Green Brick Partners, Inc. GRBK
Green Brick Partners, Inc. and its subsidiaries ("Green Brick", "the Company", "we" or "us") is a diversified homebuilding and land development company. We acquire and develop land and build homes through our seven brands of builders in three major markets. Our core markets are in the high growth U.S. metropolitan areas of Dallas-Fort Worth ("DFW"), Austin, and Houston, Texas, and Atlanta, Georgia, as well as the Treasure Coast, Florida area. We handle every stage of homebuilding, from acquiring and developing land, securing entitlements, designing homes, constructing properties, to providing title, mortgage, and insurance agency services. We also manage marketing and sales, and the creation of master planned communities.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.04B | $2.06B | $1.75B | $1.76B | $1.40B | $976.0M | $791.7M | $623.6M | $458.2M | $391.0M |
| Cost of revenue | $1.40B | $1.36B | $1.20B | $1.23B | $1.04B | $741.4M | $622.6M | $469.4M | $339.8M | $303.2M |
| Gross profit | $640.8M | $703.5M | $548.2M | $523.0M | $362.1M | $234.6M | $169.1M | $154.2M | $118.5M | $87.8M |
| SG&A | $231.4M | $226.6M | $193.0M | $163.9M | $134.3M | $112.1M | $97.8M | $80.0M | $58.4M | $38.6M |
| Operating income | — | — | — | — | — | — | — | $71.8M | $60.0M | $49.1M |
| Interest expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Pre-tax income | $438.2M | $511.9M | $391.3M | $396.5M | $257.0M | $142.8M | $84.3M | $81.7M | $64.2M | $50.6M |
| Income tax | $94.7M | $94.7M | $84.6M | $82.5M | $52.6M | $25.0M | $20.0M | $17.1M | $39.0M | $15.4M |
| Net income | $343.5M | $417.2M | $306.7M | $314.0M | $204.4M | $113.7M | $58.7M | $51.6M | $15.0M | $23.8M |
| EPS, basic | 7.09 | 8.51 | 6.20 | 6.07 | 3.75 | 2.25 | 1.16 | 1.02 | 0.30 | 0.49 |
| EPS, diluted | 7.07 | 8.45 | 6.14 | 6.02 | 3.72 | 2.24 | 1.16 | 1.02 | 0.30 | 0.49 |
| Shares, diluted (wtd. avg.) | $43.9M | $44.8M | $45.9M | $48.0M | $51.1M | $50.8M | $50.6M | $50.8M | $49.7M | $48.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $191.0M | $159.7M | $199.5M | $93.3M | $93.6M | $33.6M | $37.7M | $41.8M | $40.3M | $39.6M |
| Property, plant and equipment | $6.3M | $6.6M | $7.1M | $2.9M | $2.8M | $3.6M | $4.3M | $4.7M | $804.0K | $892.0K |
| Goodwill | $680.0K | $680.0K | $680.0K | $680.0K | $680.0K | $680.0K | $680.0K | $680.0K | $700.0K | — |
| Other intangibles | $197.0K | $282.0K | $367.0K | $452.0K | $537.0K | $622.0K | $707.0K | $856.0K | $0 | — |
| Total assets | $2.53B | $2.25B | $1.90B | $1.66B | $1.42B | $988.8M | $875.5M | $784.0M | $611.0M | $541.0M |
| Long-term debt | $323.3M | $339.9M | $350.5M | $371.9M | $339.5M | $220.5M | $241.0M | — | $116.9M | $85.9M |
| Total liabilities | $601.8M | $551.8M | $548.7M | $543.6M | $511.3M | $325.9M | $325.5M | $289.9M | $178.0M | $139.5M |
| Retained earnings | $1.57B | $1.33B | $997.0M | $754.3M | $539.9M | $349.7M | $235.0M | $177.5M | $125.9M | $110.9M |
| Total equity | $1.86B | $1.63B | $1.30B | $1.06B | $888.7M | $649.4M | $536.4M | $468.4M | $416.3M | $384.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $213.2M | $25.9M | $213.3M | $90.7M | -$92.4M | $35.1M | -$22.1M | -$39.5M | -$18.0M | -$4.9M |
| Depreciation and amortisation | $5.1M | $4.9M | $3.5M | $2.4M | $2.7M | $3.7M | $3.1M | $2.9M | $325.0K | $286.0K |
| Stock-based compensation | $12.3M | $8.4M | $6.8M | $3.5M | $3.1M | $2.1M | $2.2M | $1.8M | $2.6M | $1.3M |
| Capital expenditure | $4.8M | $4.4M | $7.8M | $2.0M | $2.0M | $2.9M | $2.6M | $3.2M | $149.0K | $458.0K |
| Investing cash flow | -$43.6M | $27.8M | -$13.3M | -$6.5M | -$2.0M | -$13.3M | -$7.9M | -$30.8M | -$435.0K | -$458.0K |
| Financing cash flow | -$138.4M | -$93.5M | -$93.8M | -$84.5M | $154.3M | -$25.9M | $25.9M | $71.8M | $19.1M | $21.1M |
| Dividends paid | $2.9M | $2.9M | $2.9M | $2.8M | $0 | $0 | — | — | — | — |
| Buybacks | $83.8M | $48.4M | $45.8M | $101.5M | $0 | $0 | $2.2M | $981.0K | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-037542.
Others in SIC 1531
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|---|---|---|---|---|
| DHI | HORTON D R INC /DE/ | $39.93B | 12.3x | -6.9% |
| PHM | PULTEGROUP INC/MI/ | $23.33B | 11.2x | -3.5% |
| NVR | NVR INC | $16.79B | 14.4x | -1.9% |
| TOL | Toll Brothers, Inc. | $13.06B | 10.5x | 1.1% |
| ECG | Everus Construction Group, Inc. | $5.99B | 29.7x | 31.5% |
| MTH | Meritage Homes CORP | $4.39B | 10.6x | — |
| MHO | M/I HOMES, INC. | $3.75B | 10.1x | -1.9% |
| KBH | KB HOME | $3.20B | 8.5x | -10.0% |