GRBK Green Brick Partners, Inc.

Overview and Growth

Fiscal 2025 results for Green Brick Partners, Inc. combined $2.04B of revenue with net income of $313.23M and an operating cash inflow of $213.24M. Revenue of $2.04B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $2.06B in fiscal 2024, revenue decreased 1.0%, a top-line contraction that reduced operating scale. Diluted earnings per share were $7.07, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 16.3% decrease from fiscal 2024 diluted EPS of $8.45. Total assets stood at $2.53B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.8x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $640.81M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 31.4% of revenue, quantifying the portion retained before operating expenses were recognized. Net income came to $313.23M, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 15.4%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $438.18M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 21.5% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $94.67M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 21.6%, without assuming a statutory-rate comparison. Net income equaled 16.7% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 12.4% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

The company held $2.53B of assets against $601.78M of liabilities and $1.88B of equity, revealing how the asset base was financed. Cash and equivalents totaled $190.99M, identifying the most liquid reported component available within the broader current-asset balance. Total debt was $323.27M, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 0.17x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 12.8% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 23.7%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 7.5%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 12.7% from $2.25B in fiscal 2024, leaving current total assets higher year over year. Reported equity changed 13.7% from $1.65B in fiscal 2024, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $213.24M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 0.68x, showing the relationship between accrual earnings and operating cash. Capital spending was $4.80M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 2.3%, connecting investment intensity with the company’s cash-generation base. After capital spending, free cash flow was $208.45M, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 10.2% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 8.2%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.