# Legacy Housing Corporation (LEGH)

> Source: Nexqual · https://nexqual.com/LEGH · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Legacy Housing Corporation (LEGH), nexqual.com/LEGH" · informational, not investment advice.

**Price:** USD 28.4 (-0.49% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 28.54 · day 27.9–28.59 · 52w 18.29–31.34 · market cap $675M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $179M, net income $51.2M (28.6% margin), free cash flow $38.6M (SEC filings).
- Valuation: P/E 13.2x (avg 10.9x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold LEGH (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (1 analysts), mean target USD 24 (range 24–24).
- Total return with dividends: 1Y +27.9% vs S&P 500 +13.6%; 5Y +60.0% vs S&P 500 +79.8%.
- Next earnings: 2026-11-06, EPS estimate USD —, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $198M | $257M | $189M | $184M | $165M | $179M |
| Gross profit | $83.5M | $107M | $89.5M | $94.1M | $79.7M | — |
| Operating income | $58.9M | $78.0M | $64.6M | $63.6M | $48.4M | $58.8M |
| Net income | $49.9M | $67.8M | $54.5M | $61.6M | $41.8M | $51.2M |
| EPS (diluted) | $2.05 | $2.74 | $2.17 | $2.48 | $1.74 | — |
| Free cash flow | $54.3M | -$5.5M | -$21.2M | $26.8M | $28.2M | $38.6M |
| Gross margin | 42.3% | 41.6% | 47.3% | 51.1% | 48.5% | — |
| Operating margin | 29.8% | 30.4% | 34.1% | 34.5% | 29.4% | 32.8% |
| Net margin | 25.3% | 26.4% | 28.8% | 33.5% | 25.4% | 28.6% |
| Revenue growth | +11.8% | +30.1% | -26.4% | -2.6% | -10.7% | — |
| Cash + short-term investments | $1.0M | $2.8M | $748K | $1.1M | $8.5M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 13.2x · P/S 3.8x · P/FCF 17.5x · P/B 1.2x · FCF yield 5.71% · Earnings yield 7.59% · Buyback yield (TTM) 0.26%
P/E at fiscal year-ends: Dec 2025 11.2x, Dec 2024 10.0x, Dec 2023 11.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold LEGH. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Yacktman Asset Management |  | 0.24% | $19.8M | Added +6.8% |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 1 analysts; mean target USD 24 (low 24, high 24).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +27.9% | +60.0% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +28.0% | +9.8% |
| Volatility (annualized) | 33.3% | 38.5% |
| Max drawdown | -20.3% (Nov 2025→Mar 2026) | -53.5% (Feb 2022→Jul 2022) |

## Peers (Residential Construction)
BXBL (BOXABL, Inc.) USD 2.59 -4.78% · HOV (Hovnanian Enterprises, Inc.) USD 101.54 -0.45% · DFH (Dream Finders Homes, Inc.) USD 9.72 -5.36% · LGIH (LGI Homes, Inc.) USD 41.61 -2.71% · GRBK (Green Brick Partners, Inc.) USD 62.92 -1.81% · KBH (KB Home) USD 46.17 -1.28%

## More
Full page: https://nexqual.com/LEGH · 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

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Workforce Housing Sales | $25.5M | 47.5% | +2304.3% |
| Commercial Sales | $13.2M | 24.5% | +12.5% |
| Retail Store Sales | $6.8M | 12.6% | -7.3% |
| Inventory Finance Sales | $3.6M | 6.7% | -73.6% |
| Product & Service Other | $3.4M | 6.3% | +39.1% |
| Direct Sales | $1.3M | 2.5% | -40.0% |
| Total revenue | $53.8M | 100% | — |

## Customer concentration

Period ended 2026-06-30: 41.6% of revenue from unnamed direct customers (10-Q, filed 2026-08-05).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter (ends 2026-12-31) | — | — | — | $0 | — |
| Current fiscal year (ends 2026-12-31) | $2.64 | $2.07 | +27.5% | $0 | 1 |
| Next fiscal year (ends 2027-12-31) | $2.23 | $0.00 | +$2.23 | $0 | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-01-15 (includes earnings 2026-11-06): ±18.3%; last 8 reports averaged ±3.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2027-01-15 | 79 | 50.3% | ±18.3% |
| 2027-04-16 | 170 | 42.9% | ±23.0% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| May 8, 2026 | Quarter ended Mar 31, 2026 | $0.46 | $0.45 | Beat +2.2% | +4.5% |
| Nov 7, 2025 | Quarter ended Sep 30, 2025 | $0.35 | $0.58 | Miss −39.7% | -7.7% |
| Nov 14, 2024 | — | — | — | — | -1.3% |
| Aug 13, 2024 | — | — | — | — | +1.8% |
| May 14, 2024 | — | — | — | — | +4.9% |
| Aug 11, 2023 | — | — | — | — | -3.0% |
| May 11, 2023 | — | — | — | — | -2.2% |
| Mar 20, 2023 | — | — | — | — | +0.2% |
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 |
|---|---|---|---|
| 2026-09-18 | DEF 14A | Proxy statement (pay, board, votes) · period ended Oct 28, 2026 | https://www.sec.gov/Archives/edgar/data/1436208/000110465926108932/0001104659-26-108932-index.htm |
| 2026-08-18 | 8-K | Director or executive officer change, or pay arrangement — “On August 13, 2026, the Board of Directors of the Company appointed Kenneth E. Shipley, age 67, as Chairman of the Board and Chief Executive Officer of the Company, effective August 13, 2026. Mr. Shipley co-founded the Company in 2005 and has been a member of the Board of Directors since January 2018. He served as the Company's Co-Chief Executive Officer from January 2018 to February 2019, as President and sole Chief Executive Officer from February 2019 to June 2022, as Chairman of the Board of Directors and…” | https://www.sec.gov/Archives/edgar/data/1436208/000110465926097971/0001104659-26-097971-index.htm |
| 2026-08-14 | 8-K | Other material event — “2026 Annual Meeting of Stockholders On August 13, 2026, the Board of Directors (the "Board") of Legacy Housing Corporation (the "Company") established Wednesday, October 28, 2026 as the date of the Company's 2026 Annual Meeting of Stockholders (the "2026 Annual Meeting"). The 2026 Annual Meeting will be held at 11:00 a.m. Central Time solely by means of remote communication in a virtual meeting format, and not at any physical location. The Board also established the close of business on September 14, 2026 as the…” | https://www.sec.gov/Archives/edgar/data/1436208/000110465926096799/0001104659-26-096799-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1436208/000110465926091072/0001104659-26-091072-index.htm |
| 2026-07-22 | 8-K | Director or executive officer change, or pay arrangement — “On July 17, 2026, Curtis D. Hodgson notified the Board of Directors (the "Board") of Legacy Housing Corporation (the "Company") of his decision to retire, effective July 21, 2026, from his positions as Executive Chairman of the Company and as a member of the Board. Mr. Hodgson did not serve on any committees of the Board. A copy of Mr. Hodgson's letter to the Board, dated July 17, 2026, is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.” | https://www.sec.gov/Archives/edgar/data/1436208/000110465926085476/0001104659-26-085476-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.