Cavco Industries
Market Cap
US$1.8b
Last Updated
2021/01/21 23:29 UTC
Data Sources
Company Financials +
Executive Summary
Cavco Industries, Inc. designs, produces, and retails manufactured homes primarily in the United States. More Details
Rewards
Risk Analysis
No risks detected for CVCO from our risk checks.
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 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.
Market Performance
7 Day Return
4.2%
CVCO
8.0%
US Consumer Durables
1.4%
US Market
1 Year Return
-13.5%
CVCO
24.1%
US Consumer Durables
22.6%
US Market
Return vs Industry: CVCO underperformed the US Consumer Durables industry which returned 24.7% over the past year.
Return vs Market: CVCO underperformed the US Market which returned 22.8% over the past year.
Shareholder returns
| CVCO | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.2% | 8.0% | 1.4% |
| 30 Day | 7.0% | 7.3% | 4.9% |
| 90 Day | 8.8% | 12.6% | 14.6% |
| 1 Year | -13.5%-13.5% | 25.6%24.1% | 25.4%22.6% |
| 3 Year | 21.4%21.4% | 25.8%21.4% | 46.8%37.0% |
| 5 Year | 145.4%145.4% | 101.3%88.0% | 132.0%106.1% |
Long-Term 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
1 day ago | Simply Wall St
Should We Be Excited About The Trends Of Returns At Cavco Industries (NASDAQ:CVCO)?2 weeks ago | Simply Wall St
Are Cavco Industries's (NASDAQ:CVCO) Statutory Earnings A Good Reflection Of Its Earnings Potential?1 month ago | Simply Wall St
Is Now An Opportune Moment To Examine Cavco Industries, Inc. (NASDAQ:CVCO)?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 ($194.48) is trading below our estimate of fair value ($461.18)
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 (27.6x) compared to the US Consumer Durables industry average (16.2x).
PE vs Market: CVCO is poor value based on its PE Ratio (27.6x) compared to the US market (21.1x).
Price to Earnings Growth Ratio
PEG Ratio: CVCO is poor value based on its PEG Ratio (1.7x)
Price to Book Ratio
PB vs Industry: CVCO is overvalued based on its PB Ratio (2.8x) compared to the US Consumer Durables industry average (1.9x).
Next Steps
Future Growth
How is Cavco Industries forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
16.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CVCO's forecast earnings growth (16.5% per year) is above the savings rate (2%).
Earnings vs Market: CVCO's earnings (16.5% per year) are forecast to grow slower than the US market (21.6% per year).
High Growth Earnings: CVCO's earnings are forecast to grow, but not significantly.
Revenue vs Market: CVCO's revenue (8.1% per year) is forecast to grow slower than the US market (10.5% per year).
High Growth Revenue: CVCO's revenue (8.1% 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?
21.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CVCO has high quality earnings.
Growing Profit Margin: CVCO's current net profit margins (6.2%) are lower than last year (7.5%).
Past Earnings Growth Analysis
Earnings Trend: CVCO's earnings have grown significantly by 21.9% per year over the past 5 years.
Accelerating Growth: CVCO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CVCO had negative earnings growth (-14.4%) over the past year, making it difficult to compare to the Consumer Durables industry average (21%).
Return on Equity
High ROE: CVCO's Return on Equity (10.1%) 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 ($597.4M) exceed its short term liabilities ($208.2M).
Long Term Liabilities: CVCO's short term assets ($597.4M) exceed its long term liabilities ($33.6M).
Debt to Equity History and Analysis
Debt Level: CVCO's debt to equity ratio (2.1%) is considered satisfactory.
Reducing Debt: CVCO's debt to equity ratio has reduced from 18.9% to 2.1% over the past 5 years.
Debt Coverage: CVCO's debt is well covered by operating cash flow (967.7%).
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?
1.9yrs
Average management tenure
CEO
Bill Boor (54 yo)
1.75yrs
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 ($USD3.86M).
Compensation vs Earnings: Bill's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.75yrs | US$4.44m | 0.037% $ 660.6k | |
| Executive VP | 1.92yrs | US$910.57k | 0% $ 0 | |
| President of Fleetwood Homes Inc | 11.42yrs | US$856.07k | 0.0049% $ 87.6k | |
| Chief Accounting Officer | 0.42yr | no data | no data | |
| Director of Financial Reporting & Investor Relations | no data | no data | no data | |
| Senior VP & Chief Human Resources Officer | 1.17yrs | no data | no data | |
| Senior Vice President | 11.92yrs | US$373.49k | 0.031% $ 547.3k | |
| President of Retail | 0.83yr | no data | no data | |
| President of Standard Casualty Company | 8yrs | no data | 0.00045% $ 8.0k | |
| President of CountryPlace Acceptance Corp | 10yrs | no data | no data |
1.9yrs
Average Tenure
57yo
Average Age
Experienced Management: CVCO's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.75yrs | US$4.44m | 0.037% $ 660.6k | |
| Independent Non-Executive Chairman of the Board | 1.75yrs | US$266.65k | 0.013% $ 233.4k | |
| Independent Director | 12.25yrs | US$212.76k | 0.14% $ 2.4m | |
| Independent Director | 2yrs | US$202.76k | 0.0076% $ 136.2k | |
| Independent Director | 1yr | US$75.93k | 0.0027% $ 48.6k | |
| Independent Director | 1.92yrs | US$222.76k | 0.0076% $ 136.2k | |
| Independent Director | 1.67yrs | US$200.94k | 0.0092% $ 165.3k |
1.9yrs
Average Tenure
59yo
Average Age
Experienced Board: CVCO's board of directors are not considered experienced ( 1.9 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.
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$1.787b
- Shares outstanding: 9.19m
- Website: https://www.cavco.com
Number of Employees
Location
- Cavco Industries, Inc.
- 3636 North Central Avenue
- Suite 1200
- Phoenix
- Arizona
- 85012
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CVCO | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jun 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/21 23:29 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/26 |
| Annual Earnings | 2020/03/28 |
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.