Legacy Housing Corporation(NASDAQ:LEGH)

Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, in...
Website: http://www.legacyhousingcorp.com
Founded: 2005
Full Time Employees: 800
Sector: Consumer Cyclical
Industry: Residential Construction
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
net revenue: | ||||||||||||||||||||||||||||||
product sales | 21,550,000 | 25,468,000 | 28,787,000 | 38,387,000 | 24,290,000 | 36,692,000 | 30,169,000 | 31,652,000 | 30,833,000 | 22,595,000 | 37,008,000 | 42,316,000 | 43,318,000 | 66,489,000 | 48,678,000 | 55,098,000 | 51,787,000 | 44,306,000 | 48,300,000 | 41,115,000 | 32,274,000 | 41,090,000 | 36,566,000 | 39,179,000 | 31,195,000 | 36,525,000 | 35,355,000 | 39,766,000 | 31,550,000 | |
consumer, mhp and dealer loans interest | 11,318,000 | 11,243,000 | 10,892,000 | 10,883,000 | 10,655,000 | 10,375,000 | 10,330,000 | 9,844,000 | 10,633,000 | |||||||||||||||||||||
other revenue | 1,498,000 | 1,546,000 | 799,000 | 891,000 | 725,000 | |||||||||||||||||||||||||
total net revenue | 34,366,000 | 38,257,000 | 40,478,000 | 50,161,000 | 35,670,000 | 54,187,000 | 44,266,000 | 42,495,000 | 43,243,000 | 33,714,000 | 49,937,000 | 52,636,000 | 52,857,000 | 75,551,000 | 57,325,000 | 64,211,000 | 59,928,000 | 52,508,000 | 56,470,000 | 48,589,000 | 39,940,000 | 48,702,000 | 43,743,000 | 46,006,000 | 38,273,000 | 43,305,000 | 41,936,000 | 45,761,000 | 37,954,000 | |
yoy | -3.66% | -29.40% | -8.56% | 18.04% | -17.51% | 60.73% | -11.36% | -19.27% | -18.19% | -55.38% | -12.89% | -18.03% | -11.80% | 43.88% | 1.51% | 32.15% | 50.05% | 7.81% | 29.09% | 5.61% | 4.36% | 12.46% | 4.31% | 0.54% | 0.84% | |||||
qoq | -10.17% | -5.49% | -19.30% | 40.63% | -34.17% | 22.41% | 4.17% | -1.73% | 28.26% | -32.49% | -5.13% | -0.42% | -30.04% | 31.79% | -10.72% | 7.15% | 14.13% | -7.02% | 16.22% | 21.65% | -17.99% | 11.34% | -4.92% | 20.20% | -11.62% | 3.26% | -8.36% | 20.57% | ||
operating expenses: | ||||||||||||||||||||||||||||||
cost of product sales | 14,936,000 | 18,734,000 | 22,963,000 | 25,941,000 | 17,192,000 | 26,682,000 | 21,364,000 | 21,558,000 | 20,466,000 | 16,202,000 | 24,820,000 | 29,709,000 | 28,960,000 | 45,466,000 | 33,510,000 | 37,411,000 | 33,727,000 | 28,026,000 | 33,392,000 | 28,608,000 | 24,024,000 | 31,336,000 | 27,839,000 | 30,557,000 | 21,858,000 | 27,638,000 | 27,504,000 | 27,876,000 | 21,885,000 | |
gross profit | 19,430,000 | 19,523,000 | 17,515,000 | 24,220,000 | 18,478,000 | 27,505,000 | 22,902,000 | 20,937,000 | 22,777,000 | 17,512,000 | 25,117,000 | 22,927,000 | 23,897,000 | 30,085,000 | 23,815,000 | 26,800,000 | 26,201,000 | 24,482,000 | 23,078,000 | 19,981,000 | 15,916,000 | 17,366,000 | 15,904,000 | 15,449,000 | 16,415,000 | 15,667,000 | 14,432,000 | 17,885,000 | 16,069,000 | |
yoy | 5.15% | -29.02% | -23.52% | 15.68% | -18.87% | 57.06% | -8.82% | -8.68% | -4.69% | -41.79% | 5.47% | -14.45% | -8.79% | 22.89% | 3.19% | 34.13% | 64.62% | 40.98% | 45.11% | 29.34% | -3.04% | 10.84% | 10.20% | -13.62% | 2.15% | |||||
qoq | -0.48% | 11.46% | -27.68% | 31.07% | -32.82% | 20.10% | 9.39% | -8.08% | 30.07% | -30.28% | 9.55% | -4.06% | -20.57% | 26.33% | -11.14% | 2.29% | 7.02% | 6.08% | 15.50% | 25.54% | -8.35% | 9.19% | 2.95% | -5.88% | 4.77% | 8.56% | -19.31% | 11.30% | ||
gross margin % | 56.54% | 51.03% | 43.27% | 48.28% | 51.80% | 50.76% | 51.74% | 49.27% | 52.67% | 51.94% | 50.30% | 43.56% | 45.21% | 39.82% | 41.54% | 41.74% | 43.72% | 46.63% | 40.87% | 41.12% | 39.85% | 35.66% | 36.36% | 33.58% | 42.89% | 36.18% | 34.41% | 39.08% | 42.34% | |
cost of other sales | 1,201,000 | -1,000 | 580,000 | 628,000 | 515,000 | 6,230,000 | 1,988,000 | |||||||||||||||||||||||
selling, general and administrative expenses | 5,840,000 | 9,359,000 | 7,315,000 | 6,638,000 | 6,296,000 | 5,694,000 | 6,065,000 | 5,574,000 | 5,889,000 | 7,233,000 | 6,108,000 | 5,527,000 | 5,412,000 | 7,281,000 | 6,727,000 | 5,901,000 | 7,659,000 | 8,301,000 | 5,045,000 | 5,165,000 | ||||||||||
total operating expenses | 21,977,000 | 27,968,000 | 30,769,000 | 33,344,000 | 24,079,000 | 38,681,000 | 28,942,000 | 26,465,000 | 26,493,000 | |||||||||||||||||||||
income from operations | 12,389,000 | 10,289,000 | 9,709,000 | 16,817,000 | 11,591,000 | 15,506,000 | 15,324,000 | 16,030,000 | 16,750,000 | 9,720,000 | 19,014,000 | 17,500,000 | 18,354,000 | 22,428,000 | 16,862,000 | 20,460,000 | 18,267,000 | 15,944,000 | 17,612,000 | 14,702,000 | 10,660,000 | 13,093,000 | 10,829,000 | 11,199,000 | 10,609,000 | 8,916,000 | 8,054,000 | 11,502,000 | 9,368,000 | |
yoy | 6.88% | -33.65% | -36.64% | 4.91% | -30.80% | 59.53% | -19.41% | -8.40% | -8.74% | -56.66% | 12.76% | -14.47% | 0.48% | 40.67% | -4.26% | 39.16% | 71.36% | 21.77% | 62.64% | 31.28% | 0.48% | 46.85% | 34.45% | -2.63% | 13.25% | |||||
qoq | 20.41% | 5.97% | -42.27% | 45.09% | -25.25% | 1.19% | -4.40% | -4.30% | 72.33% | -48.88% | 8.65% | -4.65% | -18.16% | 33.01% | -17.59% | 12.01% | 14.57% | -9.47% | 19.79% | 37.92% | -18.58% | 20.91% | -3.30% | 5.56% | 18.99% | 10.70% | -29.98% | 22.78% | ||
operating margin % | 36.05% | 26.89% | 23.99% | 33.53% | 32.50% | 28.62% | 34.62% | 37.72% | 38.73% | 28.83% | 38.08% | 33.25% | 34.72% | 29.69% | 29.41% | 31.86% | 30.48% | 30.36% | 31.19% | 30.26% | 26.69% | 26.88% | 24.76% | 24.34% | 27.72% | 20.59% | 19.21% | 25.13% | 24.68% | |
other income: | ||||||||||||||||||||||||||||||
non‑operating interest income | 356,000 | 147,000 | 285,000 | 499,000 | 467,000 | 365,000 | -17,000 | 986,000 | 1,302,000 | 904,000 | 794,000 | 626,000 | 695,000 | 696,000 | 611,000 | 783,000 | 853,000 | 830,000 | 588,000 | 429,000 | 248,000 | 218,000 | 246,000 | 215,000 | 237,000 | 100,000 | 115,000 | 46,000 | 39,000 | |
miscellaneous | 307,000 | 375,000 | 250,000 | 489,000 | 675,000 | 2,537,000 | 4,193,000 | 3,015,000 | 737,000 | 1,185,000 | -37,000 | 159,000 | 753,000 | 775,000 | 186,000 | 17,000 | 586,000 | 149,000 | 116,000 | 34,000 | 204,000 | 143,000 | 96,000 | 11,000 | 38,000 | 106,000 | 12,000 | 31,000 | 3,000 | |
interest expense | -28,000 | -6,000 | 13,000 | -29,000 | -5,000 | -3,000 | -175,000 | -235,000 | -276,000 | -342,000 | -303,000 | -195,000 | -91,000 | -49,000 | -88,000 | -183,000 | -56,000 | -60,000 | -318,000 | -283,000 | -226,000 | -236,000 | -239,000 | -239,000 | -338,000 | -207,000 | -148,000 | -158,000 | -189,000 | |
total other income | 635,000 | 516,000 | 548,000 | 959,000 | 1,137,000 | 2,899,000 | 4,001,000 | 3,766,000 | 1,763,000 | 1,383,000 | ||||||||||||||||||||
income before income tax expense | 13,024,000 | 10,805,000 | 10,257,000 | 17,776,000 | 12,728,000 | 18,405,000 | 19,325,000 | 19,796,000 | 18,513,000 | 11,467,000 | 19,468,000 | 18,090,000 | 19,711,000 | 23,850,000 | 17,571,000 | 21,077,000 | 19,650,000 | 16,863,000 | 17,998,000 | 14,882,000 | 10,886,000 | 13,218,000 | 10,932,000 | 11,186,000 | 11,621,000 | 8,915,000 | 8,033,000 | 11,421,000 | 9,221,000 | |
income tax expense | -2,096,000 | -2,612,000 | -1,612,000 | -3,081,000 | -2,452,000 | -3,894,000 | -3,522,000 | -3,607,000 | -3,373,000 | -4,391,000 | -3,380,000 | -3,070,000 | -3,435,000 | -4,165,000 | -2,836,000 | -3,816,000 | -3,558,000 | -3,175,000 | -3,265,000 | -2,454,000 | -1,862,000 | -2,730,000 | -2,486,000 | -2,590,000 | -2,596,000 | -2,055,000 | -1,895,000 | -2,788,000 | -2,008,000 | |
net income | 10,928,000 | 8,193,000 | 8,645,000 | 14,695,000 | 10,276,000 | 14,511,000 | 15,803,000 | 16,189,000 | 15,140,000 | 7,076,000 | 16,088,000 | 15,020,000 | 16,276,000 | 19,685,000 | 14,735,000 | 17,261,000 | 16,092,000 | 13,688,000 | 14,733,000 | 12,428,000 | 9,024,000 | 10,488,000 | 8,446,000 | 8,596,000 | 9,025,000 | 6,860,000 | 6,138,000 | 8,633,000 | 7,213,000 | |
yoy | 6.34% | -43.54% | -45.30% | -9.23% | -32.13% | 105.07% | -1.77% | 7.78% | -6.98% | -64.05% | 9.18% | -12.98% | 1.14% | 43.81% | 0.01% | 38.89% | 78.32% | 30.51% | 74.44% | 44.58% | -0.01% | 52.89% | 37.60% | -0.43% | 25.12% | |||||
qoq | 33.38% | -5.23% | -41.17% | 43.00% | -29.18% | -8.18% | -2.38% | 6.93% | 113.96% | -56.02% | 7.11% | -7.72% | -17.32% | 33.59% | -14.63% | 7.26% | 17.56% | -7.09% | 18.55% | 37.72% | -13.96% | 24.18% | -1.74% | -4.75% | 31.56% | 11.76% | -28.90% | 19.69% | ||
net income margin % | 31.80% | 21.42% | 21.36% | 29.30% | 28.81% | 26.78% | 35.70% | 38.10% | 35.01% | 20.99% | 32.22% | 28.54% | 30.79% | 26.06% | 25.70% | 26.88% | 26.85% | 26.07% | 26.09% | 25.58% | 22.59% | 21.54% | 19.31% | 18.68% | 23.58% | 15.84% | 14.64% | 18.87% | 19.00% | |
weighted-average shares outstanding: | ||||||||||||||||||||||||||||||
basic | 23,808,350,000 | 23,979,349,000 | 23,868,727,000 | 24,050,252,000 | 24,133,253,000 | 24,217,631,000 | 24,154,779,000 | 24,165,320,000 | 24,393,003,000 | 24,385,190,000 | 24,391,797,000 | 24,380,894,000 | 24,374,677,000 | 24,357,785,000 | 24,406,020,000 | 24,406,020,000 | 24,351,223,000 | 24,204,437,000 | 24,204,362,000 | 24,202,631,000 | 24,199,107,000 | 24,226,128,000 | 24,192,157,000 | 24,201,220,000 | 24,319,328,000 | 24,379,667,000 | 24,317,143,000 | 24,369,890,000 | 24,516,762,000 | |
diluted | 23,838,330,000 | 23,983,093,000 | 24,433,224,000 | 24,600,720,000 | 24,794,928,000 | 24,853,778,000 | 24,810,816,000 | 24,780,903,000 | 25,125,016,000 | 25,070,626,000 | 25,128,679,000 | 25,101,937,000 | 25,177,502,000 | 24,742,419,000 | 25,379,116,000 | 24,922,125,000 | 24,661,426,000 | 24,275,989,000 | 24,283,666,000 | 24,234,913,000 | 24,211,182,000 | 24,236,395,000 | 24,214,279,000 | 24,201,823,000 | 24,361,083,000 | 24,436,954,000 | 24,338,839,000 | 24,369,890,000 | 24,571,088,000 | |
earnings per share: | ||||||||||||||||||||||||||||||
basic | 0.46 | |||||||||||||||||||||||||||||
diluted | 0.46 | |||||||||||||||||||||||||||||
dealer incentive | 31,000 | -89,000 | 137,000 | 76,000 | 75,000 | -475,000 | -667,000 | 138,000 | 559,000 | -5,000 | -100,000 | 131,000 | 376,000 | 226,000 | 439,000 | 275,000 | 237,000 | 421,000 | 114,000 | 463,000 | -593,000 | 550,000 | 186,000 | 194,000 | 197,000 | 85,000 | 239,000 | 210,000 | ||
net income per share | ||||||||||||||||||||||||||||||
basic | 0.34 | 0.36 | 0.61 | 0.43 | 0.61 | 0.65 | 0.67 | 0.62 | 0.29 | 0.66 | 0.62 | 0.67 | 0.81 | 0.6 | 0.71 | 0.66 | 0.56 | 0.61 | 0.51 | 0.37 | 0.44 | 0.35 | 0.36 | 0.37 | 0.28 | 0.25 | 0.35 | 0.29 | ||
diluted | 0.37 | 0.35 | 0.6 | 0.41 | 0.58 | 0.64 | 0.65 | 0.6 | 0.28 | 0.64 | 0.6 | 0.65 | 0.82 | 0.58 | 0.69 | 0.65 | 0.56 | 0.61 | 0.51 | 0.37 | 0.44 | 0.35 | 0.36 | 0.37 | 0.28 | 0.25 | 0.35 | 0.29 | ||
other | 1,636,000 | 3,767,000 | 999,000 | 1,777,000 | -1,305,000 | 4,126,000 | 1,832,000 | 1,834,000 | 1,762,000 | 1,645,000 | 1,616,000 | 1,376,000 | 1,638,000 | 911,000 | 740,000 | 1,028,000 | 1,171,000 | 749,000 | 760,000 | 654,000 | 922,000 | 893,000 | 883,000 | 874,000 | ||||||
consumer and mhp loans interest | 6,249,000 | 8,803,000 | 8,488,000 | 7,705,000 | 7,300,000 | 7,002,000 | 7,497,000 | 6,765,000 | 6,564,000 | 7,259,000 | 6,734,000 | 6,638,000 | 6,441,000 | 6,428,000 | 6,067,000 | 6,424,000 | 5,858,000 | 5,688,000 | 5,112,000 | 5,530,000 | ||||||||||
total other | 1,747,000 | 454,000 | 590,000 | 1,357,000 | 1,422,000 | 709,000 | 617,000 | 919,000 | 386,000 | 180,000 | 226,000 | 125,000 | 103,000 | -13,000 | 1,012,000 | -1,000 | -21,000 | -81,000 | -147,000 | |||||||||||
gain on settlement | 1,075,000 | |||||||||||||||||||||||||||||
selling, general administrative expenses | 4,793,000 | 4,866,000 | 4,525,000 | 4,064,000 | 5,612,000 | 6,554,000 | 6,293,000 | 6,144,000 | 6,491,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||||
cash | 14,111,000 | 13,551,000 | 2,631,000 | 3,414,000 | 1,149,000 | 570,000 | 60,000 | 621,000 | 748,000 | |||||||||||||||||||||
accounts receivable | 5,061,000 | 5,467,000 | 4,646,000 | 4,197,000 | 4,982,000 | 3,985,000 | 4,986,000 | 4,285,000 | 4,314,000 | 4,656,000 | 4,011,000 | 5,514,000 | 3,985,000 | 4,873,000 | 5,472,000 | 5,688,000 | 6,928,000 | 8,614,000 | 8,226,000 | 5,907,000 | 3,914,000 | 3,867,000 | 2,508,000 | 1,451,000 | 3,171,000 | 1,767,000 | 2,184,000 | 3,488,000 | 3,095,000 | 2,953,000 |
interest receivable loan portfolios | 3,701,000 | |||||||||||||||||||||||||||||
income tax refund receivable | 5,617,000 | |||||||||||||||||||||||||||||
dealer financed receivables | 24,618,000 | 26,685,000 | 30,300,000 | 32,464,000 | 31,678,000 | 32,585,000 | ||||||||||||||||||||||||
consumer loans receivable | 9,636,000 | 9,458,000 | 178,837,000 | 177,261,000 | 170,607,000 | 165,482,000 | 158,449,000 | 153,703,000 | 151,282,000 | 148,818,000 | 143,849,000 | 138,866,000 | 134,423,000 | 132,208,000 | 127,888,000 | 125,172,000 | 121,056,000 | |||||||||||||
notes receivable from mobile home parks (“mhp”) | 60,381,000 | 136,906,000 | 134,609,000 | 182,647,000 | 180,244,000 | 182,694,000 | 171,106,000 | 140,328,000 | 137,384,000 | 163,824,000 | 133,072,000 | |||||||||||||||||||
other notes receivable | 4,976,000 | 4,868,000 | 1,648,000 | 1,413,000 | 2,744,000 | 2,764,000 | 4,424,000 | 15,784,000 | 15,526,000 | 28,577,000 | 29,191,000 | 22,294,000 | 16,364,000 | 13,795,000 | 12,489,000 | 14,090,000 | 12,192,000 | 20,930,000 | 19,342,000 | 21,098,000 | ||||||||||
inventories | 50,383,000 | 39,853,000 | 39,581,000 | 40,522,000 | 41,404,000 | 37,538,000 | 29,223,000 | 30,997,000 | 34,250,000 | 33,176,000 | 35,355,000 | 33,735,000 | 32,527,000 | 32,075,000 | 48,508,000 | 46,770,000 | 47,783,000 | 41,230,000 | 36,951,000 | 39,702,000 | 31,915,000 | 27,224,000 | 27,852,000 | 26,377,000 | 31,523,000 | 27,228,000 | 27,981,000 | 33,584,000 | 37,966,000 | 42,033,000 |
prepaid expenses and other current assets | 1,425,000 | 4,598,000 | 3,974,000 | 4,128,000 | 4,705,000 | 4,504,000 | 3,846,000 | 5,430,000 | 5,310,000 | 4,915,000 | 4,998,000 | 4,238,000 | 3,729,000 | 4,064,000 | 4,205,000 | 4,284,000 | 4,067,000 | 4,456,000 | 5,805,000 | 3,860,000 | 3,649,000 | 3,234,000 | 3,158,000 | 3,205,000 | 3,429,000 | 4,857,000 | 2,805,000 | 2,593,000 | 3,327,000 | 2,938,000 |
total current assets | 174,292,000 | 164,656,000 | 172,573,000 | 124,557,000 | 130,544,000 | 124,306,000 | 112,487,000 | 139,376,000 | 146,286,000 | 107,884,000 | 95,116,000 | 92,696,000 | 107,780,000 | 107,081,000 | 103,139,000 | 114,263,000 | 109,091,000 | 92,541,000 | 83,437,000 | 69,731,000 | 60,847,000 | 54,963,000 | 55,670,000 | 49,504,000 | 57,977,000 | 52,967,000 | 53,289,000 | 56,729,000 | 61,730,000 | 63,144,000 |
property, plant and equipment | 60,597,000 | 60,497,000 | 55,036,000 | 53,012,000 | 48,445,000 | 47,585,000 | 49,264,000 | 40,460,000 | 40,760,000 | 37,880,000 | 33,874,000 | 31,112,000 | 30,597,000 | 30,106,000 | 29,927,000 | 28,497,000 | 28,016,000 | 27,516,000 | 26,428,000 | 24,422,000 | 24,070,000 | 22,616,000 | 22,445,000 | 21,320,000 | 21,124,000 | 21,038,000 | 20,837,000 | 18,041,000 | 17,644,000 | 17,128,000 |
other assets - leased mobile homes | 3,372,000 | 3,804,000 | 3,948,000 | 4,066,000 | 4,185,000 | 4,557,000 | 4,549,000 | 4,880,000 | 5,049,000 | 7,601,000 | 7,758,000 | 7,916,000 | 8,073,000 | 8,824,000 | 9,841,000 | 9,943,000 | 9,767,000 | |||||||||||||
rou assets - operating leases | 1,197,000 | 1,313,000 | 976,000 | 1,091,000 | 1,207,000 | 1,321,000 | 1,435,000 | 1,548,000 | 1,661,000 | 1,794,000 | 1,934,000 | 2,073,000 | 2,503,000 | 2,663,000 | 2,916,000 | 3,083,000 | 3,258,000 | |||||||||||||
other assets | 15,803,000 | 13,911,000 | 10,300,000 | 7,938,000 | 6,630,000 | 5,485,000 | 9,888,000 | 9,198,000 | 3,296,000 | 2,571,000 | 1,842,000 | 1,560,000 | 2,020,000 | 1,482,000 | 1,642,000 | 1,406,000 | 1,480,000 | 10,516,000 | 10,862,000 | 9,533,000 | 8,794,000 | 8,887,000 | 6,789,000 | 5,346,000 | 4,722,000 | 4,212,000 | 4,061,000 | 3,836,000 | 3,054,000 | 2,587,000 |
deferred income taxes | 1,121,000 | 998,000 | 2,206,000 | 2,206,000 | 2,206,000 | 2,206,000 | 2,338,000 | 2,338,000 | 2,338,000 | 2,338,000 | 2,862,000 | 2,862,000 | 2,862,000 | 3,065,000 | 3,004,000 | 3,004,000 | 3,004,000 | 3,004,000 | 1,971,000 | 1,971,000 | 1,971,000 | 1,971,000 | 1,766,000 | 1,766,000 | 1,766,000 | 1,766,000 | 1,842,000 | 1,842,000 | 1,842,000 | 1,842,000 |
intangible assets | 4,956,000 | 5,198,000 | ||||||||||||||||||||||||||||
goodwill | 2,472,000 | 2,472,000 | ||||||||||||||||||||||||||||
total assets | 591,472,000 | 580,337,000 | 557,927,000 | 551,985,000 | 544,606,000 | 534,194,000 | 521,405,000 | 514,927,000 | 509,971,000 | 506,742,000 | 495,643,000 | 465,779,000 | 454,951,000 | 436,813,000 | 418,165,000 | 413,029,000 | 390,667,000 | 366,667,000 | 348,989,000 | 373,794,000 | 356,918,000 | 338,616,000 | 328,380,000 | 312,184,000 | 301,618,000 | 283,620,000 | 262,342,000 | 251,816,000 | 243,675,000 | 235,038,000 |
liabilities and stockholders' equity | ||||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||||
accounts payable | 4,340,000 | 6,443,000 | 3,547,000 | 3,710,000 | 2,979,000 | 5,091,000 | 3,450,000 | 4,186,000 | 3,604,000 | 4,090,000 | 5,945,000 | 3,972,000 | 3,880,000 | 4,549,000 | 4,099,000 | 5,505,000 | 7,381,000 | 4,155,000 | 6,170,000 | 8,193,000 | 9,422,000 | 10,197,000 | 4,762,000 | 4,476,000 | 3,464,000 | 5,168,000 | 3,628,000 | 3,760,000 | 3,714,000 | 2,828,000 |
accrued liabilities | 19,152,000 | 25,063,000 | 11,116,000 | 11,974,000 | 15,238,000 | 13,672,000 | 13,256,000 | 13,066,000 | 19,761,000 | 18,504,000 | 20,609,000 | 15,579,000 | 17,673,000 | 16,895,000 | 17,746,000 | 14,980,000 | 19,998,000 | 20,686,000 | 17,073,000 | 14,701,000 | 13,677,000 | 14,860,000 | 12,603,000 | 14,794,000 | 11,818,000 | 8,808,000 | 10,728,000 | 10,605,000 | 10,309,000 | 9,156,000 |
customer deposits | 11,069,000 | 1,764,000 | 1,434,000 | 2,369,000 | 2,285,000 | 1,880,000 | 2,489,000 | 2,226,000 | 4,109,000 | 4,146,000 | 5,876,000 | 8,274,000 | 7,346,000 | 9,715,000 | 12,240,000 | 11,934,000 | 8,617,000 | 7,749,000 | 6,344,000 | 5,745,000 | 5,150,000 | 3,620,000 | 2,469,000 | 1,738,000 | 2,228,000 | 1,567,000 | 1,745,000 | 1,597,000 | 2,274,000 | 2,222,000 |
escrow liability | 13,498,000 | 13,109,000 | 13,551,000 | 13,175,000 | 12,388,000 | 11,623,000 | 12,700,000 | 11,785,000 | 10,953,000 | 10,104,000 | 11,008,000 | 10,022,000 | 9,272,000 | 9,653,000 | 10,572,000 | 9,771,000 | 9,142,000 | 9,350,000 | 9,350,000 | 8,737,000 | 8,015,000 | 7,729,000 | 8,305,000 | 7,548,000 | 6,964,000 | 7,530,000 | 6,769,000 | 6,057,000 | 5,325,000 | 5,951,000 |
operating lease obligation | 469,000 | 479,000 | 432,000 | 447,000 | 461,000 | 476,000 | 478,000 | 475,000 | 474,000 | 489,000 | 650,000 | 668,000 | 662,000 | 652,000 | ||||||||||||||||
total current liabilities | 48,528,000 | 46,858,000 | 30,080,000 | 31,675,000 | 33,351,000 | 32,742,000 | 32,373,000 | 31,738,000 | 38,901,000 | 37,333,000 | 43,952,000 | 43,093,000 | 46,661,000 | 41,462,000 | 45,325,000 | 42,852,000 | 45,790,000 | 41,940,000 | 38,937,000 | 37,376,000 | 36,264,000 | 36,406,000 | 28,139,000 | 28,556,000 | 24,474,000 | 51,933,000 | 33,910,000 | 29,330,000 | 21,807,000 | 20,385,000 |
long‑term liabilities: | ||||||||||||||||||||||||||||||
operating lease obligation, less current portion | 755,000 | 860,000 | 570,000 | 710,000 | 816,000 | 920,000 | 1,036,000 | 1,157,000 | 1,274,000 | 1,396,000 | 2,121,000 | 2,356,000 | 2,525,000 | 2,706,000 | ||||||||||||||||
lines of credit | 899,000 | 1,200,000 | 142,000 | 2,111,000 | 11,861,000 | 11,797,000 | 23,680,000 | 13,013,000 | 4,685,000 | 7,838,000 | 2,545,000 | 12,614,000 | 5,077,000 | 7,993,000 | 8,281,000 | 49,675,000 | 45,347,000 | 36,174,000 | 43,820,000 | 37,535,000 | 39,027,000 | 2,001,000 | 2,001,000 | 2,001,000 | 7,163,000 | 13,679,000 | ||||
dealer incentive liability | 2,297,000 | 2,805,000 | 3,473,000 | 4,472,000 | 4,505,000 | 4,370,000 | 4,275,000 | 4,614,000 | 5,300,000 | 5,260,000 | 4,825,000 | 5,020,000 | 5,596,000 | 5,516,000 | 5,255,000 | 4,974,000 | 4,597,000 | 4,336,000 | 4,160,000 | 4,020,000 | 4,445,000 | 4,242,000 | 5,998,000 | 5,601,000 | 5,522,000 | 5,531,000 | 5,942,000 | 6,187,000 | 6,120,000 | 6,115,000 |
total liabilities | 52,479,000 | 51,723,000 | 36,329,000 | 39,205,000 | 40,878,000 | 40,238,000 | 42,133,000 | 51,708,000 | 59,610,000 | 70,007,000 | 66,167,000 | 52,590,000 | 57,078,000 | 54,709,000 | 55,940,000 | 65,969,000 | 61,174,000 | 57,273,000 | 53,349,000 | 93,042,000 | 88,657,000 | 79,423,000 | 79,723,000 | 73,458,000 | 70,789,000 | 61,231,000 | 46,921,000 | 42,634,000 | 40,253,000 | 45,758,000 |
commitments and contingencies | ||||||||||||||||||||||||||||||
stockholders' equity: | ||||||||||||||||||||||||||||||
preferred stock, .001 par value... | ||||||||||||||||||||||||||||||
common stock, .001 par value... | 32,000 | 32,000 | 32,000 | 32,000 | 31,000 | 31,000 | 31,000 | 31,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 29,000 | 29,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | |||||
treasury stock | -18,057,000 | -17,484,000 | -16,367,000 | -16,367,000 | -10,550,000 | -9,875,000 | -9,875,000 | -9,853,000 | -6,348,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -4,477,000 | -3,742,000 | -3,060,000 | -3,060,000 | -3,060,000 | ||
additional paid-in-capital | 182,881,000 | 182,857,000 | 182,917,000 | 182,744,000 | 182,570,000 | 182,400,000 | 182,226,000 | 181,954,000 | 181,780,000 | 181,424,000 | 181,240,000 | 181,042,000 | 180,746,000 | 180,555,000 | 180,361,000 | 179,932,000 | 179,626,000 | 175,623,000 | 175,556,000 | 175,401,000 | 175,337,000 | 175,293,000 | 175,244,000 | 175,200,000 | 175,164,000 | 175,067,000 | 174,959,000 | 174,858,000 | 174,671,000 | 167,743,000 |
retained earnings | 374,137,000 | 363,209,000 | 355,016,000 | 346,371,000 | 331,676,000 | 321,400,000 | 306,890,000 | 291,087,000 | 274,898,000 | 259,758,000 | 252,683,000 | 236,594,000 | 221,574,000 | 205,996,000 | 186,311,000 | 171,576,000 | 154,315,000 | 138,223,000 | 124,536,000 | 109,803,000 | 97,376,000 | 88,352,000 | 77,865,000 | 67,978,000 | 59,382,000 | 50,357,000 | 43,497,000 | 37,359,000 | 28,726,000 | 21,513,000 |
total stockholders' equity | 538,993,000 | 528,614,000 | 521,598,000 | 512,780,000 | 503,728,000 | 493,956,000 | 479,272,000 | 463,219,000 | 450,361,000 | 436,735,000 | 429,476,000 | 413,189,000 | 397,873,000 | 382,104,000 | 362,225,000 | 347,060,000 | 329,493,000 | 309,394,000 | 295,640,000 | 280,752,000 | 268,261,000 | 259,193,000 | 248,657,000 | 238,726,000 | 230,829,000 | 222,389,000 | 215,421,000 | 209,182,000 | 203,422,000 | |
total liabilities and stockholders' equity | 591,472,000 | 580,337,000 | 557,927,000 | 551,985,000 | 544,606,000 | 534,194,000 | 521,405,000 | 514,927,000 | 509,971,000 | 506,742,000 | 495,643,000 | 465,779,000 | 454,951,000 | 436,813,000 | 418,165,000 | 413,029,000 | 390,667,000 | 366,667,000 | 348,989,000 | 373,794,000 | 356,918,000 | 338,616,000 | 328,380,000 | 312,184,000 | 301,618,000 | 283,620,000 | 262,342,000 | 251,816,000 | 243,675,000 | |
cash and cash equivalents | 8,478,000 | 546,000 | 1,531,000 | 3,233,000 | 2,818,000 | 11,268,000 | 14,267,000 | 2,528,000 | 1,042,000 | 853,000 | 809,000 | 2,408,000 | 768,000 | 1,643,000 | 1,024,000 | 3,717,000 | 1,724,000 | 1,864,000 | 2,422,000 | 3,098,000 | 2,599,000 | |||||||||
notes receivable from mobile home parks | 59,632,000 | 122,706,000 | 111,972,000 | 102,069,000 | 92,943,000 | 89,642,000 | 133,606,000 | 128,318,000 | 123,872,000 | 116,842,000 | 108,274,000 | 93,827,000 | 81,375,000 | 71,782,000 | 62,830,000 | 54,207,000 | 50,638,000 | |||||||||||||
and 23,812,341 and 24,158,311 outstanding at december 31, 2025 and 2024, respectively | 32,000 | |||||||||||||||||||||||||||||
consumer loans receivable, current | 9,299,000 | 9,098,000 | 8,867,000 | 8,623,000 | ||||||||||||||||||||||||||
notes receivable from mobile home parks (“mhp”), current | 66,918,000 | 20,434,000 | 22,422,000 | 23,770,000 | ||||||||||||||||||||||||||
other notes receivable, current | 4,304,000 | 11,083,000 | 13,072,000 | 12,152,000 | ||||||||||||||||||||||||||
current portion of contracts - dealer financed | 31,690,000 | 32,987,000 | 34,041,000 | 32,538,000 | 21,044,000 | 23,589,000 | 30,447,000 | 29,441,000 | 8,603,000 | |||||||||||||||||||||
current portion of consumer loans receivable | 8,372,000 | 8,100,000 | 7,903,000 | 7,682,000 | 7,408,000 | 7,144,000 | 6,893,000 | 6,801,000 | 6,562,000 | 5,759,000 | 6,203,000 | |||||||||||||||||||
current portion of notes receivable from mobile home parks | 30,378,000 | 42,459,000 | 45,178,000 | 18,156,000 | 15,496,000 | 12,499,000 | 9,906,000 | 9,670,000 | 8,944,000 | 10,310,000 | 8,311,000 | 10,049,000 | 10,591,000 | 12,178,000 | 11,967,000 | 12,468,000 | 12,768,000 | 11,795,000 | 9,454,000 | 10,969,000 | 10,225,000 | 9,168,000 | 8,339,000 | 7,297,000 | ||||||
current portion of other notes receivable | 3,422,000 | 15,058,000 | 14,669,000 | 6,013,000 | 6,258,000 | 4,446,000 | 8,608,000 | 8,927,000 | 9,577,000 | 16,791,000 | 26,556,000 | 21,070,000 | 15,128,000 | 1,612,000 | 1,757,000 | 2,054,000 | 2,574,000 | 582,000 | 545,000 | 428,000 | 121,000 | 222,000 | 773,000 | 379,000 | ||||||
contracts - dealer financed | 11,388,000 | 8,528,000 | 1,518,000 | 595,000 | 2,123,000 | |||||||||||||||||||||||||
held to maturity securities | 8,452,000 | 8,412,000 | ||||||||||||||||||||||||||||
notes receivable from mhp | 163,987,000 | 153,643,000 | 144,431,000 | |||||||||||||||||||||||||||
operating lease obligations | 514,000 | 561,000 | 652,000 | |||||||||||||||||||||||||||
operating lease obligations, less current portion | 1,515,000 | 1,615,000 | 1,959,000 | |||||||||||||||||||||||||||
accounts receivable - dealer financed | 10,394,000 | 6,715,000 | ||||||||||||||||||||||||||||
| 2,022,000 | 2,021,000 | 2,021,000 | 2,021,000 | 2,021,000 | 2,020,000 | 2,020,000 | 2,020,000 | ||||||||||||||||||||||
net revenue: | ||||||||||||||||||||||||||||||
product sales | 51,787,000 | 165,995,000 | 48,300,000 | 41,115,000 | 32,274,000 | 148,030,000 | 36,566,000 | 39,179,000 | ||||||||||||||||||||||
consumer and mhp loans interest | 6,765,000 | 27,195,000 | 7,259,000 | 6,734,000 | 6,638,000 | 25,360,000 | 6,428,000 | 6,067,000 | ||||||||||||||||||||||
other | 1,376,000 | 4,317,000 | 911,000 | 740,000 | 1,028,000 | 3,334,000 | 749,000 | 760,000 | ||||||||||||||||||||||
total net revenue | 59,928,000 | 197,507,000 | 56,470,000 | 48,589,000 | 39,940,000 | 176,724,000 | 43,743,000 | 46,006,000 | ||||||||||||||||||||||
operating expenses: | ||||||||||||||||||||||||||||||
cost of product sales | 33,727,000 | 114,050,000 | 33,392,000 | 28,608,000 | 24,024,000 | 109,723,000 | 27,839,000 | 30,557,000 | ||||||||||||||||||||||
selling, general and administrative expenses | 7,659,000 | 23,306,000 | 5,045,000 | 5,165,000 | ||||||||||||||||||||||||||
dealer incentive | 275,000 | 1,235,000 | 421,000 | 114,000 | 463,000 | 336,000 | 550,000 | 186,000 | ||||||||||||||||||||||
income from operations | 18,267,000 | 58,916,000 | 17,612,000 | 14,702,000 | 10,660,000 | 47,597,000 | 10,829,000 | 11,199,000 | ||||||||||||||||||||||
other income: | ||||||||||||||||||||||||||||||
non‑operating interest income | 853,000 | 2,095,000 | 588,000 | 429,000 | 248,000 | 915,000 | 246,000 | 215,000 | ||||||||||||||||||||||
miscellaneous | 586,000 | 503,000 | 116,000 | 34,000 | 204,000 | 288,000 | 96,000 | 11,000 | ||||||||||||||||||||||
interest expense | -56,000 | -887,000 | -318,000 | -283,000 | -226,000 | -1,053,000 | -239,000 | -239,000 | ||||||||||||||||||||||
total other income | 1,383,000 | |||||||||||||||||||||||||||||
income before income tax expense | 19,650,000 | 60,627,000 | 17,998,000 | 14,882,000 | 10,886,000 | 48,822,000 | 10,932,000 | 11,186,000 | ||||||||||||||||||||||
income tax expense | -3,558,000 | -10,756,000 | -3,265,000 | -2,454,000 | -1,862,000 | -10,827,000 | -2,486,000 | -2,590,000 | ||||||||||||||||||||||
net income | 16,092,000 | 49,871,000 | 14,733,000 | 12,428,000 | 9,024,000 | 37,995,000 | 8,446,000 | 8,596,000 | ||||||||||||||||||||||
weighted-average shares outstanding: | ||||||||||||||||||||||||||||||
basic | 24,351,223,000 | 24,204,437,000 | 24,204,362,000 | 24,202,631,000 | 24,199,107,000 | 24,226,128,000 | 24,192,157,000 | 24,201,220,000 | ||||||||||||||||||||||
diluted | 24,661,426,000 | 24,275,989,000 | 24,283,666,000 | 24,234,913,000 | 24,211,182,000 | 24,236,395,000 | 24,214,279,000 | 24,201,823,000 | ||||||||||||||||||||||
net income per share | ||||||||||||||||||||||||||||||
current portion of consumer loans | 6,080,000 | 5,883,000 | 5,663,000 | 5,237,000 | 5,348,000 | 5,167,000 | 5,070,000 | 6,138,000 | 5,994,000 | 8,109,000 | 5,252,000 | |||||||||||||||||||
consumer loans | 119,543,000 | 115,754,000 | 110,362,000 | |||||||||||||||||||||||||||
accrued liabilities, net of current portion | 630,000 | 630,000 | ||||||||||||||||||||||||||||
gain on settlement | 1,075,000 | |||||||||||||||||||||||||||||
total other | 1,711,000 | 386,000 | 180,000 | 226,000 | 1,225,000 | 103,000 | -13,000 | |||||||||||||||||||||||
consumer loans, net of deferred financing fees and allowance for loan losses | 108,443,000 | 106,572,000 | 103,406,000 | 102,166,000 | 99,448,000 | 99,048,000 | 94,981,000 | 95,772,000 | 93,772,000 | 92,230,000 | ||||||||||||||||||||
other notes receivable, net of allowance for loan losses | 18,979,000 | 13,050,000 | 13,088,000 | 13,058,000 | 13,064,000 | 13,050,000 | 5,090,000 | 3,179,000 | 2,817,000 | 1,912,000 | ||||||||||||||||||||
inventory non‑current | 7,467,000 | 8,656,000 | 10,140,000 | 12,516,000 | 11,456,000 | 11,930,000 | 12,302,000 | 11,429,000 | 10,451,000 | 7,399,000 | ||||||||||||||||||||
selling, general administrative expenses | 4,793,000 | 19,068,000 | 4,525,000 | 4,064,000 | ||||||||||||||||||||||||||
line of credit | 28,860,000 | 10,851,000 | 7,124,000 | |||||||||||||||||||||||||||
current portion of notes payable | 189,000 | 187,000 | 185,000 | 228,000 | ||||||||||||||||||||||||||
note payable, net of current portion | 3,226,000 | 3,274,000 | 3,321,000 | 3,737,000 | ||||||||||||||||||||||||||
24,000,000 issued at september 30, 2019 and december 31, 2018, respectively | 25,000 | |||||||||||||||||||||||||||||
24,000,000 issued at june 30, 2019 and december 31, 2018, respectively | 25,000 | |||||||||||||||||||||||||||||
current portion consumer loans | 5,132,000 | 4,945,000 | ||||||||||||||||||||||||||||
24,000,000 issued and outstanding at march 31, 2019 and december 31, 2018, respectively | 25,000 | |||||||||||||||||||||||||||||
liabilities and equity | ||||||||||||||||||||||||||||||
note payable to related party | ||||||||||||||||||||||||||||||
equity: | ||||||||||||||||||||||||||||||
issued and outstanding as of december 31, 2018 and 2017, respectively | 24,000 | |||||||||||||||||||||||||||||
partners’ capital | ||||||||||||||||||||||||||||||
total equity | 189,280,000 | |||||||||||||||||||||||||||||
total liabilities and equity | 235,038,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2029-09-30 | 2029-06-30 | 2029-03-31 | 2028-09-30 | 2028-06-30 | 2028-03-31 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ||||||||||||||||||||||||||||||||||
net cash from operating activities | 7,153,000 | 6,062,000 | 4,908,000 | 13,835,000 | 3,459,000 | 10,806,000 | 6,951,000 | 19,029,000 | 7,153,000 | 6,062,000 | 4,908,000 | 7,893,000 | 13,835,000 | 3,459,000 | 10,806,000 | -8,252,000 | 2,180,000 | -4,773,000 | -2,691,000 | -2,481,000 | 4,746,000 | -2,899,000 | -1,057,000 | 55,204,000 | -3,286,000 | -1,692,000 | 6,311,000 | -3,082,000 | -719,000 | -4,547,000 | -7,269,000 | -265,000 | -50,000 | 3,391,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | -1,530,000 | -3,334,000 | -2,031,000 | -2,375,000 | -1,261,000 | -1,889,000 | -4,715,000 | -1,737,000 | -871,000 | -3,141,000 | -3,035,000 | -776,000 | -761,000 | -532,000 | -1,762,000 | -643,000 | -863,000 | -2,266,000 | -613,000 | -1,717,000 | -689,000 | -1,374,000 | -416,000 | -366,000 | 272,000 | -3,024,000 | -697,000 | -757,000 |
free cash flows | 7,153,000 | 6,062,000 | 4,908,000 | 13,835,000 | 3,459,000 | 10,806,000 | 5,421,000 | 15,695,000 | 5,122,000 | 3,687,000 | 3,647,000 | 6,004,000 | 9,120,000 | 1,722,000 | 9,935,000 | -11,393,000 | -855,000 | -5,549,000 | -3,452,000 | -3,013,000 | 2,984,000 | -3,542,000 | -1,920,000 | 52,938,000 | -3,899,000 | -3,409,000 | 5,622,000 | -4,456,000 | -1,135,000 | -4,913,000 | -6,997,000 | -3,289,000 | -747,000 | 2,634,000 |
net cash from investing activities | 3,908,000 | -1,170,000 | -1,968,000 | -579,000 | 2,721,000 | -654,000 | -22,848,000 | 3,908,000 | -1,170,000 | -1,968,000 | -5,203,000 | -3,653,000 | -579,000 | 2,721,000 | -2,213,000 | -11,493,000 | 6,123,000 | -2,186,000 | -8,514,000 | 7,523,000 | 7,318,000 | 2,754,000 | -13,866,000 | -2,355,000 | -6,127,000 | 1,036,000 | -3,340,000 | -37,000 | -377,000 | -8,227,000 | -4,686,000 | -215,000 | -1,985,000 | |
net cash from financing activities | -141,000 | -5,675,000 | -675,000 | -9,672,000 | -3,441,000 | -13,654,000 | -664,000 | -1,254,000 | -141,000 | -5,675,000 | -675,000 | -2,111,000 | -9,672,000 | -3,441,000 | -13,654,000 | 10,667,000 | 8,328,000 | -3,052,000 | 5,292,000 | 2,545,000 | -15,268,000 | 7,320,000 | -211,000 | -41,294,000 | 4,042,000 | 9,459,000 | -8,222,000 | 7,041,000 | -1,937,000 | 6,917,000 | 15,356,000 | 4,393,000 | -411,000 | -907,000 |
net change in cash | 10,920,000 | -783,000 | 2,265,000 | 510,000 | -561,000 | -127,000 | ||||||||||||||||||||||||||||
cash at beginning of period | 0 | 0 | 1,149,000 | 0 | 0 | 748,000 | 8,478,000 | 0 | 0 | 0 | 1,149,000 | 0 | 0 | 0 | 748,000 | |||||||||||||||||||
cash at end of period | 10,920,000 | -783,000 | 3,414,000 | 510,000 | -561,000 | 621,000 | 14,111,000 | -5,073,000 | 10,920,000 | -783,000 | 3,414,000 | 579,000 | 510,000 | -561,000 | 621,000 | |||||||||||||||||||
contractual obligations | ||||||||||||||||||||||||||||||||||
lines of credit | ||||||||||||||||||||||||||||||||||
operating lease obligations | ||||||||||||||||||||||||||||||||||
net cash (used in) investing activities | ||||||||||||||||||||||||||||||||||
operating activities: | ||||||||||||||||||||||||||||||||||
net income | 10,928,000 | 8,193,000 | 8,645,000 | 14,695,000 | 10,276,000 | 14,511,000 | 15,802,000 | 16,189,000 | 15,140,000 | 7,076,000 | 16,088,000 | 15,020,000 | 16,276,000 | 19,685,000 | 14,736,000 | 17,260,000 | 16,092,000 | 14,732,000 | 12,427,000 | 9,024,000 | 10,488,000 | 9,888,000 | 8,594,000 | 9,025,000 | 6,860,000 | 6,138,000 | 8,633,000 | 7,213,000 | ||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||
depreciation and amortization expense | 670,000 | 579,000 | 419,000 | 435,000 | 423,000 | 504,000 | 504,000 | 475,000 | 423,000 | 447,000 | 430,000 | 419,000 | 430,000 | 550,000 | 506,000 | 450,000 | 430,000 | |||||||||||||||||
amortization of deferred revenue | -341,000 | -378,000 | -343,000 | -368,000 | -341,000 | -390,000 | -563,000 | -349,000 | -729,000 | -329,000 | -383,000 | -283,000 | -290,000 | 159,000 | -815,000 | -319,000 | -408,000 | |||||||||||||||||
operating lease amortization | -14,000 | |||||||||||||||||||||||||||||||||
amortization of lines of credit cost | 17,000 | 17,000 | 17,000 | 17,000 | 19,000 | |||||||||||||||||||||||||||||
provision for accounts and notes receivable | 1,121,000 | 3,247,000 | 545,000 | 893,000 | 692,000 | -35,000 | -374,000 | 340,000 | -171,000 | 399,000 | 869,000 | 129,000 | -43,000 | -29,000 | -109,000 | -8,000 | 37,000 | |||||||||||||||||
(gain) or loss from sale of property | 101,000 | |||||||||||||||||||||||||||||||||
provision for inventories | -25,000 | 88,000 | 20,000 | 15,000 | ||||||||||||||||||||||||||||||
deferred income taxes | -123,000 | |||||||||||||||||||||||||||||||||
share based compensation expense | 24,000 | 174,000 | 173,000 | 171,000 | ||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||
accounts receivable | 5,606,000 | -6,876,000 | -634,000 | 681,000 | -1,181,000 | 1,132,000 | -809,000 | 184,000 | 237,000 | -645,000 | 1,185,000 | -1,610,000 | 915,000 | 123,000 | 870,000 | 1,159,000 | -1,843,000 | -2,319,000 | -1,993,000 | -47,000 | -975,000 | -1,057,000 | 1,721,000 | -1,405,000 | 58,000 | 1,303,000 | -393,000 | -142,000 | ||||||
interest receivable | -226,000 | |||||||||||||||||||||||||||||||||
consumer loans activity | -1,215,000 | -2,102,000 | -2,279,000 | -7,114,000 | -5,459,000 | -7,044,000 | -5,106,000 | -2,524,000 | -2,428,000 | -5,163,000 | -5,199,000 | -4,713,000 | -2,287,000 | -4,594,000 | -3,547,000 | -3,588,000 | -1,617,000 | |||||||||||||||||
notes receivable mhp activity | -345,000 | 4,783,000 | 1,635,000 | -350,000 | 3,854,000 | 2,416,000 | 1,663,000 | -4,183,000 | -1,245,000 | -2,324,000 | -13,529,000 | -11,672,000 | -11,667,000 | -11,371,000 | -8,883,000 | -11,833,000 | -7,336,000 | |||||||||||||||||
dealer inventory loan activity | 1,942,000 | 2,253,000 | 2,103,000 | -881,000 | 901,000 | -910,000 | 1,293,000 | 1,045,000 | -1,228,000 | -99,000 | -445,000 | -197,000 | -2,189,000 | -18,796,000 | -820,000 | |||||||||||||||||||
inventories | -10,505,000 | 851,000 | 865,000 | -3,882,000 | 1,472,000 | 1,561,000 | 2,245,000 | -2,097,000 | 1,055,000 | -1,201,000 | -1,084,000 | -726,000 | 15,724,000 | -2,903,000 | 362,000 | -7,484,000 | 4,269,000 | -5,362,000 | -3,502,000 | 2,112,000 | 902,000 | 4,085,000 | -3,821,000 | 1,125,000 | 4,731,000 | 3,404,000 | 1,015,000 | |||||||
prepaid expenses and other current assets | -359,000 | -1,045,000 | 196,000 | 437,000 | -331,000 | -2,181,000 | 2,375,000 | -505,000 | -754,000 | 174,000 | -1,209,000 | -593,000 | 305,000 | 68,000 | 271,000 | -243,000 | 389,000 | -1,678,000 | -460,000 | -433,000 | -41,000 | 31,000 | 500,000 | 1,428,000 | -2,009,000 | -255,000 | 778,000 | -390,000 | ||||||
other assets - leased mobile homes | 318,000 | 6,000 | 1,000 | -1,000 | 272,000 | -36,000 | 133,000 | 0 | 2,427,000 | |||||||||||||||||||||||||
other assets | -1,810,000 | -3,305,000 | -1,847,000 | -1,386,000 | -1,172,000 | 853,000 | 549,000 | -863,000 | -694,000 | -1,236,000 | 0 | 528,000 | -538,000 | 2,972,000 | -156,000 | -207,000 | -4,058,000 | -1,476,000 | -871,000 | -5,000 | -2,170,000 | -1,500,000 | -691,000 | -513,000 | -239,000 | -225,000 | -781,000 | -467,000 | ||||||
accounts payable and accrued liabilities | -8,014,000 | 15,437,000 | -1,020,000 | -2,533,000 | -547,000 | 2,416,000 | -827,000 | -5,848,000 | 772,000 | -5,115,000 | 7,004,000 | -2,003,000 | 109,000 | -410,000 | 952,000 | |||||||||||||||||||
right of use activity | 15,000 | 6,000 | 6,000 | 8,000 | 7,000 | 8,000 | 5,000 | 34,000 | -14,000 | |||||||||||||||||||||||||
customer deposits | 9,305,000 | 329,000 | -935,000 | 85,000 | 404,000 | -545,000 | 262,000 | -1,883,000 | -37,000 | -1,730,000 | -2,398,000 | 928,000 | -2,369,000 | -2,525,000 | 306,000 | 3,160,000 | 1,025,000 | 599,000 | 595,000 | 1,530,000 | 1,151,000 | 731,000 | -490,000 | 661,000 | -178,000 | 148,000 | -677,000 | 52,000 | ||||||
escrow liability | 389,000 | -442,000 | 375,000 | 787,000 | 766,000 | -1,077,000 | 914,000 | 833,000 | 849,000 | -904,000 | 985,000 | 750,000 | -380,000 | -919,000 | 556,000 | 874,000 | -208,000 | 613,000 | 722,000 | 286,000 | -576,000 | 757,000 | 585,000 | -567,000 | 761,000 | 712,000 | 732,000 | -626,000 | ||||||
dealer incentive liability | -508,000 | -130,000 | -997,000 | -33,000 | 134,000 | 95,000 | -339,000 | -686,000 | 40,000 | 436,000 | -196,000 | -576,000 | 80,000 | 261,000 | 281,000 | 377,000 | 261,000 | 140,000 | -425,000 | 203,000 | -1,756,000 | 398,000 | -411,000 | -245,000 | 67,000 | 5,000 | ||||||||
investing activities: | ||||||||||||||||||||||||||||||||||
purchases of property, plant and equipment | -1,530,000 | -3,334,000 | -2,031,000 | -2,375,000 | -1,261,000 | -1,889,000 | -4,715,000 | -1,737,000 | -871,000 | -3,141,000 | -3,035,000 | -776,000 | -761,000 | -532,000 | -1,762,000 | -643,000 | -863,000 | -2,266,000 | -613,000 | -1,717,000 | -689,000 | -1,374,000 | -416,000 | -366,000 | 272,000 | -3,024,000 | -697,000 | -757,000 | ||||||
proceeds from sale of property | 1,016,000 | 0 | 34,000 | 160,000 | 0 | 0 | 1,551,000 | 22,000 | ||||||||||||||||||||||||||
issuance of notes receivable | -414,000 | -390,000 | 144,000 | -357,000 | -979,000 | -3,841,000 | 31,000 | -1,141,000 | -590,000 | -840,000 | -8,696,000 | -2,143,000 | -3,107,000 | -1,341,000 | -630,000 | -862,000 | -1,561,000 | -13,573,000 | -7,846,000 | -5,708,000 | 348,000 | -5,152,000 | -63,000 | -215,000 | -8,484,000 | -1,860,000 | -131,000 | -1,400,000 | ||||||
notes receivable collections | 202,000 | 9,000 | 5,662,000 | 1,557,000 | 17,000 | 674,000 | 976,000 | 692,000 | 4,107,000 | 1,717,000 | 82,000 | 478,000 | 468,000 | -49,000 | 9,813,000 | 8,685,000 | 5,046,000 | 1,821,000 | 5,864,000 | 76,000 | 1,111,000 | 3,131,000 | 31,000 | 85,000 | -200,000 | 50,000 | 421,000 | 101,000 | ||||||
collections from purchased loans | 72,000 | 175,000 | 20,000 | 84,000 | 95,000 | 70,000 | 55,000 | 56,000 | 53,000 | 51,000 | 156,000 | 64,000 | 106,000 | 110,000 | 102,000 | 138,000 | 132,000 | 152,000 | ||||||||||||||||
financing activities: | ||||||||||||||||||||||||||||||||||
purchases of treasury stock | -573,000 | -1,118,000 | 1,000 | -5,817,000 | -675,000 | 0 | -22,000 | -3,505,000 | -1,871,000 | |||||||||||||||||||||||||
proceeds from lines of credit | 13,000,000 | 761,000 | 0 | 1,019,000 | 15,154,000 | 17,501,000 | 12,736,000 | 26,425,000 | 42,094,000 | 22,054,000 | 20,188,000 | -8,005,000 | 45,731,000 | 42,532,000 | 20,331,000 | 29,163,000 | 23,728,000 | 22,381,000 | 15,550,000 | 21,916,000 | 11,802,000 | 18,430,000 | 26,481,000 | 12,921,000 | 24,802,000 | 1,482,000 | ||||||||
payments on lines of credit | -13,091,000 | -897,000 | -142,000 | -3,130,000 | -24,904,000 | -17,437,000 | -24,619,000 | -15,758,000 | -33,766,000 | -25,206,000 | -14,896,000 | 10,550,000 | -58,474,000 | -35,031,000 | -23,248,000 | -70,557,000 | -19,400,000 | -13,208,000 | -23,196,000 | -15,632,000 | -13,589,000 | -10,264,000 | -8,471,000 | -9,194,000 | -22,840,000 | -7,999,000 | ||||||||
net increase in cash | 5,633,000 | -5,073,000 | 10,920,000 | -783,000 | 2,265,000 | -127,000 | ||||||||||||||||||||||||||||
supplemental disclosure of cash flow information: | ||||||||||||||||||||||||||||||||||
cash paid for interest | -2,000 | 99,000 | 225,000 | 269,000 | 411,000 | 206,000 | 63,000 | 150,000 | 59,000 | 43,000 | 4,000 | 160,000 | 44,000 | 84,000 | 258,000 | 206,000 | 215,000 | 217,000 | 252,000 | 301,000 | 170,000 | 147,000 | 178,000 | 227,000 | ||||||||||
cash paid for taxes | 1,000 | -1,423,000 | 2,757,000 | 5,107,000 | 13,000 | 2,809,000 | 3,012,000 | 8,347,000 | 117,000 | 6,568,000 | 3,827,000 | -1,359,000 | 2,072,000 | 6,537,000 | 3,064,000 | 2,494,000 | 2,800,000 | 2,900,000 | 0 | 4,267,000 | 1,988,000 | |||||||||||||
provision for long term inventory | 15,000 | 60,000 | 85,000 | 89,000 | -14,000 | 48,000 | 13,000 | -130,000 | ||||||||||||||||||||||||||
gain from sale of assets | -721,000 | 0 | ||||||||||||||||||||||||||||||||
gain from loan settlements | 526,000 | -2,636,000 | ||||||||||||||||||||||||||||||||
non-cash operating lease expense | 16,000 | -40,000 | -4,000 | -5,000 | -10,000 | -11,000 | -11,000 | -12,000 | ||||||||||||||||||||||||||
share based payment expense | 173,000 | 173,000 | 174,000 | 257,000 | 192,000 | 431,000 | 306,000 | 4,007,000 | 55,000 | 64,000 | 44,000 | 49,000 | 44,000 | 36,000 | 97,000 | 108,000 | 100,000 | 188,000 | 234,000 | |||||||||||||||
changes in operating assets and liabilities, net of the impact of the acquisition: | ||||||||||||||||||||||||||||||||||
inventory | ||||||||||||||||||||||||||||||||||
right of use asset | ||||||||||||||||||||||||||||||||||
purchase of americasa | ||||||||||||||||||||||||||||||||||
purchases of loans | ||||||||||||||||||||||||||||||||||
proceeds from exercise of stock options | 0 | 100,000 | 0 | 100,000 | 0 | 0 | ||||||||||||||||||||||||||||
other non cash items | 17,000 | 17,000 | 17,000 | |||||||||||||||||||||||||||||||
gain from sale of property | -10,000 | -82,000 | ||||||||||||||||||||||||||||||||
gain on foreclosure of property | ||||||||||||||||||||||||||||||||||
foreclosure of properties related to other notes receivable | ||||||||||||||||||||||||||||||||||
amortization of other costs | ||||||||||||||||||||||||||||||||||
proceeds from sale of leased property | 0 | 0 | 0 | 1,108,000 | ||||||||||||||||||||||||||||||
sale of investments - treasury notes | 0 | 0 | ||||||||||||||||||||||||||||||||
net decrease in cash | 510,000 | |||||||||||||||||||||||||||||||||
gain from sale of leased property | -57,000 | 0 | 0 | 0 | -507,000 | |||||||||||||||||||||||||||||
amortization of treasury note discount | 0 | 0 | -36,000 | -40,000 | ||||||||||||||||||||||||||||||
gain on disposal of treasury note | 0 | 0 | ||||||||||||||||||||||||||||||||
purchase of investments - treasury notes | ||||||||||||||||||||||||||||||||||
cash at beginning of year | ||||||||||||||||||||||||||||||||||
cash at end of year | ||||||||||||||||||||||||||||||||||
acquisition of property plant and equipment, included in accrued liabilities | ||||||||||||||||||||||||||||||||||
provision for inventory | -30,000 | 26,000 | 19,000 | |||||||||||||||||||||||||||||||
amortization of operating lease right of use asset | -12,000 | -40,000 | 14,000 | -2,960,000 | ||||||||||||||||||||||||||||||
share-based payment expense | 199,000 | 195,000 | 192,000 | |||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | -985,000 | -1,702,000 | 415,000 | -8,450,000 | -2,999,000 | 11,739,000 | 1,486,000 | 44,000 | -1,599,000 | 1,640,000 | -2,693,000 | 1,993,000 | -140,000 | -558,000 | -676,000 | 499,000 | ||||||||||||||||||
cash and cash equivalents at beginning of period | 1,000 | 0 | 2,818,000 | 0 | 0 | 1,042,000 | 0 | 0 | 768,000 | 0 | 0 | 1,724,000 | 0 | 0 | 2,599,000 | |||||||||||||||||||
cash and cash equivalents at end of period | -984,000 | -1,702,000 | 3,233,000 | -2,999,000 | 11,739,000 | 2,528,000 | 44,000 | -1,599,000 | 2,408,000 | 619,000 | -2,693,000 | 3,717,000 | -558,000 | -676,000 | 3,098,000 | |||||||||||||||||||
proceeds from other liabilities | -181,000 | 2,706,000 | ||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of year | ||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of year | ||||||||||||||||||||||||||||||||||
inventory loan activity | -3,249,000 | |||||||||||||||||||||||||||||||||
accounts payable | 3,035,000 | -2,023,000 | -1,229,000 | -775,000 | 5,434,000 | 286,000 | 1,012,000 | -1,703,000 | 1,539,000 | -133,000 | 46,000 | 888,000 | ||||||||||||||||||||||
depreciation expense | 403,000 | 392,000 | 362,000 | 338,000 | 302,000 | 291,000 | 281,000 | 249,000 | 271,000 | 253,000 | 241,000 | |||||||||||||||||||||||
amortization of debt discount and issuance costs | -809,000 | 249,000 | 18,000 | 17,000 | ||||||||||||||||||||||||||||||
provision for loan loss—consumer loans | 28,000 | 23,000 | 535,000 | 233,000 | 306,000 | 65,000 | 215,000 | 119,000 | -799,000 | 1,043,000 | 406,000 | |||||||||||||||||||||||
consumer loans originations | -8,224,000 | -7,396,000 | -4,334,000 | -7,065,000 | -4,729,000 | -4,744,000 | -3,174,000 | -4,605,000 | -4,567,000 | -4,736,000 | -5,053,000 | |||||||||||||||||||||||
consumer loans principal collections | 2,986,000 | 4,512,000 | 1,881,000 | 3,251,000 | 3,030,000 | 2,618,000 | 2,297,000 | 2,449,000 | 3,152,000 | 1,281,000 | 2,847,000 | |||||||||||||||||||||||
notes receivable mhp originations | -13,248,000 | -12,166,000 | -11,483,000 | -13,892,000 | -17,092,000 | -20,333,000 | -17,205,000 | -13,708,000 | -18,182,000 | -16,230,000 | -12,849,000 | |||||||||||||||||||||||
notes receivable mhp principal collections | 58,781,000 | 6,955,000 | 6,473,000 | 6,165,000 | 7,551,000 | 3,546,000 | 6,267,000 | 3,371,000 | 8,174,000 | 6,778,000 | 8,238,000 | |||||||||||||||||||||||
accrued liabilities | 2,375,000 | 391,000 | -1,183,000 | 2,885,000 | -2,190,000 | 2,975,000 | 3,012,000 | -1,921,000 | 124,000 | 296,000 | 1,153,000 | |||||||||||||||||||||||
treasury stock purchase | 0 | 0 | -735,000 | -682,000 | 0 | 0 | ||||||||||||||||||||||||||||
proceeds from issuance of note payable | 0 | 0 | ||||||||||||||||||||||||||||||||
principal payments on note payable | 0 | 0 | -3,415,000 | -46,000 | -45,000 | -459,000 | ||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash used by operating activities: | ||||||||||||||||||||||||||||||||||
purchases of consumer loans | -170,000 | -126,000 | 0 | -191,000 | -258,000 | 0 | 0 | -101,000 | ||||||||||||||||||||||||||
collections from purchased consumer loans | 1,222,000 | 406,000 | 181,000 | 411,000 | 310,000 | 443,000 | 148,000 | 192,000 | 172,000 | |||||||||||||||||||||||||
gain on sale of land | ||||||||||||||||||||||||||||||||||
proceeds from sale of land | ||||||||||||||||||||||||||||||||||
proceeds from sale of over-allotment common stock in initial public offering | 0 | 0 | 0 | 7,200,000 | ||||||||||||||||||||||||||||||
offering cost for over-allotment of initial public offering | 0 | 0 | 0 | -505,000 | ||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -875,000 | |||||||||||||||||||||||||||||||||
supplemental disclosure of non‑cash transactions: | ||||||||||||||||||||||||||||||||||
note receivable received in exchange of asset | ||||||||||||||||||||||||||||||||||
asset received in exchange of accounts receivable | ||||||||||||||||||||||||||||||||||
asset received in exchange of note receivable | ||||||||||||||||||||||||||||||||||
proceeds from sale of common stock in initial public offering | ||||||||||||||||||||||||||||||||||
offering cost for initial public offering | ||||||||||||||||||||||||||||||||||
principal payments on affiliate note payable | ||||||||||||||||||||||||||||||||||
partner distributions | ||||||||||||||||||||||||||||||||||
sale of an asset in exchange for note receivable |
