What is Cavco Industries Return-on-Tangible-Equity?
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Cavco Industries's annualized net income for the quarter that ended in Dec. 2023 was $144 Mil. Cavco Industries's average shareholder tangible equity for the quarter that ended in Dec. 2023 was $867 Mil. Therefore, Cavco Industries's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2023 was 16.61%.
The historical rank and industry rank for Cavco Industries's Return-on-Tangible-Equity or its related term are showing as below:
CVCO'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 10.45 Med: 14.68 Max: 31.38
Current: 20.04
During the past 13 years, Cavco Industries's highest Return-on-Tangible-Equity was 31.38%. The lowest was 10.45%. And the median was 14.68%.
CVCO's Return-on-Tangible-Equity is ranked better than 77.67% of 103
companies
in the Homebuilding & Construction industry
Industry Median: 11.46
vs CVCO: 20.04
Cavco Industries Return-on-Tangible-Equity Historical Data
The historical data trend for Cavco Industries's Return-on-Tangible-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Cavco Industries's Return-on-Tangible-Equity
For the Residential Construction subindustry, Cavco Industries's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cavco Industries's Return-on-Tangible-Equity Distribution in the Homebuilding & Construction Industry
For the Homebuilding & Construction industry and Consumer Cyclical sector, Cavco Industries's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Cavco Industries's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Dec. 2023) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Cavco Industries Return-on-Tangible-Equity Related Terms
Thank you for viewing the detailed overview of Cavco Industries's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.
Cavco Industries (Cavco Industries) Business Description
Cavco Industries Inc designs and produces factory-built homes under the Cavco Homes, Fleetwood Homes, and Palm Harbor Homes brands. It also produces modular homes, park model homes, and vacation cabins, as well as commercial structures, among others. The company operates principally in two segments: Factory-built housing, which includes wholesale and retail systems-built housing operations and financial services, which includes manufactured housing consumer finance and insurance. Cavco received most of its revenues from the Factory-built housing segment.
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