Builders FirstSource, Inc. stock research
FY2026 Q1
Builders FirstSource (BLDR) Gross Margin — Quarter Ended Mar 31, 2026
Revenue and gross profit were lower than both the prior quarter and the same quarter a year earlier. Cost of revenue remained stable compared to the prior quarter but was lower than a year ago, resulting in a weakened gross margin.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue and gross profit were lower than both the prior quarter and the same quarter a year earlier. Cost of revenue remained stable compared to the prior quarter but was lower than a year ago, resulting in a weakened gross margin.
- The strongest observable driver is the decline in gross profit while cost of revenue held steady sequentially, compressing the margin percentage.
- Compared to the prior quarter, revenue and gross profit decreased, and gross margin weakened. The same trends were evident when compared to the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
28.3%
Gross profit
$929.0M
Revenue
$3.3B
Cost of revenue
$2.4B
Quarter-over-quarter change
-1.6 pts
Year-over-year change
-2.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $4.2B | $1.3B | $2.9B | 30.7% |
| Sep 30, 2025 | $3.9B | $1.2B | $2.7B | 30.4% |
| Dec 31, 2025 | $3.4B | $1.0B | $2.4B | 29.8% |
| Mar 31, 2026 | $3.3B | $929.0M | $2.4B | 28.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-1.6 pts
Year-over-year change
Mar 31, 2025
-2.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the decline in gross profit while cost of revenue held steady sequentially, compressing the margin percentage.
Compared to the prior quarter, revenue and gross profit decreased, and gross margin weakened. The same trends were evident when compared to the same quarter one year earlier.
Monitor whether cost of revenue remains stable as revenue changes, as this directly affects gross margin.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Builders FirstSource, Inc. (BLDR) | 28.3% |