Nobility Homes, Inc. reported a slight increase in total net sales for the fiscal year ending November 1, 2025, reaching $52.67 million, up from $51.93 million in the previous year. However, net income decreased to $8.45 million, or $2.59 per share, compared to $8.61 million, or $2.63 per share, in fiscal 2024. The company attributed the decline in profitability to a decrease in new retail home sales, which was offset by an increase in lower-margin sales to independent dealers. The average retail price of new manufactured homes rose to $158,231 from $150,219, reflecting adjustments made in response to rising material and labor costs.
Operationally, Nobility faced challenges including supply chain disruptions, labor shortages, and inflation, which impacted production timelines and costs. The company produced 391 homes in fiscal 2025, a decrease from the previous year, while the number of homes sold through its retail centers fell to 257 from 295. Despite these challenges, the company maintained a strong balance sheet with total assets of approximately $67.15 million and working capital of $46.87 million, up from $42.93 million in the prior year.
Nobility's retail subsidiary, Prestige Home Centers, continued to be a significant contributor to sales, accounting for 80% of total sales in fiscal 2025. The company operates ten retail sales centers in Florida, with a focus on the retirement community market. The company also reported a decrease in customer deposits, which fell to $2.80 million from $5.93 million, indicating a potential slowdown in customer purchasing activity.
Looking ahead, Nobility anticipates ongoing challenges related to material costs and labor availability, which may continue to affect sales and production in fiscal 2026. The company remains committed to monitoring these issues and adjusting its pricing strategies accordingly. Management expressed confidence in the long-term growth potential of the Florida housing market, citing favorable demographic trends and a growing demand for affordable housing.
About NOBILITY HOMES INC
Nobility Homes, Inc. designs, manufactures, and sells manufactured and modular homes primarily in Florida. It offers a broad range of home models for retail and wholesale markets, serving homebuyers, dealers, and retirement communities. The company operates retail sales centers, provides insurance and financial services, and leverages its manufacturing plant. Its value lies in quality, affordability, and vertical integration within the Florida housing market.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.