Filing Flows › Cavco Industries (CVCO) › Q4 FY25
Cavco Industries (CVCO) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed May 23, 2025
Cavco Industries (CVCO) reported revenue of $508M for the fourth quarter fiscal 2025 (Q4 FY25), +21% from a year earlier and -3% from the quarter before. Operating margin was 7.6%, net earnings $36.3M (7.1% of revenue).
Cavco Industries, Q4 FY25: revenue $508M (+21% year over year), operating margin 7.6%, net earnings $36.3M, operating cash flow $38.6M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $508M | -3% | +21% |
| Gross profit | $116M | -11% | +17% |
| Operating profit | $38.6M | -40% | +3% |
| Net earnings | $36.3M | -36% | +7% |
| Operating cash flow | $38.6M | +2% | +108% |
| Free cash flow | $32.5M | +0.5% | +126% |
What changed
Revenue was $508.4M in Q4 FY25, up 21% year over year and down 3% from the previous quarter. Factory-built housing was the largest line at 96% of revenue.
Gross margin was 22.8%, down 0.7 points from a year earlier. Operating profit was $38.6M, a 7.6% margin (down 1.3 points year over year). Of the extra revenue versus a year earlier, 1% reached operating profit, below the 9% margin then. Operating expenses grew 26% against revenue growth of 21%. Net earnings were $36.3M, up 7% year over year. The effective tax rate was 15.4%.
Operating cash flow was $38.6M (up 108% year over year), 106% of net earnings. Non-cash charges added back $5.0M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $4.7M. Capital expenditures of $6.1M left free cash flow of $32.5M.
Questions
What was Cavco Industries' revenue in the fourth quarter fiscal 2025?
Cavco Industries (CVCO) reported revenue of $508M for the fourth quarter fiscal 2025 (Q4 FY25), +21% from a year earlier and -3% from the quarter before.
Was Cavco Industries profitable in the fourth quarter fiscal 2025?
Operating profit was $38.6M (7.6% of revenue) and net earnings $36.3M.
Source: Cavco Industries 10-K on SEC EDGAR.