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LGI Homes

LGIH Nasdaq Homebuilding Financials FY2016–FY2025

LGI Homes' revenue fell 22.6% to $1.7 billion in fiscal 2025. Its operating margin was 4.7%, down from 9.6% a year earlier. Free cash flow was −$141 million. It paid out $24 million in dividends and buybacks. The diluted share count fell 1.5%.

Last close · Oct 23, 2026

$42.47

0.7%
Value it Compare
Revenue Total sales reported in the income statement.
$1.7B
22.6% vs prior year
Operating margin Operating income as a share of revenue.
4.7%
5.0 pts
Net income Profit after all expenses, interest and tax.
$72.6M
63.0%
Free cash flow Cash from operations minus capital spending.
−$141M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
1.6%
3.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$990M
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
14.9x
On $2.85 EPS (TTM)

What LGI Homes does

No business description yet.

Legal name
LGI HOMES, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001580670-26-000019
0001580670

Revenue and margins

LGI Homes had $1.7B of revenue in fiscal 2025, down 22.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −1.0% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$141M in fiscal 2025, −8.3% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

LGI Homes returned $23.6M to shareholders in fiscal 2025. The diluted share count fell 1.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value LGI Homes yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.6B and divides by 23.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 14.9x · peers 22.2x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably LGI Homes can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $50.5M$32.0M$49.0M$53.2M$61.2M
Debt incl. finance leases $805M$1.1B$1.2B$1.5B$1.7B
Net debt / EBITDA 1.4x2.8x5.1x6.6x19.0x
Debt / equity 0.6x0.7x0.7x0.7x0.8x
Total assets $2.4B$3.1B$3.4B$3.8B$3.9B
Total liabilities $956M$1.5B$1.6B$1.7B$1.8B
Shareholders' equity $1.4B$1.6B$1.9B$2.0B$2.1B
Net debt (− = net cash) $755M$1.1B$1.2B$1.4B$1.6B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$2.6M

4 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Mar 9, 2026 Charles Michael MerdianCFO and Treasurer Sold 7,211 $42.04 $0.3M Form 4
Mar 9, 2026 Eric Thomas LiparCEO and Chairman of the Board, Director, 10% owner Sold 39,898 $42.00 $1.7M Form 4
Mar 9, 2026 Michael Larry SniderPresident and COO Sold 13,887 $42.04 $0.6M Form 4
Mar 9, 2026 Scott James GarberGeneral Counsel and Secretary Sold 1,353 $42.04 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✕ ✕ ✕
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✕ ✕ ✕
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✓ ✕
Revenue rose relative to assets ✕ ✕ ✕
F-score — / 9— / 9— / 9
Accruals ratio 7.8%9.5%5.5%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
LGI Homes LGIH $990M −22.6% 4.7% −8.3% 1.6% 14.9x —
Green Brick Partners GRBK $2.8B −1.0% — 10.2% 17.9% 9.7x — Compare →
Cavco Industries CVCO $4.2B 11.4% 10.2% 10.3% — 23.2x — Compare →
Champion Homes SKY $4.4B 7.3% 9.5% 10.1% 20.8% 23.0x 6 Compare →
Installed Building Products IBP $5.3B 1.0% 13.0% 10.1% 22.6% 21.5x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $838M $1.3B $1.5B $1.8B $2.4B $3.1B $2.3B $2.4B $2.2B $1.7B
Gross profit $222M $320M $380M $437M $603M $818M $647M $542M $533M $354M
Operating income $112M $170M $200M $228M $365M $548M $390M $233M $212M $79.8M
Interest expense $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Pretax income $114M $171M $199M $232M $368M $543M $418M $262M $259M $98.5M
Income tax $38.6M $58.1M $43.8M $53.2M $44.0M $113M $91.5M $62.5M $62.8M $25.9M
Net income $75.0M $113M $155M $179M $324M $430M $327M $199M $196M $72.6M
Diluted EPS $3.41 $4.73 $6.24 $7.02 $12.76 $17.25 $13.76 $8.42 $8.30 $3.12
Diluted shares 0.02B 0.02B 0.02B 0.03B 0.03B 0.02B 0.02B 0.02B 0.02B 0.02B
Cash flow
Cash from operations −$108M −$68.5M −$117M −$41.9M $202M $21.7M −$371M −$57.0M −$144M −$140M
Capital expenditure — — — — — — $1.2M $1.4M $2.0M $0.9M
Free cash flow — — — — — — −$372M −$58.4M −$146M −$141M
Depreciation and amortization $1.1M $0.8M $0.7M $0.6M $0.7M $1.2M $1.6M $2.4M $3.1M $4.3M
Stock-based compensation $3.4M $4.2M $5.9M $7.5M $13.5M $13.6M $9.2M $8.9M $10.5M $6.0M
Acquisitions $0.0M $0.0M $74.5M $0.0M $0.0M $67.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $1.5M $0.0M $48.1M $194M $95.1M $0.0M $31.0M $23.6M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $1.5M $0.0M $48.1M $194M $95.1M $0.0M $31.0M $23.6M
Balance sheet
Cash and short-term investments $49.5M $67.6M $46.6M $38.3M $35.9M $50.5M $32.0M $49.0M $53.2M $61.2M
Total debt $401M $475M $654M $691M $538M $805M $1.1B $1.2B $1.5B $1.7B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $2.0M $1.7M $1.4M $1.6M $3.6M $16.9M $33.0M $45.5M $57.0M $107M
Total assets $815M $1.1B $1.4B $1.7B $1.8B $2.4B $3.1B $3.4B $3.8B $3.9B
Total liabilities $459M $590M $740M $821M $687M $956M $1.5B $1.6B $1.7B $1.8B
Shareholders' equity $355M $490M $656M $845M $1.1B $1.4B $1.6B $1.9B $2.0B $2.1B
Margins
Gross margin 26.4% 25.5% 25.3% 23.8% 25.5% 26.8% 28.1% 23.0% 24.2% 20.7%
Operating margin 13.3% 13.5% 13.3% 12.4% 15.4% 18.0% 16.9% 9.9% 9.6% 4.7%
EBITDA margin 13.4% 13.6% 13.4% 12.4% 15.4% 18.0% 17.0% 10.0% 9.8% 4.9%
Net margin 9.0% 9.0% 10.3% 9.7% 13.7% 14.1% 14.2% 8.5% 8.9% 4.3%
FCF margin — — — — — — −16.1% −2.5% −6.6% −8.3%
Returns
Return on capital 12.1% 14.0% 14.5% 12.7% 20.5% 22.9% 12.5% 6.1% 4.9% 1.6%
Return on equity 24.9% 26.8% 27.1% 23.8% 32.7% 33.9% 21.5% 11.4% 10.1% 3.5%
Return on assets 10.5% 12.0% 12.6% 11.7% 18.6% 20.6% 11.9% 6.1% 5.5% 1.9%
Growth
Revenue growth 33.0% 50.1% 19.6% 22.2% 28.8% 28.8% −24.5% 2.4% −6.6% −22.6%
Net income growth 42.0% 51.0% 37.1% 15.0% 81.3% 32.7% −24.0% −39.0% −1.6% −63.0%
EPS growth 39.8% 38.7% 31.9% 12.5% 81.8% 35.2% −20.2% −38.8% −1.4% −62.4%
Share count change 1.3% 8.7% 4.0% 2.2% −0.2% −1.9% −4.7% −0.4% −0.2% −1.5%
Financial health
Net debt / EBITDA 3.1x 2.4x 3.0x 2.9x 1.4x 1.4x 2.8x 5.1x 6.6x 19.0x
Debt / equity 1.1x 1.0x 1.0x 0.8x 0.5x 0.6x 0.7x 0.7x 0.7x 0.8x
Capital allocation
Capex / revenue — — — — — — 0.1% 0.1% 0.1% 0.1%
Stock comp / revenue 0.4% 0.3% 0.4% 0.4% 0.6% 0.5% 0.4% 0.4% 0.5% 0.4%
Quality scores
Accruals ratio 25.6% 19.2% 22.0% 14.4% 7.0% 19.5% 25.5% 7.8% 9.5% 5.5%

Source: SEC EDGAR XBRL filings (CIK 0001580670). Data updated October 19, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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