# Cavco Industries, Inc. (CVCO)

> Source: Nexqual · https://nexqual.com/CVCO · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Cavco Industries, Inc. (CVCO), nexqual.com/CVCO" · informational, not investment advice.

**Price:** USD 547.25 (+2.76% on the day) · last close of Oct 29, 2026; US market after hours, not a live price. Prev close 532.57 · day 522.1–552.08 · 52w 443.34–713.01 · market cap $4.21B · NMS

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $2.30B, net income $181M (7.9% margin), free cash flow $235M (SEC filings).
- Valuation: P/E 23.2x (avg 22.3x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 1.80 on a 1–5 scale) (5 analysts), mean target USD 662 (range 600–720).
- Total return with dividends: 1Y +8.6% vs S&P 500 +14.4%; 5Y +127.7% vs S&P 500 +79.1%.
- Next earnings: 2026-10-29, EPS estimate USD 5.42, revenue estimate $613M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.63B | $2.14B | $1.79B | $2.02B | $2.24B | $2.30B |
| Gross profit | $409M | $555M | $427M | $466M | $527M | — |
| Operating income | $202M | $297M | $179M | $190M | $229M | $221M |
| Net income | $198M | $241M | $158M | $171M | $191M | $181M |
| EPS (diluted) | $21.34 | $26.95 | $18.37 | $20.71 | $23.98 | — |
| Free cash flow | $126M | $212M | $207M | $157M | $232M | $235M |
| Gross margin | 25.1% | 25.9% | 23.8% | 23.1% | 23.5% | — |
| Operating margin | 12.4% | 13.8% | 10.0% | 9.4% | 10.2% | 9.6% |
| Net margin | 12.1% | 11.2% | 8.8% | 8.5% | 8.5% | 7.9% |
| Revenue growth | +46.8% | +31.7% | -16.2% | +12.3% | +11.4% | — |
| Cash + short-term investments | $264M | $286M | $371M | $376M | $253M | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 23.2x · P/S 1.8x · P/FCF 17.9x · P/B 3.8x · FCF yield 5.58% · Earnings yield 4.31% · Buyback yield (TTM) 3.32%
P/E at fiscal year-ends: Mar 2026 20.2x, Mar 2025 25.1x, Mar 2024 21.7x.

## Analysts
Consensus Buy (mean 1.80 on a 1–5 scale), 5 analysts; mean target USD 662 (low 600, high 720).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | Oppenheimer | Initiated | Outperform | $720 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +8.6% | +127.7% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | +8.6% | +17.8% |
| Volatility (annualized) | 44.7% | 41.7% |
| Max drawdown | -34.7% (Jan 2026→May 2026) | -41.8% (Dec 2021→Jun 2022) |

## Peers (Residential Construction)
MTH (Meritage Homes Corporation) USD 64.49 +3.98% · SKY (Champion Homes, Inc.) USD 81.05 +2.48% · IBP (Installed Building Products, In) USD 212.23 +6.17% · MHO (M/I Homes, Inc.) USD 128.34 +3.83% · KBH (KB Home) USD 47.66 +3.23% · GRBK (Green Brick Partners, Inc.) USD 62.53 -0.62%

## More
Full page: https://nexqual.com/CVCO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $5.42 | $5.96 | -9.1% | $613.1M | 4 |
| Next quarter (ends 2026-12-31) | $5.95 | $6.49 | -8.3% | $622.9M | 4 |
| Current fiscal year (ends 2027-03-31) | $22.56 | $23.95 | -5.8% | $2.45B | 4 |
| Next fiscal year (ends 2028-03-31) | $28.54 | $29.40 | -2.9% | $2.64B | 4 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $5.43 | $5.55 | Miss −2.2% | — |
| — | Quarter ended Mar 31, 2026 | $5.42 | $5.30 | Beat +2.3% | — |
| — | Quarter ended Dec 31, 2025 | $5.58 | $6.00 | Miss −7.0% | — |
| — | Quarter ended Sep 30, 2025 | $6.55 | $6.05 | Beat +8.3% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-29 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/278166/000162828026068294/0001628280-26-068294-index.htm |
| 2026-08-12 | Schedule 13G/A | Capital World Investors: 6.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/278166/000142284926000138/0001422849-26-000138-index.htm |
| 2026-07-31 | 10-Q | Quarterly report · period ended Jun 27, 2026 | https://www.sec.gov/Archives/edgar/data/278166/000162828026051421/0001628280-26-051421-index.htm |
| 2026-07-31 | 8-K | Shareholder vote results | https://www.sec.gov/Archives/edgar/data/278166/000162828026051407/0001628280-26-051407-index.htm |
| 2026-07-30 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/278166/000162828026051115/0001628280-26-051115-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.