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Blue Bird Corp

BLBD Nasdaq Truck & Bus Bodies Financials FY2016–FY2025

Revenue Total sales reported in the income statement.
$1.5B
9.9% vs prior year
Operating margin Operating income as a share of revenue.
11.3%
1.0 pts
Net income Profit after all expenses, interest and tax.
$128M
21.0%
Free cash flow Cash from operations minus capital spending.
$153M
60.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
106.4%
25.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On $8.22 EPS (TTM)

What Blue Bird Corp does

No business description yet.

Legal name
Blue Bird Corp
Fiscal year ends
September 27, 2025
Latest annual report
10-K · Nov 24, 2025
Accession · CIK
0001589526-25-000100
0001589526

Revenue and margins

Blue Bird Corp had $1.5B of revenue in fiscal 2025, up 9.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 44.6% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $153M in fiscal 2025, 10.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Blue Bird Corp returned $9.9M to shareholders in fiscal 2025, 6% of free cash flow. The diluted share count fell 1.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Blue Bird Corp can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $11.7M$10.5M$79.0M$128M$229M
Debt incl. finance leases $170M$152M$132M$96.0M$90.3M
Net debt / EBITDA 7.9x—0.8x−0.2x−0.8x
Debt / equity —108.7x3.3x0.6x0.4x
Interest coverage 0.7x−2.8x2.9x13.2x23.2x
Current ratio 1.3x1.1x1.0x1.4x1.7x
Quick ratio 0.2x0.2x0.4x0.8x1.1x
Total assets $356M$366M$418M$525M$625M
Total liabilities $389M$365M$378M$365M$370M
Shareholders' equity −$32.7M$1.4M$40.0M$160M$255M
Net debt (− = net cash) $159M$142M$52.9M−$31.7M−$139M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive ✓ ✓ ✓ ✓ ✓ ✕ ✕ ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓ ✓ ✓ ✕ ✕ ✓ ✓ ✓
Return on assets rose — ✓ ✓ ✕ ✕ ✕ ✕ ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✕ ✕ ✓ ✓ ✓ ✓
Debt fell relative to assets — ✓ ✓ ✕ ✕ ✓ ✓ ✓ ✓ ✓
Current ratio rose — ✓ ✕ ✓ ✓ ✓ ✕ ✕ ✓ ✓
Share count didn't rise — ✕ ✕ ✓ ✕ ✕ ✕ ✕ ✕ ✓
Gross margin rose — ✕ ✕ ✓ ✕ ✕ ✕ ✓ ✓ ✓
Revenue rose relative to assets — ✕ ✕ ✕ ✕ ✕ ✓ ✓ ✕ ✕
F-score — / 36 / 95 / 96 / 93 / 92 / 93 / 97 / 97 / 98 / 9
Accruals ratio −6.6%−6.6%−5.8%−9.3%2.6%16.0%−5.9%−24.5%−1.2%−8.4%
Altman Z'' −1.070.56−0.040.280.080.30−1.280.613.334.82

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $932M $991M $1.0B $1.0B $879M $684M $801M $1.1B $1.3B $1.5B
Gross profit $129M $127M $122M $133M $96.2M $72.1M $36.5M $139M $256M $304M
Research and development $5.4M $7.4M $8.5M $11.5M $6.4M $5.2M $6.1M $6.6M $9.4M $15.2M
Operating income $26.6M $59.5M $35.1M $43.8M $22.0M $6.5M −$40.7M $51.7M $139M $167M
Interest expense $16.4M $7.3M $6.7M $12.9M $12.3M $9.7M $14.7M $18.0M $10.6M $7.2M
Pretax income $9.8M $37.4M $26.9M $29.6M $10.5M −$2.0M −$53.1M $25.8M $127M $170M
Income tax $5.8M $11.9M −$2.6M $7.6M $1.5M −$1.2M −$11.5M $9.0M $33.2M $43.9M
Net income $6.9M $28.8M $30.8M $24.3M $12.2M −$0.3M −$45.8M $23.8M $106M $128M
Net income to common $3.0M $18.4M $28.9M $24.3M $12.2M — — — — —
Diluted EPS $0.14 $0.74 $1.08 $0.90 $0.45 −$0.01 −$1.48 $0.74 $3.16 $3.88
Diluted shares 0.02B 0.02B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B
Cash flow
Cash from operations $25.1M $47.6M $48.4M $55.7M $3.5M −$54.2M −$24.4M $120M $111M $176M
Capital expenditure $9.6M $9.3M $32.1M $35.5M $19.0M $12.2M $6.5M $8.5M $15.3M $22.9M
Free cash flow $15.5M $38.4M $16.2M $20.2M −$15.5M −$66.5M −$30.9M $111M $95.8M $153M
Depreciation and amortization $8.0M $8.2M $9.0M $10.4M $14.4M $13.4M $14.1M $16.0M $14.8M $15.6M
Stock-based compensation $12.7M $1.3M $2.6M $4.3M $4.1M $5.9M $3.7M $4.2M $8.6M $14.8M
Share buybacks — — — — $3.6M $0.5M $1.7M $0.4M $1.2M $9.9M
Dividends paid $0.0M — — — — — — — — —
Dividends and buybacks $0.0M — — — $3.6M $0.5M $1.7M $0.4M $1.2M $9.9M
Balance sheet
Cash and short-term investments $62.6M $62.6M $60.3M $71.0M $44.5M $11.7M $10.5M $79.0M $128M $229M
Total debt $152M $151M $142M $183M $174M $164M $150M $130M $95.0M $90.3M
Finance lease liabilities — — — $4.6M $7.2M $5.9M $2.1M $1.6M $1.0M —
Current assets $133M $160M $150M $172M $117M $156M $174M $236M $323M $412M
Current liabilities $131M $139M $149M $170M $112M $125M $165M $230M $236M $237M
Inventory $53.8M $76.2M $57.3M $78.8M $56.5M $125M $143M $135M $128M $139M
Property and equipment, net $33.5M $34.7M $66.1M $100M $103M $105M $101M $95.1M $97.3M $109M
Goodwill $18.8M $18.8M $18.8M $18.8M $18.8M $18.8M $18.8M $18.8M $18.8M $18.8M
Intangible assets $59.5M $57.5M $55.5M $54.7M $51.6M $49.4M $47.4M $45.4M $43.6M $41.7M
Total assets $278M $296M $307M $365M $317M $356M $366M $418M $525M $625M
Total liabilities $365M $354M $336M $433M $371M $389M $365M $378M $365M $370M
Shareholders' equity −$87.0M −$58.5M −$28.3M −$67.8M −$53.2M −$32.7M $1.4M $40.0M $160M $255M
Margins
Gross margin 13.9% 12.9% 11.9% 13.1% 10.9% 10.5% 4.6% 12.3% 19.0% 20.5%
Operating margin 2.9% 6.0% 3.4% 4.3% 2.5% 1.0% −5.1% 4.6% 10.3% 11.3%
EBITDA margin 3.7% 6.8% 4.3% 5.3% 4.1% 2.9% −3.3% 6.0% 11.4% 12.3%
Net margin 0.7% 2.9% 3.0% 2.4% 1.4% −0.0% −5.7% 2.1% 7.8% 8.6%
FCF margin 1.7% 3.9% 1.6% 2.0% −1.8% −9.7% −3.9% 9.8% 7.1% 10.4%
Returns
Return on capital 685.6% 135.0% 65.5% 73.6% 24.6% 4.3% −22.8% 36.9% 81.1% 106.4%
Return on capital employed 18.1% 37.9% 22.1% 22.4% 10.7% 2.8% −20.2% 27.5% 48.2% 43.0%
Return on equity — — — — — — — 115.1% 105.8% 61.6%
Return on assets 2.5% 10.0% 10.2% 7.2% 3.6% −0.1% −12.7% 6.1% 22.4% 22.2%
Return on tangible equity — — — — — — — — 108.6% 65.5%
Growth
Revenue growth — 6.3% 3.5% −0.6% −13.7% −22.2% 17.1% 41.5% 18.9% 9.9%
Net income growth — 317.4% 7.0% −21.2% −49.9% −102.4% — — 343.3% 21.0%
EPS growth — 428.6% 45.9% −16.7% −50.0% −102.2% — — 327.0% 22.8%
FCF growth — 147.3% −57.7% 24.4% −176.8% — — — −14.0% 60.0%
Share count change — 16.7% 15.0% −5.5% 0.2% 0.2% 14.3% 4.0% 3.4% −1.4%
Financial health
Net debt / EBITDA 2.6x 1.3x 1.9x 2.2x 3.8x 7.9x — 0.8x −0.2x −0.8x
Debt / equity — — — — — — 108.7x 3.3x 0.6x 0.4x
Interest coverage 1.6x 8.2x 5.3x 3.4x 1.8x 0.7x −2.8x 2.9x 13.2x 23.2x
Current ratio 1.0x 1.2x 1.0x 1.0x 1.0x 1.3x 1.1x 1.0x 1.4x 1.7x
Quick ratio 0.6x 0.6x 0.6x 0.5x 0.5x 0.2x 0.2x 0.4x 0.8x 1.1x
Capital allocation
Capex / revenue 1.0% 0.9% 3.1% 3.5% 2.2% 1.8% 0.8% 0.8% 1.1% 1.5%
Stock comp / revenue 1.4% 0.1% 0.3% 0.4% 0.5% 0.9% 0.5% 0.4% 0.6% 1.0%
Payouts / FCF 0.0% — — — — — — 0.3% 1.2% 6.4%
Quality scores
Piotroski F-score — 6.0 5.0 6.0 3.0 2.0 3.0 7.0 7.0 8.0
Altman Z'' −1.1 0.6 −0.0 0.3 0.1 0.3 −1.3 0.6 3.3 4.8
Accruals ratio −6.6% −6.6% −5.8% −9.3% 2.6% 16.0% −5.9% −24.5% −1.2% −8.4%

Source: SEC EDGAR XBRL filings (CIK 0001589526). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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