Investor Relations

Financial Analysis

Financial Highlights
2017 FQ2
6/30/2017
2017 FQ1
3/31/2017
2016 FQ4
12/31/2016
2016 FQ3
9/30/2016
2016 FQ2
6/30/2016
Balance Sheet ($000)
Current Inventories 2,723,144 2,601,366 2,507,619 2,520,067 2,392,749
Net PP&E 32,620 32,700 33,202 33,983 34,009
Loans & Investments 0 0 0 0 0
Total Assets 3,200,692 2,956,547 2,888,691 2,873,155 2,761,155
Total Debt 1,357,530 1,171,426 1,127,314 1,139,815 1,114,035
Total Liabilities 1,708,253 1,508,182 1,467,196 1,505,750 1,434,352
Total Equity 1,492,439 1,448,365 1,421,495 1,367,405 1,326,803
Total Capitalization, at Book Value 2,849,969 2,619,791 2,548,809 2,507,220 2,440,838
Income Statement ($000)
Homebuilding Sales 801,978 672,772 880,708 752,857 797,896
Homebuilding Sales Expense 644,850 548,628 704,376 606,727 642,307
Revenue 811,736 679,924 893,174 762,086 807,285
Expenses 748,531 643,155 816,837 708,284 748,249
Provision for Taxes 21,625 13,197 24,530 16,915 19,158
Net Income 41,580 23,572 51,807 36,887 39,878
Per Share Information ($)
Basic Book Value per Share 37.01 35.93 35.51 34.16 33.16
Diluted EPS after Extraordinary 0.98 0.56 1.22 0.88 0.95
Recurring EBITDA per share 1.99 1.30 2.33 1.70 1.94
Free Cash Flow per Share (1.24) (2.14) 0.81 (1.12) (0.87)
Financial Analysis
Free Cash Flow($000) (52,987) (91,463) 34,689 (47,276) (36,709)
Debt/ Book Capitalization(%) 47.63 44.71 44.23 45.46 45.64
Net Debt/ Net Cap(%) 43.32 42.85 41.19 43.01 42.63
ROAA(%) 5.40 3.23 7.19 5.24 5.83
ROAE(%) 11.31 6.57 14.86 10.95 12.22
Return on Capital(%) 6.08 3.65 8.20 5.96 6.59
Recurring EBITDA/ Interest Expense(x) 4.78 3.66 5.82 5 4.80
Gross Margin(%) 17.57 16.32 18.08 17.52 17.56
Construction Margin(%) 7.30 4.89 7.80 6.31 7.05
Total Operating Margin(%) 7.99 5.53 8.75 7.08 7.77
Changes and Trends (%)
Homebuilding Sales Growth 0.51 12.55 12.68 12.37 33.47
Homebuilding, Total Sales Gross Profit Growth 0.99 7.82 4.50 4.84 23.07
Construction Revenue Growth 0.51 12.55 12.68 12.37 33.47
Inventory Growth 18.73 14.95 (1.98) 21.28 14.12
Equity Growth 12.17 7.56 15.82 12.24 13.23
Asset Growth 33.03 9.40 2.16 16.23 6.87
Miscellaneous
Number of Homes Closed(actual) 1,906 1,581 2,117 1,800 1,950
Avg Closing Price per Unit($000) 419 418 414 409 408
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.