Landsea Homes Corporation

LSEA

LSEALandsea Homes Corporation US flag

NASDAQ Capital Market

11.31

USD

- -

411.79MMarket Cap

Income Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Sales/Revenue/Turnover	631	735	1,023	1,446	1,210	1,550
+ Sales & Services Revenue	631	735	1,023	1,446	1,210	1,550
- Cost of Revenue	532	640	841	1,160	995	1,323
+ Cost of Goods & Services	532	640	841	1,160	995	1,323
Gross Profit	99	95	183	287	215	228
+ Other Operating Income	- -	- -	- -	- -	- -	- -
- Operating Expenses	61	91	123	179	175	200
+ Selling, General & Admin	61	91	123	179	175	200
+ Research & Development	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	38	4	59	108	40	27
- Non-Operating (Income) Loss	10	16	-7	7	-4	1
+ Interest Expense, Net	-3	-1	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -
- Interest Income	3	1	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	13	17	-7	7	-4	1
Pretax Income	29	-12	67	101	45	27
- Income Tax Expense (Benefit)	6	-3	14	25	12	8
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	22	-9	53	76	33	19
- Net Extraordinary Losses (Gains)	10	- -	- -	4	7	3
+ Discontinued Operations	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	10	- -	- -	4	7	3
Income (Loss) Incl. MI	12	-9	53	71	26	16
- Minority Interest	-5	- -	- -	-2	-3	-1
Net Income, GAAP	17	-9	53	74	29	17
- Preferred Dividends	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	17	-9	53	74	29	17
EBIT	38	4	59	108	40	27
EBITDA	41	8	65	114	45	35
EBITDA Margin (%)	6.5	1.06	6.34	7.87	3.75	2.25
EBITA	38	4	59	108	40	27
Gross Margin (%)	15.76	12.91	17.84	19.84	17.77	14.69
Operating Margin (%)	6.03	0.57	5.81	7.49	3.33	1.77
Profit Margin (%)	2.73	-1.22	5.16	5.08	2.42	1.11
Sales per Employee	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -
Depreciation Expense	3	4	5	6	5	7
Basic Weighted Avg Shares	33	46	45	42	39	- -
Basic EPS, GAAP	0.53	-0.19	1.17	1.75	0.75	- -
Basic EPS from Cont Ops	0.69	-0.2	1.17	1.8	0.84	- -
Diluted Weighted Avg Shares	33	46	45	42	39	- -
Diluted EPS, GAAP	0.53	-0.19	1.17	1.74	0.75	- -
Diluted EPS from Cont Ops	0.69	-0.2	1.17	1.79	0.84	- -

Balance Sheet (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Current Assets	- -	816	1,209	1,321	1,339	1,446
+ Cash, Cash Equivalents & STI	- -	106	343	124	120	53
+ Cash & Cash Equivalents	- -	106	343	124	120	53
+ ST Investments	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	- -	3	11	38	38	32
+ Accounts Receivable, Net	- -	- -	- -	- -	- -	- -
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	3	11	38	38	32
+ Inventories	- -	688	845	1,093	1,122	1,339
+ Raw Materials	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	688	845	1,093	1,122	1,339
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	20	11	66	60	22
+ Misc ST Assets	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	162	80	56	119	132	255
+ Property, Plant & Equip, Net	- -	12	19	25	9	64
+ Property, Plant & Equip	- -	12	19	37	25	64
- Accumulated Depreciation	- -	- -	- -	12	16	- -
+ LT Investments & Receivables	162	21	- -	- -	- -	- -
+ LT Investments	162	21	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	46	36	94	123	191
+ Total Intangible Assets	- -	22	25	69	69	156
+ Goodwill	- -	21	24	69	69	156
+ Other Intangible Assets	- -	1	1	- -	- -	1
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	24	11	25	54	34
Total Assets	162	896	1,266	1,440	1,471	1,701
+ Payables & Accruals	- -	81	131	171	188	209
+ Accounts Payable	- -	36	74	74	78	86
+ Accrued Taxes	- -	3	15	5	6	2
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	41	43	92	104	121
+ ST Debt	1	199	390	505	308	194
+ ST Borrowings	1	199	390	505	308	194
+ ST Finance Leases	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	4	- -	- -	- -
+ Deferred Revenue	- -	- -	4	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -
Total Current Liabilities	1	280	526	676	496	404
+ LT Debt	- -	72	84	16	249	585
+ LT Borrowings	- -	65	71	505	236	560
+ LT Finance Leases	- -	6	13	16	13	24
+ Other LT Liabilities	17	14	35	37	38	36
+ Accrued Liabilities	6	5	- -	- -	- -	- -
+ Pension Liabilities	- -	11	15	19	26	16
+ Deferred Revenue	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	11	-2	20	18	11	20
Total Noncurrent Liabilities	17	86	119	54	287	621
Total Liabilities	17	366	644	730	783	1,025
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	143	496	535	498	465	462
+ Common Stock	140	- -	- -	- -	- -	- -
+ Additional Paid in Capital	3	496	535	498	465	462
- Treasury Stock	- -	- -	- -	- -	- -	- -
+ Retained Earnings	2	32	85	158	188	205
+ Other Equity	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	145	528	620	656	653	667
+ Minority/Non Controlling Interest	- -	1	1	54	35	9
Total Equity	145	529	621	710	688	676
Total Liabilities & Equity	162	896	1,266	1,440	1,471	1,701
Shares Outstanding	46	46	46	41	37	36
Number of Employees	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	6	13	16	13	24
Net Debt	1	159	118	887	424	701
Net Debt to Equity	0.41	30.03	19.04	124.9	61.63	103.75
Tangible Common Equity Ratio	89.26	58.09	48.06	46.77	44.18	33.64
Current Ratio	0.49	2.92	2.3	1.95	2.7	3.58
Cash Conversion Cycle	- -	191.22	312.58	285.85	379.12	320.1

Cash Flow Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
+ Net Income	22	-9	53	76	33	19
+ Depreciation & Amortization	3	4	5	6	5	7
+ Non-Cash Items	12	15	-3	8	4	15
+ Stock-Based Compensation	- -	- -	6	4	3	4
+ Deferred Income Taxes	- -	-5	-3	-6	-5	3
+ Asset Impairment Charge	- -	3	- -	1	6	3
+ Other Non-Cash Adj	12	17	-6	10	- -	6
+ Chg in Non-Cash Work Cap	69	4	-22	-73	-15	-11
+ (Inc) Dec in Accts Receiv	19	- -	-2	1	-1	4
+ (Inc) Dec in Inventories	94	-20	-60	-13	-30	-65
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-33	28	39	6	14	2
+ Inc (Dec) in Other	-12	-4	- -	-67	2	48
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	106	14	33	16	27	30
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-6	-2	-3	-5	-7	-6
+ Acq of Fixed Prod Assets	-6	-2	-3	-5	-7	-6
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	-41	-35	-8
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	-41	-35	-8
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-24	-129	-45	-259	- -	-235
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-24	-129	-45	-259	- -	-235
+ Cash for JVs	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	7	5	22	1	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-22	-125	-26	-264	-7	-241
+ Dividends Paid	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-61	96	171	41	43	191
+ Cash From Debt	277	602	910	282	548	709
+ Repayments of Debt	-338	-506	-739	-240	-504	-518
+ Other Financing Activities	14	-31	54	28	-32	-38
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-47	65	225	28	-24	145
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -
Net Changes in Cash	37	-46	233	-220	-4	-66
EBITDA	41	8	65	114	45	35
EBITDA Margin (%)	6.5	1.06	6.34	7.87	3.75	2.25
Free Cash Flow	100	12	30	11	20	24
Net Cash Paid for Acquisitions	24	129	45	259	- -	235
Free Cash Flow to Firm	100	- -	30	11	20	24
Free Cash Flow to Equity	- -	108	202	52	63	215
Free Cash Flow per Basic Share	3.09	0.26	0.67	0.25	0.51	- -
Price/Free Cash Flow	3.02	31.88	9.06	10.24	14.82	- -
Cash Flow to Net Income	6.17	-1.52	0.63	0.22	0.93	1.72
Capital Expenditures	-6	-2	-3	-5	-7	-6