What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Green Brick Partners GRBK Operating margin

Discontinued — last reported Q2 '19

Operating margin at other companies

Toll BrothersTOL

14.6%-2.0pp

Skyline ChampionSKY

9.5%-0.1pp

Cavco IndustriesCVCO

10.2%+0.7pp

Howard HughesHHH

22.1%-11.1pp

Equity Lifestyle PropertiesELS

25.6%+1.0pp

AvalonBay CommunitiesAVB

67%+0.9pp

Other financials

Income statement

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Revenue$465.5M-4.9%

Gross profit$141.2M-12.1%

Net income$60.9M-18.8%

EPS (diluted)$1.39-16.8%

Balance sheet

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Cash & equivalents$177.0M+31.3%

Total debt$8.2M+2.6%

Total equity$1.9B+13.3%

Total assets$2.5B+11.1%

Cash flow

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Operating cash flow$56.3M-18.2%

CapEx$1.2M+72.1%

Free cash flow$55.0M-19.1%

Valuation

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Market cap$3.22B+7.2%

Enterprise value$3.05B+5.9%

P/E10.8×+2.7×

P/S1.6×+0.2×

Profitability

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Gross margin31.6%-2.7pp

Net margin14.8%-2.9pp

FCF margin10.3%+6.0pp

Returns & leverage

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Return on equity16.6%-7.7pp

Debt / equity0×0.0×

Where this comes from

Calculated from Green Brick Partners’s reported figures.

operating income/total revenue=9.6%

Based on trailing twelve months.

The official record: Green Brick Partners’s 10-Q, filed August 4, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.