LGI Homes (LGIH) FY2019 results: revenue $1.8 billion, up 22.2% on the year
LGI Homes, Inc. (LGIH) reported revenue of $1.8 billion for fiscal 2019, the year ended 31 December 2019, up 22.2% on the year before. Net income was $179 million, up 15.0%, and diluted earnings per share $7.02. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$1.8 billion
+22.2% on the year
FY2012FY2019
Operating margin
12.4%
13.3% a year earlier
FY2012FY2019
Net income
$179 million
+15.0% on the year
FY2012FY2019
Diluted EPS
$7.02
+12.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,838
1,504
1,258
+22.2%
Cost of revenue
1,402
1,124
938
+24.7%
Gross profit
436
380
320
+14.9%
Gross margin
23.7%
25.3%
25.5%
Operating income
228
200
170
+13.7%
Operating margin
12.4%
13.3%
13.5%
Interest expense
0.0
0.0
0.0
Pre-tax income
232
199
171
+16.4%
Income tax
53.2
43.8
58.1
+21.5%
Effective tax rate
23.0%
22.0%
33.9%
Net income
179
155
113
+15.0%
Net margin
9.7%
10.3%
9.0%
Diluted EPS
$7.02
$6.24
$4.73
+12.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-41.9
-117
-68.5
Capital expenditure
0.7
0.5
0.5
+54.5%
Free cash flow
-42.7
-117
-69.0
Free cash flow margin
-2.3%
-7.8%
-5.5%
Cash from investing
-1.8
-74.9
-0.5
Cash from financing
35.4
171
87.0
-79.2%
Depreciation and amortisation
0.6
0.7
0.8
-9.6%
Share-based compensation
7.5
5.9
4.2
+27.0%
Buybacks
0.0
1.5
0.0
Diluted shares, weighted
25m
25m
24m
+2.2%
Shares outstanding at period end
25m
23m
22m
+11.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
845
656
490
+28.9%
Debt
691
654
475
+5.6%
Other liabilities
130
85.8
115
+51.9%
Total liabilities and equity
1,666
1,395
1,080
+19.4%
Fixed assets
1.6
1.4
1.7
+14.0%
Goodwill
12.0
12.0
12.0
0.0%
Cash and equivalents
38.3
46.6
67.6
-17.8%
Other assets
1,614
1,335
999
+20.9%
Total assets
1,666
1,395
1,080
+19.4%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.