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CVCO

Cavco Industries NasdaqGS:CVCO Stock Report

Last Price

US$241.59

Market Cap

US$2.1b

7D

4.8%

1Y

15.2%

Updated

17 May, 2022

Data

Company Financials +
CVCO fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance6/6
Financial Health6/6
Dividends0/6

CVCO Stock Overview

Cavco Industries, Inc. designs, produces, and retails manufactured homes primarily in the United States.

Cavco Industries Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Cavco Industries
Historical stock prices
Current Share PriceUS$241.59
52 Week HighUS$327.24
52 Week LowUS$205.00
Beta0.98
1 Month Change2.40%
3 Month Change-17.78%
1 Year Change15.21%
3 Year Change85.84%
5 Year Change109.44%
Change since IPO3,121.20%

Recent News & Updates

Mar 29
Is Cavco Industries (NASDAQ:CVCO) A Risky Investment?

Is Cavco Industries (NASDAQ:CVCO) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Mar 21

Cavco Industries Is In The Early Innings Of Growth

Cavco is a leading producer in an undersupplied vertical. This positions it well to capture strong margin and increasing profits. Yet CVCO trades at a low multiple which to me makes it opportunistic.

Shareholder Returns

CVCOUS Consumer DurablesUS Market
7D4.8%3.4%2.7%
1Y15.2%-24.3%-8.1%

Return vs Industry: CVCO exceeded the US Consumer Durables industry which returned -27.9% over the past year.

Return vs Market: CVCO exceeded the US Market which returned -10.8% over the past year.

Price Volatility

Is CVCO's price volatile compared to industry and market?
CVCO volatility
CVCO Average Weekly Movement7.2%
Consumer Durables Industry Average Movement7.7%
Market Average Movement7.8%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market2.9%

Stable Share Price: CVCO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: CVCO's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19654,700Bill Boorhttps://www.cavco.com

Cavco Industries, Inc. designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle, and Destiny brands.

Cavco Industries Fundamentals Summary

How do Cavco Industries's earnings and revenue compare to its market cap?
CVCO fundamental statistics
Market CapUS$2.14b
Earnings (TTM)US$169.30m
Revenue (TTM)US$1.43b

13.1x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CVCO income statement (TTM)
RevenueUS$1.43b
Cost of RevenueUS$1.07b
Gross ProfitUS$328.83m
Other ExpensesUS$159.53m
EarningsUS$169.30m

Last Reported Earnings

Jan 01, 2022

Next Earnings Date

n/a

Earnings per share (EPS)18.48
Gross Margin23.02%
Net Profit Margin11.85%
Debt/Equity Ratio0.7%

How did CVCO perform over the long term?

See historical performance and comparison

Valuation

Is Cavco Industries undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


40.5%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: CVCO ($241.59) is trading below our estimate of fair value ($405.86)

Significantly Below Fair Value: CVCO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CVCO is poor value based on its PE Ratio (13.1x) compared to the US Consumer Durables industry average (8.5x).

PE vs Market: CVCO is good value based on its PE Ratio (13.1x) compared to the US market (15.5x).


Price to Earnings Growth Ratio

PEG Ratio: CVCO is poor value based on its PEG Ratio (3.5x)


Price to Book Ratio

PB vs Industry: CVCO is overvalued based on its PB Ratio (2.7x) compared to the US Consumer Durables industry average (1.3x).


Future Growth

How is Cavco Industries forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CVCO's forecast earnings growth (3.8% per year) is above the savings rate (1.9%).

Earnings vs Market: CVCO's earnings (3.8% per year) are forecast to grow slower than the US market (12.5% per year).

High Growth Earnings: CVCO's earnings are forecast to grow, but not significantly.

Revenue vs Market: CVCO's revenue (14% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: CVCO's revenue (14% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CVCO's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Cavco Industries performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


19.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CVCO has high quality earnings.

Growing Profit Margin: CVCO's current net profit margins (11.9%) are higher than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: CVCO's earnings have grown by 19.7% per year over the past 5 years.

Accelerating Growth: CVCO's earnings growth over the past year (163.6%) exceeds its 5-year average (19.7% per year).

Earnings vs Industry: CVCO earnings growth over the past year (163.6%) exceeded the Consumer Durables industry 45.1%.


Return on Equity

High ROE: CVCO's Return on Equity (21%) is considered high.


Financial Health

How is Cavco Industries's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: CVCO's short term assets ($703.5M) exceed its short term liabilities ($272.8M).

Long Term Liabilities: CVCO's short term assets ($703.5M) exceed its long term liabilities ($32.1M).


Debt to Equity History and Analysis

Debt Level: CVCO has more cash than its total debt.

Reducing Debt: CVCO's debt to equity ratio has reduced from 14.6% to 0.7% over the past 5 years.

Debt Coverage: CVCO's debt is well covered by operating cash flow (2701.2%).

Interest Coverage: CVCO's interest payments on its debt are well covered by EBIT (29.7x coverage).


Balance Sheet


Dividend

What is Cavco Industries's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate CVCO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CVCO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CVCO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CVCO's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CVCO has not reported any payouts.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Bill Boor (55 yo)

3.08yrs

Tenure

US$3,606,222

Compensation

Mr. William C. Boor, also known as Bill, has been the Chief Executive Officer of Great Lakes Brewing Company since September 2015. From December 2014 to September 2015, Mr. Boor was Principal of MIB Holdin...


CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD3.61M) is below average for companies of similar size in the US market ($USD5.45M).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CVCO's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: CVCO's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Cavco Industries, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Cavco Industries, Inc.
  • Ticker: CVCO
  • Exchange: NasdaqGS
  • Founded: 1965
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Implied Market Cap: US$2.140b
  • Shares outstanding: 9.16m
  • Website: https://www.cavco.com

Number of Employees


Location

  • Cavco Industries, Inc.
  • 3636 North Central Avenue
  • Suite 1200
  • Phoenix
  • Arizona
  • 85012
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/17 00:00
End of Day Share Price2022/05/17 00:00
Earnings2022/01/01
Annual Earnings2021/04/03


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.