Beazer Homes USA, Inc. (BZH) Stock

Beazer Homes USA, Inc. (BZH) is a Industrials stock trading at $33.20 (as of 2026-09-02), with a market capitalization of $885.90M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Beazer Homes USA, Inc. builds and sells single-family and multi-family homes in the United States, offering homes under the Beazer Homes, Gatherings, and Choice Plans names. It markets and sells these homes through commissioned sales counselors and independent brokers across multiple states.

Understand Beazer Homes USA, Inc.: how it makes money

Beazer Homes builds and sells single-family and multi-family homes under three brand names, earning revenue when homes are closed to customers. Revenue is tied to land lot control across 13 states, with pricing that flexes to local demand and mortgage rates.

Each home is a one-off build sold at a spread over lot and construction cost, so the 13% gross margin must absorb all selling, G&A, and incentive spend to produce any operating profit.

Business quality (Weak): Weak. The company posted a negative 2% operating margin and negative ROE for the quarter, meaning the business is not yet generating stable operating profit. The 13% gross margin is typical for volume homebuilders but leaves little cushion when incentives spike.

Bull case

Newer communities lift the mix: Management projects newer communities will reach about 50% of Q4 revenue with higher ASPs and margins, shifting the product mix toward more profitable housing.
Per-home cost savings ahead: More than $10,000 per-home cost reductions are expected to benefit Q3 and Q4 results, directly widening the thin gross margin on each closed unit.
Buyback compounds book value: The remaining buyback authorization is expected to drive 5%-10% year-end book value per share growth, returning capital to shareholders even while the builder recovers.

Bear case

Sales pace stuck below target: The required 2.5 sales pace has not been achieved in the last two years, indicating structural demand weakness that caps volume growth and keeps the company from scaling efficiently.
Loss-making at the operating level: Q1 produced negative adjusted EBITDA and a $1.13 diluted loss per share, confirming the business is destroying value at current volumes and pricing.
Incentives are eroding the spread: Higher incentives contributed to sequential margin degradation, showing the company must give back price to move homes and compressing the already thin 13% gross margin further.

Valuation — source: SEC EDGAR (first-party)
Price	$33.20
Market Cap	$885.90M
Price / Book	0.77
Price / Sales	0.43
FCF Yield	0.4%
DCF Value (model)	$11.31
DCF Upside vs Price	-65.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.37B
Net Margin	1.9%
Revenue Growth (YoY)	-5.3%
EPS Growth (YoY)	1500.0%
FCF Growth (YoY)	119.1%

Valuation vs Sector & Industry
Sector P/E (Industrials)	25.7
Industry P/E (Construction)	22.8

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	DONALD SMITH & CO., INC. ($57.46M)
Institutional Holders Tracked	10

Company
Sector	Industrials
Industry	Construction
CEO	Allan Merrill
Employees	1,158
Country	US
IPO Date	1994-02-23

Beazer Homes USA, Inc. earnings call transcripts

BZH Q1 FY26 earnings call transcript (reported 2026-01-29) · analysis

All BZH earnings calls

Related Companies (Construction; 8 comparable construction companies)

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.