olivLaw · US equity research
Champion Homes, Inc. SKY
Mobile Homes · SIC 2451 · Vertical: Lumber and wood products (SIC 24xx)
Champion Homes is one of the largest producers of factory-built housing in North America, making manufactured homes, modular units and ADUs, and operating its own retail sales centers and transport services. The company is in focus because demand for affordable housing remains strong, and revenue rose in the first quarter of fiscal 2027 to net sales of 710.2 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Champion Homes, Inc. (SKY) stock was 93.16 USD (−3.13% on the day), with market capitalisation 5.0 bn USD, P/E 27.7 on diluted EPS of 3.36 USD over the last 12 months, dividend yield 0.00%, beta 0.94, 52-week range 65.23–97.46 USD. Latest reported quarter (Q2 2027): revenue of 727.0 m USD (+6.2% YoY), net income of 52.7 m USD (−9.5% YoY), diluted EPS 0.97 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 64.4
- strong (55–70)
- Bollinger (20, 2)
- 70.01 – 92.44
- above the upper band · %B 1.03 · band width 27.6%
- SMA 50 / 200
- 83.97 / 82.26
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.92 / -0.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +8.5% | −1.1% | +9.6 pp | — |
| 3 months | +1.8% | −0.5% | +2.2 pp | — |
| 6 months | +27.1% | +4.4% | +22.7 pp | — |
| Year to date | +10.2% | +12.3% | −2.1 pp | — |
| 1 year | +27.2% | +13.5% | +13.7 pp | +1.0% |
| 3 years | +64.9% | +76.4% | −11.5 pp | −16.3% |
| 5 years | +26.3% | +63.7% | −37.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 26 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 644.9 m | 593.9 m | 701.3 m | 684.4 m | 656.6 m | 621.3 m | 710.2 m | 727.0 m |
| Cost of revenue | 463.9 m | 441.4 m | 511.5 m | 496.5 m | 484.4 m | 466.9 m | 531.0 m | 541.4 m |
| Gross profit | 181.0 m | 152.5 m | 189.8 m | 187.9 m | 172.2 m | 154.4 m | 179.3 m | 185.6 m |
| SG&A | 108.2 m | 110.3 m | 111.3 m | 113.1 m | 109.7 m | 118.4 m | 119.0 m | 119.8 m |
| Operating income | 72.8 m | 42.2 m | 78.5 m | 74.8 m | 62.5 m | 36.0 m | 60.3 m | 65.8 m |
| Depreciation & amortisation | 10.7 m ≈ | 11.1 m | 11.9 m | 11.7 m ≈ | 12.3 m ≈ | 12.0 m | 12.3 m | 12.5 m ≈ |
| Pre-tax income | 79.0 m | 46.2 m | 84.3 m | 78.8 m | 67.5 m | 40.1 m | 68.1 m | 73.1 m |
| Income tax | 16.7 m | 7.9 m | 17.7 m | 18.6 m | 12.4 m | 8.1 m | 17.0 m | 17.7 m |
| Net income | 61.5 m | 36.3 m | 64.7 m | 58.2 m | 54.3 m | 29.7 m | 49.2 m | 52.7 m |
| Diluted EPS | 1.06 | 0.63 ≈ | 1.13 | 1.03 | 0.97 | 0.53 ≈ | 0.89 | 0.97 |
| Operating cash flow | 50.4 m ≈ | 46.0 m | 75.3 m | 75.9 m ≈ | 100.0 m ≈ | 52.7 m | 72.5 m | 43.0 m ≈ |
| Capex | 13.1 m ≈ | 12.6 m | 8.9 m | 8.9 m ≈ | 7.1 m ≈ | 9.2 m | 9.8 m | 12.1 m ≈ |
| Share repurchases | 20.0 m ≈ | 20.0 m | 50.0 m | 50.0 m ≈ | 50.0 m ≈ | 50.0 m | 50.0 m | 50.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 65 percentile of its own 31-quarter history (min 6.9, median 25.9, max 175.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.4 bn | 1.4 bn | 1.4 bn | 2.2 bn | 2.6 bn | 2.0 bn | 2.5 bn | 2.7 bn |
| Revenue YoY | +27.7% | +0.7% | +3.7% | +55.3% | +18.1% | −22.3% | +22.7% | +7.3% |
| Net income | -58.2 m | 58.2 m | 84.9 m | 248.0 m | 401.8 m | 146.7 m | 198.4 m | 206.9 m |
| Net income YoY | −468.4% | unavailable | +46.0% | +192.2% | +62.0% | −63.5% | +35.3% | +4.3% |
| Diluted EPS | -1.09 | 1.02 | 1.49 | 4.33 | 7.00 | 2.53 | 3.42 | 3.66 |
| Diluted EPS YoY | −430.3% | unavailable | +46.1% | +190.6% | +61.7% | −63.9% | +35.2% | +7.0% |
| net % | -4.3% | 4.2% | 6.0% | 11.2% | 15.4% | 7.2% | 8.0% | 7.8% |
| Free cash flow | 53.1 m | 61.4 m | 145.9 m | 192.5 m | 364.0 m | 169.8 m | 190.3 m | 269.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 28 Mar 2026
- Cash
- 638.3 m USD
- Financial debt
- 23.8 m USD
- Net debt
- -614.5 m USD
- Equity
- 1.6 bn USD
- Total assets
- 2.1 bn USD
- Debt / equity
- 0.02x
- Current ratio
- 2.48x
- ROE
- 13.3%
- ROA
- 9.8%
- FCF margin
- 10.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.4 bn | 2.2 bn | 2.6 bn | 2.0 bn | 2.5 bn | 2.7 bn | SEC (XBRL)· 26 May 2026verified |
| Cost of revenue | 1.1 bn | 1.6 bn | 1.8 bn | 1.5 bn | 1.8 bn | 2.0 bn | SEC (XBRL)· 26 May 2026verified |
| Gross profit | 287.7 m | 589.1 m | 818.7 m | 485.8 m | 664.0 m | 704.3 m | SEC (XBRL)· 26 May 2026verified |
| SG&A | 178.9 m | 256.2 m | 300.4 m | 310.6 m | 427.0 m | 452.6 m | SEC (XBRL)· 26 May 2026verified |
| Operating income | 108.8 m | 332.9 m | 518.3 m | 175.2 m | 237.0 m | 251.8 m | SEC (XBRL)· 26 May 2026verified |
| Depreciation & amortisation | 17.7 m | 20.9 m | 26.7 m | 34.9 m | 41.9 m | 47.8 m | SEC (XBRL)· 26 May 2026verified |
| EBITDA | 126.5 m ≈ | 353.8 m ≈ | 545.0 m ≈ | 210.1 m ≈ | 278.9 m ≈ | 299.6 m ≈ | SEC (XBRL)· 26 May 2026derived |
| Interest expense | 3.8 m | 3.2 m | 3.3 m | 4.6 m | 8.5 m | 7.5 m | SEC (XBRL)· 26 May 2026verified |
| Pre-tax income | 111.4 m | 330.4 m | 533.9 m | 200.9 m | 257.4 m | 270.6 m | SEC (XBRL)· 26 May 2026verified |
| Income tax | 26.5 m | 82.4 m | 132.1 m | 47.1 m | 53.7 m | 56.8 m | SEC (XBRL)· 26 May 2026verified |
| Net income | 84.9 m | 248.0 m | 401.8 m | 146.7 m | 198.4 m | 206.9 m | SEC (XBRL)· 26 May 2026verified |
| Diluted EPS | 1.49 | 4.33 | 7.00 | 2.53 | 3.42 | 3.66 | SEC (XBRL)· 26 May 2026verified |
| Weighted average diluted shares | 57.0 m | 57.3 m | 57.4 m | 58.0 m | 58.1 m | 56.5 m | SEC (XBRL)· 26 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 262.6 m | 435.4 m | 747.5 m | 495.1 m | 610.3 m | 638.3 m | SEC (XBRL)· 26 May 2026verified |
| Receivables | 57.5 m | 90.5 m | 67.3 m | 64.6 m | 84.1 m | 88.8 m | SEC (XBRL)· 26 May 2026verified |
| Inventories | 166.1 m | 241.3 m | 202.2 m | 318.7 m | 360.6 m | 358.3 m | SEC (XBRL)· 26 May 2026verified |
| Current assets | 499.8 m | 782.3 m | 1.0 bn | 918.3 m | 1.1 bn | 1.1 bn | SEC (XBRL)· 26 May 2026verified |
| Property, plant & equipment, net | 115.1 m | 133.0 m | 177.1 m | 290.9 m | 307.1 m | 314.2 m | SEC (XBRL)· 26 May 2026verified |
| Goodwill | 192.0 m | 192.0 m | 196.6 m | 358.0 m | 358.0 m | 365.2 m | SEC (XBRL)· 26 May 2026verified |
| Intangibles (excl. goodwill) | 58.8 m | 51.3 m | 45.3 m | 76.4 m | 64.7 m | 55.8 m | SEC (XBRL)· 26 May 2026verified |
| Total assets | 917.9 m | 1.2 bn | 1.6 bn | 1.9 bn | 2.1 bn | 2.1 bn | SEC (XBRL)· 26 May 2026verified |
| Accounts payable | 57.2 m | 92.2 m | 44.7 m | 50.8 m | 65.1 m | 70.5 m | SEC (XBRL)· 26 May 2026verified |
| Short-term debt | — | — | — | — | 0 | 9.3 m | SEC (XBRL)· 26 May 2026verified |
| Long-term debt | 39.3 m | 12.4 m | 12.4 m | 24.7 m | 24.8 m | 14.4 m | SEC (XBRL)· 26 May 2026verified |
| Current liabilities | 263.6 m | 350.1 m | 248.9 m | 389.6 m | 451.3 m | 455.3 m | SEC (XBRL)· 26 May 2026verified |
| Equity | 568.6 m † | 825.1 m | 1.2 bn | 1.4 bn | 1.5 bn | 1.6 bn | SEC (XBRL)· 26 May 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 153.9 m | 224.5 m | 416.2 m | 222.7 m | 240.9 m | 303.9 m | SEC (XBRL)· 26 May 2026verified |
| Capex | 8.0 m | 32.0 m | 52.2 m | 52.9 m | 50.5 m | 34.1 m | SEC (XBRL)· 26 May 2026verified |
| Free cash flow | 145.9 m ≈ | 192.5 m ≈ | 364.0 m ≈ | 169.8 m ≈ | 190.3 m ≈ | 269.7 m ≈ | SEC (XBRL)· 26 May 2026derived |
| Investing cash flow | -56.8 m | -32.0 m | -61.2 m | -485.7 m | -46.2 m | -57.2 m | SEC (XBRL)· 26 May 2026verified |
| Financing cash flow | -47.8 m | -19.9 m | -37.0 m | 10.9 m | -73.0 m | -222.2 m | SEC (XBRL)· 26 May 2026verified |
| Share repurchases | — | — | 0 | 0 | 80.0 m | 200.0 m | SEC (XBRL)· 26 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 58 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 5.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality92
- Growth3
- Balance sheet100
- Returns57
- Valuation34
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 65.77 – 109.43 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)65.77 – 92.99 (Mid 76.40)WACC 9.3% · starting FCFF 235.8 m USD · terminal value share of EV 72%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 11.2%
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/E67.74 – 109.43 (Mid 91.80)5 companies used · median multiple 27.3x · quartiles 20.1x – 32.5xCVCO, FBIN, LEGH, TREX, UFPI
- Dividend discount (DDM)unavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 58/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 18.6% | 100 (on a fixed band) | 11% |
| Net margin · Quality | 6.8% | 70 (vs peers) | 7% |
| FCF conversion · Quality | 123.7% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 0.7% | 6 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -19.4% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | -2.5x | 100 (on a fixed band) | 11% |
| Interest coverage · Balance sheet | 29.7x | 100 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 2.7x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 27.7x | 50 (vs peers) | 11% |
| EV/EBITDA · Valuation | 15.8x | 0 (on a fixed band) | 11% |
| FCF yield · Valuation | 4.6% | 57 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 4.0% | 57 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 3/3 factors with a value
- Growth3/100 · 2/2 factors with a value
- Quality92/100 · 3/3 factors with a value
- Returns· partial57/100 · 1/2 factors with a value
- Valuation34/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Champion Homes, Inc. (SKY). Latest full fiscal year: 2026; data up to 2026-09-26.
Figures computed from the financial statements: revenue 2.7 bn USD in 2026; YoY growth 7.3%; net margin 6.8%; ROE 11.8%; net debt/EBITDA -2.5x.
The estimated value range is 66.75–101.21 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 84.10 USD, the price of 93.16 USD leaves a potential of -9.7% (value / price − 1) and a margin of safety of -10.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 58/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 18.6%
- Net margin: 6.8%
- FCF conversion: 123.7%
- Net debt / EBITDA: -2.5x
- Interest coverage: 29.7x
- Current ratio: 2.7x
What contradicts it
- Revenue CAGR 3Y: 0.7%
- EPS CAGR 3Y: -19.4%
- EV/EBITDA: 15.8x
Not assessed (insufficient data or a ratio without meaning): Payout ratio (FCF).
Versus the vertical median
Lumber and wood products (SIC 24xx) · same major group (2-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TREXTrex Company, Inc. | 5.6 bn | 32.5 | 17.3% | 13.9% | +2.0% | +60% / −20% |
| FBINFortune Brands Innovations, Inc. | 5.6 bn | 44.2 | 5.5% | 2.9% | −3.2% | −9% / −31% |
| LPXLouisiana-Pacific Corporation | 5.4 bn | 78.9 | 3.9% | 2.7% | −7.9% | −6% / +26% |
| SKYChampion Homes, Inc. | 5.0 bn | 27.7 | 11.8% | 6.8% | +7.3% | +27% / +65% |
| CVCOCavco Industries, Inc. | 4.9 bn | 27.3 | 16.6% | 7.7% | +11.4% | +8% / +128% |
| UFPIUfp Industries, Inc. | 4.5 bn | 20.1 | 7.5% | 3.6% | −5.0% | −11% / −24% |
| KOPKoppers Holdings Inc. | 749.7 m | — | -19.0% | -4.6% | −10.2% | +34% / −12% |
| LEGHLegacy Housing Corporation | 716.1 m | 11.3 | 11.4% | 30.1% | −10.7% | +51% / +34% |
| JELDJELD-WEN Holding, Inc. | 87.6 m | — | -454.4% | -5.3% | −14.9% | −62% / −94% |
| NWGLCL Workshop Group Ltd | 4.4 m | — | -64.0% | -40.5% | −15.4% | −98% / −100% |
| WFGWest Fraser Timber Co. Ltd. | — | — | -14.6% | -17.2% | −11.5% | +13% / −5% |
1- and 3-year price returns: for SKY from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 54.44 Total return -42% · Per year -42% | 96.43 Total return 4% · Per year 4% | 145.49 Total return 56% · Per year 56% |
| 3 years | 48.90 Total return -48% · Per year -19% | 97.83 Total return 5% · Per year 2% | 162.63 Total return 75% · Per year 20% |
| 5 years | 43.93 Total return -53% · Per year -14% | 99.25 Total return 7% · Per year 1% | 181.78 Total return 95% · Per year 14% |
- Exit P/E± 24.46
- Net margin± 17.12
- Annual revenue growth± 14.58
- Annual dilution± 1.44
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results).
In brief
Champion Homes is one of the largest producers of factory-built housing in North America, making manufactured homes, modular units and ADUs, and operating its own retail sales centers and transport services. The company is in focus because demand for affordable housing remains strong, and revenue rose in the first quarter of fiscal 2027 to net sales of 710.2 million USD 3.
SWOT
Strengths
- The company holds a leading position in several categories, has a broad factory network and integrates manufacturing, retail and transport 1.
- The balance sheet is solid, with substantial liquidity at the end of the first quarter of fiscal 2027 3.
- Nationally recognized brands and flexible design programs help retain customers 1.
Weaknesses
Opportunities
Risks
- Raw material costshigh
Price increases or shortages of lumber, steel and other materials could delay construction and reduce margins 1.
- Cyclicality of the housing markethigh
A decline in housing demand could reduce sales and lead to inventory write-downs 1.
- Tariffs and trade policymedium
Changes in tariffs could alter costs and supply chains, with effects that are hard to predict 1.
- Regulation and zoningmedium
Local restrictions on where factory-built homes can be placed could limit demand in some areas 1.
- Product liability for defectsmedium
Water intrusion problems in some homes have led to remediation costs, and further claims could arise 13.
Investment thesis
What would need to be true (bull case)
- If demand for affordable housing keeps growing, the company could benefit from its cost position and leading place in factory-built housing 1.
- Expanding the retail network and financing through Champion Financing could raise market share and revenue 2.
- A rising backlog at the end of the first quarter of fiscal 2027 suggests recent demand could support future sales 2.
What would break the thesis
- If material costs stay high, margins could keep compressing, as seen in the first quarter of fiscal 2027 3.
- The industry is sensitive to interest rates and economic conditions, and a weakening in demand could quickly affect results 1.
- Tariffs and trade policy remain uncertain, and their effect on costs and supply chains cannot be estimated precisely 1.
What to watch
- Trend in gross margin and material costsQ2 2027
- Integration of the Homes Direct acquisition and performance of new stores2027
- Backlog level and U.S. HUD-code shipmentsQ2 2027
- Effects of trade policy and tariffs on costsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results).
The business
Champion Homes, Inc., formerly Skyline Champion Corporation, produces factory-built housing in the United States and western Canada under brands such as Champion Homes, Genesis Homes, Skyline Homes and Regional Homes 1. In fiscal 2026 net sales were approximately 2.7 billion USD, and the company operated 46 factories and had about 9,300 employees 1. The model is vertically integrated, combining manufacturing with company-owned retail, construction services and the Star Fleet Trucking transport business 1.
The company describes its strategy in five pillars: agile operations, product innovation, expanded go-to-market channels, brand awareness, and cost discipline through automation and cloud platforms 1. Through Champion Financing, a joint venture with Triad Financial Services, it offers dealer floor plan and consumer financing 1.
Recent acquisitions point to growth in high-demand areas: the Iseman Homes acquisition in May 2025 and the Homes Direct acquisition, completed in August 2026, which adds 11 retail sales centers in the western United States 2. At the same time some plants were idled or closed, showing a concentration of production capacity 12.
Market context
The U.S. factory-built housing market is small relative to total new construction. HUD-code industry shipments were 100,380 units in fiscal 2026, compared with 105,206 a year earlier, and the company held a 22.5% wholesale share 1. The company estimates its share of the total U.S. housing market at about 3.0% in the first quarter of fiscal 2027 2.
According to the cited data, manufactured homes represent about 11% of all U.S. single-family starts, which suggests the segment still has room to grow 2. Demand is supported by demographic trends such as the growing population over 55 and first-time buyers 1.
Trends
- Demand for affordable housingtailwind
The need for new, affordable housing supports demand for factory-built homes, which can cost much less per square foot than conventional construction 1. If housing affordability stays weak, demand could remain solid.
- Trade policy and tariffsheadwind
Import tariffs could raise material costs and disrupt supply chains, which could reduce margins or demand 1. The effect is uncertain because trade policy remains dynamic 1.
- Expansion of direct retailmixed
Store acquisitions and the growing company-owned network, including Homes Direct, could strengthen sales and distribution but also add administrative costs 23. The effect depends on execution and future volumes.
Competitive position
The company competes with other factory-built home builders, with traditional site builders, and with resale homes and rental alternatives 1. Barriers to entry are low, so new competitors could enter relatively easily 1.
Some manufacturing competitors have captive retail and consumer finance and insurance operations, which may give them an advantage in selling 1. Champion describes itself as the largest independent publicly traded factory-built solutions provider in North America by revenue 1.
- Other national and regional home builders
Competitors named only generically in the sources, without specific identification.
- Traditional site-built home builders
Competition from site-built homes that can compete on price and volume.
- Resale home sellers
Existing homes that compete with new products, especially at moderate prices.
- Independent factory-built home dealers
Independent retailers that sell competitors' products in most areas.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report04 Nov 2026
- Current report03 Nov 2026Results of operations · Other events · Financial statements and exhibits
- Current report05 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report26 Aug 2026Departure or appointment of officers · Other events · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report04 Aug 2026Results of operations · Other events · Financial statements and exhibits
- Current report03 Aug 2026Shareholder vote
- Proxy statement18 Jun 2026
- Current report03 Jun 2026Departure or appointment of officers · Financial statements and exhibits
- Current report01 Jun 2026Departure or appointment of officers
Sources
- [1] Form 10-K, fiscal year ended 2026-03-28 · SEC / Champion Homes, Inc. · 26 May 2026
- [2] Form 10-Q, quarter ended 2026-06-27 · SEC / Champion Homes, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Champion Homes, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.