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Side-by-side financial comparison of CAVCO INDUSTRIES, INC. (CVCO) and Essex Property Trust (ESS). Click either name above to swap in a different company.
CAVCO INDUSTRIES, INC. is the larger business by last-quarter revenue ($581.0M vs $479.6M, roughly 1.2× Essex Property Trust). Essex Property Trust runs the higher net margin — 17.9% vs 7.6%, a 10.3% gap on every dollar of revenue. On growth, CAVCO INDUSTRIES, INC. posted the faster year-over-year revenue change (11.3% vs 5.5%). Over the past eight quarters, CAVCO INDUSTRIES, INC.'s revenue compounded faster (17.6% CAGR vs 6.0%).
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.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
CVCO vs ESS — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $581.0M | $479.6M |
| Net Profit | $44.1M | $85.7M |
| Gross Margin | 23.4% | 70.0% |
| Operating Margin | 9.4% | 31.7% |
| Net Margin | 7.6% | 17.9% |
| Revenue YoY | 11.3% | 5.5% |
| Net Profit YoY | -22.0% | -71.6% |
| EPS (diluted) | $5.58 | $1.24 |
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 | $581.0M | $479.6M | ||
| Q3 25 | $556.5M | $473.3M | ||
| Q2 25 | $556.9M | $469.8M | ||
| Q1 25 | $508.4M | $464.6M | ||
| Q4 24 | $522.0M | $454.5M | ||
| Q3 24 | $507.5M | $450.7M | ||
| Q2 24 | $477.6M | $442.4M | ||
| Q1 24 | $420.1M | $426.9M |
| Q4 25 | $44.1M | $85.7M | ||
| Q3 25 | $52.4M | $172.7M | ||
| Q2 25 | $51.6M | $231.5M | ||
| Q1 25 | $36.3M | $212.8M | ||
| Q4 24 | $56.5M | $301.7M | ||
| Q3 24 | $43.8M | $125.5M | ||
| Q2 24 | $34.4M | $99.0M | ||
| Q1 24 | $33.9M | $285.1M |
| Q4 25 | 23.4% | 70.0% | ||
| Q3 25 | 24.2% | 69.2% | ||
| Q2 25 | 23.3% | 70.7% | ||
| Q1 25 | 22.8% | 69.6% | ||
| Q4 24 | 24.9% | 70.0% | ||
| Q3 24 | 22.9% | 69.5% | ||
| Q2 24 | 21.7% | 70.8% | ||
| Q1 24 | 23.6% | 69.7% |
| Q4 25 | 9.4% | 31.7% | ||
| Q3 25 | 11.2% | 44.5% | ||
| Q2 25 | 10.8% | 59.5% | ||
| Q1 25 | 7.6% | 55.3% | ||
| Q4 24 | 12.3% | 67.0% | ||
| Q3 24 | 9.7% | 28.6% | ||
| Q2 24 | 8.1% | 31.1% | ||
| Q1 24 | 8.9% | 31.0% |
| Q4 25 | 7.6% | 17.9% | ||
| Q3 25 | 9.4% | 36.5% | ||
| Q2 25 | 9.3% | 49.3% | ||
| Q1 25 | 7.1% | 45.8% | ||
| Q4 24 | 10.8% | 66.4% | ||
| Q3 24 | 8.6% | 27.8% | ||
| Q2 24 | 7.2% | 22.4% | ||
| Q1 24 | 8.1% | 66.8% |
| Q4 25 | $5.58 | $1.24 | ||
| Q3 25 | $6.55 | $2.56 | ||
| Q2 25 | $6.42 | $3.44 | ||
| Q1 25 | $4.42 | $3.16 | ||
| Q4 24 | $6.90 | $4.00 | ||
| Q3 24 | $5.28 | $1.84 | ||
| Q2 24 | $4.11 | $1.45 | ||
| Q1 24 | $4.05 | $4.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $241.9M | $76.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $5.5B |
| Total Assets | $1.5B | $13.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $241.9M | $76.2M | ||
| Q3 25 | $391.8M | $66.0M | ||
| Q2 25 | $362.4M | $58.7M | ||
| Q1 25 | $376.1M | $98.7M | ||
| Q4 24 | $378.9M | $66.8M | ||
| Q3 24 | $388.7M | $71.3M | ||
| Q2 24 | $380.0M | $55.2M | ||
| Q1 24 | $371.0M | $499.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.2B | ||
| Q1 24 | — | $6.6B |
| Q4 25 | $1.1B | $5.5B | ||
| Q3 25 | $1.1B | $5.6B | ||
| Q2 25 | $1.1B | $5.6B | ||
| Q1 25 | $1.1B | $5.6B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $1.0B | $5.4B | ||
| Q2 24 | $1.0B | $5.5B | ||
| Q1 24 | $1.0B | $5.5B |
| Q4 25 | $1.5B | $13.2B | ||
| Q3 25 | $1.4B | $13.2B | ||
| Q2 25 | $1.4B | $13.2B | ||
| Q1 25 | $1.4B | $13.2B | ||
| Q4 24 | $1.4B | $12.9B | ||
| Q3 24 | $1.4B | $12.6B | ||
| Q2 24 | $1.4B | $12.5B | ||
| Q1 24 | $1.4B | $12.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.15× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.22× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 1.19× |
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 | $66.1M | $1.1B |
| Free Cash FlowOCF − Capex | $57.6M | — |
| FCF MarginFCF / Revenue | 9.9% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 1.50× | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $205.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $1.1B | ||
| Q3 25 | $78.5M | $342.6M | ||
| Q2 25 | $55.5M | $216.1M | ||
| Q1 25 | $38.6M | $281.5M | ||
| Q4 24 | $37.8M | $1.1B | ||
| Q3 24 | $54.7M | $316.2M | ||
| Q2 24 | $47.4M | $218.9M | ||
| Q1 24 | — | $314.9M |
| Q4 25 | $57.6M | — | ||
| Q3 25 | $68.7M | — | ||
| Q2 25 | $46.4M | — | ||
| Q1 25 | $32.5M | — | ||
| Q4 24 | $32.3M | — | ||
| Q3 24 | $49.8M | — | ||
| Q2 24 | $42.4M | — | ||
| Q1 24 | — | — |
| Q4 25 | 9.9% | — | ||
| Q3 25 | 12.4% | — | ||
| Q2 25 | 8.3% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 6.2% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 8.9% | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.5% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.50× | 12.53× | ||
| Q3 25 | 1.50× | 1.98× | ||
| Q2 25 | 1.08× | 0.93× | ||
| Q1 25 | 1.06× | 1.32× | ||
| Q4 24 | 0.67× | 3.54× | ||
| Q3 24 | 1.25× | 2.52× | ||
| Q2 24 | 1.38× | 2.21× | ||
| Q1 24 | — | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVCO
| Manufactured Product Other | $532.5M | 92% |
| Other | $26.0M | 4% |
| Financial Service Other | $20.5M | 4% |
| Insurance Agency Commissions | $2.0M | 0% |
ESS
Segment breakdown not available.
