Hovnanian Enterprises Inc. (HOVNP) intrinsic value & 10-year financials
Hovnanian Enterprises Inc. (HOVNP) has a Graham intrinsic value of $246.79 per share. Over the last 10 fiscal years revenue grew 0.9% a year to $3.0B, with an average return on invested capital of 6.2%.
- Graham intrinsic value
- $246.79
- Revenue (FY2025)
- $3.0B
- Revenue growth (10-yr CAGR)
- 0.9%
- ROIC (10-yr avg)
- 6.2%
- Free cash flow (FY2025)
- $166.2M
HOVNP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.0B | $63.9M | $7.43 | $166.2M | — | 3.8% |
| FY2024 | $3.0B | $242.0M | $31.79 | $5.8M | — | 14.6% |
| FY2023 | $2.8B | $205.9M | $26.88 | $416.5M | — | 13.1% |
| FY2022 | $2.9B | $225.5M | $29.00 | $76.9M | — | 15.4% |
| FY2021 | $2.8B | $607.8M | $85.86 | $204.3M | — | 50.9% |
| FY2020 | $2.3B | $50.9M | $7.03 | $289.4M | — | 5.6% |
| FY2019 | $2.0B | -$42.1M | -$7.06 | -$253.1M | — | -5.2% |
| FY2018 | $2.0B | $4.5M | $0.03 | -$72.0M | — | 0.6% |
| FY2017 | $2.5B | -$332.2M | -$2.25 | $291.1M | — | -36.7% |
| FY2016 | $2.8B | -$2.8M | -$0.00 | $379.7M | — | -0.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
HOVNANIAN ENTERPRISES INC has demonstrated mature, steady growth, with revenue compounding at 0.9% annually over the past decade.
HOVNANIAN ENTERPRISES INC has historically struggled to out-earn its cost of capital, averaging just 6.2% ROIC.
Over the decade, HOVNANIAN ENTERPRISES INC shows that management has aggressively returned capital to shareholders by retiring 95.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, HOVNANIAN ENTERPRISES INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $246.79 per share.