LGI Homes (LGIH) financial statements
LGI Homes reported revenue of $1.7B in fiscal 2025, up 8.2% a year over 9 years.
Net income was $73M and the operating margin 4.7%, against 13.3% in 2016.
Free cash flow was -$141M, and the company returned $24M in net buybacks.
The diluted share count rose 6% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from LGI Homes's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $838M | $1.3B | $1.5B | $1.8B | $2.4B | $3.1B | $2.3B | $2.4B | $2.2B | $1.7B |
| Cost of revenue | $617M | $938M | $1.1B | $1.4B | $1.8B | $2.2B | $1.7B | $1.8B | $1.7B | $1.4B |
| Gross profit | $222M | $320M | $380M | $436M | $603M | $818M | $647M | $542M | $533M | $354M |
| Selling, general and admin | $110M | $151M | $180M | $209M | $238M | $270M | $256M | $309M | $321M | $274M |
| Operating income | $111M | $170M | $200M | $228M | $365M | $548M | $390M | $233M | $212M | $80M |
| Interest expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Pre-tax income | $114M | $171M | $199M | $232M | $368M | $543M | $418M | $262M | $259M | $98M |
| Income tax | $39M | $58M | $44M | $53M | $44M | $113M | $92M | $63M | $63M | $26M |
| Net income | $75M | $113M | $155M | $179M | $324M | $430M | $327M | $199M | $196M | $73M |
| EPS (diluted) | $3.41 | $4.73 | $6.24 | $7.02 | $12.76 | $17.25 | $13.76 | $8.42 | $8.30 | $3.12 |
| Diluted shares | 22M | 24M | 25M | 25M | 25M | 25M | 24M | 24M | 24M | 23M |
| Gross margin | 26.4% | 25.5% | 25.3% | 23.7% | 25.5% | 26.8% | 28.1% | 23.0% | 24.2% | 20.7% |
| Operating margin | 13.3% | 13.5% | 13.3% | 12.4% | 15.4% | 18.0% | 16.9% | 9.9% | 9.6% | 4.7% |
| Net margin | 9.0% | 9.0% | 10.3% | 9.7% | 13.7% | 14.1% | 14.2% | 8.4% | 8.9% | 4.3% |
Balance sheet
Fiscal years, from LGI Homes's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $50M | $68M | $47M | $38M | $36M | $51M | $32M | $49M | $53M | $61M |
| Property, plant and equipment | $2M | $2M | $1M | $2M | $4M | $17M | $33M | $46M | $57M | $107M |
| Goodwill | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M |
| Total assets | $815M | $1.1B | $1.4B | $1.7B | $1.8B | $2.4B | $3.1B | $3.4B | $3.8B | $3.9B |
| Total liabilities | $459M | $590M | $740M | $821M | $687M | $956M | $1.5B | $1.6B | $1.7B | $1.8B |
| Shareholders' equity | $355M | $490M | $656M | $845M | $1.1B | $1.4B | $1.6B | $1.9B | $2.0B | $2.1B |
| Net debt | -$50M | -$68M | -$47M | -$38M | -$36M | -$51M | -$32M | -$49M | -$53M | -$61M |
Cash flow
Fiscal years, from LGI Homes's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$108M | -$68M | -$117M | -$42M | $202M | $22M | -$370M | -$57M | -$144M | -$140M |
| Capital spending | — | — | — | — | — | — | $1M | $1M | $2M | $924,000 |
| Free cash flow | — | — | — | — | — | — | -$372M | -$58M | -$146M | -$141M |
| Stock-based compensation | $3M | $4M | $6M | $8M | $14M | $14M | $9M | $9M | $10M | $6M |
| Share buybacks (net) | $0 | $0 | -$2M | $0 | -$48M | -$194M | -$95M | $0 | -$31M | -$24M |
| Free cash flow margin | — | — | — | — | — | — | -16.1% | -2.5% | -6.6% | -8.3% |
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Open LGIH in InvestinglyQuestions
What was LGI Homes's revenue in 2025?
$1.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does LGI Homes generate?
-$141M in fiscal 2025 (operating cash flow minus capital spending).
From LGI Homes's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.