasonalitymedium
Droughts, storms and other weather events can affect demand and product availability, especially in the weaker quarters.
- Environmental and chemical regulationmedium
Rules on chemicals and pesticides can raise compliance costs and create liability exposure.
- Acquisition integrationlow
Successive acquisitions can bring integration difficulties and could reduce returns if expected synergies do not materialize.
Investment thesis
What would need to be true (bull case)
- A leading national position with full product range and a dense branch network gives an advantage that regional competitors find hard to replicate, especially if the market consolidates.
- Price increases and acquisition programs can support sales even in a weak market, and 2026 guidance points to an expanding adjusted EBITDA margin.
- The solid balance sheet and moderate debt level allow share repurchases and acquisition investment without major financing pressure.
What would break the thesis
- If mortgage rates stay high, demand for new construction and renovations could remain weak for longer than management expects.
- Price support could fade if demand falls, while fuel and transport costs could continue to weigh on margins.
- Reliance on acquisitions for sales growth may mask weak organic demand and raise integration risk.
What to watch
- Organic sales trend and the organic sales guidance for 2026Q3 2026
- Pace of decline in residential construction and repair demand, as estimated by management2026
- Delivery of fiscal 2026 adjusted EBITDA guidance and the effect of the extra weeknext 10-K
- Pace of acquisitions and their effect on net sales and leverage2027
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 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).
The business
SiteOne distributes landscape products including pavers and natural stone, irrigation supplies, fertilizer and control products, landscape accessories, nursery goods and outdoor lighting, from about 180,000 SKUs served by over 670 branches in 45 U.S. states and five Canadian provinces. Its customers are mainly residential and commercial contractors, to whom it adds consultative services, project support and the SiteOne University training program. The model rests on local presence and a national logistics network with over 2,600 delivery vehicles.
Sales are well balanced across sectors: in fiscal 2025 about 60% of net sales came from residential construction, 32% from commercial construction and 8% from recreational and other construction. By end market, about 36% came from maintenance of existing properties, a steadier base through economic cycles. Proprietary products, mainly under the LESCO brand, made up about 15% of fiscal 2025 net sales.
The strategy combines organic growth at the local level, selective acquisitions of regional distributors and digitization of the B2B platform. In the second quarter of 2026 the company amended its ABL facility, extending maturity to April 2031, and bought the remaining 25% interest in Devil Mountain Wholesale Nursery, showing management is using its solid balance sheet for both acquisitions and share repurchases.
Segments
Landscape products
Hardscapes, irrigation, outdoor lighting, accessories and nursery goods form a demand cycle tied to new construction and the outdoor living trend, more sensitive to housing cycles.
Agronomic and maintenance products
Fertilizers, control products, grass seed and ice melt have steadier demand linked to maintenance of existing landscapes, but are sensitive to weather and raw material prices.
Market context
The company estimates the North American wholesale landscape supply market at about 25 billion dollars in fiscal 2025, a highly fragmented market dominated by regional private distributors. Demand depends on home sales, mortgage rates, repair and remodeling spending and demographic trends, and for 2026 management sees new residential demand weakening while maintenance grows modestly.
The industry benefits over the long term from favorable population trends and continued interest in outdoor living, but affordability constraints and high mortgage costs may keep demand below peak levels. If these conditions persist, growth in the repair and upgrade segment could remain limited in the coming quarters.
Trends
- Higher pricingtailwind
Price increases of about 3% in the second quarter of 2026 support organic sales, although underlying demand remains weak.
- Weaker residential constructionheadwind
High interest rates and low home affordability weigh on new construction and repair demand, which could prolong pressure on sales.
- Acquisitions of regional distributorsmixed
The fragmented market offers consolidation opportunities, and recent acquisitions contributed to sales growth, but they can also bring integration costs.
- Fuel and logistics costsheadwind
Higher fuel and freight costs weigh on gross margin, and the company has no hedging arrangements for fuel.
Competitive position
SiteOne presents itself as the only national full product line wholesale distributor of landscape supplies in the United States, but the market is fragmented, with many small regional competitors that have narrower product ranges and limited supplier relationships. Its advantage comes from network scale, yard space for hardscapes and nursery goods, and consultative services.
Competition also comes from distributors that sell some of the same products without national coverage or full product breadth, so customer loyalty and local service remain decisive factors.
- Regional private distributors
Small companies with limited geographic reach and narrow product ranges compete locally on price and customer relationships.
- General building and garden products distributors
Companies selling some of the same product categories without a full product line dedicated to landscaping.
- Suppliers selling directly to contractors
Manufacturers that in some cases sell directly to customers, bypassing distribution.
- Nurseries and garden center chains
Retail players that attract part of end customer demand without competing directly for professional contractors.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- SiteOne Landscape Supply’s (SITE) Soft First Quarter Is a Seasonal Feature, Not a FlawYahoo Finance — News · 18 Sept 2026 · EN
The latest news item in our archive is from 18 Sept 2026; the newest SEC filing is from 28 Oct 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
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report28 Oct 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Jul 2026
- Current report19 May 2026Shareholder vote
- Quarterly report29 Apr 2026
- Current report29 Apr 2026Results of operations · Financial statements and exhibits
- Current report27 Apr 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Proxy statement02 Apr 2026
- Current report31 Mar 2026Departure or appointment of officers · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-28 · SEC / SiteOne Landscape Supply, Inc. · 19 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-28 · SEC / SiteOne Landscape Supply, Inc. · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / SiteOne Landscape Supply, Inc. · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.