STOCK TITAN
  1. Home
  2. Financials
  3. SDHC

SMITH DOUGLAS HOMES CORP Financials

SDHC
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows SMITH DOUGLAS HOMES CORP (SDHC) financial statements, including the 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).

Rhea AI SDHC FY2025

Flat sales masked a more balance-sheet-intensive business, as margin compression turned modest earnings into cash burn.

Between FY2024 and FY2025, revenue stayed near $971M, but total assets climbed from $476M to $558M and operating cash flow swung from $19.1M to -$31.3M. That mix points to rising capital intensity: the company needed a bigger asset base to support nearly unchanged sales, so earnings quality weakened because reported profit no longer translated into cash after two prior years of positive operating cash flow.

Gross margin fell from 26.2% in FY2024 to 21.9% in FY2025, showing the revenue base was less profitable before overhead and financing costs. That extends a broader slide from 28.3% in FY2023 and helps explain why modest cost growth became much more damaging once SG&A and interest had to be covered.

Free cash flow reached -$36.9M in FY2025 versus $15.2M in FY2024, confirming that the cash strain was not just a capital-spending issue. With debt-to-equity still above 5.4x and cash down to $12.7M, the company has a thinner self-funding cushion than its still-positive net income suggests.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score pending refresh

We are recalculating SMITH DOUGLAS HOMES CORP's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial
1/6

SMITH DOUGLAS HOMES CORP passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality
-2.93x

For every $1 of reported earnings, SMITH DOUGLAS HOMES CORP generates $-2.93 in operating cash flow (-$31.3M OCF vs $10.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue
$971.1M
YoY-0.4%

SMITH DOUGLAS HOMES CORP generated $971.1M in revenue in fiscal year 2025. This represents a decrease of 0.4% from the prior year.

EBITDA
N/A
Net Income
$10.7M
YoY-33.5%

SMITH DOUGLAS HOMES CORP reported $10.7M in net income in fiscal year 2025. This represents a decrease of 33.5% from the prior year.

EPS (Diluted)
$1.19
YoY-34.3%

SMITH DOUGLAS HOMES CORP earned $1.19 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 34.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$36.9M
YoY-341.8%

SMITH DOUGLAS HOMES CORP generated -$36.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 341.8% from the prior year.

Cash & Debt
$12.7M
YoY-43.0%

SMITH DOUGLAS HOMES CORP held $12.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
21.9%
YoY-4.4pp

SMITH DOUGLAS HOMES CORP's gross margin was 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.4 percentage points from the prior year.

Operating Margin
N/A
Net Margin
1.1%
YoY-0.6pp

SMITH DOUGLAS HOMES CORP's net profit margin was 1.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.

Return on Equity
12.3%
YoY-9.5pp

SMITH DOUGLAS HOMES CORP's ROE was 12.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.5 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$5.5M
YoY+42.1%

SMITH DOUGLAS HOMES CORP invested $5.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 42.1% from the prior year.

SDHC Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $206.4M-20.7% $260.4M-0.6% $262.0M+17.0% $223.9M-0.4% $224.7M-21.8% $287.5M+3.5% $277.8M+25.8% $220.9M
Cost of Revenue $166.0M-20.5% $208.7M+0.8% $207.1M+20.4% $172.0M+0.5% $171.2M-20.1% $214.2M+4.9% $204.1M+26.1% $161.9M
Gross Profit $40.5M-21.8% $51.7M-5.9% $55.0M+5.8% $51.9M-3.0% $53.5M-27.0% $73.3M-0.5% $73.7M+24.8% $59.1M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $35.9M-0.2% $36.0M-0.3% $36.1M+4.0% $34.7M+5.2% $33.0M-23.1% $42.9M+25.7% $34.1M+7.3% $31.8M
Operating Income N/A N/A N/A N/A N/A N/A N/A N/A
Interest Expense $848K-1.2% $858K-4.5% $898K+16.3% $772K+15.9% $666K+13.7% $586K-4.6% $614K+3.9% $591K
Income Tax $253K+294.6% -$130K-112.7% $1.0M+37.2% $744K-13.2% $857K-31.5% $1.3M-29.0% $1.8M+55.6% $1.1M
Net Income $565K-83.9% $3.5M+65.6% $2.1M-10.1% $2.4M-11.9% $2.7M-34.6% $4.1M-23.2% $5.3M+46.7% $3.6M
EPS (Diluted) $0.06 N/A $0.24-7.7% $0.26-13.3% $0.30 N/A $0.58+45.0% $0.40

SDHC Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $600.2M+7.6% $557.6M-2.4% $571.6M+0.2% $570.2M+11.0% $513.9M+8.0% $475.9M+3.4% $460.1M+7.2% $429.3M
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents $28.0M+119.7% $12.7M-13.8% $14.8M-11.9% $16.8M+32.6% $12.7M-43.4% $22.4M-5.7% $23.7M+37.1% $17.3M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
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 $518.1M+10.0% $470.9M-3.8% $489.4M-0.2% $490.2M+12.2% $437.1M+8.6% $402.3M+2.7% $391.6M+6.7% $367.2M
Current Liabilities N/A N/A N/A N/A N/A N/A N/A N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $82.1M-5.4% $86.7M+5.5% $82.2M+2.7% $80.0M+4.1% $76.9M+4.4% $73.6M+7.6% $68.4M+10.2% $62.1M
Retained Earnings $26.7M+2.2% $26.1M+15.6% $22.6M+11.9% $20.2M+11.9% $18.0M+17.0% $15.4M+35.0% $11.4M+80.7% $6.3M

SDHC Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $338K-96.5% $9.8M-57.1% $22.8M+178.6% -$28.9M+17.1% -$34.9M-737.3% $5.5M-76.1% $22.9M+58589.7% $39K
Capital Expenditures $540K-46.6% $1.0M-25.4% $1.4M-36.1% $2.1M+104.9% $1.0M+53.1% $676K+6.0% $638K-70.2% $2.1M
Free Cash Flow -$202K-102.3% $8.7M-59.1% $21.4M+168.9% -$31.1M+13.6% -$35.9M-848.6% $4.8M-78.4% $22.3M+1160.1% -$2.1M
Investing Cash Flow -$565K+46.7% -$1.1M+21.3% -$1.3M+36.4% -$2.1M-0.6% -$2.1M-127.4% -$926K-47.7% -$627K+77.0% -$2.7M
Financing Cash Flow $15.5M+244.2% -$10.7M+54.2% -$23.4M-166.5% $35.2M+28.9% $27.3M+562.4% -$5.9M+62.7% -$15.8M-23.8% -$12.8M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $5.7M N/A N/A N/A $0 N/A N/A N/A

SDHC Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 19.6%-0.3pp 19.9%-1.1pp 21.0%-2.2pp 23.2%-0.6pp 23.8%-1.7pp 25.5%-1.0pp 26.5%-0.2pp 26.7%
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin 0.3%-1.1pp 1.4%+0.5pp 0.8%-0.3pp 1.1%-0.1pp 1.2%-0.2pp 1.4%-0.5pp 1.9%+0.3pp 1.7%
Return on Equity 0.7%-3.4pp 4.1%+1.5pp 2.6%-0.4pp 3.0%-0.5pp 3.5%-2.1pp 5.6%-2.2pp 7.8%+1.9pp 5.9%
Return on Assets 0.1%-0.5pp 0.6%+0.3pp 0.4%-0.0pp 0.4%-0.1pp 0.5%-0.3pp 0.9%-0.3pp 1.2%+0.3pp 0.9%
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 6.31+0.9 5.43-0.5 5.96-0.2 6.13+0.4 5.69+0.2 5.46-0.3 5.72-0.2 5.91
FCF Margin -0.1%-3.5pp 3.4%-4.8pp 8.2%+22.0pp -13.9%+2.1pp -16.0%-17.7pp 1.7%-6.3pp 8.0%+9.0pp -0.9%

Similar Companies

Five Point Holdi FPH
$372.7M
Sky Harbour Group SKYH
$369.0M
Forestar Group Inc FOR
$1.4B
Century Communit CCS
$1.9B
Vesta Real Estate Corporation VTMX
$3.2B

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 $10.7M in fiscal year 2025, with a net profit margin of 1.1%.

SMITH DOUGLAS HOMES CORP (SDHC) reported diluted earnings per share of $1.19 for fiscal year 2025. This represents a -34.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

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) generated -$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) generated -$31.3M in operating cash flow during fiscal year 2025, representing cash generated from 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 5.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder 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.

Based on fiscal year 2025 data, SMITH DOUGLAS HOMES CORP (SDHC) had $12.7M in cash against an annual operating cash burn of $31.3M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

SMITH DOUGLAS HOMES CORP (SDHC) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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.

SMITH DOUGLAS HOMES CORP (SDHC) has an earnings quality ratio of -2.93x, considered low quality (accrual-driven). 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.

Back to top