BEAZER HOMES USA INC

Listed Company

BZHCIK 0000915840NYSELarge AcceleratedOperative BuildersDelawareFY ends Sep 30

Period

FY 2025

Revenue

$2.37B

Net Income

$45.59M

Total Assets

$2.61B

Equity

$1.25B

Shares Out

27.33M

Op. Cash Flow

$31.98M

Business

Beazer Homes USA Inc is a national homebuilder that designs and constructs energy-efficient, healthier homes and master-planned communities. It offers new single-family homes and Gatherings® active-adult products (condominiums, villas, duets), along with curated options such as Choice Plans®, Style Choice, mortgage comparison services via Choice Lenders, customer care, and warranty programs. Its operations are organized between corporate functions (market evaluation, capital allocation, centralized support) and field operating divisions led by regional market leaders responsible for development, construction, marketing, sales and warranty. The company operates in 13 states across the West, East and Southeast U.S., selling through model-home sales counselors, independent realtors and digital marketing channels.

Summary from filing dated 2025-11-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total revenue	2,372	2,330	2,207	2,317	2,140
Home construction and land sales expenses	2,021	1,904	1,763	1,777	1,735
Inventory impairments and abandonments	13	2	641,000	3	853,000
Gross profit	338	424	443	538	404
Commissions	77	80	73	74	80
General and administrative expenses	205	186	180	177	163
Depreciation and amortization	19	15	12	—	—
Operating income	37	143	177	272	147
Loss on extinguishment of debt, net	0	−437,000	−546,000	309,000	−2
Other income, net	4	16	6	1	−1
Income from continuing operations before income taxes	41	159	183	274	144
(Benefit) expense from income taxes	−5	19	24	53	22
Income from continuing operations	46	140	159	221	122
Loss from discontinued operations, net of tax	0	0	−77,000	−14,000	−159,000
Net income	46	140	159	221	122
Basic (in shares)	30	31	30	30	30
Diluted (in shares)	30	31	31	31	30
Continuing operations (in dollars per share)	1.53	4.59	5.23	7.25	4.08
Discontinued operations (in dollars per share)	0	0	0	0	−0.01
Total (in dollars per share)	1.53	4.59	5.23	7.25	4.07
Continuing operations (in dollars per share)	1.52	4.53	5.16	7.17	4.01
Discontinued operations (in dollars per share)	0	0	0	0	0
Total (in dollars per share)	1.52	4.53	5.16	7.17	4.01

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	215	204	346	215	247
Restricted cash	4	39	41	37	27
Accounts receivable (net of allowance of $266 and $284, respectively)	78	65	46	36	26
Owned inventory	2,029	2,041	1,756	1,738	1,502
Deferred tax assets, net	143	129	134	156	205
Property and equipment, net	48	39	31	25	23
Operating lease right-of-use assets	35	18	17	10	12
Goodwill	11	11	11	11	11
Other assets	47	46	29	15	12
Total assets	2,610	2,592	2,411	2,252	2,079
Trade accounts payable	143	164	154	144	133
Operating lease liabilities	28	20	19	11	14
Other liabilities	160	150	157	174	152
Total debt (net of debt issuance costs of $6,611 and $8,310, respectively)	1,029	1,025	978	983	1,054
Total liabilities	1,361	1,359	1,308	1,313	1,354
Preferred stock (par value $0.01 per share, 5,000,000 shares authorized, no shares issued)	0	0	0	0	0
Common stock (par value $0.001 per share, 63,000,000 shares authorized, 29,762,293 issued and outstanding and 31,047,510 issued and outstanding, respectively)	30,000	31,000	31,000	31,000	31,000
Paid-in capital	825	854	865	860	866
Retained earnings	424	378	238	79	−141
Total stockholders equity	1,249	1,232	1,103	939	725
Total liabilities and stockholders equity	2,610	2,592	2,411	2,252	2,079

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	19	15	12	13	14
Stock-based compensation expense	7	7	7	8	12
Inventory impairments and abandonments	13	2	641,000	3	853,000
Model sale-leaseback revenue	−9	0	0	—	—
Deferred and other income tax (benefit) expense	−5	19	24	53	22
(Gain) loss on disposal of fixed assets	−301,000	−426,000	1	—	—
Gain on sale of investment	0	−9	0	—	—
Increase in accounts receivable	−13	−20	−10	−10	−6
Decrease in income tax receivable	0	0	10	0	460,000
Decrease (increase) in inventory	3	−282	−15	−231	−148
(Increase) decrease in other assets	−10	341,000	−3	−3	−2
(Decrease) increase in trade accounts payable	−21	10	11	10	1
Increase (decrease) in other liabilities	1	−21	−20	17	14
Net cash provided by (used in) operating activities	32	−138	178	81	32
Capital expenditures	−29	−22	−20	−15	−15
Proceeds from sale of fixed assets	317,000	428,000	445,000	339,000	456,000
Proceeds from maturities of investment securities	10	0	0	—	—
Purchases of investment securities	−1	−8	−10	0	0
Other	0	0	−2,000	0	0
Net cash used in investing activities	−20	−30	−30	−15	−14
Repayment of debt	0	−202	−9	−74	−82
Proceeds from issuance of debt	0	250	0	0	0
Repayment of borrowings from credit facility	−450	−280	0	−195	0
Borrowings from credit facility	450	280	0	195	0
Debt issuance costs	−230,000	−6	−3	0	−901,000
Repurchase of common stock	−33	−13	0	−8	0
Tax payments for stock-based compensation awards	−3	−5	−3	−7	−3
Stock option exercises	107,000	20,000	262,000	5,000	569,000
Net cash (used in) provided by financing activities	−36	24	−14	−89	−86
Net (decrease) increase in cash, cash equivalents, and restricted cash	−24	−144	134	−22	−68

Filings

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