CAVCO INDUSTRIES, INC.

Listed Company

CVCOCIK 0000278166NasdaqLarge AcceleratedMobile HomesDelawareFY ends Mar 28

Period

FY 2026

Revenue

$2.24B

Net Income

$190.55M

Total Assets

$1.49B

Equity

$1.10B

Shares Out

7.68M

Op. Cash Flow

$267.49M

Business

CAVCO INDUSTRIES, INC. designs and produces factory-built homes and related products and provides mortgage financing and property/casualty insurance through subsidiaries. Its product offerings include HUD-code manufactured homes, park model RVs, vacation cabins, modular residential and commercial structures, and customizable home upgrades. The company operates through two principal segments: factory-built housing and financial services, which include its CountryPlace mortgage subsidiary and Standard Casualty insurance subsidiary. It manufactures in multiple U.S. locations and Mexico and distributes homes via independent and company-owned retailers, planned community operators, developers and retail stores in numerous states and Canada.

Summary from filing dated 2025-05-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 28, 2026 2026-03-28	Mar 29, 2025 2025-03-29	Mar 30, 2024 2024-03-30
Net revenue	2,245	2,015	1,795
Cost of sales	1,718	1,550	1,368
Gross profit	527	466	427
Selling, general and administrative expenses	298	275	248
Income from operations	229	190	179
Interest income	16	21	21
Interest expense	541,000	517,000	2
Other income, net	335,000	222,000	849,000
Income before income taxes	245	211	199
Income tax expense	54	40	41
Net income	191	171	158
Less: net income attributable to redeemable noncontrolling interest	0	0	88,000
Net income attributable to Cavco common stockholders	191	171	158
Comprehensive income	—	—	—
Net income	191	171	158
Reclassification adjustment for securities sold	13,000	−340,000	−95,000
Applicable income taxes	3,000	−71,000	−20,000
Net change in unrealized position of investments held	39,000	94,000	262,000
Applicable income taxes	8,000	21,000	55,000
Comprehensive income	191	171	158
Less: comprehensive income attributable to redeemable noncontrolling interest	0	0	88,000
Comprehensive income attributable to Cavco common stockholders	191	171	158
Net income per share attributable to Cavco common stockholders	—	—	—
Basic (in usd per share)	24.26	20.97	18.55
Diluted (in usd per share)	23.98	20.71	18.37
Weighted average shares outstanding:	—	—	—
Basic (in shares)	8	8	9
Diluted (in shares)	8	8	9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 28, 2026 2026-03-28	Mar 29, 2025 2025-03-29
ASSETS	—	—
Current assets:	—	—
Cash and cash equivalents	237	356
Restricted cash, current	20	19
Accounts receivable, net	108	106
Short-term investments	16	20
Current portion of loans receivable, net	76	82
Inventories	296	253
Prepaid expenses and other current assets	72	75
Assets, Current, Total	825	910
Restricted cash	585,000	585,000
Investments	38	18
Loans receivable, net	78	74
Property, plant and equipment, net	279	228
Goodwill	209	122
Other intangibles, net	28	17
Operating lease right-of-use assets	34	36
Deferred income taxes	0	2
Total assets	1,491	1,407
LIABILITIES AND STOCKHOLDERS' EQUITY	—	—
Current liabilities:	—	—
Accounts payable	44	37
Accrued expenses and other current liabilities	291	266
Total current liabilities	335	303
Operating lease liabilities	31	32
Other liabilities	7	7
Deferred income taxes	15	0
Total liabilities	388	342
Stockholders' equity:	—	—
Preferred stock, $0.01 par value; 1,000,000 shares authorized; No shares issued or outstanding	0	0
Common stock, $0.01 par value; 40,000,000 shares authorized; Issued 9,474,288 and 9,436,732 shares, respectively; Outstanding $7,738,700 and $8,008,012 shares, respectively	95,000	94,000
Treasury stock, at cost; 1,735,588 and 1,428,720 shares, respectively	586	425
Additional paid-in capital	300	291
Retained earnings	1,389	1,198
Accumulated other comprehensive income	30,000	9,000
Total stockholders' equity	1,103	1,065
Total liabilities and stockholders' equity	1,491	1,407

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 28, 2026 2026-03-28	Mar 29, 2025 2025-03-29	Mar 30, 2024 2024-03-30
OPERATING ACTIVITIES	—	—	—
Net income	191	171	158
Adjustments to reconcile net income to net cash provided by operating activities:	—	—	—
Depreciation and amortization	23	19	19
Loss on infinite-lived intangible write-off	0	10	0
Provision for loan losses	−589,000	−511,000	−632,000
Deferred income taxes	10	−7	−3
Stock-based compensation expense	13	9	7
Non-cash interest income, net	928,000	1	2
(Gain) loss on sale or retirement of property, plant and equipment, net	35,000	−58,000	−132,000
Gain on investments and sale of loans, net	5	2	9
Changes in operating assets and liabilities, net of acquisitions	—	—	—
Accounts receivable	−3	29	−12
Loans receivable originated	222	209	202
Proceeds from sales of consumer loans	80	51	92
Principal payments received on loans receivable	149	141	124
Inventories	−5	11	−45
Prepaid expenses and other current assets	−10	−8	−8
Accounts payable and accrued expenses and other current liabilities	14	29	−22
Net cash provided by operating activities	267	178	225
INVESTING ACTIVITIES	—	—	—
Purchases of property, plant and equipment	35	21	17
Payments for acquisitions, net	173	0	19
Proceeds from sale of property, plant and equipment and assets held for sale	203,000	184,000	5
Purchases of investments	35	28	13
Proceeds from sale of investments	20	25	13
Net cash used in investing activities	−222	−24	−32
FINANCING ACTIVITIES	—	—	—
Payments for taxes on stock option exercises and releases of equity awards	5	3	2
Proceeds from exercise of stock options	2	4	4
Payments on secured financings and other	295,000	311,000	488,000
Payments for common stock repurchases	160	149	109
Distributions to noncontrolling interest	0	0	420,000
Net cash used in financing activities	−163	−148	−108
Net increase (decrease) in cash, cash equivalents and restricted cash	−118	7	85
Cash, cash equivalents and restricted cash at end of the fiscal year	—	—	—
Cash, cash equivalents and restricted cash at end of the fiscal year	—	—	—
Supplemental disclosures of cash flow information:	—	—	—
Cash paid during the year for income taxes	39	46	37
Cash paid during the year for interest	272,000	11,000	801,000
Supplemental disclosures of noncash activity:	—	—	—
Change in GNMA loans eligible for repurchase	2	−1	−3
Right-of-use assets recognized and operating lease obligations incurred	5	2	15
Non-cash consideration for acquisitions	0	0	5

Filings

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