LGI Homes, Inc.
LGIH · Operative Builders · 23.2M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Reference price $41.54 · est. market cap ~$965M — last insider sale, 2026-03-09 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D53Entry-level homebuilder in a sharp cyclical downturn with collapsing earnings, weak returns and negative cash flow.
Strengths
- Still profitable: net income $72.6M, net margin 4.3%, operating margin at 58th pct
- Sizable owned/controlled lot pipeline (60,842 lots)
Risks
- Revenue -22.6%, net income -63%, gross margin down to 20.7% (38th pct); ROA only 1.85% (19th)
- Negative OCF and FCF (both ~7th pct) from land/inventory build; high rate sensitivity for first-time buyers
Notable findings
- Auditor changeRecent 8-K item 4.01 8-K ↗
- Cash burnNegative free cash flow (-140.9M)
- Customer concentration~13% of revenue from one customer/distributor — 8 % 12
- Revenue declineRevenue -32.5% YoY
- Insider sellingInsider selling — 18 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$3M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
20.7%
Operating margin
4.7%
Net margin
4.3%
Return on assets
1.8%
Revenue growth (QoQ)
-32.5%
Net-income growth
-63.0%
Free cash flow
-$141M
EBITDA
$84M
Stock comp / revenue
0.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-09 | Lipar Eric Thomas | Sell | 1.3K | $42.55 |
| 2026-03-09 | Lipar Eric Thomas | Sell | 5.9K | $43.41 |
| 2026-03-09 | Lipar Eric Thomas | Sell | 11K | $41.54 |
| 2026-03-09 | Lipar Eric Thomas | Sell | 1.9K | $42.40 |
| 2026-03-09 | Garber Scott James | Sell | 961 | $41.54 |
| 2026-03-09 | Snider Michael Larry | Sell | 5.6K | $41.54 |
| 2026-03-09 | Snider Michael Larry | Sell | 404 | $42.55 |
| 2026-03-09 | Snider Michael Larry | Sell | 1.9K | $43.41 |
| 2026-03-09 | Snider Michael Larry | Sell | 4.3K | $41.54 |
| 2026-03-09 | Snider Michael Larry | Sell | 307 | $42.55 |
| 2026-03-09 | Snider Michael Larry | Sell | 1.4K | $43.41 |
| 2026-03-09 | Garber Scott James | Sell | 69 | $42.55 |
| 2026-03-09 | Merdian Charles Michael | Sell | 5.1K | $41.54 |
| 2026-03-09 | Merdian Charles Michael | Sell | 369 | $42.55 |
| 2026-03-09 | Merdian Charles Michael | Sell | 1.7K | $43.41 |
| 2026-03-09 | Lipar Eric Thomas | Sell | 2.3K | $43.40 |
| 2026-03-09 | Garber Scott James | Sell | 323 | $43.41 |
| 2026-03-09 | Lipar Eric Thomas | Sell | 18K | $41.54 |
| 2026-03-08 | Garber Scott James | Grant | 4.5K | — |
| 2026-03-08 | Snider Michael Larry | Grant | 12K | — |
| 2026-03-08 | Merdian Charles Michael | Grant | 11K | — |
| 2026-03-08 | Lipar Eric Thomas | Grant | 36K | — |
| 2026-03-06 | Vahradian Robert Karnig | Gift | 1.0K | — |
| 2025-12-15 | Parikh Shailee | Grant | 3.2K | — |
| 2025-12-15 | Edone Ryan | Grant | 3.2K | — |
| 2025-12-15 | Sansbury Bryan Christopher | Grant | 3.2K | — |
| 2025-12-15 | Smith Steven Randal | Grant | 3.2K | — |
| 2025-12-15 | Vahradian Robert Karnig | Grant | 3.2K | — |
| 2025-12-15 | Sharpe Maria Renna | Grant | 3.2K | — |
| 2025-08-27 | Merdian Charles Michael | Gift | 469 | — |
| 2025-08-26 | Merdian Charles Michael | Inherited | 469 | — |
| 2025-03-13 | Merdian Charles Michael | Other | 2.0K | — |
| 2025-03-13 | Snider Michael Larry | Other | 1.1K | — |
| 2025-03-11 | Lipar Eric Thomas | Sell | 3.5K | $75.94 |
| 2025-03-10 | Snider Michael Larry | Sell | 1.1K | $75.94 |
| 2025-03-08 | Lipar Eric Thomas | Grant | 11K | — |
| 2025-03-08 | Merdian Charles Michael | Grant | 3.7K | — |
| 2025-03-08 | Snider Michael Larry | Grant | 4.0K | — |
| 2025-03-08 | Garber Scott James | Grant | 1.6K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | Auditor changeExhibits | filing ↗ |
| 2026-04-28 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-27 | Shareholder voteExhibits | filing ↗ |
| 2026-02-17 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-04 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-05 | ResultsReg FDExhibits | filing ↗ |
| 2025-04-29 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2025-04-29 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-08 | 0001580670-26-000053 ↗ |
| 10-Q | 2026-04-28 | 2026-03-31 | 0001580670-26-000048 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001580670-26-000044 ↗ |
| 8-K | 2026-04-27 | 2026-04-23 | 0001580670-26-000039 ↗ |
| 10-K | 2026-02-20 | 2025-12-31 | 0001580670-26-000019 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001580670-26-000007 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001580670-25-000074 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001580670-25-000076 ↗ |
| 8-K | 2025-08-05 | 2025-08-05 | 0001580670-25-000055 ↗ |
| 10-Q | 2025-08-05 | 2025-06-30 | 0001580670-25-000058 ↗ |
| 10-Q | 2025-04-30 | 2025-03-31 | 0001580670-25-000043 ↗ |
| 8-K | 2025-04-29 | 2025-04-24 | 0001580670-25-000042 ↗ |