Taylor Morrison Home Corp

Listed Company

TMHCCIK 0001562476NYSELarge AcceleratedOperative BuildersDelawareFY ends Dec 31

Period

FY 2025

Revenue

$8.12B

Net Income

$782.50M

Total Assets

$9.84B

Equity

$6.29B

Shares Out

93.43M

Op. Cash Flow

$817.35M

Business

Taylor Morrison Home Corp is a national homebuilder and land developer that acquires, develops and constructs single-family and multi-family homes and master-planned communities. It offers a range of homes for entry-level, move-up and resort lifestyle buyers and provides related services including mortgage origination (Taylor Morrison Home Funding), title and closing (Inspired Title), homeowner insurance (Taylor Morrison Insurance Services) and a Build-to-Rent business under the Yardly brand. The company operates distinct homebuilding and financial services segments and brands (Taylor Morrison, Darling Homes Collection, Esplanade, Yardly). It sells homes across multiple U.S. markets through digital channels, model and quick-move-in homes, sales offices and third-party brokers, and participates in joint ventures and financings for communities.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	8,121	8,168	7,418	8,225	7,501
Total cost of revenue	6,251	6,184	5,635	6,133	5,953
Gross margin	1,870	1,984	1,783	2,092	1,548
Sales, commissions and other marketing costs	461	456	418	398	400
General and administrative expenses	274	314	281	245	268
Net income from unconsolidated entities	−5	−6	−9	14	−11
Interest expense/(income), net	47	13	−13	−18	—
Other expense, net	38	51	88	38	24
Loss on extinguishment of debt, net	13	0	295,000	−14	0
Income before income taxes	1,042	1,156	1,018	1,393	863
Effective Rate	251	270	248	336	181
Net income before allocation to non-controlling interests	791	887	770	1,056	682
Net income attributable to non-controlling interests	−9	−3	−812,000	−3	−19
Net income	783	883	769	1,053	663
Basic (in dollars per share)	7.9	8.43	7.09	—	—
Diluted (in dollars per share)	7.77	8.27	6.98	—	—
Basic (in shares)	99	105	108	115	126
Diluted (in shares)	101	107	110	116	128

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	850	487	799	724	833
Restricted cash	1	15,000	9	2	4
Total cash	851	487	807	727	836
Owned inventory	6,046	6,163	5,474	5,347	5,444
Consolidated real estate not owned	94	71	72	24	55
Total real estate inventory	6,141	6,234	5,545	5,371	5,500
Land deposits	361	300	203	263	230
Mortgage loans held for sale	133	208	193	346	468
Lease right of use assets	61	68	75	90	86
Prepaid expenses and other assets, net	567	371	291	265	315
Other receivables, net	242	218	185	192	151
Investments in unconsolidated entities	487	440	346	283	171
Deferred tax assets, net	74	76	68	68	151
Property and equipment, net	259	233	295	202	155
Goodwill	663	663	663	663	663
Total assets of consolidated joint ventures	9,838	9,297	8,672	8,471	8,728
Accounts payable	252	270	263	270	253
Accrued expenses and other liabilities	683	632	549	490	525
Lease liabilities	72	79	85	100	96
Income taxes payable	8	2	0	—	0
Customer deposits	125	239	326	412	486
Estimated development liabilities	4	4	27	44	39
Senior notes, net	1,463	1,470	1,469	1,816	2,452
Loans payable and other borrowings	745	476	395	361	404
Revolving credit facility borrowings	0	0	0	0	32
Mortgage warehouse borrowings	83	174	153	306	414
Liabilities attributable to consolidated real estate not owned	94	71	72	24	55
Total liabilities	3,529	3,419	3,340	3,824	4,757
COMMITMENTS AND CONTINGENCIES (Note 13)	—	—	—	—	—
Common stock, $0.00001 par value, 400,000,000 shares authorized, 162,809,286 and 162,061,709 shares issued, 96,536,827 and 102,241,978 shares outstanding as of December 31, 2025 and December 31, 2024, respectively	1,000	1,000	1,000	1,000	1,000
Additional paid-in capital	3,115	3,086	3,069	3,025	2,997
Treasury stock at cost, 66,272,459 and 59,819,731 shares as of December 31, 2025 and December 31, 2024, respectively	−2,001	−1,616	−1,265	−1,137	−761
Retained earnings	5,176	4,394	3,511	2,742	1,689
Accumulated other comprehensive income	3	3	896,000	359,000	689,000
Total stockholders equity attributable to TMHC	6,293	5,867	5,315	4,630	3,926
Non-controlling interests	16	12	17	17	45
Total stockholders equity	6,309	5,878	5,332	4,647	3,971
Total liabilities and owners equity	9,838	9,297	8,672	8,471	8,728

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock compensation expense	29	22	26	27	20
Distributions of earnings from unconsolidated entities	13	13	9	5	11
Depreciation and amortization	40	41	33	34	40
Lease expense	18	20	25	27	18
Debt issuance costs amortization	3	3	3	2	539,000
Estimated development liability change in estimate	0	−23	−15	0	0
Deferred income taxes	2	−8	−169,000	84	87
Real estate impairment charges	29	30	12	25	0
Change in Build-to-Rent/Urban Form assets due to sale	67	80	0	42	20
Real estate inventory and land deposits	27	−797	−79	−51	−343
Mortgage loans held for sale, prepaid expenses and other assets, net	−183	−182	31	6	−511
Customer deposits	−114	−87	−86	−74	174
Accounts payable, accrued expenses and other liabilities	82	216	85	−62	197
Income taxes payable	6	2	0	0	−13
Net cash provided by operating activities	817	210	806	1,108	377
Purchase of property and equipment	−40	−36	−33	−31	−21
Distributions of capital from unconsolidated entities	30	30	824,000	125	32
Investments of capital into unconsolidated entities	−86	−130	−65	−110	−75
Purchase of fixed-maturity securities	−56	0	0	—	—
Proceeds from sale and maturities of fixed-maturity securities	1	0	0	—	—
Purchase of equity securities	−5	0	0	—	—
Net cash used in investing activities	−155	−136	−97	−15	−74
Increase in loans payable and other borrowings	199	0	7	38	130
Repayments on loans payable and other borrowings	−1	−52	−21	−71	−125
Borrowings on revolving credit facilities	240	100	0	—	—
Repayments on revolving credit facilities	−240	−100	0	−413	−100
Borrowings on mortgage warehouse facilities	3,467	3,652	3,008	2,662	3,328
Repayments on mortgage warehouse facilities	−3,559	−3,631	−3,160	−2,770	−3,041
Proceeds from issuance of senior notes	525	0	0	0	0
Repayments on senior notes	−527	0	−350	−623	0
Payment of deferred financing costs	−16	0	0	—	—
Changes in stock option exercises and issuance of restricted stock, net	−493,000	−5	17	1	18
Payment of principal portion of finance lease	−1	−1	−1	−1	−1
Repurchase of common stock, net	−381	−348	−128	−376	−281
Cash and distributions to non-controlling interests of consolidated joint ventures, net	−3	−9	0	−31	−59
Net cash used in financing activities	−299	−394	−629	−1,203	−155,000
Net Increase/(Decrease) in Cash and Cash Equivalents and Restricted Cash	364	−320	80	−110	302
Income tax payments	−304	−264	−204	−270	−146
Loans payable issued to sellers in connection with land purchase contracts	247	341	236	231	280
Change in consolidated real estate not owned	23	−423,000	48	—	—
Non-cash portion of loss on debt extinguishment	2	0	0	—	—
Accrual of excise tax on share repurchases	−3	−3	0	—	—

Filings

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