M.D.C. Holdings |
|
|---|---|
| 2017 Performance Final Grade: 69.05/1002016 Final Grade: 69.1/100 | C+/B- |
| Change YoY | ||
|---|---|---|
| Net debt-to-capital | 21.9% | -560bps |
| Pretax home building income (in millions) | $185.9 | 61.2% |
| Total SG&A/Total revenue | 12.5% | -- |
| Total SG&A(in millions) | $322 | 14.4% |
| Return on invested capital | 6.2% | 160bps |
| Return on equity | 10.4% | 240bps |
| Total shareholder return | 41% | -- |
| EPS | $2.54 | 36.6% |
| Change YoY | ||
|---|---|---|
| Community count | 151 | -13 |
| Share of lots optioned to total controlled | 32.7% | 67.4% |
| Change YoY | ||
|---|---|---|
| Home building gross margins | 16.6% | 50bps |
| Sales per month to break even (per community) |
2.03 | -- |
| Revenue per employee (in millions) |
$1.7 | -2.1% |
| Change YoY | ||
|---|---|---|
| Closings | 5,541 | 9.6% |
| Sales velocity (per community per month) |
3.2 | 12.7% |
| Unit backlog | 3,159 | 9.5% |
| Total revenue (in millions):$2,577 |
| HB revenue (in millions): $2,498 |
| Debt per share: $0.02 |
| Equity per basic share: $0.03 |
| HB pretax margin: 7.4% |
| Backlog value (in millions): $1,602.0 |
| Inventory (in millions):$1,829.7 |
| Lot supply (in years): 3.5 |
Larry A. Mizel, M.D.C.’s (NYSE: MDC) chairman and CEO, summed up the year: “Our strong performance in the 2017 full year is evidenced not only by double-digit percentage increases for home sale revenues and net income, but also by the steps we took to strengthen our financial position, enhance shareholder value, and prepare for future growth.” Mizel believes the “robust demand” is partly the result of the firm’s focus on affordable product.