BLBD Blue Bird Corp

Overview and Growth

In fiscal 2025, Blue Bird Corp recorded $1.48B of revenue, net income of $127.72M, and an operating cash inflow of $176.21M. At $1.48B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 9.9% above fiscal 2024 revenue of $1.35B, marking a year-over-year increase. The company reported diluted EPS of $3.88, adding a shareholder-level measure to the absolute income figures considered below. Against diluted EPS of $3.16 in fiscal 2024, the current result was 22.8% higher. Revenue equaled 2.37x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $303.51M as gross profit before recognizing operating expenses and other items. Gross profit represented 20.5% of revenue, showing how much of the top line remained after direct costs. Operating income was $167.17M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 11.3%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $127.72M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 8.6% margin after operating costs and the remaining recognized items. The reported income-tax provision was $43.93M, the amount recognized between pretax income and the final net-income result. Net income equaled 50.0% of period-end equity, showing the earnings generated on shareholders’ book capital. The net-income-to-assets relationship measured 20.4%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

At period end, the $625.25M asset base was financed through $369.84M of liabilities and $255.41M of equity. Current assets were $411.63M against $236.80M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.74x, leaving a positive buffer for near-term obligations. The company held $229.31M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 96.8% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $90.32M, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.35x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 14.4%, comparing borrowing with the total asset balance. The liabilities-to-assets relationship was 59.2%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 36.7%, comparing reported cash and equivalents with the full positive asset balance. Compared with $524.89M in fiscal 2024, the current asset base moved 19.1% and finished higher. Reported equity changed 60.1% from $159.56M in fiscal 2024, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $176.21M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 1.38x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $22.87M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 13.0% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $153.34M of positive free cash flow for the period. Free cash flow represented 10.4% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 24.5%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Sep 27, 2025. Analysis generated Sep 24, 2026.