Cavco Industries, Inc. Overview
Pro stress-test →Cavco Industries, headquartered in Phoenix, Arizona, designs and produces factory-built housing products and is one of the largest producers of manufactured and modular homes in the United States. The company reported net revenue growth of 11.3% year-over-year driven by the acquisition of American Homestar and increased average revenue per home sold. Beyond factory-built homes, Cavco is also a leading producer of park model RVs, vacation cabins and factory-built commercial structures, and operates financial services through CountryPlace Mortgage and insurance operations through Standard Casualty.
Strategic Profile
Pro stress-test →Cavco completed the $190 million acquisition of American Homestar in September 2025, bringing two manufacturing facilities and nineteen retail locations, strengthening its position as one of the largest producers of manufactured and modular homes in the United States. The integration is expected to yield over $10 million in annual synergies including purchasing, labor, and SG&A cost savings. Management notes the company's flexible business model positions it well to adjust to market uncertainties.
Competitive Landscape
Pro stress-test →Cavco operates in the factory-built housing market under brands including Cavco Homes, Fleetwood Homes, and Palm Harbor Homes, competing with other manufacturers of modular homes, park model homes, and vacation cabins. The company trades at a 19.7x P/E multiple against peers near 11x, reflecting premium valuation for its scale and growth profile. Primary competitors include other publicly-traded manufactured housing producers operating in a consolidated, capital-intensive industry.
Industry Context
Cavco Industries, Inc. operates in Factory-Built Housing / Manufactured Homes.
Key facts
Founded: 1965 · Headquarters: Phoenix, US · Revenue: $2.14B · Market cap: $4.7B