Smith Douglas Homes (SDHC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SDHC SEC filings page.
Smith Douglas Homes Corp. (SDHC) reported $1.0B in revenue over the twelve months to Jun 30, 2026, down 1.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue has stalled while costs rise, compressing margins and turning reported profit into negative operating cash flow.
The key earnings-quality break is that FY2025 net income was$10.7M while operating cash flow was-$31.3M , so accounting profit did not translate into cash. Free cash flow moved from$15.2M in FY2024 to-$36.9M in FY2025, showing the deterioration extended beyond the income statement into cash available after reinvestment.
Revenue fell
The balance sheet expanded with assets up
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Smith Douglas Homes Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Smith Douglas Homes Corp.'s revenue declined 0.4% year-over-year, from $975.5M to $971.1M. This contraction results in a growth score of 70/100.
Smith Douglas Homes Corp. has a moderate D/E ratio of 0.51. This balance of debt and equity financing earns a leverage score of 61/100.
Not available for Smith Douglas Homes Corp., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Smith Douglas Homes Corp.'s operations used $31.3M of cash, and capex of $5.5M added to the outflow, for a free cash flow shortfall of $36.9M. This results in a cash flow score of 28/100.
Not available for Smith Douglas Homes Corp., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Smith Douglas Homes Corp. passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Smith Douglas Homes Corp. used $2.93 of operating cash (-$31.3M OCF vs $10.7M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Smith Douglas Homes Corp. generated $273.0M in revenue in Q2 2026. This represents an increase of 21.9% from the same quarter a year earlier. Against the prior quarter it is up 32.3%.
Smith Douglas Homes Corp. reported $246K in net income in Q2 2026. This represents a decrease of 89.6% from the same quarter a year earlier. Against the prior quarter it is down 56.5%.
Smith Douglas Homes Corp. earned $0.03 per diluted share (EPS) in Q2 2026. This represents a decrease of 88.5% from the same quarter a year earlier. Against the prior quarter it is down 50.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Smith Douglas Homes Corp. generated $3.9M in free cash flow in Q2 2026, representing cash available after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Smith Douglas Homes Corp. held $14.2M in cash against $66.0M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Smith Douglas Homes Corp.'s gross margin was 17.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.0 percentage points.
Smith Douglas Homes Corp.'s net profit margin was 0.1% in Q2 2026, showing the share of revenue converted to profit. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Smith Douglas Homes Corp.'s quarterly ROE was 0.3% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.
Not reported for Q2 2026.
Capital Allocation
Smith Douglas Homes Corp. spent $4.4M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 22.6%.
Smith Douglas Homes Corp. invested $599K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 71.8% from the same quarter a year earlier. Against the prior quarter it is up 10.9%.
Not reported for Q2 2026.
SDHC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $273.0M+21.9% | $206.4M-8.1% | $260.4M-9.4% | $262.0M-5.7% | $223.9M+1.4% | $224.7M+18.8% | $287.5M+32.3% | $277.8M+40.6% |
| Cost of Revenue | $225.1M+30.9% | $166.0M-3.0% | $208.7M-2.5% | $207.1M+1.4% | $172.0M+6.2% | $171.2M+22.5% | $214.2M+34.4% | $204.1M+45.2% |
| Gross Profit | $47.9M-7.7% | $40.5M-24.4% | $51.7M-29.5% | $55.0M-25.4% | $51.9M-12.1% | $53.5M+8.2% | $73.3M+26.4% | $73.7M+29.1% |
| SG&A Expenses | $41.9M+20.8% | $35.9M+8.8% | $36.0M-16.1% | $36.1M+5.7% | $34.7M+9.1% | $33.0M+19.8% | $42.9M+54.5% | $34.1M+48.7% |
| Interest Expense | $640K-17.1% | $848K+27.3% | $858K+46.4% | $898K+46.3% | $772K+30.6% | $666K-4.6% | $586K-7.9% | $614K+29.0% |
| Income Tax | $100K-86.6% | $253K-70.5% | -$130K-110.4% | $1.0M-42.0% | $744K-34.3% | $857K-6.9% | $1.3Mn/m | $1.8Mn/m |
| Net Income | $246K-89.6% | $565K-78.9% | $3.5M-14.3% | $2.1M-60.2% | $2.4M-35.1% | $2.7M-9.7% | $4.1M | $5.3M |
| EPS (Basic) | $0.03-88.5% | $0.06-80.0% | $0.39 | $0.24 | $0.26 | $0.30 | N/A | $0.60 |
| EPS (Diluted) | $0.03-88.5% | $0.06-80.0% | $0.41 | $0.24 | $0.26 | $0.30 | N/A | $0.58 |
| Diluted Shares (Avg) | 8M-6.9% | 9M-0.9% | N/A | 9M | 9M | 9M | N/A | 52M |
Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA.
SDHC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $592.1M+3.8% | $600.2M+16.8% | $557.6M+17.2% | $571.6M+24.2% | $570.2M+32.8% | $513.9M+28.1% | $475.9M+34.9% | $460.1M |
| Cash & Equivalents | $14.2M-15.4% | $28.0M+121.2% | $12.7M-43.0% | $14.8M-37.7% | $16.8M-3.0% | $12.7M-61.4% | $22.4M+13.1% | $23.7M+127.2% |
| Goodwill | $25.7M0.0% | $25.7M0.0% | $25.7M0.0% | $25.7M0.0% | $25.7M0.0% | $25.7M0.0% | $25.7M0.0% | $25.7M |
| Total Liabilities | $512.6M+4.6% | $518.1M+18.6% | $470.9M+17.1% | $489.4M+25.0% | $490.2M+33.5% | $437.1M+28.0% | $402.3M+14.1% | $391.6M |
| Long-Term Debt | $66.0M-10.9% | $68.5M+60.6% | $44.1M+1340.4% | $53.6M+1448.9% | $74.1M+1819.9% | $42.6M+904.2% | $3.1M-96.0% | $3.5M |
| Total Equity | $79.5M-0.6% | $82.1M+6.8% | $86.7M+17.8% | $82.2M+20.1% | $80.0M+28.8% | $76.9M+28.7% | $73.6Mn/m | $68.4M |
| Retained Earnings | $26.9M+33.4% | $26.7M+47.9% | $26.1M+69.4% | $22.6M+97.8% | $20.2M+219.4% | $18.0M+507.0% | $15.4Mn/m | $11.4M |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
SDHC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.5Mn/m | $338Kn/m | $9.8M+78.1% | $22.8M-0.6% | -$28.9M-74310.3% | -$34.9Mn/m | $5.5M-74.3% | $22.9M+20.1% |
| Depreciation & Amortization | $915K+57.8% | $857K+76.3% | $783K+12.3% | $700K+67.1% | $580K+57.6% | $486K+42.5% | $697K+146.3% | $419K+42.0% |
| Stock-Based Compensation | N/A | $1.2M+90.5% | N/A | N/A | N/A | $612K-31.4% | N/A | N/A |
| Capital Expenditures | $599K-71.8% | $540K-47.8% | $1.0M+49.7% | $1.4M+112.5% | $2.1M-0.8% | $1.0M+137.9% | $676K+231.4% | $638K+3.2% |
| Free Cash Flow | $3.9Mn/m | -$202Kn/m | $8.7M+82.1% | $21.4M-3.8% | -$31.1Mn/m | -$35.9Mn/m | $4.8M-77.2% | $22.3M+20.7% |
| Investing Cash Flow | -$587Kn/m | -$565Kn/m | -$1.1Mn/m | -$1.3Mn/m | -$2.1Mn/m | -$2.1Mn/m | -$926Kn/m | -$627Kn/m |
| Financing Cash Flow | -$17.7M-150.3% | $15.5M-43.3% | -$10.7Mn/m | -$23.4Mn/m | $35.2Mn/m | $27.3M+20.2% | -$5.9Mn/m | -$15.8M-128.6% |
| Share Buybacks | $4.4Mn/m | $5.7Mn/m | N/A | N/A | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
SDHC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.5%-5.6pp | 19.6%-4.2pp | 19.9%-5.6pp | 21.0%-5.5pp | 23.2%-3.5pp | 23.8%-2.3pp | 25.5%-1.2pp | 26.5%-2.4pp |
| Net Margin | 0.1%-1.0pp | 0.3%-0.9pp | 1.4%-0.1pp | 0.8%-1.1pp | 1.1%-0.6pp | 1.2%-0.4pp | 1.4% | 1.9% |
| Return on Equity | 0.3%-2.7pp | 0.7%-2.8pp | 4.1%-1.5pp | 2.6%-5.2pp | 3.0%-2.9pp | 3.5%-1.5pp | 5.6% | 7.8% |
| Return on Assets | 0.0%-0.4pp | 0.1%-0.4pp | 0.6%-0.2pp | 0.4%-0.8pp | 0.4%-0.4pp | 0.5%-0.2pp | 0.9% | 1.2% |
| Debt-to-Equity | 0.83-0.1x | 0.83+0.3x | 0.51+0.5x | 0.65+0.6x | 0.93+0.9x | 0.55+0.5x | 0.04 | 0.05 |
| Liabilities-to-Equity | 6.45+0.3x | 6.31+0.6x | 5.430.0x | 5.96+0.2x | 6.13+0.2x | 5.690.0x | 5.46 | 5.72 |
| Asset Turnover | 0.46+0.1x | 0.34-0.1x | 0.47-0.1x | 0.46-0.1x | 0.39-0.1x | 0.440.0x | 0.600.0x | 0.60 |
| FCF Margin | 1.4%+15.3pp | -0.1%+15.9pp | 3.4%+1.7pp | 8.2%+0.2pp | -13.9%-12.9pp | -16.0%-10.9pp | 1.7%-8.0pp | 8.0%-1.3pp |
Not reported in any period shown, so not listed: Operating Margin, Current Ratio.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Smith Douglas Homes Corp. SDHC | FY2025 | $971.1M | $10.7M | 1.1% | $85.6M | 52/100 |
| Logistic Properties of the Americas LPA | FY2025 | $50.1M | $10.5M | 20.9% | $78.3M | 55/100 |
| AMREP Corporation AXR | FY2026 | $52.8M | $10.3M | 19.5% | $111.2M | 75/100 |
| Belpointe PREP, LLC OZ | FY2025 | $9.2M | -$40.0M | N/A | $135.8M | 48/100 |
| Star Holdings Shares of Beneficial Interest STHO | FY2025 | $110.1M | -$64.2M | -58.3% | $94.4M | 5/100 |
| Seritage Growth Properties SRG | FY2025 | $18.2M | -$73.1M | N/A | $95.2M | 2/100 |
Where Smith Douglas Homes Corp. Ranks
Frequently Asked Questions
Smith Douglas Homes Corp. (SDHC) reported $971.1M in total revenue for fiscal year 2025. This represents a -0.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Smith Douglas Homes Corp. (SDHC) revenue declined by 0.4% year-over-year, from $975.5M to $971.1M in fiscal year 2025.
Yes, Smith Douglas Homes Corp. (SDHC) reported a net income of $6.5M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $10.7M, with a net profit margin of 1.1%.
As of fiscal year 2025, Smith Douglas Homes Corp. (SDHC) had $12.7M in cash and equivalents against $44.1M in long-term debt.
Smith Douglas Homes Corp. (SDHC) had a gross margin of 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Smith Douglas Homes Corp. (SDHC) had a net profit margin of 1.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Smith Douglas Homes Corp. (SDHC) has a return on equity of 12.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Smith Douglas Homes Corp. (SDHC) recorded an outflow of $36.9M in free cash flow during fiscal year 2025. This represents a -341.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Smith Douglas Homes Corp. (SDHC) recorded an outflow of $31.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Smith Douglas Homes Corp. (SDHC) had $557.6M in total assets as of fiscal year 2025, including both current and long-term assets.
Smith Douglas Homes Corp. (SDHC) invested $5.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Smith Douglas Homes Corp. (SDHC) had a debt-to-equity ratio of 0.51 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Smith Douglas Homes Corp. (SDHC) had a liabilities-to-equity ratio of 5.43 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Smith Douglas Homes Corp. (SDHC) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Smith Douglas Homes Corp. (SDHC) trades at 13.3x earnings, its market capitalization divided by $6.5M net income, trailing 12 months to June 30, 2026. The market capitalization is $85.6M as of Nov 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Smith Douglas Homes Corp. (SDHC) trades at 0.1x sales, its market capitalization divided by $1.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $85.6M as of Nov 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Smith Douglas Homes Corp. (SDHC) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
For every $1 of reported earnings, Smith Douglas Homes Corp. (SDHC) used $2.93 of operating cash (-$31.3M OCF vs $10.7M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Smith Douglas Homes Corp. (SDHC) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Smith Douglas Homes Corp. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.