Short answer
Tri Pointe Homes, Inc. (TPH) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $3.5B (−22.8% year over year) and net income of $241M.
- Top risk flagged: CIO appointed 2024 leads cybersecurity risk management with 30+ years experience, overseeing protocols for timely incident escalation to Board and Audit Committee
FY2025 key financial metrics · XBRL
- Revenue
- $3.5B
- −22.8% YoY
- Net income
- $241M
- −47.4% YoY
- Operating margin
- 8.7%
- −4.1 pp YoY
- EPS (diluted)
- $2.72
- −43.7% YoY
- ROE
- 7.3%
- −6.5 pp YoY
- Operating cash flow
- $161M
- −76.8% YoY
Source: XBRL data from the Tri Pointe Homes, Inc. (TPH) FY2025 10-K on SEC EDGAR. USD.
Tri Pointe Homes, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Homebuilder focused on single-family homes sales, land development, and financial services with $3.4B home sales revenue in 2025, down 23% YoY
- Emphasis on geographic expansion in Central region, including entry into Utah and further growth in Texas markets
- Strategic shift towards optimizing capital returns with $277.2M stock repurchase reducing shares outstanding by 8.6% despite softer demand
- Backlog units decreased 43% to 862 homes; average sales price in backlog increased 1% to $777K, reflecting pricing resilience amid lower order volumes
- Noteworthy 31.1M inventory impairment charges impacting gross margin by ~90 bps, and increased SG&A expense ratio to 12.6% of home sales revenue
Management Discussion & Analysis
- Net income $241M in 2025 vs $458M in 2024; net cash from operating activities $161.5M down from $696.1M
- Share repurchases $277.2M in 2025 vs $146.7M in 2024; total cash and cash equivalents $982.8M as of Dec 31, 2025
- Homebuilding debt-to-capital ratio increased to 25.0% from 21.6% YoY; net homebuilding debt-to-net capital 3.5% vs (1.6)%
- Repurchase Program repurchased 8.55M shares at avg $32.42 totaling $277.2M, with $22.8M authorized remaining
- Management expects to seek lender consents for Merger to avoid default; inflation and higher interest rates remain key risks impacting margins and costs
Risk Factors
- CIO appointed 2024 leads cybersecurity risk management with 30+ years experience, overseeing protocols for timely incident escalation to Board and Audit Committee
- Information technology team collaborates with legal to ensure compliance with evolving data protection and cybersecurity regulations
- Cybersecurity program under continuous review and enhancement to address emerging threats and vulnerabilities reported regularly to senior management
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