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Green Brick Partners, Inc.
GRBKCIK 0001373670NYSELarge AcceleratedOperative BuildersDelawareFY ends Dec 31
Period
FY 2025
Revenue
$2.04B
Net Income
$343.51M
Total Assets
$2.53B
Equity
$1.86B
Shares Out
43.15M
Op. Cash Flow
$213.24M
Business
Green Brick Partners, Inc. is a diversified homebuilding and land development company that acquires and develops land and builds homes through its branded builder subsidiaries. It offers single-family homes, townhomes, condominiums, patio homes, luxury homes, and related title, mortgage and insurance services. Its key business segments include land acquisition and development, lot development and supply, homebuilding through seven branded builders, and financial services (title, mortgage, insurance). The company sells homes primarily through model-home communities, digital and traditional marketing, and independent realtors across Dallas–Fort Worth, Austin, Houston, Atlanta and the Treasure Coast of Florida.
Summary from filing dated 2025-02-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Total revenues | 2,040 | 2,061 | 1,749 | |
| Total cost of revenues | 1,399 | 1,358 | 1,201 | |
| Total gross profit | 641 | 704 | 548 | |
| Selling, general and administrative expenses | 231 | 227 | 193 | |
| Income (Loss) from Equity Method Investments | 1 | 5 | 17 | |
| Other income, net | 28 | 30 | 19 | |
| Income before income taxes | 438 | 512 | 391 | |
| Income Tax Expense (Benefit) | 95 | 95 | 85 | |
| Net income | 344 | 417 | 307 | |
| Less: Net income attributable to noncontrolling interests | 30 | 36 | 22 | |
| Net income attributable to Green Brick Partners, Inc. | 313 | 382 | 285 | |
| Net income attributable to Green Brick Partners, Inc. per common share: | — | — | — | |
| Earnings Per Share, Basic | 7.09 | 8.51 | 6.2 | |
| Earnings Per Share, Diluted | 7.07 | 8.45 | 6.14 | |
| Weighted Average Number of Shares Outstanding, Diluted | 44 | 45 | 46 | |
| Weighted Average Number of Shares Outstanding, Basic | 44 | 45 | 45 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 |
|---|---|---|---|
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | 52 | 45 | |
| ASSETS | — | — | |
| Cash and cash equivalents | 155 | 142 | |
| Restricted Cash | 36 | 18 | |
| Receivables | 40 | 14 | |
| Inventory owned excluding consolidated VIE | 1,942 | 1,771 | |
| Consolidated inventory related to VIE | 158 | 167 | |
| Total inventory | 2,099 | 1,938 | |
| Loan, Mortgage, Held-for-Sale, Fair Value Disclosure | 49 | 0 | |
| Equity Method Investments | 93 | 61 | |
| Operating Lease, Right-of-Use Asset | 7 | 7 | |
| Property and equipment, net | 6 | 7 | |
| Earnest money deposits | 13 | 14 | |
| Deferred income tax assets, net | 11 | 14 | |
| Intangible Assets, Net (Excluding Goodwill) | 197,000 | 282,000 | |
| Goodwill | 680,000 | 680,000 | |
| Other assets | 23 | 36 | |
| Total assets | 2,535 | 2,250 | |
| LIABILITIES AND EQUITY | — | — | |
| Accounts payable | 95 | 60 | |
| Accrued expenses | 153 | 110 | |
| Contract with Customer, Liability, Revenue Recognized | 26 | 37 | |
| Operating Lease, Liability | 9 | 8 | |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | 2 | — | |
| Borrowings on lines of credit, net | — | 23 | |
| Warehouse Agreement Borrowings | 46 | 0 | |
| Senior Notes | 262 | 299 | |
| Notes payable | 14 | 15 | |
| Total liabilities | 602 | 552 | |
| Equity: | — | — | |
| Common Stock, Shares, Outstanding | 43 | 44 | |
| Treasury Stock, Common, Value | — | 0 | |
| Additional Paid in Capital | 244 | 245 | |
| Retained earnings | 1,567 | 1,333 | |
| Total Green Brick Partners, Inc. stockholders’ equity | 1,859 | 1,625 | |
| Noncontrolling interests | 22 | 28 | |
| Total equity | 1,881 | 1,653 | |
| Total liabilities and equity | 2,535 | 2,250 | |
| Common stock, par value (in dollars per share) | 0.01 | 0.01 | |
| Common stock, shares authorized (in shares) | 100 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Cash flows from operating activities: | — | — | — | |
| Net income | 344 | 417 | 307 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | — | — | — | |
| Depreciation and amortization expense | 5 | 5 | 4 | |
| Loss on disposal of property and equipment, net | −7,000 | −74,000 | −207,000 | |
| Share-based compensation expense | 12 | 8 | 7 | |
| Deferred income taxes, net | 3 | 1 | 1 | |
| Equity in income of unconsolidated entities | 1 | 5 | 17 | |
| Gain on sale of investment in unconsolidated entity | 0 | 11 | 0 | |
| Allowances For Option Deposits And Pre-Acquisition Costs | 3 | 284,000 | 64,000 | |
| Distributions of income from unconsolidated entities | 7 | 8 | 12 | |
| Changes in operating assets and liabilities: | — | — | — | |
| Increase in receivables | 26 | 3 | 5 | |
| Increase in inventory | 160 | 403 | 109 | |
| Decrease in earnest money deposits | −478,000 | −3 | −7 | |
| Increase (Decrease) in Loan, Mortgage, Held-for-Sale | 49 | 0 | 0 | |
| Decrease (increase) in other assets | −10 | 8 | 15 | |
| Increase in accounts payable | 35 | 5 | 3 | |
| Increase in accrued expenses | 42 | 14 | 5 | |
| Increase (Decrease) in Contract with Customer, Liability | −11 | −6 | 14 | |
| Net cash provided by operating activities | 213 | 26 | 213 | |
| Cash flows from investing activities: | — | — | — | |
| Investments in unconsolidated entities | 39 | 32 | 6 | |
| Proceeds from sale of investment in unconsolidated entity | 0 | 64 | 0 | |
| Purchase of property and equipment, net of disposals | 5 | 4 | 8 | |
| Net cash (used in) provided by investing activities | −44 | 28 | −13 | |
| Cash flows from financing activities: | — | — | — | |
| Borrowings from lines of credit | 171 | 106 | 22 | |
| Repayments of lines of credit | 196 | 81 | 42 | |
| Borrowings from warehouse lines of credit | 113 | 0 | 0 | |
| Repayments of warehouse lines of credit | 67 | 0 | 0 | |
| Repayments of Unsecured Debt | 38 | 38 | 0 | |
| Proceeds from Notes Payable | 0 | 15 | 63,000 | |
| Repayments of notes payable | 500,000 | 13 | 2 | |
| Payments of Debt Issuance Costs | 941,000 | 841,000 | 638,000 | |
| Payments of withholding tax on vesting of restricted stock awards | 3 | 11 | 2 | |
| Payments for Repurchase of Common Stock | 84 | 48 | 46 | |
| Payments of Dividends | 3 | 3 | 3 | |
| Proceeds from Issuance of Common Stock | 0 | 70 | 0 | |
| Distributions for reallocation of shares of common stock by large stockholder | 0 | 70 | 0 | |
| Proceeds from (Payment for) Other Financing Activity | −4 | −3 | −2 | |
| Distributions to noncontrolling interests | 27 | 17 | 19 | |
| Net cash used in financing activities | −138 | −94 | −94 | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 31 | −40 | 106 | |
| Cash and cash equivalents and restricted cash, end of period | — | — | — | |
| Cash and cash equivalents and restricted cash, end of period | — | — | — | |
| Supplemental disclosure of cash flow information: | — | — | — | |
| Cash paid for income taxes, net of refunds | 50 | 84 | 91 |
Filings
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