Building Products


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. Johnson Controls International plc JCI17,15518,42720,10322,64626,55327,47932,23534,62438,06228,49734,30517,35541,95510,64710,3409,90237,67430,17231,40023,96822,317
2. Builders FirstSource, Inc BLDR2,0582,3382,2391,5921,0356787007791,0711,4901,6043,5646,3677,0347,7257,280
3. Owens Corning OC4,9404,7624,8724,9965,6756,3236,4614,9785,8474,8034,9975,3355,1725,2955,2765,3505,6776,3847,0577,160
4. Masco Corporation MAS7,2438,3589,41910,93612,07412,64212,77811,7709,6007,7927,5927,4677,7458,1738,5217,1427,3577,6448,3596,707
5. Fortune Brands Home & Security, Inc FBHS3,0073,2343,3293,5914,1574,0144,5794,9855,2815,4855,765
6. Resideo Technologies, Inc REZI4,1544,4554,5194,8274,988
7. Cornerstone Building Brands, Inc CNR4787759601,1541,3081,3711,5641,6851,7702,0014,890
8. UFP Industries, Inc UFPI1,3891,5301,6401,8992,4532,6922,6652,5132,2321,6731,8911,8222,0552,4702,6602,8873,2403,9426.64,416
9. JELD-WEN Holding, Inc JELD3,5073,3813,6673,7644,3474,290
10. Lennox International Inc LII3,2473,1203,0263,0852,9833,3663,6713,7503,4812,8483,1073,3132,9603,2113,3813,4673,6423,8403,8843,821
11. A. O. Smith Corporation AOS1,2481,1511,4691,5311,6531,6892,1612,3122,3051,9921,4891,8621,9352,1542,3562,5372,6862,9973,1882,993
12. Allegion plc ALLE2,0212,0472,0942,1182,0682,2382,4082,7322,854
13. Patrick Industries, Inc PATK3622933092753023233484353252132783084375957369201,2221,6362,2632,337
14. Griffon Corporation GFF1,1181,1601,1931,2551,3941,4021,6371,6171,2691,1941,2941,8311,8611,8711,9922,0161,9571,5251,9782,2092,408
15. Masonite International Corporation DOOR1,2921,4221,6201,7772,2002,4642,1741,3831,4891,6761,7311,8381,8721,9742,0332,1702,177
16. American Woodmark Corporation AMWD3874174995636687778387616025464074535166307278259471,0301,2501,6451,650
17. Apogee Enterprises, Inc APOG8408658027725356296977798829266975836627007719349811,1151,3261,4031,387
18. Advanced Drainage Systems, Inc WMS1,0171,0691,1801,2911,2491,3151,3811,668
19. Simpson Manufacturing Co., Inc SSD3694164655486988468638177575855556036577067527948619771,0891,143
20. Gibraltar Industries, Inc ROCK6786166457581,0151,1781,3031,3121,2328346857677908288621,0451,0089871,0021,047
21. Armstrong World Industries, Inc AWI3,4973,5583,4263,5503,3932,7802,7662,8602,6752,7792,5808051,3088949751,038
22. Quanex Building Products Corporation NX9521,044964869585798848829953595646928867890894852
23. The AZEK Company Inc AZEK00633682794899
24. Trex Company, Inc TREX118117167191254294337329329272318267307343392441480565684745
25. PGT Innovations, Inc PGTI2563333722782191661761671752393063904595112.55745
26. Armstrong Flooring, Inc AFI1,2201,189710704728626
27. Caesarstone Ltd CSTE199260297357447500539588576546
28. Insteel Industries, Inc IIIN315300251212333346330298354230212337363364409448419389453456473
29. CSW Industrials, Inc CSWI232262320327326350386
30. Antelope Enterprise Holdings Limited CCCL01221622372321540.71,017794822498328
31. Burnham Holdings, Inc BURCA226202200231252239218225226184190199205190200190172177198212
32. PFB Corporation PFBOF252532436967836663668783807799102106128133
33. Alpha Pro Tech, Ltd APT2121212725313735366042394144484546444747
34. Jewett-Cameron Trading Company Ltd JCTCF242244557175767164424242464942424848544545
35. Tecogen Inc TGEN15.2515.8519.342124333633
36. Surna Inc SRNA000.02001.847.877.587.219.5815.22
37. Trutankless, Inc TKLS000.240.270.430.71.541.91
38. AAON, Inc AAON155157155149173185231263280245245264303321357359384405434-0.34
39. Kingfish Holding Corporation KSSH12.1810.140000
40. Innovative Composites International Inc ICIZF0.070.140.493.013.26
41. Luxor Industrial Corporation LXRRF0.330.530.650.781.311.541.161.30.921.031.193.134.312.132.783.16


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. Johnson Controls International plc JCI1.071.071.091.131.171.031.171.071.10.751.20.512.420.250.970.963.80.81.040.760.93
2. Builders FirstSource, Inc BLDR1.141.140.960.710.650.661.031.111.371.391.082.221.791.11.10.94
3. Owens Corning OC0.960.961.021.031.141.111.020.771.170.821.041.070.971.0211.011.061.121.111.01
4. Masco Corporation MAS1.151.151.131.161.11.051.010.920.820.810.970.981.041.061.040.841.031.041.090.8
5. Fortune Brands Home & Security, Inc FBHS1.081.081.031.081.160.971.141.091.061.041.05
6. Resideo Technologies, Inc REZI1.071.071.011.071.03
7. Cornerstone Building Brands, Inc CNR1.871.870.8612.831.21.131.051.141.081.051.132.44
8. UFP Industries, Inc UFPI1.11.11.071.161.291.10.990.940.890.751.130.961.131.21.081.091.121.220668.69
9. JELD-WEN Holding, Inc JELD0.960.961.081.031.150.99
10. Lennox International Inc LII0.960.960.971.020.971.131.091.020.930.821.091.070.891.081.051.031.051.051.010.98
11. A. O. Smith Corporation AOS0.920.921.281.041.081.021.281.0710.860.751.251.041.111.091.081.061.121.060.94
12. Allegion plc ALLE1.011.011.021.010.981.081.081.131.04
13. Patrick Industries, Inc PATK0.810.811.050.891.11.071.071.250.750.651.311.111.421.361.241.251.331.341.381.03
14. Griffon Corporation GFF1.041.041.031.051.111.011.170.990.790.941.081.411.021.011.061.010.970.781.31.121.09
15. Masonite International Corporation DOOR1.11.11.141.11.241.120.880.641.081.131.031.061.021.051.031.071
16. American Woodmark Corporation AMWD1.081.081.21.131.181.161.080.910.790.910.741.111.141.221.151.141.151.091.211.321
17. Apogee Enterprises, Inc APOG1.031.030.930.960.691.171.111.121.131.050.750.841.141.061.11.211.051.141.191.060.99
18. Advanced Drainage Systems, Inc WMS1.051.051.11.090.971.051.051.21
19. Simpson Manufacturing Co., Inc SSD0.630.634.519.391.131.121.181.271.211.020.950.930.770.951.091.091.071.061.061.081.141.121.05
20. Gibraltar Industries, Inc ROCK0.910.911.051.181.341.161.111.010.940.680.821.121.031.051.041.210.960.981.021.04
21. Armstrong World Industries, Inc AWI1.021.020.961.040.960.8211.030.941.040.930.311.620.681.091.06
22. Quanex Building Products Corporation NX1.11.10.920.90.671.361.060.981.150.621.081.440.931.0310.95
23. The AZEK Company Inc AZEKNANNANINF1.081.161.13
24. Trex Company, Inc TREX0.990.991.431.141.331.161.150.9810.831.170.841.151.111.141.131.091.181.211.09
25. PGT Innovations, Inc PGTI1.31.31.120.750.790.761.060.951.041.371.281.271.181.110292.03
26. Armstrong Flooring, Inc AFI0.970.970.60.991.030.86
27. Caesarstone Ltd CSTE1.311.311.141.21.251.121.081.090.980.95
28. Insteel Industries, Inc IIIN0.950.950.840.851.571.040.950.91.190.650.921.591.0811.121.090.940.931.171.011.04
29. CSW Industrials, Inc CSWI1.131.131.221.0211.071.1
30. Antelope Enterprise Holdings Limited CCCLINFINF1.321.460.980.6601453.790.781.040.610.66
31. Burnham Holdings, Inc BURCA0.90.90.991.161.090.950.911.031.010.811.031.051.030.931.050.950.911.021.121.07
32. PFB Corporation PFBOF0.990.991.281.361.590.971.240.790.961.051.330.950.960.971.281.021.041.221.04
33. Alpha Pro Tech, Ltd APT1.011.0111.260.921.251.20.951.011.670.70.921.071.071.090.941.030.951.061
34. Jewett-Cameron Trading Company Ltd JCTCF0.90.91.971.271.291.051.020.930.910.650.991.011.091.070.8611.140.991.130.840.99
35. Tecogen Inc TGEN1.041.041.221.111.141.361.080.93
36. Surna Inc SRNANANNANINF0NANINF4.280.960.951.331.59
37. Trutankless, Inc TKLSNANNANINF1.111.621.622.211.24
38. AAON, Inc AAON1.011.010.990.961.161.071.251.131.070.8811.081.151.061.111.011.071.061.07-0
39. Kingfish Holding Corporation KSSH0.830.830NANNANNAN
40. Innovative Composites International Inc ICIZF2.112.113.476.191.08
41. Luxor Industrial Corporation LXRRF1.641.641.221.21.681.180.751.120.711.121.162.631.380.51.31.13