LGI Homes vs Champion Homes

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KIRA’s take AI analyst

I put LGI Homes and Champion Homes side by side, using each one’s latest annual report. Here is what stands out:

Champion Homes is the larger business, with $2.7B of revenue in fiscal 2026 against $1.7B for LGI Homes, about 1.6 times as much.
Champion Homes grew revenue faster (7.3%, against −22.6%).
Champion Homes kept more of each dollar of sales as operating profit (9.5% operating margin, against 4.7%).
Champion Homes turned more of its sales into free cash flow (10.1% FCF margin, against −8.3%).
Champion Homes earned a higher return on the capital invested in it (20.8%, against 1.6%).
Investors pay more for each dollar of Champion Homes’s earnings: a P/E of 23.1x against 14.9x for LGI Homes.

Who comes out ahead

Of the 10 measures where higher (or lower) is clearly better, how many each company leads.

LGI Homes

LGIH

0/10

Champion Homes

SKY

10/10

Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change

Side by side

Best in the row

Latest fiscal year	LGIH FY25	SKY FY26
Size
Market cap	$990M	$4.4B
Revenue	$1.7B	$2.7B
Free cash flow	−$141M	$270M
Net income	$72.6M	$207M
Growth
Revenue growth	−22.6%	7.3%
5-year growth	−6.4%	13.4%
Share count change	−1.5%	−2.7%
Profitability
Gross margin	20.7%	26.4%
Operating margin	4.7%	9.5%
Net margin	4.3%	7.8%
FCF margin	−8.3%	10.1%
Return on capital	1.6%	20.8%
Return on equity	3.5%	13.3%
Balance sheet
Net debt	$1.6B	−$615M
Net debt / EBITDA	19.0x	−2.1x
Dividends and buybacks	$23.6M	$200M
Valuation & quality
P/E	14.9x	23.1x
Piotroski F-score	—	6

Ten years

Revenue

FY17

LGIH $1.3B

SKY $237M

FY18

LGIH $1.5B

SKY —

FY19

LGIH $1.8B

SKY $1.4B

FY20

LGIH $2.4B

SKY $1.4B

FY21

LGIH $3.1B

SKY $1.4B

FY22

LGIH $2.3B

SKY $2.2B

FY23

LGIH $2.4B

SKY $2.6B

FY24

LGIH $2.2B

SKY $2.0B

FY25

LGIH $1.7B

SKY $2.5B

FY26

LGIH —

SKY $2.7B

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LGIH SKY

Operating margin

FY17

LGIH 13.5%

SKY 0.2%

FY18

LGIH 13.3%

SKY —

FY19

LGIH 12.4%

SKY −2.2%

FY20

LGIH 15.4%

SKY 6.3%

FY21

LGIH 18.0%

SKY 7.7%

FY22

LGIH 16.9%

SKY 15.1%

FY23

LGIH 9.9%

SKY 19.9%

FY24

LGIH 9.6%

SKY 8.7%

FY25

LGIH 4.7%

SKY 9.5%

FY26

LGIH —

SKY 9.5%

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LGIH SKY

Free cash flow

FY17

LGIH —

SKY $1.5M

FY18

LGIH —

SKY —

FY19

LGIH —

SKY $53.1M

FY20

LGIH —

SKY $61.4M

FY21

LGIH —

SKY $146M

FY22

LGIH −$372M

SKY $193M

FY23

LGIH −$58.4M

SKY $364M

FY24

LGIH −$146M

SKY $170M

FY25

LGIH −$141M

SKY $190M

FY26

LGIH —

SKY $270M

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LGIH SKY

Return on capital

FY17

LGIH 14.0%

SKY —

FY18

LGIH 14.5%

SKY —

FY19

LGIH 12.7%

SKY —

FY20

LGIH 20.5%

SKY 17.3%

FY21

LGIH 22.9%

SKY 24.1%

FY22

LGIH 12.5%

SKY 66.9%

FY23

LGIH 6.1%

SKY 86.7%

FY24

LGIH 4.9%

SKY 18.5%

FY25

LGIH 1.6%

SKY 19.6%

FY26

LGIH —

SKY 20.8%

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

LGIH SKY

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.