|GRBK Overview
GRBK

Green Brick Partners, Inc.

Materials • CIK: 0001373670

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Market Cap
$2.74B
P/E (TTM)
8.8x
Rev Growth (TTM)
-0.0%
Net Margin (TTM)
14.9%
FCF Yield (TTM)
7.6%
FCF Margin (TTM)
9.9%

LATEST EARNINGS

Q4 2025
8 days ago
View source
Revenue
$552.61M
-2.6%
Net Income
$78.36M
-24.5%
EPS
$1.78
-22.9%
Gross
29.4% -4.9%
Net
14.2% -4.1%
  • Full year 2025 net income of $313 million, a record year for the company.
  • Full year 2025 new home deliveries of 3,943, a record year on record.
  • Full year 2025 home closings revenue of $2,091 million, a record year on record.
  • Full year homebuilding gross margins of 30.5%, leading the public homebuilding industry.

Cash Flow Health

Free Cash Flow6/8 positive
TTM$208M
Q4 '25
$78M+752%
Q3 '25
$-12M-116%
FCF Margin
TTM9.9%
Q4 '2514.2%+689%
Sector: 0.8%Top 25%
OCF Margin10.2%
OCF/NI0.68x
CapEx Coverage44.4x
FCF Yield7.6%
FCF Growth (2Y)+33%
Cash Conversion Cycle
5 days
DSO: 5+DIO: 0DPO: 0

Capital Allocation & Returns

Balanced
Total Shareholder YieldTTM
TTM3.1%
Div Yield0.1%
+
Buyback (TTM)3.0%

Balancing returns with reinvestment

Dividend & Payout Metrics
Dividend Yield (TTM)0.1%
FCF Payout Ratio1.4%
Free Cash Flow (TTM)$208.4M
Stock Repurchases (TTM)$83.4M
Capital Return / FCF41.4%
Est. Dividends Paid (TTM)$2.9M
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
18.4%
Moderate
-0.1% YoY-10.9%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
15.3%
8Q: 16.6%
Asset Turnover
0.89x
8Q: 0.94x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 13.6%18.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
354.05x
8Q:331.18x
+9127.3%
Invested Cap Turn
148.96x
8Q:144.80x
+2388.6%
CapEx Intensity
34.1%
8Q:27.3%
CapEx/Depreciation
0.94x
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024
Revenue
$2.1B
$552.6M10.7%
$499.1M9.1%
$549.1M10.4%
$497.6M12.3%
$567.3M8.3%
$523.7M6.6%
$560.6M25.3%
$447.3M
Operating Income
$409.4M
$103.5M6.3%
$97.3M9.7%
$107.7M6.8%
$100.9M24.4%
$133.4M17.2%
$113.8M13.8%
$132.1M35.2%
$97.7M
Net Income
$311.1M
$77.6M0.7%
$77.1M5.0%
$81.2M8.2%
$75.1M27.2%
$103.1M16.6%
$88.4M15.5%
$104.6M25.6%
$83.3M
Operating Cash Flow
$213.2M
$80.0M884.6%
$-10.2M113.6%
$74.7M8.7%
$68.7M137.6%
$28.9M566.6%
$-6.2M386.8%
$2.2M112.6%
$1.0M
Free Cash Flow
$208.4M
$78.4M752.4%
$-12.0M116.2%
$74.0M8.8%
$68.0M142.5%
$28.1M481.2%
$-7.4M1043.5%
$780.0K940.0%
$75.0K
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
8.8x
Volatile
8Q: 34.4x+737%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
8.8x
vs sector
Cash Flow
12.4x
EV/FCF vs
Growth-Adj
PEG
N/A
Quality-Adj
0.5P/E per %ROIC
ROIC: 18.4%
Shareholder Returns
Dividend
0.1%
Buyback
3.0%
Total Yield
3.1%
Market Cap$2.74B
EV$2.59B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
79/100
High Quality

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Above Avg
18.0%
8Q:
Return on Invested Capital (ROIC)Top 25%
18.4%
8Q:
-10.9%
vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 15.3%
Asset Turnover: 0.89x

Earnings Quality

Cash Conversion

0.68x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin30.5%

Capital Efficiency

Invested Capital Turnover148.96x

Working Capital

Cash Conversion Cycle5 days

Growth Quality & Momentum

Moderate Growth
Growth Quality Score
60/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
-0.0%
OpInc Growth YoY
-22.4%
EPS Growth YoY
-16.3%
FCF 3Y CAGR
33.0%

Growth Quality Analysis

Efficient Growth: Free cash flow growing faster than revenue

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
30.5%
Operating
19.5%
Top 25% in sector
Net
14.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
-5.0 pts
FCF: 9.9% | Net: 14.9%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $190.99M
Interest Coverage
+Net cash position: $190.99M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis