At a glance
Ufp Industries Inc is worth $4.32B, about 16 times its fiscal 2025 earnings. Revenue fell 5.0% to $6.32B in fiscal 2025, with 4.7% kept as profit; over 5 years it has grown 4.2% a year. It pays a 1.83% dividend yield, raised every year for at least 7 years, and returned $1.08B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −13.5% over the past year with dividends reinvested and +0.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 45.7% in the 2020 crash (S&P 500: 33.7%) and 29.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 8 months after the lows.
The business in plain English
UFP Industries is a Grand Rapids, Michigan, holding company whose subsidiaries design, make and supply products built from wood, composites and other materials. It has operations across the United States and in Mexico, Canada, Spain, India and Australia. At its core, it turns lumber into finished goods. Customers pay either a fixed quoted price or a price tied to the lumber market plus a fixed dollar amount for processing costs and profit.
Retail Solutions was the largest segment, with 38.5% of fiscal 2025 sales of $6.32 billion. It makes ProWood pressure-treated lumber (wood infused with preservatives to resist rot) for decks and fences, Deckorators composite decking and aluminum railing, and UFP Edge siding and trim. Its main customers are big-box retailers and distributors. UFP estimates it produces about 28% of all U.S. residential treated wood. The Home Depot and Lowe's made up 17% and 11% of total net sales.
Construction, at 31.7%, supplies roof trusses and lumber to makers of manufactured and modular homes, and serves site-built housing, commercial construction and concrete forming. Packaging, at 25.4%, makes pallets, where UFP says it is the largest U.S. supplier, plus custom wood and metal packaging, labels, corrugated boxes and film. The remaining 4.3% comes from packaging operations abroad and a captive insurer (a company-owned insurance firm) in Bermuda.
Price history
The interactive chart needs JavaScript.
UFPI -13.5% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Retail Segment | $2.43B | 38.5% |
| Construction Segment | $2.00B | 31.7% |
| Packaging | $1.60B | 25.4% |
| All Other Segments | $271.6M | 4.3% |
Latest results
- In Q2 FY2026 (ended Jun 27, 2026), revenue was $1.88B, up 2.6% from a year earlier, and net income was $82.9M (-17.7%).
- For fiscal 2025, revenue was $6.32B (-5.0% year over year; +4.2% a year from FY2020 to FY2025) with a 4.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +4.2% watch |
|---|---|
| Operating margin | 5.8% watch |
| Free cash flow margin | 4.4% watch |
| Return on equity (FY2025) | 9.6% watch |
| Return on assets (FY2025) | 7.3% watch |
| Net cash (cash minus debt) | $409.3M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $5.15B | $246.8M | $247.3M |
| FY2021 | $8.64B | $535.6M | $361.3M |
| FY2022 | $9.63B | $692.7M | $657.4M |
| FY2023 | $7.22B | $514.3M | $779.5M |
| FY2024 | $6.65B | $414.6M | $410.3M |
| FY2025 | $6.32B | $294.8M | $276.4M |
Valuation snapshot
| Market value | $4.32B |
|---|---|
| P/E ratio | 15.7 |
| Dividend yield | 1.83% |
Rank among 1514 US companies
Market value at each year end
Ufp Industries’s market value went from $2.08B at the end of 2016 to $4.32B on Oct 28, 2026, about 2.1 times as much; since the end of 2025 it is down 19%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $4.32B | -18.6% |
| 2025 | $5.30B | -22.5% |
| 2024 | $6.84B | -11.9% |
| 2023 | $7.76B | +58.9% |
| 2022 | $4.88B | -14.2% |
| 2021 | $5.69B | +67.5% |
| 2020 | $3.40B | +16.1% |
| 2019 | $2.93B | +83.0% |
| 2018 | $1.60B | -30.5% |
| 2017 | $2.30B | +10.8% |
| 2016 | $2.08B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| UFPI price data to Oct 28, 2026 | -12.9% | -13.5% | -4.7% | +0.2% | +11.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -12.9% |
| 2025 | -18.0% |
| 2024 | -9.3% |
| 2023 | +60.3% |
| 2022 | -12.8% |
| 2021 | +67.1% |
| 2020 | +17.6% |
| 2019 | +85.6% |
| 2018 | -30.2% |
| 2017 | +11.5% |
| 2016 | +50.9% |
| 2015 | +30.1% |
| 2014 | +3.3% |
| 2013 | +38.3% |
| 2012 | +24.6% |
| 2011 | -19.5% |
| 2010 | +6.9% |
| 2009 | +37.9% |
| 2008 | -8.2% |
| 2007 | -36.6% |
| 2006 | -15.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 37.5% over that stretch · deepest drop along the way 58.9%, back to its old high 7.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34.9% over that stretch · deepest drop along the way 45.7%, back to its old high 4.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 18.9% over that stretch · deepest drop along the way 29.8%, back to its old high 7.5 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 12.3% | Mar 31, 2025 |
| Kayne Anderson Rudnick Investment Management, LLC | 6.16% | Mar 31, 2025 |
| Vanguard Portfolio Management | 5.86% | Mar 31, 2026 |
| Vanguard Capital Management | 5.26% | Mar 31, 2026 |
ETFs with the most weight in UFPI
| FTIF First Trust Bloomberg Inflation Sensitive Equity ETF | 2.22% |
| OSCV Opus Small Cap Value ETF | 1.79% |
| FTRI First Trust Indxx Global Natural Resources Income ETF | 1.63% |
| XMVM Invesco S&P MidCap Value with Momentum ETF | 0.87% |
| JPSV JPMorgan Active Small Cap Value ETF | 0.84% |
| QMID WisdomTree U.S. MidCap Quality Growth Fund | 0.71% |
| FNK First Trust Mid Cap Value AlphaDEX Fund | 0.48% |
| IVOV Vanguard S&P Mid-Cap 400 Value ETF | 0.45% |
What could go wrong
- Two retailers drive a large share of sales. The Home Depot and Lowe's made up 17% and 11% of total net sales in fiscal 2025. Losing either one, or a big cut in their orders, could noticeably hurt results.
- Lumber prices swing beyond its control. Lumber, including plywood, cost 41.6% of net sales in fiscal 2025. Prices move with weather, regulation and the economy, all outside UFP's control, and long price trends can squeeze sales and gross profit.
- Tariffs could raise costs or cut exports. Purchases hit by tariffs totaled about $407 million in 2025, including $175 million of Canadian softwood lumber. Foreign tariffs on U.S. goods could also shrink export sales of about $240 million.
- Housing and construction downturns hurt demand. Construction, 31.7% of fiscal 2025 sales, swings with the building cycle. Management expected soft demand into 2026 and warned a deeper, longer downturn could materially hurt results.
- Substitutes could replace treated wood. UFP estimates it makes about 28% of U.S. residential treated wood, so new materials that replace traditional treated lumber could cut demand for one of its core products.
- Customers or suppliers could cut UFP out. In some markets, customers or vendors could start making these products themselves, a strategy called vertical integration, which could reduce UFP's sales.
Recent events
- Investor presentation or announcement
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Change in control; Other company announcement
- Investor presentation or announcement
- Quarterly results released
- Other company announcement
- Other company announcement
- Investor presentation or announcement
- Quarterly results released
For income and retirement investors
UFP pays a modest but fast-growing dividend. It has raised its regular dividend for 7 straight years, from $0.50 a share in fiscal 2020 to $1.40 in fiscal 2025, about 22.9% a year. That fiscal 2025 payout used 27.9% of earnings and 29.8% of free cash flow (cash left after running and investing in the business). The yield was 1.83% as of October 28, 2026. Buybacks, where a company repurchases its own shares, have been bigger: $752 million from fiscal 2021 to 2025, versus $330 million in dividends. The share count fell 10.9% from September 2021 to June 2026.
The shares have fallen hard in downturns: 58.9% from peak to low in the 2008 financial crisis, 45.7% in the 2020 COVID crash and 29.8% in the 2022 bear market. Each time, they regained the prior high within about four to eight months of the low. Single stocks like UFP carry more risk than diversified funds.
Questions investors ask
How does UFP Industries make money?
UFP Industries turns lumber and other materials into finished products for retailers, manufacturers and builders. Of $6.32 billion in fiscal 2025 sales, Retail Solutions (treated lumber, decking, fencing) brought in 38.5%, Construction (roof trusses and lumber for factory-built homes and other building) 31.7%, and Packaging (pallets and custom wood packaging) 25.4%. Prices are either fixed quotes or tied to lumber costs plus a fixed markup. Its operating margin, operating profit as a share of sales, was a thin 5.8%.
Does UFP Industries raise its dividend every year?
UFP has raised its regular dividend for 7 consecutive years through fiscal 2025. Dividends per share grew from $0.50 in fiscal 2020 to $1.40 in fiscal 2025, about 22.9% a year. The fiscal 2025 dividend used 27.9% of earnings and 29.8% of free cash flow, leaving a cushion. The yield was 1.83% as of October 28, 2026, so the stock has offered more dividend growth than income. Past increases do not guarantee future ones.
How dependent is UFP Industries on Home Depot and Lowe's?
Quite dependent. The Home Depot accounted for about 17% of UFP's total net sales in fiscal 2025 and Lowe's for about 11%, together more than a quarter of sales. Those shares were nearly identical in 2023 and 2024. Both are served by the Retail Solutions segment, which makes ProWood treated lumber and Deckorators decking. The 10-K lists this concentration as a risk: losing either customer, or a big cut in orders, could hurt results.
Does UFP Industries have a lot of debt?
No, based on its June 27, 2026 balance sheet. UFP held about $644 million in cash and investments against $234 million of total debt, leaving net cash (cash minus debt) of about $409 million. Total assets were about $4.1 billion. One caution: a filing dated October 26, 2026 reported a major agreement and a new debt or financial obligation, so borrowing may have changed since then.
How has UFP Industries stock performed?
Well over 10 years, but flat to negative over the past five. As of October 28, 2026, price-based returns were about 11.8% a year over 10 years (205% in total), 0.2% a year over five years, -4.7% a year over three years and -13.5% over one year. Calendar years swing widely, from a 67.1% gain in 2021 to an 18.0% loss in 2025, and the stock had fallen 12.9% in 2026 through October 28.