회사 개요
LGI Homes, Inc. is a prominent player in the United States residential construction sector, specifically focusing on the design, construction, and sale of new residential properties across the country. The company operates within the Consumer Cyclical sector under the Residential Construction industry, a classification that defines its sensitivity to macroeconomic factors such as housing demand, interest rates, and consumer spending power. The firm manages a substantial operational scale, employing a workforce of 1,056 individuals while maintaining a total market capitalization of $941.52 million. Its annual revenue generation stands at $1.71 billion, which, combined with its market cap, indicates a mid-sized enterprise that has established a significant footprint in the entry-level and luxury housing markets through its specific brand portfolios.
재무 건전성
The company reported a total revenue of $1.71 billion over the trailing twelve months, generating a net income of $72.55 million and an EBITDA of $87.56 million. The substantial gap between the $1.71 billion revenue and the $72.55 million net income highlights a cost structure where operating expenses, including labor, materials, and overhead, consume a significant portion of top-line earnings before reaching the bottom line. Free cash flow stands at -$131,216,128, a negative figure that suggests the company is currently investing heavily in its operations or capital expenditures, potentially constraining immediate financial flexibility for discretionary spending or aggressive debt repayment. Profitability efficiency is reflected in three key margins: a gross margin of 20.9%, an operating margin of 4.0%, and a profit margin of 4.3%, indicating that for every dollar of sales, only a small fraction translates to net profit after all costs. Liquidity and leverage are critical metrics, with the company holding $61.25 million in cash against $1.66 billion in total debt, resulting in a high debt-to-equity ratio of 79.28% that characterizes a leveraged balance sheet rather than a conservative one. Short-term liquidity appears robust with a current ratio of 51.00, suggesting the firm possesses ample current assets to cover its short-term liabilities many times over. Return on equity is measured at 3.5% and return on assets at 1.4%, metrics that reveal management's current effectiveness in generating returns on shareholder capital and the total asset base are relatively modest given the leverage levels.
밸류에이션 평가
Valuation multiples for LGI Homes, Inc. show a trailing P/E ratio of 13.04 compared to a forward P/E of 11.83, implying that the market expects earnings growth sufficient to bridge the gap between current and future valuation multiples. The price-to-book ratio is recorded at 0.45, which indicates that the stock is trading significantly below its book value, suggesting the market may be pricing in higher risks or lower future growth expectations relative to the company's tangible asset base. Alternative valuation metrics provide additional context, with a price-to-sales ratio of 0.55 and an EV/EBITDA of 29.04, figures that suggest the company is valued cheaply on a revenue basis but commands a premium multiple when adjusted for enterprise value and earnings before interest, taxes, depreciation, and amortization. Price action over the last year has seen the stock trade between a 52-week high of $69.50 and a 52-week low of $33.55, with the current share price positioned below the recent peak and above the recent trough. The stock exhibits a beta of 1.86, indicating that its price volatility is substantially higher than the broader market, moving nearly twice as much as the index in either direction during periods of market fluctuation.
Growth & Income
Growth metrics reveal a contractionary period, with revenue growth declining by 15.0% year-over-year and earnings growth falling even more sharply by 65.1% year-over-year. The disparity between these two rates shows that earnings are shrinking at a much faster pace than revenue, which often points to rising cost pressures or declining operational efficiency in the current market environment. As the company does not pay a dividend, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, it retains all of its earnings rather than distributing them to shareholders, likely prioritizing debt reduction or operational reinvestment over income generation for investors. The overall growth and income profile for LGI Homes, Inc. is currently characterized by significant earnings contraction without dividend support, reflecting a challenging operational phase within the residential construction cycle.