Boise Cascade Co. (BCC) intrinsic value & 10-year financials
Boise Cascade Co. (BCC) has a Graham intrinsic value of $117.25 per share. At $76.13 on Oct 17, 2026, the stock trades 35% below that value. Over the last 10 fiscal years revenue grew 5.6% a year to $6.4B, with an average return on invested capital of 24.5%.
- Graham intrinsic value
- $117.25
- Share price (Oct 17, 2026)
- $76.13
- Price vs Graham value
- 35% below
- Market cap
- $2.9B
- Revenue (FY2025)
- $6.4B
- Revenue growth (10-yr CAGR)
- 5.6%
- ROIC (10-yr avg)
- 24.5%
- Free cash flow (FY2025)
- $12.7M
BCC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.4B | $132.8M | $3.53 | $12.7M | 2.9% | 6.7% |
| FY2024 | $6.7B | $376.4M | $9.57 | $208.8M | 7.3% | 19.7% |
| FY2023 | $6.8B | $483.7M | $12.12 | $472.0M | 9.1% | 27.9% |
| FY2022 | $8.4B | $857.7M | $21.56 | $927.1M | 13.8% | 63.7% |
| FY2021 | $7.9B | $712.5M | $17.97 | $560.5M | 12.3% | 69.1% |
| FY2020 | $5.5B | $175.0M | $4.44 | $215.1M | 6.1% | 21.4% |
| FY2019 | $4.6B | $80.9M | $2.06 | $162.9M | 2.9% | 11.0% |
| FY2018 | $5.0B | $20.5M | $0.52 | $83.6M | 1.4% | 7.2% |
| FY2017 | $4.4B | $83.0M | $2.12 | $76.1M | 3.2% | 10.8% |
| FY2016 | $3.9B | $38.3M | $0.98 | $68.3M | 2.0% | 7.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BOISE CASCADE Co has demonstrated mature, steady growth, with revenue compounding at 5.6% annually over the past decade.
BOISE CASCADE Co has earned high returns on invested capital, averaging 24.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
BOISE CASCADE Co has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BOISE CASCADE Co is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $117.25 per share.