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Lumber & wood production · Basic Materials · Fiscal year ends Dec 26
Ufp Industries reported revenue of $6.3B in the fiscal year ended Dec 2025, down 5.0% from the year before. Operating income was $364M, an operating margin of 5.8%, and net income was $295M. Operating cash flow of $546M less capital expenditure of $269M left free cash flow of $276M. It held more cash than debt (net cash $684M).
Ranks among the 5 lumber & wood production companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 8,636 | 9,627 | 7,218 | 6,652 | 6,320 |
| Cost of revenue | 7,229 | 7,837 | 5,799 | 5,426 | 5,260 |
| Gross profit | 1,407 | 1,789 | 1,419 | 1,227 | 1,060 |
| Selling, general & admin | 682 | 832 | 767 | 735 | 691 |
| Operating income | 738 | 950 | 647 | 492 | 364 |
| Interest expense | 13.8 | 13.9 | 12.8 | 12.7 | 10.9 |
| Pre-tax income | 726 | 935 | 671 | 540 | 392 |
| Income tax | 174 | 230 | 157 | 121 | 96.2 |
| Net income | 536 | 693 | 514 | 415 | 295 |
| Diluted EPS | 8.59 | 10.97 | 8.07 | 6.77 | 5.00 |
| Diluted shares | 60.4 | 60.7 | 60.6 | 58.9 | 56.8 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 287 | 559 | 1,118 | 1,172 | 914 |
| Receivables | 738 | 618 | 549 | 501 | 476 |
| Inventory | 963 | 973 | 728 | 721 | 722 |
| Current assets | 2,073 | 2,262 | 2,502 | 2,503 | 2,269 |
| Net PP&E | 589 | 689 | 777 | 891 | 993 |
| Goodwill | 315 | 337 | 336 | 340 | 344 |
| Total assets | 3,245 | 3,672 | 4,018 | 4,151 | 4,023 |
| Payables | 319 | 207 | 203 | 225 | 206 |
| Deferred revenue | 10.7 | 10.2 | 9.5 | 6.5 | 4.0 |
| Current liabilities | 776 | 612 | 568 | 512 | 494 |
| Short-term debt | 42.7 | 2.9 | 42.9 | 4.1 | 0.9 |
| Long-term debt | 278 | 275 | 234 | 230 | 229 |
| Total liabilities | 1,229 | 1,068 | 968 | 901 | 934 |
| Shareholders' equity | 1,979 | 2,564 | 3,000 | 3,224 | 3,062 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 512 | 832 | 960 | 643 | 546 |
| Capital expenditure | 151 | 174 | 180 | 232 | 269 |
| Free cash flow | 361 | 657 | 780 | 410 | 276 |
| Depreciation & amortisation | 84.2 | 94.1 | 111 | 125 | 138 |
| Stock-based compensation | 11.2 | 28.2 | 34.9 | 38.2 | 37.8 |
| Share buybacks | – | 95.8 | 82.1 | 141 | 433 |
| Dividends paid | 40.2 | 58.9 | 68.2 | 80.8 | 82.4 |
| Dividend per share | 0.65 | 0.95 | 1.10 | 1.32 | 1.40 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 11.5% | −25.0% | −7.8% | −5.0% |
| Operating income growth (YoY) | – | 28.8% | −32.0% | −23.9% | −26.1% |
| EPS growth (YoY) | – | 27.7% | −26.4% | −16.1% | −26.1% |
| Gross margin | 16.3% | 18.6% | 19.7% | 18.4% | 16.8% |
| Operating margin | 8.5% | 9.9% | 9.0% | 7.4% | 5.8% |
| Net margin | 6.2% | 7.2% | 7.1% | 6.2% | 4.7% |
| Return on equityBlank when equity is negative | 27.1% | 27.0% | 17.1% | 12.9% | 9.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 29.9% | 31.0% | 18.7% | 13.5% | 10.3% |
| Free cash flow margin | 4.2% | 6.8% | 10.8% | 6.2% | 4.4% |
| Cash conversion (CFO ÷ net income) | 0.96x | 1.20x | 1.87x | 1.55x | 1.85x |
| Receivable days | 31 | 23 | 28 | 27 | 27 |
| Inventory days | 49 | 45 | 46 | 48 | 50 |
| Payable days | 16 | 10 | 13 | 15 | 14 |
| Interest cover | 53.4x | 68.3x | 50.3x | 38.7x | 33.3x |
| Debt ÷ equity | 0.16x | 0.11x | 0.09x | 0.07x | 0.08x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 33.6 | −281 | −842 | −938 | −684 |
| Current ratio | 2.67x | 3.70x | 4.41x | 4.88x | 4.59x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.