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Mobile homes company · IN · FY ends Mar · Revenue $2.66B · 9.45% margin · $270M FCF
$71.79
+$0.79 (+1.11%)
Price from 8 days ago
Operating margin is thin at 9.45%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 7.3%, steady but not accelerating.
Even for strong businesses, today's 20x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
19.6x earnings, 15.0x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$2.66B
▲ +7.3% YoY
Net Income (TTM)
$207M
▲ +4.3% YoY
Op. Margin
9.45%
ROIC
12.09%
▲ +0.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$270M
▲ +41.7% YoY
Op. Cash Flow (TTM)
$304M
▲ +26.2% YoY
Net Debt
-$587M
Net Cash Position
Cash & Equiv.
$638M
5Y CAGR: +13.4%
5Y CAGR: +13.1%
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