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Housebuilding company in the United States
LGI Homes is a Texas-based builder of new construction homes and housing developments, with its development projects mostly focused in the southwestern region of the United States. According to Builder Magazine, LGI Homes is the tenth largest home builder in the United States. 2013, the company announced the pricing of its initial public offering: 9,000,000 shares at $11 per share.3 It is headquartered in The Woodlands.1 Its shares trade on Nasdaq under the symbol LGIH.1Wikipedia text CC BY-SA 4.0
LGI Homes is a Texas-based builder of new construction homes and housing developments, with its development projects mostly focused in the southwestern region of the United States. According to Builder Magazine, LGI Homes is the tenth largest home builder in the United States. 2013, the company announced the pricing of its initial public offering: 9,000,000 shares at $11 per share. 2019, LGI Homes closed 7,690 homes, which was an 18.1% increase over 2018. Home sales revenue in 2019 was $1.8 billion, a 22.2% increase over 2018.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue101112139$1.7B in 2025−7% since 2019Operating income101112139$79.8M in 2025−65% since 2019Net income101112139$72.6M in 2025−59% since 2019
Revenue1415$516.0M in Q2 FY2026+61% since Q1 FY2026Net income1415$27.0M in Q2 FY2026+1149% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Home sales revenues
$1.7B
$2.2B
$2.4B
Cost of sales
$1.4B
$1.7B
$1.8B
Selling expenses
$162.1M
$199.9M
$191.6M
General and administrative
$111.6M
$121.2M
$117.3M
Cost of sales
$79.8M
$212.1M
$233.3M
General and administrative
-$18.7M
-$46.8M
-$28.5M
Operating income
$98.5M
$258.9M
$261.8M
Income Tax Expense (Benefit)
$25.9M
$62.8M
$62.5M
Net income before income taxes
$72.6M
$196.1M
$199.2M
Basic (in dollars per share)
$3.13
$8.33
$8.48
Diluted (in dollars per share)
$3.12
$8.30
$8.42
Basic (in shares)
23.2M shares
23.5M shares
23.5M shares
Diluted (in shares)
23.3M shares
23.6M shares
23.6M shares
No quarter-by-quarter statement was filed.
Total assets16101112139$3.9B in 2025+136% since 2019Total liabilities16101112139$1.8B in 2025+123% since 2019Shareholders’ equity1112139$2.1B in 2025+148% since 2019Cash101112139$61.2M in 2025+60% since 2019Long-term debt16101112139$1.7B in 2025+140% since 2019
Total assets1415$3.9B in Q2 FY2026−0% since Q1 FY2025Total liabilities1415$1.8B in Q2 FY2026−2% since Q1 FY2025Shareholders’ equity1415$2.1B in Q2 FY2026+2% since Q1 FY2025Cash1415$61.1M in Q2 FY2026−0% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash and cash equivalents
$61.2M
$53.2M
$49.0M
$32.0M
Accounts receivable
$32.5M
$28.7M
Real estate inventory
$3.5B
$3.4B
Pre-acquisition costs and deposits
$28.9M
$36.0M
Property and equipment, net
$107.1M
$57.0M
Other assets
$154.9M
$174.4M
Deferred tax assets, net
$9.9M
$9.3M
Goodwill
$12.0M
$12.0M
Total assets
$3.9B
$3.8B
Accounts payable
$16.2M
$33.3M
Accrued expenses and other liabilities
$158.0M
$207.3M
Notes payable
$1.7B
$1.5B
Total liabilities
$1.8B
$1.7B
COMMITMENTS AND CONTINGENCIES
$277.0K
$276.0K
Additional paid-in capital
$347.3M
$337.2M
Retained earnings
$2.2B
$2.1B
Additional paid-in capital
-$409.6M
-$386.0M
Total equity
$2.1B
$2.0B
$1.9B
$1.6B
Total liabilities and equity
$3.9B
$3.8B
Common stock, par value (in dollars per share)
$0.01
$0.01
Common stock, shares authorized (in shares)
250.0M shares
250.0M shares
Common stock, shares, issued (in shares)
27.8M shares
27.6M shares
Common stock, shares outstanding (in shares)
23.1M shares
23.4M shares
Treasury stock, common (in shares)
4.7M shares
4.2M shares
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash and cash equivalents
$61.2M
$53.2M
$49.0M
$32.0M
Accounts receivable
$32.5M
$28.7M
Real estate inventory
$3.5B
$3.4B
Pre-acquisition costs and deposits
$28.9M
$36.0M
Property and equipment, net
$107.1M
$57.0M
Other assets
$154.9M
$174.4M
Deferred tax assets, net
$9.9M
$9.3M
Goodwill
$12.0M
$12.0M
Total assets
$3.9B
$3.8B
Accounts payable
$16.2M
$33.3M
Accrued expenses and other liabilities
$158.0M
$207.3M
Notes payable
$1.7B
$1.5B
Total liabilities
$1.8B
$1.7B
COMMITMENTS AND CONTINGENCIES
$277.0K
$276.0K
Additional paid-in capital
$347.3M
$337.2M
Retained earnings
$2.2B
$2.1B
Additional paid-in capital
-$409.6M
-$386.0M
Total equity
$2.1B
$2.0B
$1.9B
$1.6B
Total liabilities and equity
$3.9B
$3.8B
Common stock, par value (in dollars per share)
$0.01
$0.01
Common stock, shares authorized (in shares)
250.0M shares
250.0M shares
Common stock, shares, issued (in shares)
27.8M shares
27.6M shares
Common stock, shares outstanding (in shares)
23.1M shares
23.4M shares
Treasury stock, common (in shares)
4.7M shares
4.2M shares
Cash from operations101112139-$140.0M in 2025+234% since 2019Capital spending9$924.0K in 2025−36% since 2023Free cash flow9-$140.9M in 2025+141% since 2023Share buybacks101112139$23.6M in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Net income
$72.6M
$196.1M
$199.2M
Equity in income of unconsolidated entities
-$1.9M
-$13.3M
-$12.8M
Distributions of earnings from unconsolidated entities
$4.8M
$14.4M
$14.8M
Depreciation and amortization
$4.3M
$3.1M
$2.4M
Gain on disposal of assets
-$2.6M
-$14.0M
-$1.6M
Compensation expense for equity awards
$6.0M
$10.5M
$8.9M
Inventory impairment
$6.7M
$0
$0
Deferred income taxes
-$633.0K
-$1.1M
-$2.0M
Accounts receivable
-$3.8M
$12.6M
-$16.2M
Real estate inventory
-$257.0M
-$365.9M
-$255.5M
Pre-acquisition costs and deposits
$7.1M
-$5.7M
-$5.3M
Other assets
$60.4M
$3.9M
$23.0M
Accounts payable
-$17.1M
$1.7M
$6.3M
Accrued expenses and other liabilities
-$18.8M
$14.1M
-$18.3M
Net cash used in operating activities
-$140.0M
-$143.7M
-$57.0M
Purchases of property and equipment
-$924.0K
-$2.0M
-$1.4M
Proceeds from sale of property and equipment
$24.7M
$25.4M
$0
Investment in unconsolidated entities
-$4.5M
-$7.9M
-$17.9M
Return of capital from unconsolidated entities
$8.6M
$0
$5.7M
Net cash provided by (used in) investing activities
$27.9M
$15.6M
-$13.6M
Proceeds from notes payable
$668.7M
$992.3M
$887.3M
Payments on notes payable
-$493.0M
-$760.0M
-$746.0M
Proceeds from financing arrangements
$0
$0
$50.4M
Payments on financing arrangements
$29.9M
$67.8M
$95.0M
Loan issuance costs
-$5.6M
-$6.0M
-$14.3M
Proceeds from sale of stock, net of offering expenses
LGI Homes sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
FMR LLCFiled SC 13G/A on LGI Homes, latest Nov 12, 2024 (3 filings since Feb 9, 2023)
BlackRockFiled SC 13G/A on LGI Homes, latest Jan 23, 2024 (5 filings since Jan 26, 2022)
LGI HomesThe Woodlands, Texas, United States
LGI REALTY Subsidiary · California, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What LGI Homes reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We lease approximately 26,000 square feet in The Woodlands, Texas for our corporate headquarters; this lease expires in 2028. In addition, to adequately meet the needs of our operations, we lease offices in Arizona, California, Colorado, Florida, Georgia, Maryland, Minnesota, Nevada, North Carolina, Tennessee, Texas, Utah and Washington. See “Business—Land Acquisition Policies and Development” for a summary of the other property which we owned or controlled as of December 31, 2025.
LGI Homes was founded in 2003 in The Woodlands, Texas by Thomas Lipar and began building in the Houston area. LGI Homes focuses on entry-level housing in the vicinity of major metropolitan areas. Its primary customer is the first-time homebuyer. The company saw sales trend upward from 2006 to 2008, when it was the only builder in the Builder Magazine Top-200 builders to generate unit sales and see revenue growth across that period. The company's growth slowed in 2009, when LGI Homes experienced a 9% drop in home sales, year-over-year.
In 2013, the company announced that they would be expanding to the southeast, and that plans to develop new home communities in Florida and Georgia were in place. LGI Homes began publicly trading shares of their company on 7 November 2013. The share price of the initial 9 million shares rose from $11 per share to $12.26 by market closing, an increase of 11%. The company planned to use the $90 million they raised to grow their company particularly in Texas.
In October 2014, the company purchased Oakmont Home Builders and expanded into North Carolina, South Carolina.
In 2015, they expanded into Colorado, and in 2018 LGI Homes acquired the assets of Wynn Homes. This acquisition earned the homebuilder over 200 under-construction homes and approximately 4,000 lots.
As of 25 February 2020, LGI Homes has operations in 31 markets in 18 states.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
209 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 39 major events, 104 insider forms, 22 large holders, 24 other. The latest 20:
28 open-market trades by officers, directors and large owners since October 2021: 2 buys and 26 sales. Grants, option exercises and gifts are left out.
FMR LLCSC 13G/A, 3 filings Feb 9, 2023 to Nov 12, 202455
BlackRockSC 13G/A, 5 filings Jan 26, 2022 to Jan 23, 202456
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Feb 20, 2026 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks LGI Homes names in Item 1A of its 10-K filed Feb 20, 2026: 54 risks under these headings, as written.17
Industry and Economic Risks
Higher mortgage interest rates, tightening of mortgage lending standards and mortgage financing requirements, and untimely or incomplete mortgage loan originations for our homebuyers, could adversely affect the availability of mortgage loans for potential purchasers of our homes and thereby materially and adversely affect our business, prospects, liquidity, financial condition, and results of operations.
A significant downturn in our housing markets or in the homebuilding industry generally may materially and adversely affect our business and financial condition.
The homebuilding industry is highly competitive and, if our competitors are more successful or offer better value to our customers, our business could decline.
Regional factors affecting the homebuilding industry in our current markets could materially and adversely affect us.
Our industry is cyclical and adverse changes in general and local economic conditions could reduce the demand for homes and, as a result, could have a material adverse effect on us.
Increases in cancellations of purchase contracts could have an adverse effect on our business.
Any limitation on, or reduction or elimination of, tax benefits associated with homeownership would have an adverse effect upon the demand for homes, which could be material to our business.
Fluctuations in real estate values may require us to write-down the book value of our real estate assets.
If the market value of our land inventory decreases, our results of operations could be adversely affected by impairments and write-downs.
Interest rate changes may adversely affect us.
Difficulties with appraisal valuations in relation to the proposed sales price of our homes could force us to reduce the price of our homes for sale.
The other 43 risks
Any future government shutdowns or slowdowns may materially adversely affect our business or financial results.
Natural disasters, severe weather and adverse geological conditions may increase costs, cause project delays and reduce consumer demand for housing, all of which could materially and adversely affect us.
New and existing laws and regulations or other governmental actions may increase our expenses, limit the number of homes that we can build or delay completion of our projects.
We are subject to environmental, health and safety laws and regulations, which may increase our costs, result in liabilities, limit the areas in which we can build homes and/or delay completion of our projects.
Environmental laws and regulations relating to climate change and energy can have an adverse impact on our activities, operations and profitability and on the availability and price of certain raw materials, such as lumber, steel, and concrete.
Ownership, leasing or occupation of land and the use of hazardous materials carries potential environmental risks and liabilities.
Inflation could adversely affect our business and financial results.
Changes in tax law could adversely affect our business.
Because of the seasonal nature of our business, our quarterly operating results fluctuate.
Difficulty in obtaining sufficient capital could result in an inability to acquire land for our developments or increased costs and delays in the completion of development projects, increase home construction costs or delay home construction entirely.
Operational and Construction Risks
The long-term sustainability and growth in our home closings depends in part upon our ability to acquire finished lots and land parcels suitable for residential homebuilding at reasonable prices.
Risks associated with our land and lot inventories could adversely affect our business or financial results.
Labor and raw material shortages, price fluctuations and supply chain constraints could delay or increase the cost of home construction or land development, which could materially and adversely affect us.
Our business and results of operations are dependent on the availability, skill and performance of subcontractors.
If we are unable to develop our communities successfully or within expected time-frames, our results of operations could be adversely affected.
We are subject to warranty and liability claims arising in the ordinary course of business that can be significant.
We could be adversely affected by efforts to impose joint employer liability on us for labor law violations committed by our subcontractors.
We may be unable to obtain suitable bonding for the development of our housing projects.
Poor relations with the residents of our communities could negatively impact sales, which could cause our revenues or results of operations to decline.
A major health and safety incident relating to our business could be costly in terms of potential liabilities and reputational damage.
Any joint venture investments that we make could be adversely affected by our lack of sole decision making authority, our reliance on the financial condition of our joint venture partners and disputes between us and our joint venture partners.
Our business could be materially and adversely disrupted by an epidemic, pandemic or similar public health threat.
Strategic and Financial Risks
We cannot make any assurances that our growth or expansion strategies will be successful or not expose us to additional risks.
We may incur a variety of costs to engage in future growth or expansion of our operations, including through add-on acquisitions, and the anticipated benefits may never be realized.
We are a holding company, and we are accordingly dependent upon distributions from our subsidiaries to service our debt and pay dividends, if any, taxes and other expenses.
Organization and Structure Risks
We depend on key management personnel and other experienced employees.
Termination of the employment agreement with our Chief Executive Officer could be costly and prevent a change in control of our company.
We expect to use leverage in executing our business strategy, which may adversely affect the return on our assets.
Our current financing arrangements contain, and our future financing arrangements likely will contain, restrictive provisions, performance obligations and penalties.
Interest expense on debt we incur may limit our cash available to fund our growth strategies.
If we fail to implement and maintain an effective system of internal controls, we may not be able to accurately determine our financial results or prevent fraud. As a result, investors could lose confidence in our financial results, which could materially and adversely affect us.
We may change our operational policies, investment guidelines and our business and growth strategies without stockholder consent, which may subject us to different and more significant risks in the future.
We participate in certain unconsolidated entities where we may be adversely impacted by the failure of the limited partnership or joint venture or its participants to fulfill their obligations.
General Risk Factors
Failure to comply with laws and regulations may adversely affect us.
We are subject to litigation, arbitration or other claims, which could materially and adversely affect us.
Negative publicity could adversely affect our reputation as well as our business, financial results and stock price.
Information system failures, cyber incidents or breaches in security could adversely affect us.
We may suffer uninsured losses or material losses in excess of insurance limits.
Acts of war or terrorism may seriously harm our business.
Changes in accounting rules, assumptions and/or judgments could materially and adversely affect us.
Changing sentiments with respect to sustainability matters may impact our business, financial results or stock price.
Access to financing sources may not be available on favorable terms, or at all, which could adversely affect our ability to maximize our returns.
Cautionary Statement about Forward-Looking Statements
Legal proceedings
In the ordinary course of doing business, we are subject to claims or proceedings from time to time relating to the purchase, development, and sale of real estate and homes and other aspects of our homebuilding operations. Management believes that these claims include usual obligations incurred by real estate developers and residential homebuilders in the normal course of business. In the opinion of management, these matters will not have a material effect on our consolidated financial position, results of operations or cash flows.
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