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Residential construction · Consumer Cyclical · Fiscal year ends Mar 29
Champion Homes reported revenue of $2.7B in the fiscal year ended Mar 2026, up 7.3% from the year before. Operating income was $252M, an operating margin of 9.5%, and net income was $207M. Operating cash flow of $304M less capital expenditure of $34M left free cash flow of $270M. It held more cash than debt (net cash $614M).
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 | 2,207 | 2,607 | 2,025 | 2,483 | 2,664 |
| Cost of revenue | 1,618 | 1,788 | 1,539 | 1,819 | 1,959 |
| Gross profit | 589 | 819 | 486 | 664 | 704 |
| Selling, general & admin | 256 | 300 | 311 | 427 | 453 |
| Operating income | 333 | 518 | 175 | 237 | 252 |
| Interest expense | 3.2 | 3.3 | 4.6 | 8.5 | 7.5 |
| Pre-tax income | 330 | 534 | 201 | 257 | 271 |
| Income tax | 82.4 | 132 | 47.1 | 53.7 | 56.8 |
| Net income | 248 | 402 | 147 | 198 | 207 |
| Diluted EPS | 4.33 | 7.00 | 2.53 | 3.42 | 3.66 |
| Diluted shares | 57.3 | 57.4 | 58.0 | 58.1 | 56.5 |
| Fiscal year | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 435 | 747 | 495 | 610 | 638 |
| Receivables | 90.5 | 67.3 | 64.6 | 84.1 | 88.8 |
| Inventory | 241 | 202 | 319 | 361 | 358 |
| Current assets | 782 | 1,043 | 918 | 1,086 | 1,128 |
| Net PP&E | 133 | 177 | 291 | 307 | 314 |
| Goodwill | 192 | 197 | 358 | 358 | 365 |
| Total assets | 1,235 | 1,563 | 1,923 | 2,110 | 2,132 |
| Payables | 92.2 | 44.7 | 50.8 | 65.1 | 70.5 |
| Current liabilities | 350 | 249 | 390 | 451 | 455 |
| Short-term debt | – | – | – | 0.0 | 9.3 |
| Long-term debt | 12.4 | 12.4 | 24.7 | 24.8 | 14.4 |
| Total liabilities | 410 | 330 | 501 | 566 | 559 |
| Shareholders' equity | 825 | 1,233 | 1,422 | 1,544 | 1,573 |
| Fiscal year | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 224 | 416 | 223 | 241 | 304 |
| Capital expenditure | 32.0 | 52.2 | 52.9 | 50.5 | 34.1 |
| Free cash flow | 193 | 364 | 170 | 190 | 270 |
| Depreciation & amortisation | 20.9 | 26.7 | 34.9 | 41.9 | 47.8 |
| Stock-based compensation | 9.8 | 14.2 | 19.6 | 18.3 | 20.9 |
| Acquisitions | 0.2 | 6.8 | 283 | 0.0 | 27.3 |
| Share buybacks | – | 0.0 | 0.0 | 80.0 | 200 |
| Fiscal year | Apr 2022 | Apr 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 18.1% | −22.3% | 22.7% | 7.3% |
| Operating income growth (YoY) | – | 55.7% | −66.2% | 35.3% | 6.2% |
| EPS growth (YoY) | – | 61.7% | −63.9% | 35.2% | 7.0% |
| Gross margin | 26.7% | 31.4% | 24.0% | 26.7% | 26.4% |
| Operating margin | 15.1% | 19.9% | 8.7% | 9.5% | 9.5% |
| Net margin | 11.2% | 15.4% | 7.2% | 8.0% | 7.8% |
| Return on equityBlank when equity is negative | 30.1% | 32.6% | 10.3% | 12.8% | 13.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 37.6% | 39.4% | 11.4% | 14.3% | 15.0% |
| Free cash flow margin | 8.7% | 14.0% | 8.4% | 7.7% | 10.1% |
| Cash conversion (CFO ÷ net income) | 0.90x | 1.04x | 1.52x | 1.21x | 1.47x |
| Receivable days | 15 | 9 | 12 | 12 | 12 |
| Inventory days | 54 | 41 | 76 | 72 | 67 |
| Payable days | 21 | 9 | 12 | 13 | 13 |
| Interest cover | 103x | 158x | 38.0x | 28.0x | 33.4x |
| Debt ÷ equity | 0.02x | 0.01x | 0.02x | 0.02x | 0.02x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −423 | −735 | −470 | −586 | −614 |
| Current ratio | 2.23x | 4.19x | 2.36x | 2.41x | 2.48x |
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.