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what it is
Green Brick buys land, builds homes, and sells the mortgage, title, and insurance too.
how it gets paid
Last year Green Brick Partners made $2.1B in revenue. home closings was the main engine at $1.79B, or 85% of sales.
growth snapshot
Revenue was roughly flat last year at $2.1B. 31.0% gross margin mattered most because margin drives builder earnings faster than revenue does.
what just happened
The last reported quarter showed revenue of $1.5B and EPS of $5.29, both up more than 190% vs. prior year.
At a glance
B+ balance sheet — decent shape, but not bulletproof
70/100 earnings predictability — reasonably predictable
10.2x trailing p/e — the market's not buying it — or you found a deal
19.0% return on capital — nothing to write home about
$8.45 fy2024 eps est
xvary composite: 58/100 — below average
What they do
Green Brick buys land, builds homes, and sells the mortgage, title, and insurance too.
This company controls more of the sale than a typical builder. It buys the land, builds the house, and handles mortgage, title, and insurance through its own affiliates. That vertical integration means more dollars stay in-house, and you can see it in a 23.0% operating margin versus many builders that live in the mid-teens.
How they make money
$2.1B
annual revenue · their business grew -0.0% last year
home closings
$1.79B
land and lot sales
$0.21B
financial services
$0.11B
The products that matter
constructs and sells homes
Homebuilding
$2.09B · 99.5% of revenue
This is the whole story. The segment produced $2.09B of the company's roughly $2.10B revenue, and Q4 2025 deliveries reached 1,038 homes.
99.5% of revenue
develops and sells lots
Land development & sales
32,000+ lots controlled
Green Brick owned or controlled more than 32,000 lots, up 32% from the prior year. That's future inventory and future risk sitting in the same number.
inventory pipeline
mortgage and title services
Financial services
75–85% capture target
Management is targeting a 75–85% mortgage capture rate. In plain English: it wants to finance more of its own buyers and keep more profit per home.
attach-rate bet
Key numbers
19.0%
return on capital
Return on capital → profit earned on the money used in the business → so what: Green Brick turns every $1 into $0.19 of operating profit, which is strong for a builder.
10.2x
trailing p/e
P/E → price compared with yearly earnings → so what: you are paying about $10.20 for each $1 of profit, which is cheap next to a business earning 19.0% on capital.
23.0%
operating margin
Operating margin → profit after running the business, before interest and taxes → so what: Green Brick keeps $0.23 from each revenue dollar, which is fat for homebuilding.
11%
long-term debt
Debt as a share of capital → how much of the business is funded by borrowing → so what: at 11%, leverage looks restrained for a land-heavy builder, which gives you room if housing slows.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 25 / 100
- long-term debt $348M (11% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for GRBK right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The last reported quarter showed revenue of $1.5B and EPS of $5.29, both up more than 190% vs. prior year.
That quarter looks huge next to the prior year, while full-year revenue stayed at $2.1B and full-year EPS reached $8.45 in the provided estimates. The quiet part is margins stayed high enough to turn flat annual sales into much stronger earnings power.
$1.5B
revenue
$5.29
eps
31.0%
gross margin
the number that mattered
31.0% gross margin mattered most because margin drives builder earnings faster than revenue does, and that level is doing a lot of work.
source: company earnings report, 2026
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What could go wrong
The #1 risk is buyer incentives eating into homebuilding margin. That already showed up in Q4 2025, which is why the margin line matters more than the EPS beat.
high
Margin compression
Higher buyer incentives and a less favorable product mix already pushed Q4 margins lower. If the company has to keep buying demand, the low multiple will stop looking cheap and start looking accurate.
A drop from 31.0% gross margin into the high-20s would hit earnings fast because 99.5% of revenue still comes from home sales.
med
Geographic concentration
Texas, Georgia, and Florida are the whole map. If affordability or local job growth weakens in those markets, there is no fourth region to offset it.
Nearly all of the company's roughly $2.10B revenue is exposed to a small set of Sun Belt housing markets.
med
Lot inventory execution
More than 32,000 lots gives Green Brick room to grow. It also means management has a lot of capital tied to future demand assumptions. If community absorption slows, that inventory gets less exciting.
The same 32% increase in controlled lots that supports growth can weigh on returns if sales pace cools.
med
Capital allocation timing
The new $150M buyback is sensible if management is repurchasing a mispriced stock. It is less sensible if cash goes out just as the housing cycle weakens.
Buybacks help only if the balance sheet stays flexible and the business keeps converting homes into cash.
You are underwriting a cheap builder with good current economics, not a defensive compounder. If margins keep slipping while estimates come down, the multiple will not save you.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin line
Gross margin on the next report
31.0% is still strong. The issue is direction. If the next quarter shows another step down, the low multiple starts to look like the market reading the room.
calendar
Q1 2026 earnings report
You want two things at once: steady deliveries and cleaner incentive spending. One without the other will keep the debate alive.
growth
Houston and broader Sun Belt demand
Management pointed to Houston as a 2026 growth area. If that market absorbs new communities well, the 32,000-plus lot position looks like foresight instead of inventory risk.
macro
Mortgage-rate pressure on affordability
Homebuilding is a financing business wearing a construction helmet. If affordability worsens, incentives rise and margins usually pay the bill.
Analyst rankings
earnings predictability
70 / 100
A 70/100 predictability score means earnings have been more stable than many small and mid-sized builders. In human-speak: this is not chaos, but you should still expect the housing cycle to show up in the numbers.
risk rank
3
Risk rank 3 means the stock sits around the middle of the pack on stability. You are not buying a bunker stock. You are buying a builder with decent financial footing.
source: institutional data
Institutional activity
institutional ownership data for GRBK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$78
current price
n/a
target midpoint · n/a from current
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