Loading financials from SEC filings…
Residential construction · Consumer Cyclical · Fiscal year ends Mar 28
Cavco Industries reported revenue of $2.2B in the fiscal year ended Mar 2026, up 11.4% from the year before. Operating income was $229M, an operating margin of 10.2%, and net income was $191M. Operating cash flow of $267M less capital expenditure of $35M left free cash flow of $232M. It held more cash than debt (net cash $229M).
Ranks among the 13 residential construction companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 1,627 | 2,143 | 1,795 | 2,015 | 2,245 |
| Cost of revenue | 1,218 | 1,588 | 1,368 | 1,550 | 1,718 |
| Gross profit | 409 | 555 | 427 | 466 | 527 |
| Selling, general & admin | 206 | 258 | 248 | 275 | 298 |
| Operating income | 202 | 297 | 179 | 190 | 229 |
| Interest expense | 0.7 | 0.9 | 1.6 | 0.5 | 0.5 |
| Pre-tax income | 212 | 307 | 199 | 211 | 245 |
| Income tax | 14.2 | 65.9 | 41.3 | 40.0 | 54.1 |
| Net income | 198 | 241 | 158 | 171 | 191 |
| Diluted EPS | 21.34 | 26.95 | 18.37 | 20.71 | 23.98 |
| Diluted shares | 9.3 | 8.9 | 8.6 | 8.3 | 7.9 |
| Fiscal year | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 244 | 271 | 353 | 356 | 237 |
| Receivables | 96.1 | 89.3 | 77.1 | 106 | 108 |
| Inventory | 244 | 263 | 241 | 253 | 296 |
| Current assets | 744 | 805 | 852 | 910 | 825 |
| Net PP&E | 164 | 228 | 224 | 228 | 279 |
| Goodwill | 101 | 115 | 122 | 122 | 209 |
| Total assets | 1,155 | 1,308 | 1,354 | 1,407 | 1,491 |
| Payables | 43.1 | 30.7 | 33.5 | 37.2 | 44.2 |
| Deferred revenue | 56.3 | 45.2 | 40.9 | 46.9 | 54.1 |
| Current liabilities | 294 | 293 | 273 | 303 | 335 |
| Long-term debt | 11.6 | 10.9 | 8.1 | 7.7 | 7.4 |
| Total liabilities | 325 | 332 | 321 | 342 | 388 |
| Shareholders' equity | 830 | 976 | 1,033 | 1,065 | 1,103 |
| Fiscal year | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 144 | 256 | 225 | 178 | 267 |
| Capital expenditure | 18.7 | 44.1 | 17.4 | 21.4 | 35.4 |
| Free cash flow | 126 | 212 | 207 | 157 | 232 |
| Depreciation & amortisation | 11.0 | 16.9 | 18.5 | 19.3 | 23.0 |
| Stock-based compensation | 5.1 | 6.3 | 6.8 | 8.7 | 12.8 |
| Acquisitions | 141 | 106 | 19.2 | 0.0 | 173 |
| Share buybacks | 59.6 | 103 | 109 | 149 | 160 |
| Fiscal year | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 31.7% | −16.2% | 12.3% | 11.4% |
| Operating income growth (YoY) | – | 46.5% | −39.7% | 6.3% | 20.1% |
| EPS growth (YoY) | – | 26.3% | −31.8% | 12.7% | 15.8% |
| Gross margin | 25.1% | 25.9% | 23.8% | 23.1% | 23.5% |
| Operating margin | 12.4% | 13.8% | 10.0% | 9.4% | 10.2% |
| Net margin | 12.1% | 11.2% | 8.8% | 8.5% | 8.5% |
| Return on equityBlank when equity is negative | 23.8% | 24.6% | 15.3% | 16.1% | 17.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 23.5% | 29.2% | 16.6% | 17.2% | 19.8% |
| Free cash flow margin | 7.7% | 9.9% | 11.5% | 7.8% | 10.3% |
| Cash conversion (CFO ÷ net income) | 0.73x | 1.06x | 1.42x | 1.04x | 1.40x |
| Receivable days | 22 | 15 | 16 | 19 | 18 |
| Inventory days | 73 | 60 | 64 | 60 | 63 |
| Payable days | 13 | 7 | 9 | 9 | 9 |
| Interest cover | 288x | 326x | 109x | 368x | 422x |
| Debt ÷ equity | 0.01x | 0.01x | 0.01x | 0.01x | 0.01x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −233 | −261 | −345 | −349 | −229 |
| Current ratio | 2.53x | 2.74x | 3.12x | 3.00x | 2.46x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.