SiteOne Landscape Supply (SITE) Q4 2025 earnings summary

Executive summary

• Net sales grew 4% to $4.70 billion in 2025, with Q4 net sales up 3% to $1.05 billion and Organic Daily Sales up 1% for the year.

• Adjusted EBITDA increased 10% to $414.2 million for the year, with Q4 up 18% to $37.6 million; margin improved 50 bps to 8.8%.

• Net income for 2025 rose 23% to $151.8 million.

• Completed eight acquisitions in 2025 and one in early 2026, adding $55 million in trailing 12-month sales.

• Maintained strong market position with over 670 branches, 5 distribution centers, and a 19% share of a $25B fragmented market.

Financial highlights

• Q4 gross profit increased 6% to $356.8 million; full-year gross profit up 5% to $1.64 billion, with gross margin up 40 bps to 34.8%.

• SG&A as a percentage of net sales decreased 40 bps to 30.1% for the year.

• Net debt at year-end was $330 million, leverage at 0.8x trailing 12-month Adjusted EBITDA.

• Available liquidity at year-end was $768 million, including $190.6 million in cash.

• Cash from operating activities increased to $300.5 million for the year.

Outlook and guidance

• 2026 organic daily sales expected to grow low single digits, with pricing up 1%-3%.

• Maintenance end market (36% of sales) expected to grow steadily; new residential construction (20%-34% of sales) expected to decline.

• Gross margin and Adjusted EBITDA margin expected to improve in 2026, with full-year Adjusted EBITDA guidance of $425M-$455M, including a $4-$5M headwind from an extra week.

• Effective tax rate expected at 25%-26% in 2026.

• No contribution from unannounced acquisitions included in guidance.