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Side-by-side financial comparison of CAVCO INDUSTRIES, INC. (CVCO) and LCI INDUSTRIES (LCII). Click either name above to swap in a different company.
LCI INDUSTRIES is the larger business by last-quarter revenue ($932.7M vs $581.0M, roughly 1.6× CAVCO INDUSTRIES, INC.). CAVCO INDUSTRIES, INC. runs the higher net margin — 7.6% vs 2.0%, a 5.6% gap on every dollar of revenue. On growth, LCI INDUSTRIES posted the faster year-over-year revenue change (16.1% vs 11.3%). LCI INDUSTRIES produced more free cash flow last quarter ($64.3M vs $57.6M). Over the past eight quarters, CAVCO INDUSTRIES, INC.'s revenue compounded faster (17.6% CAGR vs -1.8%).
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.
Lucky Core Industries Limited, formerly known as ICI Pakistan, is a Pakistani conglomerate company headquartered in Karachi. It manufactures polyester, pharmaceutical, agrochemical, soda ash, and veterinary medicine.
CVCO vs LCII — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $581.0M | $932.7M |
| Net Profit | $44.1M | $18.7M |
| Gross Margin | 23.4% | 22.1% |
| Operating Margin | 9.4% | 3.8% |
| Net Margin | 7.6% | 2.0% |
| Revenue YoY | 11.3% | 16.1% |
| Net Profit YoY | -22.0% | 95.7% |
| EPS (diluted) | $5.58 | $0.79 |
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 | $932.7M | ||
| Q3 25 | $556.5M | $1.0B | ||
| Q2 25 | $556.9M | $1.1B | ||
| Q1 25 | $508.4M | $1.0B | ||
| Q4 24 | $522.0M | $803.1M | ||
| Q3 24 | $507.5M | $915.5M | ||
| Q2 24 | $477.6M | $1.1B | ||
| Q1 24 | $420.1M | $968.0M |
| Q4 25 | $44.1M | $18.7M | ||
| Q3 25 | $52.4M | $62.5M | ||
| Q2 25 | $51.6M | $57.6M | ||
| Q1 25 | $36.3M | $49.4M | ||
| Q4 24 | $56.5M | $9.5M | ||
| Q3 24 | $43.8M | $35.6M | ||
| Q2 24 | $34.4M | $61.2M | ||
| Q1 24 | $33.9M | $36.5M |
| Q4 25 | 23.4% | 22.1% | ||
| Q3 25 | 24.2% | 24.4% | ||
| Q2 25 | 23.3% | 24.4% | ||
| Q1 25 | 22.8% | 24.1% | ||
| Q4 24 | 24.9% | 21.1% | ||
| Q3 24 | 22.9% | 24.0% | ||
| Q2 24 | 21.7% | 25.3% | ||
| Q1 24 | 23.6% | 23.1% |
| Q4 25 | 9.4% | 3.8% | ||
| Q3 25 | 11.2% | 7.3% | ||
| Q2 25 | 10.8% | 7.9% | ||
| Q1 25 | 7.6% | 7.8% | ||
| Q4 24 | 12.3% | 2.0% | ||
| Q3 24 | 9.7% | 5.9% | ||
| Q2 24 | 8.1% | 8.6% | ||
| Q1 24 | 8.9% | 6.0% |
| Q4 25 | 7.6% | 2.0% | ||
| Q3 25 | 9.4% | 6.0% | ||
| Q2 25 | 9.3% | 5.2% | ||
| Q1 25 | 7.1% | 4.7% | ||
| Q4 24 | 10.8% | 1.2% | ||
| Q3 24 | 8.6% | 3.9% | ||
| Q2 24 | 7.2% | 5.8% | ||
| Q1 24 | 8.1% | 3.8% |
| Q4 25 | $5.58 | $0.79 | ||
| Q3 25 | $6.55 | $2.55 | ||
| Q2 25 | $6.42 | $2.29 | ||
| Q1 25 | $4.42 | $1.94 | ||
| Q4 24 | $6.90 | $0.37 | ||
| Q3 24 | $5.28 | $1.39 | ||
| Q2 24 | $4.11 | $2.40 | ||
| Q1 24 | $4.05 | $1.44 |
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 | $222.6M |
| Total DebtLower is stronger | — | $945.2M |
| Stockholders' EquityBook value | $1.1B | $1.4B |
| Total Assets | $1.5B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $241.9M | $222.6M | ||
| Q3 25 | $391.8M | $199.7M | ||
| Q2 25 | $362.4M | $191.9M | ||
| Q1 25 | $376.1M | $231.2M | ||
| Q4 24 | $378.9M | $165.8M | ||
| Q3 24 | $388.7M | $161.2M | ||
| Q2 24 | $380.0M | $130.4M | ||
| Q1 24 | $371.0M | $22.6M |
| Q4 25 | — | $945.2M | ||
| Q3 25 | — | $947.8M | ||
| Q2 25 | — | $948.0M | ||
| Q1 25 | — | $938.3M | ||
| Q4 24 | — | $757.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | — | $829.7M | ||
| Q1 24 | — | $855.3M |
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $1.0B | $1.4B | ||
| Q2 24 | $1.0B | $1.4B | ||
| Q1 24 | $1.0B | $1.4B |
| Q4 25 | $1.5B | $3.2B | ||
| Q3 25 | $1.4B | $3.2B | ||
| Q2 25 | $1.4B | $3.2B | ||
| Q1 25 | $1.4B | $3.1B | ||
| Q4 24 | $1.4B | $2.9B | ||
| Q3 24 | $1.4B | $3.0B | ||
| Q2 24 | $1.4B | $3.0B | ||
| Q1 24 | $1.4B | $3.0B |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | — | 0.63× |
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 | $78.9M |
| Free Cash FlowOCF − Capex | $57.6M | $64.3M |
| FCF MarginFCF / Revenue | 9.9% | 6.9% |
| Capex IntensityCapex / Revenue | 1.5% | 1.6% |
| Cash ConversionOCF / Net Profit | 1.50× | 4.22× |
| TTM Free Cash FlowTrailing 4 quarters | $205.3M | $278.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $78.9M | ||
| Q3 25 | $78.5M | $97.2M | ||
| Q2 25 | $55.5M | $112.2M | ||
| Q1 25 | $38.6M | $42.7M | ||
| Q4 24 | $37.8M | $106.6M | ||
| Q3 24 | $54.7M | $78.4M | ||
| Q2 24 | $47.4M | $192.9M | ||
| Q1 24 | — | $-7.7M |
| Q4 25 | $57.6M | $64.3M | ||
| Q3 25 | $68.7M | $80.9M | ||
| Q2 25 | $46.4M | $99.5M | ||
| Q1 25 | $32.5M | $33.7M | ||
| Q4 24 | $32.3M | $95.7M | ||
| Q3 24 | $49.8M | $68.3M | ||
| Q2 24 | $42.4M | $180.2M | ||
| Q1 24 | — | $-16.3M |
| Q4 25 | 9.9% | 6.9% | ||
| Q3 25 | 12.4% | 7.8% | ||
| Q2 25 | 8.3% | 9.0% | ||
| Q1 25 | 6.4% | 3.2% | ||
| Q4 24 | 6.2% | 11.9% | ||
| Q3 24 | 9.8% | 7.5% | ||
| Q2 24 | 8.9% | 17.1% | ||
| Q1 24 | — | -1.7% |
| Q4 25 | 1.5% | 1.6% | ||
| Q3 25 | 1.7% | 1.6% | ||
| Q2 25 | 1.6% | 1.2% | ||
| Q1 25 | 1.2% | 0.9% | ||
| Q4 24 | 1.0% | 1.4% | ||
| Q3 24 | 1.0% | 1.1% | ||
| Q2 24 | 1.0% | 1.2% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 1.50× | 4.22× | ||
| Q3 25 | 1.50× | 1.55× | ||
| Q2 25 | 1.08× | 1.95× | ||
| Q1 25 | 1.06× | 0.86× | ||
| Q4 24 | 0.67× | 11.17× | ||
| Q3 24 | 1.25× | 2.20× | ||
| Q2 24 | 1.38× | 3.15× | ||
| Q1 24 | — | -0.21× |
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% |
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
