LGI Homes (LGIH) FY2020 results: revenue $2.4 billion, up 28.8% on the year
LGI Homes, Inc. (LGIH) reported revenue of $2.4 billion for fiscal 2020, the year ended 31 December 2020, up 28.8% on the year before. Net income was $324 million, up 81.3%, and diluted earnings per share $12.76. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$2.4 billion
+28.8% on the year
FY2013FY2020
Operating margin
15.4%
12.4% a year earlier
FY2013FY2020
Net income
$324 million
+81.3% on the year
FY2013FY2020
Diluted EPS
$12.76
+81.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,368
1,838
1,504
+28.8%
Cost of revenue
1,765
1,402
1,124
+25.9%
Gross profit
603
436
380
+38.2%
Gross margin
25.5%
23.7%
25.3%
Operating income
365
228
200
+60.3%
Operating margin
15.4%
12.4%
13.3%
Interest expense
0.0
0.0
0.0
Pre-tax income
368
232
199
+58.7%
Income tax
44.0
53.2
43.8
-17.4%
Effective tax rate
11.9%
23.0%
22.0%
Net income
324
179
155
+81.3%
Net margin
13.7%
9.7%
10.3%
Diluted EPS
$12.76
$7.02
$6.24
+81.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
202
-41.9
-117
Capital expenditure
2.7
0.7
0.5
+266.8%
Free cash flow
199
-42.7
-117
Free cash flow margin
8.4%
-2.3%
-7.8%
Cash from investing
-5.6
-1.8
-74.9
Cash from financing
-199
35.4
171
Depreciation and amortisation
0.7
0.6
0.7
+10.4%
Share-based compensation
13.5
7.5
5.9
+79.3%
Buybacks
48.1
0.0
1.5
Diluted shares, weighted
25m
25m
25m
-0.2%
Shares outstanding at period end
25m
25m
23m
-1.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,139
845
656
+34.8%
Debt
538
691
654
-22.0%
Other liabilities
149
130
85.8
+14.1%
Total liabilities and equity
1,826
1,666
1,395
+9.6%
Fixed assets
3.6
1.6
1.4
+121.7%
Goodwill
12.0
12.0
12.0
0.0%
Cash and equivalents
35.9
38.3
46.6
-6.3%
Other assets
1,775
1,614
1,335
+9.9%
Total assets
1,826
1,666
1,395
+9.6%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.