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Side-by-side financial comparison of CAVCO INDUSTRIES, INC. (CVCO) and FIRST INTERSTATE BANCSYSTEM INC (FIBK). Click either name above to swap in a different company.
CAVCO INDUSTRIES, INC. is the larger business by last-quarter revenue ($581.0M vs $313.0M, roughly 1.9× FIRST INTERSTATE BANCSYSTEM INC). FIRST INTERSTATE BANCSYSTEM INC runs the higher net margin — 34.8% vs 7.6%, a 27.2% gap on every dollar of revenue. On growth, FIRST INTERSTATE BANCSYSTEM INC posted the faster year-over-year revenue change (19.8% vs 11.3%). Over the past eight quarters, CAVCO INDUSTRIES, INC.'s revenue compounded faster (17.6% CAGR vs 13.7%).
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.
First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.
CVCO vs FIBK — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $581.0M | $313.0M |
| Net Profit | $44.1M | $108.8M |
| Gross Margin | 23.4% | — |
| Operating Margin | 9.4% | 44.5% |
| Net Margin | 7.6% | 34.8% |
| Revenue YoY | 11.3% | 19.8% |
| Net Profit YoY | -22.0% | 108.8% |
| EPS (diluted) | $5.58 | $1.07 |
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 | $313.0M | ||
| Q3 25 | $556.5M | $250.5M | ||
| Q2 25 | $556.9M | $248.3M | ||
| Q1 25 | $508.4M | $247.0M | ||
| Q4 24 | $522.0M | $261.3M | ||
| Q3 24 | $507.5M | $251.9M | ||
| Q2 24 | $477.6M | $244.3M | ||
| Q1 24 | $420.1M | $242.2M |
| Q4 25 | $44.1M | $108.8M | ||
| Q3 25 | $52.4M | $71.4M | ||
| Q2 25 | $51.6M | $71.7M | ||
| Q1 25 | $36.3M | $50.2M | ||
| Q4 24 | $56.5M | $52.1M | ||
| Q3 24 | $43.8M | $55.5M | ||
| Q2 24 | $34.4M | $60.0M | ||
| Q1 24 | $33.9M | $58.4M |
| 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% | 44.5% | ||
| Q3 25 | 11.2% | 37.0% | ||
| Q2 25 | 10.8% | 37.7% | ||
| Q1 25 | 7.6% | 26.9% | ||
| Q4 24 | 12.3% | 25.5% | ||
| Q3 24 | 9.7% | 28.9% | ||
| Q2 24 | 8.1% | 32.1% | ||
| Q1 24 | 8.9% | 31.7% |
| Q4 25 | 7.6% | 34.8% | ||
| Q3 25 | 9.4% | 28.5% | ||
| Q2 25 | 9.3% | 28.9% | ||
| Q1 25 | 7.1% | 20.3% | ||
| Q4 24 | 10.8% | 19.9% | ||
| Q3 24 | 8.6% | 22.0% | ||
| Q2 24 | 7.2% | 24.6% | ||
| Q1 24 | 8.1% | 24.1% |
| Q4 25 | $5.58 | $1.07 | ||
| Q3 25 | $6.55 | $0.69 | ||
| Q2 25 | $6.42 | $0.69 | ||
| Q1 25 | $4.42 | $0.49 | ||
| Q4 24 | $6.90 | $0.50 | ||
| Q3 24 | $5.28 | $0.54 | ||
| Q2 24 | $4.11 | $0.58 | ||
| Q1 24 | $4.05 | $0.57 |
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 | — |
| Total DebtLower is stronger | — | $146.3M |
| Stockholders' EquityBook value | $1.1B | $3.4B |
| Total Assets | $1.5B | $26.6B |
| Debt / EquityLower = less leverage | — | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $241.9M | — | ||
| Q3 25 | $391.8M | — | ||
| Q2 25 | $362.4M | — | ||
| Q1 25 | $376.1M | — | ||
| Q4 24 | $378.9M | — | ||
| Q3 24 | $388.7M | — | ||
| Q2 24 | $380.0M | — | ||
| Q1 24 | $371.0M | — |
| Q4 25 | — | $146.3M | ||
| Q3 25 | — | $146.2M | ||
| Q2 25 | — | $252.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $132.2M | ||
| Q3 24 | — | $137.3M | ||
| Q2 24 | — | $383.4M | ||
| Q1 24 | — | $370.8M |
| Q4 25 | $1.1B | $3.4B | ||
| Q3 25 | $1.1B | $3.4B | ||
| Q2 25 | $1.1B | $3.4B | ||
| Q1 25 | $1.1B | $3.4B | ||
| Q4 24 | $1.1B | $3.3B | ||
| Q3 24 | $1.0B | $3.4B | ||
| Q2 24 | $1.0B | $3.2B | ||
| Q1 24 | $1.0B | $3.2B |
| Q4 25 | $1.5B | $26.6B | ||
| Q3 25 | $1.4B | $27.3B | ||
| Q2 25 | $1.4B | $27.6B | ||
| Q1 25 | $1.4B | $28.3B | ||
| Q4 24 | $1.4B | $29.1B | ||
| Q3 24 | $1.4B | $29.6B | ||
| Q2 24 | $1.4B | $30.3B | ||
| Q1 24 | $1.4B | $30.1B |
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $305.6M |
| Free Cash FlowOCF − Capex | $57.6M | — |
| FCF MarginFCF / Revenue | 9.9% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 1.50× | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $205.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $305.6M | ||
| Q3 25 | $78.5M | $91.7M | ||
| Q2 25 | $55.5M | $68.1M | ||
| Q1 25 | $38.6M | $78.5M | ||
| Q4 24 | $37.8M | $355.0M | ||
| Q3 24 | $54.7M | $89.9M | ||
| Q2 24 | $47.4M | $82.3M | ||
| Q1 24 | — | $87.6M |
| 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× | 2.81× | ||
| Q3 25 | 1.50× | 1.28× | ||
| Q2 25 | 1.08× | 0.95× | ||
| Q1 25 | 1.06× | 1.56× | ||
| Q4 24 | 0.67× | 6.81× | ||
| Q3 24 | 1.25× | 1.62× | ||
| Q2 24 | 1.38× | 1.37× | ||
| Q1 24 | — | 1.50× |
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% |
FIBK
Segment breakdown not available.
