Latest Ratios: P/E Ratio 16.9x · EV/EBITDA 13.8x · ROE 8.2%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $698M | $468M | $612M | $632M | $469M | $643M | $366M | $407M | $241M | — | — |
| Enterprise Value | $692M | $462M | $613M | $657M | $472M | $650M | $402M | $436M | $256M | — | — |
| P/E Ratio → | 16.87 | 11.22 | 9.95 | 11.62 | 6.92 | 12.91 | 9.62 | 14.10 | 11.15 | — | — |
| P/S Ratio | 4.24 | 2.84 | 3.32 | 3.34 | 1.83 | 3.25 | 2.07 | 2.41 | 1.49 | — | — |
| P/B Ratio | 1.33 | 0.89 | 1.24 | 1.45 | 1.23 | 2.08 | 1.41 | 1.83 | 1.27 | — | — |
| P/FCF | 24.79 | 16.63 | 22.86 | — | — | 11.82 | — | — | — | — | — |
| P/OCF | 18.79 | 12.60 | 17.01 | — | — | 10.66 | — | — | 85.44 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.81 | 3.33 | 3.47 | 1.83 | 3.29 | 2.27 | 2.58 | 1.58 | — | — |
| EV / EBITDA | 13.77 | 9.20 | 9.35 | 9.91 | 5.91 | 10.74 | 8.23 | 11.22 | 7.61 | — | — |
| EV / EBIT | 14.30 | 8.96 | 7.98 | 9.43 | 5.71 | 10.56 | 8.05 | 11.38 | 7.72 | — | — |
| EV / FCF | — | 16.42 | 22.87 | — | — | 11.95 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.4% | 47.4% | 51.1% | 47.3% | 41.6% | 42.3% | 37.9% | 37.9% | 33.8% | 35.9% | 30.0% |
| Operating Margin | 29.4% | 29.4% | 34.5% | 34.1% | 30.4% | 29.8% | 26.9% | 22.4% | 20.3% | 21.8% | 16.7% |
| Net Profit Margin | 25.4% | 25.4% | 33.5% | 28.8% | 26.4% | 25.3% | 21.5% | 17.1% | 13.3% | 20.5% | 15.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 8.2% | 13.2% | 13.3% | 19.6% | 17.5% | 15.8% | 14.0% | 13.7% | 22.0% | 15.0% |
| ROA | 7.5% | 7.5% | 11.8% | 11.5% | 16.8% | 14.1% | 12.2% | 11.1% | 9.7% | 13.6% | 9.6% |
| ROIC | 7.1% | 7.1% | 10.0% | 11.4% | 16.7% | 14.5% | 13.1% | 12.5% | 12.7% | 12.3% | 8.6% |
| ROCE | 9.4% | 9.4% | 13.1% | 14.9% | 21.6% | 18.8% | 17.8% | 17.0% | 16.4% | 16.0% | 11.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.06 | 0.01 | 0.03 | 0.14 | 0.14 | 0.09 | 0.47 | 0.39 |
| Debt / EBITDA | 0.05 | 0.05 | 0.02 | 0.39 | 0.07 | 0.13 | 0.74 | 0.79 | 0.52 | 2.04 | 2.39 |
| Net Debt / Equity | — | -0.01 | 0.00 | 0.06 | 0.01 | 0.02 | 0.14 | 0.13 | 0.08 | 0.47 | 0.38 |
| Net Debt / EBITDA | -0.12 | -0.12 | 0.00 | 0.37 | 0.03 | 0.11 | 0.73 | 0.75 | 0.45 | 2.03 | 2.34 |
| Debt / FCF | — | -0.21 | 0.01 | — | — | 0.13 | — | — | — | 17.88 | — |
| Interest Coverage | 1842.64 | 1842.64 | 111.36 | 74.91 | 220.06 | 69.35 | 47.36 | 54.55 | 13.22 | 13.95 | 15.07 |
Net cash position: cash ($8M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.51 | 3.51 | 3.80 | 2.89 | 2.58 | 2.21 | 1.50 | 1.02 | 3.10 | 2.50 | 3.20 |
| Quick Ratio | 2.66 | 2.66 | 2.65 | 2.00 | 1.81 | 1.22 | 0.75 | 0.50 | 1.04 | 0.84 | 1.16 |
| Cash Ratio | 0.18 | 0.18 | 0.04 | 0.02 | 0.27 | 0.02 | 0.02 | 0.03 | 0.13 | 0.02 | 0.07 |
| Asset Turnover | — | 0.28 | 0.34 | 0.37 | 0.59 | 0.54 | 0.52 | 0.60 | 0.69 | 0.62 | 0.61 |
| Inventory Turnover | 2.17 | 2.17 | 2.40 | 3.00 | 4.68 | 2.77 | 4.03 | 3.85 | 2.55 | 2.09 | 2.64 |
| Days Sales Outstanding | — | 247.80 | 160.74 | 133.24 | 84.80 | 84.66 | 18.35 | 41.39 | 35.12 | 50.05 | 45.13 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | 67.1% | 39.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 8.9% | 10.0% | 8.6% | 14.5% | 7.7% | 10.4% | 7.1% | 9.0% | — | — |
| FCF Yield | 4.0% | 6.0% | 4.4% | — | — | 8.5% | — | — | — | — | — |
| Buyback Yield | 1.1% | 1.6% | 0.9% | 0.0% | 0.0% | 0.0% | 0.4% | 0.8% | 0.0% | — | — |
| Total Shareholder Yield | 1.1% | 1.6% | 0.9% | 0.0% | 0.0% | 0.0% | 0.4% | 0.8% | 0.0% | — | — |
| Shares Outstanding | — | $24M | $25M | $25M | $25M | $24M | $24M | $24M | $20M | $24M | $20M |
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying LEGH stock.
Legacy Housing Corporation's current P/E ratio is 16.9x. The historical average is 10.9x. This places it at the 100th percentile of its historical range.
Legacy Housing Corporation's current EV/EBITDA is 13.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.0x.
Legacy Housing Corporation's return on equity (ROE) is 8.2%. The historical average is 15.2%.
Based on historical data, Legacy Housing Corporation is trading at a P/E of 16.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Legacy Housing Corporation has 47.4% gross margin and 29.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Legacy Housing Corporation's Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Credit risk in loan portfolio
Metrics are mathematically derived from official filings.
Blended Margins Mask Financing Strength
LEGH's 35.4% net margin in 2026Q2, per the latest quarterly report, far exceeds peers like SKY at 8.0%, driven by high-margin interest income from its captive loan book.
The reported gross margin of 49.5% in 2026Q2 blends manufacturing with financing income, which carries minimal direct costs. This structural advantage explains why LEGH's net margin is roughly four times that of SKY and CVCO, but it also means margin trends are sensitive to loan portfolio yields and credit provisions. Investors should monitor the provision for loan losses, as a spike would directly compress the outsized net margin.
Low Leverage Caps Return on Equity
ROE averaged only 2.8% over the last ten quarters, per financial statements, despite strong margins, because the zero-debt balance sheet and large loan book dilute returns on equity.
With a debt-to-equity ratio of 0.00, LEGH is not using leverage to amplify returns, resulting in ROE that is far below peers like CVCO at 16.5%. The ROIC of 3.7% in 2026Q2 is also modest, reflecting the capital-intensive nature of the financing business. While this conservative approach provides downside protection, it suggests the company may be under-earning on its equity base relative to its earning power.
Working Capital Cycle Stretched by Financing
The cash conversion cycle extended to 496 days in 2026Q2, per the latest data, driven by DSO of 382 days, reflecting the long-term nature of consumer loans on the balance sheet.
LEGH's DSO is exceptionally high because a significant portion of sales are financed through its own loan portfolio, turning receivables into long-term assets. This makes the CCC a less meaningful efficiency metric for LEGH compared to pure manufacturers, as the extended cycle is a structural feature of its hybrid model. The negative working capital changes in eight of ten quarters indicate that growth in loans and receivables consumes cash, which is a key reason operating cash flow lags net income.
Zero Debt Provides Fortress Flexibility
LEGH's debt-to-equity ratio is 0.00, with total debt of just $1.1M against $562.2M equity, as reported in the latest balance sheet, offering exceptional financial flexibility.
The absence of debt means interest coverage is effectively infinite, and the company is insulated from credit market disruptions. However, this conservative capital structure may indicate underutilization of the balance sheet, as the company could potentially borrow at attractive rates to expand its loan portfolio or community development pipeline. The $8.4M cash balance and zero leverage suggest management is prioritizing safety over growth, which may cap returns in a low-rate environment.
Liquidity Cushion Strengthens Amid Cash Build
The current ratio improved to 3.56 in 2026Q2, per the latest balance sheet, with cash surging to $29.0M from $1.1M a year earlier, providing ample short-term coverage.
The quick ratio of 2.69 indicates that even without inventory, LEGH can cover current liabilities nearly three times over. This liquidity buffer is particularly important given the credit risk embedded in the loan portfolio, as it provides a cushion against potential defaults. However, the high current ratio also reflects the illiquid nature of the loan assets, which may not be easily convertible to cash in a stress scenario.
P/E Misleads on Hybrid Business Model
LEGH's P/E of 16.86, per current valuation data, appears low versus peers, but it obscures the financing arm's earnings quality and the cyclicality of manufacturing revenue.
The market often treats LEGH as a homebuilder, but its loan book generates annuity-like interest income that is more stable than manufacturing sales. A more appropriate valuation approach would be sum-of-the-parts, valuing the financing arm on a price-to-book or yield basis and the manufacturing arm on an EV/EBITDA basis. The current P/E may understate the value of the financing business, but it also fails to capture the credit risk embedded in the loan portfolio, which warrants a discount.