Nobility Homes (NOBH) AI Stock Analysis

• Market Cap: $95.42M
• Dividend Yield: 4.29%
• Average Volume (3M): 750.00
• Price to Earnings (P/E): 11.8
• Beta (1Y): -0.23
• Revenue Growth: -7.23%
• EPS Growth: -7.97%
• Country: US
• Employees: 144
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Residential Construction
• EPS (TTM): 0.72
• Shares Outstanding: 3,153,665
• 10 Day Avg. Volume: 224
• 30 Day Avg. Volume: 750
• PEG Ratio: -7.68
• Price to Book (P/B): 1.62
• Price to Sales (P/S): 1.87
• P/FCF Ratio: 24.77
• Enterprise Value/Market Cap: 0.86
• Enterprise Value/Revenue: 1.56
• Enterprise Value/Gross Profit: 4.90
• Enterprise Value/Ebitda: 8.01
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: $34.00 ▲(14.86% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is driven primarily by strong financial quality (high profitability and a very conservative balance sheet), supported by attractive valuation (moderate P/E and strong dividend yield). Technicals are mildly positive but not strongly confirmed due to slightly negative MACD, keeping the overall score in the upper-middle range.

Positive Factors

Sustained Profitability and Margins

Consistently strong gross (~32%) and net (~16%) margins indicate durable earnings power from its factory-built housing model. These margins support reinvestment, dividend capacity, and resilience to modest price pressure, underpinning long-term cash generation and shareholder returns.

Exceptionally Conservative Balance Sheet

Near-zero leverage and rising equity materially reduce financial risk and increase flexibility across housing cycles. This conservatism preserves optionality for opportunistic capex or acquisitions and lowers refinancing pressure in downturns, supporting continuity of operations.

Strong Cash Conversion in Most Years

FCF that closely follows net income in most years signals high earnings quality and the ability to fund operations and returns internally. Structural cash conversion reduces reliance on external financing and supports steady capital allocation when volatility is contained.

Negative Factors

Revenue Cyclicality and Uneven Top Line

Material swings in revenue across recent years reflect high sensitivity to the residential housing cycle. This cyclicality undermines predictability of sales and investment planning, making sustained growth dependent on favorable macro housing demand rather than company-specific momentum.

Volatile Operating and Free Cash Flow

Intermittent negative and sharply fluctuating cash flows, including a large negative year, increase the need for liquidity buffers and constrain consistent funding of capex, buybacks, or dividends. Volatility raises execution risk during downturns or working-capital swings.

Growth Relies on Demand, Not Leverage

Minimal leverage limits financial risk but also reduces the company's ability to accelerate growth or scale faster via prudent borrowing. Long-term expansion and competitive investment will be constrained if organic demand softens, limiting strategic flexibility versus peers using leverage.

Nobility Homes Business Overview & Revenue Model

Company Description

Nobility Homes, Inc. designs, manufactures, and sells various manufactured and modular homes in Florida. The company markets its homes under the Kingswood, Richwood, Tropic Isle, Regency Manor, and Tropic Manor trade names. It sells its manufactured homes through a network of its own retail sales centers; and on a wholesale basis to independent manufactured home retail dealers and manufactured home communities. In addition, the company offers retail insurance services, which involve placing various types of insurance, such as property and casualty, automobile, and extended home warranty coverage with insurance underwriters on behalf of its customers in connection with their purchase and financing of manufactured homes, as well as operates as a licensed mortgage loan originator. As of November 6, 2021, it operated 10 retail sales centers in Ocala, Chiefland, Auburndale, Inverness, Hudson, Tavares, Yulee, Panama City, and Punta Gorda. The company was incorporated in 1967 and is headquartered in Ocala, Florida.

How the Company Makes Money

Nobility Homes generates revenue primarily through the manufacturing and sale of their manufactured and modular homes. The company's production processes are designed to efficiently create high-quality homes that meet stringent building standards and customer expectations. Sales are driven through a network of retail centers and independent dealers, allowing Nobility Homes to reach a broad customer base. Additionally, they may offer financing options to buyers, which can provide an additional revenue stream. The company benefits from strategic partnerships with suppliers to maintain cost-effectiveness in their production processes, as well as relationships with financial institutions to facilitate customer purchases. Key factors contributing to Nobility Homes' earnings include the overall demand for affordable housing, economic conditions in the regions they serve, and their ability to innovate and adapt to market trends.

Nobility Homes Financial Statement Overview

Summary

Strong profitability (solid gross and net margins) and an exceptionally conservative, near debt-free balance sheet with steadily rising equity support a high-quality profile. Offsetting this, revenue has been uneven since the 2023 peak and cash flows have been notably volatile (including a sharp negative year and weaker operating cash flow most recently).

Income Statement

Profitability is a clear strength: the latest annual period shows solid gross margin (~32%) and healthy net margin (~16%), with consistently positive earnings across all years provided. Revenue growth has been uneven—strong expansion in 2023 followed by a sizable step-down in 2024 and only modest improvement in 2025—suggesting demand cyclicality typical of residential construction. Overall, earnings power remains strong, but the top-line trajectory has become less consistent versus the prior peak year.

Balance Sheet

The balance sheet is exceptionally conservative with essentially no debt in recent years, which materially lowers financial risk and improves flexibility through the cycle. Equity has been steadily building (stockholders’ equity rising from ~51M in 2020 to ~61M in 2025), and returns on equity remain solid (mid-teens recently, peaking above 20% in 2023). The main trade-off is that returns are driven by operations rather than leverage—great for stability, but growth will rely on underlying demand rather than balance-sheet amplification.

Cash Flow

Cash generation is positive in most years, with free cash flow generally tracking net income closely (roughly mid-90% range recently), which supports earnings quality. However, cash flow has been volatile: operating and free cash flow were sharply negative in 2022 despite positive earnings, and operating cash flow in 2025 is materially lower than 2024 while free cash flow growth is negative. Overall, the business can generate cash, but working-capital swings and periodic volatility reduce confidence versus the strength shown in profits and the balance sheet.

Breakdown	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021
Income Statement
Total Revenue	52.67M	51.93M	63.32M	51.52M	45.06M
Gross Profit	16.79M	17.42M	21.49M	14.90M	11.43M
EBITDA	11.53M	9.75M	13.55M	8.60M	7.05M
Net Income	8.45M	8.61M	10.90M	7.23M	5.40M
Balance Sheet
Total Assets	67.15M	66.60M	65.70M	62.36M	66.18M
Cash, Cash Equivalents and Short-Term Investments	13.23M	27.22M	24.61M	21.15M	38.84M
Total Debt	0.00	0.00	0.00	0.00	1.60K
Total Liabilities	6.43M	10.00M	12.99M	14.44M	16.87M
Stockholders Equity	60.71M	56.60M	52.72M	47.92M	49.31M
Cash Flow
Free Cash Flow	3.98M	6.87M	9.59M	-9.08M	11.46M
Operating Cash Flow	4.16M	7.05M	10.12M	-7.83M	13.35M
Investing Cash Flow	53.98K	-2.50M	-6.67M	-2.91M	365.94K
Financing Cash Flow	-4.51M	-4.90M	-6.22M	-8.73M	-7.90M

Nobility Homes Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NOBH, the sentiment is Positive. The current price of 29.6 is above the 20-day moving average (MA) of 29.08, above the 50-day MA of 29.20, and above the 200-day MA of 29.10, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 55.65 is Neutral, neither overbought nor oversold. The STOCH value of 65.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NOBH.

Nobility Homes Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NOBH	77 Outperform	$95.42M	11.76	14.41%	4.29%	-7.23%	-7.97%
SKY	74 Outperform	$5.02B	24.23	13.69%	―	12.14%	48.68%
LEGH	72 Outperform	$514.37M	10.96	9.62%	―	10.25%	-10.52%
CVCO	66 Neutral	$4.37B	24.45	17.18%	―	15.81%	37.89%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
UHG	51 Neutral	$69.40M	-3.70	-51.69%	―	-6.20%	24.90%