Detailed financial statements for SiteOne Landscape Supply, Inc. (SITE): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
SiteOne Landscape Supply, Inc. operates as a leading wholesale distributor of landscaping provisions throughout the United States and Canada. The company maintains an expansive inventory of approximately 135,000 distinct stock keeping units.
Analysis Summary
SiteOne Landscape Supply, Inc. reported revenue of $4.70B in the most recent fiscal year, growing at a 5-year CAGR of 11.7%. Net income reached $151.8M, with a 4.6% 5-year CAGR.
Trailing-twelve-month margins: gross margin 35.1%, operating margin 5.3%, net margin 3.4%. Free cash flow grew at 3.9% CAGR over 5 years.
At the current price of $90.15, SITE trades at a P/E of 23.95 and an ROE of 9.76%. Market capitalisation stands at $3.9B.
Balance sheet quality for SITE: current ratio of 2.5, net debt of $789.4M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $246.8M represents 163% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.65B | $1.86B | $2.11B | $2.36B | $2.70B | $3.48B | $4.01B | $4.30B | $4.54B | $4.70B |
| Cost of Revenue | $1.13B | $1.27B | $1.43B | $1.58B | $1.80B | $2.26B | $2.59B | $2.81B | $2.98B | $3.07B |
| Gross Profit | $515.7M | $595.5M | $678.1M | $773.2M | $901.3M | $1.21B | $1.42B | $1.49B | $1.56B | $1.64B |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $446.5M | $502.2M | $578.8M | $654.3M | $728.2M | $900.6M | $1.10B | $1.26B | $1.39B | $1.28B |
| Operating Expenses | $441.7M | $497.7M | $570.8M | $648.3M | $721.5M | $898.9M | $1.09B | $1.24B | $1.37B | $1.40B |
| Operating Income | $74.0M | $97.8M | $107.3M | $124.9M | $179.8M | $313.7M | $333.1M | $250.3M | $192.3M | $238.1M |
| EBITDA | $111.0M | $140.9M | $159.6M | $184.4M | $247.0M | $396.7M | $436.9M | $378.0M | $331.3M | $378.9M |
| Interest Expense | $22.1M | $25.2M | $32.1M | $33.4M | $31.0M | $19.2M | $20.0M | $27.1M | $31.9M | $35.0M |
| Pre-tax Income | $51.9M | $72.6M | $75.2M | $91.5M | $148.8M | $294.5M | $313.1M | $223.2M | $160.4M | $203.1M |
| Income Tax | $21.3M | $18.0M | $1.3M | $13.8M | $27.5M | $56.1M | $67.7M | $49.8M | $36.0M | $45.7M |
| Net Income | $30.6M | $54.6M | $73.9M | $77.7M | $121.3M | $238.4M | $245.4M | $173.4M | $123.6M | $151.8M |
| EPS | $-3.01 | $1.37 | $1.73 | $1.89 | $2.83 | $5.35 | $5.45 | $3.84 | $2.73 | $3.39 |
| EPS (Diluted) | $-3.01 | $1.29 | $1.73 | $1.82 | $2.75 | $5.20 | $5.36 | $3.80 | $2.71 | $3.37 |
| Shares Outstanding (Diluted) | $30.3M | $42.2M | $42.6M | $42.8M | $44.1M | $45.8M | $45.8M | $45.7M | $45.6M | $45.1M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $1.26B | $1.05B | $940.1M | $1.53B |
| Gross Profit | $437.2M | $356.8M | $318.8M | $564.5M |
| Operating Income | $85.2M | -$5.0M | -$25.9M | $197.6M |
| EBITDA | $120.6M | $29.7M | $9.2M | $232.7M |
| Net Income | $59.1M | -$9.0M | -$26.6M | $139.3M |
| EPS | $1.32 | $-0.20 | $-0.60 | $3.14 |
| EPS (Diluted) | $1.31 | $-0.20 | $-0.60 | $3.13 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16.3M | $16.7M | $17.3M | $19.0M | $55.2M | $53.7M | $29.1M | $82.5M | $107.1M | $190.6M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $170.6M | $222.6M | $295.3M | $290.4M | $299.6M | $397.1M | $466.4M | $490.6M | $559.4M | $546.8M |
| Inventory | $289.6M | $338.3M | $411.7M | $427.1M | $458.6M | $636.6M | $767.7M | $771.2M | $827.2M | $876.5M |
| Total Current Assets | $490.0M | $601.9M | $765.4M | $765.8M | $851.6M | $1.13B | $1.32B | $1.41B | $1.55B | $1.70B |
| Property, Plant & Equipment | $69.8M | $75.5M | $88.4M | $335.9M | $386.5M | $450.0M | $510.4M | $638.3M | $707.4M | $749.6M |
| Goodwill | $70.8M | $106.5M | $148.4M | $181.3M | $250.6M | $311.1M | $411.9M | $485.5M | $518.1M | $530.4M |
| Intangible Assets | $103.3M | $112.8M | $155.6M | $150.6M | $196.3M | $213.9M | $276.0M | $280.8M | $261.0M | $220.0M |
| Total Assets | $742.6M | $910.7M | $1.17B | $1.44B | $1.70B | $2.12B | $2.53B | $2.83B | $3.07B | $3.22B |
| Accounts Payable | $108.3M | $124.1M | $184.6M | $162.2M | $172.8M | $254.5M | $279.7M | $270.8M | $315.5M | $310.8M |
| Short-term Debt | $3.0M | $3.5M | $4.5M | $4.5M | $2.8M | $4.0M | $4.0M | $5.3M | $4.3M | $3.9M |
| Total Current Liabilities | $185.5M | $205.8M | $282.4M | $310.8M | $368.6M | $512.9M | $559.8M | $578.3M | $640.8M | $686.8M |
| Long-term Debt | $372.5M | $460.1M | $553.7M | $520.4M | $260.7M | $251.2M | $346.6M | $367.6M | $383.9M | $381.5M |
| Total Liabilities | $593.8M | $697.9M | $866.7M | $1.05B | $900.7M | $1.06B | $1.23B | $1.34B | $1.48B | $1.54B |
| Retained Earnings | -$69.7M | -$15.1M | $60.1M | $137.8M | $259.1M | $497.5M | $742.9M | $916.3M | $1.04B | $1.19B |
| Total Equity | $148.8M | $212.8M | $301.8M | $393.2M | $795.0M | $1.06B | $1.30B | $1.49B | $1.57B | $1.66B |
| Total Debt | $386.5M | $475.3M | $572.9M | $782.7M | $568.0M | $606.9M | $739.5M | $861.4M | $951.3M | $980.0M |
| Net Debt | $370.2M | $458.6M | $555.6M | $763.7M | $512.8M | $553.2M | $710.4M | $778.9M | $844.2M | $789.4M |
| Working Capital | $304.5M | $396.1M | $483.0M | $455.0M | $483.0M | $615.9M | $759.5M | $827.0M | $908.8M | $1.01B |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $30.6M | $54.6M | $73.9M | $77.7M | $121.3M | $238.4M | $245.4M | $173.4M | $124.4M | $151.8M |
| Depreciation & Amortization | $37.0M | $43.1M | $52.3M | $59.5M | $67.2M | $83.0M | $103.8M | $127.7M | $139.0M | $140.8M |
| Stock-based Compensation | $4.7M | $5.9M | $7.9M | $11.7M | $10.6M | $14.3M | $18.3M | $25.7M | $25.0M | 0 |
| Change in Working Capital | $6.6M | -$74.6M | -$51.7M | -$18.3M | $22.5M | -$131.3M | -$148.3M | -$9.9M | $1.5M | -$26.4M |
| Operating Cash Flow | $72.9M | $16.3M | $78.1M | $130.8M | $229.4M | $210.8M | $217.2M | $297.5M | $283.4M | $300.5M |
| Capital Expenditure | -$8.8M | -$16.0M | -$19.9M | -$21.4M | -$25.8M | -$37.0M | -$41.7M | -$36.0M | -$44.8M | -$53.7M |
| Acquisitions | -$66.4M | -$82.9M | -$147.7M | -$71.5M | -$159.4M | -$147.2M | -$244.9M | -$192.7M | -$138.2M | -$37.9M |
| Stock Repurchased | -$200,000 | 0 | 0 | 0 | 0 | 0 | -$24.4M | -$12.0M | -$51.3M | -$98.3M |
| Dividends Paid | -$189.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | $64.1M | $300,000 | $58.2M | $109.4M | $203.6M | $173.8M | $175.5M | $261.5M | $238.6M | $246.8M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +13.0% | +13.5% | +11.6% | +14.7% | +28.5% | +15.5% | +7.1% | +5.6% | +3.6% | |
| Net Income Growth (YoY) | +78.4% | +35.3% | +5.1% | +56.1% | +96.5% | +2.9% | -29.3% | -28.7% | +22.8% | |
| EPS Growth (YoY) | +145.5% | +26.3% | +9.2% | +49.7% | +89.0% | +1.9% | -29.5% | -28.9% | +24.2% | |
| Shares Change (YoY) | +39.2% | +1.0% | +0.3% | +3.1% | +3.9% | -0.1% | -0.2% | -0.1% | -1.2% | |
| FCF Growth (YoY) | -99.5% | +19,300.0% | +88.0% | +86.1% | -14.6% | +1.0% | +49.0% | -8.8% | +3.4% | |
| Gross Margin | 31.3% | 32.0% | 32.1% | 32.8% | 33.3% | 34.9% | 35.4% | 34.7% | 34.4% | 34.8% |
| Operating Margin | 4.5% | 5.3% | 5.1% | 5.3% | 6.6% | 9.0% | 8.3% | 5.8% | 4.2% | 5.1% |
| EBITDA Margin | 6.7% | 7.6% | 7.6% | 7.8% | 9.1% | 11.4% | 10.9% | 8.8% | 7.3% | 8.1% |
| Net Margin | 1.9% | 2.9% | 3.5% | 3.3% | 4.5% | 6.9% | 6.1% | 4.0% | 2.7% | 3.2% |
| FCF Margin | 3.9% | 0.0% | 2.8% | 4.6% | 7.5% | 5.0% | 4.4% | 6.1% | 5.3% | 5.2% |
| Effective Tax Rate | 41.0% | 24.8% | 1.7% | 15.1% | 18.5% | 19.0% | 21.6% | 22.3% | 22.4% | 22.5% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $2.11 | $0.01 | $1.37 | $2.56 | $4.62 | $3.79 | $3.83 | $5.72 | $5.23 | $5.47 |
| Dividends Per Share | $6.23 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $30.3M | $39.8M | $42.6M | $41.2M | $42.9M | $44.6M | $45.0M | $45.1M | $45.2M | $44.8M |
What to look at in Industrials
Aerospace, defence, machinery, transport. Semi-cyclical. Key: backlog, operating margins, and FCF conversion.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — The best indicator of operational discipline in industrials
- ROIC — Quality industrials have ROIC >15% — the rest destroy capital
- FCF conversion — FCF / Net Income — in industrials good >85%
- Net debt / EBITDA — Cyclical industrials with high debt suffer hard in recessions
- Capex / Revenue — Maintaining the machinery. <4% = possible underinvestment (future decline)
- Altman Z-Score — Bankruptcy model (NYU 1968) — combines liquidity, leverage and profitability. Key in cyclicals
Profitability
| Return on Equity | 9.76% |
| Return on Invested Capital | 7.00% |
| Return on Assets | 4.62% |
| Gross Margin | 35.13% |
| Operating Margin | 5.28% |
| Net Margin | 3.41% |
Financial Health
| Debt / Equity | 0.06 |
| Current Ratio | 2.30 |
| Piotroski F-Score | 9 |
| Altman Z-Score | 4.82 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -11.54 | 55.99 | 31.95 | 47.96 | 56.05 | 45.29 | 21.53 | 42.32 | 48.10 | 37.32 |
| P/B | 7.08 | 14.33 | 7.81 | 9.50 | 8.55 | 10.21 | 4.06 | 4.93 | 3.78 | 3.42 |
| P/S | 0.64 | 1.64 | 1.12 | 1.58 | 2.51 | 3.11 | 1.32 | 1.70 | 1.31 | 1.21 |
| Gross Margin | 31.3% | 32.0% | 32.1% | 32.8% | 33.3% | 34.9% | 35.4% | 34.7% | 34.4% | 34.8% |
| Operating Margin | 4.5% | 5.3% | 5.1% | 5.3% | 6.6% | 9.0% | 8.3% | 5.8% | 4.2% | 5.1% |
| Net Margin | 1.9% | 2.9% | 3.5% | 3.3% | 4.5% | 6.9% | 6.1% | 4.0% | 2.7% | 3.2% |
Related companies: ACA · FCN · GATX · GTES · KBR · KEX · MSM
Explore sector: Industrials · Industrial - Distribution
More sections of SITE: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Investment Academy — learn to analyze stocks