Risk Sleuth
BLDR · 10-K filed 17 Feb 2026 · year to 31 Dec 2025

Builders FirstSource

31 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

D.R. Horton, Inc.

earns from · top 10 customers accounted for 14% of net salesnamed as a risk
Our largest customers are comprised primarily of the largest national production homebuilders, including D.R. Horton, Inc., Lennar Corporation, Pulte Homes, Inc., Toll Brothers Inc, and Meritage Homes.Business (Item 1)

Lennar Corporation

earns fromnamed as a risk
Our largest customers are comprised primarily of the largest national production homebuilders, including D.R. Horton, Inc., Lennar Corporation, Pulte Homes, Inc., Toll Brothers Inc, and Meritage Homes.Business (Item 1)

PulteGroup, Inc.

earns fromnamed as a risk
Our largest customers are comprised primarily of the largest national production homebuilders, including D.R. Horton, Inc., Lennar Corporation, Pulte Homes, Inc., Toll Brothers Inc, and Meritage Homes.Business (Item 1)

Toll Brothers Inc.

earns fromnamed as a risk
Our largest customers are comprised primarily of the largest national production homebuilders, including D.R. Horton, Inc., Lennar Corporation, Pulte Homes, Inc., Toll Brothers Inc, and Meritage Homes.Business (Item 1)

Meritage Homes

earns fromnamed as a risk
Our largest customers are comprised primarily of the largest national production homebuilders, including D.R. Horton, Inc., Lennar Corporation, Pulte Homes, Inc., Toll Brothers Inc, and Meritage Homes.Business (Item 1)

Suppliers

Boise Cascade Company

depends on · largest single supplier represents only 8% of our total materials purchases
Our largest suppliers are national companies such as Boise Cascade Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Specialty Building Products, James Hardie Industries plc, and Mitek Industries Inc.Business (Item 1)

Weyerhaeuser Company

depends on
Our largest suppliers are national companies such as Boise Cascade Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Specialty Building Products, James Hardie Industries plc, and Mitek Industries Inc.Business (Item 1)

Also named by RYN

West Fraser Timber Co. Ltd.

depends on
Our largest suppliers are national companies such as Boise Cascade Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Specialty Building Products, James Hardie Industries plc, and Mitek Industries Inc.Business (Item 1)

Specialty Building Products

depends on
Our largest suppliers are national companies such as Boise Cascade Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Specialty Building Products, James Hardie Industries plc, and Mitek Industries Inc.Business (Item 1)

James Hardie Industries plc

depends on
Our largest suppliers are national companies such as Boise Cascade Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Specialty Building Products, James Hardie Industries plc, and Mitek Industries Inc.Business (Item 1)

MiTek Industries Inc.

depends on
Our largest suppliers are national companies such as Boise Cascade Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Specialty Building Products, James Hardie Industries plc, and Mitek Industries Inc.Business (Item 1)

Other companies

Revolving Facility

depends on · $2.2 billion revolving credit facilitynamed as a risk
We are substantially reliant on cash on hand and borrowing availability under the Revolving Facility, which totaled $1.7 billion at December 31, 2025, to provide working capital and fund our operations.Risk factors (Item 1A)

Also named by CROX, IEX

U.S. residential homebuilding industry

earns fromnamed as a risk
The building products industry is highly dependent on new home and multi-family construction as well as repair and remodel, which in turn are dependent upon a number of factors, outside of our control, including interest rates, consumer confidence, employment rates, foreclosure rates, housing inventory levels and occupancy, housing demand and the health of the U.S. economy and mortgage markets.Risk factors (Item 1A)

Competitors

The Home Depot, Inc.

competes withnamed as a risk
The Home Depot, Inc., through its acquisitions of SRS Distribution Inc. and GMS Inc., and Lowe’s Companies Inc., through its acquisition of Foundation Building Materials, continue to reposition themselves to gain market share in the Pro Segment.Business (Item 1)

Also named by FBIN

Lowe's Companies Inc.

competes withnamed as a risk
The Home Depot, Inc., through its acquisitions of SRS Distribution Inc. and GMS Inc., and Lowe’s Companies Inc., through its acquisition of Foundation Building Materials, continue to reposition themselves to gain market share in the Pro Segment.Business (Item 1)

Also named by FBIN

U.S. LBM

competes with
We face competition from other large national dealers that focus on the Pro Segment, including U.S. LBM, 84 Lumber and Carter Lumber; specialty dealers; regional and local building supplies dealers; single and multi-site lumber yards; framing contractors; component manufacturers, including UFP Construction and Stark Truss; and millwork operators, such as American Cedar and Millwork, and Western Pacific.Business (Item 1)

84 Lumber

competes with
We face competition from other large national dealers that focus on the Pro Segment, including U.S. LBM, 84 Lumber and Carter Lumber; specialty dealers; regional and local building supplies dealers; single and multi-site lumber yards; framing contractors; component manufacturers, including UFP Construction and Stark Truss; and millwork operators, such as American Cedar and Millwork, and Western Pacific.Business (Item 1)

UFP Construction

competes with
We face competition from other large national dealers that focus on the Pro Segment, including U.S. LBM, 84 Lumber and Carter Lumber; specialty dealers; regional and local building supplies dealers; single and multi-site lumber yards; framing contractors; component manufacturers, including UFP Construction and Stark Truss; and millwork operators, such as American Cedar and Millwork, and Western Pacific.Business (Item 1)

Places

Houston, Texas

operates in
We manufacture a portion of the vinyl windows that we distribute in our Houston, Texas plant which allows us to supply builders, primarily in the Texas market, with cost-competitive products.Business (Item 1)

Also named by HHH, MAIN, PB, POWL

Hazards

Asbestos

named as a risk
We are also involved in several asbestos personal injury suits due to the alleged sale of asbestos-containing products by legacy businesses that we acquired.Risk factors (Item 1A)

Also named by AAP, APG, CARR, JCI, NVT, PLD, RPM, TRV

Adverse weather

named as a risk
Our first and fourth quarters have historically been, and are generally expected to continue to be, adversely affected by weather causing reduced construction activity during these quarters.Business (Item 1)

Also named by CSL, JOUT, TREX

Commodities and inputs

Lumber

exposed to its price · 26% of total net salesnamed as a risk
Our lumber and lumber sheet goods product category represented 26% of total net sales for the year ended December 31, 2025.Risk factors (Item 1A)

Also named by DHI, GHC, HD, HHH, KIM, LEN, LOW, MGRC and 11 more

Diesel fuel

exposed to its pricenamed as a risk
The specific consequences of these geopolitical conflicts on our business are difficult to predict at this time, but in addition to inflationary pressures affecting our operations, any shortages of fuel or significant fuel cost increases could seriously disrupt our ability to distribute products to our customers.Risk factors (Item 1A)

Also named by ADM, BTU, CAH, CHD, CHRW, COST, CP, CSX and 43 more

Oriented strand board (OSB)

exposed to its pricenamed as a risk
Lumber and lumber sheet goods include dimensional lumber, plywood and oriented strand board (“OSB”) products used in on-site house framing.Business (Item 1)

Also named by LPX, WY

Regulators

U.S. Department of Transportation

subject tonamed as a risk
These laws, regulations and executive orders include, among other things, regulations promulgated by the Department of Transportation and applicable to our fleet of delivery trucks, work safety regulations promulgated by the Department of Labor’s Occupational Safety and Health Administration, employment regulations, including immigration and work-authorization laws and regulations promulgated by the United States Equal Employment Opportunity Commission, tariff regulations on imported products promulgated by the Federal government, laws and regulations related to cybersecurity, data privacy, encryption, artificial intelligence, telecommunications, accounting standards issued by the Financial Accounting Standards Board (“FASB”) or similar entities, state and local regulations relating to our escrow business, and state and local zoning restrictions and building codes.Risk factors (Item 1A)

Also named by ACHR, AESI, ALK, CHRW, CTAS, DAL, EXPE, FDX and 19 more

Occupational Safety and Health Administration (OSHA)

subject tonamed as a risk
These laws, regulations and executive orders include, among other things, regulations promulgated by the Department of Transportation and applicable to our fleet of delivery trucks, work safety regulations promulgated by the Department of Labor’s Occupational Safety and Health Administration, employment regulations, including immigration and work-authorization laws and regulations promulgated by the United States Equal Employment Opportunity Commission, tariff regulations on imported products promulgated by the Federal government, laws and regulations related to cybersecurity, data privacy, encryption, artificial intelligence, telecommunications, accounting standards issued by the Financial Accounting Standards Board (“FASB”) or similar entities, state and local regulations relating to our escrow business, and state and local zoning restrictions and building codes.Risk factors (Item 1A)

Also named by CSW, CTOS, ECG, FIX, GVA, HLIO, IBP, PRIM and 7 more

U.S. Department of Housing and Urban Development (HUD)

subject to
Currently, the majority of these manufactured homes are constructed in accordance with the regulations and rules of the U.S. Department of Housing and Urban Development (“HUD”).Business (Item 1)

Also named by ABR, DHI, ENSG, NLY, PATK, STWD

Laws and programs

One Big Beautiful Bill Act (H.R.1)

subject tonamed as a risk
In addition, our effective tax rate in the future could be adversely affected by changes to our operating structure, changes in the valuation of deferred tax assets and liabilities, changes in tax laws, such as the H.R.1 - One Big Beautiful Bill Act enacted into law in 2025, and the discovery of new information in the course of our tax return preparation.Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

U.S. tariffs on imported products

subject tonamed as a risk
The Company may not succeed in addressing these and other risks.Business (Item 1)

Technology

New ERP system

depends onnamed as a risk
We are currently implementing a new ERP system and there is no guarantee that such implementation will be successful or that we will not experience disruptions in connection with the new ERP system.Risk factors (Item 1A)

Paradigm

We believe that our scale and continuous investments in digital technologies through our Paradigm business uniquely position us to transform our industry through the deployment of our digital solutions.Business (Item 1)