Investor Relations

Financial Analysis

Financial Highlights
2018 FQ3
9/30/2018
2018 FQ2
6/30/2018
2018 FQ1
3/31/2018
2017 FQ4
12/31/2017
2017 FQ3
9/30/2017
Balance Sheet ($000)
Current Inventories 2,973,748 2,957,791 2,894,201 2,830,189 2,869,609
Net PP&E 53,371 52,122 49,761 33,631 32,080
Loans & Investments 0 0 0 0 0
Total Assets 3,448,259 3,394,894 3,327,164 3,251,258 3,252,158
Total Debt 1,311,723 1,311,257 1,311,348 1,283,804 1,304,242
Total Liabilities 1,735,775 1,711,954 1,701,832 1,674,433 1,713,050
Total Equity 1,712,484 1,682,940 1,625,332 1,576,825 1,539,108
Total Capitalization, at Book Value 3,024,207 2,994,197 2,936,680 2,860,629 2,843,350
Income Statement ($000)
Homebuilding Sales 884,581 877,495 742,564 946,425 805,597
Homebuilding Sales Expense 708,193 699,952 601,975 754,537 642,534
Revenue 895,373 886,617 753,593 957,107 814,572
Expenses 823,964 815,432 704,709 873,017 751,117
Provision for Taxes 17,274 17,347 5,010 48,537 20,905
Net Income 54,135 53,838 43,874 35,553 42,550
Per Share Information ($)
Basic Book Value per Share 42.85 41.40 40 39.10 38.17
Diluted EPS after Extraordinary 1.33 1.31 1.07 0.87 1.02
Recurring EBITDA per share 2.36 2.35 1.65 2.68 2.08
Free Cash Flow per Share 1.76 (0.16) (0.78) 1.35 (1.27)
Financial Analysis
Free Cash Flow($000) 71,646 (6,564) (31,856) 55,314 (53,062)
Debt/ Book Capitalization(%) 43.37 43.79 44.65 44.88 45.87
Net Debt/ Net Cap(%) 39.24 40.42 41.20 41.38 43.58
ROAA(%) 6.33 6.41 5.34 4.37 5.28
ROAE(%) 12.75 13.02 10.96 9.13 11.23
Return on Capital(%) 7.20 7.26 6.05 4.99 5.98
Recurring EBITDA/ Interest Expense(x) 5.37 5.15 3.84 5.76 5.26
Gross Margin(%) 17.92 18.10 16.58 18.29 18.32
Construction Margin(%) 7.25 7.47 5.39 8.27 7.70
Total Operating Margin(%) 7.98 8.03 5.87 9.01 8.30
Changes and Trends (%)
Homebuilding Sales Growth 9.80 9.42 10.37 7.46 7.01
Homebuilding, Total Sales Gross Profit Growth 8.17 12.14 12.70 8.82 11.59
Construction Revenue Growth 9.80 9.42 10.37 7.46 7.01
Inventory Growth 2.16 8.79 9.05 (5.49) 21.51
Equity Growth 7.02 14.18 12.30 9.80 12.51
Asset Growth 6.29 8.14 9.34 (0.11) 6.43
Miscellaneous
Number of Homes Closed(actual) 2,162 2,139 1,725 2,253 1,969
Avg Closing Price per Unit($000) 406 408 422 410 409
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.