Cavco Industries

What Cavco Industries does

Cavco Industries (NASDAQ: CVCO) is a U.S. factory-built housing manufacturer founded in 1965 and headquartered in Phoenix, Arizona. The company designs, builds, and sells manufactured homes (HUD-code), modular homes (state/local-code), park model RVs, and accessory dwelling units (ADUs) through a network of 33 production lines across 16 states, 99 company-owned retail stores, and independent dealers in the U.S. and Canada. Product lines are tiered from entry-level Halo through mid-range Banner and Ovation to luxury Reserve, with the Anthem Duplex Series as a differentiated offering for higher-density, multi-family affordable housing. Manufacturing is performed in climate-controlled indoor facilities using computer-aided design (CAD), assembly-line production, and oriented strand board (OSB) construction, yielding homes that are 10–30% cheaper, use 35% less energy, produce 50–70% less waste, and generate 43% less CO2 than comparable site-built homes per industry studies.

Cavco operates a vertically integrated business model that extends beyond home production into retail sales, mortgage lending, and insurance. Captive finance is provided through CountryPlace Mortgage and American Homestar Mortgage (approved Fannie Mae / Freddie Mac seller-servicer and Ginnie Mae MBS issuer), and manufactured-home property and casualty coverage is offered through Standard Casualty Company, Cedarbrook Insurance Group, and Western Insurance Agency across 37 states. The company serves four primary customer segments: individual homebuyers (first-time, retirees, families), community and subdivision developers, land-lease community operators, and recreational/seasonal buyers. Revenue for FY2026 (ending March 28, 2026) was $2.245 billion, up 11.4% year-over-year, on record shipments of 20,842 homes, with the company employing approximately 8,000 people nationwide.

Recent strategic activity has focused on inorganic growth and brand consolidation: acquisitions of Solitaire Homes ($93 million, 2023) and American Homestar ($190 million, 2025), April 2025 unification of all acquired brands under the Cavco name, December 2023 launch of the Anthem Duplex Series, a new 616,000 sq ft manufacturing facility under construction in El Mirage, Arizona for mid-2027 commissioning, and active engagement in state zoning reform (Virginia HB 655 / SB 346 signed June 2026). Major shareholders include Allspring Global Investments Holdings LLC and AIA Group Ltd, with CEO William C. Boor leading the company since 2019.

Name

Cavco Industries

Legal name

Cavco Industries, Inc.

Website

https://cavcohomes.com

Company type

Public

Founded year

1965

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Cavco Industries is a Phoenix-based, publicly traded U.S. manufacturer of factory-built manufactured and modular homes, modular park model RVs, and ADUs, operating 33 production lines and 99 retail stores nationwide while offering captive mortgage and insurance services.

Ownership category

akta.pro rank

Product category

Manufactured Housing (Factory-Built Homes)

NAICS

Manufactured Home (Mobile Home) Manufacturing (321991), New Housing For-Sale Builders (236117)

SIC

Mobile Homes (2451)

akta.pro primary industry

Residential Modular & Prefabricated Home Construction (IMAFABAF)

akta.pro secondary industries

Residential Manufactured Housing Setup & Installation (IMAFABAG), Detached ADU (Backyard Cottage) Construction (HSAPAMAA)

Keywords

• Factory-built housing
• Manufactured homes
• Modular construction
• Residential mortgages
• Property insurance

Headquarters

HQ city

Phoenix

HQ country

United States

HQ region

North America

Offices33 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Home Manufacturing and Sales: Design and production of factory-built housing products (manufactured homes, modular homes, park model RVs) sold through company-owned and independent retail networks. Revenue from home sales volume and average selling prices.
2. Retail Operations: Company-owned retail stores selling homes directly to consumers with bundled financing and insurance options. Includes turnkey pricing with delivery, installation, and site preparation.
3. Mortgage Lending (CountryPlace Mortgage): Residential mortgage lender offering conventional, government and non-conforming products through correspondent and wholesale channels. Approved Fannie Mae, Freddie Mac seller/servicer and Ginnie Mae MBS issuer.
4. Insurance Services (Standard Casualty): Property and casualty insurance for owners of manufactured homes. Operating in 37 states with policies including home replacement, personal effects coverage, and protection against fire, theft, and weather events.
5. Financial Services Segment: New loan originations agreement with third-party investor committing approximately $25 million per quarter over two years.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Cavco Industries designs, manufactures, and sells factory-built homes — manufactured homes built to HUD code, modular homes built to state/local codes, park model RVs, and accessory dwelling units — through 33 production lines and 99 company-owned retail stores plus an independent dealer network in the U.S. and Canada. The company also provides vertically integrated financing through CountryPlace Mortgage and American Homestar Mortgage, and property/casualty insurance for manufactured homeowners through Standard Casualty, Cedarbrook Insurance, and Western Insurance Agency.

Product overview

Cavco Industries is a factory-built housing company offering a comprehensive portfolio of products and services. The core offerings include manufactured homes (built to HUD code), modular homes (built to local/state codes), park model RVs, vacation cabins, and Accessory Dwelling Units (ADUs). The company operates 33 manufacturing facilities and 99+ retail locations nationwide under the unified Cavco brand (as of April 2025 unification). Product lines are structured from entry-level (Halo) to luxury (Reserve), with the innovative Anthem Duplex Series being the first nationally available HUD-approved manufactured duplex. Cavco provides end-to-end services through vertically integrated subsidiaries: CountryPlace Mortgage and American Homestar Mortgage for financing, and Standard Casualty, Cedarbrook Insurance, and Western Insurance for insurance coverage. The company serves homebuyers, community developers, and commercial builders through its coast-to-coast manufacturing and retail network.

Differentiator

Problem solved

Functional benefit

Brands

• Cavco Park Models & Cabins: Park model RVs and vacation cabins for the outdoor hospitality industry, glamping cabins and cottages
• Halo
• Banner
• Ovation
• Reserve
• Anthem Duplex Series
• CountryPlace Mortgage
• Standard Casualty Company

Products and services

• Manufactured Homes
• Modular Homes
• Park Model RVs
• Accessory Dwelling Units (ADUs)
• Halo Product Line
• Banner Product Line
• Ovation Product Line
• Reserve Product Line
• The Anthem Duplex Series
• La Belle Home Model

Quantifiable outcome

• Factory-built homes use 35% less energy annually than site-built homes (American Council for an Energy Efficient Economy)
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered strategic and core.

• Virginia Governor Abigail SpanbergerstrategicStrategic or Co-development Partner · 2 June 2026Cavco Industries hosted Virginia Governor for signing of House Bill 655 and Senate Bill 346, zoning reform measures effective July 1, 2026. Legislation expands manufactured home placement and makes zoning rules more uniform.
• American Homestar Corporation (Oak Creek Homes)coreStrategic or Co-development Partner · 1 January 2025Acquisition completed during Q3 fiscal 2026, contributing $42 million in net revenue. American Homestar operates Oak Creek Homes in Lake Arlington and Lancaster, Texas. Expected to realize over $10 million in annual synergies.
• UMH Properties, Inc.strategicStrategic or Co-development Partner · 1 December 2023Real estate investment trust utilizing Anthem Duplex series for affordable housing communities. UMH offers Anthem duplexes significantly below national averages for comparable apartments.
• Solitaire HomescoreStrategic or Co-development Partner · 27 October 2022Acquisition of Solitaire Homes, a manufacturer and retailer of manufactured homes based in Duncan, Oklahoma. Valued at $93 million. Expands Cavco's manufacturing capacity and strengthens presence in Southwest and Mexico markets. Solitaire Homes operated as Solitaire North (Deming, NM; Duncan, OK) and Solitaire South (Presidio, TX).
• CountryPlace MortgagecoreStrategic or Co-development PartnerCavco's finance subsidiary providing mortgage lending services. Approved Fannie Mae and Freddie Mac seller/servicer and Ginnie Mae MBS issuer. Offers conforming mortgages, non-conforming mortgages, and home-only loans for factory-built home purchasers.
• Standard Casualty CompanycoreStrategic or Co-development PartnerCavco's insurance subsidiary specializing in manufactured home coverage. Operating in 37 states, provides property and casualty insurance including home replacement, personal effects coverage, and protection against fire, theft, and weather events.
• VAMMHA (Virginia Manufactured & Modular Home Association)strategicStrategic or Co-development PartnerPartnership with Virginia's industry association to promote affordable factory-built housing solutions and expand housing options for families seeking affordable, energy-efficient solutions.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Clayton Homes: Berkshire Hathaway-owned manufactured home builder; the largest U.S. producer of factory-built housing with national manufacturing, retail, and finance operations. Directly comparable in product mix, channel structure, and vertical integration including Clayton Mortgage and insurance arms.
• Skyline Champion Corporation: Publicly traded manufacturer of manufactured and modular homes (NASDAQ: SKY) with multiple plant brands and a national footprint. Closest direct competitor to Cavco in factory-built housing volume, product range, and multi-brand strategy.
• Legacy Housing Corporation: Manufactured homes and park model RVs producer (NASDAQ: LEGH) selling through independent dealers and company-owned retail. Comparable in product category and small/mid-cap scale, though with a smaller geographic footprint than Cavco.
• Nobility Homes: Florida-based manufactured and modular home builder (NASDAQ: NOBH) with retail operations. Direct competitor in HUD-code manufactured housing serving similar Southeastern U.S. customer segments.

Emerging players

• UMH Properties: Manufactured home community REIT (NYSE: UMH) that purchases and operates MHCs and is an Anthem Duplex customer. Comparable not as a builder but as a downstream channel and strategic partner within the same manufactured-housing value chain.
• LGI Homes: Affordable site-built homebuilder (NASDAQ: LGIH) targeting first-time buyers. Comparable in targeting entry-level / affordable buyers but using traditional site-built construction — illustrates competitive pressure on the affordable housing segment.

Broad incumbents

• Sun Communities: Large publicly traded REIT (NYSE: SUI) operating manufactured housing and RV communities. Comparable as a major buyer of factory-built homes and a key customer segment for Cavco's community-developer channel.
• Equity LifeStyle Properties: REIT (NYSE: ELS) operating manufactured home communities and RV resorts across the U.S. Comparable as a major institutional customer for manufactured housing stock and as a community operator pulling demand for Cavco homes.
• D.R. Horton: Largest U.S. homebuilder (NYSE: DHI) with broad entry-level product lines including D.R. Horton Express. Comparable as a broader-affordable incumbent competing for the same first-time-buyer wallet, though using site-built methods.

Regional players

• Tri Pointe Homes: National homebuilder (NYSE: TPH) with a meaningful presence in entry-level and move-up segments. Comparable as a broad incumbent homebuilder competing in the same affordable and first-time-buyer segments Cavco serves, though primarily through site-built construction in different geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights8 records

Customer concentration

• Xtwitter.com/cavcoindustries
• YouTubeyoutube.com/user/CavcoHomes
• Facebookfacebook.com/CavcoIndustriesIncorporated
• LinkedInlinkedin.com/company/cavco-industries-inc.
• Instagraminstagram.com/cavcohomes
• TikToktiktok.com/@cavcohomes
• Pinterestpinterest.com/Cavco_Homes

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cavco Industries