Cavco Industries
CVCO · Homebuilding
$534.25
2.4%Installed Building Products
IBP · Homebuilding
$199.12
0.5%The short version
- Installed Building Products is the larger business, with $3.0B of revenue in fiscal 2025 against $2.2B for Cavco Industries.
- Cavco Industries grew revenue faster (11.4%, against 1.0%).
- Installed Building Products kept more of each dollar of sales as operating profit (13.0% operating margin, against 10.2% operating margin).
- Investors pay more for each dollar of Cavco Industries’s earnings: a P/E of 23.2x against 21.5x for Installed Building Products.
| Latest fiscal year | CVCO · FY26 | IBP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.2B | $5.3B |
| Revenue | $2.2B | $3.0B |
| Free cash flow | $232M | $301M |
| Net income | $191M | $265M |
| Growth | ||
| Revenue growth | 11.4% | 1.0% |
| 5-year growth | 15.2% | 12.4% |
| Share count change | −3.8% | −3.1% |
| Profitability | ||
| Gross margin | 23.5% | 34.0% |
| Operating margin | 10.2% | 13.0% |
| Net margin | 8.5% | 8.9% |
| FCF margin | 10.3% | 10.1% |
| Return on capital | — | 22.6% |
| Return on equity | 17.6% | 37.5% |
| Balance sheet | ||
| Net debt | — | $571M |
| Net debt / EBITDA | — | 1.3x |
| Dividends and buybacks | $160M | $260M |
| Valuation & quality | ||
| P/E | 23.2x | 21.5x |
| Piotroski F-score | — | 7 |
FY17
CVCO $774M
IBP $1.1B
FY18
CVCO $871M
IBP $1.3B
FY19
CVCO $963M
IBP $1.5B
FY20
CVCO $1.1B
IBP $1.7B
FY21
CVCO $1.1B
IBP $2.0B
FY22
CVCO $1.6B
IBP $2.7B
FY23
CVCO $2.1B
IBP $2.8B
FY24
CVCO $1.8B
IBP $2.9B
FY25
CVCO $2.0B
IBP $3.0B
FY26
CVCO $2.2B
IBP —
CVCO
IBP
FY17
CVCO 7.3%
IBP 6.6%
FY18
CVCO 8.5%
IBP 7.0%
FY19
CVCO 8.7%
IBP 8.0%
FY20
CVCO 8.0%
IBP 9.8%
FY21
CVCO 8.0%
IBP 9.5%
FY22
CVCO 12.4%
IBP 12.9%
FY23
CVCO 13.8%
IBP 13.3%
FY24
CVCO 10.0%
IBP 13.0%
FY25
CVCO 9.4%
IBP 13.0%
FY26
CVCO 10.2%
IBP —
CVCO
IBP
FY17
CVCO $40.5M
IBP $37.1M
FY18
CVCO $50.6M
IBP $61.4M
FY19
CVCO $25.2M
IBP $72.9M
FY20
CVCO $87.4M
IBP $147M
FY21
CVCO $88.5M
IBP $101M
FY22
CVCO $126M
IBP $232M
FY23
CVCO $212M
IBP $279M
FY24
CVCO $207M
IBP $251M
FY25
CVCO $157M
IBP $301M
FY26
CVCO $232M
IBP —
CVCO
IBP
FY17
CVCO —
IBP 14.5%
FY18
CVCO —
IBP 14.0%
FY19
CVCO —
IBP 15.4%
FY20
CVCO —
IBP 18.9%
FY21
CVCO —
IBP 17.9%
FY22
CVCO —
IBP 24.4%
FY23
CVCO —
IBP 23.5%
FY24
CVCO —
IBP 23.4%
FY25
CVCO —
IBP 22.6%
FY26
CVCO —
IBP —
CVCO
IBP
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.