Cavco Industries (CVCO) Financials

$475.47 +5.64 (+1.20%)

As of 04/14/2025 04:00 PM Eastern

Annual Income Statements for Cavco Industries

This table shows Cavco Industries' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	24	29	38	62	69	75	77	198	241	158
Consolidated Net Income / (Loss)	24	29	38	62	69	75	77	198	241	158
Net Income / (Loss) Continuing Operations	24	29	38	62	69	75	77	198	241	158
Total Pre-Tax Income	37	44	55	79	87	93	97	212	307	199
Total Operating Income	38	46	57	74	84	85	89	202	297	179
Total Gross Profit	126	144	158	181	206	231	239	409	555	427
Total Revenue	567	712	774	871	963	1,062	1,108	1,627	2,143	1,795
Operating Revenue	567	712	774	871	963	1,062	1,108	1,627	2,143	1,795
Total Cost of Revenue	441	568	616	691	757	831	869	1,218	1,588	1,368
Operating Cost of Revenue	441	568	616	691	757	831	869	1,218	1,588	1,368
Total Operating Expenses	88	98	101	107	122	146	150	206	258	248
Selling, General & Admin Expense	88	98	101	107	122	146	150	206	258	248
Total Other Income / (Expense), net	-1.15	-2.31	-1.53	4.75	2.54	8.07	8.09	9.49	10	20
Interest Expense	4.59	4.36	4.44	4.40	3.44	1.50	0.74	0.70	0.91	1.65
Interest & Investment Income	-	-	-	-	-	-	2.14	3.54	11	21
Other Income / (Expense), net	3.44	2.05	2.92	9.15	5.98	9.57	6.68	6.66	0.39	0.85
Income Tax Expense	14	15	17	17	18	18	20	14	66	41
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.04	0.29	0.09
Basic Earnings per Share	$2.69	$3.21	$4.23	$6.82	$7.56	$8.22	$8.34	$21.54	$27.20	$18.55
Weighted Average Basic Shares Outstanding	8.85M	8.89M	8.98M	9.02M	9.08M	9.13M	9.19M	9.18M	8.84M	8.51M
Diluted Earnings per Share	$2.64	$3.15	$4.17	$6.68	$7.40	$8.10	$8.25	$21.34	$26.95	$18.37
Weighted Average Diluted Shares Outstanding	9.02M	9.05M	9.11M	9.20M	9.27M	9.27M	9.29M	9.26M	8.92M	8.59M
Weighted Average Basic & Diluted Shares Outstanding	8.90M	8.90M	9M	9M	9.10M	9.17M	9.18M	8.89M	8.67M	8.28M

This table shows Cavco Industries' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Income / (Loss) Attributable to Common Shareholders	60	74	60	47	46	42	36	34	34	44	56
Consolidated Net Income / (Loss)	60	74	60	47	46	42	36	34	34	44	56
Net Income / (Loss) Continuing Operations	60	74	60	47	46	42	36	34	34	44	56
Total Pre-Tax Income	79	93	76	59	61	52	44	43	44	55	69
Total Operating Income	79	91	73	54	56	45	40	38	39	49	64
Total Gross Profit	145	158	132	121	118	107	103	99	103	116	130
Total Revenue	588	577	501	476	476	452	447	420	478	507	522
Operating Revenue	588	577	501	476	476	452	447	420	478	507	522
Total Cost of Revenue	444	420	369	356	358	345	344	321	374	391	392
Operating Cost of Revenue	444	420	369	356	358	345	344	321	374	391	392
Total Operating Expenses	66	67	59	66	62	62	63	61	65	67	66
Selling, General & Admin Expense	66	67	59	66	62	62	63	61	65	67	66
Total Other Income / (Expense), net	0.72	2.11	3.02	4.31	4.48	6.21	4.17	5.34	5.31	5.83	5.37
Interest Expense	0.16	0.23	0.22	0.30	0.27	0.26	0.84	0.28	0.09	0.13	0.16
Interest & Investment Income	1.31	1.85	3.58	3.93	4.62	5.81	5.23	5.33	5.51	5.69	5.35
Other Income / (Expense), net	-0.43	0.49	-0.35	0.68	0.13	0.66	-0.22	0.29	-0.11	0.26	0.17
Income Tax Expense	20	19	16	11	14	10	7.92	9.00	9.43	11	13
Net Income / (Loss) Attributable to Noncontrolling Interest	0.09	0.08	0.07	0.05	0.05	0.03	0.00	-	0.00	0.00	0.00
Basic Earnings per Share	$6.68	$8.32	$6.71	$5.49	$5.35	$4.80	$4.31	$4.09	$4.15	$5.33	$6.97
Weighted Average Basic Shares Outstanding	8.92M	8.90M	8.87M	8.84M	8.67M	8.66M	8.36M	8.51M	8.29M	8.23M	8.10M
Diluted Earnings per Share	$6.63	$8.25	$6.66	$5.41	$5.29	$4.76	$4.27	$4.05	$4.11	$5.28	$6.90
Weighted Average Diluted Shares Outstanding	8.99M	8.98M	8.94M	8.92M	8.76M	8.73M	8.43M	8.59M	8.37M	8.31M	8.19M
Weighted Average Basic & Diluted Shares Outstanding	8.89M	8.91M	8.69M	8.67M	8.68M	8.33M	8.35M	8.28M	8.25M	8.11M	8.01M

This table details how cash moves in and out of Cavco Industries' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	24	1.17	36	54	0.61	56	84	-80	24	85
Net Cash From Operating Activities	26	44	46	59	33	102	114	144	256	225
Net Cash From Continuing Operating Activities	26	44	46	59	33	102	114	144	256	225
Net Income / (Loss) Continuing Operations	24	29	38	62	69	75	77	198	241	158
Consolidated Net Income / (Loss)	24	29	38	62	69	75	77	198	241	158
Depreciation Expense	3.76	3.92	3.69	4.03	4.70	5.78	6.32	11	17	19
Non-Cash Adjustments To Reconcile Net Income	-4.52	6.89	-9.16	-7.28	7.79	2.61	-0.58	255	290	211
Changes in Operating Assets and Liabilities, net	2.65	4.19	13	0.72	-48	18	32	-320	-292	-163
Net Cash From Investing Activities	-2.10	-38	-7.06	-4.67	-5.82	-25	-23	-159	-129	-32
Net Cash From Continuing Investing Activities	-2.10	-38	-7.06	-4.67	-5.82	-25	-23	-159	-129	-32
Purchase of Property, Plant & Equipment	-2.21	-3.52	-5.30	-8.39	-7.64	-14	-26	-19	-44	-17
Acquisitions	0.00	-28	0.00	-1.64	0.00	-16	0.00	-141	-106	-19
Purchase of Investments	-17	-17	-11	-13	-7.34	-12	-18	-13	-13	-13
Sale of Property, Plant & Equipment	6.04	0.09	0.15	0.47	0.13	6.54	0.24	1.33	1.82	4.81
Sale and/or Maturity of Investments	11	10	9.02	17	9.03	10	19	12	31	13
Net Cash From Financing Activities	0.05	-4.15	-2.96	0.12	-26	-21	-6.98	-65	-102	-108
Net Cash From Continuing Financing Activities	0.05	-4.15	-2.96	0.12	-26	-21	-6.98	-65	-102	-108
Repayment of Debt	-7.70	-7.51	-8.23	-8.04	-27	-20	-2.79	-9.38	-0.64	-0.49
Repurchase of Common Equity	-	-	-	-	0.00	0.00	-1.44	-60	-103	-109
Payment of Dividends	-	-	-	-	-	0.00	0.00	-0.38	-0.78	-0.42
Issuance of Debt	3.57	1.38	4.27	9.08	0.39	0.23	0.06	0.11	0.00	0.00
Other Financing Activities, net	4.18	1.98	1.01	-0.92	-0.11	-1.07	-2.82	4.16	2.64	2.51
Cash Interest Paid	4.10	3.86	3.40	2.91	2.30	0.74	0.47	0.45	0.62	0.80
Cash Income Taxes Paid	7.37	15	18	17	20	19	19	31	82	37

This table details how cash moves in and out of Cavco Industries' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Change in Cash & Equivalents	-6.37	95	38	-103	83	29	-28	2.15	10	7.28	-7.59
Net Cash From Operating Activities	58	105	67	26	82	78	46	19	47	55	38
Net Cash From Continuing Operating Activities	58	105	67	26	82	78	46	19	47	55	38
Net Income / (Loss) Continuing Operations	60	74	60	47	46	42	36	34	34	44	56
Consolidated Net Income / (Loss)	60	74	60	47	46	42	36	34	34	44	56
Depreciation Expense	3.95	4.34	3.89	4.73	4.57	4.67	4.62	4.67	4.76	4.76	4.78
Non-Cash Adjustments To Reconcile Net Income	22	28	31	210	68	58	47	113	39	53	43
Changes in Operating Assets and Liabilities, net	-28	-1.37	-27	-236	-36	-26	-42	-133	-30	-47	-67
Net Cash From Investing Activities	-24	-11	5.73	-100	2.09	-8.51	-20	-5.17	-5.35	-5.68	-2.95
Net Cash From Continuing Investing Activities	-24	-11	5.73	-100	2.09	-8.51	-20	-5.17	-5.35	-5.68	-2.95
Purchase of Property, Plant & Equipment	-25	-8.18	-7.66	-3.26	-4.18	-4.29	-4.77	-4.18	-4.98	-4.88	-5.43
Purchase of Investments	-4.23	-5.51	-0.46	-2.34	-1.71	-4.79	-0.91	-5.62	-4.55	-7.89	-9.16
Sale of Property, Plant & Equipment	0.28	0.12	0.00	1.41	4.43	0.06	0.02	0.29	0.01	0.12	0.07
Sale and/or Maturity of Investments	4.55	3.04	14	9.70	3.55	1.81	3.93	3.84	4.16	6.97	12
Net Cash From Financing Activities	-40	0.99	-35	-28	-1.49	-41	-54	-11	-32	-42	-42
Net Cash From Continuing Financing Activities	-40	0.99	-35	-28	-1.49	-41	-54	-11	-32	-42	-42
Repayment of Debt	-0.17	-0.23	-0.16	-0.09	-0.16	-0.14	-0.15	-0.05	-0.05	-0.13	-0.08
Repurchase of Common Equity	-39	-	-34	-30	0.00	-41	-56	-13	-29	-43	-42
Other Financing Activities, net	-0.85	1.46	-0.09	2.12	-1.21	0.48	1.93	1.31	-2.35	1.22	-0.17
Cash Income Taxes Paid	18	30	23	11	8.12	11	10	7.98	4.72	14	15

This table presents Cavco Industries' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	503	554	607	675	725	810	952	1,155	1,308	1,354
Total Current Assets	265	299	357	419	462	516	652	744	805	852
Cash & Equivalents	97	98	133	187	187	242	322	244	271	353
Restricted Cash	10.00	10	12	11	12	13	17	15	12	15
Short-Term Investments	7.11	10	11	12	13	15	19	20	15	18
Note & Lease Receivable	26	25	39	37	45	47	52	53	105	107
Accounts Receivable	27	29	29	35	41	44	52	96	89	77
Inventories, net	75	95	94	109	116	114	131	244	263	241
Prepaid Expenses	14	22	30	28	45	42	58	72	93	83
Plant, Property, & Equipment, net	45	55	57	63	63	77	97	164	228	224
Total Noncurrent Assets	192	200	194	193	200	217	203	247	333	326
Long-Term Investments	25	29	30	34	32	32	35	35	19	17
Noncurrent Note & Lease Receivables	90	90	83	75	84	81	62	65	143	119
Goodwill	77	80	80	83	73	75	75	101	115	122
Intangible Assets	-	-	-	-	9.78	15	14	28	30	28
Other Noncurrent Operating Assets	-	-	-	-	0.00	14	16	17	27	39
Other Noncurrent Nonoperating Assets	1.08	1.08	0.72	1.26	0.35	0.34	0.34	0.34	0.34	0.59
Total Liabilities & Shareholders' Equity	503	554	607	675	725	810	952	1,155	1,308	1,354
Total Liabilities	182	201	213	218	196	203	268	324	330	321
Total Current Liabilities	101	125	140	176	174	172	237	294	293	273
Accounts Payable	18	19	24	24	29	30	32	43	31	34
Accrued Expenses	77	100	110	127	125	140	203	251	263	240
Total Noncurrent Liabilities	81	76	73	41	22	31	31	30	37	47
Noncurrent Deferred & Payable Income Tax Liabilities	21	21	21	7.58	7.00	7.30	7.39	5.53	7.58	4.58
Other Noncurrent Operating Liabilities	-	-	-	-	0.00	11	13	24	29	43
Total Equity & Noncontrolling Interests	320	353	394	457	530	608	684	831	978	1,033
Total Preferred & Common Equity	320	353	394	457	530	608	684	830	976	1,033
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	320	353	394	457	530	608	684	830	976	1,033
Common Stock	238	242	245	246	250	252	254	263	272	281
Retained Earnings	82	110	148	209	280	355	431	629	869	1,027
Treasury Stock	-	-	-	-	-	0.00	-1.44	-61	-164	-275
Accumulated Other Comprehensive Income / (Loss)	0.50	1.29	1.39	1.44	-0.03	0.09	0.10	-0.40	-0.62	-0.33

This table presents Cavco Industries' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Total Assets	1,112	1,184	1,265	1,264	1,353	1,369	1,327	1,381	1,398	1,386
Total Current Assets	704	748	820	833	859	875	833	878	902	878
Cash & Equivalents	267	238	333	376	352	377	353	359	364	363
Restricted Cash	16	15	15	9.91	14	17	13	19	22	15
Short-Term Investments	21	16	16	17	14	14	17	21	25	16
Note & Lease Receivable	55	55	51	48	64	61	63	113	110	106
Accounts Receivable	65	108	97	80	85	89	71	85	94	92
Inventories, net	200	255	234	215	254	244	237	245	244	243
Prepaid Expenses	80	62	74	86	76	73	80	78	83	79
Plant, Property, & Equipment, net	158	186	190	194	224	224	224	225	225	226
Total Noncurrent Assets	251	250	255	238	271	270	269	332	322	340
Long-Term Investments	35	37	38	22	18	21	16	15	13	18
Noncurrent Note & Lease Receivables	68	67	72	71	81	69	66	129	123	137
Goodwill	102	101	101	101	115	116	121	122	122	122
Intangible Assets	29	28	27	27	29	29	29	28	27	27
Other Noncurrent Operating Assets	16	17	16	17	26	34	37	38	36	35
Other Noncurrent Nonoperating Assets	0.34	0.34	0.34	0.34	0.59	0.59	0.59	0.59	0.59	0.59
Total Liabilities & Shareholders' Equity	1,112	1,184	1,265	1,264	1,353	1,369	1,327	1,381	1,398	1,386
Total Liabilities	305	332	335	308	329	350	318	342	356	329
Total Current Liabilities	273	305	306	278	293	305	271	296	311	285
Accounts Payable	34	45	43	27	29	41	24	31	39	26
Accrued Expenses	238	260	263	252	265	264	247	265	272	259
Total Noncurrent Liabilities	32	27	29	30	36	44	47	46	45	43
Noncurrent Deferred & Payable Income Tax Liabilities	8.54	3.06	6.05	8.66	5.70	5.74	5.79	4.60	4.73	4.64
Other Noncurrent Operating Liabilities	12	24	23	21	30	38	41	42	40	39
Total Equity & Noncontrolling Interests	807	852	930	956	1,024	1,019	1,009	1,039	1,042	1,057
Total Preferred & Common Equity	806	852	929	956	1,023	1,019	1,009	1,039	1,042	1,057
Preferred Stock	0.00	1.00	0.00	0.00	1.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	806	852	929	956	1,023	1,019	1,009	1,039	1,042	1,057
Common Stock	262	264	267	269	272	274	278	281	285	287
Retained Earnings	575	688	762	822	916	957	993	1,062	1,105	1,162
Treasury Stock	-31	-100	-100	-134	-164	-212	-262	-304	-348	-391
Accumulated Other Comprehensive Income / (Loss)	-0.04	-0.52	-0.82	-0.74	-0.66	-0.60	-0.36	-0.28	-0.08	-0.15

This table displays calculated financial ratios and metrics derived from Cavco Industries' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.25%	25.71%	8.63%	12.59%	10.50%	10.29%	4.36%	46.85%	31.68%	-16.24%
EBITDA Growth	24.61%	14.54%	21.21%	37.12%	9.05%	5.74%	1.57%	116.21%	42.57%	-36.81%
EBIT Growth	28.37%	15.45%	23.42%	38.84%	8.68%	4.83%	1.09%	119.00%	42.00%	-39.45%
NOPAT Growth	15.68%	22.36%	29.83%	48.15%	15.28%	2.91%	2.48%	168.88%	23.28%	-39.07%
Net Income Growth	27.32%	19.83%	32.98%	62.04%	11.58%	9.39%	2.10%	157.99%	21.80%	-34.44%
EPS Growth	36.08%	19.32%	32.38%	60.19%	10.78%	9.46%	1.85%	158.67%	26.29%	-31.84%
Operating Cash Flow Growth	-45.04%	69.44%	5.16%	28.77%	-44.31%	209.83%	12.08%	26.48%	77.29%	-12.13%
Free Cash Flow Firm Growth	-29.88%	-61.74%	246.62%	31.47%	-55.81%	179.90%	39.55%	-129.23%	51.67%	1,563.99%
Invested Capital Growth	-1.99%	7.56%	-0.09%	2.33%	16.10%	1.50%	-5.85%	71.16%	47.48%	-5.54%
Revenue Q/Q Growth	1.80%	5.33%	2.75%	5.39%	-0.15%	1.36%	4.84%	13.93%	-1.34%	-3.04%
EBITDA Q/Q Growth	5.72%	3.63%	9.33%	19.83%	-4.95%	-11.08%	15.86%	31.15%	-4.50%	-7.94%
EBIT Q/Q Growth	6.56%	3.76%	10.13%	20.77%	-5.37%	-11.96%	17.07%	31.10%	-4.88%	-8.66%
NOPAT Q/Q Growth	7.54%	3.35%	10.96%	13.92%	0.21%	-8.13%	-8.04%	18.40%	-4.68%	-9.07%
Net Income Q/Q Growth	7.90%	3.76%	11.45%	22.39%	-3.06%	-9.60%	20.85%	16.62%	-2.45%	-7.84%
EPS Q/Q Growth	5.18%	3.96%	11.20%	22.12%	-3.01%	-9.80%	20.79%	16.87%	-1.39%	-6.89%
Operating Cash Flow Q/Q Growth	-31.90%	0.95%	22.86%	91.45%	-46.62%	19.98%	-8.76%	-2.84%	2.95%	-3.02%
Free Cash Flow Firm Q/Q Growth	-20.23%	-14.77%	23.63%	85.10%	-49.47%	17.71%	-31.80%	32.26%	-106.54%	134.65%
Invested Capital Q/Q Growth	-1.77%	-0.57%	-1.90%	-7.42%	0.20%	-4.47%	7.23%	7.78%	43.41%	18.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.26%	20.28%	20.42%	20.74%	21.37%	21.71%	21.57%	25.12%	25.90%	23.79%
EBITDA Margin	8.06%	7.34%	8.19%	9.98%	9.85%	9.44%	9.19%	13.53%	14.65%	11.05%
Operating Margin	6.79%	6.51%	7.34%	8.47%	8.74%	8.00%	8.02%	12.44%	13.84%	9.97%
EBIT Margin	7.40%	6.79%	7.72%	9.52%	9.36%	8.90%	8.62%	12.85%	13.86%	10.02%
Profit (Net Income) Margin	4.20%	4.01%	4.91%	7.06%	7.13%	7.07%	6.92%	12.15%	11.24%	8.80%
Tax Burden Percent	63.81%	64.82%	68.66%	78.32%	79.17%	80.73%	79.09%	93.28%	78.51%	79.28%
Interest Burden Percent	89.06%	90.98%	92.56%	94.70%	96.18%	98.42%	101.47%	101.36%	103.29%	110.76%
Effective Tax Rate	36.19%	35.18%	31.34%	21.68%	20.83%	19.27%	20.91%	6.72%	21.49%	20.72%
Return on Invested Capital (ROIC)	9.82%	11.69%	14.66%	21.47%	22.65%	21.53%	22.56%	46.13%	36.41%	19.14%
ROIC Less NNEP Spread (ROIC-NNEP)	11.15%	13.57%	15.63%	19.10%	21.64%	18.92%	20.65%	43.59%	33.39%	13.08%
Return on Net Nonoperating Assets (RNNOA)	-2.02%	-3.22%	-4.50%	-7.03%	-8.74%	-8.33%	-10.69%	-20.02%	-9.78%	-3.44%
Return on Equity (ROE)	7.80%	8.48%	10.15%	14.45%	13.91%	13.20%	11.87%	26.11%	26.63%	15.70%
Cash Return on Invested Capital (CROIC)	11.83%	4.41%	14.74%	19.16%	7.75%	20.04%	28.59%	-6.36%	-1.97%	24.84%
Operating Return on Assets (OROA)	8.63%	9.16%	10.29%	12.94%	12.87%	12.30%	10.84%	19.86%	24.12%	13.51%
Return on Assets (ROA)	4.90%	5.40%	6.54%	9.59%	9.80%	9.78%	8.70%	18.77%	19.56%	11.86%
Return on Common Equity (ROCE)	7.80%	8.48%	10.15%	14.45%	13.91%	13.20%	11.87%	26.09%	26.60%	15.70%
Return on Equity Simple (ROE_SIMPLE)	7.44%	8.08%	9.62%	13.45%	12.96%	12.35%	11.21%	23.81%	24.67%	15.28%
Net Operating Profit after Tax (NOPAT)	25	30	39	58	67	69	70	189	233	142
NOPAT Margin	4.33%	4.22%	5.04%	6.63%	6.92%	6.46%	6.34%	11.61%	10.87%	7.91%
Net Nonoperating Expense Percent (NNEP)	-1.33%	-1.88%	-0.97%	2.38%	1.01%	2.61%	1.91%	2.54%	3.01%	6.06%
Cost of Revenue to Revenue	77.74%	79.72%	79.58%	79.26%	78.63%	78.29%	78.43%	74.88%	74.10%	76.21%
SG&A Expenses to Revenue	15.47%	13.77%	13.08%	12.27%	12.63%	13.71%	13.55%	12.68%	12.06%	13.81%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.47%	13.77%	13.08%	12.27%	12.63%	13.71%	13.55%	12.68%	12.06%	13.81%
Earnings before Interest and Taxes (EBIT)	42	48	60	83	90	94	96	209	297	180
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	46	52	63	87	95	100	102	220	314	198
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.08	2.35	2.65	3.43	2.02	2.23	3.13	2.69	2.83	3.22
Price to Tangible Book Value (P/TBV)	2.73	3.04	3.33	4.20	2.39	2.62	3.60	3.19	3.32	3.77
Price to Revenue (P/Rev)	1.17	1.17	1.35	1.80	1.11	1.28	1.93	1.37	1.29	1.86
Price to Earnings (P/E)	27.91	29.10	27.58	25.53	15.58	18.08	27.87	11.30	11.48	21.11
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.58%	3.44%	3.63%	3.92%	6.42%	5.53%	3.59%	8.85%	8.71%	4.74%
Enterprise Value to Invested Capital (EV/IC)	2.40	2.80	3.46	5.09	2.72	3.34	5.81	3.72	3.21	4.06
Enterprise Value to Revenue (EV/Rev)	1.05	1.05	1.19	1.59	0.89	1.01	1.58	1.18	1.14	1.63
Enterprise Value to EBITDA (EV/EBITDA)	12.99	14.24	14.50	15.95	9.06	10.68	17.24	8.73	7.79	14.76
Enterprise Value to EBIT (EV/EBIT)	14.15	15.39	15.39	16.72	9.53	11.34	18.38	9.19	8.24	16.28
Enterprise Value to NOPAT (EV/NOPAT)	24.16	24.79	23.57	24.00	12.90	15.62	24.98	10.17	10.51	20.63
Enterprise Value to Operating Cash Flow (EV/OCF)	23.08	17.10	20.07	23.51	26.17	10.53	15.39	13.32	9.57	13.03
Enterprise Value to Free Cash Flow (EV/FCFF)	20.05	65.80	23.43	26.88	37.70	16.79	19.71	0.00	0.00	15.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.17	0.15	0.13	0.06	0.02	0.02	0.00	0.00	0.00
Long-Term Debt to Equity	0.19	0.16	0.13	0.07	0.03	0.02	0.02	0.00	0.00	0.00
Financial Leverage	-0.18	-0.24	-0.29	-0.37	-0.40	-0.44	-0.52	-0.46	-0.29	-0.26
Leverage Ratio	1.59	1.57	1.55	1.51	1.42	1.35	1.36	1.39	1.36	1.32
Compound Leverage Factor	1.42	1.43	1.44	1.43	1.36	1.33	1.38	1.41	1.41	1.47
Debt to Total Capital	17.30%	14.76%	12.82%	11.57%	6.06%	2.40%	1.75%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	1.70%	1.51%	1.42%	5.04%	3.46%	0.36%	0.27%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	15.59%	13.25%	11.40%	6.53%	2.59%	2.04%	1.49%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.10%	0.12%	0.00%
Common Equity to Total Capital	82.70%	85.24%	87.18%	88.43%	93.94%	97.60%	98.25%	99.90%	99.88%	100.00%
Debt to EBITDA	1.47	1.17	0.91	0.69	0.36	0.15	0.12	0.00	0.00	0.00
Net Debt to EBITDA	-1.57	-1.64	-2.01	-2.11	-2.22	-2.86	-3.74	0.00	0.00	0.00
Long-Term Debt to EBITDA	1.32	1.05	0.81	0.39	0.15	0.13	0.10	0.00	0.00	0.00
Debt to NOPAT	2.73	2.04	1.49	1.04	0.51	0.22	0.17	0.00	0.00	0.00
Net Debt to NOPAT	-2.91	-2.86	-3.27	-3.18	-3.15	-4.18	-5.43	0.00	0.00	0.00
Long-Term Debt to NOPAT	2.46	1.83	1.32	0.58	0.22	0.19	0.15	0.00	0.00	0.00
Altman Z-Score	4.21	4.71	5.32	6.89	6.03	6.83	7.43	7.38	8.80	9.57
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.11%	0.06%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.62	2.39	2.54	2.37	2.66	3.00	2.75	2.53	2.74	3.12
Quick Ratio	1.55	1.30	1.51	1.53	1.64	2.02	1.88	1.41	1.64	2.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	30	11	39	52	23	64	89	-26	-13	184
Operating Cash Flow to CapEx	0.00%	1,270.96%	889.15%	745.27%	437.17%	1,304.49%	450.77%	832.51%	604.62%	1,780.93%
Free Cash Flow to Firm to Interest Expense	6.45	2.59	8.83	11.73	6.62	42.67	120.64	-37.08	-13.82	111.68
Operating Cash Flow to Interest Expense	5.60	9.98	10.31	13.41	9.53	68.05	154.51	205.45	280.98	136.25
Operating Cash Flow Less CapEx to Interest Expense	6.44	9.19	9.15	11.61	7.35	62.83	120.24	180.77	234.51	128.60
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.17	1.35	1.33	1.36	1.38	1.38	1.26	1.54	1.74	1.35
Accounts Receivable Turnover	23.73	25.39	26.43	27.02	25.20	25.00	23.17	21.97	23.11	21.56
Inventory Turnover	6.07	6.68	6.53	6.80	6.72	7.24	7.10	6.49	6.26	5.42
Fixed Asset Turnover	12.19	14.28	13.81	14.48	15.18	15.10	12.74	12.48	10.92	7.93
Accounts Payable Turnover	26.62	31.27	28.96	28.90	28.52	28.07	28.01	32.40	43.02	42.57
Days Sales Outstanding (DSO)	15.38	14.37	13.81	13.51	14.48	14.60	15.75	16.61	15.79	16.93
Days Inventory Outstanding (DIO)	60.10	54.68	55.92	53.65	54.33	50.44	51.40	56.20	58.29	67.31
Days Payable Outstanding (DPO)	13.71	11.67	12.60	12.63	12.80	13.00	13.03	11.26	8.48	8.57
Cash Conversion Cycle (CCC)	61.77	57.38	57.13	54.53	56.01	52.03	54.12	61.55	65.60	75.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	248	266	266	272	316	321	302	517	762	720
Invested Capital Turnover	2.27	2.77	2.91	3.24	3.27	3.33	3.56	3.97	3.35	2.42
Increase / (Decrease) in Invested Capital	-5.03	19	-0.23	6.21	44	4.75	-19	215	245	-42
Enterprise Value (EV)	593	745	919	1,387	859	1,071	1,755	1,921	2,447	2,927
Market Capitalization	665	831	1,047	1,570	1,069	1,357	2,136	2,234	2,762	3,331
Book Value per Share	$36.14	$39.63	$43.86	$50.58	$58.21	$66.46	$74.37	$90.63	$112.30	$123.81
Tangible Book Value per Share	$27.48	$30.61	$34.96	$41.40	$49.12	$56.59	$64.64	$76.50	$95.70	$105.82
Total Capital	387	414	452	517	564	623	696	831	978	1,033
Total Debt	67	61	58	60	34	15	12	0.00	0.00	0.00
Total Long-Term Debt	60	55	52	34	15	13	10	0.00	0.00	0.00
Net Debt	-72	-86	-128	-184	-210	-286	-381	-314	-317	-404
Capital Expenditures (CapEx)	-3.83	3.43	5.15	7.91	7.51	7.80	25	17	42	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	57	62	68	58	95	76	58	171	213	192
Debt-free Net Working Capital (DFNWC)	171	180	223	268	308	346	417	450	511	579
Net Working Capital (NWC)	164	174	217	242	288	344	415	450	511	579
Net Nonoperating Expense (NNE)	0.73	1.50	1.05	-3.72	-2.01	-6.52	-6.40	-8.86	-7.97	-16
Net Nonoperating Obligations (NNO)	-73	-87	-128	-185	-214	-287	-382	-314	-215	-313
Total Depreciation and Amortization (D&A)	3.76	3.92	3.69	4.03	4.70	5.78	6.32	11	17	19
Debt-free, Cash-free Net Working Capital to Revenue	10.04%	8.67%	8.73%	6.71%	9.91%	7.20%	5.24%	10.50%	9.94%	10.70%
Debt-free Net Working Capital to Revenue	30.10%	25.25%	28.81%	30.80%	31.95%	32.62%	37.59%	27.65%	23.86%	32.23%
Net Working Capital to Revenue	28.94%	24.37%	27.99%	27.81%	29.92%	32.41%	37.43%	27.65%	23.86%	32.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.69	$3.21	$4.23	$6.82	$7.56	$8.22	$8.34	$21.54	$27.20	$18.55
Adjusted Weighted Average Basic Shares Outstanding	8.85M	8.89M	8.98M	9.02M	9.08M	9.13M	9.19M	9.18M	8.84M	8.51M
Adjusted Diluted Earnings per Share	$2.64	$3.15	$4.17	$6.68	$7.40	$8.10	$8.25	$21.34	$26.95	$18.37
Adjusted Weighted Average Diluted Shares Outstanding	9.02M	9.05M	9.11M	9.20M	9.27M	9.27M	9.29M	9.26M	8.92M	8.59M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.87M	8.94M	9.02M	9.04M	9.10M	9.17M	9.18M	8.89M	8.67M	8.28M
Normalized Net Operating Profit after Tax (NOPAT)	25	30	39	58	67	69	70	189	233	142
Normalized NOPAT Margin	4.33%	4.22%	5.04%	6.63%	6.92%	6.46%	6.34%	11.61%	10.87%	7.91%
Pre Tax Income Margin	6.59%	6.18%	7.14%	9.01%	9.00%	8.76%	8.75%	13.03%	14.32%	11.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.14	11.09	13.44	18.86	26.17	63.19	129.41	297.94	326.37	109.05
NOPAT to Interest Expense	5.35	6.89	8.78	13.14	19.34	45.85	95.19	269.07	255.90	86.05
EBIT Less CapEx to Interest Expense	9.97	10.31	12.28	17.06	23.99	57.98	95.13	273.26	279.89	101.40
NOPAT Less CapEx to Interest Expense	6.19	6.10	7.62	11.34	17.16	40.64	60.91	244.39	209.43	78.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	0.32%	0.27%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.88%	30.33%	43.26%	69.49%

This table displays calculated financial ratios and metrics derived from Cavco Industries' official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	78.06%	60.59%	15.96%	-5.76%	-19.12%	-21.71%	-10.75%	-11.81%	0.36%	12.26%	16.85%
EBITDA Growth	136.22%	106.91%	31.07%	-19.53%	-25.84%	-46.85%	-42.39%	-28.67%	-29.05%	6.63%	56.16%
EBIT Growth	135.55%	104.67%	32.49%	-21.39%	-27.93%	-49.44%	-45.66%	-31.03%	-31.75%	7.11%	62.31%
NOPAT Growth	133.84%	118.30%	-22.82%	-20.76%	-27.33%	-49.56%	-43.08%	-32.28%	-29.60%	7.09%	59.94%
Net Income Growth	120.71%	96.90%	-25.15%	-11.31%	-22.25%	-43.97%	-39.61%	-28.35%	-25.82%	5.39%	56.90%
EPS Growth	127.05%	103.20%	-22.29%	-6.56%	-20.21%	-42.30%	-35.89%	-25.14%	-22.31%	10.92%	61.59%
Operating Cash Flow Growth	139.92%	87.60%	46.42%	40.08%	41.30%	-25.59%	-31.67%	-27.36%	-42.41%	-29.81%	-17.70%
Free Cash Flow Firm Growth	-989.47%	100.20%	104.22%	-26.34%	80.24%	-9,247.36%	-960.97%	135.71%	-77.64%	-213.63%	-71.88%
Invested Capital Growth	78.59%	15.88%	10.84%	47.48%	14.42%	11.82%	14.59%	-5.54%	15.02%	20.34%	21.25%
Revenue Q/Q Growth	16.39%	-1.86%	-13.30%	-4.84%	-0.11%	-5.01%	-1.16%	-5.97%	13.68%	6.25%	2.87%
EBITDA Q/Q Growth	10.74%	16.36%	-19.81%	-22.12%	2.07%	-16.61%	-13.08%	-3.58%	1.52%	25.33%	27.30%
EBIT Q/Q Growth	11.86%	16.68%	-20.26%	-24.46%	2.54%	-18.14%	-14.30%	-4.13%	1.47%	28.47%	29.88%
NOPAT Q/Q Growth	6.83%	22.59%	-21.08%	-23.33%	-2.03%	-14.91%	-10.95%	-8.78%	1.85%	29.44%	32.99%
Net Income Q/Q Growth	11.79%	24.30%	-19.69%	-20.52%	-2.00%	-10.42%	-13.44%	-5.70%	1.46%	27.26%	28.86%
EPS Q/Q Growth	14.51%	24.43%	-19.27%	-18.77%	-2.22%	-10.02%	-10.29%	-5.15%	1.48%	28.47%	30.68%
Operating Cash Flow Q/Q Growth	219.00%	79.78%	-35.84%	-61.93%	221.78%	-5.33%	-41.08%	-59.53%	155.10%	15.38%	-30.91%
Free Cash Flow Firm Q/Q Growth	-13.69%	100.16%	1,757.45%	-3,957.12%	82.22%	28.20%	-74.83%	259.96%	-188.47%	-26.77%	4.19%
Invested Capital Q/Q Growth	5.74%	-3.58%	0.87%	43.41%	-17.96%	-5.77%	3.36%	18.21%	-0.10%	-1.41%	4.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.60%	27.30%	26.36%	25.32%	24.77%	23.66%	23.07%	23.57%	21.65%	22.88%	24.89%
EBITDA Margin	13.96%	16.55%	15.30%	12.52%	12.80%	11.23%	9.88%	10.13%	9.05%	10.67%	13.20%
Operating Margin	13.36%	15.71%	14.60%	11.39%	11.81%	10.05%	8.89%	8.95%	8.07%	9.68%	12.25%
EBIT Margin	13.28%	15.79%	14.53%	11.53%	11.84%	10.20%	8.84%	9.02%	8.05%	9.73%	12.29%
Profit (Net Income) Margin	10.15%	12.85%	11.90%	9.94%	9.75%	9.20%	8.05%	8.08%	7.21%	8.63%	10.82%
Tax Burden Percent	75.27%	79.95%	78.32%	80.87%	76.49%	80.47%	81.96%	79.04%	78.50%	79.74%	81.43%
Interest Burden Percent	101.48%	101.77%	104.63%	106.61%	107.73%	112.05%	111.11%	113.33%	114.10%	111.27%	108.10%
Effective Tax Rate	24.73%	20.05%	21.68%	19.13%	23.51%	19.53%	18.04%	20.96%	21.50%	20.26%	18.57%
Return on Invested Capital (ROIC)	44.45%	53.80%	49.10%	30.85%	31.30%	27.61%	23.66%	17.12%	16.93%	22.02%	28.54%
ROIC Less NNEP Spread (ROIC-NNEP)	44.30%	53.30%	48.48%	29.54%	30.32%	26.41%	22.83%	15.53%	15.77%	20.80%	27.32%
Return on Net Nonoperating Assets (RNNOA)	-19.95%	-21.85%	-20.68%	-8.65%	-11.38%	-11.28%	-9.58%	-4.08%	-5.49%	-7.69%	-9.50%
Return on Equity (ROE)	24.50%	31.94%	28.42%	22.21%	19.91%	16.33%	14.08%	13.04%	11.44%	14.32%	19.04%
Cash Return on Invested Capital (CROIC)	-4.05%	38.74%	38.03%	-1.97%	23.51%	21.21%	13.76%	24.84%	5.23%	1.82%	3.23%
Operating Return on Assets (OROA)	23.24%	28.62%	26.55%	20.06%	18.95%	14.76%	12.64%	12.16%	10.58%	13.03%	17.46%
Return on Assets (ROA)	17.75%	23.29%	21.75%	17.30%	15.61%	13.31%	11.51%	10.89%	9.47%	11.56%	15.37%
Return on Common Equity (ROCE)	24.50%	31.90%	28.38%	22.18%	19.91%	16.32%	14.08%	13.04%	11.44%	14.32%	19.04%
Return on Equity Simple (ROE_SIMPLE)	27.06%	28.73%	25.84%	0.00%	22.25%	19.13%	16.99%	0.00%	14.05%	14.22%	15.95%
Net Operating Profit after Tax (NOPAT)	59	73	57	44	43	37	33	30	30	39	52
NOPAT Margin	10.05%	12.56%	11.43%	9.21%	9.03%	8.09%	7.29%	7.07%	6.34%	7.72%	9.98%
Net Nonoperating Expense Percent (NNEP)	0.16%	0.49%	0.63%	1.32%	0.97%	1.20%	0.83%	1.60%	1.16%	1.22%	1.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	3.23%	-	-	-	4.93%
Cost of Revenue to Revenue	75.40%	72.71%	73.64%	74.68%	75.23%	76.34%	76.93%	76.43%	78.35%	77.12%	75.11%
SG&A Expenses to Revenue	11.24%	11.59%	11.77%	13.94%	12.96%	13.61%	14.17%	14.62%	13.58%	13.20%	12.64%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	11.24%	11.59%	11.77%	13.94%	12.96%	13.61%	14.17%	14.62%	13.58%	13.20%	12.64%
Earnings before Interest and Taxes (EBIT)	78	91	73	55	56	46	40	38	38	49	64
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	82	96	77	60	61	51	44	43	43	54	69
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.10	1.97	2.11	2.83	2.50	2.26	2.86	3.22	2.76	3.42	3.40
Price to Tangible Book Value (P/TBV)	2.48	2.29	2.43	3.32	2.91	2.64	3.36	3.77	3.23	3.99	3.96
Price to Revenue (P/Rev)	0.95	0.87	0.93	1.29	1.26	1.21	1.56	1.86	1.60	1.92	1.86
Price to Earnings (P/E)	7.79	6.86	8.17	11.48	11.25	11.84	16.86	21.11	19.65	24.05	21.31
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	12.84%	14.58%	12.25%	8.71%	8.89%	8.45%	5.93%	4.74%	5.09%	4.16%	4.69%
Enterprise Value to Invested Capital (EV/IC)	2.73	2.71	3.00	3.21	3.45	3.18	4.08	4.06	3.41	4.43	4.31
Enterprise Value to Revenue (EV/Rev)	0.79	0.68	0.73	1.14	1.06	0.98	1.34	1.63	1.37	1.70	1.65
Enterprise Value to EBITDA (EV/EBITDA)	5.70	4.61	4.84	7.79	7.38	7.57	11.54	14.76	13.58	17.07	15.23
Enterprise Value to EBIT (EV/EBIT)	6.01	4.86	5.10	8.24	7.85	8.15	12.63	16.28	15.15	19.01	16.76
Enterprise Value to NOPAT (EV/NOPAT)	6.67	5.44	6.52	10.51	9.98	10.38	15.94	20.63	19.01	23.85	21.04
Enterprise Value to Operating Cash Flow (EV/OCF)	8.36	6.29	6.41	9.57	7.72	7.42	10.73	13.03	12.93	18.86	20.08
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	7.51	8.28	0.00	15.69	15.84	31.69	15.89	69.78	266.11	146.20
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.45	-0.41	-0.43	-0.29	-0.38	-0.43	-0.42	-0.26	-0.35	-0.37	-0.35
Leverage Ratio	1.39	1.39	1.35	1.36	1.35	1.35	1.32	1.32	1.33	1.34	1.31
Compound Leverage Factor	1.41	1.42	1.41	1.45	1.46	1.51	1.47	1.50	1.51	1.49	1.42
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.12%	0.00%	0.00%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.08%	0.10%	0.10%	0.12%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.97%	99.90%	99.90%	99.88%	99.96%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	6.32	6.51	7.27	8.19	7.75	6.94	8.50	9.22	8.00	9.06	9.79
Noncontrolling Interest Sharing Ratio	0.02%	0.12%	0.12%	0.11%	0.04%	0.05%	0.05%	0.06%	0.02%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.46	2.68	2.99	2.74	2.93	2.87	3.07	3.12	2.96	2.90	3.08
Quick Ratio	1.37	1.62	1.87	1.64	1.76	1.77	1.85	2.03	1.95	1.91	2.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-181	0.28	5.23	-202	-36	-26	-45	72	-64	-81	-77
Operating Cash Flow to CapEx	235.56%	1,298.71%	877.21%	1,385.37%	0.00%	1,841.34%	967.83%	477.22%	954.54%	1,148.28%	703.88%
Free Cash Flow to Firm to Interest Expense	-1,126.64	1.21	24.19	-671.91	-134.75	-100.14	-53.44	253.43	-707.47	-645.73	-498.95
Operating Cash Flow to Interest Expense	361.74	449.36	311.00	85.25	309.37	303.14	54.52	65.42	526.59	437.45	243.72
Operating Cash Flow Less CapEx to Interest Expense	208.17	414.76	275.55	79.09	310.32	286.68	48.88	51.71	471.42	399.35	209.10
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.75	1.81	1.83	1.74	1.60	1.45	1.43	1.35	1.31	1.34	1.42
Accounts Receivable Turnover	23.35	24.86	29.93	23.11	21.02	20.55	24.54	21.56	21.14	20.26	23.74
Inventory Turnover	6.93	7.33	7.73	6.26	5.91	5.97	6.20	5.42	5.55	5.86	6.16
Fixed Asset Turnover	13.30	12.14	12.33	10.92	9.92	9.21	8.85	7.93	8.01	8.25	8.56
Accounts Payable Turnover	37.45	36.52	53.12	43.02	40.86	34.09	55.31	42.57	46.09	35.60	59.13
Days Sales Outstanding (DSO)	15.63	14.68	12.19	15.79	17.36	17.76	14.87	16.93	17.26	18.02	15.37
Days Inventory Outstanding (DIO)	52.67	49.78	47.19	58.29	61.80	61.17	58.83	67.31	65.77	62.33	59.23
Days Payable Outstanding (DPO)	9.75	9.99	6.87	8.48	8.93	10.71	6.60	8.57	7.92	10.25	6.17
Cash Conversion Cycle (CCC)	58.55	54.46	52.51	65.60	70.23	68.22	67.10	75.66	75.12	70.10	68.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	547	527	532	762	625	589	609	720	719	709	739
Invested Capital Turnover	4.42	4.28	4.30	3.35	3.46	3.41	3.25	2.42	2.67	2.85	2.86
Increase / (Decrease) in Invested Capital	241	72	52	245	79	62	78	-42	94	120	129
Enterprise Value (EV)	1,490	1,429	1,592	2,447	2,161	1,876	2,487	2,927	2,453	3,141	3,181
Market Capitalization	1,793	1,830	2,016	2,762	2,557	2,305	2,886	3,331	2,867	3,564	3,594
Book Value per Share	$95.86	$104.44	$107.25	$112.30	$118.10	$117.46	$121.16	$123.81	$125.38	$126.25	$130.41
Tangible Book Value per Share	$81.35	$90.04	$92.93	$95.70	$101.38	$100.75	$103.22	$105.82	$107.29	$108.15	$112.03
Total Capital	852	930	956	978	1,024	1,019	1,009	1,033	1,039	1,042	1,057
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-305	-402	-424	-317	-398	-429	-399	-404	-414	-423	-412
Capital Expenditures (CapEx)	25	8.06	7.66	1.85	-0.25	4.23	4.74	3.89	4.97	4.76	5.37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	175	150	151	213	185	161	179	192	183	180	199
Debt-free Net Working Capital (DFNWC)	443	514	554	511	565	570	562	579	582	590	593
Net Working Capital (NWC)	443	514	554	511	565	570	562	579	582	590	593
Net Nonoperating Expense (NNE)	-0.54	-1.68	-2.36	-3.48	-3.43	-5.00	-3.42	-4.22	-4.17	-4.64	-4.37
Net Nonoperating Obligations (NNO)	-306	-403	-425	-215	-399	-430	-400	-313	-319	-333	-319
Total Depreciation and Amortization (D&A)	3.95	4.34	3.89	4.73	4.57	4.67	4.62	4.67	4.76	4.76	4.78
Debt-free, Cash-free Net Working Capital to Revenue	9.28%	7.11%	6.97%	9.94%	9.13%	8.46%	9.67%	10.70%	10.16%	9.73%	10.31%
Debt-free Net Working Capital to Revenue	23.52%	24.43%	25.51%	23.86%	27.84%	29.92%	30.35%	32.23%	32.37%	31.88%	30.76%
Net Working Capital to Revenue	23.52%	24.43%	25.51%	23.86%	27.84%	29.92%	30.35%	32.23%	32.37%	31.88%	30.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.68	$8.32	$6.71	$5.49	$5.35	$4.80	$4.31	$4.09	$4.15	$5.33	$6.97
Adjusted Weighted Average Basic Shares Outstanding	8.92M	8.90M	8.87M	8.84M	8.67M	8.66M	8.36M	8.51M	8.29M	8.23M	8.10M
Adjusted Diluted Earnings per Share	$6.63	$8.25	$6.66	$5.41	$5.29	$4.76	$4.27	$4.05	$4.11	$5.28	$6.90
Adjusted Weighted Average Diluted Shares Outstanding	8.99M	8.98M	8.94M	8.92M	8.76M	8.73M	8.43M	8.59M	8.37M	8.31M	8.19M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.89M	8.91M	8.69M	8.67M	8.68M	8.33M	8.35M	8.28M	8.25M	8.11M	8.01M
Normalized Net Operating Profit after Tax (NOPAT)	59	73	57	44	43	37	33	30	30	39	52
Normalized NOPAT Margin	10.05%	12.56%	11.43%	9.21%	9.03%	8.09%	7.29%	7.07%	6.34%	7.72%	9.98%
Pre Tax Income Margin	13.48%	16.07%	15.20%	12.29%	12.75%	11.43%	9.83%	10.22%	9.18%	10.83%	13.28%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	485.45	391.39	336.65	183.09	211.75	179.40	46.93	133.40	427.11	395.06	413.79
NOPAT to Interest Expense	367.39	311.22	264.94	146.25	161.60	142.32	38.68	104.62	336.23	313.36	336.08
EBIT Less CapEx to Interest Expense	331.88	356.79	301.19	176.94	212.69	162.94	41.30	119.69	371.94	356.97	379.17
NOPAT Less CapEx to Interest Expense	213.83	276.62	229.48	140.10	162.54	125.85	33.05	90.91	281.07	275.27	301.45
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.27%	0.25%	0.27%	0.32%	0.29%	0.31%	0.35%	0.27%	0.21%	0.08%	0.00%
Augmented Payout Ratio	37.47%	29.52%	42.28%	43.26%	28.61%	54.36%	74.45%	69.49%	95.31%	95.03%	75.29%

Frequently Asked Questions About Cavco Industries' Financials

When does Cavco Industries's financial year end?

According to the most recent income statement we have on file, Cavco Industries' fiscal year ends in March. Their fiscal year 2024 ended on March 30, 2024.

How has Cavco Industries' net income changed over the last 9 years?

Cavco Industries' net income appears to be on an upward trend, with a most recent value of $157.91 million in 2024, rising from $23.82 million in 2015. The previous period was $240.84 million in 2023.

What is Cavco Industries's operating income?

Cavco Industries's total operating income in 2024 was $178.98 million, based on the following breakdown:

Total Gross Profit: $426.90 million
Total Operating Expenses: $247.92 million

How has Cavco Industries revenue changed over the last 9 years?

Over the last 9 years, Cavco Industries' total revenue changed from $566.66 million in 2015 to $1.79 billion in 2024, a change of 216.7%.

How much debt does Cavco Industries have?

Cavco Industries' total liabilities were at $320.75 million at the end of 2024, a 2.9% decrease from 2023, and a 75.8% increase since 2015.

How much cash does Cavco Industries have?

In the past 9 years, Cavco Industries' cash and equivalents has ranged from $96.60 million in 2015 to $352.69 million in 2024, and is currently $352.69 million as of their latest financial filing in 2024.

How has Cavco Industries' book value per share changed over the last 9 years?

Over the last 9 years, Cavco Industries' book value per share changed from 36.14 in 2015 to 123.81 in 2024, a change of 242.6%.

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This page (NASDAQ:CVCO) was last updated on 4/15/2025 by MarketBeat.com Staff

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Cavco Industries (CVCO) Financials

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Cavco Industries (CVCO) Financials

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