Financial Highlights

Financial Highlights
2020 FQ2
6/30/2020
2019 FQ2
6/30/2019
Y-Y Ch (%)
2020 FQ1
3/31/2020
Q-Q Ch (%)†
Balance Sheet ($000)
Current Inventories 1,830,810 1,763,479 3.82 1,822,531 1.82
Net PP&E 72,197 47,491 52.02 41,121 302.29
Loans & Investments 163,536 123,909 31.98 156,208 18.76
Total Assets 2,327,708 2,089,206 11.42 2,198,963 23.42
Total Debt 845,505 858,926 (1.56) 833,701 5.66
Total Liabilities 1,233,303 1,184,966 4.08 1,161,282 24.81
Equity Attributable to Parent Company 1,094,405 904,240 21.03 1,037,681 21.87
Total Equity 1,094,405 904,240 21.03 1,037,681 21.87
Total Capitalization, at Book Value 1,939,910 1,763,166 10.02 1,871,382 14.65
Income Statement ($000)
Homebuilding Sales 695,146 609,383 14.07 564,136 92.89
Homebuilding Sales Expense 550,037 496,348 10.82 454,354 84.24
Revenue 714,197 623,873 14.48 577,655 94.55
Expenses 642,470 582,670 10.26 536,299 79.19
Provision for Taxes 17,219 10,957 57.15 9,610 316.71
Net Income 54,508 30,246 80.22 31,746 286.80
Net Income Attributable to Parent 54,508 30,246 80.22 31,746 286.80
Per Share Information ($)
Basic Book Value per Share 38.34 32.74 17.10 36.38 21.55
Diluted EPS after Extraordinary 1.89 1.08 75 1.09 293.58
Recurring EBITDA per share 2.97 2.04 45.59 1.93 215.54
Free Cash Flow per Share 3.88 1.23 215.45 (0.89) NM
Financial Analysis
Free Cash Flow($000) 111,845 34,416 224.98 (25,994) NM
Debt/ Book Capitalization(%) 43.58 48.71 (513) bp 44.55 (97) bp
Net Debt/ Net Cap(%) 36.08 44.86 (878) bp 39.16 (308) bp
ROAA(%) 9.63 5.82 381 bp 5.90 373 bp
ROAE(%) 20.45 13.63 682 bp 12.44 801 bp
Return on Capital(%) 11.44 6.83 461 bp 6.94 450 bp
Recurring EBITDA/ Interest Expense(x) 8.34 4.54 380 bp 5.45 289 bp
Gross Margin(%) 19.76 17.34 242 bp 18.30 146 bp
Construction Margin(%) 9.03 6.35 268 bp 7.03 200 bp
Financial Services Margin(%) 56.89 46.87 1,002 bp 41.81 1,508 bp
Total Operating Margin(%) 10.31 7.31 300 bp 7.85 246 bp
Changes and Trends (%)
Homebuilding Sales Growth 14.07 11.56 251 bp 20.20 (613) bp
Homebuilding, Total Sales Gross Profit Growth 28.38 6.59 2,179 bp 26.65 173 bp
Construction Revenue Growth 14.07 11.56 251 bp 20.20 (613) bp
Financial Services Revenue Growth 33.17 20.44 1,273 bp 14.29 1,888 bp
Inventory Growth 1.82 7.56 (574) bp 11.99 (1,017) bp
Equity Growth 21.87 15.05 682 bp 13.63 824 bp
Asset Growth 23.42 3.36 2,006 bp 17.74 568 bp
Miscellaneous
Number of Homes Sold(actual) 1,835 1,538 19.31 1,495 90.97
Avg Sale Price per Unit($000) 379 389 (2.57) 374 5.35
Number of Loans Originated(actual) 1,375 1,037 32.59 1,131 86.30
Loan Originations($000) 428,020 319,789 33.84 345,950 94.89

   Q-Q Ch(%)= most recent quarter minus prior quarter annualized e.g. [(Q4-Q3)/Q3]*4

  * Percentages presented for individual quarters are annualized by taking the quarter amount and multiplying by four.


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