NasdaqGS:CVCO

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Executive Summary

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


Snowflake Analysis

Flawless balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Cavco Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CVCO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-5.9%

CVCO

-1.1%

US Consumer Durables

-3.1%

US Market


1 Year Return

-12.9%

CVCO

19.3%

US Consumer Durables

12.7%

US Market

Return vs Industry: CVCO underperformed the US Consumer Durables industry which returned 21.1% over the past year.

Return vs Market: CVCO underperformed the US Market which returned 12.9% over the past year.


Shareholder returns

CVCOIndustryMarket
7 Day-5.9%-1.1%-3.1%
30 Day-18.3%-3.1%-2.9%
90 Day-8.7%24.8%8.2%
1 Year-12.9%-12.9%20.8%19.3%15.3%12.7%
3 Year18.1%18.1%20.7%15.6%37.8%28.5%
5 Year144.3%144.3%51.9%42.6%90.9%69.4%

Price Volatility Vs. Market

How volatile is Cavco Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CVCO ($166.22) is trading below our estimate of fair value ($395.57)

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 (21.6x) compared to the US Consumer Durables industry average (13.3x).

PE vs Market: CVCO is poor value based on its PE Ratio (21.6x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: CVCO is poor value based on its PEG Ratio (2.8x)


Price to Book Ratio

PB vs Industry: CVCO is overvalued based on its PB Ratio (2.4x) compared to the US Consumer Durables industry average (1.6x).


Next Steps

Future Growth

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

7.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CVCO's forecast earnings growth (7.7% per year) is above the savings rate (2.2%).

Earnings vs Market: CVCO's earnings (7.7% per year) are forecast to grow slower than the US market (23.1% per year).

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

Revenue vs Market: CVCO's revenue (4.3% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: CVCO's revenue (4.3% 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


Next Steps

Past Performance

How has Cavco Industries performed over the past 5 years?

24.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CVCO has high quality earnings.

Growing Profit Margin: CVCO's current net profit margins (6.7%) are lower than last year (7.2%).


Past Earnings Growth Analysis

Earnings Trend: CVCO's earnings have grown significantly by 24.6% per year over the past 5 years.

Accelerating Growth: CVCO's earnings growth over the past year (0.4%) is below its 5-year average (24.6% per year).

Earnings vs Industry: CVCO earnings growth over the past year (0.4%) underperformed the Consumer Durables industry 15.3%.


Return on Equity

High ROE: CVCO's Return on Equity (11.3%) is considered low.


Next Steps

Financial Health

How is Cavco Industries's financial position?


Financial Position Analysis

Short Term Liabilities: CVCO's short term assets ($548.0M) exceed its short term liabilities ($179.1M).

Long Term Liabilities: CVCO's short term assets ($548.0M) exceed its long term liabilities ($35.2M).


Debt to Equity History and Analysis

Debt Level: CVCO's debt to equity ratio (2.3%) is considered satisfactory.

Reducing Debt: CVCO's debt to equity ratio has reduced from 20.1% to 2.3% over the past 5 years.

Debt Coverage: CVCO's debt is well covered by operating cash flow (851.7%).

Interest Coverage: CVCO earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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


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.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CVCO's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

1.5yrs

Average management tenure


CEO

Bill Boor (54 yo)

1.42yrs

Tenure

US$4,442,988

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 ($USD4.44M) is about average for companies of similar size in the US market ($USD4.57M).

Compensation vs Earnings: Bill's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
William Boor
President1.42yrsUS$4.44m0.037%
$ 564.6k
Daniel Urness
Executive VP1.42yrsUS$2.05m0.26%
$ 4.0m
Mickey Dragash
Executive VP1.58yrsUS$910.57k0%
$ 0
Charles Lott
President of Fleetwood Homes Inc11.08yrsUS$856.07k0.0049%
$ 74.8k
Paul Bigbee
Chief Accounting Officer0.083yrno datano data
Mark Fusler
Director of Financial Reporting & Investor Relationsno datano datano data
Simone Reynolds
Senior VP & Chief Human Resources Officer0.83yrno datano data
Steven Like
Senior Vice President11.58yrsUS$373.49k0.031%
$ 467.7k
Matthew Nino
President of Retail0.50yrno datano data
Gavin Ryan
President of Standard Casualty Company7.67yrsno data0.00045%
$ 6.9k
Lyle Zeller
President of CountryPlace Acceptance Corp9.67yrsno datano data

1.5yrs

Average Tenure

54yo

Average Age

Experienced Management: CVCO's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
William Boor
President1.42yrsUS$4.44m0.037%
$ 564.6k
Steven Bunger
Independent Non-Executive Chairman of the Board1.42yrsUS$266.65k0.013%
$ 199.4k
David Greenblatt
Independent Director11.92yrsUS$212.76k0.14%
$ 2.1m
Susan Blount
Independent Director1.67yrsUS$202.76k0.0076%
$ 116.4k
Steven Moster
Independent Director0.67yrUS$75.93k0.0027%
$ 41.5k
Richard Kerley
Independent Director1.58yrsUS$222.76k0.0076%
$ 116.4k
Julia Sze
Independent Director1.33yrsUS$200.94k0.0093%
$ 141.3k

1.6yrs

Average Tenure

59yo

Average Age

Experienced Board: CVCO's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


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 company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cavco Industries, Inc.
  • Ticker: CVCO
  • Exchange: NasdaqGS
  • Founded: 1965
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Market Cap: US$1.526b
  • Shares outstanding: 9.18m
  • Website: https://www.cavco.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CVCONasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 2003

Biography

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 m ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/22 05:33
End of Day Share Price2020/09/21 00:00
Earnings2020/06/27
Annual Earnings2020/03/28


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.