Smith Douglas Homes (SDHC) Financials

$11.55 +0.01 (+0.09%)

As of 05/14/2026 03:58 PM Eastern

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

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

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

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

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

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

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	-	-	-

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

Overview: Smith Douglas Homes Corp. (SDHC) has shown a pattern of solid profitability with modest gross margins and variable cash flows across the last four years of quarterly data. Net income from continuing operations has remained positive in most periods, while cash flow from operations has fluctuated, and the company has actively used debt financing to support financing needs and capital investments.

Net income from continuing operations has remained positive in every quarter shown, including Q4 2025 (about $17.0M) and other recent periods, signaling ongoing profitability at the core business.
Gross margins have generally stayed in the ~20% range (e.g., Q4 2025 gross margin ~19.9%, Q3 2025 ~21.0%, Q2 2025 ~23.2%), indicating stable profitability on product sales across periods.
Operating cash flow is positive in most quarters (e.g., Q4 2025 net cash from continuing operating activities around $9.8M; Q3 2025 around $22.8M), showing cash-generating operating activity despite quarterly volatility.
The equity base remains robust, with total equity plus noncontrolling interests typically in the 407–426 million range in 2025, suggesting solid capitalization to support operations and investments.
The company has accessed debt markets to raise capital when needed (e.g., Q4 2025 debt issuance of $41.0M; Q3 2025 issuance of $15.0M), which can support growth initiatives or liquidity during cyclical housing markets.
Revenue shows quarterly volatility within the last four years, with some YoY declines (e.g., Q4 2025 revenue around $260.4M vs. Q4 2024 around $287.5M), though other quarters show strength, indicating sensitivity to timing and market cycles.
Noncontrolling interest takes a meaningful share of net income in several quarters (e.g., substantial portions of pre/post-tax income allocated to noncontrolling interests), which is neutral for evaluating per-share results but important for actual cash flow to all owners.
Cash flow from financing activities is often negative, driven by debt repayments and dividend payments, reflecting ongoing capital return and debt service requirements rather than immediate cash generation benefits.
Investing cash flow is typically negative due to capital expenditures and acquisitions, reflecting ongoing investment in PPE and related assets (e.g., Q4 2025 net cash from continuing investing activities around -$1.13M; quarterly investing outflows trend higher in earlier periods).
Debt service has been significant in several quarters, with sizable repayments (e.g., Q4 2025 debt repayments of about -$50.6M; Q3 2025 -$35.5M; Q2 2025 -$56.7M), indicating a substantial ongoing burden on cash flow to service debt.
In a few quarters, net cash from continuing operating activities turned negative (e.g., Q2 2025 around -$28.9M), highlighting periods of stress in operating cash generation that may require either higher working capital efficiency or external financing.

Bottom line for retail investors: SDHC demonstrates credible profitability and a solid balance sheet, with a track record of positive net income and reasonable gross margins. However, cash flow visibility varies by quarter due to working capital dynamics, investing activity, and debt servicing. The company’s ability to sustain cash generation will depend on managing operating performance, capital investments, and the pace of debt repayment or refinancing as housing market cycles evolve.

05/15/26 04:36 AM 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' fiscal year ends in December. Their fiscal 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%.

Related Companies

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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Smith Douglas Homes (SDHC) Financials

Financials Breakdown Chart

Key Financial Trends

Smith Douglas Homes Financials - Frequently Asked Questions

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Smith Douglas Homes (SDHC) Financials

Annual Income Statements for Smith Douglas Homes

Quarterly Income Statements for Smith Douglas Homes

Annual Cash Flow Statements for Smith Douglas Homes

Quarterly Cash Flow Statements for Smith Douglas Homes

Annual Balance Sheets for Smith Douglas Homes

Quarterly Balance Sheets for Smith Douglas Homes

Annual Metrics And Ratios for Smith Douglas Homes

Quarterly Metrics And Ratios for Smith Douglas Homes

Financials Breakdown Chart

Key Financial Trends

Smith Douglas Homes Financials - Frequently Asked Questions

When does Smith Douglas Homes' financial year end?

How has Smith Douglas Homes' net income changed over the last 2 years?

What is Smith Douglas Homes' operating income?

How has Smith Douglas Homes' revenue changed over the last 2 years?

How much debt does Smith Douglas Homes have?

How much cash does Smith Douglas Homes have?

How has Smith Douglas Homes' book value per share changed over the last 2 years?

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