Loading financials from SEC filings…
Residential construction · Consumer Cyclical · Fiscal year ends Dec 31
Green Brick Partners reported revenue of $2B in the fiscal year ended Dec 2025, down 1.0% from the year before. Operating income was $438M, an operating margin of 21.5%, and net income was $313M. Operating cash flow of $213M less capital expenditure of $5M left free cash flow of $208M. Net debt was $169M.
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 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,403 | 1,758 | 1,749 | 2,061 | 2,040 |
| Cost of revenue | 1,041 | 1,235 | 1,201 | 1,358 | 1,399 |
| Gross profit | 362 | 523 | 548 | 704 | 641 |
| Selling, general & admin | 134 | 164 | 193 | 227 | 231 |
| Operating incomederived: pre-tax income + interest | 257 | 396 | 391 | 512 | 438 |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Pre-tax income | 257 | 396 | 391 | 512 | 438 |
| Income tax | 52.6 | 82.5 | 84.6 | 94.7 | 94.7 |
| Net income | 190 | 292 | 285 | 382 | 313 |
| Diluted EPS | 3.72 | 6.02 | 6.14 | 8.45 | 7.07 |
| Diluted shares | 51.1 | 48.0 | 45.9 | 44.8 | 43.9 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 77.2 | 76.6 | 180 | 142 | 155 |
| Net PP&E | 2.8 | 2.9 | 7.1 | 6.6 | 6.3 |
| Goodwill | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |
| Total assets | 1,422 | 1,656 | 1,903 | 2,250 | 2,535 |
| Deferred revenue | 64.6 | 29.1 | 43.1 | 37.1 | 25.7 |
| Long-term debt | 340 | 372 | 350 | 340 | 323 |
| Total liabilities | 511 | 544 | 549 | 552 | 602 |
| Shareholders' equity | 875 | 1,062 | 1,301 | 1,625 | 1,859 |
| Backlog (remaining obligations) | 8.9 | 7.0 | 3.0 | 12.4 | 7.5 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −92.4 | 90.7 | 213 | 25.9 | 213 |
| Capital expenditure | 2.0 | 2.0 | 7.8 | 4.4 | 4.8 |
| Free cash flow | −94.4 | 88.7 | 206 | 21.5 | 208 |
| Depreciation & amortisation | 2.7 | 2.4 | 3.5 | 4.9 | 5.1 |
| Stock-based compensation | 3.1 | 3.5 | 6.8 | 8.4 | 12.3 |
| Share buybacks | 0.0 | 101 | 45.8 | 48.4 | 83.8 |
| Dividends paid | 0.0 | 2.8 | 2.9 | 2.9 | 2.9 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 25.3% | −0.5% | 17.8% | −1.0% |
| Operating income growth (YoY) | – | 54.3% | −1.3% | 30.8% | −14.4% |
| EPS growth (YoY) | – | 61.8% | 2.0% | 37.6% | −16.3% |
| Gross margin | 25.8% | 29.8% | 31.3% | 34.1% | 31.4% |
| Operating margin | 18.3% | 22.6% | 22.4% | 24.8% | 21.5% |
| Net margin | 13.6% | 16.6% | 16.3% | 18.5% | 15.4% |
| Return on equityBlank when equity is negative | 21.7% | 27.5% | 21.9% | 23.5% | 16.8% |
| Free cash flow margin | −6.7% | 5.0% | 11.7% | 1.0% | 10.2% |
| Cash conversion (CFO ÷ net income) | −0.49x | 0.31x | 0.75x | 0.07x | 0.68x |
| Debt ÷ equity | 0.39x | 0.35x | 0.27x | 0.21x | 0.17x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 262 | 295 | 171 | 198 | 169 |
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.