Tri Pointe Homes, Inc.

TPH

Tri Pointe Homes, Inc.

TPH/Operative Builders/DE

Our Company Tri Pointe was founded in April 2009, near the end of an unprecedented downturn in the national homebuilding industry. Since then, we have grown from a Southern California fee homebuilder into a regionally-focused national homebuilder engaged in the design, construction and sale of innovative single-family attached and detached homes in 17 markets across twelve states and the Distri…

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ProfitabilityThin margins GrowthDeclining Cash FlowCash burn ValuationN/A

What stands out

Operating margin is thin at 8.70%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.

What's changing

Revenue declined 22.8% YoY. Margins deteriorated 4.1pp alongside, both lines moving the wrong way.

What deserves caution

Free cash flow declined 81% versus the prior year, cash generation momentum has weakened. ROIC dropped from 10.01% to 4.77%, capital efficiency is deteriorating.

Profitability & Returns

TTM as of 2026-06 · YoY vs prior year · ROIC = NOPAT / invested capital

Revenue (TTM)

$3.05B

▼ -22.8% YoY

Net Income (TTM)

-$35M

▼ -47.4% YoY

Op. Margin

1.86%

▼ -4.1pp YoY

ROIC

0.99%

▼ -5.2pp YoY

Cash Flow & Balance Sheet

FCF = operating cash flow + capex · Net debt = total debt − cash · Balance sheet from latest filing

FCF (TTM)

-$178M

▼ -80.9% YoY

Op. Cash Flow (TTM)

-$150M

▼ -76.8% YoY

Net Debt

$800M

Cash & Equiv.

$462M

5Y CAGR: +1.3%

5Y CAGR: -25.6%

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Quality Scorecard

Is this a high-quality business?

Dividends

Payout safety and growth

DCF Valuation

What is it worth?

Financials

Full income, cash flow, balance sheet

SourceComputed from the 10-Q filed 30 Jul 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 12 Oct 2026. How this is calculated.

Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.

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Spot a number that looks wrong? Check it in TPH's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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