Smith Douglas Homes Corp. SDHC

Industrials SIC 1531 - Operative Builders NYSE

We are engaged in the design, construction, and sale of single-family homes in some of the highest growth and most desirable markets in the Southeastern and Southern United States. We employ an efficient land-light, production focused, and conservatively leveraged business model, which we believe results in a compelling combination of strong home closing gross margins, construction cycle times, and returns. Our communities are primarily targeted to entry-level and empty-nest homebuyers. We offer our homebuyers an attractive value proposition by providing a personalized home buying experience at affordable price points. With the goal of becoming one of the most dominant homebuilders in the Southeastern and Southern United States, we intend to grow operations within our existing footprint and to expand into new markets where we can most effectively implement our business strategy and maximize our profit and returns.

Last close 11.21 2026-09-04
Market cap $93.9M estimated share count
52-week range 10.72 - 23.49

Valuation FY2025 figures against the last close

P/S0.1x
P/E9.4x
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS1.19

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022
Revenue $971.1M$975.5M$764.6M
Cost of revenue $758.9M$719.9M$548.3M
Gross profit $212.2M$255.5M$216.3M
SG&A $139.8M$136.4M$92.4M
Interest expense $3.2M$2.5M$1.7M
Pre-tax income $70.9M$116.9M$123.2M
Income tax $2.5M$5.1M$0
Net income $10.7M$16.1M$123.2M
EPS, basic 1.191.82
EPS, diluted 1.191.81
Shares, diluted (wtd. avg.) $9.2M$9.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022
Cash and equivalents $12.7M$22.4M$19.8M$29.6M
Property, plant and equipment $9.7M$3.8M$1.5M
Goodwill $25.7M$25.7M$25.7M
Total assets $557.6M$475.9M$352.7M
Total liabilities $113.5M$74.2M$143.8M
Retained earnings $26.1M$15.4M
Total equity $86.7M$73.6M$208.9M$164.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022
Operating cash flow -$31.3M$19.1M$76.3M
Depreciation and amortisation $2.5M$1.8M$1.1M
Stock-based compensation $3.7M$4.4M$0
Capital expenditure $5.5M$3.9M$1.3M
Investing cash flow -$6.6M-$4.7M-$76.8M
Financing cash flow $28.3M-$11.8M-$9.2M

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 0001628280-26-017245.

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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%