Investor Relations

Financial Analysis

Financial Highlights
2019 FQ1
3/31/2019
2018 FQ4
12/31/2018
2018 FQ3
9/30/2018
2018 FQ2
6/30/2018
2018 FQ1
3/31/2018
Balance Sheet ($000)
Current Inventories 2,789,405 2,794,031 2,973,748 2,957,791 2,894,201
Net PP&E 72,938 54,596 53,371 52,122 49,761
Loans & Investments 0 0 0 0 0
Total Assets 3,395,867 3,365,479 3,448,259 3,394,894 3,327,164
Total Debt 1,336,494 1,310,057 1,311,723 1,311,257 1,311,348
Total Liabilities 1,652,796 1,644,724 1,735,775 1,711,954 1,701,832
Total Equity 1,743,071 1,720,755 1,712,484 1,682,940 1,625,332
Total Capitalization, at Book Value 3,079,565 3,030,812 3,024,207 2,994,197 2,936,680
Income Statement ($000)
Homebuilding Sales 708,145 1,008,779 884,581 877,495 742,564
Homebuilding Sales Expense 574,919 799,543 708,193 699,952 601,975
Revenue 715,397 1,019,551 895,373 886,617 753,593
Expenses 683,027 927,775 823,964 815,432 704,709
Provision for Taxes 6,958 16,291 17,274 17,347 5,010
Net Income 25,412 75,485 54,135 53,838 43,874
Per Share Information ($)
Basic Book Value per Share 45.55 45.20 42.85 41.40 40
Diluted EPS after Extraordinary 0.65 1.91 1.33 1.31 1.07
Recurring EBITDA per share 1.50 NA NA NA NA
Free Cash Flow per Share 0.45 4.19 1.76 (0.16) (0.78)
Financial Analysis
Free Cash Flow($000) 17,504 165,474 71,646 (6,564) (31,856)
Debt/ Book Capitalization(%) 43.40 43.22 43.37 43.79 44.65
Net Debt/ Net Cap(%) 36.66 36.72 39.24 40.42 41.20
ROAA(%) 3.01 8.86 6.33 6.41 5.34
ROAE(%) 5.87 17.59 12.75 13.02 10.96
Return on Capital(%) 3.33 9.97 7.20 7.26 6.05
Recurring EBITDA/ Interest Expense(x) 2.87 NA NA NA NA
Gross Margin(%) 16.50 18.70 17.92 18.10 16.58
Construction Margin(%) 4.59 8.37 7.25 7.47 5.39
Total Operating Margin(%) 5.10 9.06 7.98 8.03 5.87
Changes and Trends (%)
Homebuilding Sales Growth (4.64) 6.59 9.80 9.42 10.37
Homebuilding, Total Sales Gross Profit Growth (5.24) 9.04 8.17 12.14 12.70
Construction Revenue Growth (4.64) 6.59 9.80 9.42 10.37
Inventory Growth (0.66) (24.17) 2.16 8.79 9.05
Equity Growth 5.19 1.93 7.02 14.18 12.30
Asset Growth 3.61 (9.60) 6.29 8.14 9.34
Miscellaneous
Number of Homes Closed(actual) 1,765 2,505 2,162 2,139 1,725
Avg Closing Price per Unit($000) 396 398 406 408 422
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.