LGIH · 10-Q · 2026Q1 · Full report

Liquidity and Cash Position

LGI Homes, Inc. · 2026-04-28 · Importance 56 · Surprise 24

As of March 31, 2026, the company held $60.9 million of cash and cash equivalents and reported total debt (notes payable) of $1,709.457 million, with net debt of $1,648.597 million and total equity of $2,102.414 million, yielding a net debt to capital ratio of 44.0%. Management states $294.2 million was available to borrow under the Credit Agreement as of March 31, 2026 and that they were in compliance with borrowing covenants. The company believes it can fund its current and foreseeable liquidity needs for at least the next twelve months using cash on hand, operating cash flows and available borrowing capacity, while noting access could be constrained by volatile capital markets. Principal long-term uses of capital cited include land/lot purchases, lot development, share repurchases, capex and debt maturities between 2028 and 2032.

Key facts

• As of March 31, 2026, the company had $60.9 million of cash and cash equivalents.
• As of March 31, 2026, total equity was $2,102,414 thousand ($2.102414 billion).
• As of March 31, 2026, total capital was $3,811,871 thousand and the debt to capital ratio was 44.8%.
• The company believes it will be able to fund its current and foreseeable liquidity needs for at least the next twelve months with cash on hand, cash generated from operations and cash expected to be available from the Credit Agreement or by accessing debt or equity capital as needed.
• Long-term principal uses of liquidity and capital resources include inventory related purchases (land, lot development), repurchases of common stock, other capital expenditures, and principal and interest payments on debt obligations maturing between 2028 and 2032.

Impact estimates