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Beazer Homes
(NYSE:BZH)
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Rating:52Neutral
Price Target:
$34.00
▲(2.44% Upside)
Action:Reiterated
Date:09/19/26
The score is held back primarily by weakening financial performance—operating losses and negative operating/free cash flow in the latest TTM period—along with higher leverage and reduced returns. Technicals are a positive offset with the stock above major moving averages and moderate momentum. Corporate events are supportive due to the announced all-cash acquisition and related financing/indenture actions, while valuation is less supportive given the negative P/E and no dividend yield data.
Positive Factors
Merger-driven scale and synergies
The proposed combination could materially expand Beazer’s operating scale, geographic reach, and community base while generating anticipated annual cost synergies. If completed, broader market coverage and integrated mortgage and title services may strengthen competitiveness and improve the platform’s earnings capacity.
Negative Factors
Negative cash generation
Negative operating and free cash flow indicate that the latest earnings profile is not translating into internally generated liquidity. In a working-capital-intensive homebuilding model, a prolonged reversal can constrain land investment, debt reduction, and the company’s ability to absorb weaker conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Merger-driven scale and synergies
The proposed combination could materially expand Beazer’s operating scale, geographic reach, and community base while generating anticipated annual cost synergies. If completed, broader market coverage and integrated mortgage and title services may strengthen competitiveness and improve the platform’s earnings capacity.
Read all positive factors
Beazer Homes Key Performance Indicators (KPIs)
Any
Gross Profit by Segment
Shows profit after direct costs for each segment, revealing which parts of the business deliver the strongest margins, where land, materials, or labor pressures are eroding profitability, and how pricing or mix changes affect earnings.
Shows profit after direct costs for each segment, revealing which parts of the business deliver the strongest margins, where land, materials, or labor pressures are eroding profitability, and how pricing or mix changes affect earnings.
Data provided by:
The Fly
The FlyBeazer Homes (BZH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$891.90M
Dividend YieldN/A
Average Volume (3M)725.48K
Price to Earnings (P/E)―
Beta (1Y)1.03
Revenue Growth-12.75%
EPS Growth-112.80%
CountryUS
Employees1,018
SectorConsumer Cyclical
Sector Strength84
IndustryResidential Construction
Share Statistics
EPS (TTM)-0.29
Shares Outstanding26,679,623
10 Day Avg. Volume863,592
30 Day Avg. Volume725,480
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)0.58
Price to Sales (P/S)0.31
P/FCF Ratio209.93
Enterprise Value/Market Cap2.30
Enterprise Value/Revenue0.99
Enterprise Value/Gross Profit8.00
Enterprise Value/Ebitda-135.52
Forecast
1Y Price Target
$33.50Price Target Upside0.93% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)1.41
Revenue Forecast (FY)$2.40B
Beazer Homes Business Overview & Revenue Model
Company Description
Beazer Homes USA, Inc. operates as a residential property developer and builder across the United States. The company is responsible for the planning, construction, and marketing of both detached and attached dwellings, which are sold under its di...
How the Company Makes Money
Beazer Homes primarily makes money by selling newly constructed homes to individual buyers. Revenue is recognized from homebuilding operations when home sales close, with the sale price reflecting the base home plus any buyer-selected upgrades and...
Beazer Homes Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
The call presented a cautiously optimistic operational picture: management reported clear progress on mix (to‑be‑built sales), rising ASPs/backlog, margin momentum, strong liquidity, and an active capital return program (notably share buybacks). However, material macro headwinds—higher mortgage rates, surging energy costs, and weaker seasonal traffic—have reduced confidence in achieving the company’s earlier EBITDA growth plan and constrained near‑term profitability (Q2 adjusted EBITDA was only $2.6M and the company posted a small GAAP loss). Overall, positives around product differentiation, balance sheet strength, and capital allocation outweigh the near‑term demand and margin risks, but the outlook is cautious and dependent on H2 market trends.Positive Updates
Strong Sales and Pace Recovery
Sold 1,048 homes in Q2 with a sales pace of 2.1 sales per community per month (pace increased Jan→Feb and plateaued in March). Company expects to sell >1,000 homes in Q3 (up nearly 20% vs prior-year Q3) with a similar pace to Q2.
Negative Updates
Macroeconomic Headwinds and Reduced Confidence in Full‑Year EBITDA Growth
Management cited higher mortgage rates and surging energy costs that reduced consumer sentiment. Because of these headwinds, the company reduced its earlier likelihood of achieving full‑year EBITDA growth (previous target required >2.5 pace in H2 and 300 bps margin expansion).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Sales and Pace Recovery
Sold 1,048 homes in Q2 with a sales pace of 2.1 sales per community per month (pace increased Jan→Feb and plateaued in March). Company expects to sell >1,000 homes in Q3 (up nearly 20% vs prior-year Q3) with a similar pace to Q2.
Read all positive updates
Company Guidance
Beazer guided that in Q3 it expects to sell more than 1,000 homes (≈+20% YoY) with a sales pace roughly in line with Q2 (~2.1 sales per community per month), finish with about 170 active communities (flat to slightly up), close roughly 900 homes at an ASP of $535,000–$540,000, and deliver adjusted homebuilding gross margins up >50 basis points sequentially while SG&A dollars are roughly flat YoY; it expects about $30 million of land sale revenue in Q3 (with $150 million targeted for the full year), adjusted EBITDA of $5–10 million for Q3, interest amortized at ~3% of homebuilding revenue, and is not providing quarterly tax or EPS guidance due to interim tax variability. For the full year it expects energy‑efficiency tax credits to drive a net tax benefit >$10 million and minimal cash taxes for several years, plans to complete a $72 million repurchase authorization (having executed $30 million in Q2 and repurchased >1 million shares at ~60% of book, representing nearly 20% of shares bought since early FY2025 upon completion), is maintaining a lot pipeline ~60% option‑controlled, has total liquidity ≈$400 million (≈$116M unrestricted cash and $285M revolver availability after upsizing the revolver by $160M to $525M and extending maturity to March 2030), has no maturities until October 2027, and reiterated longer‑term targets of >200 active communities and deleveraging to the low‑30% range by the end of FY2027 while growing book value per share (BVPS ≈$42 weighted‑average, ≈$43 period‑end) toward the fifties.Beazer Homes Financial Statement Overview
Summary
Income Statement
41
Neutral
Balance Sheet
48
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.08B | 2.37B | 2.33B | 2.21B | 2.32B | 2.14B |
| Gross Profit | 256.48M | 337.51M | 424.29M | 442.69M | 537.51M | 404.25M |
| EBITDA | -15.13M | 60.02M | 173.95M | 263.33M | 287.35M | 247.77M |
| Net Income | -7.72M | 45.59M | 140.18M | 158.61M | 220.70M | 122.02M |
Balance Sheet | ||||||
| Total Assets | 2.90B | 2.61B | 2.59B | 2.41B | 2.25B | 2.08B |
| Cash, Cash Equivalents and Short-Term Investments | 124.64M | 214.71M | 203.91M | 345.59M | 214.59M | 246.72M |
| Total Debt | 1.44B | 1.06B | 1.05B | 997.00M | 994.65M | 1.07B |
| Total Liabilities | 1.76B | 1.36B | 1.36B | 1.31B | 1.31B | 1.35B |
| Stockholders Equity | 1.15B | 1.25B | 1.23B | 1.10B | 939.29M | 724.88M |
Cash Flow | ||||||
| Free Cash Flow | -153.34M | 3.48M | -159.90M | 157.72M | 66.03M | 17.01M |
| Operating Cash Flow | 1.44M | 31.98M | -137.54M | 178.06M | 81.07M | 31.66M |
| Investing Cash Flow | -12.49M | -19.66M | -30.01M | -29.67M | -14.71M | -14.19M |
| Financing Cash Flow | 27.68M | -36.36M | 23.88M | -13.93M | -88.68M | -85.85M |
Beazer Homes Technical Analysis
Positive
33.19
Price Trends
33.28
Positive
30.99
Positive
26.68
Positive
Market Momentum
0.09
Positive
63.96
Neutral
63.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BZH, the sentiment is Positive. The current price of 33.19 is below the 20-day moving average (MA) of 33.37, below the 50-day MA of 33.28, and above the 200-day MA of 26.68, indicating a bullish trend. The MACD of 0.09 indicates Positive momentum. The RSI at 63.96 is Neutral, neither overbought nor oversold. The STOCH value of 63.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BZH.
Beazer Homes Risk Analysis
Beazer Homes disclosed 26 risk factors in its most recent earnings report. Beazer Homes reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Beazer Homes Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $1.02B | 15.37 | 3.15% | ― | -16.52% | -57.00% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $1.56B | 12.02 | 5.21% | 2.27% | -8.37% | -45.09% | |
53 Neutral | $495.58M | 13.59 | 7.82% | ― | -1.19% | -55.97% | |
52 Neutral | $891.90M | -114.37 | -0.65% | ― | -12.75% | -112.80% | |
51 Neutral | $2.53B | 11.47 | 5.93% | 2.40% | -20.80% | -50.30% | |
50 Neutral | $808.48M | 5.65 | 9.41% | ― | -12.20% | -54.76% |
* Consumer Cyclical Sector Average
BZH
Beazer Homes
33.43
10.78
47.59%
KBH
KB Home
41.63
-18.58
-30.86%
LGIH
LGI Homes
44.00
-2.35
-5.07%
CCS
Century Communities
55.04
-4.46
-7.50%
DFH
Dream Finders Homes
8.93
-15.24
-63.05%
SDHC
Smith Douglas Homes Corp. Class A
9.75
-6.43
-39.74%
Beazer Homes Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Beazer Homes Updates Notes Terms Ahead of Merger
Positive
Sep 18, 2026
On September 18, 2026, Beazer Homes USA, Inc., its subsidiary guarantors, and Regions Bank as trustee executed supplemental indentures covering Beazer’s 7.500% senior notes due 2031 and 8.000% senior notes due 2032, after obtaining required ...
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsPrivate Placements and Financing
Beazer Homes Agrees to All-Cash Acquisition by Dream Finders
Positive
Aug 7, 2026
On August 6, 2026, Beazer Homes agreed to be acquired by Dream Finders Homes in an all-cash merger that values Beazer at an enterprise value of about $2.2 billion, with shareholders set to receive $33.50 per share and all equity awards largely cas...
Business Operations and StrategyPrivate Placements and Financing
Beazer Homes Completes $400 Million Senior Notes Offering
Neutral
Jun 23, 2026
On June 23, 2026, Beazer Homes USA, Inc. completed a private offering of $400 million in 8.000% senior unsecured notes due 2032, sold to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S. The net proceeds ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.