Cavco Industries, Inc.
CVCO Consumer Cyclical Residential Construction
Cavco Industries, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.2 billion, up 11.4% from fiscal 2025. In the quarter to June 2026, revenue grew 9.54%, EPS fell 15.6% and free cash flow grew 5.65%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Cavco Industries, Inc. (CVCO) Altman Z-score
Cavco Industries, Inc.'s Altman Z-score for fiscal 2026 is 9.59, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 9.59 | (1.43) |
| FY2025 | 11.03 | 1.34 |
| FY2024 | 9.69 | 0.82 |
| FY2023 | 8.87 | 1.56 |
| FY2022 | 7.30 | 0.04 |
| FY2021 | 7.27 | 0.57 |
| FY2020 | 6.69 | 0.69 |
| FY2019 | 6.00 | (0.84) |
| FY2018 | 6.84 | 1.54 |
| FY2017 | 5.30 | 0.59 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.33 | — | 0.39 | |
| Retained earnings / total assets | 0.93 | — | 1.30 | |
| EBIT / total assets | 0.15 | — | 0.51 | |
| Market value of equity / total liabilities | 9.80 | — | 5.88 | |
| Sales / total assets | 1.51 | — | 1.51 | |
| Altman Z-score | Safe zone | 9.59 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 9.20 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| NVR NVR, Inc. compare | 13.8× |
| CVCO Cavco Industries, Inc. | 9.6× |
| SKY Champion Homes, Inc. compare | 7.1× |
| IBP Installed Building Products, Inc. compare | 6.3× |
| GRBK Green Brick Partners, Inc. compare | 5.7× |
| MHO M/I Homes, Inc. compare | 4.5× |
| TOL Toll Brothers Inc. compare | 4.1× |
| KBH KB Home compare | 3.8× |
| MTH Meritage Homes Corporation compare | 3.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets