Cavco Industries (CVCO) financial statements
Cavco Industries reported revenue of $2.2B in fiscal 2026, up 12.6% a year over 9 years.
Net income was $191M and the operating margin 10.2%, against 7.3% in 2017.
Free cash flow was $232M, and the company returned $160M in net buybacks.
The diluted share count fell 13% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cavco Industries's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $774M | $871M | $963M | $1.1B | $1.1B | $1.6B | $2.1B | $1.8B | $2.0B | $2.2B |
| Cost of revenue | $616M | $691M | $757M | $831M | $869M | $1.2B | $1.6B | $1.4B | $1.5B | $1.7B |
| Gross profit | $158M | $181M | $206M | $231M | $239M | $409M | $555M | $427M | $466M | $527M |
| Selling, general and admin | $101M | $107M | $122M | $146M | $150M | $206M | $258M | $248M | $275M | $298M |
| Operating income | $57M | $74M | $84M | $85M | $89M | $202M | $297M | $179M | $190M | $229M |
| Interest expense | $4M | $4M | $3M | $1M | $738,000 | $702,000 | $910,000 | $2M | $517,000 | $541,000 |
| Pre-tax income | $55M | $79M | $87M | $93M | $97M | $212M | $307M | $199M | $211M | $245M |
| Income tax | $17M | $17M | $18M | $18M | $20M | $14M | $66M | $41M | $40M | $54M |
| Net income | $38M | $62M | $69M | $75M | $77M | $198M | $241M | $158M | $171M | $191M |
| EPS (diluted) | $4.17 | $6.68 | $7.40 | $8.10 | $8.25 | $21.34 | $26.95 | $18.37 | $20.71 | $23.98 |
| Diluted shares | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 8M | 8M |
| Gross margin | 20.4% | 20.7% | 21.4% | 21.7% | 21.6% | 25.1% | 25.9% | 23.8% | 23.1% | 23.5% |
| Operating margin | 7.3% | 8.5% | 8.7% | 8.0% | 8.0% | 12.4% | 13.8% | 10.0% | 9.4% | 10.2% |
| Net margin | 4.9% | 7.1% | 7.1% | 7.1% | 6.9% | 12.1% | 11.2% | 8.8% | 8.5% | 8.5% |
Balance sheet
Fiscal years, from Cavco Industries's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $144M | $199M | $200M | $256M | $342M | $264M | $286M | $371M | $376M | $253M |
| Receivables | $29M | $35M | $41M | $43M | $47M | $96M | $89M | $77M | $106M | $108M |
| Inventory | $94M | $109M | $116M | $114M | $131M | $244M | $263M | $241M | $253M | $296M |
| Total current assets | $357M | $419M | $462M | $516M | $652M | $744M | $805M | $852M | $910M | $825M |
| Property, plant and equipment | $57M | $63M | $63M | $77M | $97M | $164M | $228M | $224M | $228M | $279M |
| Goodwill | — | — | $73M | $75M | $75M | $101M | $115M | $122M | $122M | $209M |
| Total assets | $607M | $675M | $725M | $810M | $952M | $1.2B | $1.3B | $1.4B | $1.4B | $1.5B |
| Total current liabilities | $140M | $176M | $174M | $172M | $237M | $294M | $293M | $273M | $303M | $335M |
| Total liabilities | $213M | $218M | $196M | $203M | $268M | $325M | $332M | $321M | $342M | $388M |
| Shareholders' equity | $394M | $457M | $530M | $608M | $684M | $830M | $976M | $1.0B | $1.1B | $1.1B |
| Net debt | -$133M | -$187M | -$187M | -$242M | -$322M | -$244M | -$271M | -$353M | -$356M | -$237M |
Cash flow
Fiscal years, from Cavco Industries's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $46M | $59M | $33M | $102M | $114M | $144M | $256M | $225M | $178M | $267M |
| Capital spending | $5M | $8M | $8M | $14M | $26M | $19M | $44M | $17M | $21M | $35M |
| Free cash flow | $40M | $51M | $25M | $87M | $88M | $126M | $212M | $207M | $157M | $232M |
| Stock-based compensation | $2M | $2M | $3M | $4M | $4M | $5M | $6M | $7M | $9M | $13M |
| Share buybacks (net) | — | — | $0 | $0 | -$1M | -$60M | -$103M | -$109M | -$149M | -$160M |
| Free cash flow margin | 5.2% | 5.8% | 2.6% | 8.2% | 8.0% | 7.7% | 9.9% | 11.5% | 7.8% | 10.3% |
Questions
What was Cavco Industries's revenue in 2026?
$2.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does Cavco Industries generate?
$232M in fiscal 2026 (operating cash flow minus capital spending).
From Cavco Industries's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.