A Business at a Glance
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Blue Bird Corp
BLBD
$2.5B
Mkt Cap
$76.20
-1.69%
Blue Bird Corp (BLBD) has a current P/E ratio of 19.6, compared to its historical median P/E of 22.7. The stock is currently considered Fair based on its historical valuation range.
Blue Bird Corp (BLBD) has a 5-year average return on invested capital (ROIC) of 41.9%. This indicates strong capital allocation and a potential competitive advantage.
Blue Bird Corp (BLBD) has a market capitalization of $2.4B. It is classified as a mid-cap stock.
Blue Bird Corp (BLBD) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.33%.
Based on historical P/E analysis, Blue Bird Corp (BLBD) appears fair. The current P/E of 19.6 is 13% below its historical median of 22.7. The estimated fair value CAGR (P/E method) is 28.5%.
Blue Bird Corp (BLBD) operates in the Truck & Bus Bodies industry, within the Consumer Cyclical sector.
Blue Bird Corp (BLBD) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
The Company (formerly Hennessy Capital Acquisition Corp.) was incorporated in Delaware on September 24, 2013 as a special purpose acquisition company, or SPAC. On February 24, 2015, the Company consummated a business combination (the “Business Combination”), pursuant to which the Company acquired all of the outstanding capital stock of School Bus Holdings Inc., a Delaware corporation (“School Bus Holdings” or “SBH”) from The Traxis Group, B.V. (the “Seller”). The total purchase price was paid in a combination of cash in the amount of $100.0 million and 12,000,000 shares of the Company’s common stock, $0.0001 par value (the “Common Stock”), valued at $120.0 million. In connection with the closing of the Business Combination, the Company changed its name from Hennessy Capital Acquisition Corp. to Blue Bird Corporation.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.5B | 1.5B | 1.3B | 1.1B | 801M | 684M |
| Net Income | 133M | 128M | 106M | 24M | -46M | -289K |
| EPS | $4.20 | $3.88 | $3.16 | $0.74 | $-1.48 | $-0.01 |
| Free Cash Flow | 184M | 153M | 96M | 111M | -31M | -66M |
| ROIC | 120.8% | 104.0% | 103.7% | 31.7% | -36.8% | 7.0% |
| Gross Margin | 21.0% | 20.5% | 19.0% | 12.3% | 4.6% | 10.5% |
| Debt/Equity | 0.30 | 0.35 | 0.60 | 3.26 | 108.68 | -5.04 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 177M | 167M | 139M | 52M | -41M | 6.5M |
| Operating Margin | 11.9% | 11.3% | 10.3% | 4.6% | -5.1% | 1.0% |
| ROE | 44.6% | 61.6% | 105.8% | 115.1% | 292.6% | 0.7% |
| Shares Outstanding | 32M | 33M | 33M | 32M | 31M | 29M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 856M | 919M | 932M | 991M | 1.0B | 1.0B | 879M | 684M | 801M | 1.1B | 1.3B | 1.5B | 1.5B |
| Gross Margin | 12.8% | 13.1% | 13.9% | 12.9% | 11.9% | 13.1% | 10.9% | 10.5% | 4.6% | 12.3% | 19.0% | 20.5% | 21.0% |
| R&D | 3.7M | 5.2M | 5.4M | 7.4M | 8.5M | 12M | 6.4M | 5.2M | 6.1M | 6.6M | 9.4M | 15M | 15M |
| SG&A | 91M | 85M | 103M | 68M | 87M | 90M | 74M | 66M | 77M | 87M | 117M | 136M | 137M |
| EBIT | 18M | 36M | 27M | 60M | 35M | 44M | 22M | 6.5M | -41M | 52M | 139M | 167M | 177M |
| Op. Margin | 2.1% | 3.9% | 2.9% | 6.0% | 3.4% | 4.3% | 2.5% | 1.0% | -5.1% | 4.6% | 10.3% | 11.3% | 11.9% |
| Net Income | 2.8M | 12M | 3.0M | 18M | 29M | 24M | 12M | -289K | -46M | 24M | 106M | 128M | 133M |
| Net Margin | 0.3% | 1.4% | 0.3% | 1.9% | 2.8% | 2.4% | 1.4% | -0.0% | -5.7% | 2.1% | 7.8% | 8.6% | 8.9% |
| Non-Recurring | 67K | -510K | -72K | 33K | -114K | -5K | 76K | 679K | 1.3M | -64K | -200K | -325K | -325K |
| Returns on Capital | |||||||||||||
| ROIC | 17.2% | N/M | 71.1% | 120.4% | 72.0% | 75.3% | 33.9% | 7.0% | -36.8% | 31.7% | 103.7% | 104.0% | 120.8% |
| ROE | -3.7% | -9.3% | -2.9% | -25.4% | -66.6% | -50.5% | -20.1% | 0.7% | 292.6% | 115.1% | 105.8% | 61.6% | 44.6% |
| ROA | 4.8% | 6.5% | 1.1% | 6.4% | 9.6% | 7.2% | 3.6% | -0.1% | -12.7% | 6.1% | 22.4% | 22.2% | 19.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 37M | 23M | 25M | 48M | 48M | 56M | 3.5M | -54M | -24M | 120M | 111M | 176M | 206M |
| Free Cash Flow | 31M | 18M | 16M | 38M | 16M | 20M | -16M | -66M | -31M | 111M | 96M | 153M | 184M |
| Owner Earnings | 27M | 13M | 4.3M | 38M | 37M | 41M | -15M | -74M | -42M | 100M | 88M | 146M | 182M |
| CapEx | 5.5M | 5.2M | 9.6M | 9.3M | 32M | 36M | 19M | 12M | 6.5M | 8.5M | 15M | 23M | 23M |
| Maint. CapEx | 9.9M | 8.8M | 8.0M | 8.2M | 9.0M | 10M | 14M | 13M | 14M | 16M | 15M | 16M | 16M |
| Growth CapEx | 0 | 0 | 1.5M | 1.1M | 23M | 25M | 4.6M | 0 | 0 | 0 | 443K | 7.3M | 6.7M |
| D&A | 9.9M | 8.8M | 8.0M | 8.2M | 9.0M | 10M | 14M | 13M | 14M | 16M | 15M | 16M | 16M |
| CapEx/OCF | 15.0% | 22.2% | 38.2% | 19.4% | 66.4% | 63.8% | 548.4% | N/A | N/A | 7.1% | 13.7% | 13.0% | 10.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 227M | 0 | 0 | 4.3M | 1.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 557.6% | N/A | N/A | 1.0% | 0.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 34M | 27M | 0 | 3.6M | 517K | 1.7M | 376K | 1.2M | 9.9M | 8.1M |
| Buyback Yield | N/A | N/A | N/A | 6.9% | 4.1% | N/A | N/A | 0.1% | 0.6% | 0.1% | 0.1% | 0.5% | 0.3% |
| Stock-Based Comp | 0 | 1.6M | 13M | 1.3M | 2.6M | 4.3M | 4.1M | 5.9M | 3.7M | 4.2M | 8.6M | 15M | 8.9M |
| Debt Repayment | 13M | 0 | 0 | 507K | 0 | 0 | 935K | 2.5M | 2.8M | 3.3M | 3.1M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 171M | 134M | 100M | 89M | 82M | 112M | 130M | 153M | 140M | 51M | -33M | -139M | -188M |
| Cash & Equiv. | 52M | 53M | 52M | 63M | 60M | 71M | 45M | 12M | 10M | 79M | 128M | 229M | 276M |
| Long-Term Debt | 211M | 175M | 140M | 143M | 132M | 173M | 164M | 150M | 130M | 111M | 90M | 85M | 83M |
| Debt/Equity | -1.50 | -1.54 | -1.75 | -2.58 | -5.02 | -2.70 | -3.27 | -5.04 | 108.68 | 3.26 | 0.60 | 0.35 | 0.30 |
| Interest Coverage | 2.9 | 1.9 | 1.6 | 8.2 | 5.3 | 3.4 | 1.8 | 0.7 | -2.8 | 2.9 | 13.2 | 23.2 | 26.9 |
| Equity | -149M | -121M | -87M | -59M | -28M | -68M | -53M | -33M | 1.4M | 40M | 160M | 255M | 298M |
| Total Assets | 115M | 267M | 278M | 296M | 307M | 365M | 317M | 356M | 366M | 418M | 525M | 625M | 689M |
| Total Liabilities | 110M | 388M | 365M | 354M | 336M | 433M | 371M | 389M | 365M | 378M | 365M | 370M | 43M |
| Intangibles | 62M | 60M | 59M | 57M | 55M | 55M | 52M | 49M | 47M | 45M | 44M | 42M | 41M |
| Retained Earnings | -102M | -135M | -129M | -100M | -69M | -46M | -33M | -34M | -80M | -56M | 0 | 88M | 128M |
| Working Capital | 4.3M | -4.5M | 2.0M | 22M | 986K | 2.4M | 5.2M | 31M | 9.7M | 6.4M | 87M | 175M | 212M |
| Current Assets | 164M | 129M | 133M | 160M | 150M | 172M | 117M | 156M | 174M | 236M | 323M | 412M | 467M |
| Current Liabilities | 160M | 133M | 131M | 139M | 149M | 170M | 112M | 125M | 165M | 230M | 236M | 237M | 254M |
| Per Share Data | |||||||||||||
| EPS | 0.66 | 0.59 | 0.14 | 0.74 | 1.08 | 0.90 | 0.45 | -0.01 | -1.48 | 0.74 | 3.16 | 3.88 | 4.20 |
| Owner EPS | 6.42 | 0.61 | 0.20 | 1.53 | 1.37 | 1.52 | -0.56 | -2.55 | -1.36 | 3.10 | 2.63 | 4.43 | 5.74 |
| Book Value | -35.44 | -5.72 | -4.03 | -2.35 | -1.06 | -2.51 | -1.97 | -1.13 | 0.04 | 1.24 | 4.78 | 7.76 | 9.41 |
| Cash Flow/Share | 8.77 | 1.10 | 1.16 | 1.91 | 1.81 | 2.06 | 0.13 | -1.88 | -0.79 | 3.73 | 3.33 | 5.35 | 4.71 |
| Dividends/Share | 54.02 | 0.00 | 0.00 | 0.17 | 0.07 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 4.2M | 21.2M | 21.6M | 24.9M | 26.8M | 27.0M | 27.1M | 28.9M | 30.9M | 32.2M | 33.4M | 32.9M | 31.6M |
| Valuation | |||||||||||||
| P/E Ratio | 75.6 | 17.0 | 104.4 | 26.8 | 22.7 | 21.2 | 25.4 | N/A | N/A | 28.4 | 15.3 | 14.9 | 18.1 |
| P/FCF | 1.3 | 11.7 | 20.3 | 12.9 | 40.4 | 25.5 | N/A | N/A | N/A | 6.1 | 16.9 | 12.4 | 13.1 |
| EV/EBIT | 20.6 | 9.7 | 15.6 | 10.7 | 21.0 | 14.3 | 12.9 | 92.8 | N/A | 12.3 | 10.8 | 10.1 | 12.5 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 190.8 | 16.9 | 10.1 | 7.5 | 8.1 |
| Price/Sales | 0.2 | 0.3 | 0.3 | 0.4 | 0.6 | 0.5 | 0.5 | 0.9 | 0.6 | 0.5 | 0.9 | 0.9 | 1.6 |
| FCF Yield | 15.0% | 8.5% | 4.9% | 7.8% | 2.5% | 3.9% | -5.0% | -11.3% | -11.7% | 16.5% | 5.9% | 8.0% | 7.6% |
| Market Cap | 208M | 213M | 315M | 495M | 656M | 514M | 309M | 587M | 264M | 677M | 1.6B | 1.9B | 2.4B |
| Avg. Price | 9.69 | 11.01 | 11.29 | 17.05 | 21.65 | 18.90 | 15.80 | 21.45 | 15.62 | 17.60 | 36.77 | 42.27 | 76.20 |
| Year-End Price | 9.83 | 10.05 | 14.61 | 19.85 | 24.50 | 19.05 | 11.41 | 20.31 | 8.53 | 21.03 | 48.45 | 57.95 | 76.20 |
Blue Bird Corp passes 6 of 9 quality checks, suggesting mixed fundamentals.
Blue Bird Corp trades at 19.6x trailing earnings, compared to its 15-year median P/E of 22.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.4x vs a median of 16.9x. The company's 5-year average ROIC is 41.9% with a gross margin of 13.4%. Total shareholder yield (buybacks) is 0.3%. At current prices, the estimated annualized return to fair value is +44.3%.
Blue Bird Corp (BLBD) has a net profit margin of 8.6%. This is a modest margin.
Blue Bird Corp (BLBD) generated $153 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Blue Bird Corp (BLBD) has a debt-to-equity ratio of 0.35. This indicates a conservatively financed balance sheet.
Blue Bird Corp (BLBD) reported earnings per share (EPS) of $3.88 in its most recent fiscal year.
Blue Bird Corp (BLBD) has a return on equity (ROE) of 61.6%. This indicates the company generates strong returns for shareholders.
Blue Bird Corp (BLBD) has a 5-year average gross margin of 13.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 13 years of financial data for Blue Bird Corp (BLBD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Blue Bird Corp (BLBD) has a book value per share of $7.76, based on its most recent annual SEC filing.
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