Description

TopBuild: Commercial & Industrial Market Expansion & Other Key Growth Levers!

TopBuild Corporation recently reported its third-quarter 2025 earnings, showcasing a mixed but strategic performance amidst a challenging macroeconomic environment. The company’s financial results were in line with expectations, with total sales increasing by 1.4% to $1.4 billion. This growth was primarily driven by mergers and acquisitions (M&A) contributing 7.9%, despite a 6.7% decline in volume and marginal pricing enhancement of 0.3%. The acquisition strategy remains a cornerstone of TopBuild’s growth, as evidenced by the recent purchase of Progressive Roofing and the completion of the SPI transaction. Progressive Roofing, expected to generate roughly $440 million in annual sales, helps establish a growth platform within the highly fragmented commercial roofing market. Meanwhile, the SPI acquisition strengthens TopBuild’s mechanical insulation and custom fabrication capabilities, with anticipated annual synergies of $35 to $40 million over the next two years.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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