LGI Homes Financials

$324.2 M

Revenue Q2, 2017

$1.7 B

Mkt cap, 11-Dec-2017
Gross profit (Q2, 2017)86.3 M
Gross profit margin (Q2, 2017), %27%
Net income (Q2, 2017)32.2 M
EBIT (Q2, 2017)48.5 M
Cash, 30-Jun-201727.3 M
EV2.6 B

Financials

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

162.8 m383.3 m630.2 m838.3 m

Revenue growth, %

135%64%33%

Cost of goods sold

121.3 m280.5 m463.3 m616.7 m

Gross profit

41.5 m102.8 m166.9 m221.6 m

Gross profit Margin, %

25%27%26%26%

Sales and marketing expense

67 m

General and administrative expense

43.2 m

Operating expense total

110.1 m

EBIT

12.1 m42.4 m79.7 m111.5 m

EBIT margin, %

7%11%13%13%

Interest expense

50.9 k

Pre tax profit

22.8 m43.1 m80.3 m113.7 m

Income tax expense

(1.1 m)14.9 m27.5 m38.6 m

Net Income

21.7 m28.2 m52.8 m75 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

75.9 m106.4 m92.5 m120.7 m158.8 m174 m162.5 m222.7 m216.3 m162.9 m324.2 m

Cost of goods sold

56.4 m78 m67.3 m89.2 m116.3 m127.9 m121.1 m163.6 m159.5 m119.4 m237.8 m

Gross profit

19.5 m28.4 m25.3 m31.5 m42.6 m46 m41.4 m59.1 m56.8 m43.5 m86.3 m

Gross profit Margin, %

26%27%27%26%27%26%25%27%26%27%27%

Sales and marketing expense

7.4 m9.2 m9.2 m11.6 m13.4 m14.1 m14.1 m17.9 m17 m16.1 m24.2 m

General and administrative expense

5.1 m5.3 m6.1 m8.2 m7.9 m8.9 m10 m10.5 m10.7 m11.3 m13.7 m

Operating expense total

12.5 m14.5 m15.4 m19.8 m21.3 m23 m24 m28.4 m27.7 m27.4 m37.9 m

EBIT

7.1 m13.9 m9.9 m11.7 m21.2 m23 m17.3 m30.7 m29.1 m16.1 m48.5 m

EBIT margin, %

9%13%11%10%13%13%11%14%13%10%15%

Pre tax profit

7.1 m13.9 m10.5 m11.7 m21.2 m23.2 m17.8 m31.4 m29.5 m16.8 m48.6 m

Income tax expense

(2.5 m)(4.9 m)(3.5 m)(4 m)(7.3 m)(7.8 m)6.1 m10.7 m10 m5.1 m16.4 m

Net Income

4.6 m9 m7 m15.4 m11.7 m20.7 m19.5 m11.8 m32.2 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

54.1 m31.4 m37.6 m49.5 m

Accounts Receivable

5.4 m7.4 m17.3 m17.1 m

Inventories

142 m367.9 m531.2 m717.7 m

PP&E

844.7 k1.6 m2.1 m2 m

Goodwill

12.7 m12.5 m12.2 m12 m

Total Assets

221 m438.1 m622.3 m814.5 m

Accounts Payable

14 m15.5 m24 m12.3 m

Short-term debt

35.5 m216.1 m400.5 m

Long-term debt

35.5 m216.1 m400.5 m

Total Debt

71.1 m432.2 m801 m

Total Liabilities

459.3 m

Common Stock

223 k

Additional Paid-in Capital

157.1 m163.5 m175.6 m208.3 m

Retained Earnings

7.1 m35.3 m88.2 m163.2 m

Total Equity

164.4 m182.5 m247.4 m355.2 m

Debt to Equity Ratio

0.4 x2.4 x2.3 x

Debt to Assets Ratio

0.3 x1 x1 x

Financial Leverage

1.3 x2.4 x2.5 x2.3 x

Quarterly

USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

49.7 m36.5 m47.6 m49.7 m45.9 m31.6 m27.3 m

Accounts Receivable

14.8 m15.8 m13.8 m15.1 m15.6 m17.2 m34.1 m

Inventories

407.1 m460.5 m561 m609.9 m676.9 m788.8 m836 m

PP&E

2.1 m2.1 m2 m2 m2 m1.9 m1.9 m

Goodwill

12.4 m12.3 m12.2 m12.1 m12 m12 m12 m

Total Assets

503.1 m547 m653.1 m707.4 m768.6 m867.6 m931.7 m

Accounts Payable

24.7 m28.9 m20.5 m22 m18.6 m19.9 m19 m

Short-term debt

239.9 m247.8 m323.1 m334.2 m354.9 m426.2 m442.9 m

Long-term debt

239.9 m247.8 m323.1 m334.2 m354.9 m426.2 m442.9 m

Total Debt

479.9 m495.6 m646.2 m668.3 m709.9 m852.3 m885.9 m

Total Liabilities

298.1 m322.7 m389.6 m406.5 m438.1 m494.4 m525.3 m

Additional Paid-in Capital

164.4 m168.1 m180 m196.8 m206.9 m214.6 m215.5 m

Retained Earnings

57 m72.4 m99.9 m120.5 m140 m175 m207.2 m

Total Equity

205.1 m224.2 m263.5 m300.9 m330.6 m373.2 m406.4 m

Financial Leverage

2.5 x2.4 x2.5 x2.4 x2.3 x2.3 x2.3 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

21.7 m28.2 m52.8 m75 m

Depreciation and Amortization

291.6 k825 k883 k1.1 m

Accounts Receivable

(3.9 m)(2 m)(10 m)270 k

Inventories

(75 m)(200 m)(150 m)(183.9 m)

Accounts Payable

5.8 m1.5 m9.6 m(11.7 m)

Cash From Operating Activities

(54.5 m)(173.2 m)(89.2 m)(108.2 m)

Purchases of PP&E

(684.4 k)(1.2 m)(1.1 m)(722 k)

Cash From Investing Activities

(31.3 m)(16.4 m)(1.1 m)(722 k)

Long-term Borrowings

(52 m)(45 m)

Cash From Financing Activities

132.7 m166.9 m96.5 m120.9 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

4.6 m13.6 m20.7 m37.1 m11.7 m32.4 m51.8 m11.8 m44 m

Depreciation and Amortization

144 k301 k471 k206 k422 k647 k366 k649 k872 k211 k406 k

Accounts Receivable

(139 k)(3.8 m)(4.3 m)(5.6 m)(7.4 m)(8.5 m)3.6 m2.3 m1.7 m(95 k)(17.1 m)

Inventories

(35.6 m)(75.3 m)(143.5 m)(14.5 m)(33.7 m)(85.4 m)(28.9 m)(76.6 m)(143.1 m)(70.3 m)(116.7 m)

Accounts Payable

(631 k)5.4 m1.4 m2.4 m9.5 m14.2 m(3.3 m)(2 m)(5.5 m)7.6 m6.7 m

Cash From Operating Activities

(41.4 m)(67.5 m)(129.6 m)(5.4 m)(1.8 m)(24.4 m)(10.5 m)(34.5 m)(67 m)(47.2 m)(67.7 m)

Purchases of PP&E

(298 k)(539 k)(828 k)(189 k)(417 k)(892 k)(185 k)(358 k)(571 k)(171 k)(323 k)

Cash From Investing Activities

(298 k)(539 k)(828 k)(473 k)(417 k)(892 k)(185 k)(358 k)(571 k)(171 k)(323 k)

Long-term Borrowings

(1.7 m)(2.4 m)(2.9 m)(580 k)(154.7 m)(154.8 m)(17 m)(37 m)(40 m)(15 m)

Cash From Financing Activities

13.3 m56.8 m122.5 m13.5 m20.6 m30.3 m20.7 m46.9 m75.9 m29.5 m45.8 m

Ratios

Y, 2017

EV/EBIT

52.7 x

EV/CFO

-37.7 x

Financial Leverage

2.3 x