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CAVCO INDUSTRIES, INC.

CVCO Clue Score74
United States Fiscal year ends March CIK 0000278166
$532.43 -2.97% Close, 9 Oct 2026
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Price $532.43 +127.94% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue773.8Operating income56.8Net income38.0EPS, diluted4.17Fiscal year 2018Revenue871.2 +12.6%Operating income73.8Net income61.5 +62.0%EPS, diluted6.68 +60.2%Fiscal year 2019Revenue962.7 +10.5%Operating income84.1Net income68.6 +11.6%EPS, diluted7.40 +10.8%Fiscal year 2020Revenue1,061.8 +10.3%Operating income84.9Net income75.1 +9.4%EPS, diluted8.10 +9.5%Fiscal year 2021Revenue1,108.1 +4.4%Operating income88.8Net income76.6 +2.1%EPS, diluted8.25 +1.9%Fiscal year 2022Revenue1,627.2 +46.8%Operating income202.5Net income197.7 +157.9%EPS, diluted21.34 +158.7%Fiscal year 2023Revenue2,142.7 +31.7%Operating income296.6Net income240.6 +21.7%EPS, diluted26.95 +26.3%Fiscal year 2024Revenue1,794.8 −16.2%Operating income179.0Net income157.8 −34.4%EPS, diluted18.37 −31.8%Fiscal year 2025Revenue2,015.5 +12.3%Operating income190.3Net income171.0 +8.4%EPS, diluted20.71 +12.7%Fiscal year 2026Revenue2,244.5 +11.4%Operating income228.6Net income190.6 +11.4%EPS, diluted23.98 +15.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 773.8 871.2 962.7 1,061.8 1,108.1 1,627.2 2,142.7 1,794.8 2,015.5 2,244.5
Growth +12.6% +10.5% +10.3% +4.4% +46.8% +31.7% −16.2% +12.3% +11.4%
Operating income 56.8 73.8 84.1 84.9 88.8 202.5 296.6 179.0 190.3 228.6
Net income 38.0 61.5 68.6 75.1 76.6 197.7 240.6 157.8 171.0 190.6
Growth +62.0% +11.6% +9.4% +2.1% +157.9% +21.7% −34.4% +8.4% +11.4%
EPS, diluted 4.17 6.68 7.40 8.10 8.25 21.34 26.95 18.37 20.71 23.98
Growth +60.2% +10.8% +9.5% +1.9% +158.7% +26.3% −31.8% +12.7% +15.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin20.4%Operating margin7.3%Net margin4.9%Free cash flow margin5.2%Fiscal year 2018Gross margin20.7%Operating margin8.5%Net margin7.1%Free cash flow margin5.8%Fiscal year 2019Gross margin21.4%Operating margin8.7%Net margin7.1%Free cash flow margin2.6%Fiscal year 2020Gross margin21.7%Operating margin8.0%Net margin7.1%Free cash flow margin8.2%Fiscal year 2021Gross margin21.6%Operating margin8.0%Net margin6.9%Free cash flow margin8.0%Fiscal year 2022Gross margin25.1%Operating margin12.4%Net margin12.1%Free cash flow margin7.7%Fiscal year 2023Gross margin25.9%Operating margin13.8%Net margin11.2%Free cash flow margin9.9%Fiscal year 2024Gross margin23.8%Operating margin10.0%Net margin8.8%Free cash flow margin11.5%Fiscal year 2025Gross margin23.1%Operating margin9.4%Net margin8.5%Free cash flow margin7.8%Fiscal year 2026Gross margin23.5%Operating margin10.2%Net margin8.5%Free cash flow margin10.3%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
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%
Free cash flow margin 5.2% 5.8% 2.6% 8.2% 8.0% 7.7% 9.9% 11.5% 7.8% 10.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow45.8Capital expenditure−5.3Free cash flow40.5Fiscal year 2018Operating cash flow59.0Capital expenditure−8.4Free cash flow50.6 +24.9%Fiscal year 2019Operating cash flow32.8Capital expenditure−7.6Free cash flow25.2 −50.2%Buybacks0.0Fiscal year 2020Operating cash flow101.7Capital expenditure−14.3Free cash flow87.4 +246.8%Buybacks0.0Fiscal year 2021Operating cash flow114.0Capital expenditure−25.5Free cash flow88.5 +1.3%Buybacks−1.4Fiscal year 2022Operating cash flow144.2Capital expenditure−18.7Free cash flow125.6 +41.9%Buybacks−59.6Fiscal year 2023Operating cash flow255.7Capital expenditure−44.1Free cash flow211.6 +68.5%Buybacks−103.4Fiscal year 2024Operating cash flow224.7Capital expenditure−17.4Free cash flow207.3 −2.0%Buybacks−109.3Fiscal year 2025Operating cash flow178.5Capital expenditure−21.4Free cash flow157.1 −24.2%Buybacks−148.7Fiscal year 2026Operating cash flow267.5Capital expenditure−35.4Free cash flow232.1 +47.8%Buybacks−159.9
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 45.8 59.0 32.8 101.7 114.0 144.2 255.7 224.7 178.5 267.5
Capital expenditure −5.3 −8.4 −7.6 −14.3 −25.5 −18.7 −44.1 −17.4 −21.4 −35.4
Free cash flow 40.5 50.6 25.2 87.4 88.5 125.6 211.6 207.3 157.1 232.1
Growth +24.9% −50.2% +246.8% +1.3% +41.9% +68.5% −2.0% −24.2% +47.8%
Buybacks n/a n/a 0.0 0.0 −1.4 −59.6 −103.4 −109.3 −148.7 −159.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2017Cash132.5Shareholders’ equity394.4Fiscal year 2018Cash186.8Shareholders’ equity457.1Fiscal year 2019Cash187.4Shareholders’ equity529.6Fiscal year 2020Cash241.8Shareholders’ equity607.6Fiscal year 2021Cash322.3Shareholders’ equity683.6Fiscal year 2022Cash244.2Shareholders’ equity830.5Fiscal year 2023Cash271.4Shareholders’ equity976.3Fiscal year 2024Cash352.7Shareholders’ equity1,033.4Fiscal year 2025Cash356.2Shareholders’ equity1,064.6Fiscal year 2026Cash236.7Shareholders’ equity1,103.2
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 132.5 186.8 187.4 241.8 322.3 244.2 271.4 352.7 356.2 236.7
Shareholders’ equity 394.4 457.1 529.6 607.6 683.6 830.5 976.3 1,033.4 1,064.6 1,103.2

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 1 Apr 2017 FY2018 31 Mar 2018 FY2019 30 Mar 2019 FY2020 28 Mar 2020 FY2021 3 Apr 2021 FY2022 2 Apr 2022 FY2023 1 Apr 2023 FY2024 30 Mar 2024 FY2025 29 Mar 2025 FY2026 28 Mar 2026
Revenue and profit
773.8 871.2 962.7 1,061.8 1,108.1 1,627.2 2,142.7 1,794.8 2,015.5 2,244.5
Growth +12.6% +10.5% +10.3% +4.4% +46.8% +31.7% −16.2% +12.3% +11.4%
615.8 690.6 757.0 831.3 869.1 1,218.4 1,587.8 1,367.9 1,549.9 1,717.6
158.0 180.7 205.7 230.5 239.0 408.7 554.9 426.9 465.6 526.9
Growth +14.3% +13.9% +12.1% +3.7% +71.0% +35.8% −23.1% +9.1% +13.2%
101.2 106.9 121.6 145.6 150.2 206.3 258.3 247.9 275.3 298.3
56.8 73.8 84.1 84.9 88.8 202.5 296.6 179.0 190.3 228.6
Growth +29.9% +14.0% +0.9% +4.6% +128.0% +46.5% −39.7% +6.3% +20.1%
55.3 78.5 86.7 93.0 96.9 212.0 306.8 199.2 211.1 244.7
17.3 17.0 18.1 17.9 20.3 14.2 65.9 41.3 40.0 54.1
38.0 61.5 68.6 75.1 76.6 197.7 240.6 157.8 171.0 190.6
Growth +62.0% +11.6% +9.4% +2.1% +157.9% +21.7% −34.4% +8.4% +11.4%
Per share
4.23 6.82 7.56 8.22 8.34 21.54 27.20 18.55 20.97 24.26
4.17 6.68 7.40 8.10 8.25 21.34 26.95 18.37 20.71 23.98
Growth +60.2% +10.8% +9.5% +1.9% +158.7% +26.3% −31.8% +12.7% +15.8%
9.0 9.0 9.1 9.1 9.2 9.2 8.8 8.5 8.2 7.9
9.1 9.2 9.3 9.3 9.3 9.3 8.9 8.6 8.3 7.9
Growth +1.1% +0.7% +0.0% +0.3% −0.3% −3.7% −3.7% −3.9% −3.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 15.2% a year over five years, and earnings per share grew 23.8% a year.
  • The diluted share count fell 14.5% in five years, so buybacks did some of the work per share.
  • Operating margin is up 2.2 points on five years ago, at 10.2%.
  • Profitable in every one of the 10 years on file.