Legacy Housing Corporation Common Stock (TX) (LEGH)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for understandable businesses selling below intrinsic value with a margin of safety. Legacy Housing builds manufactured homes and tiny houses in the southern United States, and it also finances dealers and consumers. That financing arm can create customer stickiness, but it also means results ride the housing and credit cycle. FairStock classifies it as a cyclical residential construction business, which fits. The balance sheet is a genuine strength. Debt to equity is 0.00, and FairStock's Altman Z-Score is 8.72, a very safe reading. Free cash flow over the trailing twelve months was $38.6M, a 5.9% yield on the $651.3M market cap at the 2026-10-13 close. The filed fiscal Q2 2026, the quarter ended 2026-06-30, showed revenue of $53.8M, net income of $23.5M, and diluted EPS of $0.99, up from fiscal Q2 2025's $38.4M revenue, $14.7M net income, and $0.60 EPS. That quarterly rebound is encouraging. Still, the longer record is uneven. Fiscal 2025 revenue was $116.9M and net income $41.8M versus fiscal 2024 revenue of $129.3M and net income of $61.6M, and fiscal 2023 revenue of $145.1M. FairStock's return on equity is only 9.53%. At $27.39, the FairStock P/E is 12.74 and P/B is 1.16. The Graham Number of $33.82 implies a 19.03% margin of safety, and the Piotroski F-Score is 6/9. I would call this a financially sturdy but cyclical operator, priced modestly below my rough value estimate but not a wide-moat bargain. The key question is whether the recent quarterly improvement is durable or merely a bounce.

In plain English: Legacy Housing builds and sells manufactured homes and tiny houses, mainly in the southern United States, and also helps finance them. The business is profitable and carries no debt, but sales and profits have cooled from earlier years. At the recent stock price, the shares look modestly cheap to fair compared with the company's earnings and assets, though the business remains tied to the housing cycle.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer