Latest Ratios: P/E Ratio 14.9x · EV/EBITDA 12.2x · ROE 8.2%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $617M | $468M | $612M | $632M | $469M | $643M | $366M | $407M | $241M | — | — |
| Enterprise Value | $611M | $462M | $613M | $657M | $472M | $650M | $402M | $436M | $256M | — | — |
| P/E Ratio → | 14.92 | 11.22 | 9.95 | 11.62 | 6.92 | 12.91 | 9.62 | 14.10 | 11.15 | — | — |
| P/S Ratio | 3.75 | 2.84 | 3.32 | 3.34 | 1.83 | 3.25 | 2.07 | 2.41 | 1.49 | — | — |
| P/B Ratio | 1.18 | 0.89 | 1.24 | 1.45 | 1.23 | 2.08 | 1.41 | 1.83 | 1.27 | — | — |
| P/FCF | 21.93 | 16.63 | 22.86 | — | — | 11.82 | — | — | — | — | — |
| P/OCF | 16.62 | 12.60 | 17.01 | — | — | 10.66 | — | — | 85.44 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.81 | 3.33 | 3.47 | 1.83 | 3.29 | 2.27 | 2.58 | 1.58 | — | — |
| EV / EBITDA | 12.16 | 9.20 | 9.35 | 9.91 | 5.91 | 10.74 | 8.23 | 11.22 | 7.61 | — | — |
| EV / EBIT | 12.63 | 8.96 | 7.98 | 9.43 | 5.71 | 10.56 | 8.05 | 11.38 | 7.72 | — | — |
| EV / FCF | — | 16.42 | 22.87 | — | — | 11.95 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.4% | 47.4% | 51.1% | 47.3% | 41.6% | 42.3% | 37.9% | 37.9% | 33.8% | 35.9% | 30.0% |
| Operating Margin | 29.4% | 29.4% | 34.5% | 34.1% | 30.4% | 29.8% | 26.9% | 22.4% | 20.3% | 21.8% | 16.7% |
| Net Profit Margin | 25.4% | 25.4% | 33.5% | 28.8% | 26.4% | 25.3% | 21.5% | 17.1% | 13.3% | 20.5% | 15.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 8.2% | 13.2% | 13.3% | 19.6% | 17.5% | 15.8% | 14.0% | 13.7% | 22.0% | 15.0% |
| ROA | 7.5% | 7.5% | 11.8% | 11.5% | 16.8% | 14.1% | 12.2% | 11.1% | 9.7% | 13.6% | 9.6% |
| ROIC | 7.1% | 7.1% | 10.0% | 11.4% | 16.7% | 14.5% | 13.1% | 12.5% | 12.7% | 12.3% | 8.6% |
| ROCE | 9.4% | 9.4% | 13.1% | 14.9% | 21.6% | 18.8% | 17.8% | 17.0% | 16.4% | 16.0% | 11.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.06 | 0.01 | 0.03 | 0.14 | 0.14 | 0.09 | 0.47 | 0.39 |
| Debt / EBITDA | 0.05 | 0.05 | 0.02 | 0.39 | 0.07 | 0.13 | 0.74 | 0.79 | 0.52 | 2.04 | 2.39 |
| Net Debt / Equity | — | -0.01 | 0.00 | 0.06 | 0.01 | 0.02 | 0.14 | 0.13 | 0.08 | 0.47 | 0.38 |
| Net Debt / EBITDA | -0.12 | -0.12 | 0.00 | 0.37 | 0.03 | 0.11 | 0.73 | 0.75 | 0.45 | 2.03 | 2.34 |
| Debt / FCF | — | -0.21 | 0.01 | — | — | 0.13 | — | — | — | 17.88 | — |
| Interest Coverage | 1842.64 | 1842.64 | 111.36 | 74.91 | 220.06 | 69.35 | 47.36 | 54.55 | 13.22 | 13.95 | 15.07 |
Net cash position: cash ($8M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.51 | 3.51 | 3.80 | 2.89 | 2.58 | 2.21 | 1.50 | 1.02 | 3.10 | 2.50 | 3.20 |
| Quick Ratio | 2.66 | 2.66 | 2.65 | 2.00 | 1.81 | 1.22 | 0.75 | 0.50 | 1.04 | 0.84 | 1.16 |
| Cash Ratio | 0.18 | 0.18 | 0.04 | 0.02 | 0.27 | 0.02 | 0.02 | 0.03 | 0.13 | 0.02 | 0.07 |
| Asset Turnover | — | 0.28 | 0.34 | 0.37 | 0.59 | 0.54 | 0.52 | 0.60 | 0.69 | 0.62 | 0.61 |
| Inventory Turnover | 2.17 | 2.17 | 2.40 | 3.00 | 4.68 | 2.77 | 4.03 | 3.85 | 2.55 | 2.09 | 2.64 |
| Days Sales Outstanding | — | 247.80 | 160.74 | 133.24 | 84.80 | 84.66 | 18.35 | 41.39 | 35.12 | 50.05 | 45.13 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | 67.1% | 39.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 8.9% | 10.0% | 8.6% | 14.5% | 7.7% | 10.4% | 7.1% | 9.0% | — | — |
| FCF Yield | 4.6% | 6.0% | 4.4% | — | — | 8.5% | — | — | — | — | — |
| Buyback Yield | 1.2% | 1.6% | 0.9% | 0.0% | 0.0% | 0.0% | 0.4% | 0.8% | 0.0% | — | — |
| Total Shareholder Yield | 1.2% | 1.6% | 0.9% | 0.0% | 0.0% | 0.0% | 0.4% | 0.8% | 0.0% | — | — |
| Shares Outstanding | — | $24M | $25M | $25M | $25M | $24M | $24M | $24M | $20M | $24M | $20M |
Captive Loan Portfolio Concentration
According to recent market data, Legacy Housing trades at a P/E of 14.97, which appears to undervalue the firm relative to peers like Skyline Champion and Cavco, likely because investors fail to distinguish between cyclical manufacturing revenue and the company's stable, high-margin captive interest income stream.
The current forward P/E of 12.23 suggests that the market is pricing in a significant deceleration in growth, potentially ignoring the defensive nature of the company's loan portfolio. Investors should monitor whether the valuation gap narrows as the market begins to recognize the annuity-like characteristics of the financing arm.
Based on reported financial figures, Legacy Housing's ROIC has hovered between 1.4% and 2.7% over the last ten quarters, a trend that suggests the company is currently under-earning on its capital base compared to industry peers who utilize more aggressive leverage to amplify their returns.
The persistent lack of debt, while providing a fortress balance sheet, appears to be a drag on ROE, as the company holds significant cash that is not being deployed into higher-yielding assets. This conservative capital allocation strategy warrants further investigation into whether management intends to pursue more aggressive growth or community development.
As reported in recent quarterly filings, the company's cash conversion cycle remains notably elevated at 528 days in 2026Q1, a figure that reflects the long-term nature of the consumer loan portfolio rather than operational inefficiencies in the manufacturing of homes or inventory management.
The high DSO and DIO metrics are structural consequences of the 'bank with a factory' model, where the company effectively acts as a long-term lender to its customers. Analysts should be cautious not to interpret these extended cycles as a sign of poor inventory turnover, but rather as a reflection of the company's unique credit-based business model.
Data from peer comparisons indicates that Legacy Housing maintains a unique financial profile, with a 0.00% debt-to-equity ratio that stands in stark contrast to the more leveraged capital structures of peers like Skyline Champion and Cavco, which rely heavily on external financing to drive their operations.
This structural divergence suggests that Legacy Housing is less sensitive to interest rate volatility on its own balance sheet, though it remains exposed to the credit risk of its borrowers. The gap in net margins compared to peers appears to be a direct result of this vertical integration, which allows for the capture of interest income that pure-play builders cannot access.
The most commonly misapplied metric for Legacy Housing is the standard P/S ratio, which obscures the company's true earning power by failing to account for the high-margin interest income that is fundamentally different from the transactional revenue generated by traditional residential construction firms.
Investors should instead focus on adjusted net margins and loan portfolio yields to better understand the company's profitability. Relying on traditional builder valuation multiples may lead to an incorrect assessment of the firm's risk profile and its ability to generate cash during cyclical downturns in the housing market.
Includes 30+ ratios · 10 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LEGH stock.
Legacy Housing Corporation's current P/E ratio is 14.9x. The historical average is 10.9x. This places it at the 100th percentile of its historical range.
Legacy Housing Corporation's current EV/EBITDA is 12.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.0x.
Legacy Housing Corporation's return on equity (ROE) is 8.2%. The historical average is 15.2%.
Based on historical data, Legacy Housing Corporation is trading at a P/E of 14.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Legacy Housing Corporation has 47.4% gross margin and 29.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Legacy Housing Corporation's Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.