BOISE CASCADE Co (BCC) stock analysis
Close on Nov 11, 2026Market cap $2.43BP/E 20.4Yield 1.24%
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed12 of 30 checks passed
Boise Cascade passes 12 of the 30 checks behind our score; 2 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 2/6
- Growth
- 1/6
- Past performance
- 0/6
- Financial health
- 6/6
- Dividend
- 3/6
What stands out
Trading below fair value
The share price of $69.52 is below our fair value estimate of $77.67.
Low debt
Debt is 21.9% of shareholders' equity, under the 40% we consider low.
Interest well covered
Operating income covers interest expense 7.0 times.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 61.8% of total debt.
What to watch
Margin of safety under 20%
The price is 10.5% below fair value, less than the 20% cushion we look for.
Return on equity under 15%
Return on equity was 5.7% over the last twelve months and averaged 24.2% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 6.3%, below the 10% that usually covers the cost of capital.
Revenue growing under 10% a year
Revenue grew -8.6% a year over the last three fiscal years, short of the 10% we look for.
Valuation2/6
P/E above its 5-year median
Boise Cascade's P/E of 20.4 is above its own 5-year median of 10.4.
P/E above the industry
Boise Cascade's P/E of 20.4 is above the Wholesale Trade-durable Goods median of 20.3.
EV/EBITDA above its 5-year median
Boise Cascade's EV/EBITDA of 7.1 is above its 5-year median of 5.6.
P/B below the industry
Boise Cascade's price-to-book of 1.18 is below the Wholesale Trade-durable Goods median of 2.15.
Trading below fair value
The share price of $69.52 is below our fair value estimate of $77.67.
Margin of safety under 20%
The price is 10.5% below fair value, less than the 20% cushion we look for.
Growth1/6
Revenue growing under 10% a year
Revenue grew -8.6% a year over the last three fiscal years, short of the 10% we look for.
EPS growing under 10% a year
Diluted EPS grew -45.3% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 1.2% over the last twelve months; the Wholesale Trade-durable Goods median is 8.4%.
Guidance raised
Boise Cascade raised its Third Quarter 2026 Total Company Adjusted EBITDA outlook on Aug 3, 2026.
Gross margin slipping
Gross margin was 16.7% over the last twelve months, against 17.2% a year earlier.
Past performance0/6
Return on equity under 15%
Return on equity was 5.7% over the last twelve months and averaged 24.2% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 6.3%, below the 10% that usually covers the cost of capital.
Return on equity below the industry
Boise Cascade's return on equity of 5.7% is below the Wholesale Trade-durable Goods median of 7.6%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin below its 5-year average
Net margin was 1.8% over the last twelve months, against a 5-year average of 6.2%.
Net margin below the industry
Boise Cascade's net margin of 1.8% is below the Wholesale Trade-durable Goods median of 1.9%.
Financial health6/6
Low debt
Debt is 21.9% of shareholders' equity, under the 40% we consider low.
Debt falling against equity
Debt to equity fell from 52.2% five years ago to 21.9%.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 61.8% of total debt.
Interest well covered
Operating income covers interest expense 7.0 times.
Short-term assets cover short-term debts
Current assets are 2.82 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 4.20; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
Boise Cascade paid dividends worth 1.3% of the share price over the last twelve months.
Yield below Treasuries
The 1.3% yield is below the 4.4% on a 1-year Treasury.
Yield below the top quarter
The top quarter of US dividend payers yield 3.8% or more; Boise Cascade yields 1.3%.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 10 fiscal years.
Covered by earnings
Dividends take 28.4% of net income.
Covered by free cash flow
Dividends take 25.7% of free cash flow.
Fair value
How we estimate itOur estimate per share
$77.67
The share price is 10% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 15.3× | 10.4× | 20.3× | $52.23 | 40% |
| EV/EBITDA | 9.2× | 5.6× | 12.9× | $90.52 | 35% |
| P/B | 1.9× | 1.7× | 2.1× | $112.20 | 10% |
| Earnings power | 9.8% cost of equity | – | – | $92.46 | 15% |
| Fair value | $77.67 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 10.4
- Wholesale Trade-durable Goods median 20.3
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $27.55M
- Value traded per 1% price move
- $14.98M
Downside
Medium risk
- Typical loss in a bad month
- 19.9%
- Volatility (annualized)
- 40%
- Sharpe ratio, 1 year
- -0.12
- Beta to the S&P 500 (5Y)
- 0.98
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -4.8% | -8.6% | +3.2% | +5.8% | |
| Gross profit | -20.8% | -18.0% | +2.3% | – | |
| Operating income | -62.6% | -45.9% | -11.4% | +5.9% | |
| Net income | -64.7% | -46.3% | – | – | |
| EPS, diluted | -63.1% | -45.3% | -4.5% | +10.3% | |
| Free cash flow | -93.9% | -76.1% | -43.2% | – | |
| Dividend per share | -85.2% | -40.1% | -15.5% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 6.3% | |
| Return on assets | – | – | 4.0% | |
| Current ratio | 2.43 | 2.50 | 3.36 | |
| Debt to equity | 0.75 | 0.52 | 0.21 | |
| Net debt to EBITDA | 2.12× | 0.09× | -0.09× | |
| Interest coverage | 3.2× | 12.8× | 8.4× | |
| Inventory turnover | – | 9.1× | 6.7× | |
| Capex to revenue | 2.1% | 1.5% | 3.8% | |
| Diluted shares | 39M | 39M | 38M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Boise Cascade generated $3.09B from operations and spent $2.27B on capital expenditure, dividends and share buybacks. 40% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 2.1% | 1.94× | 1.56× | 6.3% |
| FY2024 | 5.6% | 1.97× | 1.57× | 17.3% |
| FY2023 | 7.1% | 2.04× | 1.57× | 22.7% |
| FY2022 | 10.2% | 2.89× | 1.70× | 50.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$132.84M
- Cash generatingOperating cash flow above zero$254.15M
- Return on assets improvedROA up on the prior year10.9% → 3.9%
- Earnings backed by cashOperating cash flow above net income$254.15M vs $132.84M
- Less leverageLong-term debt to assets fell13.2% → 13.7%
- Better liquidityCurrent ratio rose3.34 → 3.36
- No dilutionShare count did not rise39M → 38M
- Gross margin improvedGross margin up on the prior year19.79% → 16.46%
- More efficientAsset turnover rose1.94 → 1.90
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