Investor Relations

Financial Analysis

Financial Highlights
2018 FQ1
3/31/2018
2017 FQ4
12/31/2017
2017 FQ3
9/30/2017
2017 FQ2
6/30/2017
2017 FQ1
3/31/2017
Balance Sheet ($000)
Current Inventories 2,894,201 2,830,189 2,869,609 2,723,144 2,601,366
Net PP&E 49,761 33,631 32,080 32,620 32,700
Loans & Investments 0 0 0 0 0
Total Assets 3,327,164 3,251,258 3,252,158 3,200,692 2,956,547
Total Debt 1,311,348 1,283,804 1,304,242 1,357,530 1,171,426
Total Liabilities 1,701,832 1,674,433 1,713,050 1,708,253 1,508,182
Total Equity 1,625,332 1,576,825 1,539,108 1,492,439 1,448,365
Total Capitalization, at Book Value 2,936,680 2,860,629 2,843,350 2,849,969 2,619,791
Income Statement ($000)
Homebuilding Sales 742,564 946,425 805,597 801,978 672,772
Homebuilding Sales Expense 601,975 754,537 642,534 643,650 548,028
Revenue 753,593 957,107 814,572 812,014 679,924
Expenses 704,709 873,017 751,117 748,809 643,155
Provision for Taxes 5,010 48,537 20,905 21,625 13,197
Net Income 43,874 35,553 42,550 41,580 23,572
Per Share Information ($)
Basic Book Value per Share 40 39.10 38.17 37.01 35.93
Diluted EPS after Extraordinary 1.07 0.87 1.02 0.98 0.56
Recurring EBITDA per share 1.76 2.68 2.08 2.03 1.31
Free Cash Flow per Share (0.78) 1.35 (1.27) (1.24) (2.14)
Financial Analysis
Free Cash Flow($000) (31,856) 55,314 (53,062) (52,987) (91,463)
Debt/ Book Capitalization(%) 44.65 44.88 45.87 47.63 44.71
Net Debt/ Net Cap(%) 41.20 41.38 43.58 43.32 42.85
ROAA(%) 5.34 4.37 5.28 5.40 3.23
ROAE(%) 10.96 9.13 11.23 11.31 6.57
Return on Capital(%) 6.05 4.99 5.98 6.08 3.65
Recurring EBITDA/ Interest Expense(x) 4.11 5.76 5.26 4.86 3.70
Gross Margin(%) 16.58 18.29 18.32 17.72 16.40
Construction Margin(%) 6 8.27 7.70 7.48 4.98
Total Operating Margin(%) 6.50 9.01 8.30 8.17 5.62
Changes and Trends (%)
Homebuilding Sales Growth 10.37 7.46 7.01 0.51 12.55
Homebuilding, Total Sales Gross Profit Growth 12.70 8.82 11.59 1.76 8.34
Construction Revenue Growth 10.37 7.46 7.01 0.51 12.55
Inventory Growth 9.05 (5.49) 21.51 18.73 14.95
Equity Growth 12.30 9.80 12.51 12.17 7.56
Asset Growth 9.34 (0.11) 6.43 33.03 9.40
Miscellaneous
Number of Homes Closed(actual) 1,725 2,253 1,969 1,906 1,581
Avg Closing Price per Unit($000) 422 410 409 419 418
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.