Filing Flows › Smith Douglas Homes (SDHC) › Q4 2025
Smith Douglas Homes (SDHC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
Smith Douglas Homes (SDHC) reported revenue of $260M for the fourth quarter 2025 (Q4 2025), -9% from a year earlier and -0.6% from the quarter before. Operating margin was 6.5%, net earnings $3.5M (1.4% of revenue).
Smith Douglas Homes, Q4 2025: revenue $260M (-9% year over year), operating margin 6.5%, net earnings $3.5M, operating cash flow $9.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $260M | -0.6% | -9% |
| Gross profit | $51.7M | -6% | -29% |
| Operating profit | $16.9M | -2% | -44% |
| Net earnings | $3.5M | +66% | -14% |
| Operating cash flow | $9.8M | -57% | +78% |
| Free cash flow | $8.7M | -59% | +82% |
What changed
Revenue was $260.4M in Q4 2025, down 9% year over year and down 1% from the previous quarter.
Gross margin was 19.9%, down 5.6 points from a year earlier. Operating profit was $16.9M, a 6.5% margin (down 4.0 points year over year). Operating expenses fell 20% while revenue fell 9%. Net earnings were $3.5M, down 14% year over year. The effective tax rate was -0.8%.
Operating cash flow was $9.8M (up 78% year over year), 57% of net income including minority interests. Non-cash charges added back $783K of depreciation and $1.0M of share-based compensation. Working capital and other items used $9.1M. Capital expenditures of $1.0M left free cash flow of $8.7M.
Questions
What was Smith Douglas Homes' revenue in the fourth quarter 2025?
Smith Douglas Homes (SDHC) reported revenue of $260M for the fourth quarter 2025 (Q4 2025), -9% from a year earlier and -0.6% from the quarter before.
Was Smith Douglas Homes profitable in the fourth quarter 2025?
Operating profit was $16.9M (6.5% of revenue) and net earnings $3.5M.