Smith Douglas Homes Corp.
SDHC Real Estate Real Estate Development
Smith Douglas Homes Corp.’s revenue for fiscal 2025 (year ended December 2025) was $971.1 million, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 21.9%, EPS fell 88.5% and free cash flow grew 112.6%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Smith Douglas Homes Corp. (SDHC) Piotroski F-score
Smith Douglas Homes Corp.'s Piotroski F-score for fiscal 2025 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 2 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 2.07% | 3.88% | Pass | 1 |
| Positive operating cash flow | (31.34m) | 19.13m | Fail | 0 |
| Rising return on assets | 2.07% | 3.88% | Fail | 0 |
| Cash flow above net income | (42.03m) | 3.06m | Fail | 0 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 0.18 | 0.42 | Fail | 0 |
| No new shares issued | 9,001,000 | 8,846,000 | Fail | 0 |
| Rising gross margin | 21.85% | 26.20% | Fail | 0 |
| Rising asset turnover | 1.88 | 2.35 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CCS Century Communities, Inc. compare | 6 |
| AXR AMREP Corporation compare | 6 |
| LPA Logistic Properties of the Americas compare | 5 |
| FPH Five Point Holdings, LLC compare | 5 |
| OZ Belpointe PREP, LLC compare | 4 |
| SKYH Sky Harbour Group Corporation compare | 4 |
| SDHC Smith Douglas Homes Corp. | 2 |
| XTND Xtend AI Robotics, Inc. compare | 2 |
| FOR Forestar Group Inc compare | 1 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover