Champion Homes, Inc.
SKY Consumer Cyclical Residential Construction
Champion Homes, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.7 billion, up 7.26% from fiscal 2025. In the quarter to June 2026, revenue grew 1.27%, EPS fell 21.2%, free cash flow fell 4.47% and total debt fell 40.1%, each against the same quarter a year earlier.
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Champion Homes, Inc. (SKY) Beneish M-score
Champion Homes, Inc.'s Beneish M-score for fiscal 2026 is −2.64; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.64 | (0.19) |
| FY2025 | −2.45 | (0.12) |
| FY2024 | −2.33 | 0.37 |
| FY2023 | −2.70 | (0.64) |
| FY2022 | −2.05 | 0.54 |
| FY2021 | −2.59 | 0.22 |
| FY2020 | −2.81 | (0.31) |
| FY2019 | −2.50 | (2.39) |
| FY2018 | −0.11 | 2.56 |
| FY2016 | −2.67 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.98 | — | 0.91 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 0.95 | — | 0.38 | |
| Sales growth index | 1.07 | — | 0.96 | |
| Depreciation index | 0.91 | — | 0.10 | |
| SG&A index | 0.99 | — | −0.17 | |
| Total accruals to total assets | (0.04) | — | −0.20 | |
| Leverage index | 0.98 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.64 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| IBP Installed Building Products, Inc. compare | −2.7× |
| SKY Champion Homes, Inc. | −2.6× |
| CVCO Cavco Industries, Inc. compare | −2.6× |
| KBH KB Home compare | −2.4× |
| TOL Toll Brothers Inc. compare | −2.4× |
| NVR NVR, Inc. compare | −2.1× |
| MTH Meritage Homes Corporation compare | −2.0× |
| GRBK Green Brick Partners, Inc. compare | −0.3× |
| MHO M/I Homes, Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI