vs
Side-by-side financial comparison of CAVCO INDUSTRIES, INC. (CVCO) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
CAVCO INDUSTRIES, INC. is the larger business by last-quarter revenue ($581.0M vs $340.0M, roughly 1.7× Walker & Dunlop, Inc.). CAVCO INDUSTRIES, INC. runs the higher net margin — 7.6% vs -12.9%, a 20.5% gap on every dollar of revenue. On growth, CAVCO INDUSTRIES, INC. posted the faster year-over-year revenue change (11.3% vs -0.4%). CAVCO INDUSTRIES, INC. produced more free cash flow last quarter ($57.6M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 17.6%).
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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
CVCO vs WD — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $581.0M | $340.0M |
| Net Profit | $44.1M | $-13.9M |
| Gross Margin | 23.4% | — |
| Operating Margin | 9.4% | -17.2% |
| Net Margin | 7.6% | -12.9% |
| Revenue YoY | 11.3% | -0.4% |
| Net Profit YoY | -22.0% | -131.0% |
| EPS (diluted) | $5.58 | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $556.5M | $337.7M | ||
| Q2 25 | $556.9M | $319.2M | ||
| Q1 25 | $508.4M | $237.4M | ||
| Q4 24 | $522.0M | $341.5M | ||
| Q3 24 | $507.5M | $292.3M | ||
| Q2 24 | $477.6M | $270.7M | ||
| Q1 24 | $420.1M | $228.1M |
| Q4 25 | $44.1M | $-13.9M | ||
| Q3 25 | $52.4M | $33.5M | ||
| Q2 25 | $51.6M | $34.0M | ||
| Q1 25 | $36.3M | $2.8M | ||
| Q4 24 | $56.5M | $44.8M | ||
| Q3 24 | $43.8M | $28.8M | ||
| Q2 24 | $34.4M | $22.7M | ||
| Q1 24 | $33.9M | $11.9M |
| 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% | -17.2% | ||
| Q3 25 | 11.2% | 13.6% | ||
| Q2 25 | 10.8% | 14.5% | ||
| Q1 25 | 7.6% | 2.2% | ||
| Q4 24 | 12.3% | 15.3% | ||
| Q3 24 | 9.7% | 12.8% | ||
| Q2 24 | 8.1% | 10.4% | ||
| Q1 24 | 8.9% | 6.0% |
| Q4 25 | 7.6% | -12.9% | ||
| Q3 25 | 9.4% | 9.9% | ||
| Q2 25 | 9.3% | 10.6% | ||
| Q1 25 | 7.1% | 1.2% | ||
| Q4 24 | 10.8% | 13.1% | ||
| Q3 24 | 8.6% | 9.9% | ||
| Q2 24 | 7.2% | 8.4% | ||
| Q1 24 | 8.1% | 5.2% |
| Q4 25 | $5.58 | $-0.41 | ||
| Q3 25 | $6.55 | $0.98 | ||
| Q2 25 | $6.42 | $0.99 | ||
| Q1 25 | $4.42 | $0.08 | ||
| Q4 24 | $6.90 | $1.32 | ||
| Q3 24 | $5.28 | $0.85 | ||
| Q2 24 | $4.11 | $0.67 | ||
| Q1 24 | $4.05 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $1.7B |
| Total Assets | $1.5B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $241.9M | $299.3M | ||
| Q3 25 | $391.8M | $274.8M | ||
| Q2 25 | $362.4M | $233.7M | ||
| Q1 25 | $376.1M | $181.0M | ||
| Q4 24 | $378.9M | $279.3M | ||
| Q3 24 | $388.7M | $179.8M | ||
| Q2 24 | $380.0M | $208.1M | ||
| Q1 24 | $371.0M | $216.5M |
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | $1.1B | $1.7B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $1.0B | $1.7B | ||
| Q1 24 | $1.0B | $1.7B |
| Q4 25 | $1.5B | $5.1B | ||
| Q3 25 | $1.4B | $5.8B | ||
| Q2 25 | $1.4B | $4.7B | ||
| Q1 25 | $1.4B | $4.5B | ||
| Q4 24 | $1.4B | $4.4B | ||
| Q3 24 | $1.4B | $4.6B | ||
| Q2 24 | $1.4B | $4.2B | ||
| Q1 24 | $1.4B | $3.8B |
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 | $-664.3M |
| Free Cash FlowOCF − Capex | $57.6M | $-680.1M |
| FCF MarginFCF / Revenue | 9.9% | -200.0% |
| Capex IntensityCapex / Revenue | 1.5% | 4.6% |
| Cash ConversionOCF / Net Profit | 1.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $205.3M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $-664.3M | ||
| Q3 25 | $78.5M | $-948.1M | ||
| Q2 25 | $55.5M | $-238.5M | ||
| Q1 25 | $38.6M | $-281.1M | ||
| Q4 24 | $37.8M | $129.4M | ||
| Q3 24 | $54.7M | $-202.0M | ||
| Q2 24 | $47.4M | $-237.8M | ||
| Q1 24 | — | $38.4M |
| Q4 25 | $57.6M | $-680.1M | ||
| Q3 25 | $68.7M | $-950.4M | ||
| Q2 25 | $46.4M | $-241.0M | ||
| Q1 25 | $32.5M | $-284.7M | ||
| Q4 24 | $32.3M | $116.4M | ||
| Q3 24 | $49.8M | $-204.0M | ||
| Q2 24 | $42.4M | $-241.7M | ||
| Q1 24 | — | $35.2M |
| Q4 25 | 9.9% | -200.0% | ||
| Q3 25 | 12.4% | -281.5% | ||
| Q2 25 | 8.3% | -75.5% | ||
| Q1 25 | 6.4% | -120.0% | ||
| Q4 24 | 6.2% | 34.1% | ||
| Q3 24 | 9.8% | -69.8% | ||
| Q2 24 | 8.9% | -89.3% | ||
| Q1 24 | — | 15.4% |
| Q4 25 | 1.5% | 4.6% | ||
| Q3 25 | 1.7% | 0.7% | ||
| Q2 25 | 1.6% | 0.8% | ||
| Q1 25 | 1.2% | 1.5% | ||
| Q4 24 | 1.0% | 3.8% | ||
| Q3 24 | 1.0% | 0.7% | ||
| Q2 24 | 1.0% | 1.4% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | 1.50× | — | ||
| Q3 25 | 1.50× | -28.34× | ||
| Q2 25 | 1.08× | -7.02× | ||
| Q1 25 | 1.06× | -102.07× | ||
| Q4 24 | 0.67× | 2.89× | ||
| Q3 24 | 1.25× | -7.01× | ||
| Q2 24 | 1.38× | -10.49× | ||
| Q1 24 | — | 3.24× |
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% |
WD
Segment breakdown not available.
