Financial Highlights

Financial Highlights
2018 FQ3
9/30/2018
2017 FQ3
9/30/2017
Y-Y Ch (%)
2018 FQ2
6/30/2018
Q-Q Ch (%)†
Balance Sheet ($000)
Current Inventories 1,751,525 1,455,809 20.31 1,652,468 23.98
Net PP&E 28,691 25,320 13.31 28,885 (2.69)
Loans & Investments 115,189 91,987 25.22 108,000 26.63
Total Assets 2,058,335 1,784,695 15.33 1,970,540 17.82
Total Debt 895,714 779,468 14.91 839,757 26.65
Total Liabilities 1,223,131 1,061,722 15.20 1,154,574 23.75
Equity Attributable to Parent Company 835,204 722,973 15.52 815,966 9.43
Total Equity 835,204 722,973 15.52 815,966 9.43
Total Capitalization, at Book Value 1,730,918 1,502,441 15.21 1,655,723 18.17
Income Statement ($000)
Homebuilding Sales 555,649 464,660 19.58 546,222 6.90
Homebuilding Sales Expense 445,059 369,685 20.39 440,172 4.44
Revenue 567,886 476,494 19.18 558,012 7.08
Expenses 528,406 441,821 19.60 524,481 2.99
Provision for Taxes 10,198 12,346 (17.40) 5,620 325.84
Net Income 29,282 22,327 31.15 27,911 19.65
Net Income Attributable to Parent 29,282 22,327 31.15 27,911 19.65
Per Share Information ($)
Basic Book Value per Share 29.69 26.27 13.02 28.56 15.83
Diluted EPS after Extraordinary 1.01 0.64 57.81 0.96 20.83
Recurring EBITDA per share 1.86 1.49 24.83 1.73 30.06
Free Cash Flow per Share (1.70) (1.12) 51.79 0.10 NM
Financial Analysis
Free Cash Flow($000) (49,360) (33,259) 48.41 2,799 NM
Debt/ Book Capitalization(%) 51.75 51.88 (13) bp 50.72 103 bp
Net Debt/ Net Cap(%) 47.52 44.74 278 bp 45.46 206 bp
ROAA(%) 5.81 5.23 58 bp 5.78 3 bp
ROAE(%) 14.19 12.61 158 bp 13.94 25 bp
Return on Capital(%) 6.92 6.22 70 bp 6.82 10 bp
Recurring EBITDA/ Interest Expense(x) 5.03 4.87 16 bp 4.54 49 bp
Gross Margin(%) 18.77 19.37 (60) bp 18.28 49 bp
Construction Margin(%) 7.03 7.23 (20) bp 6.53 50 bp
Financial Services Margin(%) 38.06 42.79 (473) bp 42.82 (476) bp
Total Operating Margin(%) 7.71 8.12 (41) bp 7.29 42 bp
Changes and Trends (%)
Homebuilding Sales Growth 19.58 7.58 1,200 bp 22.75 (317) bp
Homebuilding, Total Sales Gross Profit Growth 16.44 29.69 (1,325) bp 28.95 (1,251) bp
Construction Revenue Growth 19.58 7.58 1,200 bp 22.75 (317) bp
Financial Services Revenue Growth 3.66 11.37 (771) bp 0.07 359 bp
Inventory Growth 23.98 22.11 187 bp 18.26 572 bp
Equity Growth 9.43 17.11 (768) bp 15.06 (563) bp
Asset Growth 17.82 37.59 (1,977) bp 16.08 174 bp
Miscellaneous
Number of Homes Sold(actual) 1,422 1,256 13.22 1,409 3.69
Avg Sale Price per Unit($000) 390 366 6.56 387 3.10
Number of Loans Originated(actual) 1,011 902 12.08 930 34.84
Loan Originations($000) 308,598 263,755 17 284,320 34.16

   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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