Financials Taylor Morrison Home Corporation

Equities

TMHC

US87724P1066

Homebuilding

Real-time Estimate Cboe BZX 15:56:32 02/05/2024 BST 5-day change 1st Jan Change
55.82 USD -0.42% Intraday chart for Taylor Morrison Home Corporation -0.96% +4.48%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,314 3,333 4,296 3,288 5,732 5,929 - -
Enterprise Value (EV) 1 3,928 5,729 6,766 5,046 6,942 6,822 6,631 6,376
P/E ratio 9.3 x 13.6 x 6.75 x 3.35 x 7.64 x 7.03 x 6.58 x 8.03 x
Yield - - - - - - - -
Capitalization / Revenue 0.49 x 0.54 x 0.57 x 0.4 x 0.77 x 0.77 x 0.72 x 0.79 x
EV / Revenue 0.82 x 0.93 x 0.9 x 0.61 x 0.94 x 0.89 x 0.81 x 0.85 x
EV / EBITDA 7.94 x 12.9 x 6.54 x 3.1 x 5.53 x 5.31 x 5.28 x 6.36 x
EV / FCF 10.8 x 5.28 x 19 x 4.68 x 8.98 x 8.18 x 10.1 x 16.5 x
FCF Yield 9.24% 18.9% 5.25% 21.3% 11.1% 12.2% 9.86% 6.07%
Price to Book 0.91 x 0.94 x 1.08 x 0.76 x 1.1 x 1.12 x 0.93 x -
Nbr of stocks (in thousands) 105,841 129,943 122,891 108,347 107,449 105,764 - -
Reference price 2 21.86 25.65 34.96 30.35 53.35 56.06 56.06 56.06
Announcement Date 05/02/20 10/02/21 08/02/22 15/02/23 14/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,762 6,129 7,501 8,225 7,418 7,688 8,225 7,508
EBITDA 1 494.9 445.6 1,035 1,628 1,256 1,284 1,257 1,003
EBIT 1 290.6 404.4 804.8 1,359 1,015 1,051 1,089 966
Operating Margin 6.1% 6.6% 10.73% 16.52% 13.68% 13.67% 13.24% 12.87%
Earnings before Tax (EBT) 1 322.3 324.1 863.1 1,393 1,018 1,131 1,168 958
Net income 1 254.7 243.4 663 1,053 768.9 856.3 898.4 742
Net margin 5.35% 3.97% 8.84% 12.8% 10.37% 11.14% 10.92% 9.88%
EPS 2 2.350 1.880 5.180 9.060 6.980 7.975 8.525 6.980
Free Cash Flow 1 363.1 1,086 355.4 1,077 772.7 834 653.7 387
FCF margin 7.62% 17.71% 4.74% 13.1% 10.42% 10.85% 7.95% 5.15%
FCF Conversion (EBITDA) 73.36% 243.63% 34.34% 66.18% 61.51% 64.94% 52.02% 38.58%
FCF Conversion (Net income) 142.59% 445.91% 53.61% 102.32% 100.5% 97.4% 72.76% 52.16%
Dividend per Share - - - - - - - -
Announcement Date 05/02/20 10/02/21 08/02/22 15/02/23 14/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 2,505 1,703 1,995 2,035 2,492 1,662 2,061 1,676 2,020 1,700 1,908 2,108 2,095 - -
EBITDA 1 398 276.4 409.8 443.7 486 284.3 354.8 275.5 338.6 281.1 323.2 325.1 382.4 274 346.1
EBIT 1 335.2 223.4 348.5 401.2 386 226.2 298.8 205.8 283.7 224.9 254.6 262.1 297.4 222.8 273.5
Operating Margin 13.38% 13.12% 17.47% 19.72% 15.49% 13.61% 14.5% 12.28% 14.05% 13.23% 13.34% 12.44% 14.2% - -
Earnings before Tax (EBT) 1 342.6 232.9 391.6 399.6 368.5 248.4 315.8 228.4 225.3 248.9 270.8 290.6 314.6 246.4 288.8
Net income 1 272.7 176.7 291 309.8 275.3 191.1 234.6 170.7 172.6 190.3 207 213.3 240.3 182.2 223.2
Net margin 10.89% 10.38% 14.59% 15.23% 11.05% 11.5% 11.39% 10.19% 8.54% 11.19% 10.85% 10.12% 11.47% - -
EPS 2 2.190 1.440 2.450 2.720 2.510 1.740 2.120 1.540 1.580 1.750 1.897 2.053 2.246 1.723 2.072
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 08/02/22 27/04/22 27/07/22 26/10/22 15/02/23 26/04/23 26/07/23 25/10/23 14/02/24 30/04/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,614 2,396 2,469 1,757 1,210 893 702 447
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.262 x 5.376 x 2.386 x 1.08 x 0.9632 x 0.6953 x 0.5585 x 0.4457 x
Free Cash Flow 1 363 1,086 355 1,077 773 834 654 387
ROE (net income / shareholders' equity) 10.3% 10.6% 17.5% 24.6% 15.4% 16% 14.9% -
ROA (Net income/ Total Assets) 4.85% 3.75% 8.05% 12.2% 8.97% 9.5% 9.38% -
Assets 1 5,255 6,492 8,233 8,599 8,571 9,014 9,582 -
Book Value Per Share 2 24.00 27.20 32.20 40.00 48.40 50.10 60.60 -
Cash Flow per Share - - - - - - - -
Capex 1 30.1 37.8 21.2 30.6 33.4 115 42.9 104
Capex / Sales 0.63% 0.62% 0.28% 0.37% 0.45% 1.49% 0.52% 1.39%
Announcement Date 05/02/20 10/02/21 08/02/22 15/02/23 14/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
56.06 USD
Average target price
64.58 USD
Spread / Average Target
+15.20%
Consensus
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