TopBuild Corp. Q1 FY26 Results — Earnings Call Analysis
Published 30 May 2026 | Household Durables | Market Cap: ₹11.8K Cr
- 2026 guidance projects sales of $5.925B to $6.225B, midpoint $6.075B. - TopBuild expects sales in 2026 between $5.925 billion and $6.225 billion, with adjusted EBITDA ranging from $1.005 billion to $1.155 billion.
From TopBuild Corp.'s Q1 FY26 earnings-call transcript · updated 30 May 2026.
Price
₹420.68
Market Cap
₹11.8K Cr
P/E Ratio
23.3
Revenue Rank
Margin Rank
How does TopBuild Corp. rank in Household Durables?
Compare TopBuild Corp. against every Household Durables company this quarter on revenue, margins and earnings-call signals.
📊 Revenue & Sales Performance
Rank 4- →2026 guidance projects sales of $5.925B to $6.225B, midpoint $6.075B.
- →Volume and price expected to be down low-single digits overall in 2026.
- →Residential sales (~52% of total) expected down mid-single digits in volume and price.
- →Commercial and industrial sales (~48% of total) expected to grow low single digits in volume and price.
- →M&A activities expected to contribute $800M-$850M revenue in 2026.
- →Commercial and industrial segment shows solid bidding and backlog, poised for growth especially in verticals like education, healthcare, manufacturing, food and beverage, data centers, and commercial roofing.
- →Growth in commercial roofing anticipated, supported by acquisitions (e.g., Johnson Roofing) and expanding backlog.
- →Synergies from acquisitions (SPI, Progressive) expected to drive margin and bottom-line upside.
- →Overall, cautious optimism with near-term uncertainty but confident in long-term fundamentals and market opportunities.
📈 Profitability & Margins
Rank 4- →TopBuild expects sales in 2026 between $5.925 billion and $6.225 billion, with adjusted EBITDA ranging from $1.005 billion to $1.155 billion.
- →The midpoint adjusted EBITDA of $1.08 billion assumes a 27% EBITDA decremental on lower volumes and $55 million of price/cost headwinds.
- →EBITDA margin on M&A is projected in the mid-teens, including $15 million in synergies from acquisitions (Progressive and SPI).
- →Management is highly confident in delivering synergy targets at or above initial projections.
- →Quarterly EBITDA margins are expected to range from 16.5% (weakest in Q1) to 18.5% (strongest in Q3).
- →Long-term growth driven by a $95 billion total addressable market, balanced between residential and commercial/industrial segments.
- →Continued focus on operational excellence, cost controls, and M&A pipeline support profitable growth and shareholder returns.
🏗️ Capital Expenditure Plans
Yes- →**2026 CapEx Guidance:** Expected to be between 1% and 2% of sales.
- →**M&A Activity:**
- → - Active and robust M&A pipeline; closed acquisitions recently including Applied Coatings, Upstate Spray Foam, and Johnson Roofing.
- → - $1.9 billion deployed for acquisitions in 2025, adding about $1.2 billion in annual revenue.
- →**Strategic Investments:**
- → - Investing in digital resources to enhance cross-selling and streamline internal processes post-SPI acquisition.
- → - Focus on technology platform integration, with SPI IT integration expected by end of Q2 2026.
- →**Operational Excellence:** Ongoing investments in technology and automations to improve efficiency and cost structure across the network.
- →**Commercial Roofing Growth:** Expansion through acquisitions like Johnson Roofing to grow presence in commercial roofing in key regional markets.
💰 Fundraising & Capital Structure
No information- →No explicit mention of new fundraising through debt or equity in the provided transcript excerpt.
- →The company has expanded credit facilities, including issuing $750 million bonds due in 2034 as of Q4 2025.
- →Total liquidity at the end of 2025 stood at $1.1 billion, with $185 million cash and $934 million revolver availability.
- →There is no indication of plans for new debt or equity issuance in 2026.
- →The focus remains on disciplined capital allocation, including ongoing M&A activity and share repurchases ($434 million returned to shareholders in 2025).
- →No announcements or guidance suggest additional fundraising through debt or equity in the near future.
📋 Order Book & Pipeline
YesKey Metrics
Revenue
Margin
Capex
Fundraise
Order Book
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Frequently Asked Questions
What were TopBuild Corp. Q1 FY26 results?
- 2026 guidance projects sales of $5.925B to $6.225B, midpoint $6.075B. - TopBuild expects sales in 2026 between $5.925 billion and $6.225 billion, with adjusted EBITDA ranging from $1.005 billion to $1.155 billion.
What is TopBuild Corp. share price analysis?
TopBuild Corp. currently shows a neutral. The stock trades at a P/E of 23.3 with a market cap of $11,839. Investors should review the full earnings analysis for detailed insights.
Is TopBuild Corp. planning capital expenditure?
- **2026 CapEx Guidance:** Expected to be between 1% and 2% of sales.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.