Blue Bird Corp

BLBD · Truck & Bus Bodies · 31.6M shares · +5%/yr ↑ shares · EDGAR filings ↗

Net buyback after stock comp: -$4M (gross $376K, SBC $4M)

Reference price $65.09 · est. market cap ~$2.1B — last insider purchase, 2026-05-19 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B77

Market-leading school-bus maker posting top-decile returns and strong interest coverage despite thin gross margins.

Strengths

Top-decile ROA (97th pct) and high ROE (88th pct) with very strong interest coverage (92nd pct)
Clear category leadership and alternative-power lead; net income growth 21%
Low leverage and solid net/operating margins (70th/74th pct)

Risks

Low gross margin (20th pct) reflects manufacturing cost pressure
Cyclical, supply-chain- and single-source-component-dependent
Demand tied to school-district budgets and EPA/funding cycles

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Strong balance sheetStrong balance sheet — $229M cash & investments
Insider sellingInsider selling — 2 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$543,286, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-28 · $398M2025-09-27 · $409M2025-12-27 · $333M2026-03-28 · $353M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

20.5%

Operating margin

11.3%

Net margin

8.6%

Return on equity

50.0%

Return on assets

20.4%

ROIC

38.8%

Revenue growth (QoQ)

5.9%

Net-income growth

21.0%

Debt / equity

0.3×

Net debt / EBITDA

-0.8×

Interest coverage

23.2×

Current ratio

1.7×

EBITDA

$183M

Tangible book value

$195M

Cash & investments

$229M

Stock comp / revenue

1.0%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-05-19	Thau Daniel Mark	Buy	300	$65.09
2026-04-01	Girardin Steve	Grant	1	—
2026-04-01	Girardin Steve	Grant	2.3K	—
2026-04-01	Thau Daniel Mark	Grant	2.3K	—
2026-04-01	Newman Simon J	Grant	2.3K	—
2026-04-01	Hightower Edward T.	Grant	2.3K	—
2026-04-01	Grimm Douglas J.	Grant	2.3K	—
2026-04-01	Penn Kevin S.	Grant	2.3K	—
2026-04-01	Blaufuss Mark	Grant	2.3K	—
2026-04-01	Fream Julie A	Grant	2.3K	—
2026-03-04	Sanfrey Jeffrey Scott	Option exercise	5.2K	$12.35
2026-03-04	Sanfrey Jeffrey Scott	Sell	5.2K	$58.54
2026-02-19	Radulescu Razvan	Sell	3.9K	$60.98
2025-12-17	Radulescu Razvan	Option exercise	3.5K	$12.35
2025-12-17	Radulescu Razvan	Option exercise	3.5K	$12.35
2025-12-17	Radulescu Razvan	Sell	7.0K	$51.58
2025-12-12	Sanfrey Jeffrey Scott	Tax withheld	549	$50.36
2025-12-12	Scartz Ted	Tax withheld	626	$50.36
2025-12-12	Radulescu Razvan	Tax withheld	2.9K	$50.36
2025-12-12	Horlock Phil	Sell	7.0K	$50.50
2025-12-12	Horlock Phil	Sell	8.3K	$50.35
2025-12-10	Radulescu Razvan	Sell	8.0K	$50.39
2025-12-06	Sanfrey Jeffrey Scott	Tax withheld	753	$51.27
2025-12-06	Scartz Ted	Tax withheld	881	$51.27
2025-12-06	Radulescu Razvan	Tax withheld	3.3K	$51.27
2025-12-04	Thau Daniel Mark	Buy	400	$51.05
2025-12-02	Sanfrey Jeffrey Scott	Tax withheld	780	$50.70
2025-12-02	Sanfrey Jeffrey Scott	Grant	4.1K	—
2025-12-02	Sanfrey Jeffrey Scott	Grant	6.2K	—
2025-12-02	Wyskiel John	Tax withheld	14K	$50.70
2025-12-02	Wyskiel John	Grant	19K	—
2025-12-02	Wyskiel John	Grant	29K	—
2025-12-02	Scartz Ted	Tax withheld	820	$50.70
2025-12-02	Scartz Ted	Grant	5.4K	—
2025-12-02	Scartz Ted	Grant	8.1K	—
2025-12-02	Radulescu Razvan	Tax withheld	2.6K	$50.70
2025-12-02	Radulescu Razvan	Grant	8.9K	—
2025-12-02	Radulescu Razvan	Grant	13K	—
2025-09-12	Horlock Phil	Option exercise	14K	$20.26
2025-09-12	Horlock Phil	Sell	14K	$58.00
2025-09-02	Radulescu Razvan	Sell	6.7K	$57.41
2025-08-28	Horlock Phil	Option exercise	13K	$20.26
2025-08-28	Horlock Phil	Sell	13K	$59.02
2025-08-18	Horlock Phil	Option exercise	21K	$16.99
2025-08-18	Horlock Phil	Sell	21K	$58.16
2025-08-15	Horlock Phil	Sell	21K	$57.18
2025-08-15	Horlock Phil	Option exercise	21K	$16.99
2025-08-13	Horlock Phil	Option exercise	16K	$16.99
2025-08-13	Horlock Phil	Sell	16K	$56.06
2025-08-12	Scartz Ted	Option exercise	5.9K	$12.35
2025-08-12	Scartz Ted	Option exercise	3.0K	$12.35
2025-08-12	Scartz Ted	Sell	8.9K	$55.22
2025-08-08	Radulescu Razvan	Sell	700	$60.02
2025-08-08	Horlock Phil	Sell	30K	$60.00
2025-08-07	Radulescu Razvan	Sell	10K	$53.21
2025-07-08	Radulescu Razvan	Sell	10K	$45.19
2025-07-02	Radulescu Razvan	Tax withheld	3.6K	$45.45
2025-07-01	Radulescu Razvan	Tax withheld	17K	$44.20
2025-07-01	Scartz Ted	Tax withheld	11K	$44.20
2025-06-12	Horlock Phil	Option exercise	15K	$18.10
2025-06-12	Horlock Phil	Sell	15K	$41.38
2025-06-11	Horlock Phil	Option exercise	8.9K	$20.26
2025-06-11	Horlock Phil	Sell	8.9K	$41.77
2025-06-11	Horlock Phil	Option exercise	4.4K	$20.26
2025-06-11	Horlock Phil	Sell	4.4K	$41.55
2025-06-10	Horlock Phil	Sell	8.9K	$41.04
2025-06-10	Horlock Phil	Option exercise	8.9K	$20.26
2025-05-28	Thau Daniel Mark	Buy	400	$39.17
2025-04-01	Penn Kevin S.	Grant	4.1K	—
2025-04-01	Thau Daniel Mark	Grant	4.1K	—
2025-04-01	Newman Simon J	Grant	4.1K	—
2025-04-01	Horlock Phil	Grant	4.1K	—
2025-04-01	Hightower Edward T.	Grant	4.1K	—
2025-04-01	Grimm Douglas J.	Grant	1.5K	—
2025-04-01	Grimm Douglas J.	Grant	4.1K	—
2025-04-01	Fream Julie A	Grant	4.1K	—
2025-04-01	Blaufuss Mark	Grant	4.1K	—
2025-02-28	Horlock Phil	Tax withheld	84K	$35.14
2025-02-18	Wyskiel John	Grant	103K	—
2025-02-18	Thau Daniel Mark	Buy	500	$34.85
2025-02-10	Radulescu Razvan	Option exercise	2.2K	$20.00
2025-02-10	Radulescu Razvan	Sell	2.8K	$38.12

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (1)

RUSH ENTERPRISES INC \TX\

Suppliers (1)

LCI INDUSTRIES

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-05-18	Material agreementExhibits	filing ↗
2026-05-06	ResultsReg FDExhibits	filing ↗
2026-05-04	Exec/director change	filing ↗
2026-04-02	Acquisition/disposition3.02Exec/director change5.03Reg FDExhibits	filing ↗
2026-03-11	Exec/director changeShareholder voteExhibits	filing ↗
2026-02-17	Material agreementReg FDExhibits	filing ↗
2026-02-04	ResultsReg FDExhibits	filing ↗
2025-12-29	Exec/director changeOtherExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-05-18	2026-05-12	0001589526-26-000034 ↗
8-K	2026-05-06	2026-05-06	0001589526-26-000028 ↗
10-Q	2026-05-06	2026-03-28	0001589526-26-000030 ↗
8-K/A	2026-05-04	2026-04-01	0001589526-26-000020 ↗
8-K	2026-04-02	2026-04-01	0001589526-26-000017 ↗
8-K	2026-03-11	2026-03-11	0001589526-26-000013 ↗
8-K	2026-02-17	2026-02-15	0001589526-26-000010 ↗
8-K	2026-02-04	2026-02-04	0001589526-26-000005 ↗
10-Q	2026-02-04	2025-12-27	0001589526-26-000007 ↗
8-K	2025-12-29	2025-12-24	0001589526-25-000103 ↗
10-K	2025-11-24	2025-09-27	0001589526-25-000100 ↗
8-K	2025-11-24	2025-11-24	0001589526-25-000099 ↗