/SDHCFinancial History
Annual Financials
| Fiscal Year | Revenue | Gross Profit | Gross Margin | Net Income | EPS (Diluted) | Total Assets | Total Equity |
|---|---|---|---|---|---|---|---|
| FY2025 | $971M | $212M | 21.8% | $68M | $1.19 | $558M | $444M |
| FY2024 | $975M | $256M | 26.2% | $112M | $1.81 | $476M | $402M |
| FY2023 | $765M | $216M | 28.3% | $123M | $2.40 | $353M | $209M |
| FY2022 | $755M | $223M | 29.5% | $140M | $2.74 | $223M | $165M |
Builder Operating KPIsExtracted from earnings releases
| Period | Orders | Closings | Cancel % | Backlog | Backlog $ | ASP | Communities | Lots Owned | Lots Ctrl | Inventory | Specs |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Q4 FY2025 | 532 | 780 | 16.1% | 512 | $173M | $334K | 100 | 1,712 | 20,556 | — | 12 |
| Q3 FY2025 | 690 | 788 | 11.2% | 760 | $259M | $333K | 98 | 1,739 | 22,561 | — | — |
| Q2 FY2025 | 736 | 669 | 10.0% | 858 | $293M | $335K | 92 | 1,925 | 22,899 | — | — |
| Q1 FY2025 | 768 | 671 | 8.1% | 791 | $270M | $335K | 87 | 1,883 | 18,559 | — | — |
| Q4 FY2024 | 569 | 836 | 14.8% | 694 | $236M | $344K | 78 | 1,776 | 17,746 | — | 6 |
| Q3 FY2024 | 600 | 812 | 11.4% | 961 | $332M | $342K | 74 | 1,746 | 16,132 | — | — |
| Q2 FY2024 | 715 | 653 | 11.8% | 1,173 | $405M | $338K | 75 | 1,675 | 14,167 | — | — |
| Q1 FY2024 | 765 | 566 | 10.6% | 1,110 | $381M | $334K | 70 | 1,589 | 12,528 | — | — |
| Q4 FY2023 | 2,368 | 2,297 | 10.5% | 912 | $311M | $333K | 69 | 1,320 | 11,501 | — | 5 |
| Q4 FY2022 | 1,928 | 2,200 | 10.9% | 771 | $259M | $343K | 53 | 965 | 7,848 | — | — |
Source: SEC 8-K earnings releases, extracted via regex with provenance tracking. Showing most recent 20 quarters.
Management Sentiment Analysis
Scored from earnings release language using ML analysis. Range: -1.0 (negative) to +1.0 (positive).
Current Posture
Q4 FY2025
Score: -0.10
Order volume and home closings declined in Q4 with cancellations rising, reflecting affordability pressures and inconsistent sales conditions.
Gross margins compressed significantly year-over-year due to aggressive discounting and affordability challenges despite management's efforts to control pricing and incentives.
No explicit commentary on labor availability or wage pressures, implying a neutral stance on workforce conditions.
Active community count increased 28% and total controlled lots grew 14%, indicating a strong land position and pipeline expansion.
Management expressed cautious optimism with a disciplined growth strategy and early 2026 sales activity improvement, but noted ongoing market challenges.
Affordability pressures, competitive discounting, and sales variability present clear headwinds, contributing to a challenging selling environment.
Recent Trend
Sentiment for Smith Douglas Homes Corp. shifted from cautious optimism in Q2 FY2025 to a neutral stance in Q3, before turning cautiously negative in Q4, reflecting increasing headwinds. Demand initially showed moderate growth but weakened notably by year-end amid affordability pressures and rising cancellations, while margins steadily compressed throughout the year due to cost pressures and discounting. Despite consistent strength in land acquisition and community expansion, management’s confidence tempered as risks from market challenges and uneven sales intensified, signaling a more cautious outlook heading into 2026.
Builder vs. Industry Sentiment
Orange = SDHC · Gray = Industry average (Q1 FY2026)