BMC Stock: Next slide, please

With the official merger of BMC and Stock and the formation of BMC Stock Holdings, the new entity has a new investor presentation. One slide that catches the eye is the emphasis on “Differentiated, value-added product and service capabilities.”



Slide 9 highlights that of the 15 or so products/ services that go into the cost of a new home, BMC’s portfolio deals in about half of them, and 50% of the total cost. Based on the NAHB’s “Cost of Construction Survey” and company estimates, the top category is “framing & trusses” (16.8% average share of cost).



The biggest category not in the BMC fold is “Excavation, foundation & backfill” (11.3%.)