New Home Co. |
|
|---|---|
| 2017 Performance Final Grade: 70.96/1002016 Final Grade: 71.5/100 | B-/B |
| Change YoY | ||
|---|---|---|
| Net debt-to-capital | 33.5% | 940bps |
| Pretax home building income (in millions) | $27 | 5.8% |
| Total SG&A/Total revenue | 7.9% | -- |
| Total SG&A(in millions) | $59 | 12.2% |
| Return on invested capital | 3.6% | -270bps |
| Return on equity | 6.7% | -230bps |
| Total shareholder return | 7% | -- |
| EPS | $0.82 | -19.6% |
| Change YoY | ||
|---|---|---|
| Community count | 17 | +2 |
| Share of lots optioned to total controlled | 65.6% | 4.9% |
| Change YoY | ||
|---|---|---|
| Home building gross margins | 15.2% | 120bps |
| Sales per month to break even (per community) |
1.23 | -- |
| Revenue per employee (in millions) |
$2.7 | 11.2% |
| Change YoY | ||
|---|---|---|
| Closings | 341 | 36.4% |
| Sales velocity (per community per month) |
2.0 | 43.7% |
| Unit backlog | 153 | 93.7% |
| Total revenue (in millions):$751 |
| HB revenue (in millions): $560 |
| Debt per share: $15.2 |
| Equity per basic share: $12.66 |
| HB pretax margin: 4.8% |
| Backlog value (in millions): $162.3 |
| Inventory (in millions):$416.1 |
| Lot supply (in years): 8.1 |
New Home (NYSE: NWHM) reported healthy buyer demand in California during the year that, along with a shift to more affordably priced product, drove increases in monthly sales absorption rates. Net new-home orders were up 63% for the full year, and the firm ended 2017 with a 94% increase in backlog units. It plans to build on this momentum in 2018 as it increases community count and expands product offerings to deliver more homes at lower, more diverse price points.