Recent News
January 15, 2026 coverage cited affordability pressure weighing on demand for entry-level buyers. March 6, 2026 reports noted a 52-week low around $16.55. March 13, 2026 filings disclosed an investor investigation initiated by a law firm into company officers and directors. March 14, 2026 announcement revealed a multi-year partnership naming the company an official home builder for regional sports franchises.
Technical Analysis
ADX at 36.49 signals a strong directional regime; DI+ registered a peak-and-reversal while DI− performed a dip-and-reversal, together emphasizing seller-dominant directional pressure and increasing near-term downside risk relative to the valuation thesis.
MACD currently at −0.72 has turned up and crossed above its signal line (signal −0.85), producing a bullish momentum shift that suggests the recent down-leg may lose force if followed by rising volume.
MRO at −12.72 sits negative, which indicates price below the WMDST target and therefore potential upward pressure; the MRO trend shows improvement, reducing the immediate downside skew and supporting the MACD signal for a rebound attempt.
RSI at 38.37 with a peak-and-reversal shows recent momentum roll-off; price $13.47 sits below the 20-day ($13.93), 50-day ($16.61), and 200-day ($21.58) averages, indicating several layers of resistance on any rally. Price sits at the lower Bollinger band region (lower1x $13.52 / lower2x $13.11), with the SuperTrend upper band at $15.37 serving as a near-term technical ceiling.
Two volatility signals matter for swing timing: elevated betas (42-day 1.38 / 52-week 1.42) imply above-market intraperiod moves, while current volume (502,463) trails the 10-day average (569,421), suggesting any momentum shift requires volume pickup to carry through resistance near the 20-day average and the $15.4 target mean.
Fundamental Analysis
Total revenue reached $1,212,668,000 with net income $58,717,000 and gross profit $199,934,000. EBIT stood at $75,623,000, producing an EBIT margin of 6.24%; that margin improved roughly 2.03 percentage points quarter-over-quarter but contracted about 41.29% year-over-year. The EBIT margin sits below the industry peer mean (12.97%) and industry peer median (14.22%), indicating a gap versus typical peer profitability levels.
EPS came in at $0.58 versus an estimate of $0.64, producing an EPS surprise of −9.38%. Trailing PE equals 34.13, below the industry peer mean (62.95) but above many simple-value thresholds; forward PE stands near 41.65. Price-to-book at 1.28 sits below the industry peer mean (2.45). Price-to-sales at 1.51 sits close to the industry peer low (1.48) and well below the industry peer mean (6.17), while free cash flow yield at 7.45% exceeds the industry peer mean (2.996%), supporting the WMDST valuation signal.
Balance-sheet and working-capital metrics create material operational friction: cash $234,766,000 against total debt $1,606,193,000 yields net debt $1,371,427,000 and debt-to-equity about 112.75%. Debt-to-EBITDA near 19.27 indicates high leverage relative to operating cash generation. Cash-conversion-cycle about 224.46 days sits well above the industry peer mean (135.73 days), pointing to extended capital tied in inventory and receivables. Receivables turnover remains strong at 26.31, but inventory turnover at 0.49 remains sluggish given the homebuilding model.
Return metrics show modest capital efficiency: ROE 4.12% and ROA 1.55%, both below the industry peer mean where provided. Free-cash-flow of $136,032,000 and an operating-cash-flow ratio around 10.5% provide some buffer for capital allocation, while dividend yield remains negligible (0.185%). The current valuation as determined by WMDST registers as under-valued, with a consensus price target mean at $15.42 above the recent close, although leverage and working-capital intensity constrain a durable rerating without margin recovery or balance-sheet relief.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-23 |
| NEXT REPORT DATE: | 2026-05-25 |
| CASH FLOW | Begin Period Cash Flow | $ 290.2 M |
| Operating Cash Flow | $ 143.6 M | |
| Capital Expenditures | $ -7.57 M | |
| Change In Working Capital | $ 45.0 M | |
| Dividends Paid | $ -3.38 M | |
| Cash Flow Delta | $ -5.79 M | |
| End Period Cash Flow | $ 284.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.2 B | |
| Forward Revenue | $ 216.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.0 B | |
| Depreciation | $ 7.7 M | |
| Depreciation and Amortization | $ 7.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ 199.9 M | |
| EBITDA | $ 83.3 M | |
| EBIT | $ 75.6 M | |
| Operating Income | $ 75.6 M | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | $ 78.1 M | |
| Tax Provision | $ 19.3 M | |
| Tax Rate | 24.735 % | |
| Net Income | $ 58.7 M | |
| Net Income From Continuing Operations | $ 58.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.64 | |
| EPS Actual | $ 0.58 | |
| EPS Difference | $ -0.06 | |
| EPS Surprise | -9.375 % | |
| Forward EPS | $ 0.45 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.7 B | |
| Intangible Assets | $ 377.4 M | |
| Net Tangible Assets | $ 1.2 B | |
| Total Current Assets | $ 2.6 B | |
| Cash and Short-Term Investments | $ 234.8 M | |
| Cash | $ 234.8 M | |
| Net Receivables | $ 39.1 M | |
| Inventory | $ 2.0 B | |
| Long-Term Investments | $ 224.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 126.1 M | |
| Short-Term Debt | $ 1.0 B | |
| Total Current Liabilities | $ 1.5 B | |
| Net Debt | $ 1.4 B | |
| Total Debt | $ 1.6 B | |
| Total Liabilities | $ 2.1 B | |
| EQUITY | ||
| Total Equity | $ 1.4 B | |
| Retained Earnings | $ 1.2 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 15.44 | |
| Shares Outstanding | 92.270 M | |
| Revenue Per-Share | $ 13.14 | |
| VALUATION | Market Capitalization | $ 1.8 B |
| Enterprise Value | $ 3.2 B | |
| Enterprise Multiple | 38.373 | |
| Enterprise Multiple QoQ | -34.754 % | |
| Enterprise Multiple YoY | 115.698 % | |
| Enterprise Multiple IPRWA | high: 70.969 mean: 47.535 median: 41.797 DFH: 38.373 low: 24.535 |
|
| EV/R | 2.637 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.617 | |
| Asset To Liability | 1.755 | |
| Debt To Capital | 0.53 | |
| Debt To Assets | 0.431 | |
| Debt To Assets QoQ | -6.426 % | |
| Debt To Assets YoY | 44.737 % | |
| Debt To Assets IPRWA | high: 0.48 DFH: 0.431 mean: 0.184 median: 0.162 low: 0.004 |
|
| Debt To Equity | 1.127 | |
| Debt To Equity QoQ | -12.327 % | |
| Debt To Equity YoY | 41.637 % | |
| Debt To Equity IPRWA | high: 1.397 DFH: 1.127 mean: 0.323 median: 0.234 low: 0.005 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.282 | |
| Price To Book QoQ | -25.215 % | |
| Price To Book YoY | -31.228 % | |
| Price To Book IPRWA | high: 5.446 mean: 2.451 median: 1.842 DFH: 1.282 low: 0.571 |
|
| Price To Earnings (P/E) | 34.134 | |
| Price To Earnings QoQ | -36.806 % | |
| Price To Earnings YoY | 77.245 % | |
| Price To Earnings IPRWA | high: 108.946 mean: 62.95 median: 61.858 DFH: 34.134 low: 29.291 |
|
| PE/G Ratio | 1.458 | |
| Price To Sales (P/S) | 1.506 | |
| Price To Sales QoQ | -37.96 % | |
| Price To Sales YoY | 1.285 % | |
| Price To Sales IPRWA | high: 13.231 median: 6.418 mean: 6.171 DFH: 1.506 low: 1.481 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 41.654 | |
| Forward PE/G | 1.78 | |
| Forward P/S | 7.812 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.101 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.321 | |
| Asset Turnover Ratio QoQ | 23.765 % | |
| Asset Turnover Ratio YoY | -31.645 % | |
| Asset Turnover Ratio IPRWA | high: 0.457 DFH: 0.321 mean: 0.274 median: 0.237 low: 0.067 |
|
| Receivables Turnover | 26.314 | |
| Receivables Turnover Ratio QoQ | 31.472 % | |
| Receivables Turnover Ratio YoY | -45.772 % | |
| Receivables Turnover Ratio IPRWA | DFH: 26.314 high: 19.321 mean: 6.95 median: 5.243 low: 1.652 |
|
| Inventory Turnover | 0.486 | |
| Inventory Turnover Ratio QoQ | 25.373 % | |
| Inventory Turnover Ratio YoY | -28.286 % | |
| Inventory Turnover Ratio IPRWA | high: 2.488 mean: 0.618 DFH: 0.486 median: 0.264 low: 0.109 |
|
| Days Sales Outstanding (DSO) | 3.468 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 224.459 | |
| Cash Conversion Cycle Days QoQ | 21.059 % | |
| Cash Conversion Cycle Days YoY | 13.988 % | |
| Cash Conversion Cycle Days IPRWA | high: 1046.991 DFH: 224.459 mean: 135.731 median: 71.791 low: 40.844 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.187 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -0.981 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.2 B | |
| Net Invested Capital | $ 3.0 B | |
| Invested Capital | $ 3.0 B | |
| Net Tangible Assets | $ 1.2 B | |
| Net Working Capital | $ 1.0 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.153 | |
| Current Ratio | 1.667 | |
| Current Ratio QoQ | 7.342 % | |
| Current Ratio YoY | 6.387 % | |
| Current Ratio IPRWA | high: 12.643 median: 12.637 mean: 8.938 low: 1.674 DFH: 1.667 |
|
| Quick Ratio | 0.345 | |
| Quick Ratio QoQ | 26.395 % | |
| Quick Ratio YoY | -22.227 % | |
| Quick Ratio IPRWA | high: 3.634 median: 2.922 mean: 2.618 low: 0.594 DFH: 0.345 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 19.272 | |
| Cost Of Debt | 0.0 % | |
| Interest Coverage Ratio | 7562.3 | |
| Interest Coverage Ratio QoQ | 27.571 % | |
| Interest Coverage Ratio YoY | -54.379 % | |
| Interest Coverage Ratio IPRWA | DFH: 7562.3 high: 440.679 mean: 47.323 median: 18.756 low: -1.466 |
|
| Operating Cash Flow Ratio | 0.105 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 16.601 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 17.398 | |
| Dividend Payout Ratio | 0.057 | |
| Dividend Rate | $ 0.04 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.81 % | |
| Revenue Growth | 25.043 % | |
| Revenue Growth QoQ | -259.449 % | |
| Revenue Growth YoY | -54.476 % | |
| Revenue Growth IPRWA | high: 25.839 % DFH: 25.043 % median: 3.937 % mean: -6.253 % low: -38.266 % |
|
| Earnings Growth | 23.404 % | |
| Earnings Growth QoQ | -245.629 % | |
| Earnings Growth YoY | -72.233 % | |
| Earnings Growth IPRWA | DFH: 23.404 % high: 22.788 % mean: -10.963 % median: -13.514 % low: -33.224 % |
|
| MARGINS | ||
| Gross Margin | 16.487 % | |
| Gross Margin QoQ | -5.269 % | |
| Gross Margin YoY | -8.937 % | |
| Gross Margin IPRWA | high: 34.983 % mean: 24.292 % median: 23.156 % DFH: 16.487 % low: 14.104 % |
|
| EBIT Margin | 6.236 % | |
| EBIT Margin QoQ | 2.029 % | |
| EBIT Margin YoY | -41.286 % | |
| EBIT Margin IPRWA | high: 28.259 % median: 14.215 % mean: 12.966 % DFH: 6.236 % low: -6.949 % |
|
| Return On Sales (ROS) | 6.236 % | |
| Return On Sales QoQ | 2.029 % | |
| Return On Sales YoY | -41.286 % | |
| Return On Sales IPRWA | high: 26.894 % median: 14.555 % mean: 13.058 % DFH: 6.236 % low: -10.727 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 136.0 M | |
| Free Cash Flow Yield | 7.447 % | |
| Free Cash Flow Yield QoQ | -229.198 % | |
| Free Cash Flow Yield YoY | -42.865 % | |
| Free Cash Flow Yield IPRWA | high: 11.09 % DFH: 7.447 % mean: 2.996 % median: 2.072 % low: 0.073 % |
|
| Free Cash Growth | -200.223 % | |
| Free Cash Growth QoQ | -377.095 % | |
| Free Cash Growth YoY | -15.146 % | |
| Free Cash Growth IPRWA | high: 207.512 % median: 0.639 % mean: -38.928 % DFH: -200.223 % low: -1074.794 % |
|
| Free Cash To Net Income | 2.317 | |
| Cash Flow Margin | 13.288 % | |
| Cash Flow To Earnings | 2.744 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 1.553 % | |
| Return On Assets QoQ | 23.646 % | |
| Return On Assets YoY | -60.026 % | |
| Return On Assets IPRWA | high: 6.118 % mean: 2.861 % median: 2.795 % DFH: 1.553 % low: -1.377 % |
|
| Return On Capital Employed (ROCE) | 3.445 % | |
| Return On Equity (ROE) | 0.041 | |
| Return On Equity QoQ | 20.456 % | |
| Return On Equity YoY | -60.297 % | |
| Return On Equity IPRWA | high: 0.108 mean: 0.046 DFH: 0.041 median: 0.039 low: -0.031 |
|
| DuPont ROE | 4.197 % | |
| Return On Invested Capital (ROIC) | 1.878 % | |
| Return On Invested Capital QoQ | 28.366 % | |
| Return On Invested Capital YoY | -89.51 % | |
| Return On Invested Capital IPRWA | high: 7.738 % mean: 3.526 % median: 3.312 % DFH: 1.878 % low: -1.077 % |
|