Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026

Legacy Housing Corp (LEGH)

A forensic read on Legacy Housing Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Safe

Financial health

16.5

Distress distance

Clean

Earnings quality

Forensic signals

16.3

P / E (ttm)

7.9%

ROE

$676M

Market cap

-10.7%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Legacy Housing Corp earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 16.5, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by cash conversion.

What the filings flag

0.38×

FY2023–FY2025

Cash conversion. Over FY2023–FY2025, operating cash flow was 0.38× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.

166d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 159 to 166 FY2024→FY2025 (against cost of goods sold; inventory +6% vs -6% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.

7.5%

FY2025

Return on invested capital. Return on invested capital is 7.5% in the latest fiscal year and slipping from 16% — slightly below its ~9% cost of capital — reinvestment is roughly a wash.

Key fundamentals

Latest Revenue$164.6M

Revenue Growth YoY-10.7%

Net Margin25.4%

Free Cash Flow$28.2M

Return on Equity7.9%

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.