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Cavco Industries (CVCO) Financials

Cavco Industries logo
$476.59 +13.96 (+3.02%)
Closing price 04:00 PM Eastern
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$476.75 +0.16 (+0.03%)
As of 07:07 PM Eastern
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Annual Income Statements for Cavco Industries

Annual Income Statements for Cavco Industries

This table shows Cavco Industries' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 3/28/2015 4/2/2016 4/1/2017 3/31/2018 3/30/2019 3/28/2020 4/3/2021 4/2/2022 4/1/2023 3/30/2024 3/29/2025
Net Income / (Loss) Attributable to Common Shareholders		 24 29 38 62 69 75 77 198 241 158 171
Consolidated Net Income / (Loss)		 24 29 38 62 69 75 77 198 241 158 171
Net Income / (Loss) Continuing Operations		 24 29 38 62 69 75 77 198 241 158 171
Total Pre-Tax Income 		37 44 55 79 87 93 97 212 307 199 211
Total Operating Income		 38 46 57 74 84 85 89 202 297 179 190
Total Gross Profit		 126 144 158 181 206 231 239 409 555 427 466
Total Revenue		 567 712 774 871 963 1,062 1,108 1,627 2,143 1,795 2,015
Operating Revenue		 567 712 774 871 963 1,062 1,108 1,627 2,143 1,795 2,015
Total Cost of Revenue		 441 568 616 691 757 831 869 1,218 1,588 1,368 1,550
Operating Cost of Revenue		 441 568 616 691 757 831 869 1,218 1,588 1,368 1,550
Total Operating Expenses		 88 98 101 107 122 146 150 206 258 248 275
Selling, General & Admin Expense		 88 98 101 107 122 146 150 206 258 248 275
Total Other Income / (Expense), net		 -1.15 -2.31 -1.53 4.75 2.54 8.07 8.09 9.49 10 20 21
Interest Expense		 4.59 4.36 4.44 4.40 3.44 1.50 0.74 0.70 0.91 1.65 0.52
Interest & Investment Income		 - - - - - - 2.14 3.54 11 21 21
Other Income / (Expense), net		 3.44 2.05 2.92 9.15 5.98 9.57 6.68 6.66 0.39 0.85 0.22
Income Tax Expense		 14 15 17 17 18 18 20 14 66 41 40
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - - 0.00 0.04 0.29 0.09 0.00
Basic Earnings per Share		 $2.69 $3.21 $4.23 $6.82 $7.56 $8.22 $8.34 $21.54 $27.20 $18.55 $20.97
Weighted Average Basic Shares Outstanding		 8.85M 8.89M 8.98M 9.02M 9.08M 9.13M 9.19M 9.18M 8.84M 8.51M 8.16M
Diluted Earnings per Share		 $2.64 $3.15 $4.17 $6.68 $7.40 $8.10 $8.25 $21.34 $26.95 $18.37 $20.71
Weighted Average Diluted Shares Outstanding		 9.02M 9.05M 9.11M 9.20M 9.27M 9.27M 9.29M 9.26M 8.92M 8.59M 8.26M
Weighted Average Basic & Diluted Shares Outstanding		 8.90M 8.90M 9M 9M 9.10M 9.17M 9.18M 8.89M 8.67M 8.28M 8.02M

Quarterly Income Statements for Cavco Industries

This table shows Cavco Industries' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025
Net Income / (Loss) Attributable to Common Shareholders		 46 42 36 34 34 44 56 36 52 52 44
Consolidated Net Income / (Loss)		 46 42 36 34 34 44 56 36 52 52 44
Net Income / (Loss) Continuing Operations		 46 42 36 34 34 44 56 36 52 52 44
Total Pre-Tax Income 		61 52 44 43 44 55 69 43 65 67 58
Total Operating Income		 56 45 40 38 39 49 64 39 60 62 55
Total Gross Profit		 118 107 103 99 103 116 130 116 130 134 136
Total Revenue		 476 452 447 420 478 507 522 508 557 557 581
Operating Revenue		 476 452 447 420 478 507 522 508 557 557 581
Total Cost of Revenue		 358 345 344 321 374 391 392 392 427 422 445
Operating Cost of Revenue		 358 345 344 321 374 391 392 392 427 422 445
Total Operating Expenses		 62 62 63 61 65 67 66 77 69 72 81
Selling, General & Admin Expense		 62 62 63 61 65 67 66 77 69 72 81
Total Other Income / (Expense), net		 4.48 6.21 4.17 5.34 5.31 5.83 5.37 4.29 4.94 5.08 3.04
Interest Expense		 0.27 0.26 0.84 0.28 0.09 0.13 0.16 0.15 0.16 0.11 0.13
Interest & Investment Income		 4.62 5.81 5.23 5.33 5.51 5.69 5.35 4.53 5.10 5.05 2.96
Other Income / (Expense), net		 0.13 0.66 -0.22 0.29 -0.11 0.26 0.17 -0.09 0.00 0.14 0.21
Income Tax Expense		 14 10 7.92 9.00 9.43 11 13 6.59 14 15 14
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - - 0.01 -0.27 0.10 - -0.12 -0.14 0.02
Basic Earnings per Share		 $5.35 $4.80 $4.31 $4.09 $4.15 $5.33 $6.97 $4.52 $6.49 $6.62 $5.65
Weighted Average Basic Shares Outstanding		 8.67M 8.66M 8.36M 8.51M 8.29M 8.23M 8.10M 8.16M 7.95M 7.91M 7.80M
Diluted Earnings per Share		 $5.29 $4.76 $4.27 $4.05 $4.11 $5.28 $6.90 $4.42 $6.42 $6.55 $5.58
Weighted Average Diluted Shares Outstanding		 8.76M 8.73M 8.43M 8.59M 8.37M 8.31M 8.19M 8.26M 8.04M 7.99M 7.89M
Weighted Average Basic & Diluted Shares Outstanding		 8.68M 8.33M 8.35M 8.28M 8.25M 8.11M 8.01M 8.02M 7.92M 7.81M 7.76M

Annual Cash Flow Statements for Cavco Industries

This table details how cash moves in and out of Cavco Industries' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 3/28/2015 4/2/2016 4/1/2017 3/31/2018 3/30/2019 3/28/2020 4/3/2021 4/2/2022 4/1/2023 3/30/2024 3/29/2025
Net Change in Cash & Equivalents		 24 1.17 36 54 0.61 56 84 -80 24 85 6.59
Net Cash From Operating Activities		 26 44 46 59 33 102 114 144 256 225 178
Net Cash From Continuing Operating Activities		 26 44 46 59 33 102 114 144 256 225 178
Net Income / (Loss) Continuing Operations		 24 29 38 62 69 75 77 198 241 158 171
Consolidated Net Income / (Loss)		 24 29 38 62 69 75 77 198 241 158 171
Depreciation Expense		 3.76 3.92 3.69 4.03 4.70 5.78 6.32 11 17 19 19
Non-Cash Adjustments To Reconcile Net Income		 -4.52 6.89 -9.16 -7.28 7.79 2.61 -0.58 255 290 211 207
Changes in Operating Assets and Liabilities, net		 2.65 4.19 13 0.72 -48 18 32 -320 -292 -163 -219
Net Cash From Investing Activities		 -2.10 -38 -7.06 -4.67 -5.82 -25 -23 -159 -129 -32 -24
Net Cash From Continuing Investing Activities		 -2.10 -38 -7.06 -4.67 -5.82 -25 -23 -159 -129 -32 -24
Purchase of Property, Plant & Equipment		 -2.21 -3.52 -5.30 -8.39 -7.64 -14 -26 -19 -44 -17 -21
Acquisitions		 0.00 -28 0.00 -1.64 0.00 -16 0.00 -141 -106 -19 0.00
Purchase of Investments		 -17 -17 -11 -13 -7.34 -12 -18 -13 -13 -13 -28
Sale of Property, Plant & Equipment		 6.04 0.09 0.15 0.47 0.13 6.54 0.24 1.33 1.82 4.81 0.18
Sale and/or Maturity of Investments		 11 10 9.02 17 9.03 10 19 12 31 13 25
Net Cash From Financing Activities		 0.05 -4.15 -2.96 0.12 -26 -21 -6.98 -65 -102 -108 -148
Net Cash From Continuing Financing Activities		 0.05 -4.15 -2.96 0.12 -26 -21 -6.98 -65 -102 -108 -148
Repayment of Debt		 -7.70 -7.51 -8.23 -8.04 -27 -20 -2.79 -9.38 -0.64 -0.49 -0.31
Repurchase of Common Equity		 - - - - 0.00 0.00 -1.44 -60 -103 -109 -149
Payment of Dividends		 - - - - - 0.00 0.00 -0.38 -0.78 -0.42 0.00
Other Financing Activities, net		 4.18 1.98 1.01 -0.92 -0.11 -1.07 -2.82 4.16 2.64 2.51 1.04
Cash Interest Paid		 4.10 3.86 3.40 2.91 2.30 0.74 0.47 0.45 0.62 0.80 0.01
Cash Income Taxes Paid		 7.37 15 18 17 20 19 19 31 82 37 46

Quarterly Cash Flow Statements for Cavco Industries

This table details how cash moves in and out of Cavco Industries' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025
Net Change in Cash & Equivalents		 83 29 -28 2.15 10 7.28 -7.59 -3.28 -6.92 32 -157
Net Cash From Operating Activities		 82 78 46 19 47 55 38 39 56 78 66
Net Cash From Continuing Operating Activities		 82 78 46 19 47 55 38 39 56 78 66
Net Income / (Loss) Continuing Operations		 46 42 36 34 34 44 56 36 52 52 44
Consolidated Net Income / (Loss)		 46 42 36 34 34 44 56 36 52 52 44
Depreciation Expense		 4.57 4.67 4.62 4.67 4.76 4.76 4.78 4.96 5.17 5.33 6.16
Non-Cash Adjustments To Reconcile Net Income		 68 58 47 113 39 53 43 72 51 63 46
Changes in Operating Assets and Liabilities, net		 -36 -26 -42 -133 -30 -47 -67 -75 -52 -42 -30
Net Cash From Investing Activities		 2.09 -8.51 -20 -5.17 -5.35 -5.68 -2.95 -9.98 -7.72 -12 -180
Net Cash From Continuing Investing Activities		 2.09 -8.51 -20 -5.17 -5.35 -5.68 -2.95 -9.98 -7.72 -12 -180
Purchase of Property, Plant & Equipment		 -4.18 -4.29 -4.77 -4.18 -4.98 -4.88 -5.43 -6.14 -9.14 -9.73 -8.49
Purchase of Investments		 -1.71 -4.79 -0.91 -5.62 -4.55 -7.89 -9.16 -6.53 -6.44 -9.15 -3.36
Sale of Property, Plant & Equipment		 4.43 0.06 0.02 0.29 0.01 0.12 0.07 -0.01 0.00 0.04 0.12
Sale and/or Maturity of Investments		 3.55 1.81 3.93 3.84 4.16 6.97 12 2.70 7.86 6.41 3.48
Net Cash From Financing Activities		 -1.49 -41 -54 -11 -32 -42 -42 -32 -55 -35 -44
Net Cash From Continuing Financing Activities		 -1.49 -41 -54 -11 -32 -42 -42 -32 -55 -35 -44
Repayment of Debt		 -0.16 -0.14 -0.15 -0.05 -0.05 -0.13 -0.08 -0.05 -0.05 -0.05 -0.08
Repurchase of Common Equity		 0.00 -41 -56 -13 -29 -43 -42 -34 -50 -36 -44
Other Financing Activities, net		 -1.21 0.48 1.93 1.31 -2.35 1.22 -0.17 2.34 -4.68 1.63 -0.02
Cash Interest Paid		 0.19 0.18 0.24 0.19 0.02 0.01 - -0.02 0.07 0.07 0.07
Cash Income Taxes Paid		 8.12 11 10 7.98 4.72 14 15 11 5.42 9.77 14

Annual Balance Sheets for Cavco Industries

This table presents Cavco Industries' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 3/28/2015 4/2/2016 4/1/2017 3/31/2018 3/30/2019 3/28/2020 4/3/2021 4/2/2022 4/1/2023 3/30/2024 3/29/2025
Total Assets		 503 554 607 675 725 810 952 1,155 1,308 1,354 1,407
Total Current Assets		 265 299 357 419 462 516 652 744 805 852 910
Cash & Equivalents		 97 98 133 187 187 242 322 244 271 353 356
Restricted Cash		 10.00 10 12 11 12 13 17 15 12 - 19
Short-Term Investments		 7.11 10 11 12 13 15 19 20 15 18 20
Note & Lease Receivable		 26 25 39 37 45 47 52 53 105 107 129
Accounts Receivable		 27 29 29 35 41 44 52 96 89 86 106
Inventories, net		 75 95 94 109 116 114 131 244 263 241 253
Prepaid Expenses		 14 22 30 28 45 42 58 72 93 83 75
Plant, Property, & Equipment, net		 45 55 57 63 63 77 97 164 228 224 228
Total Noncurrent Assets		 192 200 194 193 200 217 203 247 333 207 322
Long-Term Investments		 25 29 30 34 32 32 35 35 19 17 18
Noncurrent Note & Lease Receivables		 90 90 83 75 84 81 62 65 143 - 127
Goodwill		 77 80 80 83 73 75 75 101 115 122 122
Intangible Assets		 - - - - 9.78 15 14 28 30 28 17
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - - - 0.00 1.85
Other Noncurrent Operating Assets		 - - - - 0.00 14 16 17 27 39 36
Other Noncurrent Nonoperating Assets		 1.08 1.08 0.72 1.26 0.35 0.34 0.34 0.34 0.34 0.59 0.59
Total Liabilities & Shareholders' Equity		 503 554 607 675 725 810 952 1,155 1,308 1,354 1,407
Total Liabilities		 182 201 213 218 196 203 268 324 330 321 342
Total Current Liabilities		 101 125 140 176 174 172 237 294 293 273 303
Accounts Payable		 18 19 24 24 29 30 32 43 31 34 37
Accrued Expenses		 77 100 110 127 125 140 203 251 263 240 266
Total Noncurrent Liabilities		 81 76 73 41 22 31 31 30 37 47 39
Noncurrent Deferred & Payable Income Tax Liabilities		 21 21 21 7.58 7.00 7.30 7.39 5.53 7.58 4.58 0.00
Other Noncurrent Operating Liabilities		 - - - - 0.00 11 13 24 29 43 39
Total Equity & Noncontrolling Interests		 320 353 394 457 530 608 684 831 978 1,033 1,065
Total Preferred & Common Equity		 320 353 394 457 530 608 684 830 976 1,033 1,065
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 320 353 394 457 530 608 684 830 976 1,033 1,065
Common Stock		 238 242 245 246 250 252 254 263 272 281 291
Retained Earnings		 82 110 148 209 280 355 431 629 869 1,027 1,198
Treasury Stock		 - - - - - 0.00 -1.44 -61 -164 -275 -425
Accumulated Other Comprehensive Income / (Loss)		 0.50 1.29 1.39 1.44 -0.03 0.09 0.10 -0.40 -0.62 -0.33 0.01

Quarterly Balance Sheets for Cavco Industries

This table presents Cavco Industries' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 10/1/2022 12/31/2022 7/1/2023 9/30/2023 12/30/2023 6/29/2024 9/28/2024 12/28/2024 6/28/2025 9/27/2025 12/27/2025
Total Assets		 1,265 1,264 1,353 1,369 1,327 1,381 1,398 1,386 1,420 1,449 1,472
Total Current Assets		 820 833 859 875 833 878 902 878 915 935 817
Cash & Equivalents		 333 376 352 377 353 359 364 363 345 375 225
Restricted Cash		 15 9.91 14 17 13 19 22 15 23 24 17
Short-Term Investments		 16 17 14 14 17 21 25 16 18 17 17
Note & Lease Receivable		 51 48 64 61 63 113 110 106 136 125 134
Accounts Receivable		 97 80 85 89 71 85 94 92 116 116 106
Inventories, net		 234 215 254 244 237 245 244 243 258 258 291
Prepaid Expenses		 74 86 76 73 80 78 83 79 69 65 75
Plant, Property, & Equipment, net		 190 194 224 224 224 225 225 226 232 237 277
Total Noncurrent Assets		 255 238 271 270 269 332 322 340 331 340 437
Long-Term Investments		 38 22 18 21 16 15 13 18 19 24 25
Noncurrent Note & Lease Receivables		 72 71 81 69 66 129 123 137 137 143 137
Goodwill		 101 101 115 116 121 122 122 122 122 122 208
Intangible Assets		 27 27 29 29 29 28 27 27 16 16 29
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - - 1.27 0.00 0.00
Other Noncurrent Operating Assets		 16 17 26 34 37 38 36 35 34 34 38
Other Noncurrent Nonoperating Assets		 0.34 0.34 0.59 0.59 0.59 0.59 0.59 0.59 0.59 0.59 0.59
Total Liabilities & Shareholders' Equity		 1,265 1,264 1,353 1,369 1,327 1,381 1,398 1,386 1,420 1,449 1,472
Total Liabilities		 335 308 329 350 318 342 356 329 355 363 383
Total Current Liabilities		 306 278 293 305 271 296 311 285 317 318 329
Accounts Payable		 43 27 29 41 24 31 39 26 42 44 35
Accrued Expenses		 263 252 265 264 247 265 272 259 275 274 294
Total Noncurrent Liabilities		 29 30 36 44 47 46 45 43 38 45 54
Noncurrent Deferred & Payable Income Tax Liabilities		 6.05 8.66 5.70 5.74 5.79 4.60 4.73 4.64 - 7.26 13
Other Noncurrent Operating Liabilities		 23 21 30 38 41 42 40 39 38 38 41
Total Equity & Noncontrolling Interests		 930 956 1,024 1,019 1,009 1,039 1,042 1,057 1,065 1,086 1,089
Total Preferred & Common Equity		 929 956 1,023 1,019 1,009 1,039 1,042 1,057 1,065 1,086 1,089
Preferred Stock		 0.00 0.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 929 956 1,023 1,019 1,009 1,039 1,042 1,057 1,065 1,086 1,089
Common Stock		 267 269 272 274 278 281 285 287 290 295 298
Retained Earnings		 762 822 916 957 993 1,062 1,105 1,162 1,250 1,302 1,346
Treasury Stock		 -100 -134 -164 -212 -262 -304 -348 -391 -475 -511 -556
Accumulated Other Comprehensive Income / (Loss)		 -0.82 -0.74 -0.66 -0.60 -0.36 -0.28 -0.08 -0.15 0.11 0.22 0.23

Annual Metrics And Ratios for Cavco Industries

This table displays calculated financial ratios and metrics derived from Cavco Industries' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 3/28/2015 4/2/2016 4/1/2017 3/31/2018 3/30/2019 3/28/2020 4/3/2021 4/2/2022 4/1/2023 3/30/2024 3/29/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.25% 25.71% 8.63% 12.59% 10.50% 10.29% 4.36% 46.85% 31.68% -16.24% 12.29%
EBITDA Growth		 24.61% 14.54% 21.21% 37.12% 9.05% 5.74% 1.57% 116.21% 42.57% -36.81% 5.75%
EBIT Growth		 28.37% 15.45% 23.42% 38.84% 8.68% 4.83% 1.09% 119.00% 42.00% -39.45% 5.93%
NOPAT Growth		 15.68% 22.36% 29.83% 48.15% 15.28% 2.91% 2.48% 168.88% 23.28% -39.07% 8.66%
Net Income Growth		 27.32% 19.83% 32.98% 62.04% 11.58% 9.39% 2.10% 157.99% 21.80% -34.44% 8.32%
EPS Growth		 36.08% 19.32% 32.38% 60.19% 10.78% 9.46% 1.85% 158.67% 26.29% -31.84% 12.74%
Operating Cash Flow Growth		 -45.04% 69.44% 5.16% 28.77% -44.31% 209.83% 12.08% 26.48% 77.29% -12.13% -20.56%
Free Cash Flow Firm Growth		 -29.88% -61.74% 246.62% 31.47% -55.81% 179.90% 39.55% -129.23% 51.67% 1,563.99% -54.71%
Invested Capital Growth		 -1.99% 7.56% -0.09% 2.33% 16.10% 1.50% -5.85% 71.16% 47.48% -5.54% 3.42%
Revenue Q/Q Growth		 1.80% 5.33% 2.75% 5.39% -0.15% 1.36% 4.84% 13.93% -1.34% -3.04% 4.58%
EBITDA Q/Q Growth		 5.72% 3.63% 9.33% 19.83% -4.95% -11.08% 15.86% 31.15% -4.50% -7.94% 0.45%
EBIT Q/Q Growth		 6.56% 3.76% 10.13% 20.77% -5.37% -11.96% 17.07% 31.10% -4.88% -8.66% 0.34%
NOPAT Q/Q Growth		 7.54% 3.35% 10.96% 13.92% 0.21% -8.13% -8.04% 18.40% -4.68% -9.07% 1.98%
Net Income Q/Q Growth		 7.90% 3.76% 11.45% 22.39% -3.06% -9.60% 20.85% 16.62% -2.45% -7.84% 1.42%
EPS Q/Q Growth		 5.18% 3.96% 11.20% 22.12% -3.01% -9.80% 20.79% 16.87% -1.39% -6.89% 1.82%
Operating Cash Flow Q/Q Growth		 -31.90% 0.95% 22.86% 91.45% -46.62% 19.98% -8.76% -2.84% 2.95% -3.02% 12.67%
Free Cash Flow Firm Q/Q Growth		 -20.23% -14.77% 23.63% 85.10% -49.47% 17.71% -31.80% 32.26% -106.54% 134.65% 512.83%
Invested Capital Q/Q Growth		 -1.77% -0.57% -1.90% -7.42% 0.20% -4.47% 7.23% 7.78% 43.41% 18.21% -14.62%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 22.26% 20.28% 20.42% 20.74% 21.37% 21.71% 21.57% 25.12% 25.90% 23.79% 23.10%
EBITDA Margin		 8.06% 7.34% 8.19% 9.98% 9.85% 9.44% 9.19% 13.53% 14.65% 11.05% 10.41%
Operating Margin		 6.79% 6.51% 7.34% 8.47% 8.74% 8.00% 8.02% 12.44% 13.84% 9.97% 9.44%
EBIT Margin		 7.40% 6.79% 7.72% 9.52% 9.36% 8.90% 8.62% 12.85% 13.86% 10.02% 9.45%
Profit (Net Income) Margin		 4.20% 4.01% 4.91% 7.06% 7.13% 7.07% 6.92% 12.15% 11.24% 8.80% 8.49%
Tax Burden Percent		 63.81% 64.82% 68.66% 78.32% 79.17% 80.73% 79.09% 93.28% 78.51% 79.28% 81.03%
Interest Burden Percent		 89.06% 90.98% 92.56% 94.70% 96.18% 98.42% 101.47% 101.36% 103.29% 110.76% 110.80%
Effective Tax Rate		 36.19% 35.18% 31.34% 21.68% 20.83% 19.27% 20.91% 6.72% 21.49% 20.72% 18.97%
Return on Invested Capital (ROIC)		 9.82% 11.69% 14.66% 21.47% 22.65% 21.53% 22.56% 46.13% 36.41% 19.14% 24.86%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.15% 13.57% 15.63% 19.10% 21.64% 18.92% 20.65% 43.59% 33.39% 13.08% 20.93%
Return on Net Nonoperating Assets (RNNOA)		 -2.02% -3.22% -4.50% -7.03% -8.74% -8.33% -10.69% -20.02% -9.78% -3.44% -8.55%
Return on Equity (ROE)		 7.80% 8.48% 10.15% 14.45% 13.91% 13.20% 11.87% 26.11% 26.63% 15.70% 16.30%
Cash Return on Invested Capital (CROIC)		 11.83% 4.41% 14.74% 19.16% 7.75% 20.04% 28.59% -6.36% -1.97% 24.84% 21.50%
Operating Return on Assets (OROA)		 8.63% 9.16% 10.29% 12.94% 12.87% 12.30% 10.84% 19.86% 24.12% 13.51% 13.80%
Return on Assets (ROA)		 4.90% 5.40% 6.54% 9.59% 9.80% 9.78% 8.70% 18.77% 19.56% 11.86% 12.39%
Return on Common Equity (ROCE)		 7.80% 8.48% 10.15% 14.45% 13.91% 13.20% 11.87% 26.09% 26.60% 15.70% 16.30%
Return on Equity Simple (ROE_SIMPLE)		 7.44% 8.08% 9.62% 13.45% 12.96% 12.35% 11.21% 23.81% 24.67% 15.28% 16.07%
Net Operating Profit after Tax (NOPAT)		 25 30 39 58 67 69 70 189 233 142 154
NOPAT Margin		 4.33% 4.22% 5.04% 6.63% 6.92% 6.46% 6.34% 11.61% 10.87% 7.91% 7.65%
Net Nonoperating Expense Percent (NNEP)		 -1.33% -1.88% -0.97% 2.38% 1.01% 2.61% 1.91% 2.54% 3.01% 6.06% 3.93%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - - 14.48%
Cost of Revenue to Revenue		 77.74% 79.72% 79.58% 79.26% 78.63% 78.29% 78.43% 74.88% 74.10% 76.21% 76.90%
SG&A Expenses to Revenue		 15.47% 13.77% 13.08% 12.27% 12.63% 13.71% 13.55% 12.68% 12.06% 13.81% 13.66%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 15.47% 13.77% 13.08% 12.27% 12.63% 13.71% 13.55% 12.68% 12.06% 13.81% 13.66%
Earnings before Interest and Taxes (EBIT)		 42 48 60 83 90 94 96 209 297 180 190
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 46 52 63 87 95 100 102 220 314 198 210
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.08 2.35 2.65 3.43 2.02 2.23 3.13 2.69 2.83 3.22 3.87
Price to Tangible Book Value (P/TBV)		 2.73 3.04 3.33 4.20 2.39 2.62 3.60 3.19 3.32 3.77 4.45
Price to Revenue (P/Rev)		 1.17 1.17 1.35 1.80 1.11 1.28 1.93 1.37 1.29 1.86 2.04
Price to Earnings (P/E)		 27.91 29.10 27.58 25.53 15.58 18.08 27.87 11.30 11.48 21.11 24.08
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.58% 3.44% 3.63% 3.92% 6.42% 5.53% 3.59% 8.85% 8.71% 4.74% 4.15%
Enterprise Value to Invested Capital (EV/IC)		 2.40 2.80 3.46 5.09 2.72 3.34 5.81 3.72 3.21 4.06 5.91
Enterprise Value to Revenue (EV/Rev)		 1.05 1.05 1.19 1.59 0.89 1.01 1.58 1.18 1.14 1.63 1.85
Enterprise Value to EBITDA (EV/EBITDA)		 12.99 14.24 14.50 15.95 9.06 10.68 17.24 8.73 7.79 14.76 17.76
Enterprise Value to EBIT (EV/EBIT)		 14.15 15.39 15.39 16.72 9.53 11.34 18.38 9.19 8.24 16.28 19.55
Enterprise Value to NOPAT (EV/NOPAT)		 24.16 24.79 23.57 24.00 12.90 15.62 24.98 10.17 10.51 20.63 24.15
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.08 17.10 20.07 23.51 26.17 10.53 15.39 13.32 9.57 13.03 20.86
Enterprise Value to Free Cash Flow (EV/FCFF)		 20.05 65.80 23.43 26.88 37.70 16.79 19.71 0.00 0.00 15.89 27.93
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.21 0.17 0.15 0.13 0.06 0.02 0.02 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.19 0.16 0.13 0.07 0.03 0.02 0.02 0.00 0.00 0.00 0.00
Financial Leverage		 -0.18 -0.24 -0.29 -0.37 -0.40 -0.44 -0.52 -0.46 -0.29 -0.26 -0.41
Leverage Ratio		 1.59 1.57 1.55 1.51 1.42 1.35 1.36 1.39 1.36 1.32 1.32
Compound Leverage Factor		 1.42 1.43 1.44 1.43 1.36 1.33 1.38 1.41 1.41 1.47 1.46
Debt to Total Capital		 17.30% 14.76% 12.82% 11.57% 6.06% 2.40% 1.75% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 1.70% 1.51% 1.42% 5.04% 3.46% 0.36% 0.27% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 15.59% 13.25% 11.40% 6.53% 2.59% 2.04% 1.49% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.12% 0.00% 0.00%
Common Equity to Total Capital		 82.70% 85.24% 87.18% 88.43% 93.94% 97.60% 98.25% 99.90% 99.88% 100.00% 100.00%
Debt to EBITDA		 1.47 1.17 0.91 0.69 0.36 0.15 0.12 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 -1.57 -1.64 -2.01 -2.11 -2.22 -2.86 -3.74 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 1.32 1.05 0.81 0.39 0.15 0.13 0.10 0.00 0.00 0.00 0.00
Debt to NOPAT		 2.73 2.04 1.49 1.04 0.51 0.22 0.17 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 -2.91 -2.86 -3.27 -3.18 -3.15 -4.18 -5.43 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 2.46 1.83 1.32 0.58 0.22 0.19 0.15 0.00 0.00 0.00 0.00
Altman Z-Score		 4.21 4.71 5.32 6.89 6.03 6.83 7.43 7.38 8.80 9.57 10.81
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.11% 0.06% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.62 2.39 2.54 2.37 2.66 3.00 2.75 2.53 2.74 3.12 3.00
Quick Ratio		 1.55 1.30 1.51 1.53 1.64 2.02 1.88 1.41 1.64 2.03 2.04
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 30 11 39 52 23 64 89 -26 -13 184 133
Operating Cash Flow to CapEx		 0.00% 1,270.96% 889.15% 745.27% 437.17% 1,304.49% 450.77% 832.51% 604.62% 1,780.93% 840.26%
Free Cash Flow to Firm to Interest Expense		 6.45 2.59 8.83 11.73 6.62 42.67 120.64 -37.08 -13.82 111.68 257.93
Operating Cash Flow to Interest Expense		 5.60 9.98 10.31 13.41 9.53 68.05 154.51 205.45 280.98 136.25 345.25
Operating Cash Flow Less CapEx to Interest Expense		 6.44 9.19 9.15 11.61 7.35 62.83 120.24 180.77 234.51 128.60 304.16
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.17 1.35 1.33 1.36 1.38 1.38 1.26 1.54 1.74 1.35 1.46
Accounts Receivable Turnover		 23.73 25.39 26.43 27.02 25.20 25.00 23.17 21.97 23.11 21.56 20.31
Inventory Turnover		 6.07 6.68 6.53 6.80 6.72 7.24 7.10 6.49 6.26 5.42 6.27
Fixed Asset Turnover		 12.19 14.28 13.81 14.48 15.18 15.10 12.74 12.48 10.92 7.93 8.92
Accounts Payable Turnover		 26.62 31.27 28.96 28.90 28.52 28.07 28.01 32.40 43.02 42.57 43.83
Days Sales Outstanding (DSO)		 15.38 14.37 13.81 13.51 14.48 14.60 15.75 16.61 15.79 16.93 17.97
Days Inventory Outstanding (DIO)		 60.10 54.68 55.92 53.65 54.33 50.44 51.40 56.20 58.29 67.31 58.17
Days Payable Outstanding (DPO)		 13.71 11.67 12.60 12.63 12.80 13.00 13.03 11.26 8.48 8.57 8.33
Cash Conversion Cycle (CCC)		 61.77 57.38 57.13 54.53 56.01 52.03 54.12 61.55 65.60 75.66 67.82
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 248 266 266 272 316 321 302 517 762 720 631
Invested Capital Turnover		 2.27 2.77 2.91 3.24 3.27 3.33 3.56 3.97 3.35 2.42 3.25
Increase / (Decrease) in Invested Capital		 -5.03 19 -0.23 6.21 44 4.75 -19 215 245 -42 21
Enterprise Value (EV)		 593 745 919 1,387 859 1,071 1,755 1,921 2,447 2,927 3,724
Market Capitalization		 665 831 1,047 1,570 1,069 1,357 2,136 2,234 2,762 3,331 4,118
Book Value per Share		 $36.14 $39.63 $43.86 $50.58 $58.21 $66.46 $74.37 $90.63 $112.30 $123.81 $132.85
Tangible Book Value per Share		 $27.48 $30.61 $34.96 $41.40 $49.12 $56.59 $64.64 $76.50 $95.70 $105.82 $115.55
Total Capital		 387 414 452 517 564 623 696 831 978 1,033 1,065
Total Debt		 67 61 58 60 34 15 12 0.00 0.00 0.00 0.00
Total Long-Term Debt		 60 55 52 34 15 13 10 0.00 0.00 0.00 0.00
Net Debt		 -72 -86 -128 -184 -210 -286 -381 -314 -317 -404 -394
Capital Expenditures (CapEx)		 -3.83 3.43 5.15 7.91 7.51 7.80 25 17 42 13 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 57 62 68 58 95 76 58 171 213 192 231
Debt-free Net Working Capital (DFNWC)		 171 180 223 268 308 346 417 450 511 579 607
Net Working Capital (NWC)		 164 174 217 242 288 344 415 450 511 579 607
Net Nonoperating Expense (NNE)		 0.73 1.50 1.05 -3.72 -2.01 -6.52 -6.40 -8.86 -7.97 -16 -17
Net Nonoperating Obligations (NNO)		 -73 -87 -128 -185 -214 -287 -382 -314 -215 -313 -434
Total Depreciation and Amortization (D&A)		 3.76 3.92 3.69 4.03 4.70 5.78 6.32 11 17 19 19
Debt-free, Cash-free Net Working Capital to Revenue		 10.04% 8.67% 8.73% 6.71% 9.91% 7.20% 5.24% 10.50% 9.94% 10.70% 11.46%
Debt-free Net Working Capital to Revenue		 30.10% 25.25% 28.81% 30.80% 31.95% 32.62% 37.59% 27.65% 23.86% 32.23% 30.12%
Net Working Capital to Revenue		 28.94% 24.37% 27.99% 27.81% 29.92% 32.41% 37.43% 27.65% 23.86% 32.23% 30.12%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.69 $3.21 $4.23 $6.82 $7.56 $8.22 $8.34 $21.54 $27.20 $18.55 $20.97
Adjusted Weighted Average Basic Shares Outstanding		 8.85M 8.89M 8.98M 9.02M 9.08M 9.13M 9.19M 9.18M 8.84M 8.51M 8.16M
Adjusted Diluted Earnings per Share		 $2.64 $3.15 $4.17 $6.68 $7.40 $8.10 $8.25 $21.34 $26.95 $18.37 $20.71
Adjusted Weighted Average Diluted Shares Outstanding		 9.02M 9.05M 9.11M 9.20M 9.27M 9.27M 9.29M 9.26M 8.92M 8.59M 8.26M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 8.87M 8.94M 9.02M 9.04M 9.10M 9.17M 9.18M 8.89M 8.67M 8.28M 8.02M
Normalized Net Operating Profit after Tax (NOPAT)		 25 30 39 58 67 69 70 189 233 142 154
Normalized NOPAT Margin		 4.33% 4.22% 5.04% 6.63% 6.92% 6.46% 6.34% 11.61% 10.87% 7.91% 7.65%
Pre Tax Income Margin		 6.59% 6.18% 7.14% 9.01% 9.00% 8.76% 8.75% 13.03% 14.32% 11.10% 10.47%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 9.14 11.09 13.44 18.86 26.17 63.19 129.41 297.94 326.37 109.05 368.47
NOPAT to Interest Expense		 5.35 6.89 8.78 13.14 19.34 45.85 95.19 269.07 255.90 86.05 298.23
EBIT Less CapEx to Interest Expense		 9.97 10.31 12.28 17.06 23.99 57.98 95.13 273.26 279.89 101.40 327.38
NOPAT Less CapEx to Interest Expense		 6.19 6.10 7.62 11.34 17.16 40.64 60.91 244.39 209.43 78.40 257.14
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.19% 0.32% 0.27% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.88% 30.33% 43.26% 69.49% 86.93%

Quarterly Metrics And Ratios for Cavco Industries

This table displays calculated financial ratios and metrics derived from Cavco Industries' official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025
DEI Shares Outstanding		 - - - - - - - - - - 7,805,037.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 7,805,037.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 5.65
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -19.12% -21.71% -10.75% -11.81% 0.36% 12.26% 16.85% 21.00% 16.58% 9.67% 11.30%
EBITDA Growth		 -25.84% -46.85% -42.39% -28.67% -29.05% 6.63% 56.16% 2.20% 51.68% 24.95% -11.59%
EBIT Growth		 -27.93% -49.44% -45.66% -31.03% -31.75% 7.11% 62.31% 1.72% 57.02% 26.20% -14.60%
NOPAT Growth		 -27.33% -49.56% -43.08% -32.28% -29.60% 7.09% 59.94% 10.04% 57.75% 23.63% -19.87%
Net Income Growth		 -22.25% -43.97% -39.61% -28.35% -25.82% 5.39% 56.90% 7.06% 50.00% 19.55% -21.95%
EPS Growth		 -20.21% -42.30% -35.89% -25.14% -22.31% 10.92% 61.59% 9.14% 56.20% 24.05% -19.13%
Operating Cash Flow Growth		 41.30% -25.59% -31.67% -27.36% -42.41% -29.81% -17.70% 108.01% 17.15% 43.51% 75.04%
Free Cash Flow Firm Growth		 80.24% -9,247.36% -960.97% 135.71% -77.64% -213.63% -71.88% -93.49% 100.42% 106.51% -68.84%
Invested Capital Growth		 14.42% 11.82% 14.59% -5.54% 15.02% 20.34% 21.25% 3.42% 6.60% 6.09% 23.33%
Revenue Q/Q Growth		 -0.11% -5.01% -1.16% -5.97% 13.68% 6.25% 2.87% -2.62% 9.54% -0.06% 4.40%
EBITDA Q/Q Growth		 2.07% -16.61% -13.08% -3.58% 1.52% 25.33% 27.30% -36.90% 50.66% 3.24% -9.93%
EBIT Q/Q Growth		 2.54% -18.14% -14.30% -4.13% 1.47% 28.47% 29.88% -39.92% 56.62% 3.25% -12.11%
NOPAT Q/Q Growth		 -2.03% -14.91% -10.95% -8.78% 1.85% 29.44% 32.99% -37.23% 46.00% 1.45% -13.80%
Net Income Q/Q Growth		 -2.00% -10.42% -13.44% -5.70% 1.46% 27.26% 28.86% -35.66% 42.15% 1.43% -15.87%
EPS Q/Q Growth		 -2.22% -10.02% -10.29% -5.15% 1.48% 28.47% 30.68% -35.94% 45.25% 2.02% -14.81%
Operating Cash Flow Q/Q Growth		 221.78% -5.33% -41.08% -59.53% 155.10% 15.38% -30.91% 2.30% 43.67% 41.33% -15.73%
Free Cash Flow Firm Q/Q Growth		 82.22% 28.20% -74.83% 259.96% -188.47% -26.77% 4.19% 115.34% -97.74% 1,861.00% -2,585.89%
Invested Capital Q/Q Growth		 -17.96% -5.77% 3.36% 18.21% -0.10% -1.41% 4.14% -14.62% 21.59% -1.88% 21.06%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 24.77% 23.66% 23.07% 23.57% 21.65% 22.88% 24.89% 22.84% 23.26% 24.15% 23.39%
EBITDA Margin		 12.80% 11.23% 9.88% 10.13% 9.05% 10.67% 13.20% 8.56% 11.77% 12.16% 10.49%
Operating Margin		 11.81% 10.05% 8.89% 8.95% 8.07% 9.68% 12.25% 7.60% 10.84% 11.17% 9.39%
EBIT Margin		 11.84% 10.20% 8.84% 9.02% 8.05% 9.73% 12.29% 7.58% 10.84% 11.20% 9.43%
Profit (Net Income) Margin		 9.75% 9.20% 8.05% 8.08% 7.21% 8.63% 10.82% 7.15% 9.27% 9.41% 7.58%
Tax Burden Percent		 76.49% 80.47% 81.96% 79.04% 78.50% 79.74% 81.43% 84.64% 79.09% 77.89% 76.51%
Interest Burden Percent		 107.73% 112.05% 111.11% 113.33% 114.10% 111.27% 108.10% 111.38% 108.18% 107.92% 105.16%
Effective Tax Rate		 23.51% 19.53% 18.04% 20.96% 21.50% 20.26% 18.57% 15.36% 20.91% 22.11% 23.49%
Return on Invested Capital (ROIC)		 31.30% 27.61% 23.66% 17.12% 16.93% 22.02% 28.54% 20.90% 24.16% 25.52% 19.19%
ROIC Less NNEP Spread (ROIC-NNEP)		 30.32% 26.41% 22.83% 15.53% 15.77% 20.80% 27.32% 20.05% 22.90% 24.34% 18.25%
Return on Net Nonoperating Assets (RNNOA)		 -11.38% -11.28% -9.58% -4.08% -5.49% -7.69% -9.50% -8.20% -6.72% -7.62% -4.23%
Return on Equity (ROE)		 19.91% 16.33% 14.08% 13.04% 11.44% 14.32% 19.04% 12.70% 17.45% 17.90% 14.96%
Cash Return on Invested Capital (CROIC)		 23.51% 21.21% 13.76% 24.84% 5.23% 1.82% 3.23% 21.50% 16.72% 18.86% -0.20%
Operating Return on Assets (OROA)		 18.95% 14.76% 12.64% 12.16% 10.58% 13.03% 17.46% 11.07% 16.22% 16.86% 14.53%
Return on Assets (ROA)		 15.61% 13.31% 11.51% 10.89% 9.47% 11.56% 15.37% 10.43% 13.87% 14.17% 11.69%
Return on Common Equity (ROCE)		 19.91% 16.32% 14.08% 13.04% 11.44% 14.32% 19.04% 12.70% 17.45% 17.90% 14.96%
Return on Equity Simple (ROE_SIMPLE)		 22.25% 19.13% 16.99% 0.00% 14.05% 14.22% 15.95% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 43 37 33 30 30 39 52 33 48 48 42
NOPAT Margin		 9.03% 8.09% 7.29% 7.07% 6.34% 7.72% 9.98% 6.43% 8.57% 8.70% 7.18%
Net Nonoperating Expense Percent (NNEP)		 0.97% 1.20% 0.83% 1.60% 1.16% 1.22% 1.22% 0.85% 1.27% 1.19% 0.94%
Return On Investment Capital (ROIC_SIMPLE)		 - - 3.23% - - - 4.93% 3.07% 4.48% 4.46% 3.83%
Cost of Revenue to Revenue		 75.23% 76.34% 76.93% 76.43% 78.35% 77.12% 75.11% 77.16% 76.74% 75.85% 76.60%
SG&A Expenses to Revenue		 12.96% 13.61% 14.17% 14.62% 13.58% 13.20% 12.64% 15.24% 12.42% 12.98% 14.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 12.96% 13.61% 14.17% 14.62% 13.58% 13.20% 12.64% 15.24% 12.42% 12.98% 14.00%
Earnings before Interest and Taxes (EBIT)		 56 46 40 38 38 49 64 39 60 62 55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 61 51 44 43 43 54 69 43 66 68 61
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.50 2.26 2.86 3.22 2.76 3.42 3.40 3.87 3.24 4.17 4.30
Price to Tangible Book Value (P/TBV)		 2.91 2.64 3.36 3.77 3.23 3.99 3.96 4.45 3.73 4.78 5.50
Price to Revenue (P/Rev)		 1.26 1.21 1.56 1.86 1.60 1.92 1.86 2.04 1.65 2.11 2.13
Price to Earnings (P/E)		 11.25 11.84 16.86 21.11 19.65 24.05 21.31 24.08 18.33 23.04 25.41
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 8.89% 8.45% 5.93% 4.74% 5.09% 4.16% 4.69% 4.15% 5.45% 4.34% 3.94%
Enterprise Value to Invested Capital (EV/IC)		 3.45 3.18 4.08 4.06 3.41 4.43 4.31 5.91 3.97 5.44 4.83
Enterprise Value to Revenue (EV/Rev)		 1.06 0.98 1.34 1.63 1.37 1.70 1.65 1.85 1.45 1.91 2.00
Enterprise Value to EBITDA (EV/EBITDA)		 7.38 7.57 11.54 14.76 13.58 17.07 15.23 17.76 13.13 16.66 18.53
Enterprise Value to EBIT (EV/EBIT)		 7.85 8.15 12.63 16.28 15.15 19.01 16.76 19.55 14.35 18.16 20.38
Enterprise Value to NOPAT (EV/NOPAT)		 9.98 10.38 15.94 20.63 19.01 23.85 21.04 24.15 17.75 22.61 25.79
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.72 7.42 10.73 13.03 12.93 18.86 20.08 20.86 16.33 19.45 18.44
Enterprise Value to Free Cash Flow (EV/FCFF)		 15.69 15.84 31.69 15.89 69.78 266.11 146.20 27.93 24.53 29.69 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.38 -0.43 -0.42 -0.26 -0.35 -0.37 -0.35 -0.41 -0.29 -0.31 -0.23
Leverage Ratio		 1.35 1.35 1.32 1.32 1.33 1.34 1.31 1.32 1.33 1.34 1.33
Compound Leverage Factor		 1.46 1.51 1.47 1.50 1.51 1.49 1.42 1.47 1.44 1.44 1.40
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.96% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 7.75 6.94 8.50 9.22 8.00 9.06 9.79 10.46 9.19 10.88 10.64
Noncontrolling Interest Sharing Ratio		 0.04% 0.05% 0.05% 0.06% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.93 2.87 3.07 3.12 2.96 2.90 3.08 3.00 2.88 2.94 2.49
Quick Ratio		 1.76 1.77 1.85 2.03 1.95 1.91 2.02 2.04 1.94 1.99 1.47
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -36 -26 -45 72 -64 -81 -77 12 0.27 5.25 -131
Operating Cash Flow to CapEx		 0.00% 1,841.34% 967.83% 477.22% 954.54% 1,148.28% 703.88% 628.48% 607.61% 809.48% 790.02%
Free Cash Flow to Firm to Interest Expense		 -134.75 -100.14 -53.44 253.43 -707.47 -645.73 -498.95 80.70 1.63 46.90 -996.74
Operating Cash Flow to Interest Expense		 309.37 303.14 54.52 65.42 526.59 437.45 243.72 262.89 338.55 700.63 504.77
Operating Cash Flow Less CapEx to Interest Expense		 310.32 286.68 48.88 51.71 471.42 399.35 209.10 221.06 282.84 614.08 440.88
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.60 1.45 1.43 1.35 1.31 1.34 1.42 1.46 1.50 1.51 1.54
Accounts Receivable Turnover		 21.02 20.55 24.54 21.56 21.14 20.26 23.74 20.31 20.81 20.42 22.27
Inventory Turnover		 5.91 5.97 6.20 5.42 5.55 5.86 6.16 6.27 6.38 6.50 6.32
Fixed Asset Turnover		 9.92 9.21 8.85 7.93 8.01 8.25 8.56 8.92 9.17 9.28 8.76
Accounts Payable Turnover		 40.86 34.09 55.31 42.57 46.09 35.60 59.13 43.83 43.61 39.21 55.22
Days Sales Outstanding (DSO)		 17.36 17.76 14.87 16.93 17.26 18.02 15.37 17.97 17.54 17.87 16.39
Days Inventory Outstanding (DIO)		 61.80 61.17 58.83 67.31 65.77 62.33 59.23 58.17 57.26 56.12 57.76
Days Payable Outstanding (DPO)		 8.93 10.71 6.60 8.57 7.92 10.25 6.17 8.33 8.37 9.31 6.61
Cash Conversion Cycle (CCC)		 70.23 68.22 67.10 75.66 75.12 70.10 68.43 67.82 66.43 64.69 67.54
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 625 589 609 720 719 709 739 631 767 752 911
Invested Capital Turnover		 3.46 3.41 3.25 2.42 2.67 2.85 2.86 3.25 2.82 2.93 2.67
Increase / (Decrease) in Invested Capital		 79 62 78 -42 94 120 129 21 47 43 172
Enterprise Value (EV)		 2,161 1,876 2,487 2,927 2,453 3,141 3,181 3,724 3,047 4,092 4,403
Market Capitalization		 2,557 2,305 2,886 3,331 2,867 3,564 3,594 4,118 3,452 4,533 4,686
Book Value per Share		 $118.10 $117.46 $121.16 $123.81 $125.38 $126.25 $130.41 $132.85 $132.74 $137.18 $139.55
Tangible Book Value per Share		 $101.38 $100.75 $103.22 $105.82 $107.29 $108.15 $112.03 $115.55 $115.50 $119.76 $109.25
Total Capital		 1,024 1,019 1,009 1,033 1,039 1,042 1,057 1,065 1,065 1,086 1,089
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -398 -429 -399 -404 -414 -423 -412 -394 -405 -441 -284
Capital Expenditures (CapEx)		 -0.25 4.23 4.74 3.89 4.97 4.76 5.37 6.15 9.14 9.69 8.37
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 185 161 179 192 183 180 199 231 212 200 229
Debt-free Net Working Capital (DFNWC)		 565 570 562 579 582 590 593 607 598 616 488
Net Working Capital (NWC)		 565 570 562 579 582 590 593 607 598 616 488
Net Nonoperating Expense (NNE)		 -3.43 -5.00 -3.42 -4.22 -4.17 -4.64 -4.37 -3.63 -3.91 -3.95 -2.32
Net Nonoperating Obligations (NNO)		 -399 -430 -400 -313 -319 -333 -319 -434 -298 -334 -178
Total Depreciation and Amortization (D&A)		 4.57 4.67 4.62 4.67 4.76 4.76 4.78 4.96 5.17 5.33 6.16
Debt-free, Cash-free Net Working Capital to Revenue		 9.13% 8.46% 9.67% 10.70% 10.16% 9.73% 10.31% 11.46% 10.14% 9.34% 10.39%
Debt-free Net Working Capital to Revenue		 27.84% 29.92% 30.35% 32.23% 32.37% 31.88% 30.76% 30.12% 28.55% 28.76% 22.16%
Net Working Capital to Revenue		 27.84% 29.92% 30.35% 32.23% 32.37% 31.88% 30.76% 30.12% 28.55% 28.76% 22.16%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $5.35 $4.80 $4.31 $4.09 $4.15 $5.33 $6.97 $4.52 $6.49 $6.62 $5.65
Adjusted Weighted Average Basic Shares Outstanding		 8.67M 8.66M 8.36M 8.51M 8.29M 8.23M 8.10M 8.16M 7.95M 7.91M 7.80M
Adjusted Diluted Earnings per Share		 $5.29 $4.76 $4.27 $4.05 $4.11 $5.28 $6.90 $4.42 $6.42 $6.55 $5.58
Adjusted Weighted Average Diluted Shares Outstanding		 8.76M 8.73M 8.43M 8.59M 8.37M 8.31M 8.19M 8.26M 8.04M 7.99M 7.89M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 8.68M 8.33M 8.35M 8.28M 8.25M 8.11M 8.01M 8.02M 7.92M 7.81M 7.76M
Normalized Net Operating Profit after Tax (NOPAT)		 43 37 33 30 30 39 52 33 48 48 42
Normalized NOPAT Margin		 9.03% 8.09% 7.29% 7.07% 6.34% 7.72% 9.98% 6.43% 8.57% 8.70% 7.18%
Pre Tax Income Margin		 12.75% 11.43% 9.83% 10.22% 9.18% 10.83% 13.28% 8.44% 11.73% 12.08% 9.91%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 211.75 179.40 46.93 133.40 427.11 395.06 413.79 262.16 368.04 556.43 418.11
NOPAT to Interest Expense		 161.60 142.32 38.68 104.62 336.23 313.36 336.08 222.42 291.07 432.39 318.65
EBIT Less CapEx to Interest Expense		 212.69 162.94 41.30 119.69 371.94 356.97 379.17 220.33 312.32 469.88 354.22
NOPAT Less CapEx to Interest Expense		 162.54 125.85 33.05 90.91 281.07 275.27 301.45 180.59 235.35 345.84 254.75
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.29% 0.31% 0.35% 0.27% 0.21% 0.08% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 28.61% 54.36% 74.45% 69.49% 95.31% 95.03% 75.29% 86.93% 89.89% 82.56% 89.00%

Financials Breakdown Chart

Key Financial Trends

MarketBeat overview: Cavco Industries (CVCO) has shown a pattern of revenue recovery and improving profitability in the 2024–2026 period, while sprinting cash outlays for investments. The latest quarter (Q3 2026) features a solid top-line and earnings result, with a healthy balance sheet, but cash flow remains heavily influenced by investing activity. Below are the key takeaways distilled from the last four years of quarterly statements.

  • Revenue recovery to the high-water mark near $581M (Q3 2026). Cavco’s quarterly operating revenue reached $581.0 million in Q3 2026, continuing a trend of rising sales from the pandemic-era troughs in 2023–2024. This marks a meaningful rebound versus earlier 2024 levels (about $508M) and stronger year-over-year than most 2025 quarters.
  • Net income and EPS strengthened in Q3 2026. Net income was $44.1 million in Q3 2026, with basic earnings per share of $5.65 and diluted EPS of $5.58, indicating solid profitability per share alongside higher revenue.
  • Positive operating cash flow in the latest quarter. Net cash from continuing operating activities was about $66.1 million in Q3 2026 (and generally positive in recent quarters), signaling ongoing cash generation from core operations.
  • Solid balance-sheet liquidity and equity cushion. Total assets around $1.47 billion and total equity near $1.09 billion in Q3 2026, with cash & equivalents of roughly $225 million, provide a durable liquidity and capitalization position.
  • Stable gross and operating margins across cycles. Gross profit in Q3 2026 was about $135.9 million on $581.0 million revenue (roughly 23% gross margin), and operating income was about $54.6 million (roughly 9.4% operating margin), reflecting a margin profile that has held generally steady through 2023–2026.
  • Non-cash adjustments often large in cash flow reconciliation. Non-cash adjustments to net income were substantial in several periods (for example, Q3 2026 shows about $46.0 million in non-cash adjustments), which can distort the cash-flow picture when viewed in isolation.
  • Investing cash outflows are meaningful and persistent. Cash used for investing activities (PPE, acquisitions, and investments) remains a primary driver of near-term cash usage, reflecting Cavco’s ongoing capital deployment to support growth and assets’ modernization.
  • Working capital swings impact quarterly cash flow. Changes in operating assets and liabilities (inventory, receivables, payables) have been a recurring component of cash flow, creating periodic volatility in the cash flow statement even as earnings expand.
  • Investing-focused cash outflows continue to dominate free cash flow. Across quarters, net cash from investing activities is typically negative due to capex and acquisitions, which pressures free cash flow generation in the short term.
  • Near-term cash burn risk from sustained capex unless operating cash improves enough to cover investing. The combination of positive operating cash flow but sizable investing outlays means free cash flow remains a point to monitor if investment pace accelerates or if revenue growth slows.
05/14/26 06:42 PM ETAI Generated. May Contain Errors.

Cavco Industries Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cavco Industries' fiscal year ends in March. Their fiscal year 2025 ended on March 29, 2025.

Cavco Industries' net income appears to be on an upward trend, with a most recent value of $171.04 million in 2025, rising from $23.82 million in 2015. The previous period was $157.91 million in 2024. Check out Cavco Industries' forecast to explore projected trends and price targets.

Cavco Industries' total operating income in 2025 was $190.28 million, based on the following breakdown:
  • Total Gross Profit: $465.59 million
  • Total Operating Expenses: $275.32 million

Over the last 10 years, Cavco Industries' total revenue changed from $566.66 million in 2015 to $2.02 billion in 2025, a change of 255.7%.

Cavco Industries' total liabilities were at $342.06 million at the end of 2025, a 6.6% increase from 2024, and a 87.5% increase since 2015.

In the past 10 years, Cavco Industries' cash and equivalents has ranged from $96.60 million in 2015 to $356.23 million in 2025, and is currently $356.23 million as of their latest financial filing in 2025.

Over the last 10 years, Cavco Industries' book value per share changed from 36.14 in 2015 to 132.85 in 2025, a change of 267.6%.


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Financial statements for NASDAQ:CVCO last updated on 2/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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