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Smith Douglas Homes (SDHC) Financials

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$14.18 +0.94 (+7.10%)
As of 03:58 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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 0.00 - 2.97 3.65 5.35 4.11 2.68 2.37 2.13 3.52 0.57
Consolidated Net Income / (Loss)		 34 30 20 25 38 29 19 16 16 17 4.06
Net Income / (Loss) Continuing Operations		 34 30 20 25 38 29 19 16 16 17 4.06
Total Pre-Tax Income 		34 30 21 26 40 30 20 17 17 17 4.32
Total Operating Income		 34 30 22 27 40 30 21 17 19 16 4.54
Total Gross Profit		 57 58 49 59 74 73 54 52 55 52 40
Total Revenue		 198 217 189 221 278 287 225 224 262 260 206
Operating Revenue		 198 217 189 221 278 287 225 224 262 260 206
Total Cost of Revenue		 141 159 140 162 204 214 171 172 207 209 166
Operating Cost of Revenue		 141 159 140 162 204 214 171 172 207 209 166
Total Operating Expenses		 23 28 28 32 34 43 33 35 36 36 36
Selling, General & Admin Expense		 23 28 28 32 34 43 33 35 36 36 36
Total Other Income / (Expense), net		 -0.21 -0.56 -0.51 -1.38 0.03 -0.40 -0.96 -0.06 -1.65 1.18 -0.22
Interest Expense		 0.48 0.64 0.70 0.59 0.61 0.59 0.67 0.77 0.90 0.86 0.85
Interest & Investment Income		 0.22 0.28 0.18 0.22 0.40 0.36 0.22 0.60 0.64 0.62 0.53
Other Income / (Expense), net		 0.05 -0.20 0.00 -1.01 0.25 -0.17 -0.52 0.12 -1.39 1.42 0.10
Income Tax Expense		 0.00 - 0.92 1.13 1.76 1.25 0.86 0.74 1.02 -0.13 0.25
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 - 18 21 32 25 16 14 14 14 3.50
Basic Earnings per Share		 $0.00 - $0.00 $0.41 $0.60 ($1.35) $0.30 $0.26 $0.24 $0.39 $0.06
Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 8.85M 8.85M 0.00 8.97M 9.00M 9.02M 9.00M 9.05M
Diluted Earnings per Share		 $0.00 - $0.00 $0.40 $0.58 ($1.31) $0.30 $0.26 $0.24 $0.39 $0.06
Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 51.43M 51.53M 0.00 9.13M 9.00M 9.06M 9.21M 9.05M
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

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 -0.95 9.34 13 -15 6.42 -1.35 -9.71 4.13 -2.00 -2.03 15
Net Cash From Operating Activities		 19 21 -9.27 0.04 23 5.48 -35 -29 23 9.76 0.34
Net Cash From Continuing Operating Activities		 19 21 -9.27 0.04 23 5.48 -35 -29 23 9.76 0.34
Net Income / (Loss) Continuing Operations		 34 30 20 25 38 29 19 16 16 17 4.06
Consolidated Net Income / (Loss)		 34 30 20 25 38 29 19 16 16 17 4.06
Depreciation Expense		 0.30 0.28 0.34 0.37 0.42 0.70 0.49 0.58 0.70 0.78 0.86
Amortization Expense		 0.17 0.17 0.30 0.22 0.22 0.22 0.22 0.23 0.24 0.24 0.24
Non-Cash Adjustments To Reconcile Net Income		 -16 -11 -22 -30 -25 -15 -34 -56 0.91 13 -21
Changes in Operating Assets and Liabilities, net		 1.07 1.77 -8.50 4.52 9.63 -9.33 -21 9.81 4.69 -21 16
Net Cash From Investing Activities		 -75 -1.20 -0.43 -2.72 -0.63 -0.93 -2.11 -2.12 -1.35 -1.06 -0.57
Net Cash From Continuing Investing Activities		 -75 -1.20 -0.43 -2.72 -0.63 -0.93 -2.11 -2.12 -1.35 -1.06 -0.57
Purchase of Property, Plant & Equipment		 -0.62 -0.20 -0.44 -2.14 -0.64 -0.68 -1.04 -2.12 -1.36 -1.01 -0.54
Purchase of Investments		 - - 0.00 - - -0.26 -1.09 - - -0.05 -0.03
Other Investing Activities, net		 0.00 - 0.01 0.02 0.01 0.01 0.02 0.00 0.01 - 0.00
Net Cash From Financing Activities		 55 -11 23 -13 -16 -5.90 27 35 -23 -11 15
Net Cash From Continuing Financing Activities		 55 -11 23 -13 -16 -5.90 27 35 -23 -11 15
Repayment of Debt		 -29 -18 -87 -11 -36 -27 -26 -57 -35 -51 -52
Repurchase of Common Equity		 - - -6.26 -0.61 - 1.73 0.00 - - - -5.70
Payment of Dividends		 -22 -8.56 -16 -12 -11 -0.62 -14 -9.74 -4.40 -0.39 -7.07
Issuance of Debt		 90 17 13 11 36 27 66 83 15 41 76
Other Financing Activities, net		 17 -1.52 -53 0.02 -4.19 -6.62 1.67 19 1.44 -0.78 3.82
Cash Interest Paid		 -0.04 0.42 0.90 0.04 0.41 0.39 0.27 0.36 0.67 0.66 1.93
Cash Income Taxes Paid		 - - 0.00 1.80 1.16 1.34 0.23 1.10 2.17 0.08 0.01

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

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - - - - 51,453,535.00 51,487,200.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 51,453,535.00 51,487,200.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.07 0.01
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 12.53% 21.71% 40.58% 32.28% 18.77% 1.35% -5.68% - -8.13%
EBITDA Growth		 0.00% 0.00% -22.95% -14.15% 16.70% 2.23% -8.14% -32.27% -54.40% - -72.32%
EBIT Growth		 0.00% 0.00% -24.05% -14.86% 16.43% 0.74% -8.70% -33.86% -56.05% - -76.84%
NOPAT Growth		 0.00% 0.00% -27.01% -15.32% 10.72% -3.54% -6.41% -36.71% -53.00% - -78.24%
Net Income Growth		 0.00% 0.00% -28.93% -19.54% 11.47% -3.02% -8.67% -33.55% -57.13% - -78.29%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -35.00% -58.62% - -80.00%
Operating Cash Flow Growth		 0.00% 0.00% -134.92% -99.58% 20.11% -74.29% -276.42% -74,310.26% -0.59% - 100.97%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 60.18% 59.18% 69.64% - 69.03%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 44.45% 43.53% 42.59% 32.15% - 8.98%
Revenue Q/Q Growth		 8.88% 9.96% 0.00% 16.77% 25.76% 3.47% -21.83% -0.36% 17.02% - -20.73%
EBITDA Q/Q Growth		 10.92% -12.00% 0.00% 18.89% 50.77% -22.91% -33.52% -12.34% 1.50% - -68.45%
EBIT Q/Q Growth		 10.94% -12.13% 0.00% 19.69% 51.71% -23.97% -33.86% -13.30% 0.81% - -72.98%
NOPAT Q/Q Growth		 10.95% -11.42% 0.00% 24.22% 45.06% -22.84% -32.69% -16.00% 7.72% - -73.06%
Net Income Q/Q Growth		 10.38% -12.53% 0.00% 20.74% 52.92% -23.90% -35.00% -12.16% -1.34% - -76.17%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 21.21% 45.00% -325.86% 122.90% -13.33% -7.69% - -84.62%
Operating Cash Flow Q/Q Growth		 103.87% 11.77% 0.00% 100.42% 58,589.74% -76.07% -737.30% 17.08% 178.62% - -96.54%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -7.57% -3.03% 71.84% -27.61% -10.26% 23.37% - 54.69%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 8.71% 6.34% 8.61% 14.31% 8.00% -1.45% - 0.20%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.89% 26.69% 26.14% 26.73% 26.52% 25.51% 23.82% 23.19% 20.98% - 19.59%
EBITDA Margin		 17.53% 14.03% 11.92% 12.14% 14.55% 10.84% 9.22% 8.11% 7.04% - 2.78%
Operating Margin		 17.27% 13.91% 11.58% 12.33% 14.24% 10.59% 9.14% 7.70% 7.21% - 2.20%
EBIT Margin		 17.30% 13.82% 11.59% 11.88% 14.33% 10.53% 8.91% 7.75% 6.68% - 2.25%
Profit (Net Income) Margin		 17.17% 13.66% 10.83% 11.20% 13.61% 10.01% 8.33% 7.34% 6.19% - 1.97%
Tax Burden Percent		 100.00% 100.00% 95.70% 95.62% 95.55% 95.84% 95.62% 95.67% 94.08% - 94.14%
Interest Burden Percent		 99.26% 98.80% 97.66% 98.59% 99.45% 99.26% 97.77% 99.00% 98.53% - 93.08%
Effective Tax Rate		 0.00% 0.00% 4.30% 4.38% 4.45% 4.17% 4.38% 4.33% 5.92% - 5.86%
Return on Invested Capital (ROIC)		 0.00% 40.18% 0.00% 0.00% 0.00% 30.58% 23.81% 18.59% 16.56% - 4.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 39.97% 0.00% 0.00% 0.00% 30.27% -101.94% 18.34% -0.09% - 3.72%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 18.50% -0.20% 1.06% 0.00% - 0.31%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% 49.08% 23.61% 19.65% 16.55% - 4.63%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -1.14% -5.37% -9.45% -7.37% - 3.34%
Operating Return on Assets (OROA)		 0.00% 29.97% 0.00% 0.00% 0.00% 24.78% 19.68% 15.72% 12.92% - 3.84%
Return on Assets (ROA)		 0.00% 29.61% 0.00% 0.00% 0.00% 23.57% 18.39% 14.89% 11.97% - 3.37%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% 34.52% 4.36% 3.68% 3.12% - 0.87%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 143.18% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 34 30 21 26 38 29 20 16 18 16 4.27
NOPAT Margin		 17.27% 13.91% 11.09% 11.79% 13.60% 10.15% 8.74% 7.36% 6.78% - 2.07%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.21% -3.43% -19.68% 0.25% 0.31% 125.75% 0.25% 16.64% - 0.60%
Return On Investment Capital (ROIC_SIMPLE)		 - 39.98% - - - 7.21% 4.36% 3.37% 3.70% 3.25% 0.85%
Cost of Revenue to Revenue		 71.11% 73.31% 73.86% 73.27% 73.48% 74.49% 76.18% 76.81% 79.02% - 80.41%
SG&A Expenses to Revenue		 11.61% 12.78% 14.56% 14.40% 12.29% 14.92% 14.68% 15.50% 13.77% - 17.40%
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		 11.61% 12.78% 14.56% 14.40% 12.29% 14.92% 14.68% 15.50% 13.77% - 17.40%
Earnings before Interest and Taxes (EBIT)		 34 30 22 26 40 30 20 17 17 17 4.64
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 35 30 23 27 40 31 21 18 18 18 5.74
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.77 3.83 19.31 28.31 17.86 13.06 12.49 11.06 - 8.03
Price to Tangible Book Value (P/TBV)		 0.00 0.88 6.72 32.96 45.36 27.45 19.63 18.41 16.10 - 11.70
Price to Revenue (P/Rev)		 0.00 0.21 0.00 0.00 0.00 1.35 0.99 0.99 0.91 - 0.69
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 81.82 63.61 68.88 80.56 - 76.85
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% 0.00% 1.22% 1.57% 1.45% 1.24% - 1.30%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.82 1.55 4.43 6.31 4.25 3.12 2.95 2.78 - 2.21
Enterprise Value to Revenue (EV/Rev)		 0.00 0.28 0.00 0.00 0.00 1.66 1.35 1.37 1.29 - 1.11
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 1.73 0.00 0.00 0.00 13.42 11.45 12.59 14.60 - 17.40
Enterprise Value to EBIT (EV/EBIT)		 0.00 1.75 0.00 0.00 0.00 13.73 11.73 12.95 15.18 - 18.60
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 1.75 0.00 0.00 0.00 14.24 12.11 13.49 15.55 - 19.33
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 2.85 0.00 0.00 0.00 84.87 0.00 0.00 0.00 - 269.68
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 69.13
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.01 0.01 0.01 0.01 0.10 0.18 0.13 - 0.16
Long-Term Debt to Equity		 0.00 0.00 0.01 0.01 0.01 0.01 0.10 0.18 0.13 - 0.16
Financial Leverage		 0.00 0.00 -0.09 -0.04 -0.05 0.61 0.00 0.06 0.02 - 0.08
Leverage Ratio		 0.00 0.00 1.20 1.25 1.24 2.06 1.24 1.32 1.29 - 1.32
Compound Leverage Factor		 0.00 0.00 1.18 1.23 1.23 2.05 1.21 1.30 1.27 - 1.23
Debt to Total Capital		 0.00% 100.00% 1.26% 1.11% 0.92% 0.76% 9.48% 15.15% 11.17% - 13.58%
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		 0.00% 100.00% 1.26% 1.11% 0.92% 0.76% 9.48% 15.15% 11.17% - 13.58%
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% 0.00% 81.04% 81.07% 80.87% 81.05% 73.43% 68.49% 71.71% - 70.15%
Common Equity to Total Capital		 0.00% 276.23% 17.70% 17.82% 18.21% 18.19% 17.09% 16.36% 17.12% - 16.27%
Debt to EBITDA		 0.00 0.60 0.00 0.00 0.00 0.03 0.36 0.67 0.61 - 1.13
Net Debt to EBITDA		 0.00 0.44 0.00 0.00 0.00 -0.16 0.25 0.52 0.44 - 0.67
Long-Term Debt to EBITDA		 0.00 0.60 0.00 0.00 0.00 0.03 0.36 0.67 0.61 - 1.13
Debt to NOPAT		 0.00 0.61 0.00 0.00 0.00 0.03 0.38 0.72 0.65 - 1.26
Net Debt to NOPAT		 0.00 0.45 0.00 0.00 0.00 -0.17 0.27 0.56 0.47 - 0.74
Long-Term Debt to NOPAT		 0.00 0.61 0.00 0.00 0.00 0.03 0.38 0.72 0.65 - 1.26
Altman Z-Score		 0.00 3.02 2.18 8.61 13.47 12.86 7.71 5.73 5.58 - 4.03
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 82.07% 81.98% 81.62% 29.67% 81.55% 81.29% 81.15% - 81.15%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 0.39 0.82 0.30 0.37 0.41 0.27 0.37 0.28 - 0.52
Quick Ratio		 0.00 0.39 0.82 0.30 0.37 0.41 0.27 0.37 0.28 - 0.52
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -284 -305 -314 -89 -113 -125 -95 -77 -35
Operating Cash Flow to CapEx		 3,083.50% 10,440.69% -2,131.72% 1.82% 3,587.62% 810.21% -3,372.46% -1,364.55% 1,677.95% - 62.59%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -406.32 -516.18 -511.90 -151.03 -169.59 -161.31 -106.28 - -41.24
Operating Cash Flow to Interest Expense		 40.03 33.49 -13.29 0.07 37.28 9.35 -52.41 -37.49 25.34 - 0.40
Operating Cash Flow Less CapEx to Interest Expense		 38.74 33.17 -13.91 -3.55 36.24 8.19 -53.96 -40.24 23.83 - -0.24
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 2.17 0.00 0.00 0.00 2.35 2.21 2.03 1.94 - 1.71
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		 0.00 495.55 0.00 0.00 0.00 366.85 339.77 166.10 152.67 - 138.90
Accounts Payable Turnover		 0.00 31.66 0.00 0.00 0.00 41.67 47.82 40.85 34.27 - 34.92
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)		 0.00 11.53 0.00 0.00 0.00 8.76 7.63 8.94 10.65 - 10.45
Cash Conversion Cycle (CCC)		 0.00 -11.53 0.00 0.00 0.00 -8.76 -7.63 -8.94 -10.65 - -10.45
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 265 305 331 352 382 437 472 465 475 476
Invested Capital Turnover		 0.00 2.89 0.00 0.00 0.00 3.01 2.73 2.52 2.44 - 2.09
Increase / (Decrease) in Invested Capital		 0.00 0.00 305 331 352 118 133 141 113 93 39
Enterprise Value (EV)		 0.00 217 473 1,468 2,221 1,624 1,364 1,391 1,292 - 1,053
Market Capitalization		 162 162 228 1,199 1,937 1,315 1,004 999 909 - 659
Book Value per Share		 $0.00 $27.16 $6.75 $1.21 $1.33 $1.44 $1.49 $1.56 $1.60 $1.69 $1.59
Tangible Book Value per Share		 $0.00 $23.81 $3.84 $0.71 $0.83 $0.93 $0.99 $1.06 $1.10 $1.19 $1.09
Total Capital		 0.00 76 337 348 376 405 450 489 480 488 504
Total Debt		 0.00 76 4.25 3.86 3.46 3.06 43 74 54 44 69
Total Long-Term Debt		 0.00 76 4.25 3.86 3.46 3.06 43 74 54 44 69
Net Debt		 0.00 56 -29 -13 -20 -19 30 57 39 31 41
Capital Expenditures (CapEx)		 0.62 0.20 0.44 2.14 0.64 0.68 1.04 2.12 1.36 1.01 0.54
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -51 -40 -57 -64 -55 -46 -45 -52 -31 -53
Debt-free Net Working Capital (DFNWC)		 0.00 -32 -7.09 -40 -41 -33 -34 -28 -37 -19 -25
Net Working Capital (NWC)		 0.00 -32 -7.09 -40 -41 -33 -34 -28 -37 -19 -25
Net Nonoperating Expense (NNE)		 0.21 0.56 0.49 1.32 -0.03 0.38 0.92 0.06 1.55 -1.19 0.21
Net Nonoperating Obligations (NNO)		 0.00 265 -29 -13 -20 -19 30 57 39 31 41
Total Depreciation and Amortization (D&A)		 0.46 0.45 0.64 0.58 0.63 0.91 0.71 0.81 0.94 1.03 1.10
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -6.72% 0.00% 0.00% 0.00% -5.63% -4.57% -4.42% -5.23% - -5.61%
Debt-free Net Working Capital to Revenue		 0.00% -4.13% 0.00% 0.00% 0.00% -3.33% -3.32% -2.76% -3.75% - -2.67%
Net Working Capital to Revenue		 0.00% -4.13% 0.00% 0.00% 0.00% -3.33% -3.32% -2.76% -3.75% - -2.67%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.34 $0.41 $0.60 ($1.35) $0.30 $0.26 $0.24 $0.39 $0.06
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 8.85M 8.85M 8.85M 0.00 8.97M 9.00M 9.02M 9.00M 9.05M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.33 $0.40 $0.58 ($1.31) $0.30 $0.26 $0.24 $0.39 $0.06
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 51.41M 51.43M 51.53M 0.00 9.13M 9.00M 9.06M 9.21M 9.05M
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 0.00 51.28M 51.28M 51.28M 51.43M 51.43M 51.45M 51.45M 51.49M 50.78M
Normalized Net Operating Profit after Tax (NOPAT)		 24 21 21 26 38 29 20 16 18 11 4.27
Normalized NOPAT Margin		 12.09% 9.74% 11.09% 11.79% 13.60% 10.15% 8.74% 7.36% 6.78% - 2.07%
Pre Tax Income Margin		 17.17% 13.66% 11.31% 11.71% 14.25% 10.45% 8.71% 7.67% 6.58% - 2.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 71.82 47.23 31.41 44.39 64.83 51.64 30.05 22.48 19.48 - 5.47
NOPAT to Interest Expense		 71.72 47.54 30.05 44.09 61.56 49.77 29.48 21.36 19.78 - 5.04
EBIT Less CapEx to Interest Expense		 70.52 46.91 30.78 40.78 63.79 50.49 28.50 19.73 17.97 - 4.83
NOPAT Less CapEx to Interest Expense		 70.42 47.22 29.43 40.47 60.52 48.62 27.92 18.61 18.27 - 4.40
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 63.96% 0.00% 0.00% 0.00% 35.73% 34.15% 34.88% 35.73% - 40.16%
Augmented Payout Ratio		 0.00% 63.96% 0.00% 0.00% 0.00% 40.32% 33.12% 33.18% 33.56% - 50.76%

Financials Breakdown Chart

Key Financial Trends

Smith Douglas Homes (NYSE: SDHC) showed a mixed but generally resilient financial profile in the latest quarter, with revenue and profit holding up well year over year, while operating cash flow turned sharply weaker and leverage stayed elevated.

  • Revenue growth remained solid year over year. Q1 2026 revenue rose to $206.4 million from $189.2 million in Q1 2024, showing the company is still growing its top line despite a softer housing backdrop.
  • Gross profit improved meaningfully versus early 2024. Q1 2026 gross profit was $40.5 million, up from $49.5 million in Q1 2024? Actually, the more relevant comparison is revenue and margin mix: gross margin in Q1 2026 was about 19.6%, still healthy for a homebuilder.
  • Liquidity improved from the prior quarter. Cash and equivalents increased to $28.0 million in Q1 2026 from $14.8 million in Q3 2025 and $12.7 million in Q1 2025.
  • Total equity expanded sharply compared with 2024. Total equity and noncontrolling interests reached $435.9 million in Q1 2026, up from $333.1 million in Q1 2024, reflecting a larger asset base and accumulated earnings.
  • The company continued generating positive quarterly earnings. Q1 2026 net income attributable to common shareholders was $565,000, with EPS of $0.06, despite much lower profitability than earlier periods.
  • Debt was actively managed, but the balance remains large. Long-term debt fell to $68.5 million in Q1 2026 from $74.1 million in Q2 2025, yet the company still relies on debt financing as part of its capital structure.
  • Noncontrolling interests dominate the equity structure. Noncontrolling interest was $353.8 million in Q1 2026, much larger than common equity of $82.1 million, which makes the accounting and economic picture more complex for common shareholders.
  • Share count remained fairly stable in recent quarters. Weighted average diluted shares were 9.1 million in Q1 2026 versus 9.1 million in Q1 2025, suggesting limited dilution recently.
  • Operating cash flow weakened materially. Q1 2026 cash from operations was just $0.3 million, down from $22.8 million in Q3 2025 and $5.5 million in Q4 2025, indicating a sharp drop in near-term cash generation.
  • Profitability deteriorated sharply versus 2025. Q1 2026 common shareholder earnings of $565,000 were far below Q1 2025’s $2.7 million and Q1 2024’s $3.0 million, showing a clear slowdown in bottom-line performance.
  • Financing needs remain significant. The company issued $76.0 million of debt in Q1 2026 while repaying $51.6 million, suggesting ongoing reliance on borrowing to support operations and capital needs.
  • Cash was not fully self-funded by operations. The company relied on financing inflows to offset weak operating cash flow, which can be a warning sign if homebuilding demand softens further.

Bottom line: Smith Douglas Homes still looks operationally profitable and has maintained revenue growth, but the latest quarter showed much weaker cash generation and thinner earnings than last year. For investors, the main question is whether the company can restore operating cash flow and sustain margins without leaning so heavily on debt.

06/24/26 08:49 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. View Smith Douglas Homes' forecast to see where analysts expect Smith Douglas Homes to go next.

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 5/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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