At a glance
Skyline Corporation is worth $4.29B, about 22 times its fiscal 2026 earnings. Revenue grew 7.3% to $2.66B in fiscal 2026, with 7.8% kept as profit; over 5 years it has grown 13.4% a year. It pays no dividend; it spent $280.0M buying back its shares over FY2022–FY2026. The stock returned +9.3% over the past year with dividends reinvested and +4.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 53.1% in the 2020 crash (S&P 500: 33.7%) and 44.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 20 months after the lows.
The business in plain English
Champion Homes builds houses in factories. Its range includes manufactured homes (built to a federal standard and delivered on a steel frame), modular homes (built in sections to local building codes and set on a foundation), park model RVs (small vacation units), accessory dwelling units, or ADUs (small second homes on a lot), and modular buildings for single- and multi-family projects. Brands include Champion Homes, Skyline Homes and Titan Homes, plus Moduline and SRI Homes in western Canada.
Net sales were about $2.7 billion in the fiscal year ended March 28, 2026. They came from 46 plants in 20 US states and three western Canadian provinces. The company says it ranked second among US manufactured-home makers and first among US modular builders by units in calendar 2025. Manufacturing builds homes and sells them through independent retailers, community operators, government agencies and developers. It brought in about $1.65 billion, or 62% of sales. Company-owned retail, with 84 sales centers, added about $976 million, or 37%. Star Fleet Trucking added about 1%.
Champion Construction installs homes. Champion Financing, a joint venture with Triad Financial Services started in fiscal 2025, lends to retailers to stock their lots (floor plan financing) and to homebuyers. Price is the draw: the company says factory-built homes cost up to 50% less per square foot than site-built homes.
Price history
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SKY +9.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Manufacturing | $1.65B | 62% |
| Retail | $975.5M | 36.6% |
| Transportation | $36.8M | 1.4% |
Latest results
- In Q1 FY2027 (ended Jun 27, 2026), revenue was $710.2M, up 1.3% from a year earlier, and net income was $49.2M (-24.0%).
- For fiscal 2026, revenue was $2.66B (+7.3% year over year; +13.4% a year from FY2021 to FY2026) with a 7.8% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +13.4% good |
|---|---|
| Operating margin | 9.5% watch |
| Free cash flow margin | 10.1% good |
| Return on equity (FY2026) | 13.2% watch |
| Return on assets (FY2026) | 9.7% good |
| Net cash (cash minus debt) | $760.9M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.42B | $84.9M | $145.9M |
| FY2022 | $2.21B | $248.0M | $192.5M |
| FY2023 | $2.61B | $401.8M | $364.0M |
| FY2024 | $2.02B | $146.7M | $169.8M |
| FY2025 | $2.48B | $198.4M | $190.3M |
| FY2026 | $2.66B | $206.9M | $269.7M |
Valuation snapshot
| Market value | $4.29B |
|---|---|
| P/E ratio | 21.6 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
Skyline’s market value went from $5.06B at the end of 2024 to $4.29B on Oct 28, 2026, down 15%; since the end of 2025 it is down 9%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $4.29B | -9.0% |
| 2025 | $4.72B | -6.7% |
| 2024 | $5.06B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SKY price data to Oct 28, 2026 | -6.4% | +9.3% | +10.4% | +4.6% | +21.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -6.4% |
| 2025 | -4.1% |
| 2024 | +18.6% |
| 2023 | +44.2% |
| 2022 | -34.8% |
| 2021 | +155.3% |
| 2020 | -2.4% |
| 2019 | +115.8% |
| 2018 | +18.8% |
| 2017 | -16.7% |
| 2016 | +333.9% |
| 2015 | -12.3% |
| 2014 | -21.5% |
| 2013 | +27.1% |
| 2012 | -6.7% |
| 2011 | -82.9% |
| 2010 | +46.9% |
| 2009 | -4.3% |
| 2008 | -29.9% |
| 2007 | -25.3% |
| 2006 | +18.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 57% over that stretch · deepest drop along the way 57.4%, back to its old high 110.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 51.2% over that stretch · deepest drop along the way 53.1%, back to its old high 4.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 29.7% over that stretch · deepest drop along the way 44.8%, back to its old high 19.7 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 5 sales ($1.1M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 5, 2026 | Joseph A. Kimmell EVP, Operations | sell | $382K |
| Jun 9, 2026 | Joseph A. Kimmell EVP, Operations | sell | $304K |
| Jun 5, 2026 | Joseph A. Kimmell EVP, Operations | sell | $217K |
| Aug 10, 2026 | Michael B Berman Director | sell | $140K |
| Aug 7, 2026 | Erin Claire Helgren Director | sell | $105K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 15.1% | Sep 30, 2025 |
| Wellington Management Group LLP | 6.8% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.64% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.4% | Jun 30, 2026 |
| Vanguard Capital Management | 5.24% | Mar 31, 2026 |
| Wasatch Advisors LP | 4.9% | Sep 30, 2026 |
ETFs with the most weight in SKY
| XHB SPDR S&P Homebuilders ETF | 3.22% |
| PSCD Invesco S&P SmallCap Consumer Discretionary ETF | 2.96% |
| CBLS Hedged Equity ETF | 2.28% |
| ITB iShares U.S. Home Construction ETF | 1.84% |
| VIOG Vanguard S&P Small-Cap 600 Growth ETF | 0.8% |
| IJT iShares S&P Small-Cap 600 Growth ETF | 0.77% |
| HAPS Harbor Human Capital Factor US Small Cap ETF | 0.76% |
| QMID WisdomTree U.S. MidCap Quality Growth Fund | 0.51% |
What could go wrong
- Tight retailer financing and repurchase obligations. Retailers borrow to stock their lots, and only a limited number of lenders offer these loans. If a retailer defaults, Champion may have to repurchase homes from the lender.
- Zoning rules can limit where homes go. Local zoning ordinances decide where factory-built homes may be placed. If the industry cannot secure favorable rules, buyers have fewer places to put a home and Champion's sales could decline.
- Reliance on independent retailers. Many of Champion's homes reach buyers through independent retailers and community operators it does not control. If it cannot keep or add these relationships, sales could fall.
- Housing slumps, interest rates and seasonality. Sales depend on jobs, consumer confidence, interest rates and access to loans. In a downturn, Champion could face lower prices, inventory write-downs and losses. Sales are typically stronger from March to November.
- Material costs, supplier limits and tariffs. Homes use lumber, steel, insulation and drywall, and some key parts come from only a few suppliers. Shortages or tariffs, which the US increased in fiscal 2025, could lift costs and slow production.
- Labor shortages and wage inflation. Plants depend on steady crews. Labor shortages, turnover and rising wages can raise costs and limit output. The company is adding automation partly to reduce its reliance on direct labor.
Recent events
- Investor presentation or announcement
- Executive or board change; Other company announcement
- Quarterly results released; Other company announcement
- Shareholder vote results
- Executive or board change
- Quarterly results released; Other company announcement
- Other company announcement
- Executive or board change
- Quarterly results released; Other company announcement
- Executive or board change; Investor presentation or announcement
For income and retirement investors
Champion Homes does not pay a dividend. Its annual report says it expects to pay no cash dividends for the foreseeable future. So cash from this holding would have to come from selling shares. Instead of dividends, the company has bought back its own stock: $80 million in fiscal 2025 and $200 million in fiscal 2026. Buybacks spread future profits over fewer shares. The share count fell 4.4% from October 2021 to July 2026. As of June 27, 2026, it held about $785 million in cash and investments against about $24 million of debt.
The shares have swung hard in downturns. They fell 57% in the 2008 financial crisis and took over nine years to recover, finally doing so in May 2018. They dropped 53% in the 2020 COVID crash but recovered within about five months. They lost 45% in the 2022 bear market and regained their peak in February 2024. A single stock like this carries more risk than a diversified fund.
Questions investors ask
How does Champion Homes make money?
Mostly by building homes in its factories and selling them. In the fiscal year ended March 28, 2026, manufacturing brought in about $1.65 billion, or 62% of the company's $2.66 billion in sales. Its company-owned retail business, with 84 sales centers at year-end, added about $976 million, or 37%. Star Fleet Trucking added about 1%. Champion also installs homes through Champion Construction. It offers loans to retailers and homebuyers through Champion Financing, its joint venture with Triad Financial Services.
Does Champion Homes pay a dividend?
No. Champion Homes does not pay a cash dividend. Its annual report for the fiscal year ended March 28, 2026 says it expects to pay none for the foreseeable future. It has returned cash through share buybacks instead, spending about $280 million from fiscal 2022 through fiscal 2026, including $200 million in fiscal 2026. Investors who want regular income from this holding would have to raise it by selling shares.
Is Champion Homes profitable?
Yes. In the fiscal year ended March 28, 2026, Champion Homes earned about $207 million on $2.66 billion of sales, or roughly 7.8 cents of profit per dollar of sales. Net income rose 4.3% from the prior year, but earnings of $3.66 per share were well below the $7.00 earned in fiscal 2023. Profits can swing: in the quarter ended June 27, 2026, sales rose 1.3% from a year earlier while net income fell 24%.
Is Champion Homes stock risky?
Its share price has swung widely. As of October 28, 2026, the stock's one-year volatility, a measure of how much the price moves around, was 44.8%. Its largest drop in the 12 months to that date was 33%. It fell 57% in the 2008 financial crisis, 53% in the 2020 COVID crash and 45% in the 2022 bear market. Price gains have been large but uneven: about 21.7% a year over the 10 years to that date, but 4.6% a year over five.
Is Champion Homes the same company as Skyline Champion?
Yes. Champion Homes, Inc. was formerly called Skyline Champion Corporation, and its earlier names include Skyline Corp. It is an Indiana corporation with headquarters in Troy, Michigan, and its shares trade on the NYSE under the ticker SKY. Skyline Homes is still one of its brands, along with Champion Homes, Genesis Homes, Titan Homes and others in the US, and Moduline and SRI Homes in western Canada.