Legacy Housing Corp financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Legacy Housing Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	162	169	177	198	257	189	184	165
Cost of revenue	107	105	110	114	150	99.7	90.1	84.8
Gross profit	54.6	64.1	67	83.5	107	89.5	94.1	79.7
Selling, general and administrative	21	25.5	19.1	23.3	27.6	24.3	22.3	29.6
Operating income	32.8	37.8	47.6	58.9	78	64.6	63.6	48.4
Interest expense	2.51	0.7	1.05	0.89	0.38	0.93	0.69	0.03
Interest income	0.19	0.3	0.92	2.1	2.94	3.02
Other non-operating income	-2.16	-0.25	1.23	1.71	4.13	4.15	12.4	3.16
Pre-tax income	30.6	37.6	48.8	60.6	82.1	68.7	76	51.6
Income tax	9.13	8.75	10.8	10.8	14.4	14.3	14.4	9.76
Net income	21.5	28.8	38	49.9	67.8	54.5	61.6	41.8
EBITDA	33.6	38.9	48.8	60.5	80	66.3	65.5	50.3
EPS, basic	1.07	1.18	1.57	2.06	2.78	2.23	2.55	1.74
EPS, diluted	1.07	1.18	1.57	2.05	2.74	2.17	2.48	1.74
Shares, basic (weighted)	20.2	24.4	24.2	24.2	24.4	24.4	24.2	24
Shares, diluted (weighted)	20.2	24.4	24.2	24.3	24.7	25.1	24.9	24

Balance sheet

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	2.6	1.72	0.77	1.04	2.82	0.75	1.15	8.48
Receivables	2.95	1.77	3.54	5.12	4.87	4.7	4	5.47
Inventory	42	27.2	27.2	42	32.1	41	37.5	39.9
Other current assets	2.94	4.86	3.23	4.46	4.06	4.92	4.5	1.08
Total current assets	63.1	53	54.6	92.5	107	116	124	165
Property, plant and equipment	17.1	21	22.6	27.5	30.1	37.9	47.6	60.5
Lease right-of-use assets					2.66	1.79	1.32	1.31
Goodwill								2.47
Intangible assets								5.2
Other non-current assets	2.59	4.21	9.22	1.1	1.48	2.57	5.49	13.9
Total assets	235	284	339	367	437	507	534	580
Accounts payable	2.83	5.17	10.2	4.16	4.55	4.09	5.09	6.44
Accrued liabilities	9.16	8.81	14.9	20.7	16.9	18.5	13.7	25.1
Deferred revenue	2.22	1.57	3.62	7.75	9.72	4.15	1.88	1.76
Total current liabilities	20.4	51.9	36.4	41.9	41.5	37.3	32.7	46.9
Lease liabilities					2.12	1.4	0.92	0.86
Total liabilities	45.8	61.2	79.4	57.3	54.7	70	40.2	51.7
Paid-in capital	168	175	175	176	181	181	182	183
Retained earnings	21.5	50.4	88.4	138	206	260	321	363
Treasury stock		-3.06	-4.48	-4.48	-4.48	-4.48	-9.88	-17.5
Shareholders' equity	189	222	259	309	382	437	494	529
Total equity	189	222	259	309	382	437	494	529
Total liabilities and equity	235	284	339	367	437	507	534	580
Shares outstanding	24	24.3	24.2	24.2	24.4	24.4	24.2	23.8

Cash flow statement

	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	21.5	28.8	38	49.9	67.8	54.5	61.6	41.8
Depreciation and amortization	0.84	1.01	1.21	1.59	1.94	1.73	1.91	1.86
Stock-based compensation		0.63	0.23	0.23	4.94	0.77	0.78	0.46
Deferred income tax	1.84	-0.08	0.21	1.03	0.06	-0.52	-0.13	1.76
Change in receivables	0.84	0.83	-1.48	-5.33	0.31	-0.16	0.74	-8.01
Change in inventory	-2.49	10.3	2.66	-7.84	5.7	-1.96	3.18	-1.04
Change in payables	-3.45	2.34	5.03	-6.04	-3.4	-0.01	-3.49	11.3
Cash from operations	2.82	-4.19	-1.84	60.3	-1.69	-13.5	36	37.2
Capital expenditures	-6.14	-4.21	-2.85	-5.95	-3.8	-7.71	-9.21	-9
Acquisitions								-19
Cash from investing	-4.45	-15.1	-2.72	-31.9	9.08	-9.77	-6.71	-22.1
Stock issued				0.1		0.1	0.2
Share buybacks		-3.06	-1.42				-5.4	-7.61
Cash from financing	3.8	18.4	3.6	-28.1	-5.61	21.2	-28.9	-7.75
Net change in cash	2.17	-0.88	-0.96	0.27	1.78	-2.07	0.4	7.33
Free cash flow	-3.32	-8.4	-4.68	54.3	-5.49	-21.2	26.8	28.2
Interest paid	2.75	0.72	0.99	0.87	0.25	0.48	1	0
Income taxes paid	5.15	9.31	6.73	8.2	10.3	18.9	15	6.45

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $29.30 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	49.8%	Gross profit / revenue.
Operating margin	32.8%	Operating income / revenue.
EBITDA margin	33.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	33.7%	Pre-tax income / revenue.
Net margin	28.6%	Net income / revenue.
FCF margin	21.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	28.2%	Cash from operations / revenue.
Effective tax rate	15.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	8.3%	Net income / average total assets.
Return on invested capital (ROIC)	9.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	16.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	-0.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.7%	Capital expenditures / revenue.
D&A / revenue	1.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-10.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-13.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-1.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-15.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-9.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-23.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-14.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	0.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-23.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-14.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	0.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-32.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-14.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	1.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-29.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-14.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	2.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	3.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	5.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	7.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	15.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	8.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.56x	Current assets / current liabilities.
Quick ratio	0.71x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.57x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	8.7%	Total liabilities / total assets.
Interest coverage	1,549x	Operating income / interest expense.
Working capital	$130.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	1.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$555.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.29x	Revenue / average total assets.
Fixed asset turnover	2.74x	Revenue / average property, plant and equipment.
Inventory turnover	2.05x	Cost of revenue / average inventory.
Days inventory	178 days	365 x average inventory / cost of revenue.
Receivables turnover	25.6x	Revenue / average receivables.
Days sales outstanding	14 days	365 x average receivables / revenue.
Days payables	24 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	168 days	Days inventory + days sales outstanding - days payables.
FCF conversion	75.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	23.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.15	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$7.54	Revenue / diluted weighted shares.
FCF per share	$1.62	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.12	Cash from operations / diluted weighted shares.
Book value per share	$23.64	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$23.34	Tangible book value / shares outstanding.
Cash per share	$1.22	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	4.6%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$696.8M	Share price x shares outstanding.
Enterprise value	$667.8M	Market cap + total debt - cash - short-term investments.
P/E	13.6x	Market cap / net income. Only when net income is positive.
P/S	3.88x	Market cap / revenue.
P/B	1.24x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.26x	Market cap / tangible book value, when positive.
P/FCF	18.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.8x	Market cap / cash from operations, when positive.
EV/Sales	3.72x	Enterprise value / revenue.
EV/EBIT	11.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	17.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.5%	Free cash flow / market cap.
Earnings yield	7.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.3%	(Dividends paid + share buybacks) / market cap.

What was Legacy Housing Corp's revenue in fiscal 2025?

Legacy Housing Corp reported revenue of $164.6M for fiscal 2025, 10.7% lower than the year before.

Was Legacy Housing Corp profitable in fiscal 2025?

Yes. Net income was $41.8M, a net margin of 25.4%.

How much free cash flow did Legacy Housing Corp generate in fiscal 2025?

Cash from operations of $37.2M minus capital expenditures of $9.0M left free cash flow of $28.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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