Smith Douglas Homes Corp. (SDHC) Income Statement
SDHC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSDHC revenue and net income
Where SDHC's revenue goes
2025Each bar shows an amount and its share of revenue. SDHC kept 1.1% of revenue as net income.
SDHC profit margins
SDHC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −0.4% | +8.7% | — | — |
| Gross profit | −17.0% | −1.6% | — | — |
| Operating income | −39.2% | −19.7% | — | — |
| Net income | −33.5% | −57.6% | — | — |
| EPS (diluted) | +150.3% | +10.4% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SDHC quarterly EPS vs estimates
Smith Douglas Homes beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.10).
SDHC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $971.1M | $975.5M | $764.6M | $755.4M | $518.9M |
| Cost of revenue | $758.9M | $719.9M | $548.3M | $532.6M | $395.9M |
| Gross profit | $212.2M | $255.5M | $216.3M | $222.8M | $122.9M |
| Sales, general & admin | $139.8M | $136.4M | $92.4M | $83.3M | $64.2M |
| Total operating expenses | $139.8M | $136.4M | $92.4M | $83.0M | $64.2M |
| Operating income | $72.4M | $119.2M | $123.9M | $139.7M | $58.7M |
| Interest expense | $3.2M | $2.5M | $1.7M | $997,000 | $1.7M |
| Income before taxes | $70.9M | $116.9M | $123.2M | $146.0M | $62.5M |
| Income taxes | $2.5M | $5.1M | — | $5.6M | — |
| Net income | $10.7M | $16.1M | $123.2M | $140.4M | $62.5M |
| EBITDA | $76.6M | $121.2M | $125.9M | $142.3M | $65.7M |
| EPS (diluted) | $4.33 | $1.73 | $1.08 | $3.22 | — |
| Gross margin | 21.8% | 26.2% | 28.3% | 29.5% | 23.7% |
| Operating margin | 7.5% | 12.2% | 16.2% | 18.5% | 11.3% |
| Net margin | 1.1% | 1.6% | 16.1% | 18.6% | 12.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $273.0M | $206.4M | $260.4M | $262.0M | $223.9M | $224.7M | $287.5M | $277.8M | $220.9M | $189.2M | $170.0M | $197.6M |
| Cost of revenue | $225.1M | $166.0M | $208.7M | $207.1M | $172.0M | $171.2M | $214.2M | $204.1M | $161.9M | $139.7M | $122.2M | $140.5M |
| Gross profit | $47.9M | $40.5M | $51.7M | $55.0M | $51.9M | $53.5M | $73.3M | $73.7M | $59.1M | $49.5M | $47.9M | $57.1M |
| Sales, general & admin | $41.9M | $35.9M | $36.0M | $36.1M | $34.7M | $33.0M | $42.9M | $34.1M | $31.8M | $27.5M | $21.1M | $29.5M |
| Total operating expenses | $41.9M | $35.9M | $36.0M | $36.1M | $34.7M | $33.0M | $42.9M | $34.1M | $31.8M | $27.5M | $143.2M | $57.1M |
| Operating income | $6.0M | $4.5M | $15.7M | $18.9M | $17.2M | $20.5M | $30.4M | $39.6M | $27.2M | $21.9M | $26.8M | $34.1M |
| Interest expense | $640,000 | $848,000 | $858,000 | $898,000 | $772,000 | $666,000 | $586,000 | $614,000 | $591,000 | $698,000 | $850,000 | $408,000 |
| Income before taxes | $1.9M | $4.3M | $16.9M | $17.2M | $17.2M | $19.6M | $30.0M | $39.6M | $25.9M | $21.4M | $26.0M | $33.9M |
| Income taxes | $100,000 | $253,000 | −$130,000 | $1.0M | $744,000 | $857,000 | $1.3M | $1.8M | $1.1M | $921,000 | — | — |
| Net income | $246,000 | $565,000 | $3.5M | $2.1M | $2.4M | $2.7M | $4.1M | $5.3M | $3.6M | $3.0M | $109.2M | $33.9M |
| EBITDA | $3.4M | $6.0M | $18.6M | $18.8M | $18.5M | $20.7M | $31.3M | $40.6M | $26.8M | $22.4M | — | $34.7M |
| EPS (diluted) | $0.16 | $0.35 | $1.41 | −$0.12 | $1.43 | $1.61 | $0.46 | $0.58 | $0.38 | $0.31 | $0.58 | $0.50 |
| Gross margin | 17.6% | 19.6% | 19.9% | 21.0% | 23.2% | 23.8% | 25.5% | 26.5% | 26.7% | 26.1% | 28.2% | 28.9% |
| Operating margin | 2.2% | 2.2% | 6.0% | 7.2% | 7.7% | 9.1% | 10.6% | 14.2% | 12.3% | 11.6% | 15.8% | 17.2% |
| Net margin | 0.1% | 0.3% | 1.4% | 0.8% | 1.1% | 1.2% | 1.4% | 1.9% | 1.7% | 1.6% | 64.2% | 17.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SDHC's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SDHC financial results
In fiscal year 2025 (ended December 31, 2025), Smith Douglas Homes reported revenue of $971.1 million, down 0.4% from the year before. It had net income of $10.7 million (down 33.5%), a net profit margin of 1.1%. Diluted earnings per share came to $4.33.
See the SDHC stock overview for the latest quote and news, or the SDHC chart for price history and technical indicators.
SDHC income statement FAQ
What is Smith Douglas Homes's annual revenue?
Smith Douglas Homes reported total revenue of $971.1 million for fiscal year 2025, which ended on December 31, 2025. That was down 0.4% from $975.5 million the previous year.
Is Smith Douglas Homes profitable?
Yes. Smith Douglas Homes reported net income of $10.7 million in fiscal 2025, a net profit margin of 1.1%; its operating margin was 7.5%.
What is Smith Douglas Homes's gross margin?
Smith Douglas Homes's gross margin was 21.8% in fiscal 2025: for every $100 of revenue, Smith Douglas Homes kept $22 after the direct cost of its products and services.
What are Smith Douglas Homes's earnings per share?
Smith Douglas Homes earned $4.33 per diluted share in fiscal 2025, compared with $1.73 a year earlier.
When will Smith Douglas Homes report its next earnings?
Smith Douglas Homes is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Smith Douglas Homes's fiscal year end?
Smith Douglas Homes's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.