Beazer Homes USA (BZH)
NYSE:BZH
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Beazer Homes
(NYSE:BZH)
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Rating:48Neutral
Price Target:
$18.00
▼(-18.66% Downside)
Action:ReiteratedDate:05/05/26
The score is held down primarily by weakened financial performance—especially negative operating/free cash flow and compressed margins—plus a bearish technical trend (price below all major moving averages with negative MACD). The earnings call provides partial offset via improved liquidity, active buybacks, and guidance for sequential margin/ASP improvement, but management’s cautious outlook and modest EBITDA guidance limit the upside. Valuation inputs are also weak due to a negative P/E and no dividend yield provided.
Positive Factors
Liquidity and Financial Flexibility
A materially larger revolver and roughly $400M total liquidity provide durable financial flexibility to fund community growth, absorb near‑term cash flow volatility, and avoid forced asset sales. This buffer supports execution of multi‑year targets and buybacks without immediate refinancing risk.
Negative Factors
Negative Operating and Free Cash Flow
Persistent negative operating and free cash flow erodes internal funding capacity and raises earnings quality concerns. Over the next several quarters this reduces flexibility for land investment and buybacks absent recurring asset sales or revolver usage, increasing reliance on external liquidity.
Read all positive and negative factors
Positive Factors
Negative Factors
Liquidity and Financial Flexibility
A materially larger revolver and roughly $400M total liquidity provide durable financial flexibility to fund community growth, absorb near‑term cash flow volatility, and avoid forced asset sales. This buffer supports execution of multi‑year targets and buybacks without immediate refinancing risk.
Read all positive factors
Beazer Homes (BZH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$492.83M
Dividend YieldN/A
Average Volume (3M)404.77K
Price to Earnings (P/E)―
Beta (1Y)1.22
Revenue Growth-13.36%
EPS Growth-104.38%
CountryUS
Employees1,158
SectorConsumer Cyclical
Sector Strength84
IndustryResidential Construction
Share Statistics
EPS (TTM)-0.14
Shares Outstanding27,333,824
10 Day Avg. Volume454,184
30 Day Avg. Volume404,769
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 Cap3.40
Enterprise Value/Revenue0.79
Enterprise Value/Gross Profit6.13
Enterprise Value/Ebitda1.39K
Forecast
1Y Price Target
$26.00Price Target Upside17.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.32
Revenue Forecast (FY)$2.45B
Beazer Homes Business Overview & Revenue Model
Company Description
Beazer Homes USA, Inc. operates as a homebuilder in the United States. It designs, constructs, and sells single-family and multi-family homes under the Beazer Homes, Gatherings, and Choice Plans names. The company sells its homes through commissio...
How the Company Makes Money
Beazer Homes makes money primarily by selling newly constructed homes to individual homebuyers. Its core revenue stream is homebuilding revenue recognized at the time of closing, which reflects the contracted sales price of the home and typically ...
Beazer Homes Key Performance Indicators (KPIs)
Beazer Homes Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 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
44
Neutral
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.11B | 2.37B | 2.33B | 2.21B | 2.32B | 2.14B |
| Gross Profit | 273.30M | 337.51M | 424.29M | 442.69M | 537.51M | 404.25M |
| EBITDA | 1.21M | 60.02M | 157.89M | 189.45M | 285.85M | 160.84M |
| Net Income | -3.82M | 45.59M | 140.18M | 158.61M | 220.70M | 122.02M |
Balance Sheet | ||||||
| Total Assets | 2.76B | 2.61B | 2.59B | 2.41B | 2.25B | 2.08B |
| Cash, Cash Equivalents and Short-Term Investments | 116.44M | 214.71M | 203.91M | 345.59M | 214.59M | 246.72M |
| Total Debt | 1.25B | 1.06B | 1.05B | 997.00M | 994.65M | 1.07B |
| Total Liabilities | 1.59B | 1.36B | 1.36B | 1.31B | 1.31B | 1.35B |
| Stockholders Equity | 1.17B | 1.25B | 1.23B | 1.10B | 939.29M | 724.88M |
Cash Flow | ||||||
| Free Cash Flow | -69.67M | 3.48M | -159.90M | 157.72M | 66.03M | 17.01M |
| Operating Cash Flow | 86.06M | 31.98M | -137.54M | 178.06M | 81.07M | 31.66M |
| Investing Cash Flow | -8.48M | -19.66M | -30.01M | -29.67M | -14.71M | -14.19M |
| Financing Cash Flow | -86.66M | -36.36M | 23.88M | -13.93M | -88.68M | -85.85M |
Beazer Homes Technical Analysis
Neutral
22.13
Price Trends
22.69
Negative
22.50
Negative
23.17
Negative
Market Momentum
-0.04
Negative
56.39
Neutral
67.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BZH, the sentiment is Neutral. The current price of 22.13 is above the 20-day moving average (MA) of 20.32, below the 50-day MA of 22.69, and below the 200-day MA of 23.17, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 56.39 is Neutral, neither overbought nor oversold. The STOCH value of 67.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $3.99B | 145.98 | 5.53% | ― | -24.29% | -53.38% | |
68 Neutral | $3.22B | 11.74 | 11.42% | ― | -1.83% | -30.18% | |
62 Neutral | $603.11M | 8.76 | 6.81% | ― | -4.82% | -80.13% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $1.49B | 17.15 | 5.16% | 1.99% | -7.87% | -54.59% | |
50 Neutral | $1.04B | 105.92 | 3.39% | ― | -22.62% | -60.74% | |
48 Neutral | $492.83M | -148.93 | 0.81% | ― | -13.36% | -104.38% |
* Consumer Cyclical Sector Average
BZH
Beazer Homes
18.03
-2.65
-12.81%
HOV
Hovnanian Enterprises
100.28
2.21
2.25%
MHO
M/I Homes
125.73
18.08
16.80%
TPH
Tri Pointe
46.81
16.16
52.72%
LGIH
LGI Homes
44.88
-8.31
-15.62%
CCS
Century Communities
51.66
-0.42
-0.80%
Beazer Homes Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Beazer Homes Expands Revolving Credit Facility for Growth
Positive
Mar 17, 2026
On March 13, 2026, Beazer Homes USA, Inc. executed a third amendment to its senior unsecured revolving credit facility, increasing the aggregate commitment by $160 million to $525 million. The company also extended the facility’s maturity fr...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Beazer Homes Extends Charter Protections for Tax Assets
Positive
Feb 5, 2026
At its 2026 Annual Meeting of Stockholders held on February 5, 2026, Beazer Homes USA, Inc. secured shareholder approval to amend its certificate of incorporation to extend protective charter provisions aimed at preserving the value of its net def...
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.