Grizzly Bulls
Financial research concept

Landscape Supply Adjusted EBITDA Margin

measures issuer-defined adjusted EBITDA as a percentage of net sales after gross-profit conversion and operating overhead.

By Lee BaileyPublished Sep 30, 2026
Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date
Sep 30, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context
10 connected conceptsPart of the reviewed Landscape Supply Economics; issuer definitions remain distinct where disclosed.
Company examples
1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.
  1. EBITDA margin captures operating conversion beyond gross profit
  2. The measure is seasonal and non-GAAP
  3. Part of the Landscape Supply Economics
  4. See It in Company Research
  5. Continue Research

Landscape supply adjusted EBITDA margin measures issuer-defined adjusted EBITDA as a percentage of net sales.

SiteOne reported a 15.5% adjusted EBITDA margin in the second quarter of 2026, unchanged from the prior-year quarter.

EBITDA margin captures operating conversion beyond gross profit

The metric reflects the combined effect of product margin, branch-network costs, labor, fuel, corporate expense, and management's non-GAAP adjustments.

That makes it useful for judging whether gross margin gains are surviving the rest of the cost structure.

The measure is seasonal and non-GAAP

SiteOne's sales are materially higher in the second and third quarters, so quarterly margins are not directly comparable across seasons.

Use the issuer's reconciliation and compare the metric with SG&A expense rate rather than treating adjusted EBITDA margin as GAAP operating margin.

Primary source: SiteOne Q2 2026 earnings exhibit.

Part of the Landscape Supply Economics

Connects organic and acquired growth, branch and logistics reach, assortment and supplier breadth, residential end-market exposure, and margin conversion in professional landscape distribution.

Browse the full operating model in Company Analysis →
Where this concept fits
  • Gross profit and operating conversionCurrent relationship
    Gross margin captures merchandise and direct-distribution economics, SG&A rate shows branch-network cost intensity, and adjusted EBITDA margin carries the analysis through issuer-defined operating conversion.
    Adjusted EBITDA MarginCurrent conceptGross MarginSG&A Expense Rate
  • Organic growth, acquisitions, and end-market exposure
    Organic Daily Sales isolates the comparable branch base, acquisition contribution explains portfolio-added growth, and residential construction mix frames an important source of demand sensitivity.
    Acquisition Revenue ContributionOrganic Daily Sales GrowthResidential Construction Sales Mix
  • Distribution reach and assortment depth
    Branches and delivery vehicles define physical reach, while SKU and supplier counts describe the breadth of products and sourcing relationships supporting contractor availability.
    Branch CountDelivery Vehicle CountSKU CountSupplier Count

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

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Compare landscape-supply EBITDA margins

Compare issuer-defined adjusted EBITDA margins while keeping seasonality and non-GAAP reconciliation visible.

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