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Cavco Industries CVCO Site improvements on Retail Sales — Net revenue

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Other financials

Income statement

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Revenue$550.1M+8.2%
Gross profit$127.1M+9.4%
Operating income$51.5M+33.2%
Net income$42.5M+16.9%
EPS (diluted)$5.43+21.7%

Balance sheet

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Cash & equivalents$236.7M-33.5%
Total debt$41.4M-4.9%
Total equity$1.1B+3.6%
Total assets$1.5B+6.0%

Cash flow

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Operating cash flow$67.4M+74.3%
CapEx$8.0M+31.1%
Free cash flow$59.3M+82.5%

Valuation

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Market cap$4.45B+24.6%
Enterprise value$4.25B+30.4%
P/E23.3×+4.4×
P/S+0.3×

Profitability

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Gross margin23.5%+0.4pp
Operating margin10.2%+0.7pp
Net margin8.5%0.0pp
FCF margin10.3%+2.5pp

Returns & leverage

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Return on equity17.6%+1.3pp
Debt / equity0.0×
Current ratio2.5×-0.5×

Where this comes from

Reported directly by Cavco Industries in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Cavco Industries’s 10-K, filed May 22, 2026.

Filed
May 22, 2026, 5:01 PM EDT
Fiscal year
FY2026
Accession
0001628280-26-037782

Site Improvements on Retail Sales. We recognize sales of subcontracted ancillary services, such as preparation of the home site or other exterior enhancements. Such services are provided as a convenience to the customer. As we are involved in the selection of subcontractors and ultimately responsible for execution of these services, under FASB ASC 606, Revenue from Contracts with Customers, we recognize the sale of these ancillary services on a gross basis. The revenues associated with these programs for fiscal years 2026, 2025 and 2024 were $85.2 million, $65.0 million and $57.6 million, respectively.

ITEM 16. FORM 10-K SUMMARY

FAQ

What is Cavco Industries's site improvements on retail sales — net revenue?
Cavco Industries (CVCO) reported site improvements on retail sales — net revenue of $21.3M in Q1 2026.
How has Cavco Industries's site improvements on retail sales — net revenue changed year-over-year?
Cavco Industries's site improvements on retail sales — net revenue increased by 31.1% year-over-year, from $16.25M to $21.3M.
What is the long-term trend for Cavco Industries's site improvements on retail sales — net revenue?
Over 4 years (2022 to 2026), Cavco Industries's site improvements on retail sales — net revenue has grown at a 18.0% compound annual growth rate (CAGR), from $43.9M to $85.2M.
What does site improvements on retail sales — net revenue mean?
This metric represents the total net revenue generated from subcontracted site preparation and improvement services provided in conjunction with the sale of factory-built housing units. It reflects the company's ability to offer comprehensive, turnkey solutions to customers by managing the necessary land development and infrastructure work required for home installation. Growth in this revenue stream indicates an expansion in service-based offerings and deeper integration into the customer's home-buying experience.

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