公司概述
Smith Douglas Homes Corp. operates as a premier homebuilder, entrusted by over 20,000 families to construct new residences and achieving 2,908 closings since its inception. The company is classified within the Real Estate sector, specifically the Real Estate - Development industry, which involves the creation and sale of residential properties to meet housing demand. Headquartered in Woodstock, Georgia, the firm completed its initial public offering in January 2024 and currently employs 510 staff members to execute its development projects. With a market capitalization of $129.71M and annual revenue reaching $971.12M, the company demonstrates a significant operational footprint. These valuation and revenue figures indicate that Smith Douglas Homes has established a substantial presence in the national market, ranking as a top 50 builder, thereby positioning it as a key participant in the residential development landscape despite its relatively recent transition to public markets.
财务健康
The company reported total revenue of $971.12M over the trailing twelve months, generating a net income of $10.69M and an EBITDA of $74.94M. The substantial gap between the $971.12M revenue and the $10.69M net income reveals a cost structure where operating expenses, including cost of goods sold and overhead, consume approximately 98.9% of total revenue before interest and taxes. Free cash flow stands at -$4,218,875, indicating that the company is currently consuming cash to fund its development pipeline and expansion efforts rather than generating excess liquidity. This negative cash flow suggests a capital-intensive business model typical of the construction sector, where upfront expenditures for land and materials precede revenue recognition from home sales. Gross margin is recorded at 21.8%, reflecting the pricing power and construction efficiency relative to the cost of building homes. Operating margin sits at 6.0%, showing the profitability after covering operational costs, while the profit margin of 1.1% highlights the thin net profit characteristic of the homebuilding industry. The firm holds $12.74M in cash against $46.10M in total debt, resulting in a debt-to-equity ratio of 10.38. This high leverage ratio indicates a balance sheet that is significantly leveraged, relying on substantial debt financing to support its asset base. The current ratio of 20.07 suggests an extremely strong short-term liquidity position, as current assets vastly exceed current liabilities. Return on Equity is 16.2% and Return on Assets is 8.8%, metrics that reveal management's effectiveness in generating returns on shareholder capital and utilizing the company's asset base efficiently, respectively.
估值评估
The trailing twelve-month P/E ratio is 12.04, whereas the forward P/E is projected at 21.50. The notable difference between these two figures implies that the market expects earnings to decline or that the current earnings do not fully reflect future performance, creating a divergence between current profitability and anticipated future valuation multiples. The price-to-book ratio stands at 1.49, indicating that the market values the company at a premium of 49% over its net asset book value. The price-to-sales ratio is 0.13, which, when viewed alongside an EV/EBITDA of 6.95, suggests the company is valued on a low multiple of sales but maintains a relatively low enterprise value relative to its operating earnings. The stock has traded between a 52-week high of $23.50 and a 52-week low of $11.13. Without the specific current price provided in the facts to calculate an exact percentage, the trading range demonstrates significant volatility over the past year. The beta value is 1.30, which means the stock price exhibits 30% higher volatility relative to the broader market index.
Growth & Income
Revenue growth year-over-year is -9.4%, while earnings growth is marked as N/A due to the lack of prior period comparative data available in the facts. The absence of a reported earnings growth rate prevents a direct comparison of earnings velocity against revenue contraction, but the revenue decline suggests a challenging current market environment for new home deliveries. The company does not pay a dividend, evidenced by a dividend yield of N/A and a payout ratio of 0.0%. This non-dividend status indicates that the company retains all earnings to reinvest into its development projects, land acquisitions, and operational expansion rather than distributing income to shareholders. Consequently, the growth and income profile is characterized by a focus on capital appreciation and organic expansion through reinvestment, rather than providing a current income stream.