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Smith Douglas Homes (SDHC) Financials

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$10.04 -0.21 (-2.05%)
As of 01:12 PM Eastern
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Annual Income Statements for Smith Douglas Homes

Annual Income Statements for Smith Douglas Homes

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.00 16 11
Consolidated Net Income / (Loss)		 123 112 68
Net Income / (Loss) Continuing Operations		 123 112 68
Total Pre-Tax Income 		123 117 71
Total Operating Income		 124 119 72
Total Gross Profit		 216 256 212
Total Revenue		 765 975 971
Operating Revenue		 765 975 971
Total Cost of Revenue		 548 720 759
Operating Cost of Revenue		 548 720 759
Total Operating Expenses		 92 136 140
Selling, General & Admin Expense		 92 136 140
Total Other Income / (Expense), net		 -0.71 -2.27 -1.49
Interest Expense		 1.66 2.49 3.19
Interest & Investment Income		 0.93 1.16 2.08
Other Income / (Expense), net		 0.02 -0.94 -0.37
Income Tax Expense		 0.00 5.07 2.49
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 96 58
Basic Earnings per Share		 $0.00 $0.00 $1.19
Weighted Average Basic Shares Outstanding		 0.00 0.00 9.00M
Diluted Earnings per Share		 $0.00 $0.00 $1.19
Weighted Average Diluted Shares Outstanding		 0.00 0.00 9.21M
Weighted Average Basic & Diluted Shares Outstanding		 - 51.43M 51.49M

Quarterly Income Statements for Smith Douglas Homes

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 - 2.97 3.65 5.35 4.11 2.68 2.37 2.13 3.52 0.57 0.25
Consolidated Net Income / (Loss)		 30 20 25 38 29 19 16 16 17 4.06 1.77
Net Income / (Loss) Continuing Operations		 30 20 25 38 29 19 16 16 17 4.06 1.77
Total Pre-Tax Income 		30 21 26 40 30 20 17 17 17 4.32 1.87
Total Operating Income		 30 22 27 40 30 21 17 19 16 4.54 6.01
Total Gross Profit		 58 49 59 74 73 54 52 55 52 40 48
Total Revenue		 217 189 221 278 287 225 224 262 260 206 273
Operating Revenue		 217 189 221 278 287 225 224 262 260 206 273
Total Cost of Revenue		 159 140 162 204 214 171 172 207 209 166 225
Operating Cost of Revenue		 159 140 162 204 214 171 172 207 209 166 225
Total Operating Expenses		 28 28 32 34 43 33 35 36 36 36 42
Selling, General & Admin Expense		 28 28 32 34 43 33 35 36 36 36 42
Total Other Income / (Expense), net		 -0.56 -0.51 -1.38 0.03 -0.40 -0.96 -0.06 -1.65 1.18 -0.22 -4.14
Interest Expense		 0.64 0.70 0.59 0.61 0.59 0.67 0.77 0.90 0.86 0.85 0.64
Interest & Investment Income		 0.28 0.18 0.22 0.40 0.36 0.22 0.60 0.64 0.62 0.53 0.79
Other Income / (Expense), net		 -0.20 0.00 -1.01 0.25 -0.17 -0.52 0.12 -1.39 1.42 0.10 -4.29
Income Tax Expense		 - 0.92 1.13 1.76 1.25 0.86 0.74 1.02 -0.13 0.25 0.10
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 18 21 32 25 16 14 14 14 3.50 1.52
Basic Earnings per Share		 - $0.00 $0.41 $0.60 ($1.35) $0.30 $0.26 $0.24 $0.39 $0.06 $0.03
Weighted Average Basic Shares Outstanding		 0.00 0.00 8.85M 8.85M 0.00 8.97M 9.00M 9.02M 9.00M 9.05M 8.38M
Diluted Earnings per Share		 - $0.00 $0.40 $0.58 ($1.31) $0.30 $0.26 $0.24 $0.39 $0.06 $0.03
Weighted Average Diluted Shares Outstanding		 0.00 0.00 51.43M 51.53M 0.00 9.13M 9.00M 9.06M 9.21M 9.05M 8.38M
Weighted Average Basic & Diluted Shares Outstanding		 0.00 51.28M 51.28M 51.28M 51.43M 51.43M 51.45M 51.45M 51.49M 50.78M 50.83M

Annual Cash Flow Statements for Smith Douglas Homes

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -9.82 2.59 -9.62
Net Cash From Operating Activities		 76 19 -31
Net Cash From Continuing Operating Activities		 76 19 -31
Net Income / (Loss) Continuing Operations		 123 112 68
Consolidated Net Income / (Loss)		 123 112 68
Depreciation Expense		 1.08 1.83 2.55
Amortization Expense		 0.68 0.94 0.94
Non-Cash Adjustments To Reconcile Net Income		 -50 -92 -76
Changes in Operating Assets and Liabilities, net		 1.34 -3.73 -27
Net Cash From Investing Activities		 -77 -4.71 -6.63
Net Cash From Continuing Investing Activities		 -77 -4.71 -6.63
Purchase of Property, Plant & Equipment		 -1.31 -3.89 -5.52
Purchase of Investments		 0.00 -0.86 -1.14
Other Investing Activities, net		 0.02 0.04 0.03
Net Cash From Financing Activities		 -9.25 -12 28
Net Cash From Continuing Financing Activities		 -9.25 -12 28
Repayment of Debt		 -95 -162 -169
Repurchase of Common Equity		 0.00 -5.14 0.00
Payment of Dividends		 -79 -40 -28
Issuance of Debt		 150 87 205
Issuance of Common Equity		 0.00 173 0.00
Other Financing Activities, net		 14 -64 21
Cash Interest Paid		 0.67 1.74 1.96
Cash Income Taxes Paid		 0.00 4.30 3.59

Quarterly Cash Flow Statements for Smith Douglas Homes

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 9.34 13 -15 6.42 -1.35 -9.71 4.13 -2.00 -2.03 15 -14
Net Cash From Operating Activities		 21 -9.27 0.04 23 5.48 -35 -29 23 9.76 0.34 4.51
Net Cash From Continuing Operating Activities		 21 -9.27 0.04 23 5.48 -35 -29 23 9.76 0.34 4.51
Net Income / (Loss) Continuing Operations		 30 20 25 38 29 19 16 16 17 4.06 1.77
Consolidated Net Income / (Loss)		 30 20 25 38 29 19 16 16 17 4.06 1.77
Depreciation Expense		 0.28 0.34 0.37 0.42 0.70 0.49 0.58 0.70 0.78 0.86 0.92
Amortization Expense		 0.17 0.30 0.22 0.22 0.22 0.22 0.23 0.24 0.24 0.24 0.16
Non-Cash Adjustments To Reconcile Net Income		 -11 -22 -30 -25 -15 -34 -56 0.91 13 -21 -5.09
Changes in Operating Assets and Liabilities, net		 1.77 -8.50 4.52 9.63 -9.33 -21 9.81 4.69 -21 16 6.75
Net Cash From Investing Activities		 -1.20 -0.43 -2.72 -0.63 -0.93 -2.11 -2.12 -1.35 -1.06 -0.57 -0.59
Net Cash From Continuing Investing Activities		 -1.20 -0.43 -2.72 -0.63 -0.93 -2.11 -2.12 -1.35 -1.06 -0.57 -0.59
Purchase of Property, Plant & Equipment		 -0.20 -0.44 -2.14 -0.64 -0.68 -1.04 -2.12 -1.36 -1.01 -0.54 -0.60
Other Investing Activities, net		 - 0.01 0.02 0.01 0.01 0.02 0.00 0.01 - 0.00 0.01
Net Cash From Financing Activities		 -11 23 -13 -16 -5.90 27 35 -23 -11 15 -18
Net Cash From Continuing Financing Activities		 -11 23 -13 -16 -5.90 27 35 -23 -11 15 -18
Repayment of Debt		 -18 -87 -11 -36 -27 -26 -57 -35 -51 -52 -58
Repurchase of Common Equity		 - -6.26 -0.61 - 1.73 0.00 - - - -5.70 -4.41
Payment of Dividends		 -8.56 -16 -12 -11 -0.62 -14 -9.74 -4.40 -0.39 -7.07 -1.86
Issuance of Debt		 17 13 11 36 27 66 83 15 41 76 55
Other Financing Activities, net		 -1.52 -53 0.02 -4.19 -6.62 1.67 19 1.44 -0.78 3.82 -8.74
Cash Interest Paid		 0.42 0.90 0.04 0.41 0.39 0.27 0.36 0.67 0.66 1.93 -0.98
Cash Income Taxes Paid		 - 0.00 1.80 1.16 1.34 0.23 1.10 2.17 0.08 0.01 0.96

Annual Balance Sheets for Smith Douglas Homes

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 353 476 558
Total Current Assets		 20 22 13
Cash & Equivalents		 20 22 13
Plant, Property, & Equipment, net		 1.54 3.78 9.72
Total Noncurrent Assets		 331 450 535
Goodwill		 26 26 26
Noncurrent Deferred & Refundable Income Taxes		 0.00 11 9.67
Other Noncurrent Operating Assets		 306 413 500
Total Liabilities & Shareholders' Equity		 353 476 558
Total Liabilities		 144 74 113
Total Current Liabilities		 51 55 31
Accounts Payable		 17 17 1.94
Accrued Expenses		 27 32 26
Customer Deposits		 7.17 5.30 3.11
Total Noncurrent Liabilities		 92 19 82
Long-Term Debt		 76 3.06 44
Noncurrent Deferred & Payable Income Tax Liabilities		 0.00 10 9.86
Other Noncurrent Operating Liabilities		 17 5.83 28
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.00 402 444
Total Preferred & Common Equity		 0.00 74 87
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 209 74 87
Common Stock		 209 58 61
Retained Earnings		 0.00 15 26
Treasury Stock		 - - 0.00
Noncontrolling Interest		 0.00 328 357

Quarterly Balance Sheets for Smith Douglas Homes

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

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 401 429 460 514 570 572 600 592
Total Current Assets		 33 17 24 13 17 15 28 14
Cash & Equivalents		 33 17 24 13 17 15 28 14
Plant, Property, & Equipment, net		 1.63 3.35 3.57 4.32 8.86 9.51 9.40 9.21
Total Noncurrent Assets		 367 409 433 497 545 547 563 569
Goodwill		 26 26 26 26 26 26 26 26
Noncurrent Deferred & Refundable Income Taxes		 13 11 11 11 11 10 9.64 9.61
Other Noncurrent Operating Assets		 328 372 396 460 508 511 527 533
Total Liabilities & Shareholders' Equity		 401 429 460 514 570 572 600 592
Total Liabilities		 68 85 88 107 155 145 164 159
Total Current Liabilities		 40 57 64 46 45 52 53 59
Accounts Payable		 12 21 24 20 16 21 23 27
Accrued Expenses		 19 26 33 21 23 26 25 27
Customer Deposits		 8.99 9.54 7.61 5.59 5.90 5.16 5.07 6.03
Total Noncurrent Liabilities		 28 28 23 61 111 93 111 100
Long-Term Debt		 4.25 3.86 3.46 43 74 54 69 66
Noncurrent Deferred & Payable Income Tax Liabilities		 10 10 10 10 10 10 9.38 9.38
Other Noncurrent Operating Liabilities		 14 14 9.45 7.50 26 29 33 24
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 333 345 372 407 415 426 436 433
Total Preferred & Common Equity		 60 62 68 77 80 82 82 79
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 60 62 68 77 80 82 82 79
Common Stock		 57 56 57 59 60 60 61 62
Retained Earnings		 2.97 6.32 11 18 20 23 27 27
Treasury Stock		 - - - - - - -5.70 -9.59
Noncontrolling Interest		 273 282 304 330 335 344 354 353

Annual Metrics And Ratios for Smith Douglas Homes

This table displays calculated financial ratios and metrics derived from Smith Douglas Homes' official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - 51,453,535.00
DEI Adjusted Shares Outstanding		 - - 51,453,535.00
DEI Earnings Per Adjusted Shares Outstanding		 - - 0.21
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 124 114 70
Return On Investment Capital (ROIC_SIMPLE)		 163.81% 28.16% 14.31%
Earnings before Interest and Taxes (EBIT)		 124 118 72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 126 121 76
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -3.67 -23
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 265 382 475
Increase / (Decrease) in Invested Capital		 0.00 118 93
Book Value per Share		 $27.16 $1.44 $1.69
Tangible Book Value per Share		 $23.81 $0.93 $1.19
Total Capital		 76 405 488
Total Debt		 76 3.06 44
Total Long-Term Debt		 76 3.06 44
Net Debt		 56 -19 31
Capital Expenditures (CapEx)		 1.31 3.89 5.52
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -51 -55 -31
Debt-free Net Working Capital (DFNWC)		 -32 -33 -19
Net Working Capital (NWC)		 -32 -33 -19
Net Nonoperating Expense (NNE)		 0.71 2.17 1.44
Net Nonoperating Obligations (NNO)		 265 -19 31
Total Depreciation and Amortization (D&A)		 1.76 2.77 3.49
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $1.19
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 9.00M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $1.19
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 9.21M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 51.43M 51.49M
Normalized Net Operating Profit after Tax (NOPAT)		 87 114 70
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Smith Douglas Homes

This table displays calculated financial ratios and metrics derived from Smith Douglas Homes' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 51,453,535.00 51,487,200.00 50,783,154.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 51,453,535.00 51,487,200.00 50,783,154.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.07 0.01 0.00
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 12.53% 21.71% 40.58% 32.28% 18.77% 1.35% -5.68% - -8.13% 21.93%
EBITDA Growth		 0.00% -22.95% -14.15% 16.70% 2.23% -8.14% -32.27% -54.40% - -72.32% -84.59%
EBIT Growth		 0.00% -24.05% -14.86% 16.43% 0.74% -8.70% -33.86% -56.05% - -76.84% -90.08%
NOPAT Growth		 0.00% -27.01% -15.32% 10.72% -3.54% -6.41% -36.71% -53.00% - -78.24% -65.52%
Net Income Growth		 0.00% -28.93% -19.54% 11.47% -3.02% -8.67% -33.55% -57.13% - -78.29% -89.24%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -35.00% -58.62% - -80.00% -88.46%
Operating Cash Flow Growth		 0.00% -134.92% -99.58% 20.11% -74.29% -276.42% -74,310.26% -0.59% - 100.97% 115.59%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 60.18% 59.18% 69.64% - 69.03% 94.42%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 44.45% 43.53% 42.59% 32.15% - 8.98% 2.68%
Revenue Q/Q Growth		 9.96% 0.00% 16.77% 25.76% 3.47% -21.83% -0.36% 17.02% - -20.73% 32.25%
EBITDA Q/Q Growth		 -12.00% 0.00% 18.89% 50.77% -22.91% -33.52% -12.34% 1.50% - -68.45% -51.19%
EBIT Q/Q Growth		 -12.13% 0.00% 19.69% 51.71% -23.97% -33.86% -13.30% 0.81% - -72.98% -62.86%
NOPAT Q/Q Growth		 -11.42% 0.00% 24.22% 45.06% -22.84% -32.69% -16.00% 7.72% - -73.06% 33.06%
Net Income Q/Q Growth		 -12.53% 0.00% 20.74% 52.92% -23.90% -35.00% -12.16% -1.34% - -76.17% -56.47%
EPS Q/Q Growth		 0.00% 0.00% 21.21% 45.00% -325.86% 122.90% -13.33% -7.69% - -84.62% -50.00%
Operating Cash Flow Q/Q Growth		 11.77% 0.00% 100.42% 58,589.74% -76.07% -737.30% 17.08% 178.62% - -96.54% 1,234.91%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -7.57% -3.03% 71.84% -27.61% -10.26% 23.37% - 54.69% 80.12%
Invested Capital Q/Q Growth		 0.00% 0.00% 8.71% 6.34% 8.61% 14.31% 8.00% -1.45% - 0.20% 1.76%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 26.69% 26.14% 26.73% 26.52% 25.51% 23.82% 23.19% 20.98% - 19.59% 17.55%
EBITDA Margin		 14.03% 11.92% 12.14% 14.55% 10.84% 9.22% 8.11% 7.04% - 2.78% 1.03%
Operating Margin		 13.91% 11.58% 12.33% 14.24% 10.59% 9.14% 7.70% 7.21% - 2.20% 2.20%
EBIT Margin		 13.82% 11.59% 11.88% 14.33% 10.53% 8.91% 7.75% 6.68% - 2.25% 0.63%
Profit (Net Income) Margin		 13.66% 10.83% 11.20% 13.61% 10.01% 8.33% 7.34% 6.19% - 1.97% 0.65%
Tax Burden Percent		 100.00% 95.70% 95.62% 95.55% 95.84% 95.62% 95.67% 94.08% - 94.14% 94.65%
Interest Burden Percent		 98.80% 97.66% 98.59% 99.45% 99.26% 97.77% 99.00% 98.53% - 93.08% 108.48%
Effective Tax Rate		 0.00% 4.30% 4.38% 4.45% 4.17% 4.38% 4.33% 5.92% - 5.86% 5.35%
Return on Invested Capital (ROIC)		 40.18% 0.00% 0.00% 0.00% 30.58% 23.81% 18.59% 16.56% - 4.32% 4.36%
ROIC Less NNEP Spread (ROIC-NNEP)		 39.97% 0.00% 0.00% 0.00% 30.27% -101.94% 18.34% -0.09% - 3.72% -2.82%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 18.50% -0.20% 1.06% 0.00% - 0.31% -0.36%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 49.08% 23.61% 19.65% 16.55% - 4.63% 4.00%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% -1.14% -5.37% -9.45% -7.37% - 3.34% 6.51%
Operating Return on Assets (OROA)		 29.97% 0.00% 0.00% 0.00% 24.78% 19.68% 15.72% 12.92% - 3.84% 1.09%
Return on Assets (ROA)		 29.61% 0.00% 0.00% 0.00% 23.57% 18.39% 14.89% 11.97% - 3.37% 1.12%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 34.52% 4.36% 3.68% 3.12% - 0.87% 0.75%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 143.18% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 30 21 26 38 29 20 16 18 16 4.27 5.69
NOPAT Margin		 13.91% 11.09% 11.79% 13.60% 10.15% 8.74% 7.36% 6.78% - 2.07% 2.08%
Net Nonoperating Expense Percent (NNEP)		 0.21% -3.43% -19.68% 0.25% 0.31% 125.75% 0.25% 16.64% - 0.60% 7.18%
Return On Investment Capital (ROIC_SIMPLE)		 39.98% - - - 7.21% 4.36% 3.37% 3.70% 3.25% 0.85% 1.14%
Cost of Revenue to Revenue		 73.31% 73.86% 73.27% 73.48% 74.49% 76.18% 76.81% 79.02% - 80.41% 82.45%
SG&A Expenses to Revenue		 12.78% 14.56% 14.40% 12.29% 14.92% 14.68% 15.50% 13.77% - 17.40% 15.35%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Expenses to Revenue		 12.78% 14.56% 14.40% 12.29% 14.92% 14.68% 15.50% 13.77% - 17.40% 15.35%
Earnings before Interest and Taxes (EBIT)		 30 22 26 40 30 20 17 17 17 4.64 1.72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 30 23 27 40 31 21 18 18 18 5.74 2.80
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.77 3.83 19.31 28.31 17.86 13.06 12.49 11.06 - 8.03 9.93
Price to Tangible Book Value (P/TBV)		 0.88 6.72 32.96 45.36 27.45 19.63 18.41 16.10 - 11.70 14.69
Price to Revenue (P/Rev)		 0.21 0.00 0.00 0.00 1.35 0.99 0.99 0.91 - 0.69 0.79
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 81.82 63.61 68.88 80.56 - 76.85 122.22
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 1.22% 1.57% 1.45% 1.24% - 1.30% 0.82%
Enterprise Value to Invested Capital (EV/IC)		 0.82 1.55 4.43 6.31 4.25 3.12 2.95 2.78 - 2.21 2.46
Enterprise Value to Revenue (EV/Rev)		 0.28 0.00 0.00 0.00 1.66 1.35 1.37 1.29 - 1.11 1.19
Enterprise Value to EBITDA (EV/EBITDA)		 1.73 0.00 0.00 0.00 13.42 11.45 12.59 14.60 - 17.40 26.45
Enterprise Value to EBIT (EV/EBIT)		 1.75 0.00 0.00 0.00 13.73 11.73 12.95 15.18 - 18.60 29.13
Enterprise Value to NOPAT (EV/NOPAT)		 1.75 0.00 0.00 0.00 14.24 12.11 13.49 15.55 - 19.33 27.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 2.85 0.00 0.00 0.00 84.87 0.00 0.00 0.00 - 269.68 31.97
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 69.13 38.36
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.01 0.01 0.01 0.01 0.10 0.18 0.13 - 0.16 0.15
Long-Term Debt to Equity		 0.00 0.01 0.01 0.01 0.01 0.10 0.18 0.13 - 0.16 0.15
Financial Leverage		 0.00 -0.09 -0.04 -0.05 0.61 0.00 0.06 0.02 - 0.08 0.13
Leverage Ratio		 0.00 1.20 1.25 1.24 2.06 1.24 1.32 1.29 - 1.32 1.37
Compound Leverage Factor		 0.00 1.18 1.23 1.23 2.05 1.21 1.30 1.27 - 1.23 1.49
Debt to Total Capital		 100.00% 1.26% 1.11% 0.92% 0.76% 9.48% 15.15% 11.17% - 13.58% 13.23%
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%
Long-Term Debt to Total Capital		 100.00% 1.26% 1.11% 0.92% 0.76% 9.48% 15.15% 11.17% - 13.58% 13.23%
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%
Noncontrolling Interests to Total Capital		 0.00% 81.04% 81.07% 80.87% 81.05% 73.43% 68.49% 71.71% - 70.15% 70.84%
Common Equity to Total Capital		 276.23% 17.70% 17.82% 18.21% 18.19% 17.09% 16.36% 17.12% - 16.27% 15.93%
Debt to EBITDA		 0.60 0.00 0.00 0.00 0.03 0.36 0.67 0.61 - 1.13 1.46
Net Debt to EBITDA		 0.44 0.00 0.00 0.00 -0.16 0.25 0.52 0.44 - 0.67 1.15
Long-Term Debt to EBITDA		 0.60 0.00 0.00 0.00 0.03 0.36 0.67 0.61 - 1.13 1.46
Debt to NOPAT		 0.61 0.00 0.00 0.00 0.03 0.38 0.72 0.65 - 1.26 1.51
Net Debt to NOPAT		 0.45 0.00 0.00 0.00 -0.17 0.27 0.56 0.47 - 0.74 1.18
Long-Term Debt to NOPAT		 0.61 0.00 0.00 0.00 0.03 0.38 0.72 0.65 - 1.26 1.51
Altman Z-Score		 3.02 2.18 8.61 13.47 12.86 7.71 5.73 5.58 - 4.03 4.65
Noncontrolling Interest Sharing Ratio		 0.00% 82.07% 81.98% 81.62% 29.67% 81.55% 81.29% 81.15% - 81.15% 81.19%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.39 0.82 0.30 0.37 0.41 0.27 0.37 0.28 - 0.52 0.24
Quick Ratio		 0.39 0.82 0.30 0.37 0.41 0.27 0.37 0.28 - 0.52 0.24
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -284 -305 -314 -89 -113 -125 -95 -77 -35 -6.95
Operating Cash Flow to CapEx		 10,440.69% -2,131.72% 1.82% 3,587.62% 810.21% -3,372.46% -1,364.55% 1,677.95% - 62.59% 753.26%
Free Cash Flow to Firm to Interest Expense		 0.00 -406.32 -516.18 -511.90 -151.03 -169.59 -161.31 -106.28 - -41.24 -10.87
Operating Cash Flow to Interest Expense		 33.49 -13.29 0.07 37.28 9.35 -52.41 -37.49 25.34 - 0.40 7.05
Operating Cash Flow Less CapEx to Interest Expense		 33.17 -13.91 -3.55 36.24 8.19 -53.96 -40.24 23.83 - -0.24 6.11
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.17 0.00 0.00 0.00 2.35 2.21 2.03 1.94 - 1.71 1.72
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Fixed Asset Turnover		 495.55 0.00 0.00 0.00 366.85 339.77 166.10 152.67 - 138.90 110.93
Accounts Payable Turnover		 31.66 0.00 0.00 0.00 41.67 47.82 40.85 34.27 - 34.92 37.73
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Days Payable Outstanding (DPO)		 11.53 0.00 0.00 0.00 8.76 7.63 8.94 10.65 - 10.45 9.67
Cash Conversion Cycle (CCC)		 -11.53 0.00 0.00 0.00 -8.76 -7.63 -8.94 -10.65 - -10.45 -9.67
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 265 305 331 352 382 437 472 465 475 476 485
Invested Capital Turnover		 2.89 0.00 0.00 0.00 3.01 2.73 2.52 2.44 - 2.09 2.09
Increase / (Decrease) in Invested Capital		 0.00 305 331 352 118 133 141 113 93 39 13
Enterprise Value (EV)		 217 473 1,468 2,221 1,624 1,364 1,391 1,292 - 1,053 1,194
Market Capitalization		 162 228 1,199 1,937 1,315 1,004 999 909 - 659 789
Book Value per Share		 $27.16 $6.75 $1.21 $1.33 $1.44 $1.49 $1.56 $1.60 $1.69 $1.59 $1.56
Tangible Book Value per Share		 $23.81 $3.84 $0.71 $0.83 $0.93 $0.99 $1.06 $1.10 $1.19 $1.09 $1.06
Total Capital		 76 337 348 376 405 450 489 480 488 504 499
Total Debt		 76 4.25 3.86 3.46 3.06 43 74 54 44 69 66
Total Long-Term Debt		 76 4.25 3.86 3.46 3.06 43 74 54 44 69 66
Net Debt		 56 -29 -13 -20 -19 30 57 39 31 41 52
Capital Expenditures (CapEx)		 0.20 0.44 2.14 0.64 0.68 1.04 2.12 1.36 1.01 0.54 0.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -51 -40 -57 -64 -55 -46 -45 -52 -31 -53 -59
Debt-free Net Working Capital (DFNWC)		 -32 -7.09 -40 -41 -33 -34 -28 -37 -19 -25 -45
Net Working Capital (NWC)		 -32 -7.09 -40 -41 -33 -34 -28 -37 -19 -25 -45
Net Nonoperating Expense (NNE)		 0.56 0.49 1.32 -0.03 0.38 0.92 0.06 1.55 -1.19 0.21 3.92
Net Nonoperating Obligations (NNO)		 265 -29 -13 -20 -19 30 57 39 31 41 52
Total Depreciation and Amortization (D&A)		 0.45 0.64 0.58 0.63 0.91 0.71 0.81 0.94 1.03 1.10 1.08
Debt-free, Cash-free Net Working Capital to Revenue		 -6.72% 0.00% 0.00% 0.00% -5.63% -4.57% -4.42% -5.23% - -5.61% -5.94%
Debt-free Net Working Capital to Revenue		 -4.13% 0.00% 0.00% 0.00% -3.33% -3.32% -2.76% -3.75% - -2.67% -4.52%
Net Working Capital to Revenue		 -4.13% 0.00% 0.00% 0.00% -3.33% -3.32% -2.76% -3.75% - -2.67% -4.52%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.34 $0.41 $0.60 ($1.35) $0.30 $0.26 $0.24 $0.39 $0.06 $0.03
Adjusted Weighted Average Basic Shares Outstanding		 0.00 8.85M 8.85M 8.85M 0.00 8.97M 9.00M 9.02M 9.00M 9.05M 8.38M
Adjusted Diluted Earnings per Share		 $0.00 $0.33 $0.40 $0.58 ($1.31) $0.30 $0.26 $0.24 $0.39 $0.06 $0.03
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 51.41M 51.43M 51.53M 0.00 9.13M 9.00M 9.06M 9.21M 9.05M 8.38M
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		 0.00 51.28M 51.28M 51.28M 51.43M 51.43M 51.45M 51.45M 51.49M 50.78M 50.83M
Normalized Net Operating Profit after Tax (NOPAT)		 21 21 26 38 29 20 16 18 11 4.27 5.69
Normalized NOPAT Margin		 9.74% 11.09% 11.79% 13.60% 10.15% 8.74% 7.36% 6.78% - 2.07% 2.08%
Pre Tax Income Margin		 13.66% 11.31% 11.71% 14.25% 10.45% 8.71% 7.67% 6.58% - 2.09% 0.68%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 47.23 31.41 44.39 64.83 51.64 30.05 22.48 19.48 - 5.47 2.69
NOPAT to Interest Expense		 47.54 30.05 44.09 61.56 49.77 29.48 21.36 19.78 - 5.04 8.88
EBIT Less CapEx to Interest Expense		 46.91 30.78 40.78 63.79 50.49 28.50 19.73 17.97 - 4.83 1.75
NOPAT Less CapEx to Interest Expense		 47.22 29.43 40.47 60.52 48.62 27.92 18.61 18.27 - 4.40 7.95
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 63.96% 0.00% 0.00% 0.00% 35.73% 34.15% 34.88% 35.73% - 40.16% 35.08%
Augmented Payout Ratio		 63.96% 0.00% 0.00% 0.00% 40.32% 33.12% 33.18% 33.56% - 50.76% 60.96%

Financials Breakdown Chart

Key Financial Trends

Smith Douglas Homes (NYSE: SDHC) has continued to grow its top line, but profitability has weakened considerably. Q2 2026 revenue increased to $273.0 million, up 21.9% from Q2 2025 and 51.7% from Q2 2023. However, gross margin fell to approximately 17.6% from 23.2% a year earlier and 29.0% in Q2 2023. Operating income was only $6.0 million, producing a 2.2% operating margin.

The decline in earnings available to common shareholders is especially important. Consolidated net income was $1.8 million in Q2 2026, but $1.5 million was attributable to noncontrolling interests, leaving just $246,000 for common shareholders, or $0.03 per share. This compares with $2.4 million, or $0.26 per share, in Q2 2025. The data also includes several restated periods, so investors should rely on the company’s latest filings when comparing historical results.

  • Revenue growth remains strong: Q2 revenue rose from $181.5 million in 2023 to $273.0 million in 2026, indicating continued expansion in home deliveries or the company’s operating footprint.
  • Operating cash flow improved year over year: Cash generated from operations increased to $4.5 million in Q2 2026 from negative $28.9 million in Q2 2025 and $338,000 in Q1 2026.
  • Debt declined modestly during Q2: Long-term debt fell to $66.0 million from $68.5 million at the end of Q1 2026 and $74.1 million in Q2 2025.
  • Share repurchases continued: The company repurchased $4.4 million of common equity in Q2 2026, following $5.7 million of repurchases in Q1. These transactions can support per-share value if profitability improves.
  • The balance sheet has expanded: Total assets increased to $592.1 million in Q2 2026 from $401.3 million in Q1 2024, with other noncurrent operating assets reaching $533.4 million. Investors should monitor how efficiently these assets generate home-sale revenue and cash.
  • Capital allocation is active but volatile: The company issued $55.0 million of debt and repaid $57.7 million in Q2, while also paying $1.9 million in dividends. These financing flows can materially affect quarterly cash balances.
  • Gross-margin pressure is persistent: Gross margin declined from 29.0% in Q2 2023 to 26.7% in Q2 2024, 23.2% in Q2 2025 and 17.6% in Q2 2026. This suggests rising construction costs, pricing pressure, product mix changes or other cost challenges.
  • Operating profitability has deteriorated: Operating income fell to $6.0 million in Q2 2026 from $17.2 million in Q2 2025 and $27.2 million in Q2 2024, despite higher revenue.
  • Common-shareholder earnings are being heavily reduced by noncontrolling interests: Noncontrolling interests received $1.5 million of Q2 2026 net income, or most of the company’s $1.8 million consolidated profit. This limits the benefit of company-wide growth for SDHC common shareholders.
  • Liquidity remains a concern: Cash and equivalents declined to $14.2 million at June 30, 2026, from $28.0 million at March 31, 2026. The quarterly cash decline occurred despite positive operating cash flow, largely because of debt repayment, share repurchases, dividends and other financing uses.
09/18/26 01:42 PM ETAI Generated. May Contain Errors.

Smith Douglas Homes Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Smith Douglas Homes' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Smith Douglas Homes' net income appears to be on a downward trend, with a most recent value of $68.41 million in 2025, falling from $123.18 million in 2023. The previous period was $111.83 million in 2024. See where experts think Smith Douglas Homes is headed by visiting Smith Douglas Homes' forecast page.

Smith Douglas Homes' total operating income in 2025 was $72.39 million, based on the following breakdown:
  • Total Gross Profit: $212.17 million
  • Total Operating Expenses: $139.78 million

Over the last 2 years, Smith Douglas Homes' total revenue changed from $764.63 million in 2023 to $971.12 million in 2025, a change of 27.0%.

Smith Douglas Homes' total liabilities were at $113.46 million at the end of 2025, a 53.0% increase from 2024, and a 21.1% decrease since 2023.

In the past 2 years, Smith Douglas Homes' cash and equivalents has ranged from $12.74 million in 2025 to $22.36 million in 2024, and is currently $12.74 million as of their latest financial filing in 2025.

Over the last 2 years, Smith Douglas Homes' book value per share changed from 27.16 in 2023 to 1.69 in 2025, a change of -93.8%.


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Financial statements for NYSE:SDHC last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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