The company maintains a conservative financial profile with a debt-to-equity ratio of 0.39 as of 2026Q1, providing a buffer against cyclical earnings volatility.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Total Current Assets | 7.06B | 7.14B | 7.52B | 7.02B | 6.9B | 7.27B | 6.41B | 4.66B | 4.68B | 3.89B | 3.74B | 3.66B | 3.12B | 2.44B | 2.31B | 1.6B |
| Cash & Short-Term Investments | 652.93M | 851.23M | 487.15M | 798.57M | 724.49M | 832.82M | 532.84M | 326.44M | 329.64M | 573.92M | 300.18M | 126.19M | 234.22M | 193.52M | 300.6M | 279.32M |
| Cash Only | 652.93M | 851.23M | 487.15M | 798.57M | 724.49M | 832.82M | 532.84M | 326.44M | 329.64M | 573.92M | 300.18M | 126.19M | 234.22M | 193.52M | 300.6M | 279.32M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 269.83M | 241.68M | 217.7M | 184.52M | 191.5M | 150.86M | 96.24M | 70.45M | 86.59M | 94.49M | 115.25M | 120.73M | 85.27M | 95.72M | 205.17M | 231.88M |
| Days Sales Outstanding | 12.21 | 10.86 | 9.73 | 9.08 | 8.5 | 7.34 | 5.73 | 5.4 | 7.48 | 8.88 | 11.85 | 14.8 | 11.49 | 18.23 | 71.92 | 61.77 |
| Inventory | 6.14B | 6.05B | 6.23B | 5.55B | 5.37B | 5.5B | 5.33B | 3.99B | 3.98B | 2.96B | 3.02B | 3.13B | 2.52B | 2.01B | 1.6B | 1B |
| Days Inventory Outstanding | 393.4 | 353.04 | 369.73 | 359.97 | 320.97 | 337.66 | 384.27 | 373.59 | 422.32 | 343.29 | 383.76 | 473.77 | 429.09 | 489.66 | 701.62 | 335.89 |
| Other Current Assets | 0 | -1.19M | 537.34M | 451.49M | 568.03M | 745.92M | 394.82M | 230.49M | 212.42M | 207.51M | 248.87M | 216.88M | 205.96M | 116.62M | 136.58M | 51.38M |
| Total Non-Current Assets | 1.07B | 1.06B | 1.78B | 1.65B | 1.57B | 1.46B | 1.33B | 583.09M | 585.31M | 437.29M | 480.04M | 465.38M | 1.01B | 1B | 426.5M | 67.17M |
| Property, Plant & Equipment | 331.85M | 319.81M | 600.43M | 573.54M | 556.2M | 470.58M | 296.77M | 162.34M | 144.66M | 56.88M | 43.82M | 41.5M | 39.88M | 42.51M | 35.15M | 19.8M |
| Fixed Asset Turnover | 18.09x | 25.39x | 13.60x | 12.93x | 14.79x | 15.94x | 20.65x | 29.33x | 29.22x | 68.31x | 81.02x | 71.73x | 67.91x | 45.07x | 29.62x | 69.20x |
| Goodwill | 663.2M | 663.2M | 663.2M | 663.2M | 663.2M | 663.2M | 663.2M | 149.43M | 152.12M | 66.2M | 66.2M | 57.7M | 23.38M | 23.38M | 23.38M | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 637K | 1.07M | 2.13M | 3.19M | 4.25M | 5.46M | 9.32M | 18.76M | 9.73M |
| Long-Term Investments | 1.93B | 486.98M | 439.72M | 346.19M | 282.9M | 171.41M | 127.95M | 128.76M | 140.54M | 192.36M | 157.91M | 128.45M | 110.29M | 21.43M | 74.47M | 37.64M |
| Other Non-Current Assets | -483.01M | -486.98M | 0 | 0 | 0 | 2.11M | 5.29M | 2.1M | 1.84M | 1.58M | 2.29M | 0 | 576.45M | 663.12M | 0 | 0 |
| Total Assets | 9.77B | 9.84B | 9.3B | 8.67B | 8.47B | 8.73B | 7.74B | 5.25B | 5.26B | 4.33B | 4.22B | 4.12B | 4.13B | 3.44B | 2.74B | 1.67B |
| Asset Turnover | 0.79x | 0.83x | 0.88x | 0.86x | 0.97x | 0.86x | 0.79x | 0.91x | 0.80x | 0.90x | 0.84x | 0.72x | 0.66x | 0.56x | 0.38x | 0.82x |
| Asset Growth % | 17.33% | 5.82% | 7.21% | 2.38% | -2.95% | 12.79% | 47.51% | -0.36% | 21.7% | 2.49% | 2.39% | -0.26% | 20.2% | 25.58% | 63.85% | - |
| Total Current Liabilities | 263.69M | 1.14B | 755.3M | 805.1M | 898.14M | 987.68M | 737.2M | 445.36M | 615.96M | 355.4M | 353.59M | 497.65M | 387.51M | 282.24M | 468.3M | 366.08M |
| Accounts Payable | 255.35M | 251.64M | 270.27M | 263.48M | 269.76M | 253.35M | 215.05M | 164.58M | 151.59M | 140.16M | 136.64M | 151.86M | 122.47M | 101.73M | 98.65M | 64.84M |
| Days Payables Outstanding | 17.06 | 14.69 | 16.03 | 17.1 | 16.12 | 15.56 | 15.5 | 15.42 | 16.08 | 16.26 | 17.38 | 23.01 | 20.87 | 24.75 | 43.14 | 21.7 |
| Short-Term Debt | 0 | 82.61M | 0 | 0 | 0 | 31.53M | 0 | 0 | 200M | 0 | 0 | 115M | 40M | 0 | 50M | 0 |
| Deferred Revenue (Current) | 288.46M | 0 | 239.15M | 326.09M | 412.09M | 485.7M | 311.26M | 167.33M | 165.43M | 132.53M | 111.57M | 92.32M | 70.47M | 62.03M | 82.04M | 60.19M |
| Other Current Liabilities | -58.47M | 800.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.03M |
| Current Ratio | 26.78x | 6.24x | 9.95x | 8.72x | 7.68x | 7.36x | 8.69x | 10.47x | 7.60x | 10.94x | 10.58x | 7.35x | 8.05x | 8.63x | 4.94x | 4.38x |
| Quick Ratio | 3.50x | 0.95x | 1.70x | 1.83x | 1.70x | 1.79x | 1.46x | 1.52x | 1.13x | 2.62x | 2.05x | 1.07x | 1.55x | 1.50x | 1.51x | 1.64x |
| Cash Conversion Cycle | 388.54 | 349.21 | 363.43 | 351.94 | 313.35 | 329.45 | 374.5 | 363.57 | 413.71 | 335.91 | 378.23 | 465.57 | 419.71 | 483.14 | 730.4 | 375.95 |
| Total Non-Current Liabilities | 3.26B | 2.39B | 2.66B | 2.53B | 2.93B | 3.77B | 3.41B | 2.25B | 2.23B | 1.62B | 1.71B | 1.65B | 1.97B | 1.61B | 1.07B | 676.43M |
| Long-Term Debt | 2.34B | 2.21B | 2.12B | 2.02B | 2.48B | 3.27B | 2.93B | 1.94B | 2.01B | 1.5B | 1.59B | 1.55B | 1.7B | 1.26B | 977.87M | 599.75M |
| Capital Lease Obligations | 291.8M | 71.53M | 79M | 85M | 100.17M | 96.17M | 83.24M | 42.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 100.53M | 94.19M | 464.17M | 432.6M | 341.69M | 402.35M | 395.41M | 271.52M | 220.15M | 125.89M | 120.6M | 98.69M | 271.33M | 353.68M | 87.31M | 76.68M |
| Total Liabilities | 3.52B | 3.53B | 3.42B | 3.34B | 3.82B | 4.76B | 4.14B | 2.7B | 2.85B | 1.98B | 2.06B | 2.15B | 2.36B | 1.89B | 1.53B | 1.04B |
| Total Debt | 2.41B | 2.36B | 2.2B | 2.1B | 2.58B | 3.4B | 3.01B | 1.98B | 2.21B | 1.5B | 1.59B | 1.68B | 1.74B | 1.42B | 1.03B | 599.75M |
| Net Debt | 1.76B | 1.51B | 1.71B | 1.3B | 1.86B | 2.57B | 2.48B | 1.66B | 1.88B | 924.14M | 1.29B | 1.56B | 1.5B | 1.22B | 727.27M | 320.43M |
| Debt / Equity | 0.39x | 0.37x | 0.37x | 0.39x | 0.56x | 0.86x | 0.84x | 0.78x | 0.91x | 0.64x | 0.73x | 0.85x | 0.98x | 0.92x | 0.85x | 0.95x |
| Debt / EBITDA | 2.38x | 2.07x | 1.71x | 1.86x | 1.71x | 3.66x | 5.69x | 4.86x | 5.57x | 4.25x | 4.92x | 6.05x | 5.42x | 6.59x | 10.41x | 4.32x |
| Net Debt / EBITDA | 1.74x | 1.32x | 1.33x | 1.15x | 1.23x | 2.76x | 4.68x | 4.06x | 4.74x | 2.62x | 3.99x | 5.60x | 4.69x | 5.69x | 7.37x | 2.31x |
| Interest Coverage | 19.94x | 24.15x | 93.37x | - | 83.40x | 225.43x | - | - | - | - | - | - | 272.58x | 250.89x | - | - |
| Total Equity | 6.25B | 6.31B | 5.88B | 5.33B | 4.65B | 3.97B | 3.59B | 2.55B | 2.42B | 2.35B | 2.16B | 1.97B | 1.78B | 1.54B | 1.2B | 628.57M |
| Equity Growth % | 30.11% | 7.33% | 10.24% | 14.75% | 17.02% | 10.5% | 41.17% | 5.25% | 3.08% | 8.63% | 9.51% | 11% | 15.03% | 28.25% | 91.64% | - |
| Book Value per Share | 64.06 | 62.65 | 55.41 | 48.41 | 39.98 | 31.02 | 27.82 | 23.51 | 21.01 | 19.41 | 17.88 | 16.12 | 14.53 | 12.63 | 9.85 | 0.87 |
| Total Shareholders' Equity | 6.25B | 6.31B | 5.87B | 5.31B | 4.63B | 3.93B | 3.5B | 2.54B | 2.42B | 1.6B | 551.81M | 519.92M | 478.4M | 415.82M | 1.2B | 619.14M |
| Common Stock | 1K | 6.31B | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 0 | 0 |
| Retained Earnings | 0 | 0 | 4.39B | 3.51B | 2.74B | 1.69B | 1.03B | 782.35M | 527.7M | 319.83M | 228.61M | 176M | 114.95M | 43.48M | 1.23B | 649.21M |
| Treasury Stock | 0 | 0 | -1.62B | -1.27B | -1.14B | -760.86M | -446.86M | -343.52M | -186.09M | -47.62M | -43.52M | -14.98M | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 2.51M | 896K | 359K | 689K | -1.17M | 884K | 2M | -17.97M | -17.99M | 361.92M | -10.91M | -452K | -34.37M | -30.07M |
| Minority Interest | 0 | 0 | 11.64M | 17.34M | 16.53M | 45.13M | 89.21M | 8.01M | 3.54M | 750.43M | 1.61B | 1.45B | 1.3B | 1.13B | 7.89M | 9.42M |
Cyclical Land Capital Intensity
As reported in recent financial statements, Taylor Morrison has maintained a relatively stable asset base of $9.8 billion through 2026Q1, despite the broader revenue contraction, suggesting that management is prioritizing the preservation of its capital base over aggressive expansion during this period of cyclical uncertainty.
The consistency in total assets despite declining top-line performance indicates a deliberate effort to manage the balance sheet through a period of reduced demand. Investors should monitor whether this stability reflects a strategic pause in land acquisition or an inability to efficiently recycle capital into new projects.
According to the company's quarterly filings, TMHC maintains a debt-to-equity ratio of 0.39 as of 2026Q1, which remains well within the conservative range for the residential construction industry and provides a significant buffer against potential earnings volatility in the current high-interest rate environment.
This low leverage profile suggests that the company is not overly reliant on external financing to sustain its operations, which may provide a competitive advantage if credit markets tighten. However, the reliance on debt to fund ongoing land development warrants continued scrutiny to ensure that interest coverage remains robust.
Based on the provided balance sheet data, Taylor Morrison's asset mix remains heavily weighted toward inventory and land, with net PPE of $331.8 million as of 2026Q1, reflecting the capital-intensive nature of the homebuilding business model and its inherent exposure to land valuation risks.
The concentration of assets in land and inventory highlights the company's sensitivity to regional market pricing, as any sustained downturn could necessitate future impairment charges. The stability of these assets suggests that the company is currently avoiding aggressive write-downs, though this may change if absorption rates continue to decline.
As indicated by the reported current ratio of 26.78 in 2026Q1, Taylor Morrison appears to possess a substantial liquidity cushion, although this figure is heavily influenced by the accounting treatment of homebuilding inventory and may not represent immediate cash availability for operational needs.
While the headline current ratio is exceptionally high, the actual cash position of $652.9 million provides a more realistic view of the company's immediate liquidity. Investors should focus on the cash burn rate relative to this balance to determine the company's ability to navigate prolonged periods of negative free cash flow.
As noted in industry disclosures, the inclusion of capitalized interest within the cost of home sales may mask the true impact of debt service on profitability, potentially leading to an overstatement of gross margins during periods of high land development activity.
This accounting practice warrants further investigation, as it effectively shifts interest expenses from the income statement to the balance sheet, potentially smoothing earnings at the expense of transparency. Analysts should adjust for these capitalized costs to better understand the true economic cost of the company's debt-funded growth strategy.
Quick answers to the most common questions about buying TMHC stock.
As of 2025, Taylor Morrison Home Corporation (TMHC) had total assets of $9.84B including $7.14B in current assets.
Taylor Morrison Home Corporation (TMHC) carries total debt of $2.36B, offset by $851.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Taylor Morrison Home Corporation (TMHC) has total shareholders' equity (book value) of $6.31B ($62.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Taylor Morrison Home Corporation (TMHC) reported a current ratio of 6.24x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.