Cavco Industries vs Hovnanian Enterprises
Hovnanian Enterprises is the larger business, with $2.98bn of revenue in fiscal 2025 against $2.24bn for Cavco Industries (1.3 times as much). Cavco Industries grew faster (11.4% against -0.9%). Cavco Industries kept more of each dollar of sales as profit: a net margin of 8.5% against 1.7%. Cavco Industries carries less debt relative to equity (0.7% against 111.3%).
| Latest fiscal year | Cavco IndustriesCVCO, 2026 | Hovnanian EnterprisesHOV, 2025 |
|---|---|---|
| Revenue | $2.24bn | $2.98bn |
| Revenue growth | 11.4% | -0.9% |
| Net income | $191m | $51.2m |
| Operating margin | 10.2% | — |
| Net margin | 8.5% | 1.7% |
| Return on equity | 17.6% | 6.3% |
| Free cash flow | $232m | $166m |
| Cash | $237m | — |
| Total debt | $7.4m | $925m |
| Debt to equity | 0.7% | 111.3% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $160m | $30.2m |
| Employees | — | 1,891 |
| Market value | $4.98bn | $647m |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 72 (Strong) | 36 (Weak) |
| Insider trades, 12 months | 5 buys, 9 sales | 0 buys, 2 sales |