Investor Relations

Financial Analysis

Financial Highlights
2018 FQ4
12/31/2018
2018 FQ3
9/30/2018
2018 FQ2
6/30/2018
2018 FQ1
3/31/2018
2017 FQ4
12/31/2017
Balance Sheet ($000)
Current Inventories 2,794,031 2,973,748 2,957,791 2,894,201 2,830,189
Net PP&E 54,596 53,371 52,122 49,761 33,631
Loans & Investments 0 0 0 0 0
Total Assets 3,365,479 3,448,259 3,394,894 3,327,164 3,251,258
Total Debt 1,310,057 1,311,723 1,311,257 1,311,348 1,283,804
Total Liabilities 1,644,724 1,735,775 1,711,954 1,701,832 1,674,433
Total Equity 1,720,755 1,712,484 1,682,940 1,625,332 1,576,825
Total Capitalization, at Book Value 3,030,812 3,024,207 2,994,197 2,936,680 2,860,629
Income Statement ($000)
Homebuilding Sales 1,008,779 884,581 877,495 742,564 946,425
Homebuilding Sales Expense 799,543 708,193 699,952 601,975 754,537
Revenue 1,019,551 895,373 886,617 753,593 957,107
Expenses 927,775 823,964 815,432 704,709 873,017
Provision for Taxes 16,291 17,274 17,347 5,010 48,537
Net Income 75,485 54,135 53,838 43,874 35,553
Per Share Information ($)
Basic Book Value per Share 45.20 42.85 41.40 40 39.10
Diluted EPS after Extraordinary 1.91 1.33 1.31 1.07 0.87
Recurring EBITDA per share NA NA NA NA 2.68
Free Cash Flow per Share 4.19 1.76 (0.16) (0.78) 1.35
Financial Analysis
Free Cash Flow($000) 165,474 71,646 (6,564) (31,856) 55,314
Debt/ Book Capitalization(%) 43.22 43.37 43.79 44.65 44.88
Net Debt/ Net Cap(%) 36.72 39.24 40.42 41.20 41.38
ROAA(%) 8.86 6.33 6.41 5.34 4.37
ROAE(%) 17.59 12.75 13.02 10.96 9.13
Return on Capital(%) 9.97 7.20 7.26 6.05 4.99
Recurring EBITDA/ Interest Expense(x) NA NA NA NA 5.76
Gross Margin(%) 18.70 17.92 18.10 16.58 18.29
Construction Margin(%) 8.37 7.25 7.47 5.39 8.27
Total Operating Margin(%) 9.06 7.98 8.03 5.87 9.01
Changes and Trends (%)
Homebuilding Sales Growth 6.59 9.80 9.42 10.37 7.46
Homebuilding, Total Sales Gross Profit Growth 9.04 8.17 12.14 12.70 8.82
Construction Revenue Growth 6.59 9.80 9.42 10.37 7.46
Inventory Growth (24.17) 2.16 8.79 9.05 (5.49)
Equity Growth 1.93 7.02 14.18 12.30 9.80
Asset Growth (9.60) 6.29 8.14 9.34 (0.11)
Miscellaneous
Number of Homes Closed(actual) 2,505 2,162 2,139 1,725 2,253
Avg Closing Price per Unit($000) 398 406 408 422 410
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.