Company profile

Ticker
TMHC
Exchange
CEO
Sheryl Palmer
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
900907433

TMHC stock data

(
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Calendar

2 Nov 20
26 Jan 21
31 Dec 21

News

Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 549.06M 549.06M 549.06M 549.06M 549.06M 549.06M
Cash burn (monthly) 42.61M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 166.23M n/a n/a n/a n/a n/a
Cash remaining 382.83M n/a n/a n/a n/a n/a
Runway (months of cash) 9.0 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
21 Jan 21 Lyon William H Common Stock Sell Dispose S Yes 29.6011 16,000 473.62K 209,570
21 Jan 21 C. David Cone Common Stock Sell Dispose S No 30 34,153 1.02M 76,810
21 Jan 21 C. David Cone Common Stock Option exercise Aquire M No 11.3 34,153 385.93K 110,963
21 Jan 21 C. David Cone Employee Stock Option Common Stock Option exercise Dispose M No 11.3 34,153 385.93K 34,153
21 Jan 21 Sheryl Palmer Common Stock Sell Dispose S Yes 29.8596 50,000 1.49M 137,758
20 Jan 21 Sheryl Palmer Common Stock Sell Dispose S Yes 28.6371 50,000 1.43M 187,758
31 Dec 20 Anne L Mariucci Deferred Stock Units Common Stock Grant Aquire A No 0 1,681 0 13,018

Financial report summary

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Risks
  • A slowdown or severe downturn in the housing market could have additional adverse effects on our operating results and financial condition.
  • If homebuyers are not able to obtain suitable financing, our results of operations may decline.
  • Increases in interest rates, taxes (or changes in deductibility) or government fees could prevent potential customers from buying our homes and adversely affect our business or financial results.
  • If we experience shortages in labor supply, increased labor costs or labor disruptions, there could be delays or increased costs in developing our communities or building homes, which could adversely affect our operating results.
  • Higher cancellation rates of existing agreements of sale may have an adverse effect on our business.
  • The homebuilding and mortgage and title services industries are highly competitive and, if our competitors are more successful or offer better value to our customers, our business could decline.
  • Any increase in unemployment or underemployment may lead to an increase in the number of loan delinquencies and property repossessions and have an adverse impact on us.
  • Inflation or deflation could adversely affect our business and financial results.
  • Our quarterly operating results may fluctuate because of the seasonal nature of our business and other factors.
  • An inability to obtain additional performance, payment and completion surety bonds and letters of credit could limit our future growth.
  • Homebuilding is subject to home warranty and construction defect claims in the ordinary course of business that can be significant.
  • Our reliance on subcontractors can expose us to various liability risks.
  • Failure to manage land acquisitions, inventory and development and construction processes could result in significant cost overruns or errors in valuing sites.
  • If land and lots are not available at competitive prices, our sales and results of operations could be adversely affected.
  • If the market value of our land inventory decreases, our results of operations could be adversely affected by impairments and write-downs.
  • Government regulations and legal challenges may delay the start or completion of our communities, increase our expenses or limit our homebuilding or other activities, which could have a negative impact on our results of operations.
  • Regulations regarding environmental matters and climate change may affect us by substantially increasing our costs and exposing us to potential liability.
  • Our financial services businesses are subject to risks, including risks associated with our ability to sell mortgages we originate and to claims on loans sold to third parties.
  • Our financial services and title services businesses may be adversely affected by changes in governmental regulation.
  • The prices of our mortgages could be adversely affected if we lose any of our important commercial relationships.
  • We may not be able to use certain deferred tax assets, which may result in our having to pay substantial taxes.
  • Raw materials and building supply shortages and price fluctuations could delay or increase the cost of home construction and adversely affect our operating results.
  • We have significant operations in certain geographic areas, which subjects us to an increased risk of loss of revenue or decreases in the market value of our land and homes in these regions from factors which may affect any of these regions.
  • We participate in certain unconsolidated joint ventures, including those in which we do not have a controlling interest, where we may be adversely impacted by the failure of the unconsolidated joint venture or the other partners in the unconsolidated joint venture to fulfill their obligations.
  • Information technology failures and data security breaches could harm our business.
  • We may incur a variety of costs to engage in future growth or expansion of our operations or acquisitions or disposals of businesses, and the anticipated benefits may never be realized.
  • We have defined benefit and defined contribution pension schemes to which we may be required to increase our contributions to fund deficits.
  • A major health and safety incident relating to our business could be costly in terms of potential liabilities and reputational damage.
  • Ownership or occupation of land and the use of hazardous materials carries potential environmental risks and liabilities.
  • We may face substantial damages or be enjoined from pursuing important activities as a result of existing or future litigation, arbitration or other claims.
  • Negative publicity or poor relations with the residents of our communities could negatively impact sales, which could cause our revenues or results of operations to decline.
  • Failure to recruit, retain and develop highly skilled, competent people at all levels may have a material adverse effect on our financial condition or our standard of service.
  • Utility and resource shortages or rate fluctuations could have an adverse effect on our operations.
  • Constriction of the capital markets could limit our ability to access capital and increase our costs of capital.
  • Our substantial debt could adversely affect our business, financial condition or results of operations and prevent us from fulfilling our debt-related obligations.
  • Restrictive covenants in the agreements governing our Revolving Credit Facility and other indebtedness may restrict our ability to pursue our business strategies.
  • We may require additional capital in the future and may not be able to secure adequate funds on terms acceptable to us.
  • Failure to maintain effective internal control over financial reporting could have an adverse effect on our business, operating results and the trading price of our securities.
  • Provisions in our charter and by-laws and provisions of Delaware law may delay or prevent our acquisition by a third party, which might diminish the value of our Common Stock. Provisions in our debt agreements may also require an acquirer to refinance our outstanding indebtedness if a change of control occurs.
  • We may have difficulty integrating the William Lyon Homes business, and the anticipated benefits of the combined company may not be realized.
  • The combined company has a substantial amount of debt, which could adversely affect our business, financial condition or results of operations and prevent us from fulfilling our debt-related obligations.
  • Our future results will suffer if we do not effectively manage our expanded operations following the merger.
Management Discussion
  • In addition to the results reported in accordance with accounting principles generally accepted in the United States (“GAAP”), we have provided information in this Quarterly Report relating to: (i) adjusted income before income taxes, (ii) EBITDA and adjusted EBITDA, (iii) adjusted net income and adjusted earnings per share, (iv) net homebuilding debt to capitalization ratio, (v) adjusted home closings gross margin, and (vi) adjusted income before income taxes margin.
  • Adjusted income before income taxes is a non-GAAP financial measure that reflects our income before income taxes excluding the impact of purchase accounting adjustments related to the acquisition of William Lyon Homes (“WLH”), transaction expenses and loss on extinguishment of debt, as applicable. EBITDA and Adjusted EBITDA are non-GAAP financial measures that measure performance by adjusting net income before allocation to non-controlling interests to exclude interest income/(expense), net, amortization of capitalized interest, income taxes, depreciation and amortization (EBITDA), non-cash compensation expense, if any, purchase accounting adjustments relating to the acquisition of WLH, transaction expenses and loss on extinguishment of debt, as applicable. Adjusted net income and adjusted earnings per share are non-GAAP financial measures that reflect the net income available to the Company excluding the impact of purchase accounting adjustments relating to the acquisition of WLH, transaction expenses, loss on extinguishment of debt and the tax impact due to such adjustments. Net homebuilding debt to capitalization ratio is a non-GAAP financial measure we calculate by dividing (i) total debt, less unamortized debt issuance costs/premiums and mortgage warehouse borrowings, net of unrestricted cash and cash
  • equivalents, by (ii) total capitalization (the sum of net homebuilding debt and total stockholders’ equity). Adjusted home closings gross margin is a non-GAAP financial measure based on GAAP home closings gross margin (which is inclusive of capitalized interest), excluding purchase accounting adjustments relating to the acquisition of WLH.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: anytime, cement, combat, drywall, ease, employed, equivalent, ground, height, imposed, insulation, lifting, lumber, Notwithstanding, onset, outset, passed, prematurely, previoulsy, relationship, returning, steel, stemmed, strength, thereof, unavailability
Removed: amendment, certificate, flat, incorporation, reorganization, restatement