Beazer Homes USA, Inc. has recently released its 10-K report, providing a comprehensive look at its financial performance and operations. Beazer Homes operates as a homebuilder in the United States, designing, constructing, and selling single-family and multi-family homes under various names such as Beazer Homes, Gatherings, and Choice Plans. The company also sells its homes through commissioned new home sales counselors and independent brokers in several states. Founded in 1985 and headquartered in Atlanta, Georgia, Beazer Homes USA, Inc. has outlined its business operations and financial results in the 10-K report.
In its 10-K report, Beazer Homes USA, Inc. discussed the market conditions it faced in fiscal 2025, noting challenging operating environments driven by affordability concerns, elevated mortgage rates, weak consumer sentiment, and uncertainties in the macroeconomic environment. Despite these challenges, the company offered discounts and incentives to stimulate sales and turn inventory, while maintaining a disciplined approach to operations and capital allocation.
The report highlights the company's multi-year goals, including reaching over 200 active communities by the end of fiscal 2027, reducing its net debt to net capitalization ratio to the low 30% range by the end of fiscal 2027, and achieving a double-digit compound annual growth rate in book value per share from the end of fiscal 2024 through fiscal 2027.
Beazer Homes USA, Inc. reported an ending active community count of 169 as of September 30, 2025, marking a 4.3% increase from the prior year. The company's total debt to total capitalization ratio and net debt to net capitalization ratio were 45.2% and 39.5%, respectively, as of September 30, 2025, reflecting a reduction despite the difficult environment. The company's book value per share as of September 30, 2025, was $42.57, representing a 6.3% increase from the prior year.
The report also provided an overview of the company's performance against key operating and financial metrics during fiscal 2025, including a decrease in orders per community per month and net new orders, as well as a decline in homebuilding gross margin. Beazer Homes USA, Inc. also discussed the seasonal and quarterly variability in its homebuilding operating cycle, acknowledging the potential impact of factors such as market volatility and changes in mortgage interest rates.
The 10-K report also included a detailed summary of certain key income statement metrics for the fiscal years ended September 30, as well as a reconciliation of net income to adjusted EBITDA and total debt to total capitalization ratio to net debt to net capitalization ratio.
Following these announcements, the company's shares moved -2.11%, and are now trading at a price of $21.32. For the full picture, make sure to review BEAZER HOMES U's 10-K report.
