Company Quick10K Filing
Legacy Housing
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 24 $304
10-Q 2019-11-14 Quarter: 2019-09-30
10-Q 2019-08-14 Quarter: 2019-06-30
10-Q 2019-05-15 Quarter: 2019-03-31
10-K 2019-04-09 Annual: 2018-12-31
S-1 2018-11-09 Public Filing
8-K 2019-12-30 Other Events
8-K 2019-11-14 Earnings, Exhibits
8-K 2019-11-08 Shareholder Vote
8-K 2019-09-27 Other Events, Exhibits
8-K 2019-08-13 Earnings, Exhibits
8-K 2019-07-17 Accountant, Officers, Exhibits
8-K 2019-05-13 Earnings, Exhibits
8-K 2019-04-12 Other Events, Exhibits
8-K 2019-04-08 Earnings, Exhibits
8-K 2019-02-07 Officers, Exhibits

Legacy Housing Financials

LEGH Metrics, Comps, Filings

Annual | Quarterly

Business

We build, sell and finance manufactured homes and “tiny houses” that are distributed through a network of independent retailers and company‑owned stores and also sold directly to manufactured home communities. The company was founded in 2005 as a Texas limited partnership named Legacy Housing, Ltd. Effective January 1, 2018, we converted into a Delaware corporation and changed our name to Legacy Housing Corporation. Our corporate office is located in Bedford, Texas (between Dallas and Fort Worth). We completed our initial public offering (the “IPO”) in December 2018 and our common stock trades on The NASDAQ Global Market under the symbol “LEGH.”

We are the fourth largest producer of manufactured homes in the United States as ranked by number of homes manufactured based on information available from the Manufactured Housing Institute and IBTS for the second quarter of 2018. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 390 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 31/2 bathrooms. Our homes range in price, at retail, from approximately $22,000 to $95,000. During 2018, we sold 3,950 home sections (which are entire modules or single floors) and in 2017 we sold 3,274 home sections. We commenced operations in 2005 and have experienced strong sales growth and increased our equity holders’ capital at a compound annual growth rate of approximately 28% between 2009 and 2018. We have experienced steady growth since our inception.

Our homes address the significant need in the United States for affordable housing. This need for affordable housing is being driven by a nationwide trend of increasing rental rates for housing, higher prices for site‑built homes and decreasing percentages of home ownership among portions of the U.S. population. Our customers typically have annual household incomes of less than $60,000 and include young and working class families, as well as persons age 55 and older. In 2016, there were approximately 63,799,000 households in the United States with annual household incomes of less than $60,000, representing a majority of all U.S. households, according to the Current Population Survey and 2017 Annual Social and Economic Supplement published by the U.S. Census Bureau.


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Operating, Investing, Financing

Comps ($ TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Meritage Homes (MTH) 2,022,616,890,000 5.4 6% 3,466,876,000,000 1,668,776,000,000 0 0 205,860,000,000 298,287,000,000 1,615,189,889,000
LGI Homes (LGIH) 1,814,575,258,000 24% 8.3 10% 1,486,060,000,000 760,825,000,000 1,554,953,000,000 378,507,000,000 144,765,000,000 215,345,000,000 1,777,020,257,000
Installed Building Products (IBP) 1,656,638,672,000 28% 14.9 7% 916,391,000,000 710,389,000,000 1,416,069,000,000 392,667,000,000 59,792,000,000 135,502,000,000 2,018,131,672,000
Tri Pointe Group (TPH) 1,609,924,458,000 8% 5.1 5% 3,877,550,000,000 1,790,907,000,000 3,101,114,000,000 234,784,000,000 191,286,000,000 282,611,000,000 1,438,408,457,000
Skyline Champion (SKY) 1,486,102,400,000 19% -683.3 -6% 722,491,000,000 290,323,000,000 1,409,670,000,000 266,234,000,000 -39,975,000,000 -2,037,000,000 1,391,785,400,000
Cavco Industries (CVCO) 1,440,342,020,000 22% 12.5 9% 756,083,000,000 205,746,000,000 980,385,000,000 214,528,000,000 70,213,000,000 97,926,000,000 1,227,318,019,000
Winnebago Industries (WGO) 1,177,203,420,000 15% 7.6 10% 1,083,203,000,000 480,210,000,000 1,991,466,000,000 307,839,000,000 109,720,000,000 189,116,000,000 1,438,670,420,000
St Joe (JOE) 982,245,954,000 0% 20.3 2% 906,247,000,000 364,107,000,000 91,547,000,000 0 17,787,000,000 42,713,000,000 865,338,954,000
MI Homes (MHO) 794,947,000,000 5% 4.7 5% 2,089,206,000,000 1,184,966,000,000 2,395,122,000,000 130,039,000,000 109,658,000,000 165,771,000,000 774,553,999,000
Century Communities (CCS) 772,169,100,000 0% 6.5 3% 2,410,373,000,000 1,513,144,000,000 2,366,682,000,000 0 75,855,000,000 113,118,000,000 737,412,099,000
William Lyon Homes (WLH) 759,301,977,000 6% 9.4 4% 2,946,122,000,000 1,919,720,000,000 2,115,684,000,000 123,283,000,000 104,873,000,000 225,973,000,000 2,135,159,977,000
Xinyuan Real Estate (XIN) 492,026,562,000 0% 8,033,712,672,000 7,288,067,523,000 0 0 0 0 -693,989,918,000
Beazer Homes (BZH) 437,460,783,000 13% -28.0 -1% 2,120,279,000,000 1,586,443,000,000 1,306,038,000,000 175,604,000,000 -21,344,000,000 -12,604,000,000 352,676,782,000
Green Brick Partners (GRBK) 418,473,000,000 21% 4.8 7% 832,961,000,000 321,809,000,000 687,246,000,000 143,293,000,000 57,456,000,000 78,728,000,000 379,620,999,000
Legacy Housing (LEGH) 304,257,109,000 41% 14.0 6% 251,816,000,000 42,634,000,000 83,715,000,000 33,954,000,000 15,846,000,000 21,483,000,000 301,835,108,000
Select Interior Concepts (SIC) 266,534,132,000 28% 8.9 0% 429,323,000,000 277,366,000,000 555,772,000,000 153,999,000,000 209,000,000 47,075,000,000 421,095,132,000
Stratus Properties (STRS) 221,187,850,000 18% 89.7 -0% 542,731,000,000 402,219,000,000 89,947,000,000 15,816,000,000 -397,000,000 2,092,000,000 187,548,849,000
Hovnanian Enterprises (HOV) 91,416,010,000 0% -2.9 0% 1,795,262,000,000 2,288,333,000,000 1,918,137,000,000 0 5,868,000,000 11,587,000,000 -33,381,991,000
New Home (NWHM) 72,550,058,000 10% -33.1 -2% 673,257,000,000 434,064,000,000 670,377,000,000 65,688,000,000 -14,087,000,000 -12,059,000,000 399,262,058,000
Comstock (CHCI) 17,314,740,000 2% -8.9 -8% 27,986,000,000 20,973,000,000 49,930,000,000 832,000,000 -2,361,000,000 -2,474,000,000 22,094,740,000

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