Filing Flows

Filing Flows › Materials › Cavco Industries (CVCO)

Cavco Industries (CVCO) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Oct 30, 2026 · Cavco Industries (CVCO) Q2 FY27 earnings results →

Q2 FY27 Revenue up 18% year over year to $656M · 8¢ of every $1 of revenue kept as net profit · operating margin 10.6%

Cavco Industries made $656M in Q2 FY27 (+18% Y/Y): Factory-built housing $634M, Financial services $22.6M. Operating margin 10.6%, net earnings $55.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$656M
Year over year+18%
Operating margin10.6%
Net earnings$55.4M
Operating cash flow$96.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $656.4M in Q2 FY27, up 18% year over year and up 8% from the previous quarter. Factory-built housing was the largest line at 97% of revenue. Factory-built housing added $98.6M year over year (up 18%), 99% of the total change.

Gross margin was 22.5%, down 1.7 points from Q2 FY26. Operating profit was $69.9M, a 10.6% margin (down 0.5 points year over year). Of the extra revenue versus Q2 FY26, 8% reached operating profit, below the 11% margin then. Operating expenses grew 8% against revenue growth of 18%. Net earnings were $55.4M, up 6% year over year. The effective tax rate was 24.4%.

Operating cash flow was $96.4M (up 23% year over year), 174% of net earnings. Non-cash charges added back $6.9M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $31.0M. Capital expenditures of $29.7M left free cash flow of $66.7M.

Quarterly history

Cavco Industries revenue by quarterCavco Industries revenue by quarter$508MQ4 FY25$557MQ1 FY26$557MQ2 FY26$581MQ3 FY26$550MQ4 FY26$610MQ1 FY27$656MQ2 FY27
Cavco Industries net earnings by quarterCavco Industries net earnings by quarter$36.3MQ4 FY25$51.6MQ1 FY26$52.4MQ2 FY26$44.1MQ3 FY26$42.5MQ4 FY26$42.3MQ1 FY27$55.4MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QOct 30, 2026$656M+18%10.6%$55.4M$96.4M
Q1 FY2710-QJul 31, 2026$610M+10%8.6%$42.3M$74.5M
Q4 FY2610-KMay 22, 2026$550M+8%9.4%$42.5M$67.4M
Q3 FY2610-QFeb 2, 2026$581M+11%9.4%$44.1M$66.1M
Q2 FY2610-QOct 31, 2025$557M+10%11.2%$52.4M$78.5M
Q1 FY2610-QAug 4, 2025$557M+17%10.8%$51.6M$55.5M
Q4 FY2510-KMay 23, 2025$508M+21%7.6%$36.3M$38.6M

Charts

Cavco Industries: revenue growth, year over year and quarter over quarterCavco Industries: revenue growth, year over year and quarter over quarterY/YQ/Q+21%Q4 FY25+17%+10%Q1 FY26+10%0%Q2 FY26+11%+4%Q3 FY26+8%-5%Q4 FY26+10%+11%Q1 FY27+18%+8%Q2 FY27
Latest (Q2 FY27): Y/Y +18%, Q/Q +8%.
Cavco Industries: where the cash came from (+) and went (−), TTM to Q2 FY27Cavco Industries: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$304MOther investing−$192MBuybacks−$134MCash drawn (+) / kept (−)$102MCapital spending−$71.7MTaxes on employees’ shares−$9.0MShares issued$407KNet borrowing (+) / repaid (−)−$363KAsset & business sales$220K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Cavco Industries: profit against cash, quarter by quarterCavco Industries: profit against cash, quarter by quarterNet incomeOperating cash flow$56.5M$37.8MQ3 FY25$36.3M$38.6MQ4 FY25$51.6M$55.5MQ1 FY26$52.4M$78.5MQ2 FY26$44.1M$66.1MQ3 FY26$42.5M$67.4MQ4 FY26$42.3M$74.5MQ1 FY27$55.4M$96.4MQ2 FY27
Latest (Q2 FY27): Net income $55.4M, Operating cash flow $96.4M.
Cavco Industries: diluted shares by fiscal yearCavco Industries: diluted shares by fiscal year9MFY219MFY229MFY239MFY248MFY258MFY26
-14.5% since FY21: buybacks shrank the count.
Cavco Industries: long-term debt falling due (FY26)Cavco Industries: long-term debt falling due (FY26)$338K2027$310K2028$283K2029$261K2030$244K2031$6.0MLater
Cash $237M, short-term investments $16.2M, long-term debt — at 2026-03-28.
Cavco Industries in its industry: growth against margin (4 companies, SIC 2451)Cavco Industries in its industry: growth against margin (4 companies, SIC 2451)revenue growth, year over year →↑ operating marginmedian +18%median 17%SKYLEGHNOBHCVCO (+18%, 11%)
Mobile Homes; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

About Cavco Industries

Cavco Industries, Inc., a Delaware corporation, was formed on June 30, 2003, as a successor corporation to previous Cavco entities operating since 1965. Headquartered in Phoenix, Arizona, we design and produce factory-built homes primarily distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. We are one of the largest producers of manufactured homes in the United States, based on reported wholesale shipments. We are also a leading producer of park model RVs, vacation cabins and factory-built commercial structures. Our finance subsidiary, CountryPlace Acceptance Corp.

In its own words, from its 10-K, filed May 22, 2026.

Cavco Industries against its Mobile Homes peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +18% against the peers' median +18%. Operating margin: 10.6% against the peers' median 17.4%.

CompanyQuarterRevenueY/YOp. margin
CVCO Cavco IndustriesQ2 FY27$656M+18%10.6%
SKY Champion HomesQ2 FY27$727M+6%9.0%
LEGH Legacy HousingQ3 2026$69.7M+72%33.6%
NOBH Nobility HomesQ3 FY26$12.1M+1%17.4%

Source: Cavco Industries 10-Q on SEC EDGAR · CIK 278166 · Mobile Homes

Guidance and outlook

Cavco Industries: what its forward-looking statements are about (10-Q filed 2026-10-30)Cavco Industries: what its forward-looking statements are about (10-Q filed 2026-10-30)Other2Costs1Tax1Deals1Financing1Buybacks & dividends1
7 statements; tone +0.14 (−1 all cautious, +1 all confident); 3 hedged.
Cavco Industries: outlook statements against the filing beforeCavco Industries: outlook statements against the filing beforeConfident1

13F: who owns CVCO and who is buying

Largest holders of CVCO (13F)Largest holders of CVCO (13F)BlackRock$767MVanguard Group$443MCapital World Investors$325MState Street$258MVanguard Capital Management LLC$214MVanguard Portfolio Management LLC$203MBoston Partners$200MGeode Capital Management, LLC$159MDimensional Fund Advisors LP$125MAmeriprise Financial$111M
Funds' net buying of CVCO by quarter (13F)Funds' net buying of CVCO by quarter (13F)$56.5M2024-09$34.7M2024-12$27.4M2025-03−$18.9M2025-06$47.9M2025-09−$68.5M2025-12−$6.1M2026-03−$30.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CVCO

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

Compare CVCO with

中文版：Cavco Industries（CVCO）财报

Español · Français