산업
Homebuilding
Homebuilding 산업의 모든 리포트 — 총 5건.
37/100
71Buffett
Toll Brothers 심층 리서치
Toll Brothers는 미국 럭셔리 주택 건설사로, FY2026 Q2 인도 주택의 평균 가격은 100.9만 달러로 미국 평균 신규 주택 가격의 거의 2배다. FY2026 인도 가이던스는 10400-10700채, 조정 매출총이익률은 약 26%로 상향됐지만, 표면상 11.2x P/E는 저렴해 보여도 오너 어닝스 수익률은 약 7.3%에 그쳐 성숙한 경기순환주로서는 안전마진이 충분하지 않다. 리서치 등급은 보유: 좋은 회사를 적정한 가격에 보유하는 구간이며, 110-120달러의 이상적 매수 구간에 가까워질 때 재검토하는 편이 낫다.
39/100
89Buffett
NVR Deep Value Investment Research
NVR is a U.S. asset-light homebuilder that sells homes through regional brands such as Ryan Homes while supporting buyers with in-house mortgage services. Its ROIC is far above peers and its capital allocation discipline is strong, but the business remains cyclical, rate-sensitive, and currently priced with a meaningful premium at about $6,105 per share. Research rating Watch: a high-quality compounder worth tracking, with an ideal buy range of $4,500 to $5,300.
39/100
71Buffett
PulteGroup Value Investing Research Report
The third-largest U.S. homebuilder, meaningfully higher quality than industry peers, still a narrow-moat cyclical stock. At $118.01 it sits close to fair value with an inadequate margin of safety. Rating Watch: a well-run operator worth tracking, not yet a buy.
41/100
Lennar Corporation: A Deep Value Investing Analysis
The second-largest U.S. homebuilder, with a sturdy balance sheet but operating in a highly cyclical industry with a weak moat. At about $89.75 — roughly 1x book value — the stock is neither expensive nor cheap. Rated Watch.
41/100
81Buffett
D.R. Horton Deep-Dive Value Investing Research
One of the largest new-home builders in the U.S.; in fiscal 2025 homebuilding contributed 92% of revenue and DHI Mortgage financed 81% of mortgages. At $145.6 the stock trades at 13.7x PE and 1.76x PB, neither cheap nor down to the conservative value of $80-95. Rating Watch; ideal buy $90-110.