CAVCO INDUSTRIES, INC. Earnings Per Share Disclosure
| Fiscal Year | |||||||||||||||||
| 2026 | 2025 | 2024 | |||||||||||||||
| Net income attributable to Cavco common stockholders | $ | 190,551 | $ | 171,036 | $ | 157,817 | |||||||||||
| Weighted average shares outstanding: | |||||||||||||||||
| Basic | 7,853,251 | 8,157,615 | 8,506,673 | ||||||||||||||
| Effect of dilutive securities | 92,798 | 102,341 | 85,238 | ||||||||||||||
| Diluted | 7,946,049 | 8,259,956 | 8,591,911 | ||||||||||||||
| Net income per share attributable to Cavco common stockholders | |||||||||||||||||
| Basic | $ | 24.26 | $ | 20.97 | $ | 18.55 | |||||||||||
| Diluted | $ | 23.98 | $ | 20.71 | $ | 18.37 | |||||||||||
Anti-dilutive common stock equivalents excluded | — | 206 | 44 | ||||||||||||||
| Outstanding RSUs excluded, as underlying performance criteria has not yet been met | 33,988 | 36,128 | 30,118 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 22, 2026 | Showing above |
| 2025 | May 23, 2025 | |
| 2024 | May 24, 2024 | |
| 2023 | May 19, 2023 | |
| 2022 | May 31, 2022 | |
| 2021 | May 28, 2021 | |
| 2020 | May 27, 2020 | |
| 2019 | May 29, 2019 | |
| 2017 | Jun 13, 2017 | |
| 2016 | Jun 21, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.