A Business at a Glance
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Champion Homes, Inc.
SKY
$4.7B
Mkt Cap
$81.63
+2.15%
Champion Homes, Inc. (SKY) has a current P/E ratio of 21.8, compared to its historical median P/E of 29.0. The stock is currently considered Fair based on its historical valuation range.
Champion Homes, Inc. (SKY) has a 5-year average return on invested capital (ROIC) of 43.2%. This indicates strong capital allocation and a potential competitive advantage.
Champion Homes, Inc. (SKY) has a market capitalization of $4.5B. It is classified as a mid-cap stock.
Champion Homes, Inc. (SKY) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 3.77%.
Based on historical P/E analysis, Champion Homes, Inc. (SKY) appears fair. The current P/E of 21.8 is 25% below its historical median of 29.0. The estimated fair value CAGR (P/E method) is 27.4%.
Champion Homes, Inc. (SKY) operates in the Mobile Homes industry, within the Materials sector.
Champion Homes, Inc. (SKY) reported annual revenue of $2.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
General Overview Champion Homes, Inc., formerly known as Skyline Champion Corporation, an Indiana corporation, and its consolidated subsidiaries are referred to herein as "Champion Homes," "us," "we," "our," the "Company," and any other similar terms, unless otherwise indicated in this Annual Report. We are a leading producer of factory-built housing in North America with net sales for the year ended March 29, 2025 (“fiscal 2025”) of approximately $2.5 billion. We have more than 70 years of homebuilding experience, approximately 9,000 employees and 48 manufacturing facilities located in 20 states across the United States and three provinces in western Canada. We offer a leading portfolio of manufactured and modular homes, park model RVs, accessory dwelling units (“ADUs”) and modular buildings for the single and multi-family markets. Our facilities are strategically located to serve strong regions in the United States and western Canada.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.6B | 2.5B | 2.0B | 2.6B | 2.2B | 1.4B |
| Net Income | 214M | 198M | 147M | 402M | 248M | 85M |
| EPS | $3.81 | $3.42 | $2.53 | $7.00 | $4.33 | $1.49 |
| Free Cash Flow | 260M | 190M | 170M | 364M | 193M | 146M |
| ROIC | 21.3% | 19.6% | 18.5% | 86.7% | 66.9% | 24.1% |
| Gross Margin | 26.6% | 26.7% | 24.0% | 31.4% | 26.7% | 20.2% |
| Debt/Equity | 0.01 | 0.02 | 0.02 | 0.01 | 0.02 | 0.07 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 258M | 237M | 175M | 518M | 333M | 109M |
| Operating Margin | 9.8% | 9.5% | 8.7% | 19.9% | 15.1% | 7.7% |
| ROE | 13.4% | 13.4% | 11.0% | 39.0% | 35.6% | 16.3% |
| Shares Outstanding | 55M | 58M | 58M | 57M | 57M | 57M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 153M | 187M | 212M | 861M | 1.1B | 1.4B | 1.4B | 1.4B | 2.2B | 2.6B | 2.0B | 2.5B | 2.6B |
| Gross Margin | 7.2% | 9.1% | 11.0% | 16.7% | 16.6% | 18.0% | 20.4% | 20.2% | 26.7% | 31.4% | 24.0% | 26.7% | 26.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 19M | 21M | 21M | 105M | 123M | 275M | 193M | 179M | 256M | 300M | 311M | 427M | 444M |
| EBIT | -7.3M | -3.9M | 2.2M | 35M | 55M | -30M | 86M | 109M | 333M | 518M | 175M | 237M | 258M |
| Op. Margin | -4.8% | -2.1% | 1.0% | 4.0% | 5.1% | -2.2% | 6.3% | 7.7% | 15.1% | 19.9% | 8.7% | 9.5% | 9.8% |
| Net Income | -12M | -10M | 1.7M | 49M | 15M | -58M | 58M | 85M | 248M | 402M | 147M | 198M | 214M |
| Net Margin | -7.8% | -5.6% | 0.8% | 5.6% | 1.4% | -4.3% | 4.2% | 6.0% | 11.2% | 15.4% | 7.2% | 8.0% | 8.1% |
| Non-Recurring | 706K | 243K | 0 | 985K | 1.3M | 37K | 311K | 61K | -612K | 129K | -205K | -35K | -35K |
| Returns on Capital | |||||||||||||
| ROIC | -35.1% | -44.6% | 15.5% | N/M | 42.2% | -17.2% | 17.3% | 24.1% | 66.9% | 86.7% | 18.5% | 19.6% | 21.3% |
| ROE | -35.1% | -44.6% | 6.7% | 84.3% | 10.2% | -20.6% | 13.1% | 16.3% | 35.6% | 39.0% | 11.0% | 13.4% | 13.4% |
| ROA | -18.0% | -20.6% | 3.1% | 87.8% | 6.6% | -10.6% | 7.8% | 10.0% | 23.0% | 28.7% | 8.4% | 9.8% | 10.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -18M | -4.3M | 3.9M | 33M | 32M | 65M | 77M | 154M | 224M | 416M | 223M | 241M | 297M |
| Free Cash Flow | -18M | -4.8M | 2.7M | 27M | 22M | 53M | 61M | 146M | 193M | 364M | 170M | 190M | 260M |
| Owner Earnings | -19M | -5.7M | 2.7M | 26M | 23M | -53M | 50M | 130M | 194M | 375M | 168M | 181M | 231M |
| CapEx | 753K | 473K | 1.1M | 7.0M | 9.4M | 12M | 15M | 8.0M | 32M | 52M | 53M | 51M | 37M |
| Maint. CapEx | 1.7M | 1.3M | 1.1M | 7.2M | 8.3M | 16M | 19M | 18M | 21M | 27M | 35M | 42M | 47M |
| Growth CapEx | 0 | 0 | 75K | 0 | 1.2M | 0 | 0 | 0 | 11M | 26M | 18M | 8.6M | 0 |
| D&A | 1.7M | 1.3M | 1.1M | 7.2M | 8.3M | 16M | 19M | 18M | 21M | 27M | 35M | 42M | 47M |
| CapEx/OCF | N/A | N/A | 29.4% | 47.2% | 29.9% | 18.5% | 20.1% | 5.2% | 14.2% | 12.6% | 23.8% | 21.0% | 12.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 80M | 170M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.5% | 3.8% |
| Stock-Based Comp | N/A | N/A | 82K | 608K | 642K | 102M | 8.3M | 6.0M | 9.8M | 14M | 20M | 18M | 19M |
| Debt Repayment | 0 | 234K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77K | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -5.7M | -5.7M | -11M | N/A | -54M | -72M | -132M | -223M | -423M | -735M | -470M | -586M | -636M |
| Cash & Equiv. | 6.0M | 5.0M | 7.7M | 81M | 114M | 127M | 209M | 263M | 435M | 747M | 495M | 610M | 660M |
| Long-Term Debt | N/A | N/A | N/A | N/A | 59M | 54M | 77M | 39M | 12M | 12M | 25M | 25M | 24M |
| Debt/Equity | 0.19 | 0.18 | 0.17 | 1.20 | 0.39 | 0.13 | 0.16 | 0.07 | 0.02 | 0.01 | 0.02 | 0.02 | 0.01 |
| Interest Coverage | -103.3 | -10.1 | 6.9 | 7.5 | 10.6 | -5.6 | 18.7 | 28.5 | 102.6 | 158.2 | 38.0 | 28.0 | 28.0 |
| Equity | 34M | 23M | 25M | 25M | 153M | 412M | 474M | 569M | 825M | 1.2B | 1.4B | 1.5B | 1.6B |
| Total Assets | 66M | 50M | 55M | 56M | 395M | 700M | 782M | 918M | 1.2B | 1.6B | 1.9B | 2.1B | 2.1B |
| Total Liabilities | 32M | 27M | 30M | 30M | 242M | 288M | 307M | 349M | 410M | 330M | 501M | 566M | -26M |
| Intangibles | N/A | N/A | N/A | N/A | 1.5M | 49M | 43M | 59M | 51M | 45M | 76M | 65M | 59M |
| Retained Earnings | 94M | 84M | 86M | 86M | 23M | -58M | -48K | 83M | 328M | 726M | 866M | 976M | 999M |
| Working Capital | 23M | 16M | 18M | 19M | 96M | 112M | 212M | 236M | 432M | 795M | 529M | 635M | 706M |
| Current Assets | 42M | 32M | 36M | 37M | 263M | 318M | 399M | 500M | 782M | 1.0B | 918M | 1.1B | 1.1B |
| Current Liabilities | 18M | 15M | 18M | 18M | 167M | 206M | 187M | 264M | 350M | 249M | 390M | 451M | 412M |
| Per Share Data | |||||||||||||
| EPS | -1.41 | -1.24 | 0.20 | 0.83 | 0.05 | -1.09 | 1.02 | 1.49 | 4.33 | 7.00 | 2.53 | 3.42 | 3.81 |
| Owner EPS | -2.30 | -0.67 | 0.32 | 0.44 | 0.07 | -0.99 | 0.88 | 2.29 | 3.38 | 6.54 | 2.90 | 3.11 | 4.17 |
| Book Value | 4.02 | 2.78 | 3.00 | 0.43 | 0.49 | 7.71 | 8.34 | 9.99 | 14.40 | 21.48 | 24.53 | 26.62 | 28.80 |
| Cash Flow/Share | -2.09 | -0.52 | 0.46 | 0.57 | 0.10 | 1.22 | 1.35 | 2.70 | 3.92 | 7.25 | 3.84 | 4.15 | 4.71 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 8.4M | 8.4M | 8.4M | 58.7M | 314.0M | 53.4M | 56.9M | 56.9M | 57.3M | 57.4M | 58.0M | 58.0M | 55.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 39.8 | N/A | 62.3 | N/A | 15.1 | 30.4 | 13.0 | 10.1 | 33.6 | 27.5 | 21.4 |
| P/FCF | N/A | N/A | 24.6 | 19.2 | 290.9 | 19.0 | 14.3 | 17.7 | 16.8 | 11.1 | 29.0 | 28.7 | 17.4 |
| EV/EBIT | N/A | N/A | 25.4 | 155.0 | 14.9 | N/A | 6.2 | 19.3 | 7.1 | 4.9 | 22.6 | 18.0 | 15.0 |
| Price/Book | 1.4 | 1.2 | 2.7 | 2.9 | 6.4 | 2.5 | 1.9 | 4.5 | 3.9 | 3.3 | 3.5 | 3.5 | 2.8 |
| Price/Sales | 0.3 | 0.2 | 0.1 | 0.4 | 0.5 | 1.0 | 1.1 | 1.2 | 1.6 | 1.2 | 2.0 | 2.0 | 1.7 |
| FCF Yield | -38.1% | -16.7% | 4.1% | 36.5% | 2.3% | 5.3% | 7.0% | 5.6% | 5.9% | 9.0% | 3.4% | 3.5% | 5.8% |
| Market Cap | 48M | 29M | 67M | 73M | 984M | 1.0B | 879M | 2.6B | 3.2B | 4.0B | 4.9B | 5.5B | 4.5B |
| Avg. Price | 4.74 | 3.87 | 3.41 | 10.54 | 11.69 | 24.42 | 27.47 | 29.05 | 61.43 | 56.69 | 68.79 | 87.71 | 81.63 |
| Year-End Price | 5.72 | 3.43 | 7.96 | 8.64 | 20.55 | 18.91 | 15.42 | 45.34 | 56.50 | 70.42 | 85.01 | 94.08 | 81.63 |
Champion Homes, Inc. passes 7 of 9 quality checks, indicating strong fundamentals.
Champion Homes, Inc. trades at 21.8x trailing earnings, compared to its 15-year median P/E of 29.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 17.4x vs a median of 19.0x. The company's 5-year average ROIC is 43.2% with a gross margin of 25.8%. Total shareholder yield (buybacks) is 3.8%. At current prices, the estimated annualized return to fair value is +4.3%.
Champion Homes, Inc. (SKY) has a net profit margin of 8.0%. This is a modest margin.
Champion Homes, Inc. (SKY) generated $190 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Champion Homes, Inc. (SKY) has a debt-to-equity ratio of 0.02. This indicates a conservatively financed balance sheet.
Champion Homes, Inc. (SKY) reported earnings per share (EPS) of $3.42 in its most recent fiscal year.
Champion Homes, Inc. (SKY) has a return on equity (ROE) of 13.4%. This indicates moderate shareholder returns.
Champion Homes, Inc. (SKY) has a 5-year average gross margin of 25.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for Champion Homes, Inc. (SKY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Champion Homes, Inc. (SKY) has a book value per share of $26.62, based on its most recent annual SEC filing.