BlueLinx Holdings Inc. (BXC) Stock

BlueLinx Holdings Inc. (BXC) is a Consumer Discretionary stock trading at $75.89 (as of 2026-09-02), with a market capitalization of $596.51M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

BlueLinx Holdings Inc. distributes residential and commercial building products in the United States through a network of distribution centers. Its specialty offerings include engineered wood, industrial products, cedar, molding, siding, metal, and insulation, while structural products include lumber, plywood, oriented strand boards, rebar and remesh, spruce, and other wood products, serving dealers, specialty distributors, national home centers, and manufactured housing customers.

Understand BlueLinx Holdings Inc.: how it makes money

BlueLinx distributes lumber, engineered wood, and structural building materials to dealers and specialty builders across the U.S., earning a spread between supplier costs and customer pricing. Most revenue (roughly two-thirds) comes from specialty products, while structural lumber and panels make up the rest and swing with commodity cycles.

BlueLinx's profit model is a thin distribution spread: it buys lumber and specialty wood products from manufacturers at wholesale and resells them to dealers and builders, keeping roughly 17% gross and about 2.5% operating margin. The specialty product mix provides mild differentiation from pure commodity lumber, but the underlying business remains a low-margin, working-capital-intensive pass-through.

Revenue by segment (latest quarter)
Specialty Products$0.5B
Structural Products$0.2B

Business quality (Weak): Very low operating margin (2.5%), minimal ROE (1.0%), and a P/E of 126x against a 24x industry norm place this firmly in the weak-quality, expensively-valued bucket for a wholesale distributor.

Valuation: At 126× earnings, BXC trades 437% above the Wholesale average (24×).

Bull case

  • Volume growth despite soft housing: Channel initiatives are generating volume growth even as housing starts decline, with quarterly revenue at $800 million (+4% YoY) showing the distributor can still gain share in a weak market.
  • Specialty mix expanding branded share: Management is adding new supplier relationships to broaden its specialty branded assortment. Specialty products already represent $510 million, or 64% of revenue, and a wider branded lineup aims to reduce reliance on commodity pricing.
  • Outperformance when housing recovers: Management expects growth above the housing-market average when construction activity rebounds, giving the stock embedded upside tied to a cyclical turn that has not yet arrived.

Bear case

  • Commodity pricing crushes structural sales: Structural sales declined nearly 5% in the quarter because of lower lumber and panel pricing, and management expects weaker Adjusted EBITDA across the rest of 2026 as the price cycle stays negative.
  • Negative cash flow from working capital: Free cash flow was negative $60 million due to seasonal working-capital requirements, a reminder that a distributor of this size must fund inventory and receivables from the balance sheet each quarter.
  • Valuation far above industry norm: At a P/E of 126.3x versus a wholesale-industry average of roughly 24x (437% above), the stock prices in a sustained earnings recovery that the current 2.5% operating margin does not yet support.
Valuation — source: SEC EDGAR (first-party)
Price$75.89
Market Cap$596.51M
EV / EBITDA7.7
Price / Book0.96
Price / Sales0.20
FCF Yield5.5%
DCF Value (model)$45.82
DCF Upside vs Price-39.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.95B
Net Margin0.0%
Revenue Growth (YoY)0.7%
EPS Growth (YoY)-271.0%
FCF Growth (YoY)505.5%
Financial Health — source: SEC EDGAR
Altman Z-Score3.42 (safe)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Consumer Discretionary)20.1
Industry P/E (Wholesale)23.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($46.54M)
Institutional Holders Tracked10
Company
SectorConsumer Discretionary
IndustryWholesale
CEOShyam K. Reddy
Employees1,980
CountryUS
IPO Date2004-12-14

BlueLinx Holdings Inc. earnings call transcripts

  • BXC Q1 FY26 earnings call transcript (reported 2026-05-05) · analysis
  • BXC Q4 FY25 earnings call transcript (reported 2026-02-24) · analysis

All BXC earnings calls

Related Companies (Wholesale; 8 comparable wholesalers)

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  • AMCON Distributing Company (DIT)
  • Saia, Inc. (SAIA)
  • Matson, Inc. (MATX)
  • Forward Air Corporation (FWRD)
  • ArcBest Corporation (ARCB)
  • The Chefs' Warehouse, Inc. (CHEF)
BXC earnings history · BXC institutional & insider holders · BXC KPIs & operating metrics · BXC financials · BXC investor presentations & press releases · BXC SEC filings · BXC peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.