Financial flexibility is supported by a pristine balance sheet, evidenced by the reduction of total debt to a negligible $2.1 million by 2026Q1.
| Total Current Assets | 174.29M | 164.66M | 124.31M | 107.88M | 107.08M | 92.54M | 54.63M | 52.97M | 63.14M | 59.44M | 45.95M |
| Cash & Short-Term Investments | 14.11M | 8.48M | 1.15M | 748K | 11.23M | 1.04M | 768K | 1.72M | 2.6M | 428K | 1.01M |
| Cash Only | 14.11M | 8.48M | 1.15M | 748K | 2.82M | 1.04M | 768K | 1.72M | 2.6M | 428K | 1.01M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 8.41M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 108.37M | 111.73M | 81.11M | 69.05M | 59.71M | 45.81M | 8.88M | 19.16M | 15.57M | 17.65M | 13.67M |
| Days Sales Outstanding | 230.75 | 247.8 | 160.74 | 133.24 | 84.8 | 84.66 | 18.35 | 41.39 | 35.12 | 50.05 | 45.13 |
| Inventory | 50.38M | 39.85M | 37.54M | 33.18M | 32.08M | 41.23M | 27.22M | 27.23M | 42.03M | 39.56M | 29.33M |
| Days Inventory Outstanding | 185.52 | 168.06 | 152.12 | 121.47 | 77.99 | 131.95 | 90.56 | 94.74 | 143.07 | 175.03 | 138.45 |
| Other Current Assets | 1.43M | 4.6M | 4.5M | 4.92M | 4.06M | 4.46M | 14.52M | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 417.18M | 415.68M | 409.89M | 398.86M | 330.73M | 275.51M | 283.98M | 230.65M | 171.89M | 148.89M | 134.03M |
| Property, Plant & Equipment | 61.79M | 61.81M | 53.46M | 47.27M | 41.59M | 36.94M | 29.83M | 23.11M | 17.13M | 11.83M | 11.21M |
| Fixed Asset Turnover | 2.70x | 2.66x | 3.45x | 4.00x | 6.18x | 5.35x | 5.92x | 7.31x | 9.45x | 10.89x | 9.86x |
| Goodwill | 2.47M | 2.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 4.96M | 5.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.01B | 328.05M | 350.94M | 341.22M | 279.67M | 233.42M | 0 | 193.47M | 144.78M | 127.48M | 112.54M |
| Other Non-Current Assets | 18.61M | 17.16M | 5.49M | 10.36M | 8.47M | 3.77M | 254.15M | 205.78M | 152.92M | 9.58M | 10.29M |
| Total Assets | 591.47M | 580.34M | 534.19M | 506.74M | 437.81M | 368.05M | 338.62M | 283.62M | 235.04M | 208.34M | 179.98M |
| Asset Turnover | 0.29x | 0.28x | 0.34x | 0.37x | 0.59x | 0.54x | 0.52x | 0.60x | 0.69x | 0.62x | 0.61x |
| Asset Growth % | 31.44% | 8.64% | 5.42% | 15.74% | 18.95% | 8.69% | 19.39% | 20.67% | 12.82% | 15.75% | - |
| Total Current Liabilities | 48.53M | 46.86M | 32.74M | 37.33M | 41.46M | 41.94M | 36.41M | 51.93M | 20.39M | 23.79M | 14.35M |
| Accounts Payable | 4.34M | 6.44M | 5.09M | 4.09M | 4.55M | 4.16M | 10.2M | 5.17M | 2.83M | 6.28M | 4.38M |
| Days Payables Outstanding | 19.65 | 27.17 | 20.63 | 14.97 | 11.06 | 13.3 | 33.92 | 17.98 | 9.63 | 27.78 | 20.69 |
| Short-Term Debt | 469K | 479K | 0 | 0 | 650K | 0 | 0 | 28.86M | 228K | 5.28M | 1.73M |
| Deferred Revenue (Current) | 15.2M | 1.76M | 1.88M | 4.15M | 0 | 0 | 0 | 1.57M | 2.22M | 2.9M | 1.03M |
| Other Current Liabilities | 25.79M | 27.23M | 13.9M | 23.97M | 28.56M | 28.66M | 20.45M | 7.86M | 6.52M | 4.86M | 3.6M |
| Current Ratio | 3.59x | 3.51x | 3.80x | 2.89x | 2.58x | 2.21x | 1.50x | 1.02x | 3.10x | 2.50x | 3.20x |
| Quick Ratio | 2.55x | 2.66x | 2.65x | 2.00x | 1.81x | 1.22x | 0.75x | 0.50x | 1.04x | 0.84x | 1.16x |
| Cash Conversion Cycle | 396.62 | 388.7 | 292.23 | 239.73 | 151.73 | 203.32 | 74.99 | 118.14 | 168.56 | 197.29 | 162.89 |
| Total Non-Current Liabilities | 3.95M | 4.87M | 7.5M | 32.67M | 14.24M | 16.71M | 43.02M | 9.3M | 25.37M | 60.28M | 50.04M |
| Long-Term Debt | 899K | 2.06M | 0 | 23.68M | 2.54M | 7.99M | 36.17M | 2M | 17.42M | 53.5M | 43.75M |
| Capital Lease Obligations | 2.9M | 0 | 920K | 1.4M | 2.12M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 4.41M | 0 | 2.21M | 2.34M | 4.06M | 4.38M | 0 | 1.77M | 1.84M | 0 | 0 |
| Other Non-Current Liabilities | 2.3M | 2.81M | 4.37M | 5.26M | 5.52M | 4.34M | 6.84M | 5.53M | 6.12M | 6.77M | 6.29M |
| Total Liabilities | 52.48M | 51.72M | 40.24M | 70.01M | 55.71M | 58.65M | 79.42M | 61.23M | 45.76M | 84.06M | 64.39M |
| Total Debt | 2.12M | 2.54M | 1.4M | 25.57M | 5.32M | 7.99M | 36.17M | 30.86M | 17.64M | 58.78M | 45.48M |
| Net Debt | -11.99M | -5.94M | 247K | 24.82M | 2.5M | 6.95M | 35.41M | 29.14M | 15.04M | 58.35M | 44.47M |
| Debt / Equity | 0.00x | 0.00x | 0.00x | 0.06x | 0.01x | 0.03x | 0.14x | 0.14x | 0.09x | 0.47x | 0.39x |
| Debt / EBITDA | 0.04x | 0.05x | 0.02x | 0.39x | 0.07x | 0.13x | 0.74x | 0.79x | 0.52x | 2.04x | 2.39x |
| Net Debt / EBITDA | -0.23x | -0.12x | 0.00x | 0.37x | 0.03x | 0.11x | 0.73x | 0.75x | 0.45x | 2.03x | 2.34x |
| Interest Coverage | 2563.75x | 1842.64x | 111.36x | 74.91x | 220.06x | 69.35x | 47.36x | 54.55x | 13.22x | 13.95x | 15.07x |
| Total Equity | 538.99M | 528.61M | 493.96M | 436.74M | 382.1M | 309.39M | 259.19M | 222.39M | 189.28M | 124.27M | 115.59M |
| Equity Growth % | 33.55% | 7.02% | 13.1% | 14.3% | 23.5% | 19.37% | 16.55% | 17.49% | 52.31% | 7.51% | - |
| Book Value per Share | 22.61 | 22.04 | 19.91 | 17.42 | 15.44 | 12.74 | 10.69 | 9.10 | 9.37 | 5.18 | 5.78 |
| Total Shareholders' Equity | 538.99M | 528.61M | 493.96M | 436.74M | 382.1M | 309.39M | 259.19M | 222.39M | 189.28M | 124.27M | 115.59M |
| Common Stock | 32K | 32K | 31K | 30K | 30K | 25K | 25K | 25K | 24K | 124.27M | 115.59M |
| Retained Earnings | 374.14M | 363.21M | 321.4M | 259.76M | 206M | 138.22M | 88.35M | 50.36M | 21.51M | 0 | -29.98M |
| Treasury Stock | -18.06M | -17.48M | -9.88M | -4.48M | -4.48M | -4.48M | -4.48M | -3.06M | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.21M | -4.38M | -3.79M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Captive Loan Portfolio Concentration
As reported in recent financial filings, Legacy Housing has steadily grown its total assets from $506.7 million in 2023Q4 to $591.5 million in 2026Q1, a trend primarily driven by the consistent accumulation of retained earnings rather than external debt financing or equity dilution.
The consistent growth in the asset base suggests that the company is successfully reinvesting its high-margin interest income back into its captive lending ecosystem. This trajectory indicates a self-funding business model that appears to prioritize long-term balance sheet stability over aggressive, debt-fueled expansion.
Based on quarterly balance sheet data, Legacy Housing has effectively eliminated its reliance on external leverage, reducing total debt from $25.6 million in 2023Q4 to a negligible $2.1 million by 2026Q1, resulting in a debt-to-equity ratio that has remained at 0.00 for several consecutive quarters.
This near-zero leverage position suggests that the company is uniquely insulated from interest rate volatility that typically plagues residential construction peers. Investors should monitor whether this lack of debt reflects a deliberate risk-aversion strategy or a missed opportunity to optimize the capital structure for higher returns.
According to the latest balance sheet disclosures, Legacy Housing maintains a strong liquidity profile with a current ratio of 3.59 as of 2026Q1, providing a significant buffer that appears sufficient to navigate the inherent volatility of the manufactured housing and consumer credit markets.
The company's ability to maintain a current ratio consistently above 3.0 suggests that its working capital management is highly conservative. This liquidity cushion appears to be a strategic necessity, given the company's role as a lender to its own dealer network, which requires immediate access to capital.
While the headline balance sheet appears pristine, the lack of detailed disclosure regarding the aging and credit quality of the underlying loan portfolio, which constitutes a significant portion of assets, warrants further investigation into potential non-cash impairment risks that could impact future equity value.
The absence of significant goodwill or intangible assets on the balance sheet is a positive indicator of asset quality, yet the concentration of assets in internal loans creates a non-obvious risk. If the credit quality of the dealer or consumer base deteriorates, the reported equity may be overstated due to insufficient provisions for loan losses.
Quick answers to the most common questions about buying LEGH stock.
As of 2025, Legacy Housing Corporation (LEGH) had total assets of $580.3M including $164.7M in current assets.
Legacy Housing Corporation (LEGH) carries total debt of $2.5M, offset by $8.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Legacy Housing Corporation (LEGH) has total shareholders' equity (book value) of $528.6M ($22.04 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Legacy Housing Corporation (LEGH) reported a current ratio of 3.51x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.