CAVCO INDUSTRIES INC (CVCO)
US1495681074 - Common Stock
We assign a fundamental rating of 6 out of 10 to CVCO. CVCO was compared to 66 industry peers in the Household Durables industry. Both the health and profitability get an excellent rating, making CVCO a very profitable company, without any liquidiy or solvency issues. CVCO is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year CVCO was profitable.
In the past year CVCO had a positive cash flow from operations.
In the past 5 years CVCO has always been profitable.
CVCO had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
CVCO's Return On Assets of 10.60% is amongst the best of the industry. CVCO outperforms 81.25% of its industry peers.
Looking at the Return On Equity, with a value of 14.22%, CVCO is in the better half of the industry, outperforming 60.94% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 11.98%, CVCO is in the better half of the industry, outperforming 68.75% of the companies in the same industry.
CVCO had an Average Return On Invested Capital over the past 3 years of 18.23%. This is significantly above the industry average of 12.01%.
The 3 year average ROIC (18.23%) for CVCO is well above the current ROIC(11.98%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.6% | ||
| ROE | 14.22% | ||
| ROIC | 11.98% |
ROA(3y)15.72%
ROA(5y)12.9%
ROE(3y)21.24%
ROE(5y)17.46%
ROIC(3y)18.23%
ROIC(5y)15.07%
1.3 Margins
With a decent Profit Margin value of 8.00%, CVCO is doing good in the industry, outperforming 65.63% of the companies in the same industry.
In the last couple of years the Profit Margin of CVCO has grown nicely.
With a Operating Margin value of 8.91%, CVCO perfoms like the industry average, outperforming 54.69% of the companies in the same industry.
In the last couple of years the Operating Margin of CVCO has grown nicely.
CVCO has a Gross Margin of 22.76%. This is in the lower half of the industry: CVCO underperforms 70.31% of its industry peers.
In the last couple of years the Gross Margin of CVCO has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.91% | ||
| PM (TTM) | 8% | ||
| GM | 22.76% |
OM growth 3Y7.56%
OM growth 5Y2.18%
PM growth 3Y8.35%
PM growth 5Y4.29%
GM growth 3Y3.32%
GM growth 5Y2.17%
2. Health
2.1 Basic Checks
CVCO has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
CVCO has less shares outstanding than it did 1 year ago.
CVCO has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, CVCO has an improved debt to assets ratio.
2.2 Solvency
CVCO has an Altman-Z score of 9.55. This indicates that CVCO is financially healthy and has little risk of bankruptcy at the moment.
CVCO's Altman-Z score of 9.55 is amongst the best of the industry. CVCO outperforms 93.75% of its industry peers.
The Debt to FCF ratio of CVCO is 0.05, which is an excellent value as it means it would take CVCO, only 0.05 years of fcf income to pay off all of its debts.
CVCO's Debt to FCF ratio of 0.05 is amongst the best of the industry. CVCO outperforms 89.06% of its industry peers.
CVCO has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
With an excellent Debt to Equity ratio value of 0.01, CVCO belongs to the best of the industry, outperforming 82.81% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.05 | ||
| Altman-Z | 9.55 |
ROIC/WACC1.31
WACC9.15%
2.3 Liquidity
A Current Ratio of 2.90 indicates that CVCO has no problem at all paying its short term obligations.
CVCO has a Current ratio (2.90) which is comparable to the rest of the industry.
CVCO has a Quick Ratio of 2.11. This indicates that CVCO is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 2.11, CVCO belongs to the top of the industry, outperforming 85.94% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.9 | ||
| Quick Ratio | 2.11 |
3. Growth
3.1 Past
The earnings per share for CVCO have decreased strongly by -19.95% in the last year.
CVCO shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.92% yearly.
The Revenue has decreased by -2.78% in the past year.
The Revenue has been growing by 13.27% on average over the past years. This is quite good.
EPS 1Y (TTM)-19.95%
EPS 3Y30.54%
EPS 5Y19.92%
EPS Q2Q%10.92%
Revenue 1Y (TTM)-2.78%
Revenue growth 3Y17.44%
Revenue growth 5Y13.27%
Sales Q2Q%12.26%
3.2 Future
The Earnings Per Share is expected to grow by 14.06% on average over the next years. This is quite good.
CVCO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.14% yearly.
EPS Next Y11.06%
EPS Next 2Y14.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year7.05%
Revenue Next 2Y7.14%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 25.74, CVCO can be considered very expensive at the moment.
CVCO's Price/Earnings ratio is a bit more expensive when compared to the industry. CVCO is more expensive than 62.50% of the companies in the same industry.
When comparing the Price/Earnings ratio of CVCO to the average of the S&P500 Index (27.20), we can say CVCO is valued inline with the index average.
With a Price/Forward Earnings ratio of 19.07, CVCO is valued on the expensive side.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CVCO indicates a slightly more expensive valuation: CVCO is more expensive than 60.94% of the companies listed in the same industry.
CVCO's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.73.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.74 | ||
| Fwd PE | 19.07 |
4.2 Price Multiples
CVCO's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. CVCO is more expensive than 64.06% of the companies in the same industry.
CVCO's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.99 | ||
| EV/EBITDA | 17.88 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of CVCO may justify a higher PE ratio.
CVCO's earnings are expected to grow with 14.06% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.33
PEG (5Y)1.29
EPS Next 2Y14.06%
EPS Next 3YN/A
5. Dividend
5.1 Amount
No dividends for CVCO!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
CAVCO INDUSTRIES INC
NASDAQ:CVCO (12/20/2024, 8:04:28 PM)
After market: 455.297 0 (0%)455.3
+13.08 (+2.96%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryHousehold Durables
Earnings (Last)
Earnings (Next)
Inst Owners96.8%
Inst Owner Change-1%
Ins Owners0.9%
Ins Owner Change0.47%
Market Cap3.69B
Analysts84.44
Price Target501.5 (10.15%)
Short Float %2.36%
Short Ratio3.19
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.83%
Min EPS beat(2)-14.33%
Max EPS beat(2)8.67%
EPS beat(4)1
Avg EPS beat(4)-4.99%
Min EPS beat(4)-14.33%
Max EPS beat(4)8.67%
EPS beat(8)3
Avg EPS beat(8)-3.25%
EPS beat(12)7
Avg EPS beat(12)8.93%
EPS beat(16)11
Avg EPS beat(16)15.38%
Revenue beat(2)2
Avg Revenue beat(2)2.49%
Min Revenue beat(2)1.28%
Max Revenue beat(2)3.69%
Revenue beat(4)3
Avg Revenue beat(4)0.88%
Min Revenue beat(4)-4.31%
Max Revenue beat(4)3.69%
Revenue beat(8)3
Avg Revenue beat(8)-3.05%
Revenue beat(12)7
Avg Revenue beat(12)1.88%
Revenue beat(16)11
Avg Revenue beat(16)2.61%
PT rev (1m)11.15%
PT rev (3m)13.72%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-8.37%
EPS NY rev (1m)7.63%
EPS NY rev (3m)7.63%
Revenue NQ rev (1m)0.34%
Revenue NQ rev (3m)0.03%
Revenue NY rev (1m)0.76%
Revenue NY rev (3m)2.68%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.74 | ||
| Fwd PE | 19.07 | ||
| P/S | 1.99 | ||
| P/FCF | 24.99 | ||
| P/OCF | 22.17 | ||
| P/B | 3.54 | ||
| P/tB | 4.14 | ||
| EV/EBITDA | 17.88 |
EPS(TTM)17.69
EY3.89%
EPS(NY)23.87
Fwd EY5.24%
FCF(TTM)18.22
FCFY4%
OCF(TTM)20.54
OCFY4.51%
SpS228.35
BVpS128.48
TBVpS110.06
PEG (NY)2.33
PEG (5Y)1.29
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.6% | ||
| ROE | 14.22% | ||
| ROCE | 15.18% | ||
| ROIC | 11.98% | ||
| ROICexc | 18.65% | ||
| ROICexgc | 23.73% | ||
| OM | 8.91% | ||
| PM (TTM) | 8% | ||
| GM | 22.76% | ||
| FCFM | 7.98% |
ROA(3y)15.72%
ROA(5y)12.9%
ROE(3y)21.24%
ROE(5y)17.46%
ROIC(3y)18.23%
ROIC(5y)15.07%
ROICexc(3y)26.27%
ROICexc(5y)23.15%
ROICexgc(3y)33.17%
ROICexgc(5y)29.6%
ROCE(3y)23.11%
ROCE(5y)19.1%
ROICexcg growth 3Y0.68%
ROICexcg growth 5Y-0.08%
ROICexc growth 3Y1.92%
ROICexc growth 5Y0.54%
OM growth 3Y7.56%
OM growth 5Y2.18%
PM growth 3Y8.35%
PM growth 5Y4.29%
GM growth 3Y3.32%
GM growth 5Y2.17%
F-Score6
Asset Turnover1.32
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.05 | ||
| Debt/EBITDA | 0.04 | ||
| Cap/Depr | 99.63% | ||
| Cap/Sales | 1.01% | ||
| Interest Coverage | 382.85 | ||
| Cash Conversion | 90.59% | ||
| Profit Quality | 99.74% | ||
| Current Ratio | 2.9 | ||
| Quick Ratio | 2.11 | ||
| Altman-Z | 9.55 |
F-Score6
WACC9.15%
ROIC/WACC1.31
Cap/Depr(3y)175%
Cap/Depr(5y)235.26%
Cap/Sales(3y)1.39%
Cap/Sales(5y)1.57%
Profit Quality(3y)94.25%
Profit Quality(5y)102.93%
High Growth Momentum
Growth
EPS 1Y (TTM)-19.95%
EPS 3Y30.54%
EPS 5Y19.92%
EPS Q2Q%10.92%
EPS Next Y11.06%
EPS Next 2Y14.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-2.78%
Revenue growth 3Y17.44%
Revenue growth 5Y13.27%
Sales Q2Q%12.26%
Revenue Next Year7.05%
Revenue Next 2Y7.14%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-27.98%
EBIT growth 3Y26.32%
EBIT growth 5Y15.73%
EBIT Next Year11.92%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-17.81%
FCF growth 3Y32.8%
FCF growth 5Y52.41%
OCF growth 1Y-26.63%
OCF growth 3Y25.38%
OCF growth 5Y46.94%