Investor Relations

Financial Analysis

Financial Highlights
2017 FQ3
9/30/2017
2017 FQ2
6/30/2017
2017 FQ1
3/31/2017
2016 FQ4
12/31/2016
2016 FQ3
9/30/2016
Balance Sheet ($000)
Current Inventories 2,869,609 2,723,144 2,601,366 2,507,619 2,520,067
Net PP&E 32,080 32,620 32,700 33,202 33,983
Loans & Investments 0 0 0 0 0
Total Assets 3,252,158 3,200,692 2,956,547 2,888,691 2,873,155
Total Debt 1,304,242 1,357,530 1,171,426 1,127,314 1,139,815
Total Liabilities 1,713,050 1,708,253 1,508,182 1,467,196 1,505,750
Total Equity 1,539,108 1,492,439 1,448,365 1,421,495 1,367,405
Total Capitalization, at Book Value 2,843,350 2,849,969 2,619,791 2,548,809 2,507,220
Income Statement ($000)
Homebuilding Sales 805,597 801,978 672,772 880,708 752,857
Homebuilding Sales Expense 645,534 644,850 548,628 704,376 606,727
Revenue 814,572 812,036 679,924 893,174 762,086
Expenses 751,117 748,831 643,155 816,837 708,284
Provision for Taxes 20,905 21,625 13,197 24,530 16,915
Net Income 42,550 41,580 23,572 51,807 36,887
Per Share Information ($)
Basic Book Value per Share 38.17 37.01 35.93 35.51 34.16
Diluted EPS after Extraordinary 1.02 0.98 0.56 1.22 0.88
Recurring EBITDA per share 2.01 2 1.30 2.33 1.70
Free Cash Flow per Share (1.27) (1.24) (2.14) 0.81 (1.12)
Financial Analysis
Free Cash Flow($000) (53,062) (52,987) (91,463) 34,689 (47,276)
Debt/ Book Capitalization(%) 45.87 47.63 44.71 44.23 45.46
Net Debt/ Net Cap(%) 43.58 43.32 42.85 41.19 43.01
ROAA(%) 5.28 5.40 3.23 7.19 5.24
ROAE(%) 11.23 11.31 6.57 14.86 10.95
Return on Capital(%) 5.98 6.08 3.65 8.20 5.96
Recurring EBITDA/ Interest Expense(x) 5.08 4.80 3.66 5.82 5
Gross Margin(%) 17.95 17.57 16.32 18.08 17.52
Construction Margin(%) 7.32 7.33 4.89 7.80 6.31
Total Operating Margin(%) 7.93 8.02 5.53 8.75 7.08
Changes and Trends (%)
Homebuilding Sales Growth 7.01 0.51 12.55 12.68 12.37
Homebuilding, Total Sales Gross Profit Growth 9.53 0.99 7.82 4.50 4.84
Construction Revenue Growth 7.01 0.51 12.55 12.68 12.37
Inventory Growth 21.51 18.73 14.95 (1.98) 21.28
Equity Growth 12.51 12.17 7.56 15.82 12.24
Asset Growth 6.43 33.03 9.40 2.16 16.23
Miscellaneous
Number of Homes Closed(actual) 1,969 1,906 1,581 2,117 1,800
Avg Closing Price per Unit($000) 409 419 418 414 409
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.