Legacy Housing Corp key statistics and ratios

In fiscal 2025, Legacy Housing Corp had return on equity of 8.2%, an operating margin of 29.4%, debt equal to 0.2% of equity and a current ratio of 3.51. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Legacy Housing Corp: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	33.8%	37.9%	37.9%	42.3%	41.6%	47.3%	51.1%	48.5%	49.8%
Operating margin	20.3%	22.4%	26.9%	29.8%	30.4%	34.1%	34.5%	29.4%	32.8%
Net margin	13.3%	17.1%	21.5%	25.3%	26.4%	28.8%	33.5%	25.4%	28.6%
Free-cash-flow margin	−2.0%	−5.0%	−2.6%	27.5%	−2.1%	−11.2%	14.5%	17.1%	21.5%
Return on equity	11.4%	14.0%	15.8%	17.5%	19.6%	13.3%	13.2%	8.2%	9.4%
Return on assets	9.2%	11.1%	12.2%	14.1%	16.9%	11.5%	11.8%	7.5%	8.6%
Asset turnover	0.69	0.65	0.57	0.56	0.64	0.40	0.35	0.30	0.30
Current ratio	3.10	1.02	1.50	2.21	2.58	3.10	3.80	3.51	3.56
Debt to equity	7.3%	13.9%	14.0%	2.6%	0.7%	5.4%	0.4%	0.2%	0.2%
Interest cover (operating income ÷ interest)	13.1x	53.9x	45.2x	66.4x	—	69.4x	92.3x	—	—
Effective tax rate	29.8%	23.3%	22.2%	17.7%	17.5%	20.8%	18.9%	18.9%	15.3%
SG&A as % of revenue	13.0%	15.1%	10.8%	11.8%	10.7%	12.8%	12.1%	18.0%	16.4%
Capital spending as % of revenue	3.8%	2.5%	1.6%	3.0%	1.5%	4.1%	5.0%	5.5%	6.7%
Free cash flow ÷ net income	−15.4%	−29.1%	−12.3%	109.0%	−8.1%	−39.0%	43.4%	67.3%	75.3%
Dividends and buybacks ÷ free cash flow	—	—	—	—	—	—	20.2%	27.0%	4.6%

US$ thousands unless shown otherwise. Fiscal quarters.

Legacy Housing Corp: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	51.7%	50.8%	51.8%	48.3%	43.3%	51.0%	56.5%	49.5%
Operating margin	34.6%	28.6%	32.5%	33.5%	24.0%	26.9%	36.1%	39.9%
Net margin	35.7%	26.8%	28.8%	29.3%	21.4%	21.4%	31.8%	35.4%
Free-cash-flow margin	20.6%	11.1%	10.2%	7.4%	12.7%	41.0%	15.8%	18.6%
Current ratio	3.47	3.80	3.91	3.93	5.74	3.51	3.59	3.56
SG&A as % of revenue	13.7%	8.8%	17.9%	11.4%	18.1%	24.5%	17.0%	10.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 3 checks passed · June 30, 2026

What it owns · $616m

Short-term assets $181mLonger-term assets $434m

What it owes, and who funded it · $616m

Short-term liabilities $51mLonger-term liabilities $2mShareholders' equity $562m

Short-term assets cover short-term liabilities $181m of assets due within a year against $51m of liabilities due within a year.
Short-term assets cover long-term liabilities $181m short-term assets against $2m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $59m against $38,000 of interest.

From Legacy Housing Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

69 /100

Moderate moat

How hard Legacy Housing's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 16 / 20

Cash operating profit has been a median 12.1% of total assets over 7 years.
Pricing power 11 / 20

Gross margin has been a median 42.2%, moving by 5.5 percentage points (standard deviation) across 8 years.
Durability 20 / 20

Operating margin has been a median 30.8%; its worst year was 21.6%.
Cash conversion 5 / 20

Free cash flow was positive in 4 of 8 years, at a median -0.1% of revenue.
Discipline 18 / 20

The diluted share count fell 2.7% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: LEGH vs SDHC LEGH vs LGIH GRBK vs LEGH

More: Homebuilding stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Legacy Housing Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Legacy Housing Corp.