Legacy Housing Corp (Texas)
legacyhousing.comWhat Do They Do?
Builds and sells manufactured homes and tiny houses, and provides financing to home buyers, independent retailers, and manufactured-home community owners.
10-K for FY2025, filed Mar 12, 2026
How Do They Make Money?
Legacy sells homes to retailers, community owners, and retail buyers; home-sale revenue generally comes when a home is delivered, while direct sales are generally paid before shipment. It also earns interest on customer and dealer loans, plus lease, consignment, and service fees.
10-K for FY2025, filed Mar 12, 2026Product sales primarily consist of sales of manufactured homes to consumers and mobile home parks through various sales channels, which…View ↗
Revenue from product sales is recognized when the performance obligation under the terms of a contract with our customer is satisfied…View ↗
For inventory financed sales, the independent dealer enters into a financing arrangement with the Company and is required to make monthly…View ↗
Other revenue consists of contract deposit forfeitures, consignment fees, commercial lease rents, land sales, service fees and other…View ↗
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10-K for FY2025, filed Mar 12, 2026
FY2025 revenue by product or service (Product sales) ↗
$164.6M
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10-K for FY2025, filed Mar 12, 2026
$164.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Direct sales
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
9.8%
FY2022: 21%
|
Direct sales, FY2025
$11.4M Sources
|
Sold outright |
|
Commercial sales
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
33%
FY2022: 28%
|
Commercial sales, FY2025
$38.4M Sources
|
Sold outright |
|
Inventory finance sales
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
32%
FY2022: 38%
|
Inventory finance sales, FY2025
$37.2M Sources
|
Sold outright |
|
Retail store sales
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
19%
FY2022: 8.8%
|
Retail store sales, FY2025
$22.6M Sources
|
Sold outright |
|
Other product sales
|
6.3%
FY2022: 5.2%
|
Other product sales, FY2025
$7.3M Sources
|
Who Are Their Customers?
Home buyers purchase through independent retailers and company-owned stores; manufactured-home community owners also buy directly. Legacy additionally serves recreational buyers and workforce-housing customers.
10-K for FY2025, filed Mar 12, 2026
Do Revenues Turn Into Profits?
Yes. It kept 25 cents of every revenue dollar as net income in FY2025 and turned 17 cents into free cash flow.
10-K for FY2025, filed Mar 12, 2026
$48.4MView ↗
10-K for FY2025, filed Mar 12, 2026
$41.8MView ↗
10-K for FY2025, filed Mar 12, 2026
$28.2MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 18, 2026
Kenneth Shipley appointed chairman and CEO
He had served as interim CEO; Curtis Hodgson had retired from the executive chairman and board roles.
Sources
8-K, filed Aug 18, 2026
On August 13, 2026, the Board of Directors of the Company appointed Kenneth E. Shipley, age 67, as Chairman of the Board and Chief…View ↗
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Jul 22, 2026
Curtis Hodgson retired as executive chairman and director
Sources
8-K, filed Jul 22, 2026
On July 17, 2026, Curtis D. Hodgson notified the Board of Directors (the “Board”) of Legacy Housing Corporation (the “Company”) of his…View ↗
Shrinking. Revenue fell 17% in 4 years, from $197.5M in FY2021 to $164.6M in FY2025, about 4% a year.
AmeriCasa added services
The AmeriCasa acquisition added property leasing and sales, insurance services, and software for manufactured-home retailers and communities to the home sales and financing business.
10-K for FY2022, filed Mar 15, 2023 10-K for FY2025, filed Mar 12, 2026We build, sell and finance manufactured homes and “tiny houses” that are distributed through a network of independent retailers and…View ↗
Effective November 1, 2025, we completed the acquisition of substantially all of the assets and certain membership interests of AmeriCasa…View ↗
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