Investor Relations

Financial Analysis

Financial Highlights
2019 FQ2
6/30/2019
2019 FQ1
3/31/2019
2018 FQ4
12/31/2018
2018 FQ3
9/30/2018
2018 FQ2
6/30/2018
Balance Sheet ($000)
Current Inventories 2,782,203 2,789,405 2,794,031 2,973,748 2,957,791
Net PP&E 80,137 72,938 54,596 53,371 52,122
Loans & Investments 0 0 0 0 0
Total Assets 3,466,876 3,395,867 3,365,479 3,448,259 3,394,894
Total Debt 1,342,149 1,336,494 1,310,057 1,311,723 1,311,257
Total Liabilities 1,668,776 1,652,796 1,644,724 1,735,775 1,711,954
Total Equity 1,798,100 1,743,071 1,720,755 1,712,484 1,682,940
Total Capitalization, at Book Value 3,140,249 3,079,565 3,030,812 3,024,207 2,994,197
Income Statement ($000)
Homebuilding Sales 864,610 708,145 1,008,779 884,581 877,495
Homebuilding Sales Expense 687,859 574,919 799,543 708,193 699,952
Revenue 874,729 715,397 1,019,551 895,373 886,617
Expenses 807,055 683,027 927,775 823,964 815,432
Provision for Taxes 16,846 6,958 16,291 17,274 17,347
Net Income 50,828 25,412 75,485 54,135 53,838
Per Share Information ($)
Basic Book Value per Share 46.99 45.55 45.20 42.85 41.40
Diluted EPS after Extraordinary 1.31 0.65 1.91 1.33 1.31
Recurring EBITDA per share 2.49 1.50 NA NA NA
Free Cash Flow per Share 1.72 0.45 4.19 1.76 (0.16)
Financial Analysis
Free Cash Flow($000) 66,666 17,504 165,474 71,646 (6,564)
Debt/ Book Capitalization(%) 42.74 43.40 43.22 43.37 43.79
Net Debt/ Net Cap(%) 34.20 36.66 36.72 39.24 40.42
ROAA(%) 5.93 3.01 8.86 6.33 6.41
ROAE(%) 11.48 5.87 17.59 12.75 13.02
Return on Capital(%) 6.54 3.33 9.97 7.20 7.26
Recurring EBITDA/ Interest Expense(x) 4.29 2.87 NA NA NA
Gross Margin(%) 18.20 16.50 18.70 17.92 18.10
Construction Margin(%) 7.47 4.59 8.37 7.25 7.47
Total Operating Margin(%) 8.10 5.10 9.06 7.98 8.03
Changes and Trends (%)
Homebuilding Sales Growth (1.47) (4.64) 6.59 9.80 9.42
Homebuilding, Total Sales Gross Profit Growth (0.45) (5.24) 9.04 8.17 12.14
Construction Revenue Growth (1.47) (4.64) 6.59 9.80 9.42
Inventory Growth (1.03) (0.66) (24.17) 2.16 8.79
Equity Growth 12.63 5.19 1.93 7.02 14.18
Asset Growth 8.36 3.61 (9.60) 6.29 8.14
Miscellaneous
Number of Homes Closed(actual) 2,253 1,765 2,505 2,162 2,139
Avg Closing Price per Unit($000) 383 396 398 406 408
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.