Affordable/Subsidized, Move Up, Entry Level, Luxury/Custom, Active Adult, Vacation/Second Home
Firm Description
2018 Report Card
C+/B-
2018 Performance Final Grade:
67.8/100
2017 Final Grade:
71.0/100
The New Home Company, Inc. (NYSE:NWHM), Aliso Viejo, California, took another step forward in implementing its strategy to reach more buyers through more affordably priced communities as evidenced by a 46% increase in deliveries compared to 2017 and a 38% reduction in the average selling price of homes delivered. Still, it was not profitable. Revenue fell by 11.1%, posted a net loss for the year, and saw its debt to total capital ratio climb to 61.8%. But its gross margin increased by 160 basis points to 24.7%.
Total revenue (in millions):
$667.6
HB revenue (in millions):
$504.0
Debt per share:
$18.72
Equity per basic share:
$11.59
HB pretax margin:
-4.9%
Backlog value (in millions):
$207.1
Inventory (in millions):
566.3
Lot supply (in years):
5.6
Financial 21.1/40
Net debt-to-capital:
55.0%
Pretax home building income (in millions):
$(24,706)
Total SG&A/Total revenue:
9.3%
Total SG&A (in millions):
5.1%
Return on invested capital:
-2.3%
Return on equity:
-5.6%
Total shareholder return:
-49.4%
EPS:
-184.1%
Land 17.8/20
Community count:
17.6%
Share of lots optioned to total controlled:
40.7%
Operations 11.7/20
Home building gross margins:
11.4%
Sales per month to break even (per community):
2.4
Revenue per employee (in millions):
$2,073
Sales and Marketing 17.2/20
Closings:
46.0%
Sales velocity (per community per month):
2.2
Unit backlog:
24.8%
New Home Co. is a new generation home builder focused on the design, construction and sale of innovative and consumer-driven homes
in major metropolitan areas within select growth markets in California,
including coastal Southern California, the San Francisco Bay area and
metro Sacramento.
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