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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt 1.32
CVCO's Cash to Debt is ranked higher than
81% of the 505 Companies
in the Global Residential Construction industry.

( Industry Median: 0.48 vs. CVCO: 1.32 )
CVCO' s 10-Year Cash to Debt Range
Min: 0.41   Max: No Debt
Current: 1.32

Equity to Asset 0.63
CVCO's Equity to Asset is ranked higher than
77% of the 506 Companies
in the Global Residential Construction industry.

( Industry Median: 0.49 vs. CVCO: 0.63 )
CVCO' s 10-Year Equity to Asset Range
Min: 0.38   Max: 0.84
Current: 0.63

0.38
0.84
Interest Coverage 6.51
CVCO's Interest Coverage is ranked lower than
54% of the 311 Companies
in the Global Residential Construction industry.

( Industry Median: 25.35 vs. CVCO: 6.51 )
CVCO' s 10-Year Interest Coverage Range
Min: 2.22   Max: 9999.99
Current: 6.51

2.22
9999.99
F-Score: 7
Z-Score: 4.28
M-Score: -2.61
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 6.51
CVCO's Operating margin (%) is ranked higher than
74% of the 509 Companies
in the Global Residential Construction industry.

( Industry Median: 5.10 vs. CVCO: 6.51 )
CVCO' s 10-Year Operating margin (%) Range
Min: -10.05   Max: 11.61
Current: 6.51

-10.05
11.61
Net-margin (%) 3.89
CVCO's Net-margin (%) is ranked higher than
68% of the 509 Companies
in the Global Residential Construction industry.

( Industry Median: 3.96 vs. CVCO: 3.89 )
CVCO' s 10-Year Net-margin (%) Range
Min: -28.56   Max: 7.94
Current: 3.89

-28.56
7.94
ROE (%) 7.31
CVCO's ROE (%) is ranked higher than
72% of the 505 Companies
in the Global Residential Construction industry.

( Industry Median: 6.46 vs. CVCO: 7.31 )
CVCO' s 10-Year ROE (%) Range
Min: -6.09   Max: 12.9
Current: 7.31

-6.09
12.9
ROA (%) 4.54
CVCO's ROA (%) is ranked higher than
76% of the 511 Companies
in the Global Residential Construction industry.

( Industry Median: 3.06 vs. CVCO: 4.54 )
CVCO' s 10-Year ROA (%) Range
Min: -4   Max: 9.6
Current: 4.54

-4
9.6
ROC (Joel Greenblatt) (%) 32.36
CVCO's ROC (Joel Greenblatt) (%) is ranked higher than
93% of the 509 Companies
in the Global Residential Construction industry.

( Industry Median: 9.00 vs. CVCO: 32.36 )
CVCO' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -18.67   Max: 221.97
Current: 32.36

-18.67
221.97
Revenue Growth (3Y)(%) 36.50
CVCO's Revenue Growth (3Y)(%) is ranked higher than
97% of the 404 Companies
in the Global Residential Construction industry.

( Industry Median: 4.90 vs. CVCO: 36.50 )
CVCO' s 10-Year Revenue Growth (3Y)(%) Range
Min: 0   Max: 59.4
Current: 36.5

0
59.4
EBITDA Growth (3Y)(%) 68.10
CVCO's EBITDA Growth (3Y)(%) is ranked higher than
98% of the 333 Companies
in the Global Residential Construction industry.

( Industry Median: 2.50 vs. CVCO: 68.10 )
CVCO' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 0   Max: 376.2
Current: 68.1

0
376.2
EPS Growth (3Y)(%) 67.90
CVCO's EPS Growth (3Y)(%) is ranked higher than
94% of the 283 Companies
in the Global Residential Construction industry.

( Industry Median: 8.00 vs. CVCO: 67.90 )
CVCO' s 10-Year EPS Growth (3Y)(%) Range
Min: 0   Max: 215.1
Current: 67.9

0
215.1
» CVCO's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2013

CVCO Guru Trades in Q4 2013

Jim Simons 12,882 sh (+20.39%)
Columbia Wanger 759,000 sh (unchged)
Martin Whitman 1,809,108 sh (unchged)
Third Avenue Management 2,004,502 sh (-0.42%)
Mario Gabelli 466,295 sh (-0.65%)
Chuck Royce 190,110 sh (-13.28%)
» More
Q1 2014

CVCO Guru Trades in Q1 2014

Jim Simons 18,016 sh (+39.85%)
Columbia Wanger 759,000 sh (unchged)
Martin Whitman 1,809,108 sh (unchged)
Mario Gabelli 455,795 sh (-2.25%)
Third Avenue Management 1,935,758 sh (-3.43%)
Chuck Royce 156,220 sh (-17.83%)
» More
Q2 2014

CVCO Guru Trades in Q2 2014

Joel Greenblatt 28,235 sh (New)
Jim Simons 55,800 sh (+209.72%)
Columbia Wanger 759,000 sh (unchged)
Mario Gabelli 448,195 sh (-1.67%)
Chuck Royce 146,020 sh (-6.53%)
Third Avenue Management 1,726,891 sh (-10.79%)
Martin Whitman 1,783,416 sh (-1.42%)
» More
Q3 2014

CVCO Guru Trades in Q3 2014

Jim Simons 104,200 sh (+86.74%)
Columbia Wanger 871,300 sh (+14.8%)
Mario Gabelli 447,750 sh (-0.1%)
Third Avenue Management 1,717,443 sh (-0.55%)
Chuck Royce 136,020 sh (-6.85%)
Joel Greenblatt 5,366 sh (-81%)
Martin Whitman 1,590,793 sh (-10.8%)
» More
» Details

Insider Trades

Latest Guru Trades with CVCO

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2014-09-30 Reduce -81%0.02%$66.32 - $86.92 $ 79.598%5366
Martin Whitman 2014-07-31 Reduce -10.8%0.71%$73.06 - $87.41 $ 79.591%1590793
Third Avenue Management 2014-06-30 Reduce -10.79%0.31%$73.06 - $84.02 $ 79.592%1726891
Joel Greenblatt 2014-06-30 New Buy0.03%$73.06 - $84.02 $ 79.592%28235
Third Avenue Management 2013-09-30 Add 1282.09%2.04%$50.69 - $59.86 $ 79.5946%2013020
Martin Whitman 2013-07-31 New Buy4.2%$44.28 - $55.4 $ 79.5960%1809108
Third Avenue Management 2013-03-31 Reduce -57.44%0.24%$44.49 - $51.86 $ 79.5965%164540
Third Avenue Management 2012-12-31 Reduce -20.6%0.11%$44.03 - $51.5 $ 79.5966%386578
Third Avenue Management 2012-09-30 Reduce -41.57%0.42%$44.86 - $50.43 $ 79.5969%486860
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on Cavco Industries Inc

Third Avenue Management Comments on Cavco Industries - Jul 23, 2014

The Fund's largest position is the common stock of Cavco industries inc. (CVCO), which represented 5.6% of the Fund's net assets as of quarter end. Since Cavco is not a household name, we thought it would be helpful to discuss the history of the investment and why we are so excited about its future. The Cavco investment originated during the 2008 financial crisis. Fleetwood Enterprises, a leading producer of manufactured homes and recreational vehicles ("RVs") had filed for bankruptcy, and its announcement of the sale of its RV business in a bankruptcy auction indicated that the manufactured housing business could be available on similar terms. Fund Management had long followed the manufactured housing industry and knew that Fleetwood had a strong brand name and reputation as a quality manufacturer. Fund Management contacted Joe Stegmayer, the Chairman and CEO of Cavco, to discuss the situation and learned that Cavco was also interested in the Fleetwood manufactured housing business. Fund Management had known Joe Stegmayer for many years, dating back to when he was president of industry leader Clayton Homes, and had tremendous respect for his managerial capabilities. Cavco was a small (three plants) regional manufactured housing producer based Arizona. Under Joe Stegmayer's prudent management, the company had maintained generally profitable operations and a strong, debt free balance sheet during the long industry downturn (See Manufactured Housing Shipments chart that follows on the next page ). Therefore, the company was in position to consider acquisitions. However, given Fleetwood's considerably larger size, Cavco wanted a financial partner for the acquisition, and, hence, we formed a 50-50 joint venture company ("Fleetwood Homes") to purchase the Fleetwood assets. The Fund and Cavco each contributed $35 million to fund the joint venture.


Fleetwood's manufactured housing assets, consisting mostly of seven manufacturing plants, were purchased by our joint venture for $26 million in august 2009 at a bankruptcy auction. The only other bidder for the assets was Clayton Homes, which is now owned by Berkshire Hathaway. Under the terms of our joint venture agreement, Cavco operated the assets. Impressively, despite continued industry weakness, Cavco was able to operate Fleetwood profitably in 2010. Therefore, when a larger, vertically integrated competitor, palm Harbor, experienced financial distress in 2010, Fund Management was willing to make an additional contribution to the joint venture ($36 million) to pursue this attractive expansion opportunity. after much negotiation and diligence on palm Harbor, the Fleetwood Homes joint venture agreed to provide debtor in possession ("Dip") financing for palm Harbor's November 2010 bankruptcy filing. In 2011, Fleetwood Homes rolled this Dip loan into a purchase of substantially all of palm Harbor's assets for $84 million at another bankruptcy auction. These assets consisted mostly of five manufacturing facilities, 49 retail outlets and 100% of the common stock of profitable insurance and finance subsidiaries that had not filed for bankruptcy.


In 2013, the Fund sold its stake in the Fleetwood Homes joint venture to its partner, Cavco, in exchange for approximately 21% of Cavco's common stock. The sale price equated to a 29% premium to our cost, but, more importantly, the Fund received Cavco stock at $49 per share, compared to $78 as of quarter end. Fund Management wanted to take Cavco common stock as opposed to cash because we believe the company's long- term prospects are very attractive.


Despite the strong recent appreciation of Cavco common, we believe that there is still considerable upside as the company benefits from the acquisitions of Fleetwood and palm Harbor and a manufactured housing industry recovery. as the chart below illustrates, the manufactured housing industry remain s extremely depressed. 2013 industry shipments of 60,000 are only slightly above the trough of 50,000 in 2009-2010. The twenty year average shipment level of 183,000 is more than triple the current level. One factor that should drive a more significant industry recovery is improved financing availability. Following the burst of the easy credit driven industry boom in the late 1990s, most manufactured housing lenders exited the industry. However, recent performance of manufactured home mortgages underwritten over the last ten years, including those by the finance subsidiary that Cavco purchased from palm Harbor, has been healthy (much better than sub-prime site built mortgages). Freddie Mac's recent announcement of a program to purchase the debt of manufactured housing community developers is a positive sign, and we expect more financing options to become available for the industry. The paucity of financing in the manufactured housing industry is reflected in its share of the overall housing market. Between 1980 and 2000, manufactured housing accounted for 29% of new home sales. This percentage fell to about 10% from 2004- 2006 during the sub-prime site built boom and has recently increased to only about 12%. With the overall housing market still depressed, we believe the manufactured housing industry will benefit over the next several years from gaining share in an increasing overall market.


Cavco’s recent financial results demonstrate the operating leverage inherent in its business model. Unlike Site built homebuilders, manufactured home producers do not need to invest in land. The production environment is controlled and cost efficient ($42 per square foot, compared to $86 per square foot for the site built industry). Cavco's facilities are currently operating at a capacity utilization of only 43%, indicating that sales could expand significantly without additional capital investment. in fiscal 2014 (March 31st year end), Cavco's revenues, operating income and earnings per share increased 18 %, 30 % and 173 %, respectively, as the company gained market share and benefited from the modest industry recovery. We believe that the Company will continue to generate substantial earnings growth over the next several years, as the industry continues to recover. Finally, Cavco's strong balance sheet with $73 million of cash and no debt (excluding non-recourse finance subsidiary debt) positions the company to make additional acquisitions or investments to drive further growth. Cavco's management team, led by Chairman and CEO, Joe Stegmayer, has proven to be very capable in both making and integrating acquisitions.

From Martin Whitman (Trades, Portfolio)'s 2Q 2014 Shareholder Letters.

Check out Martin Whitman latest stock trades

Third Avenue Management Comments on Cavco Industries - Jun 06, 2014

The Fund's largest position is the common stock of Cavco industries inc. (CVCO), which represented 5.6% of the Fund's net assets as of quarter end. Since Cavco is not a household name, we thought it would be helpful to discuss the history of the investment and why we are so excited about its future. The Cavco investment originated during the 2008 financial crisis. Fleetwood Enterprises, a leading producer of manufactured homes and recreational vehicles ("rVs") had filed for bankruptcy, and its announcement of the sale of its rV business in a bankruptcy auction indicated that the manufactured housing business could be available on similar terms. Fund Management had long followed the manufactured housing industry and knew that Fleetwood had a strong brand name and reputation as a quality manufacturer. Fund Management contacted Joe Stegmayer, the Chairman and CEO of Cavco, to discuss the situation and learned that Cavco was also interested in the Fleetwood manufactured housing business. Fund Management had known Joe Stegmayer for many years, dating back to when he was president of industry leader Clayton Homes, and had tremendous respect for his managerial capabilities. Cavco was a small (three plants) regional manufactured housing producer based arizona. Under Joe Stegmayer's prudent management, the company had maintained generally profitable operations and a strong, debt free balance sheet during the long industry downturn (See Manufactured Housing Shipments chart that follows on the next page ). Therefore, the company was in position to consider acquisitions. However, given Fleetwood's considerably larger size, Cavco wanted a financial partner for the acquisition, and, hence, we formed a 50-50 joint venture company ("Fleetwood Homes") to purchase the Fleetwood assets. The Fund and Cavco each contributed $35 million to fund the joint venture.

Fleetwood's manufactured housing assets, consisting mostly of seven manufacturing plants, were purchased by our joint venture for $26 million in august 2009 at a bankruptcy auction. The only other bidder for the assets was Clayton Homes, which is now owned by Berkshire Hathaway. Under the terms of our joint venture agreement, Cavco operated the assets. impressively, despite continued industry weakness, Cavco was able to operate Fleetwood profitably in 2010. Therefore, when a larger, vertically integrated competitor, palm Harbor, experienced financial distress in 2010, Fund Management was willing to make an additional contribution to the joint venture ($36 million) to pursue this attractive expansion opportunity. after much negotiation and diligence on palm Harbor, the Fleetwood Homes joint venture agreed to provide debtor in possession ("Dip") financing for palm Harbor's November 2010 bankruptcy filing. in 2011, Fleetwood Homes rolled this Dip loan into a purchase of substantially all of palm Harbor's assets for $84 million at another bankruptcy auction. These assets consisted mostly of five manufacturing facilities, 49 retail outlets and 100% of the common stock of profitable insurance and finance subsidiaries that had not filed for bankruptcy.

In 2013, the Fund sold its stake in the Fleetwood Homes joint venture to its partner, Cavco, in exchange for approximately 21% of Cavco's common stock. The sale price equated to a 29% premium to our cost, but, more importantly, the Fund received Cavco stock at $49 per share, compared to $78 as of quarter end. Fund Management wanted to take Cavco common stock as opposed to cash because we believe the company's long- term prospects are very attractive.

Despite the strong recent appreciation of Cavco common, we believe that there is still considerable upside as the company benefits from the acquisitions of Fleetwood and palm Harbor and a manufactured housing industry recovery. as the chart below illustrates, the manufactured housing industry remain s extremely depressed. 2013 industry shipments of 60,000 are only slightly above the trough of 50,000 in 2009-2010. The twenty year average shipment level of 183,000 is more than triple the current level. One factor that should drive a more significant industry recovery is improved financing availability. Following the burst of the easy credit driven industry boom in the late 1990s, most manufactured housing lenders exited the industry. However, recent performance of manufactured home mortgages underwritten over the last ten years, including those by the finance subsidiary that Cavco purchased from palm Harbor, has been healthy (much better than sub-prime site built mortgages). Freddie Mac's recent announcement of a program to purchase the debt of manufactured housing community developers is a positive sign, and we expect more financing options to become available for the industry. The paucity of financing in the manufactured housing industry is reflected in its share of the overall housing market. Between 1980 and 2000, manufactured housing accounted for 29% of new home sales. This percentage fell to about 10% from 2004- 2006 during the sub-prime site built boom and has recently increased to only about 12%. With the overall housing market still depressed, we believe the manufactured housing industry will benefit over the next several years from gaining share in an increasing overall market.

Site built homebuilders, manufactured home producers do not need to invest in land. The production environment is controlled and cost efficient ($42 per square foot, compared to $86 per square foot for the site built industry). Cavco's facilities are currently operating at a capacity utilization of only 43%, indicating that sales could expand significantly without additional capital investment. in fiscal 2014 (March 31st year end), Cavco's revenues, operating income and earnings per share increased 18 %, 30 % and 173 %, respectively, as the company gained market share and benefited from the modest industry recovery. We believe that the Company will continue to generate substantial earnings growth over the next several years, as the industry continues to recover. Finally, Cavco's strong balance sheet with $73 million of cash and no debt (excluding non-recourse finance subsidiary debt) positions the company to make additional acquisitions or investments to drive further growth. Cavco's management team, led by Chairman and CEO, Joe Stegmayer, has proven to be very capable in both making and integrating acquisitions.



From Third Avenue Management (Trades, Portfolio)'s second quarter 2014 shareholder letter.

Check out Third Avenue Management latest stock trades

Top Ranked Articles about Cavco Industries Inc

Marty Whitman’s Third Avenue Value Fund’s Top Five Q3 Stocks
Martin Whitman’s fund, the Third Avenue Asset Management, made a relatively early release of his fund’s third quarter portfolio this week. While Whitman no longer manages the funds at Third Avenue, he continues to write the shareholder letter each quarter. Third Avenue focuses on valuing its stocks from the bottom up, focusing on the “creditworthiness,” the ability for the “issuer to grow net asset value (NAV)” and the stock’s price in relation to its NAV. Read more...
Third Avenue Management Comments on Cavco Industries
The Fund's largest position is the common stock of Cavco industries inc. (CVCO), which represented 5.6% of the Fund's net assets as of quarter end. Since Cavco is not a household name, we thought it would be helpful to discuss the history of the investment and why we are so excited about its future. The Cavco investment originated during the 2008 financial crisis. Fleetwood Enterprises, a leading producer of manufactured homes and recreational vehicles ("RVs") had filed for bankruptcy, and its announcement of the sale of its RV business in a bankruptcy auction indicated that the manufactured housing business could be available on similar terms. Fund Management had long followed the manufactured housing industry and knew that Fleetwood had a strong brand name and reputation as a quality manufacturer. Fund Management contacted Joe Stegmayer, the Chairman and CEO of Cavco, to discuss the situation and learned that Cavco was also interested in the Fleetwood manufactured housing business. Fund Management had known Joe Stegmayer for many years, dating back to when he was president of industry leader Clayton Homes, and had tremendous respect Read more...
Third Avenue Management Comments on Cavco Industries
The Fund's largest position is the common stock of Cavco industries inc. (CVCO), which represented 5.6% of the Fund's net assets as of quarter end. Since Cavco is not a household name, we thought it would be helpful to discuss the history of the investment and why we are so excited about its future. The Cavco investment originated during the 2008 financial crisis. Fleetwood Enterprises, a leading producer of manufactured homes and recreational vehicles ("rVs") had filed for bankruptcy, and its announcement of the sale of its rV business in a bankruptcy auction indicated that the manufactured housing business could be available on similar terms. Fund Management had long followed the manufactured housing industry and knew that Fleetwood had a strong brand name and reputation as a quality manufacturer. Fund Management contacted Joe Stegmayer, the Chairman and CEO of Cavco, to discuss the situation and learned that Cavco was also interested in the Fleetwood manufactured housing business. Fund Management had known Joe Stegmayer for many years, dating back to when he was president of industry leader Clayton Homes, and had tremendous respect for his managerial capabilities. Cavco was a Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 33.40
CVCO's P/E(ttm) is ranked higher than
61% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 21.40 vs. CVCO: 33.40 )
CVCO' s 10-Year P/E(ttm) Range
Min: 12.92   Max: 699.42
Current: 33.4

12.92
699.42
P/B 2.30
CVCO's P/B is ranked lower than
55% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 1.34 vs. CVCO: 2.30 )
CVCO' s 10-Year P/B Range
Min: 0.84   Max: 2.59
Current: 2.3

0.84
2.59
P/S 1.30
CVCO's P/S is ranked higher than
56% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 0.88 vs. CVCO: 1.30 )
CVCO' s 10-Year P/S Range
Min: 0.65   Max: 2.9
Current: 1.3

0.65
2.9
PFCF 23.30
CVCO's PFCF is ranked higher than
79% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 9999.00 vs. CVCO: 23.30 )
CVCO' s 10-Year PFCF Range
Min: 6.24   Max: 534.4
Current: 23.3

6.24
534.4
EV-to-EBIT 19.15
CVCO's EV-to-EBIT is ranked higher than
70% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 21.45 vs. CVCO: 19.15 )
CVCO' s 10-Year EV-to-EBIT Range
Min: -589.7   Max: 316.2
Current: 19.15

-589.7
316.2
Shiller P/E 77.90
CVCO's Shiller P/E is ranked higher than
76% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 9999.00 vs. CVCO: 77.90 )
CVCO' s 10-Year Shiller P/E Range
Min: 14.2   Max: 99.3
Current: 77.9

14.2
99.3
Current Ratio 2.47
CVCO's Current Ratio is ranked higher than
77% of the 508 Companies
in the Global Residential Construction industry.

( Industry Median: 1.88 vs. CVCO: 2.47 )
CVCO' s 10-Year Current Ratio Range
Min: 1.8   Max: 6.98
Current: 2.47

1.8
6.98
Quick Ratio 1.74
CVCO's Quick Ratio is ranked higher than
80% of the 508 Companies
in the Global Residential Construction industry.

( Industry Median: 0.94 vs. CVCO: 1.74 )
CVCO' s 10-Year Quick Ratio Range
Min: 1.13   Max: 6.34
Current: 1.74

1.13
6.34

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 3.10
CVCO's Price/Tangible Book is ranked lower than
56% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 1.50 vs. CVCO: 3.10 )
CVCO' s 10-Year Price/Tangible Book Range
Min: 1.9   Max: 5.34
Current: 3.1

1.9
5.34
Price/DCF (Projected) 1.60
CVCO's Price/DCF (Projected) is ranked higher than
80% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 9999.00 vs. CVCO: 1.60 )
CVCO' s 10-Year Price/DCF (Projected) Range
Min: 0.74   Max: 2.14
Current: 1.6

0.74
2.14
Price/Median PS Value 1.00
CVCO's Price/Median PS Value is ranked higher than
75% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 1.22 vs. CVCO: 1.00 )
CVCO' s 10-Year Price/Median PS Value Range
Min: 0.58   Max: 2.25
Current: 1

0.58
2.25
Price/Graham Number 2.10
CVCO's Price/Graham Number is ranked higher than
57% of the 540 Companies
in the Global Residential Construction industry.

( Industry Median: 1.29 vs. CVCO: 2.10 )
CVCO' s 10-Year Price/Graham Number Range
Min: 1.09   Max: 10.38
Current: 2.1

1.09
10.38
Earnings Yield (Greenblatt) 5.20
CVCO's Earnings Yield (Greenblatt) is ranked higher than
68% of the 505 Companies
in the Global Residential Construction industry.

( Industry Median: 5.20 vs. CVCO: 5.20 )
CVCO' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.3   Max: 15.8
Current: 5.2

0.3
15.8
Forward Rate of Return (Yacktman) -33.59
CVCO's Forward Rate of Return (Yacktman) is ranked lower than
61% of the 264 Companies
in the Global Residential Construction industry.

( Industry Median: 6.45 vs. CVCO: -33.59 )
CVCO' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -30.6   Max: 4.5
Current: -33.59

-30.6
4.5

Analyst Estimate

Mar15
EPS($) 2.89
EPS without NRI($) 2.89

Business Description

Industry: Homebuilding & Construction » Residential Construction
Compare:MDC, TOL, DWAHY, DITFY, MTH » details
Cavco Industries Inc was formed on June 30, 2003 as a successor corporation to previous Cavco entities operating since 1965. The Company designs and produces factory-built homes, primarily distributed through a network of independent and company-owned retailers, planned community operators and residential developers. It also produces modular homes, including single and multi-section/modular ranch-style dwellings; split-level homes; Cape Cod style homes; two and three story homes; and multi-family units, such as apartments and duplexes. In addition, the Company manufactures park model homes and vacation cabins, as well as commercial structures, including apartment buildings, condominiums, hotels, schools, and housing for U.S. military troops. Further, the Company, through CountryPlace, provides conforming mortgages to purchasers of factory-built and site-built homes; and property and casualty insurance to owners of manufactured homes. It constructs homes using an assembly-line process in which each module or floor section is assembled in stages. The Company sells its products under the Cavco Homes, Fleetwood Homes, and Palm Harbor Homes brands. The Company currently operates in two segments - factory-built housing and Financial services. The Factory-built housing segment engages in the wholesale and retail of systems-built housing operations. The Financial services segment provides insurance and financial services to manufactured housing consumers. As of March 30, 2013, the Company operated fifteen homebuilding facilities located in the Pacific, Mountain, South Central and South Atlantic regions. As of March 30, 2013, it distributed homes through 50 Company-owned retail outlets and a network of approximately 980 independent distribution points in 44 states, Canada, Mexico and Japan. The Company competes with approximately 44 other producers of manufactured homes, as well as companies offering for sale homes repossessed from wholesalers or consumers. In addition, manufactured homes compete with new and existing site-built homes, as well as apartments, townhouses and condominiums.
» More Articles for CVCO

Headlines

Articles On GuruFocus.com
Third Avenue Value Fund Comments on Weyerhaeuser Co, Canfor, and Cavco Industries Dec 12 2014 
Marty Whitman’s Third Avenue Value Fund’s Top Five Q3 Stocks Sep 28 2014 
Third Avenue Management Comments on Cavco Industries Jul 23 2014 
Third Avenue Management Comments on Cavco Industries Jun 06 2014 
Third Avenue Management Becomes 5% Owner of Slavie Federal Savings Bank Oct 26 2012 
Third Avenue Management Sheds Shares as Fourth Quarter Commences Oct 11 2012 
Fleerwood, palm harb Jan 06 2012 

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Cavco Shows Interest in Acquiring Skyline Corporation Sep 29 2014
CAVCO INDUSTRIES INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits Sep 26 2014
Cavco Industries Announces Interest in Transaction With Skyline Corporation Sep 26 2014
CAVCO INDUSTRIES INC Files SEC form 10-Q, Quarterly Report Aug 06 2014
CAVCO INDUSTRIES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial... Jul 31 2014
CAVCO INDUSTRIES INC Files SEC form 8-K, Submission of Matters to a Vote of Security Holders Jul 24 2014
CAVCO INDUSTRIES INC Files SEC form 10-K, Annual Report Jun 11 2014
CAVCO INDUSTRIES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial... May 22 2014

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