Acquisition Activity
TopBuild acquired several companies, including Progressive Roofing, SPI, Insulation Fabrics, Diamond Door Products, and Performance Insulation Fabricators, adding over $50 million in annual revenue and expanding their market opportunities.
Sales Growth
Total sales grew 1.4% to $1.4 billion in the third quarter, driven by M&A contributions of 7.9% and pricing of 0.3%, despite a volume decline of 6.7%.
Strong Free Cash Flow
Free cash flow for the twelve months trailing as of Q3 2025 was $791.2 million, up 13.4% from last year.
Adjusted EBITDA Margin
Adjusted EBITDA margin for Installation Services improved by 20 basis points to 22.5% compared to the third quarter of last year.