Taylor Morrison Home Corporation
- Open
- 71.95
- Day high
- 72.10
- Day low
- 71.92
- Prev close
- 71.86
- Volume
- 202K
- Mkt cap
- $6.7B
- P/E (TTM)
- 10.6
- EPS (TTM)
- $6.81
- P/B
- 1.1
- P/S
- 0.9
- Yield
- —
- Per share
- —
Taylor Morrison Home Corporation (TMHC) is a Consumer Cyclical company listed on NYSE. The stock is up 14% over the past year. Drillr has 2 published research articles covering TMHC.
Taylor Morrison Home Corporation (TMHC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TMHC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.82 | $1.12 | +36.6% | $1.4B | +5.0% |
| Feb 11, 2026 | $1.73 | $1.80 | +4.0% | $2.1B | +51.3% |
| Oct 22, 2025 | $1.93 | $2.11 | +9.3% | $2.1B | +6.7% |
| Jul 23, 2025 | $1.94 | $2.02 | +4.1% | $2.0B | +0.9% |
| Apr 23, 2025 | $1.89 | $2.18 | +15.3% | $1.9B | +6.7% |
| Feb 12, 2025 | $2.40 | $2.64 | +10.0% | $2.4B | +10.5% |
| Oct 23, 2024 | $2.06 | $2.37 | +15.0% | $2.1B | +1.1% |
| Jul 24, 2024 | $1.90 | $1.97 | +3.7% | $2.0B | +8.2% |
| Apr 30, 2024 | $1.60 | $1.75 | +9.4% | $1.7B | +3.4% |
| Feb 14, 2024 | $1.74 | $1.58 | -9.2% | $2.0B | +9.9% |
| Oct 25, 2023 | $1.55 | $1.57 | +1.3% | $1.7B | +2.9% |
| Jul 26, 2023 | $1.68 | $2.12 | +26.2% | $2.1B | +22.1% |
TMHC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | Yip Christopher J.director | Grant | 331 | — |
| Jun 22, 2026 | Merrill Stevin Toddofficer: EVP, CLO & Secretary | Option | 962 | — |
| Jun 22, 2026 | Merrill Stevin Toddofficer: EVP, CLO & Secretary | Tax | 259 | $71.58 |
| May 26, 2026 | MARIUCCI ANNE Ldirector | Grant | 3,287 | — |
| May 26, 2026 | Whalen Amandadirector | Grant | 3,287 | — |
| May 26, 2026 | Ostis Heather Cdirector | Grant | 3,287 | — |
| May 26, 2026 | Warren Denisedirector | Grant | 3,287 | — |
| May 26, 2026 | Lane Peter R.director | Grant | 3,287 | — |
| May 26, 2026 | Owen Andreadirector | Grant | 3,287 | — |
| May 26, 2026 | Ostis Heather Cdirector | Option | 3,096 | — |
| May 26, 2026 | Warren Denisedirector | Option | 3,096 | — |
| May 26, 2026 | MARIUCCI ANNE Ldirector | Option | 3,096 | — |
| May 26, 2026 | Yip Christopher J.director | Grant | 3,287 | — |
| Apr 2, 2026 | Yip Christopher J.director | Grant | 408 | — |
| Mar 16, 2026 | Palmer Sheryldirector, officer: Chairman, President and CEO | Tax | 3,147 | $58.86 |
Source: TMHC SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full TMHC insider & 13F page →TMHC research & analysis
BRK.B Taylor Morrison Acquisition 2026: Berkshire's First Housing Builder at 1.10x Book
BRK.B Taylor Morrison acquisition closes at $6.8B all-cash on May 31, 2026 — Berkshire's first major direct US housing builder position at TMHC's ~1.10x book value. Greg Abel led negotiations.
BRK.BLENDHIBRK.B Abel Succession Portfolio 2026: $6.8B First M&A vs $397B Cash Pile
Berkshire Hathaway Abel succession portfolio thesis: Greg Abel's first big M&A — $6.8B for TMHC — used 1.7% of BRK's $397B Q1 cash + ST investments. The next 4 transactions decide the playbook.
BRK.BLENDHI
Taylor Morrison Home Corporation company profile
Overview
Taylor Morrison Home Corporation (NYSE:TMHC) is a publicly traded homebuilder founded in 1936 and headquartered in Scottsdale, Arizona. The company went public in April 2013 and has grown to become one of the leading homebuilders in the United States through both organic expansion and strategic acquisitions, including the 2020 acquisition of William Lyon Homes. Taylor Morrison operates across eleven states, building single-family detached homes, townhomes, and master-planned communities under multiple brand names including Taylor Morrison, William Lyon Signature, and Darling Homes.
Business
Taylor Morrison operates in the residential construction industry, specifically as a homebuilder that designs, constructs, and sells new homes directly to consumers. The homebuilding industry is a critical component of the broader construction sector, involving the development of residential properties from raw land through finished homes ready for occupancy. The company's core business revolves around three main activities: land acquisition and development, home construction, and home sales. Taylor Morrison acquires raw land or developed lots, often through option contracts that allow them to control land without immediate full payment. They then develop this land into residential communities, installing necessary infrastructure like roads, utilities, and amenities. Finally, they construct homes on these lots and sell them to end consumers. Taylor Morrison serves three distinct consumer segments that represent different price points and buyer demographics. The entry-level segment accounts for approximately 32% of sales and targets first-time homebuyers seeking affordable housing options. The move-up segment represents about 47% of sales, catering to existing homeowners looking to upgrade to larger or better-located properties. The resort lifestyle segment comprises roughly 21% of sales, focusing on active adult communities and luxury properties, often in desirable locations like Florida and California. The company also operates ancillary businesses including title insurance and closing services through its mortgage and title operations, and develops multi-use properties under the Urban Form brand that combine residential, commercial, and retail spaces. These additional services provide supplementary revenue streams while supporting the core homebuilding operations.
Revenue model
Taylor Morrison generates revenue primarily through direct home sales to individual consumers, with the average home selling for approximately $600,000. The company operates on a traditional homebuilding business model where they purchase or control land, develop it into residential lots, construct homes, and sell these completed properties at a markup that covers land costs, construction expenses, overhead, and profit margins. The company's revenue model includes both speculative construction (building homes before finding buyers) and build-to-order homes (constructing homes after securing purchase contracts). Currently, about 60% of their sales come from spec homes, which allows for faster inventory turnover but requires more working capital and carries inventory risk. Taylor Morrison's profitability is influenced by several key factors. Land costs represent a significant expense, and the company has strategically shifted toward controlling lots through option contracts rather than outright purchases, with 57-59% of their lot inventory now controlled off-balance sheet. This approach reduces capital requirements and financial risk. Construction material costs and labor availability directly impact margins, with the company noting potential tariff impacts of $4,000-$5,000 per house. Interest rates significantly affect demand, as higher rates reduce buyer affordability and often require the company to offer mortgage rate incentives, which compress margins. The company's gross margins typically range from 23-25%, with the ability to maintain margins through personalized incentive strategies rather than broad price cuts. Revenue seasonality follows typical homebuilding patterns, with stronger sales in spring and summer months. Geographic diversification across eleven states helps mitigate regional economic downturns, while the three-segment consumer strategy provides resilience across different economic cycles and buyer demographics.
Competitive moat
Taylor Morrison operates in the highly competitive homebuilding industry, which generally lacks strong structural moats due to the relatively low barriers to entry and commodity-like nature of the product. However, the company has developed several moderate competitive advantages that provide some protection. The company's primary moat stems from its land control strategy and geographic positioning. With over 83,000 controlled lots representing 6.5 years of supply, Taylor Morrison has secured access to desirable locations that are increasingly difficult to obtain due to zoning restrictions and limited developable land in high-growth markets. Their presence in supply-constrained markets like California, Florida, and Colorado provides some pricing power, as these areas have significant regulatory barriers to new development. Taylor Morrison's operational scale and brand recognition in key markets creates advantages in land acquisition, as sellers often prefer dealing with established builders with proven track records. The company's financial strength, with over $1 billion in liquidity, allows them to compete effectively for prime land parcels and weather market downturns better than smaller competitors. However, these advantages are relatively weak compared to other industries. The homebuilding sector faces constant competitive pressure from both large national builders and smaller regional players. Product differentiation is limited, as homes are largely commoditized, and switching costs for consumers are minimal. The company's moat is further challenged by cyclical demand patterns, regulatory changes, and the potential for new entrants during favorable market conditions. The most significant competitive threat comes from other large national homebuilders like D.R. Horton, Lennar, and PulteGroup, who compete directly in many of the same markets with similar strategies and comparable financial resources. Regional builders can also pose threats in specific markets where they have local expertise and relationships.
Risks & safety
Taylor Morrison demonstrates a strong financial position with substantial margin of safety, though typical homebuilding cyclicality creates some inherent risks. • Liquidity and Cash Position: Over $1 billion in total liquidity with $377 million in cash and short-term investments provides significant cushion for operations and opportunistic investments • Debt Management: Debt-to-equity ratio of 0.36 indicates conservative leverage; current ratio of 8.5 shows strong ability to meet short-term obligations • Valuation Metrics: Trading at attractive multiples with P/E ratio of 7.1, EV/EBITDA of 6.6, and price-to-book ratio of 1.02, suggesting reasonable valuation relative to earnings and assets • Operational Cash Flow: Positive free cash flow generation of $69 million in Q1 2025, though historically volatile due to working capital requirements in homebuilding • Asset Quality: Strong current assets of $7.2 billion primarily consisting of land and work-in-progress inventory, though these assets are illiquid and subject to real estate market fluctuations • Other Considerations: Controlled lot strategy reduces capital intensity; diversified geographic presence mitigates regional risks; however, cyclical industry nature creates earnings volatility risk during economic downturns
Recent development
Over the past few years, Taylor Morrison has executed several strategic initiatives to strengthen its market position and operational efficiency. The company has significantly shifted its land acquisition strategy toward controlling lots through option contracts rather than outright purchases, increasing the controlled lot percentage from approximately 40% to 57-59% of total inventory. This approach reduces capital requirements and provides more flexibility during market downturns. The company has pursued operational streamlining through its Canvas program, which simplified product offerings by reducing option counts by 60%. This standardization now represents over 60% of closings and has improved construction efficiency and reduced costs. Taylor Morrison has also focused on self-development projects rather than purchasing finished lots, with finished lots decreasing from 35% to 12% of total acquisitions, allowing for better margin control. Geographic expansion and market entry has been another key focus, with the company recently entering the Indianapolis market and continuing to grow community counts across existing markets. The company targets reaching at least 355 communities by the end of 2025, up from current levels around 340. Taylor Morrison has enhanced its customer financing capabilities by introducing programs like "Buy Build Secure," a flex program designed to help first-time homebuyers navigate the purchase process. The company has also developed more sophisticated, personalized incentive strategies rather than broad-based price cuts, helping maintain margins while remaining competitive. The company has maintained focus on capital allocation discipline, authorizing a $1 billion share repurchase program and targeting $300-350 million in annual buybacks. They've also established new financing relationships, including a land banking facility with Kennedy Lewis, to support their controlled lot strategy while maintaining balance sheet flexibility.
TMHC company profile · for informational purposes only — not investment advice.
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