Cavco Industries
Builds factory-built homes with lending and insurance for manufactured-home buyers.
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Profile
Designs and manufactures manufactured and modular homes, park model RVs, cabins, and commercial structures, selling through independent distributors and owned retail stores. Factory-built housing supplies most revenue, with CountryPlace lending and Standard Casualty insurance extending the business into buyer financing and property coverage.
Designs and produces manufactured homes, modular homes, park model RVs, vacation cabins, and factory-built commercial structures. Homes are assembled on flexible production lines in the United States and Mexico, then sold across the United States and Canada through independent distributors, company-owned retail stores, planned-community operators, and residential developers. Regional factories and decentralized management support localized designs, customization, and cost-efficient production.
Operates factory-built housing and financial services as two segments. CountryPlace Acceptance originates and services conforming, non-conforming, and home-only loans for factory-built-home buyers, while Standard Casualty writes property-and-casualty insurance mainly for manufactured-home owners. Demand depends on housing affordability, consumer financing, and interest rates; production economics depend on labor, materials, transportation, and efficient factory utilization. Manufactured homes are built to federal HUD standards, while modular construction follows state and local codes.
Company facts
Key statistics
Year to date −3.9% · Average volume (30d) 110.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Aug 6, 2026 | Zelman | Downgrade | Outperform | Neutral | |
| Jun 5, 2026 | UBS | Target | $700 | ||
| Dec 3, 2024 | Wedbush | Downgrade | Outperform | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q1 FY27 | $5.69 | $5.43 | −4.6% | $590.5M | $610.0M | +3.3% | −2.73% |
| May 21, 2026Q4 FY26 | $5.30 | $5.42 | +2.3% | $571.1M | $550.1M | −3.7% | +3.60% |
| Jan 29, 2026Q3 FY26 | $6.00 | $5.58 | −7.0% | $593.4M | $581.0M | −2.1% | −20.32% |
| Oct 30, 2025Q2 FY26 | $6.09 | $6.55 | +7.6% | $542.9M | $556.5M | +2.5% | +5.12% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $508.4M | $556.9M | $556.5M | $581.0M | $550.1M | $610.0M | |
| Gross profit | $116.1M | $129.5M | $134.4M | $135.9M | $127.1M | $134.6M | |
| Operating income | $38.6M | $60.4M | $62.2M | $54.6M | $51.5M | $52.8M | |
| Net income | $36.3M | $51.6M | $52.4M | $44.1M | $42.5M | $42.3M | |
| Diluted EPS | $4.47 | $6.42 | $6.55 | $5.58 | $5.42 | $5.43 | |
| Gross margin | 22.8% | 23.3% | 24.2% | 23.4% | 23.1% | 22.1% | |
| Operating margin | 7.6% | 10.8% | 11.2% | 9.4% | 9.4% | 8.6% |
Fiscal years (4-quarter sums)FY22 $1.63B · FY23 $2.14B · FY24 $1.79B · FY25 $2.02B · FY26 $2.24B
Revenue by product · Q1 FY27
Balance sheet, Jun 27, 2026Cash & short-term investments $261.5M · Total debt $39.8M · Total assets $1.54B · Shareholders' equity $1.11B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 7.71M · Float 7.59M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 1.25M | 16.20% | 13F | Aug 7, 2026 |
| Capital World Investors | 528.2K | 6.85% | 13F | Aug 12, 2026 |
| State Street Corp | 419.2K | 5.44% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 347.6K | 4.51% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 331.2K | 4.30% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Paul Bigbee | officer: Chief Accounting Officer | −342 | $592.00 |
| Jul 30, 2026 | Lisa Lynn Daniels | director | −30 | $569.96 |
| Jun 25, 2026 | Allison Aden | officer: EVP, CFO & Treasurer | −1,473 | $625.00 |
| Jun 12, 2026 | Allison Aden | officer: EVP, CFO & Treasurer | −1,208 | $600.00 |
| Jun 9, 2026 | Richard A. Kerley | director | −500 | $588.76 |
Peers
- Berkshire Hathaway Class B
Clayton sets the scale benchmark in off-site housing
- Champion Homes
Closest public pure-play in factory-built housing
- Legacy Housing
Regional manufactured-home maker with captive financing
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cavco Industries | $571.00 | +0.46% | $4.38B | 24.7 | 23.8 | 1.9 | +9.5% |
| Berkshire Hathaway Class B | $504.99 | −0.00% | $1.09T | 12.7 | 23.2 | 2.8 | +3.0% |
| Champion Homes | $90.22 | +0.07% | $4.95B | 26.4 | 24.4 | 1.9 | +1.3% |
| Legacy Housing | $28.34 | +0.07% | $674.0M | 13.2 | 12.5 | 3.8 | +32.2% |
| Median | 13.2 | 23.2 | 2.8 | +3.0% |