Financial leverage has increased significantly, with the debt-to-equity ratio rising to 2.57 in 2025Q4 from 1.41 in 2025Q1, alongside a deterioration of retained earnings into a $3.3M deficit.
| Total Current Assets | 257.48M | 228.34M | 274.86M | 199.66M | 196.56M | 130.25M |
| Cash & Short-Term Investments | 25.72M | 22.63M | 56.67M | 12.24M | 51.5M | 29.18M |
| Cash Only | 25.72M | 22.63M | 56.67M | 12.24M | 51.5M | 29.18M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 10.35M | 6.92M | 2.36M | 3.41M | 2.09M | 983.13K |
| Days Sales Outstanding | 9.29 | 5.45 | 2.04 | 2.61 | 1.76 | 1.1 |
| Inventory | 180.93M | 147.72M | 182.81M | 180.2M | 140.03M | 95.65M |
| Days Inventory Outstanding | 197.16 | 140.8 | 195.25 | 172.92 | 148.12 | 134.21 |
| Other Current Assets | 40.48M | 2.92M | 0 | 0 | 0 | 3.36M |
| Total Non-Current Assets | 19.15M | 37.04M | 23.79M | 8.69M | 5.7M | 1.36M |
| Property, Plant & Equipment | 3.93M | 3.54M | 6.49M | 2.39M | 1.59M | 1.23M |
| Fixed Asset Turnover | 103.43x | 131.07x | 64.99x | 199.85x | 272.20x | 267.06x |
| Goodwill | 8.13M | 9.28M | 5.71M | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 182K | 691.45K | 1.43M | 186.09K | 0 | 0 |
| Other Non-Current Assets | 6.9M | 8.28M | 7.76M | 6.11M | 4.11M | 130.74K |
| Total Assets | 276.63M | 265.38M | 298.65M | 208.34M | 202.26M | 131.6M |
| Asset Turnover | 1.47x | 1.75x | 1.41x | 2.29x | 2.14x | 2.49x |
| Asset Growth % | 4.24% | -11.14% | 43.34% | 3.01% | 53.69% | - |
| Total Current Liabilities | 122.7M | 82.66M | 125.36M | 148.34M | 135.7M | 22.54M |
| Accounts Payable | 22.97M | 17.8M | 38.68M | 22.08M | 28.74M | 18.8M |
| Days Payables Outstanding | 25.03 | 16.97 | 41.31 | 21.18 | 30.4 | 26.39 |
| Short-Term Debt | 80.13M | 50.2M | 77.2M | 120.8M | 102.5M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 19.6M | 0 | 0 | 0 | 0 | 963.2K |
| Current Ratio | 2.10x | 2.76x | 2.19x | 1.35x | 1.45x | 5.78x |
| Quick Ratio | 0.62x | 0.98x | 0.73x | 0.13x | 0.42x | 1.53x |
| Cash Conversion Cycle | 181.42 | 129.28 | 155.98 | 154.35 | 119.48 | 108.92 |
| Total Non-Current Liabilities | 96.56M | 115.85M | 204.47M | 1M | 0 | 74.89M |
| Long-Term Debt | 67.45M | 67.15M | 71.29M | 0 | 0 | 74.82M |
| Capital Lease Obligations | 0 | 2.96M | 5.57M | 1M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 29.11M | 45.74M | 127.61M | 0 | 0 | 74.31K |
| Total Liabilities | 219.26M | 198.51M | 329.83M | 149.34M | 135.7M | 97.43M |
| Total Debt | 147.58M | 120.3M | 154.06M | 121.8M | 102.5M | 74.82M |
| Net Debt | 121.86M | 97.68M | 97.38M | 109.56M | 51M | 45.64M |
| Debt / Equity | 2.57x | 1.80x | - | 2.06x | 1.54x | 2.19x |
| Debt / EBITDA | 61.72x | 21.05x | 9.65x | 1.75x | 1.64x | 2.00x |
| Net Debt / EBITDA | 50.97x | 17.09x | 6.10x | 1.58x | 0.82x | 1.22x |
| Interest Coverage | - | - | - | 17722.57x | 138.41x | - |
| Total Equity | 57.37M | 66.87M | -31.18M | 59M | 66.56M | 34.17M |
| Equity Growth % | -14.2% | 314.44% | -152.85% | -11.35% | 94.79% | - |
| Book Value per Share | 0.98 | 1.06 | -0.56 | 1.53 | 1.77 | 0.91 |
| Total Shareholders' Equity | 57.37M | 66.87M | -31.18M | 59M | 66.56M | 34.17M |
| Common Stock | 6K | 5.86K | 4.83K | 3.73K | 83.59M | 54.7M |
| Retained Earnings | -3.33M | 12.92M | -33.98M | 57.58M | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | -20.53M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
High leverage and volatility
According to quarterly filings, UHG's equity base has experienced significant erosion, dropping from $87.1M in 2025Q1 to $57.4M by 2025Q4, which signals a weakening financial position driven by persistent net losses and the inability to consistently retain earnings within the corporate structure.
The contraction in equity suggests that the company is struggling to build a permanent capital base, leaving it increasingly reliant on debt to fund operations. Investors should monitor whether this downward trend in net assets continues, as it may limit the firm's ability to absorb future market downturns.
As reported in financial statements, UHG's debt-to-equity ratio has climbed to 2.57 in 2025Q4, a marked increase from the 1.41 level observed in 2025Q1, suggesting that the company is increasingly utilizing debt financing to sustain its capital-intensive residential construction activities during a period of revenue contraction.
This rising leverage profile warrants caution, particularly given the company's negative operating margins which complicate debt serviceability. The reliance on debt appears to be a necessity-driven response to shrinking equity rather than a strategic choice to optimize the capital structure.
Based on the most recent 2025Q4 data, UHG maintains a current ratio of 2.10, which, while appearing adequate on the surface, masks a cash position of only $25.7M that has failed to recover to the $81.2M peak seen in 2023Q3.
The decline in cash reserves relative to total liabilities suggests that the company's liquidity buffer is thinning, leaving little room for error in a cyclical industry. The current ratio may be inflated by inventory that is not easily liquidated, potentially overstating the firm's actual ability to meet short-term obligations.
As indicated by the company's balance sheet, retained earnings have deteriorated into a deficit of $3.3M as of 2025Q4, a sharp reversal from the $31.1M surplus reported in 2025Q1, which highlights the impact of sustained net losses on the firm's long-term shareholder value.
This negative trend in retained earnings suggests that the business model is currently failing to generate sufficient returns to grow the equity base organically. The shift from positive to negative retained earnings is a critical indicator that the company's capital allocation strategy is currently value-destructive.
Quick answers to the most common questions about buying UHG stock.
As of 2025, United Homes Group, Inc. (UHG) had total assets of $276.6M including $257.5M in current assets.
United Homes Group, Inc. (UHG) carries total debt of $147.6M, offset by $25.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
United Homes Group, Inc. (UHG) has total shareholders' equity (book value) of $57.4M ($0.98 book value per share). Book value represents the net worth of the company belonging to common stock holders.
United Homes Group, Inc. (UHG) reported a current ratio of 2.10x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.