Investor Relations

Financial Analysis

Financial Highlights
2019 FQ3
9/30/2019
2019 FQ2
6/30/2019
2019 FQ1
3/31/2019
2018 FQ4
12/31/2018
2018 FQ3
9/30/2018
Balance Sheet ($000)
Current Inventories 2,899,576 2,782,203 2,789,405 2,794,031 2,973,748
Net PP&E 78,149 80,137 72,938 54,596 53,371
Loans & Investments 0 0 0 0 0
Total Assets 3,635,035 3,466,876 3,395,867 3,365,479 3,448,259
Total Debt 1,343,002 1,342,149 1,336,494 1,310,057 1,311,723
Total Liabilities 1,761,469 1,668,776 1,652,796 1,644,724 1,735,775
Total Equity 1,873,566 1,798,100 1,743,071 1,720,755 1,712,484
Total Capitalization, at Book Value 3,216,568 3,140,249 3,079,565 3,030,812 3,024,207
Income Statement ($000)
Homebuilding Sales 940,880 864,610 708,145 1,008,779 884,581
Homebuilding Sales Expense 734,426 687,859 574,919 799,543 708,193
Revenue 950,589 874,729 715,397 1,019,551 895,373
Expenses 858,223 807,055 683,027 927,775 823,964
Provision for Taxes 22,557 16,846 6,958 16,291 17,274
Net Income 69,809 50,828 25,412 75,485 54,135
Per Share Information ($)
Basic Book Value per Share 48.92 46.99 45.55 45.20 42.85
Diluted EPS after Extraordinary 1.79 1.31 0.65 1.91 1.33
Recurring EBITDA per share 3.10 2.49 1.50 NA NA
Free Cash Flow per Share 1.10 1.72 0.45 4.19 1.76
Financial Analysis
Free Cash Flow($000) 42,866 66,666 17,504 165,474 71,646
Debt/ Book Capitalization(%) 41.75 42.74 43.40 43.22 43.37
Net Debt/ Net Cap(%) 32.16 34.20 36.66 36.72 39.24
ROAA(%) 7.86 5.93 3.01 8.86 6.33
ROAE(%) 15.21 11.48 5.87 17.59 12.75
Return on Capital(%) 8.79 6.54 3.33 9.97 7.20
Recurring EBITDA/ Interest Expense(x) 5.64 4.29 2.87 NA NA
Gross Margin(%) 19.78 18.20 16.50 18.70 17.92
Construction Margin(%) 9.30 7.47 4.59 8.37 7.25
Total Operating Margin(%) 9.83 8.10 5.10 9.06 7.98
Changes and Trends (%)
Homebuilding Sales Growth 6.36 (1.47) (4.64) 6.59 9.80
Homebuilding, Total Sales Gross Profit Growth 17.05 (0.45) (5.24) 9.04 8.17
Construction Revenue Growth 6.36 (1.47) (4.64) 6.59 9.80
Inventory Growth 16.87 (1.03) (0.66) (24.17) 2.16
Equity Growth 16.79 12.63 5.19 1.93 7.02
Asset Growth 19.40 8.36 3.61 (9.60) 6.29
Miscellaneous
Number of Homes Closed(actual) 2,419 2,253 1,765 2,505 2,162
Avg Closing Price per Unit($000) 388 383 396 398 406
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.