UFP INDUSTRIES INC

Listed Company

UFPICIK 0000912767NasdaqLarge AcceleratedSawmills & Planting Mills, GeneralMichiganFY ends Dec 27

Period

FY 2025

Revenue

—

Net Income

$294.79M

Total Assets

$4.02B

Equity

$3.06B

Shares Out

56.59M

Op. Cash Flow

$545.74M

Business

UFP INDUSTRIES INC is a holding company whose subsidiaries design, manufacture and supply products made from wood, wood and non-wood composites, and other materials to retail, packaging and construction markets. The company offers pressure-treated lumber, composite and mineral-based decking, exterior siding and trim, structural and protective packaging, pallets, custom engineered wood components, factory-built housing products, commercial millwork and concrete forming systems. Its operations are organized into UFP Retail Solutions, UFP Packaging, UFP Construction, an International reporting group and a Corporate segment. Products are sold through big-box and regional home improvement retailers, distributors, direct industrial and construction customers, and international subsidiaries and sales offices.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	6,320	6,652	7,218	9,627	8,636
Cost of sales	5,260	5,426	5,799	7,837	7,229
Gross profit	1,060	1,227	1,419	1,789	1,407
Selling, general and administrative expenses	691	735	767	832	682
Net loss (gain) on disposition and impairments of assets	3	6	−260,000	6	—
Other losses (gains), net	2	−7	6	2	−13
Total operating expenses	696	735	772	—	—
Earnings from operations	364	492	647	950	738
Interest expense	11	13	13	14	—
Interest and investment income	−39	−61	−40	−725,000	−6
Equity in (earnings) loss of investee	−709,000	−89,000	2	2	4
Total interest and other	−28	−48	−25	15	11
Earnings before income taxes	392	540	671	935	726
Income taxes	96	121	157	230	174
Net earnings	296	419	514	705	552
Less net earnings attributable to noncontrolling interest	−1	−4	−145,000	−12	−17
Net earnings attributable to controlling interest	295	415	514	693	536
Earnings per share - basic (USD per share)	5	6.78	8.21	11.05	8.61
Earnings per share - diluted (USD per share)	5	6.77	8.07	10.97	8.59
Other comprehensive income (loss)	19	−20	15	−2	−5
Comprehensive income	315	399	529	702	547
Less comprehensive income attributable to noncontrolling interest	−4	−610,000	−5	−13	−15
Comprehensive income attributable to controlling interest	312	398	524	689	532

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	914	1,172	1,118	559	287
Restricted cash	11	8	4	—	5
Investments	34	31	35	36	36
Accounts receivable, net	476	501	549	618	738
Raw materials	380	388	353	399	416
Finished goods	342	332	375	574	547
Total inventories	722	721	728	973	963
Refundable income taxes	38	21	29	33	5
Assets held for sale	6	—	—	—	—
Other current assets	67	50	38	43	40
Total current assets	2,269	2,503	2,502	2,262	2,073
Deferred income taxes	8	5	4	4	3
Restricted investments	51	39	25	20	19
Right of use assets	116	115	104	108	97
Other assets	102	98	87	101	32
Goodwill	344	340	336	337	315
Indefinite-lived intangible assets	7	7	7	7	7
Other intangible assets, net	134	152	175	144	109
Property, plant and equipment	1,936	1,750	1,559	1,380	1,212
Less accumulated depreciation and amortization	−944	−859	−783	−691	−623
Property, plant and equipment, net	993	891	777	689	589
Total assets	4,023	4,151	4,018	3,672	3,245
Accounts payable	206	225	203	207	319
Accrued compensation and benefits	188	193	232	296	289
Other accrued liabilities	71	62	67	80	85
Current portion of lease liability	28	28	23	26	23
Current portion of long-term debt	899,000	4	43	3	43
Total current liabilities	494	512	568	612	776
Long-term debt and finance lease obligations	229	230	234	275	278
Lease liability	99	95	85	85	77
Deferred income taxes	83	31	45	51	61
Other liabilities	29	32	36	45	37
Total liabilities	934	901	968	1,068	1,229
Redeemable noncontrolling interest	4	5	20	7	—
Preferred stock, no par value; shares authorized 1,000,000; issued and outstanding, none	—	—	—	—	—
Common stock, $1 par value; shares authorized 240,000,000; issued and outstanding, 56,591,900 and 60,724,308	57	61	62	62	62
Additional paid-in capital	445	403	355	294	244
Retained earnings	2,559	2,775	2,582	2,217	1,678
Accumulated other comprehensive income (loss)	2	−15	1	−9	−5
Total controlling interest shareholders' equity	3,062	3,224	3,000	2,564	1,979
Noncontrolling interest	22	21	30	33	38
Total shareholders' equity	3,084	3,245	3,030	2,597	2,017
Total liabilities, temporary equity and shareholders' equity	4,023	4,151	4,018	3,672	3,245

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	138	125	111	94	84
Amortization of intangibles	23	24	21	20	14
Expense associated with share-based and grant compensation arrangements	38	38	35	28	11
Deferred income taxes	50	−15	−6	−16	6
Unrealized gain on investments and other	−2	−1	−2	6	−4
Impairment of investments	7	—	—	—	—
Net loss (gain) loss on sale, disposition and impairment of assets	728,000	678,000	−260,000	1	−12
Impairment of goodwill and other intangibles	2	5	—	4	—
Gain from reduction of estimated earnout liability	−2	−2	−3	—	—
Accounts receivable	27	47	82	131	−85
Inventories	7	6	251	718,000	−260
Accounts payable and cash overdraft	−20	22	−4	−138	78
Accrued liabilities and other	−18	−25	−41	−6	125
Net cash from operating activities	546	643	960	832	512
Capital expenditures	−269	−232	−180	−174	−151
Proceeds from sale of property, plant and equipment	31	12	3	4	30
Acquisitions and purchases of noncontrolling interest, net of cash received	−18	−30	−52	—	—
Purchases of investments	−39	−55	−30	−20	−24
Proceeds from sale of investments	20	31	30	13	15
Other	1	4	−11	4	−5
Net cash used in investing activities	−273	−271	−240	−354	−611
Borrowings under revolving credit facilities	34	30	28	605	892
Repayments under revolving credit facilities	−38	−32	−30	−608	−889
Repayments of debt	—	−40	−29,000	−39	—
Repayment of debt on behalf of investee	—	−6	—	—	—
Contingent consideration payments and other	−221,000	−5	−6	−3	−3
Proceeds from issuance of common stock	2	3	3	3	2
Dividends paid to shareholders	−82	−81	−68	−59	—
Distributions to noncontrolling interest	−3	−12	−7	−12	−7
Purchase of remaining noncontrolling interest of subsidiary	−549,000	−5	—	—	—
Payments to taxing authorities in connection with shares directly withheld from employees	−10	−18	—	—	—
Repurchase of common stock	−433	−141	−82	−96	—
Other	−163,000	73,000	86,000	−2	−364,000
Net cash used in financing activities	−530	−307	−163	−210	−45
Effect of exchange rate changes on cash	3	−7	6	979,000	−2
Net change in cash and cash equivalents	−255	57	563	268	−145

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