CVCO Consumer Cyclical

Cavco Industries, Inc.

$648.27-2.21%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Consumer Cyclical
Industry: Residential Construction
Country: United States
Market cap: 5.0B USD
Enterprise value: 3.8B USD
Full-time employees: 7,700

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.27 vs a peer median of 0.63)bigger price swings (beta 1.27 vs peers 0.63)
About average: growth and risk (debt, liquidity and share-price swings)growth and risk

Ranks #550 of 1,502 consumer cyclical companies (top 37%)

See how it ranks against its peers

Worth knowing

Profit below an unusually strong FY Mar 2023. Since FY Mar 2023 (an unusually strong year for operating profit): revenue +4.8%, operating profit −23%.Since FY Mar 2023: revenue +4.8%, operating profit −23%.
Since FY Mar 2023, Cavco Industries's revenue changed +4.8% while operating profit fell 23%: costs rose faster than sales.
Share count shrinking. Shares outstanding down 11% from April 2023 to July 2026.
Cavco Industries had 11% fewer shares at July 2026 than at April 2023, mainly through buybacks, so each remaining share owns a larger slice of the business.
Profit is backed by cash. Free cash flow is 129% of reported profit.
Cavco Industries's free cash flow is 129% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Little borrowing. Debt is 0.01× equity vs a peer median of 0.5×.Debt is 0.01× equity vs peers 0.5×.
Cavco Industries has among the least debt in its peer group relative to shareholders' equity.

StockQuotient Score

58/ 100▼ 2 since Oct 27 close

Oct 5 59 → Nov 4 58 (-1)

Valuation

Is the price right?

31/100

Weak▼ 8 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 39 → 31

Share price +20.2%-7
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.6%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.23Sector median: 0.0439 · MAD: 0.0329

EBITDA yield5.2%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.77Sector median: 0.0877 · MAD: 0.0461

Free cash flow yield4.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.26Sector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield22.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

56/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.4%

Why

Helped by:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-0.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.19Sector median: 0.0420 · MAD: 0.2537

3-year revenue growth4.2%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.01Sector median: 0.0425 · MAD: 0.0636

Revenue growth9.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.91Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

86/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin9.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.70Sector median: 0.0638 · MAD: 0.0461

Return on assets11.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 3.34Sector median: 0.0331 · MAD: 0.0254

Return on invested capital20.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.11Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin23.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equity16.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Debt / equity
▲ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.27

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.13Sector median: 0.6345 · MAD: 0.2980

Current ratio2.23×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.34Sector median: 1.4800 · MAD: 0.5570

Debt / equity0.01×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score 1.27Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Cavco Industries

Is Cavco Industries getting weaker?: Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is 58/100, down 2 since Oct 28, 2026.
How is Cavco Industries valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 31/100 against 1,612 consumer cyclical peers. EBITDA yield 5.2% vs a peer median of 8.8% (weaker than 72% of peers).EBITDA yield 5.2% vs peers 8.8% (weaker than 72% of peers).
Is Cavco Industries growing?: At about the same pace as its peers. Growth scores 56/100 against 1,612 consumer cyclical peers. Revenue growth 9.7% vs a peer median of 3.7% (stronger than 73% of peers).Revenue growth 9.7% vs peers 3.7% (stronger than 73% of peers).
How profitable is Cavco Industries?: More profitable than most of its peers. Profitability scores 86/100 against 1,612 consumer cyclical peers. Return on assets 11.8% vs a peer median of 3.3% (stronger than 93% of peers).Return on assets 11.8% vs peers 3.3% (stronger than 93% of peers).
How risky is Cavco Industries?: Moderate risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Debt / equity 0.01× vs a peer median of 0.46× (stronger than 95% of peers).Debt / equity 0.01× vs peers 0.46× (stronger than 95% of peers). Beta 1.27 vs a peer median of 0.63 (weaker than 85% of peers).Beta 1.27 vs peers 0.63 (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 27, 2026 · filed Jul 31, 2026 · compared with the quarter ended Mar 28, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.2B USD	2.3B USD	+2.4%
Net income (12 months)	191.2M USD	181.8M USD	−4.9%
Operating margin	10.2%	9.6%	−0.6 pts
Free cash flow (12 months)	232.1M USD	234.7M USD	+1.1%
Debt	7.4M USD	7.4M USD	0.0%
Cash	236.7M USD	243.2M USD	+2.7%
Shares outstanding	7.7M	7.7M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Cyclical · 182 companies

Valuations in Consumer Cyclical are within their usual range since 2016.

36% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +0% and earnings +10% (medians): prices and earnings moved broadly together.
Median price-to-sales is −55% vs the whole market, against a usual −41%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Cyclical: too few Residential Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Mar 2022	FY Mar 2023	FY Mar 2024	FY Mar 2025	FY Mar 2026	Change
Gross margin	25.1%	25.9%	23.8%	23.1%	23.5%	▲ 0.4 pts
Operating margin	12.4%	13.8%	10.0%	9.4%	10.2%	▲ 0.7 pts
Net margin	12.1%	11.2%	8.8%	8.5%	8.5%	▲ 0.0 pts
Return on assets (ROA)	17.1%	18.4%	11.7%	12.2%	12.8%	▲ 0.6 pts
Return on equity (ROE)	23.8%	24.6%	15.3%	16.1%	17.3%	▲ 1.2 pts
Free cash flow margin	7.7%	9.9%	11.5%	7.8%	10.3%	▲ 2.5 pts
Current ratio	2.53×	2.74×	3.12×	3.00×	2.46×	▼ 18%
Quick ratio	1.70×	1.85×	2.23×	2.17×	1.58×	▼ 27%
Debt to equity	0.01×	0.01×	0.01×	0.01×	0.01×	▼ 6.6%
Interest coverage	288.46×	325.94×	108.54×	368.04×	422.49×	▲ 15%

CVCO price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.27 vs a peer median of 0.63)bigger price swings (beta 1.27 vs peers 0.63)

About average: growth and risk (debt, liquidity and share-price swings)growth and risk

Ranks #550 of 1,502 consumer cyclical companies (top 37%)

See how it ranks against its peers

Worth knowing

Profit below an unusually strong FY Mar 2023. Since FY Mar 2023 (an unusually strong year for operating profit): revenue +4.8%, operating profit −23%.Since FY Mar 2023: revenue +4.8%, operating profit −23%.

Since FY Mar 2023, Cavco Industries's revenue changed +4.8% while operating profit fell 23%: costs rose faster than sales.

Share count shrinking. Shares outstanding down 11% from April 2023 to July 2026.

Cavco Industries had 11% fewer shares at July 2026 than at April 2023, mainly through buybacks, so each remaining share owns a larger slice of the business.

Profit is backed by cash. Free cash flow is 129% of reported profit.

Cavco Industries's free cash flow is 129% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Little borrowing. Debt is 0.01× equity vs a peer median of 0.5×.Debt is 0.01× equity vs peers 0.5×.

Cavco Industries has among the least debt in its peer group relative to shareholders' equity.

Questions investors ask about Cavco Industries

Is Cavco Industries getting weaker?

Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is 58/100, down 2 since Oct 28, 2026.

How is Cavco Industries valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 31/100 against 1,612 consumer cyclical peers. EBITDA yield 5.2% vs a peer median of 8.8% (weaker than 72% of peers).EBITDA yield 5.2% vs peers 8.8% (weaker than 72% of peers).

Is Cavco Industries growing?

At about the same pace as its peers. Growth scores 56/100 against 1,612 consumer cyclical peers. Revenue growth 9.7% vs a peer median of 3.7% (stronger than 73% of peers).Revenue growth 9.7% vs peers 3.7% (stronger than 73% of peers).

How profitable is Cavco Industries?

More profitable than most of its peers. Profitability scores 86/100 against 1,612 consumer cyclical peers. Return on assets 11.8% vs a peer median of 3.3% (stronger than 93% of peers).Return on assets 11.8% vs peers 3.3% (stronger than 93% of peers).

How risky is Cavco Industries?

Moderate risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Debt / equity 0.01× vs a peer median of 0.46× (stronger than 95% of peers).Debt / equity 0.01× vs peers 0.46× (stronger than 95% of peers). Beta 1.27 vs a peer median of 0.63 (weaker than 85% of peers).Beta 1.27 vs peers 0.63 (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.2B USD

2.3B USD

+2.4%

Net income (12 months)

191.2M USD

181.8M USD

−4.9%

Operating margin

10.2%

9.6%

−0.6 pts

Free cash flow (12 months)

232.1M USD

234.7M USD

+1.1%

Debt

7.4M USD

7.4M USD

0.0%

Cash

236.7M USD

243.2M USD

+2.7%

Shares outstanding

7.7M

7.7M

+0.1%

Key ratios

FY Mar 2022

FY Mar 2023

FY Mar 2024

FY Mar 2025

FY Mar 2026

Change

Gross margin

25.1%

25.9%

23.8%

23.1%

23.5%

▲ 0.4 pts

Operating margin

12.4%

13.8%

10.0%

9.4%

10.2%

▲ 0.7 pts

Net margin

12.1%

11.2%

8.8%

8.5%

▲ 0.0 pts

Return on assets (ROA)

17.1%

18.4%

11.7%

12.2%

12.8%

▲ 0.6 pts

Return on equity (ROE)

23.8%

24.6%

15.3%

16.1%

17.3%

▲ 1.2 pts

Free cash flow margin

7.7%

9.9%

11.5%

7.8%

10.3%

▲ 2.5 pts

Current ratio

2.53×

2.74×

3.12×

3.00×

2.46×

▼ 18%

Quick ratio

1.70×

1.85×

2.23×

2.17×

1.58×

▼ 27%

Debt to equity

0.01×

▼ 6.6%

Interest coverage

288.46×

325.94×

108.54×

368.04×

422.49×

▲ 15%