LGI Homes, Inc. LGIH
We are engaged in the design, construction and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, Pennsylvania, Maryland and Utah. Our management team has been in the residential land development business since the mid-1990s. Since commencing home building operations in 2003, we have constructed and closed over 80,000 homes.
Unless otherwise indicated or the context requires, "LGI," the "Company," "we," "our" and "us" refer collectively to LGI Homes, Inc. and its subsidiaries.
Since December 2013, we have grown substantially, expanding our operations from eight markets in four states to 36 markets in 21 states. As of December 31, 2025, we were active in 144 communities throughout the United States and expect to continue increasing our community count in the future.
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 | $1.71B | $2.20B | $2.36B | $2.30B | $3.05B | $2.37B | $1.84B | $1.50B | $1.26B | $838.3M |
| Cost of revenue | $1.35B | $1.67B | $1.82B | $1.66B | $2.23B | $1.76B | $1.40B | $1.12B | $937.5M | $616.7M |
| Gross profit | $353.5M | $533.3M | $542.2M | $646.6M | $818.0M | $603.1M | $436.5M | $379.9M | $320.4M | $221.6M |
| SG&A | $111.6M | $121.2M | $117.3M | $111.6M | $100.3M | $90.0M | $77.4M | $70.3M | $55.7M | $43.2M |
| Operating income | $79.8M | $212.1M | $233.3M | $390.1M | $547.7M | $364.7M | $227.5M | $200.1M | $169.8M | $111.5M |
| Interest expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Pre-tax income | $98.5M | $258.9M | $261.8M | $418.1M | $542.8M | $367.8M | $231.8M | $199.1M | $171.4M | $113.7M |
| Income tax | $25.9M | $62.8M | $62.5M | $91.5M | $113.1M | $44.0M | $53.2M | $43.8M | $58.1M | $38.6M |
| Net income | $72.6M | $196.1M | $199.2M | $326.6M | $429.6M | $323.9M | $178.6M | $155.3M | $113.3M | $75.0M |
| EPS, basic | 3.13 | 8.33 | 8.48 | 13.90 | 17.46 | 12.89 | 7.70 | 6.89 | 5.24 | 3.61 |
| EPS, diluted | 3.12 | 8.30 | 8.42 | 13.76 | 17.25 | 12.76 | 7.02 | 6.24 | 4.73 | 3.41 |
| Shares, diluted (wtd. avg.) | $23.3M | $23.6M | $23.6M | $23.7M | $24.9M | $25.4M | $25.4M | $24.9M | $23.9M | $22.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $61.2M | $53.2M | $49.0M | $32.0M | $50.5M | $35.9M | $38.3M | $46.6M | $67.6M | $49.5M |
| Property, plant and equipment | $107.1M | $57.0M | $45.5M | $33.0M | $16.9M | $3.6M | $1.6M | $1.4M | $1.7M | $2.0M |
| Goodwill | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M |
| Total assets | $3.93B | $3.76B | $3.41B | $3.12B | $2.35B | $1.83B | $1.67B | $1.40B | $1.08B | $814.5M |
| Long-term debt | $1.66B | $1.48B | $1.25B | $1.12B | $805.2M | $538.4M | $690.6M | $653.7M | $475.2M | $400.5M |
| Total liabilities | $1.83B | $1.72B | $1.55B | $1.48B | $956.0M | $687.1M | $820.9M | $739.5M | $590.0M | $459.3M |
| Retained earnings | $2.16B | $2.09B | $1.89B | $1.69B | $1.36B | $934.3M | $610.4M | $431.8M | $276.5M | $163.2M |
| Total equity | $2.10B | $2.04B | $1.86B | $1.64B | $1.40B | $1.14B | $845.2M | $655.9M | $489.8M | $355.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$140.0M | -$143.7M | -$57.0M | -$370.5M | $21.7M | $202.2M | -$41.9M | -$116.7M | -$68.5M | -$108.2M |
| Depreciation and amortisation | $4.3M | $3.1M | $2.4M | $1.6M | $1.2M | $710.0K | $643.0K | $711.0K | $791.0K | $1.1M |
| Stock-based compensation | $6.0M | $10.5M | $8.9M | $9.2M | $13.6M | $13.5M | $7.5M | $5.9M | $4.2M | $3.4M |
| Capital expenditure | $924.0K | $2.0M | $1.4M | $1.2M | — | — | — | — | — | — |
| Investing cash flow | $27.9M | $15.6M | -$13.6M | -$6.0M | -$70.4M | -$5.6M | -$1.8M | -$74.9M | -$518.0K | -$722.0K |
| Financing cash flow | $120.1M | $132.3M | $87.6M | $357.9M | $63.3M | -$198.9M | $35.4M | $170.7M | $87.0M | $120.9M |
| Buybacks | $23.6M | $31.0M | $0 | $95.1M | $193.8M | $48.1M | $0 | $1.5M | $0 | $1.5M |
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 0001580670-26-000019.
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% |