William Lyon Homes and subsidiaries are primarily engaged in the design, construction and sale of single family detached and attached homes in California, Arizona and Nevada. Since the founding of the Company’s predecessor in 1956, the Company has sold over 72,000 homes. The Company conducts its homebuilding operations through four reportable operating segments (Southern California, Northern California, Arizona and Nevada) including wholly-owned projects, projects being developed in joint ventures and projects being built and marketed on a “fee basis”. For 2009, approximately 62% of the home closings of the Company were derived from its California operations. For the year ended December 31, 2009, on a consolidated basis the Company had revenues from home sales of $253.9 million and delivered 915 homes, which includes $5.6 million of revenue and 17 homes from consolidated joint ventures. The Company recorded $34.1 million of revenue on 176 delivered homes for the year ended December 31, 2009 related to homes built and marketed on a “fee basis.”
Company Growth (employees)
William Lyon Homes Office Locations
William Lyon Homes Metrics
William Lyon Homes Financial Metrics
Revenue (FY, 2016) | $1.4 b |
Revenue growth (FY, 2015 - FY, 2016), % | 27% |
Net income (FY, 2016) | $68 m |
EBIT (FY, 2016) | $94 m |
Market capitalization (23-May-2017) | $738 m |
Closing share price (23-May-2017) | $23.3 |
Cash (31-Dec-2016) | $42.6 m |
EV | $1 b |
| FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | |
|---|---|---|---|---|
Revenue | $372.8 m | $372.8 m | $1.1 b | $1.4 b |
Revenue growth, % | 197% | 27% | ||
Gross profit | $225.8 m | |||
Gross profit Margin, % | 20% | |||
Operating expense total | $368.1 m | $368.1 m | $1 b | $1.3 b |
EBIT | $4.7 m | $4.7 m | $81 m | $94 m |
EBIT margin, % | 1% | 1% | 7% | 7% |
Interest expense | $2.6 m | |||
Pre tax profit | ($6.9 m) | $102.8 m | ||
Income tax expense | ($82.3 m) | $23.8 m | $26.8 m | ($34.9 m) |
Net Income | ($6.9 m) | ($6.9 m) | $60.3 m | $68 m |
| Y, 2013 | Y, 2014 | FY, 2015 | FY, 2016 | |
|---|---|---|---|---|
Cash | $171.7 m | $52.8 m | $50.2 m | $42.6 m |
Accounts Receivable | ||||
Inventories | ||||
Goodwill | $60.9 m | $66.9 m | $66.9 m | |
Total Assets | $1 b | $1.7 b | $1.9 b | $2 b |
Accounts Payable | $17.1 m | $51.8 m | $75.9 m | $74.3 m |
Total Debt | $78.5 m | $350.4 m | $311.5 m | |
Common Stock | $276 k | $281 k | $284 k | $290 k |
Additional Paid-in Capital | $311.9 m | $409 m | $413.8 m | $419.1 m |
Retained Earnings | $160.6 m | $218 m | $277.7 m | |
Total Equity | $450.8 m | $597.1 m | $671.5 m | $763.4 m |
Debt to Equity Ratio | 0.1 x | 0.5 x | 0.4 x | |
Debt to Assets Ratio | 0 x | 0.2 x | 0.2 x | |
Financial Leverage | 2.2 x | 2.8 x | 2.9 x | 2.6 x |
| FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | |
|---|---|---|---|---|
Net Income | ($6.9 m) | ($6.9 m) | $60.3 m | $68 m |
Depreciation and Amortization | $6.6 m | ($957 k) | ||
Accounts Receivable | ||||
Inventories | ||||
Accounts Payable | $7.7 m | $7.7 m | $24.1 m | ($1.6 m) |
Cash From Operating Activities | $50 m | $50 m | ($172.9 m) | $21.7 m |
Purchases of PP&E | ($312 k) | ($312 k) | ($4.8 m) | ($1 m) |
Cash From Investing Activities | ($33.5 m) | ($33.5 m) | ($5.8 m) | $5.2 m |
Short-term Borrowings | ($73.7 m) | ($73.7 m) | ($58.2 m) | ($147.9 m) |
Dividends Paid | ($1.7 m) | ($1.7 m) | ||
Cash From Financing Activities | ($25.9 m) | ($25.9 m) | $176.1 m | ($34.5 m) |
Income Taxes Paid | $25 m | $16.5 m |
| Y, 2016 | |
|---|---|
EV/EBIT | 10.7 x |
EV/CFO | 46.4 x |
Debt/Equity | 0.4 x |
Debt/Assets | 0.2 x |
Financial Leverage | 2.6 x |
