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Side-by-side financial comparison of American Homes 4 Rent (AMH) and CAVCO INDUSTRIES, INC. (CVCO). Click either name above to swap in a different company.
CAVCO INDUSTRIES, INC. is the larger business by last-quarter revenue ($581.0M vs $455.0M, roughly 1.3× American Homes 4 Rent). American Homes 4 Rent runs the higher net margin — 31.7% vs 7.6%, a 24.1% gap on every dollar of revenue. On growth, CAVCO INDUSTRIES, INC. posted the faster year-over-year revenue change (11.3% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $57.6M). Over the past eight quarters, CAVCO INDUSTRIES, INC.'s revenue compounded faster (17.6% CAGR vs 3.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
Cavco Industries, Inc. is an American company that manufactures modular homes, Recreational vehicle (RVs), vacation cabins, and manufactured homes. The company operates through a network of manufacturing facilities and retail locations across the United States. Cavco is Headquartered in Phoenix, Arizona.
AMH vs CVCO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $581.0M |
| Net Profit | $144.3M | $44.1M |
| Gross Margin | — | 23.4% |
| Operating Margin | — | 9.4% |
| Net Margin | 31.7% | 7.6% |
| Revenue YoY | 4.2% | 11.3% |
| Net Profit YoY | 0.3% | -22.0% |
| EPS (diluted) | $0.33 | $5.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $455.0M | $581.0M | ||
| Q3 25 | $478.5M | $556.5M | ||
| Q2 25 | $457.5M | $556.9M | ||
| Q1 25 | $459.3M | $508.4M | ||
| Q4 24 | $436.6M | $522.0M | ||
| Q3 24 | $445.1M | $507.5M | ||
| Q2 24 | $423.5M | $477.6M | ||
| Q1 24 | $423.6M | $420.1M |
| Q4 25 | $144.3M | $44.1M | ||
| Q3 25 | $116.8M | $52.4M | ||
| Q2 25 | $123.6M | $51.6M | ||
| Q1 25 | $128.7M | $36.3M | ||
| Q4 24 | $143.9M | $56.5M | ||
| Q3 24 | $87.6M | $43.8M | ||
| Q2 24 | $108.5M | $34.4M | ||
| Q1 24 | $128.1M | $33.9M |
| Q4 25 | — | 23.4% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 21.7% | ||
| Q1 24 | — | 23.6% |
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 10.8% | ||
| Q1 25 | — | 7.6% | ||
| Q4 24 | — | 12.3% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 8.1% | ||
| Q1 24 | — | 8.9% |
| Q4 25 | 31.7% | 7.6% | ||
| Q3 25 | 24.4% | 9.4% | ||
| Q2 25 | 27.0% | 9.3% | ||
| Q1 25 | 28.0% | 7.1% | ||
| Q4 24 | 33.0% | 10.8% | ||
| Q3 24 | 19.7% | 8.6% | ||
| Q2 24 | 25.6% | 7.2% | ||
| Q1 24 | 30.2% | 8.1% |
| Q4 25 | $0.33 | $5.58 | ||
| Q3 25 | $0.27 | $6.55 | ||
| Q2 25 | $0.28 | $6.42 | ||
| Q1 25 | $0.30 | $4.42 | ||
| Q4 24 | $0.33 | $6.90 | ||
| Q3 24 | $0.20 | $5.28 | ||
| Q2 24 | $0.25 | $4.11 | ||
| Q1 24 | $0.30 | $4.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $241.9M |
| Total DebtLower is stronger | $5.1B | — |
| Stockholders' EquityBook value | $7.0B | $1.1B |
| Total Assets | $13.2B | $1.5B |
| Debt / EquityLower = less leverage | 0.72× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $241.9M | ||
| Q3 25 | $45.6M | $391.8M | ||
| Q2 25 | $323.3M | $362.4M | ||
| Q1 25 | $69.7M | $376.1M | ||
| Q4 24 | $199.4M | $378.9M | ||
| Q3 24 | $162.5M | $388.7M | ||
| Q2 24 | $718.4M | $380.0M | ||
| Q1 24 | $124.8M | $371.0M |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $7.0B | $1.1B | ||
| Q3 25 | $7.2B | $1.1B | ||
| Q2 25 | $7.2B | $1.1B | ||
| Q1 25 | $7.2B | $1.1B | ||
| Q4 24 | $7.2B | $1.1B | ||
| Q3 24 | $7.0B | $1.0B | ||
| Q2 24 | $7.0B | $1.0B | ||
| Q1 24 | $7.0B | $1.0B |
| Q4 25 | $13.2B | $1.5B | ||
| Q3 25 | $13.3B | $1.4B | ||
| Q2 25 | $13.6B | $1.4B | ||
| Q1 25 | $13.3B | $1.4B | ||
| Q4 24 | $13.4B | $1.4B | ||
| Q3 24 | $12.8B | $1.4B | ||
| Q2 24 | $13.3B | $1.4B | ||
| Q1 24 | $12.8B | $1.4B |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.64× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $864.3M | $66.1M |
| Free Cash FlowOCF − Capex | $823.7M | $57.6M |
| FCF MarginFCF / Revenue | 181.0% | 9.9% |
| Capex IntensityCapex / Revenue | 8.9% | 1.5% |
| Cash ConversionOCF / Net Profit | 5.99× | 1.50× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $205.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $66.1M | ||
| Q3 25 | $223.3M | $78.5M | ||
| Q2 25 | $271.9M | $55.5M | ||
| Q1 25 | $223.4M | $38.6M | ||
| Q4 24 | $811.5M | $37.8M | ||
| Q3 24 | $233.6M | $54.7M | ||
| Q2 24 | $274.0M | $47.4M | ||
| Q1 24 | $201.8M | — |
| Q4 25 | $823.7M | $57.6M | ||
| Q3 25 | $214.5M | $68.7M | ||
| Q2 25 | $257.7M | $46.4M | ||
| Q1 25 | $215.9M | $32.5M | ||
| Q4 24 | $777.5M | $32.3M | ||
| Q3 24 | $225.3M | $49.8M | ||
| Q2 24 | $263.3M | $42.4M | ||
| Q1 24 | $191.0M | — |
| Q4 25 | 181.0% | 9.9% | ||
| Q3 25 | 44.8% | 12.4% | ||
| Q2 25 | 56.3% | 8.3% | ||
| Q1 25 | 47.0% | 6.4% | ||
| Q4 24 | 178.1% | 6.2% | ||
| Q3 24 | 50.6% | 9.8% | ||
| Q2 24 | 62.2% | 8.9% | ||
| Q1 24 | 45.1% | — |
| Q4 25 | 8.9% | 1.5% | ||
| Q3 25 | 1.8% | 1.7% | ||
| Q2 25 | 3.1% | 1.6% | ||
| Q1 25 | 1.6% | 1.2% | ||
| Q4 24 | 7.8% | 1.0% | ||
| Q3 24 | 1.9% | 1.0% | ||
| Q2 24 | 2.5% | 1.0% | ||
| Q1 24 | 2.6% | — |
| Q4 25 | 5.99× | 1.50× | ||
| Q3 25 | 1.91× | 1.50× | ||
| Q2 25 | 2.20× | 1.08× | ||
| Q1 25 | 1.74× | 1.06× | ||
| Q4 24 | 5.64× | 0.67× | ||
| Q3 24 | 2.67× | 1.25× | ||
| Q2 24 | 2.52× | 1.38× | ||
| Q1 24 | 1.58× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
CVCO
| Manufactured Product Other | $532.5M | 92% |
| Other | $26.0M | 4% |
| Financial Service Other | $20.5M | 4% |
| Insurance Agency Commissions | $2.0M | 0% |
