Nobility Homes (NOBH) AI Stock Analysis

• Market Cap: $94.23M
• Dividend Yield: 4.29%
• Average Volume (3M): 750.00
• Price to Earnings (P/E): 10.5
• Beta (1Y): -0.25
• Revenue Growth: -7.23%
• EPS Growth: -7.97%
• Country: US
• Employees: 144
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Residential Construction
• EPS (TTM): 0.50
• 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: 0.89
• Enterprise Value/Revenue: 1.59
• Enterprise Value/Gross Profit: 4.98
• Enterprise Value/Ebitda: 8.14
• 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: 76 Outperform
• Price Target: $35.00 ▲(18.24% Upside)
• Action: Reiterated Date: 03/09/26
• Date: Action: Reiterated 03/09/26

The score is driven primarily by strong underlying financial quality—high profitability and a near debt-free balance sheet—tempered by cash-flow volatility and uneven revenue trends since the 2023 peak. Valuation is supportive with a moderate P/E and a strong dividend yield, while technicals are modestly positive but near-term momentum is somewhat stretched (high Stoch).

Positive Factors

High Profitability

Sustained gross (~32%) and net (~16%) margins indicate durable operating efficiency in factory-built housing. High margins support reinvestment and shareholder returns, provide a buffer in cyclical downturns, and reflect product/pricing strength versus lower-margin peers.

Near Debt-Free Balance Sheet

An essentially debt-free balance sheet materially lowers default and refinancing risk, giving the company financial flexibility to weather housing cycles, fund capital expenditures from internal cash, and pursue opportunistic investments without high financing costs.

Integrated manufacturing + community operations

Combining home manufacturing with ownership of a manufactured-home community creates diversified revenue: cyclical unit sales plus recurring rental/community income. This vertical mix smooths cash flows and leverages assets across production, sales, and property management.

Negative Factors

Uneven revenue trends since 2023

Revenue spiked in 2023 then stepped down in 2024 with only modest 2025 improvement, reflecting demand cyclicality in residential construction. Irregular top-line growth reduces visibility for capacity planning, margins, and long-term capital allocation decisions.

Material cash-flow volatility

Although free cash flow generally tracks net income, the history of sharply negative OCF (2022) and weaker 2025 OCF shows working-capital swings and timing risk. Volatile cash generation can constrain investments, dividend sustainability, and operational resilience in downturns.

Growth reliant on demand rather than leverage

The conservative capital structure reduces risk but limits the company’s ability to accelerate growth via external financing. Without leverage, scaling production or expanding market share depends primarily on organic demand and internal cash, which may slow expansion versus peers.

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 (gross margin ~32%, net margin ~16%) and an exceptionally conservative, near debt-free balance sheet drive a high-quality profile. Offsetting factors are uneven post-2023 revenue performance and volatile cash flow (including sharply negative operating/free cash flow in 2022 and weaker operating cash flow in 2025), which adds cyclicality and execution risk.

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: Neutral
• Last Price: 29.60
• 50DMA: Positive
• 100DMA: Negative
• 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 Neutral. The current price of 29.6 is below the 20-day moving average (MA) of 29.74, above the 50-day MA of 29.31, and above the 200-day MA of 29.15, indicating a bullish trend. The MACD of 0.31 indicates Negative momentum. The RSI at 51.50 is Neutral, neither overbought nor oversold. The STOCH value of 33.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NOBH.

Nobility Homes Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NOBH	76 Outperform	$94.23M	10.48	14.41%	4.29%	-7.23%	-7.97%
SKY	74 Outperform	$4.39B	22.24	13.58%	―	12.14%	48.68%
LEGH	67 Neutral	$482.44M	11.20	9.62%	―	10.25%	-10.52%
CVCO	66 Neutral	$3.97B	26.87	17.14%	―	15.81%	37.89%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
UHG	43 Neutral	$68.22M	-5.63	-26.00%	―	-6.20%	24.90%

Nobility Homes Corporate Events

Nobility Homes Extends Stock Plan, Confirms Governance Stability

On March 6, 2026, Nobility Homes’ board extended the termination date of its 2011 Stock Incentive Plan by five years, from June 1, 2026 to June 1, 2031, effectively preserving a key equity-based compensation tool for retaining and incentivizing employees and executives. The same day, shareholders re-elected four directors, endorsed holding advisory votes on executive pay every three years, and approved the company’s 2025 executive compensation, signaling continued investor support for current leadership and pay practices.

These governance decisions collectively reinforce stability in Nobility Homes’ board composition and compensation framework, which may aid long-term strategic planning and talent retention. The three-year say-on-pay frequency also suggests shareholders are comfortable with less frequent direct input on executive compensation, potentially reducing administrative burdens while maintaining periodic accountability for the company’s pay policies.

The most recent analyst rating on (NOBH) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Nobility Homes stock, see the NOBH Stock Forecast page.