One-glance verdict
Within fair range
$77.44 our estimate vs market $107.26
Wall Street consensus: $160.73 (107.6% higher than our fair-value estimate)
39% above our estimate
Fundamentals snapshot
SiteOne Landscape Supply, Inc.
SITE · NYQ · Industrials · Industrial Distribution
Current price
$107.26
52-week range
$100.52 - $168.56
Market cap
$4.75B
Balance sheet
Watch
6.80x Adequate
Net debt $1.05B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 0.0% last year.
- Reward Returns 10.0% on equity, ahead of 40% of its peers.
- Risk Net debt grew 11.1% over 3 years.
- Risk Operating margin compressed from 8.3% to -2.8% over 3 years.
What this company does
SiteOne Landscape Supply, Inc.
SiteOne Landscape Supply is a one-stop-shop for professional landscapers, selling everything from fertilizer and sprinkler systems to stone pavers and trees. The company makes money by acting as a key part of the landscaping supply chain (the system for making and delivering goods), buying products in bulk and selling them to the businesses that maintain lawns, gardens, and golf courses. This matters because its sales are often tied to the health of the housing and commercial real estate markets, which influences how much is spent on property upkeep.
How the company got here
SiteOne started in 2001 as John Deere Landscapes, a division of the well-known equipment company. A big change came in 2013 when a private investment firm, Clayton, Dubilier & Rice, bought a majority of the business, making it a standalone company. It was renamed SiteOne Landscape Supply in 2015 to establish its own identity. In 2016, SiteOne became a public company, trading on the New York Stock Exchange, which allowed it to raise money to grow even more. A key part of its growth has been buying smaller, independent distributors to expand its reach and product offerings across North America.
What it actually does
SiteOne is a wholesale distributor, which means it buys landscape supplies in large quantities from manufacturers and sells them to professionals like landscapers, not directly to the general public. Think of it as a one-stop shop for businesses that design, install, and take care of lawns, gardens, golf courses, and other outdoor areas. They have a huge network of over 690 stores across the U.S. and Canada where these professionals can pick up everything they need. Besides selling products, SiteOne also offers helpful services like project planning assistance and business management advice to their customers.
Landscaping Products
This is the company's largest business area, making up the majority of its sales. It includes a wide variety of products that landscape professionals use for installation and maintenance projects. You'll find things like irrigation systems (sprinkler heads, pipes, and controllers), hardscapes (pavers, stones, and blocks for patios and walkways), outdoor lighting, and nursery goods (trees, shrubs, and plants). Professionals who are building a new backyard, installing a sprinkler system, or maintaining a commercial property would buy these products from SiteOne.
Agronomic and Other Products
This part of the business focuses on products that help maintain the health and appearance of lawns and gardens. It includes items like fertilizer, grass seed, and control products such as herbicides (to manage weeds) and pesticides. This segment is crucial for landscape professionals who provide recurring maintenance services for residential and commercial properties. While smaller than the landscaping products segment, it provides a steady stream of revenue as these products are used and repurchased regularly throughout the seasons.
What management is betting on now
A major focus for SiteOne's management is to continue acquiring smaller, independent landscape supply distributors. This 'roll-up' strategy allows them to enter new markets and increase their density in existing ones, making them more convenient for customers. They are also working on increasing the sale of their own private and exclusive brand products, which typically have better profit margins (the amount of profit made on each sale). Additionally, SiteOne is investing in technology and e-commerce to make it easier for their professional customers to order supplies online. Management also aims to gain a larger share of their existing customers' spending by encouraging them to buy across multiple product categories.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$135.30M
FY2024 Q3
$105.90M
FY2024 Q4
$109.90M
FY2025 Q1
$-144.40M
FY2025 Q2
$122.40M
FY2025 Q3
$118.50M
FY2025 Q4
$150.30M
FY2026 Q1
$-145.10M
Revenue
$940.10M
Net income
$-26.60M
Diluted EPS
-0.60
Operating cash flow
$-122.10M
Free cash flow
$-145.10M
Fetching…
Sources
Revenue
$1.05B
Net income
$-9.00M
Diluted EPS
-0.19
Operating cash flow
$164.80M
Free cash flow
$150.30M
Fetching…
Sources
Revenue
$1.26B
Net income
$59.10M
Diluted EPS
1.31
Operating cash flow
$128.60M
Free cash flow
$118.50M
Fetching…
Sources
Revenue
$1.46B
Net income
$129.00M
Diluted EPS
2.86
Operating cash flow
$136.70M
Free cash flow
$122.40M
Fetching…
Sources
Revenue
$939.40M
Net income
$-27.30M
Diluted EPS
-0.61
Operating cash flow
$-129.60M
Free cash flow
$-144.40M
Fetching…
Sources
Revenue
$1.01B
Net income
$-21.70M
Diluted EPS
-0.46
Operating cash flow
$119.40M
Free cash flow
$109.90M
Fetching…
Sources
Revenue
$1.21B
Net income
$44.40M
Diluted EPS
0.97
Operating cash flow
$115.90M
Free cash flow
$105.90M
Fetching…
Sources
Revenue
$1.41B
Net income
$120.20M
Diluted EPS
2.63
Operating cash flow
$147.40M
Free cash flow
$135.30M
Fetching…
Sources
Is it cheap or expensive?
Fair value $77.44 vs current price $107.26
Wall Street consensus is the average analyst price target: $160.73 (107.6% higher than our fair-value estimate).
Our most-likely fair value is $77.44 a share — about 27.8% away from today's price of $107.26, so the stock currently looks fairly priced.
Is it drowning in debt?
Watch
Net debt $1.0B. Interest coverage 6.8x.
Net debt
$1.05B
Interest coverage
6.80x
SiteOne Landscape Supply, Inc.'s profit covers its interest bill about 6.8 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
SITE
BASELINE
SiteOne Landscape Supply, Inc.
Total debt $1.13B Interest coverage 6.80x This is the baseline the peer rows are being compared against.
Total debt $1.59B Interest coverage 12.41x +82% vs SITE Carries about 1.8x more debt cushion than SITE.
Total debt $362.92M Interest coverage 33.62x +394% vs SITE Carries about 4.9x more debt cushion than SITE.
Total debt $2.45B Interest coverage 6.02x -12% vs SITE Has roughly the same debt cushion as SITE.
Total debt $5.29B Interest coverage 2.87x -58% vs SITE Carries about 2.4x less debt cushion than SITE.
What you should know
The case for and against SITE
3 Rewards
3 Risks
Rewards
-
Revenue grew 0.0% last year.
-
Returns 10.0% on equity, ahead of 40% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Net debt grew 11.1% over 3 years.
-
Operating margin compressed from 8.3% to -2.8% over 3 years.
-
Insider ownership is only 1.8% (peer median: 2.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
31.73x
Forward P/E
19.88x
P/B
2.93x
P/S
1.01x
EV/EBITDA
15.47x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
34.9%
Operating margin
-2.8%
Net margin
3.2%
ROE
10.0%
ROA
4.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.69x
Current ratio
2.33x
Quick ratio
0.86x
Total debt
$1.13B
Total cash
$84.00M
Growth
How the business has been compounding
Revenue TTM
$4.71B
Revenue 5Y CAGR
7.9%
EPS TTM
3.38
EPS 5Y CAGR
-14.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$308.00M
Free CF TTM
$246.80M
FCF margin
5.2%
Dividend
Shareholder payout
Yield
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Payout ratio
0.0%
Last ex-div date
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