# Champion Homes, Inc. (SKY)

> Source: Nexqual · https://nexqual.com/SKY · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Champion Homes, Inc. (SKY), nexqual.com/SKY" · informational, not investment advice.

**Price:** USD 79.09 (-1.26% on the day) · last close of Oct 28, 2026; US market pre market, not a live price. Prev close 80.1 · day 78.1–80.46 · 52w 63.87–99.17 · market cap $4.29B · NYQ

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $2.67B, net income $191M (7.2% margin), free cash flow $266M (SEC filings).
- Valuation: P/E 22.4x (avg 27.2x at the last 3 fiscal year-ends), EV/EBITDA 12.8x, net cash $761M.
- 2 of 80 tracked superinvestors hold SKY (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $1.1M; 4 not under a Rule 10b5-1 plan ($1.1M); 3 by opportunistic insiders (3 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.86 on a 1–5 scale) (7 analysts), mean target USD 101.83 (range 85–115).
- Total return with dividends: 1Y +19.5% vs S&P 500 +13.6%; 5Y +24.9% vs S&P 500 +79.8%.
- Next earnings: 2026-11-03, EPS estimate USD 0.94, revenue estimate $720M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.21B | $2.61B | $2.02B | $2.48B | $2.66B | $2.67B |
| Gross profit | $589M | $819M | $486M | $664M | $704M | — |
| Operating income | $333M | $518M | $175M | $237M | $252M | $234M |
| Net income | $248M | $402M | $147M | $198M | $207M | $191M |
| EPS (diluted) | $4.33 | $7.00 | $2.53 | $3.42 | $3.66 | — |
| Free cash flow | $193M | $364M | $170M | $190M | $270M | $266M |
| Gross margin | 26.7% | 31.4% | 24.0% | 26.7% | 26.4% | — |
| Operating margin | 15.1% | 19.9% | 8.7% | 9.5% | 9.5% | 8.7% |
| Net margin | 11.2% | 15.4% | 7.2% | 8.0% | 7.8% | 7.2% |
| Revenue growth | +55.3% | +18.1% | -22.3% | +22.7% | +7.3% | — |
| Cash + short-term investments | $435M | $747M | $495M | $610M | $638M | — |
| Total debt | $12.4M | $12.4M | $24.7M | $24.8M | $23.8M | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 22.4x · P/S 1.6x · EV/EBITDA 12.8x · EV/Sales 1.3x · P/FCF 16.1x · P/B 2.7x · FCF yield 6.20% · Earnings yield 4.46% · Buyback yield (TTM) 4.66% · Net cash $761M · EV $3.53B
P/E at fiscal year-ends: Mar 2026 20.3x, Mar 2025 27.7x, Mar 2024 33.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold SKY. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Third Avenue Management |  | 1.42% | $8.9M | Reduced -0.2% |
| First Eagle Investment | First Eagle Investment Management | 0.02% | $11.9M | Reduced -0.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-10 | Berman Michael B | Director | 1,500 | $140K | 12% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-07 | Helgren Erin Claire | Director | 1,100 | $105K | 11.8% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-09 | Kimmell Joseph A. | EVP, Operations | 4,000 | $304K | 11.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-05 | Kimmell Joseph A. | EVP, Operations | 7,922 | $600K | 18% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.86 on a 1–5 scale), 7 analysts; mean target USD 101.83 (low 85, high 115).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | RBC Capital | Target lowered | Outperform | $99 → $94 |
| 2026-09-30 | Oppenheimer | Initiated | Perform |  |
| 2026-08-06 | UBS | Target raised | Buy | $93 → $115 |
| 2026-08-06 | RBC Capital | Target raised | Outperform | $92 → $99 |
| 2026-08-06 | Barclays | Target raised | Overweight | $102 → $109 |
| 2026-07-14 | Barclays | Target raised | Overweight | $94 → $102 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +19.5% | +24.9% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +19.6% | +4.5% |
| Volatility (annualized) | 44.0% | 47.8% |
| Max drawdown | -33.1% (Jan 2026→May 2026) | -46.1% (Dec 2021→Jun 2022) |

## Peers (Residential Construction)
MTH (Meritage Homes Corporation) USD 62.02 -3.00% · CVCO (Cavco Industries, Inc.) USD 532.57 -1.23% · IBP (Installed Building Products, In) USD 199.9 -2.67% · MHO (M/I Homes, Inc.) USD 123.6 -2.04% · KBH (KB Home) USD 46.17 -1.28% · GRBK (Green Brick Partners, Inc.) USD 62.92 -1.81%

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

## Supply chain and relationships (SEC annual reports)

Named in SKY's own 10-K filed 2026-05-26 (https://www.sec.gov/Archives/edgar/data/90896/000119312526239333/sky-20260328.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Champion Financing | "During fiscal 2025, we began lending activities through Champion Financing, our joint venture with Triad Financial Services." |
| Partner | Triad Financing Services | "During fiscal 2025, we began lending activities through Champion Financing, our joint venture with Triad Financial Services." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.94 | $0.89 | +6.4% | $719.7M | 6 |
| Next quarter (ends 2026-12-31) | $0.91 | $0.90 | +1.0% | $693.8M | 6 |
| Current fiscal year (ends 2027-03-31) | $3.46 | $3.40 | +1.9% | $2.79B | 6 |
| Next fiscal year (ends 2028-03-31) | $4.20 | $4.02 | +4.3% | $3.00B | 6 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.88 | $0.87 | Beat +1.1% | — |
| — | Quarter ended Mar 31, 2026 | $0.68 | $0.62 | Beat +9.7% | — |
| — | Quarter ended Dec 31, 2025 | $0.96 | $0.84 | Beat +14.3% | — |
| — | Quarter ended Sep 30, 2025 | $1.01 | $0.82 | Beat +23.2% | — |
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 |
|---|---|---|---|
| 2026-10-09 | Schedule 13G/A | Wasatch Advisors LP: 4.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/90896/000081413326000117/0000814133-26-000117-index.htm |
| 2026-10-05 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/90896/000119312526414136/0001193125-26-414136-index.htm |
| 2026-08-26 | 8-K | Director or executive officer change, or pay arrangement; Other material event — “On August 24, 2026, the Board of Directors (the "Board") of Champion Homes, Inc. (the "Company") increased the size of the Board from six directors to seven directors and elected Michael R. Haack, 53, to the Board, effective August 26, 2026, with a term expiring at the Company's 2027 Annual Meeting of Shareholders. The Board has determined that Mr. Haack is independent in accordance with the listing standards of the New York Stock Exchange. Mr. Haack has also been appointed to the Compensation Committee of the…” | https://www.sec.gov/Archives/edgar/data/90896/000119312526368465/0001193125-26-368465-index.htm |
| 2026-08-07 | Schedule 13G | STATE STREET CORPORATION: 5.4% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/90896/000009375126000433/0000093751-26-000433-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 27, 2026 | https://www.sec.gov/Archives/edgar/data/90896/000119312526335147/0001193125-26-335147-index.htm |
| 2026-08-04 | 8-K | Quarterly results; Other material event — “On August 4, 2026 the Company announced that its Board of Directors approved an increase of $50.0 million to the Company's existing share repurchase program to refresh the available amount to $150.0 million. Portions of the press release attached as Exhibit 99.1 to this Current Report on Form 8-K with respect to the share repurchase program are incorporated in this Item 8.01 by reference.” | https://www.sec.gov/Archives/edgar/data/90896/000119312526332837/0001193125-26-332837-index.htm |
| 2026-08-03 | 8-K | Shareholder vote results | https://www.sec.gov/Archives/edgar/data/90896/000119312526330664/0001193125-26-330664-index.htm |
| 2026-07-07 | Schedule 13G | Wasatch Advisors LP: 5.0% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/90896/000081413326000069/0000814133-26-000069-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.