CAVCO INDUSTRIES, INC.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.24B | $2.02B | $1.79B | $2.14B | $1.63B | $1.11B | $1.06B | $962.7M |
| Cost of Revenue | $1.72B | $1.55B | $1.37B | $1.59B | $1.22B | $869.1M | $831.3M | $757.0M |
| Gross Profit | $526.9M | $465.6M | $426.9M | $554.9M | $408.7M | $239.0M | $230.5M | $205.7M |
| Gross Margin | 23.5% | 23.1% | 23.8% | 25.9% | 25.1% | 21.6% | 21.7% | 21.4% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $298.3M | $275.3M | $247.9M | $258.3M | $206.3M | $150.2M | $145.6M | $121.6M |
| Operating Income | $228.6M | $190.3M | $179.0M | $296.6M | $202.5M | $88.8M | $84.9M | $84.1M |
| Operating Margin | 10.2% | 9.4% | 10.0% | 13.8% | 12.4% | 8.0% | 8.0% | 8.7% |
| Interest Expense | — | — | $1.6M | $910.0K | $702.0K | $738.0K | $1.5M | $3.4M |
| Pretax Income | $244.7M | $211.1M | $199.2M | $306.8M | $212.0M | $96.9M | $93.0M | $86.7M |
| Income Tax Expense | $54.1M | $40.0M | $41.3M | $65.9M | $14.2M | $20.3M | $17.9M | $18.1M |
| Net Income | $190.6M | $171.0M | $157.8M | $240.6M | $197.7M | $76.6M | $75.1M | $68.6M |
| Net Margin | 8.5% | 8.5% | 8.8% | 11.2% | 12.1% | 6.9% | 7.1% | 7.1% |
| EPS (Basic) | $24.26 | $20.97 | $18.55 | $27.20 | $21.54 | $8.34 | $8.22 | $7.56 |
| EPS (Diluted) | $23.98 | $20.71 | $18.37 | $26.95 | $21.34 | $8.25 | $8.10 | $7.40 |
| Shares Outstanding (Basic) | 7.9M | 8.2M | 8.5M | 8.8M | 9.2M | 9.2M | 9.1M | 9.1M |
| Shares Outstanding (Diluted) | 7.9M | 8.3M | 8.6M | 8.9M | 9.3M | 9.3M | 9.3M | 9.3M |
| Dividends Per Share | — | — | — | — | — | — | — | — |