Latest Ratios: P/E Ratio 12.6x · EV/EBITDA 2.0x · ROE 2.5%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $122M | $155M | $227M | — | — | — |
| Enterprise Value | $153M | $186M | $217M | — | — | — |
| P/E Ratio → | 12.59 | 14.46 | 14.17 | — | — | — |
| P/S Ratio | 0.13 | 0.16 | 0.23 | — | — | — |
| P/B Ratio | 0.30 | 0.35 | 0.56 | — | — | — |
| P/FCF | — | — | 14.88 | — | — | — |
| P/OCF | — | — | 11.86 | — | — | — |
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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.19 | 0.22 | — | — | — |
| EV / EBITDA | 2.05 | 2.48 | 1.79 | — | — | — |
| EV / EBIT | 2.12 | 2.57 | 1.81 | — | — | — |
| EV / FCF | — | — | 14.20 | — | — | — |
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 |
|---|---|---|---|---|---|---|
| Gross Margin | 21.8% | 21.8% | 26.2% | 28.3% | 29.5% | 23.7% |
| Operating Margin | 7.5% | 7.5% | 12.2% | 16.2% | 18.5% | 11.3% |
| Net Profit Margin | 1.1% | 1.1% | 1.6% | 16.1% | 18.6% | 12.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 2.5% | 2.5% | 5.3% | 66.0% | 108.0% | 65.5% |
| ROA | 2.1% | 2.1% | 3.9% | 42.8% | 66.2% | 31.1% |
| ROIC | 12.5% | 12.5% | 27.1% | 44.1% | 70.4% | — |
| ROCE | 14.7% | 14.7% | 31.8% | 48.8% | 94.0% | 53.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 0.03 | 0.38 | 0.11 | 0.78 |
| Debt / EBITDA | 0.59 | 0.59 | 0.10 | 0.63 | 0.13 | 1.24 |
| Net Debt / Equity | — | 0.07 | -0.03 | 0.28 | -0.07 | 0.51 |
| Net Debt / EBITDA | 0.42 | 0.42 | -0.09 | 0.47 | -0.08 | 0.82 |
| Debt / FCF | — | — | -0.67 | 0.79 | -0.09 | 1.63 |
| Interest Coverage | 22.66 | 22.66 | 47.96 | 75.29 | 141.87 | 37.08 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 160.67 | 160.67 | 8.75 | 9.72 | 4.67 | 1.86 |
| Quick Ratio | 6.57 | 6.57 | 2.98 | 2.91 | 0.80 | 0.33 |
| Cash Ratio | 6.57 | 6.57 | 0.47 | 0.63 | 0.80 | 0.28 |
| Asset Turnover | — | 1.74 | 2.05 | 2.17 | 3.38 | 2.58 |
| Inventory Turnover | 2.54 | 2.54 | 2.59 | 2.57 | 3.75 | 2.85 |
| Days Sales Outstanding | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | 21.1% | 18.4% | 17.6% | — | — | — |
| Payout Ratio | 265.6% | 265.6% | 248.6% | 64.0% | 50.9% | 65.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | 7.9% | 6.9% | 7.1% | — | — | — |
| FCF Yield | — | — | 6.7% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 1.1% | — | — | — |
| Total Shareholder Yield | 21.1% | 18.4% | 18.8% | — | — | — |
| Shares Outstanding | — | $9M | $9M | $51M | $44M | $44M |
High interest rate sensitivity
According to recent market data, SDHC's P/FFO multiple has expanded to 48.15x in 2026Q1, a significant departure from the 4.07x observed in 2023Q4, suggesting that investors are struggling to reconcile the company's current earnings contraction with its historical valuation profile as a high-growth homebuilder.
The sharp increase in the P/FFO multiple appears driven more by the collapse in FFO per share rather than investor enthusiasm for future growth. This valuation disconnect warrants caution, as the current multiple implies a premium that the underlying earnings trajectory currently fails to justify.
Based on reported financial figures, the NOI margin has steadily declined from 26.7% in 2024Q2 to 19.6% in 2026Q1, indicating that the company's asset-light model is facing mounting pressure from rising input costs and a less favorable pricing environment for entry-level homes.
The consistent compression in NOI margins suggests that the competitive advantage of the land-option strategy may be diminishing as third-party developers pass on higher costs. Investors should monitor whether this margin degradation is a structural shift or a temporary consequence of the current housing market cycle.
As reported in quarterly filings, the FFO payout ratio has exhibited extreme instability, reaching 155.5% in 2025Q3, which suggests that the current dividend policy is not supported by recurring cash flow and may require a significant reduction to preserve the company's liquidity position.
The erratic nature of the payout ratio highlights a lack of dividend visibility, which is problematic for income-oriented investors. The reliance on volatile FFO to fund distributions appears to be an unsustainable practice that risks eroding the company's capital base over the long term.
Based on the company's reported figures, the debt-to-equity ratio has increased from 0.03 in 2024Q4 to 0.16 in 2026Q1, signaling a shift toward higher financial leverage as the firm attempts to navigate a more capital-intensive operating environment for its land-light homebuilding business.
While the current debt-to-equity ratio remains relatively low compared to broader industry peers, the upward trend is concerning given the simultaneous decline in interest coverage ratios. This suggests that the company's balance sheet, while still healthy, is becoming increasingly sensitive to interest rate fluctuations.
As noted in industry research, the P/E ratio is frequently misapplied to SDHC, as it fails to account for the significant non-cash depreciation and amortization inherent in homebuilding, which obscures the true cash-generating capacity of the company's land-option-heavy business model.
Investors should prioritize FFO or AFFO over GAAP P/E to better understand the company's operational performance. Relying on P/E likely leads to an inaccurate assessment of valuation, as it ignores the capital-intensive nature of the land pipeline and the timing sensitivity of revenue recognition.
Includes 30+ ratios · 5 years · Updated daily
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Quick answers to the most common questions about buying SDHC stock.
Smith Douglas Homes Corp.'s current P/E ratio is 12.6x. The historical average is 14.3x.
Smith Douglas Homes Corp.'s current EV/EBITDA is 2.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.1x.
Smith Douglas Homes Corp.'s return on equity (ROE) is 2.5%. The historical average is 49.5%.
Based on historical data, Smith Douglas Homes Corp. is trading at a P/E of 12.6x. Compare with industry peers and growth rates for a complete picture.
Smith Douglas Homes Corp.'s current dividend yield is 21.11% with a payout ratio of 265.6%.
Smith Douglas Homes Corp. has 21.8% gross margin and 7.5% operating margin.
Smith Douglas Homes Corp.'s Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.