On this page of StockholderLetter.com we present the latest annual shareholder letter from Century Communities, Inc. — ticker symbol CCS. Reading current and past CCS letters to shareholders can bring important insights into the investment thesis.


Dear Fellow Stockholders In 2025, we performed well in a challenging year for the new home market in which affordability and weaker consumer con dence weighed on demand. We grew our average community count of 318 communities by 13% on a year-over-year basis and delivered 10,792 residential units, which consisted of 10,387 new homes, 105 previously leased rental homes, and 300 multi-family units. Our direct construction costs on new home starts decreased by $13,000 per home versus the prior year, our cycle times fell by 13 days to a Company record of 114 days, and we reduced our SG&A expenses excluding commissions and advertising by 5% year-over-year. For the full year, we generated net income of $148 million, our 23rd year of consecutive pro tability, and increased our book value per share to a Company record $89.21. We also continued to return cash to our shareholders while maintaining a strong balance sheet. In the rst quarter of 2025, our Board of Directors announced a 12% increase in our quarterly cash dividend to $0.29 per share, which was further increased by 10% to $0.32 in early 2026. For the full year 2025, we repurchased 2.3 million shares of our common stock, or over 7% of shares outstanding at the beginning of the year, for $144 million at an average share price of $63.32, or a 29% discount to our ending book value per share of $89.21. We ended the year with a net homebuilding debt to net capital of 25.9%, $1.1 billion of liquidity, and $2.6 billion in stockholders equity, and generated cash ow from operations of over $150 million. During the year, we closed on a private offering of $500 million of 6.625% Senior Notes due 2033, with the proceeds used to redeem our $500 million 6.750% Senior Notes due 2027. As a result, we do not have any senior debt maturities until 2029. Century also received several recognitions in 2025 that highlight our commitment to both our employees and our customers. Newsweek named the Company one of America s Most Trustworthy Companies for three consecutive years, while Century was also designated as one of U.S. News & World Report s Best Companies to Work For (2025 2026). With a platform stretching across 16 states and over 45 markets, a strong balance sheet, and exible, lower-risk land position that is supportive of attractive growth, Century is well positioned to navigate 2026 and the years ahead.
Company Overview Century Communities, Inc. (NYSE: CCS) is one of the nation s largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America s Most Trustworthy Companies for three consecutive years, and Century Communities has also been designated as one of U.S. News & World Report s Best Companies to Work For (2025 2026). Through its Century Communities and Century Complete brands, Century s mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM . Century is engaged in all aspects of homebuilding including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans , Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries.

 • shareholder letter icon 3/25/2026 Letter Continued (Full PDF)
 • stockholder letter icon 3/22/2023 CCS Stockholder Letter
 • stockholder letter icon 3/27/2024 CCS Stockholder Letter
 • stockholder letter icon 3/26/2025 CCS Stockholder Letter
 • stockholder letter icon More "Construction" Category Stockholder Letters
 • Benford's Law Stocks icon CCS Benford's Law Stock Score = 100


CCS Shareholder/Stockholder Letter Transcript:



Dear
Fellow Stockholders
In 2025, we performed well in a challenging
year for the new home market in which
affordability and weaker consumer con   dence
weighed on demand. We grew our average
community count of 318 communities by
13% on a year-over-year basis and delivered
10,792 residential units, which consisted of
10,387 new homes, 105 previously leased
rental homes, and 300 multi-family units.
Our direct construction costs on new home
starts decreased by $13,000 per home versus
the prior year, our cycle times fell by 13 days to
a Company record of 114 days, and we reduced
our SG&A expenses excluding commissions
and advertising by 5% year-over-year. For
the full year, we generated net income of
$148 million, our 23rd year of consecutive
pro   tability, and increased our book value per
share to a Company record $89.21.
We also continued to return cash to our
shareholders while maintaining a strong
balance sheet. In the    rst quarter of 2025, our
Board of Directors announced a 12% increase
in our quarterly cash dividend to $0.29 per
share, which was further increased by 10% to
$0.32 in early 2026. For the full year 2025, we
repurchased 2.3 million shares of our common
stock, or over 7% of shares outstanding at the
beginning of the year, for $144 million at an
average share price of $63.32, or a 29% discount
to our ending book value per share of $89.21.
We ended the year with a net homebuilding
debt to net capital of 25.9%, $1.1 billion of
liquidity, and $2.6 billion in stockholders    equity,
and generated cash    ow from operations of
over $150 million. During the year, we closed
on a private offering of $500 million of 6.625%
Senior Notes due 2033, with the proceeds used
to redeem our $500 million 6.750% Senior
Notes due 2027. As a result, we do not have
any senior debt maturities until 2029.
Century also received several recognitions in
2025 that highlight our commitment to both
our employees and our customers. Newsweek
named the Company one of America   s Most
Trustworthy Companies for three consecutive
years, while Century was also designated
as one of U.S. News & World Report   s Best
Companies to Work For (2025   2026).
With a platform stretching across 16 states
and over 45 markets, a strong balance sheet,
and    exible, lower-risk land position that is
supportive of attractive growth, Century is
well positioned to navigate 2026 and the
years ahead.

Company
Overview
Century Communities, Inc. (NYSE: CCS) is one of
the nation   s largest homebuilders and a recognized
industry leader in online home sales. Newsweek
has named the Company one of America   s Most
Trustworthy Companies for three consecutive
years, and Century Communities has also been
designated as one of U.S. News & World Report   s
Best Companies to Work For (2025   2026). Through
its Century Communities and Century Complete
brands, Century   s mission is to build attractive,
high-quality homes at affordable prices to provide
its valued customers with A HOME FOR EVERY
DREAM  .
Century is engaged in all aspects of homebuilding
    including the acquisition, entitlement and
development of land, along with the construction,
innovative marketing and sale of quality homes
designed to appeal to a wide range of homebuyers.
The Company operates in 16 states and over 45
markets across the U.S., and also offers mortgage,
title, insurance brokerage, and escrow services in
select markets through its Inspire Home Loans  ,
Parkway Title, IHL Home Insurance Agency, and IHL
Escrow subsidiaries.


shareholder letter icon 3/25/2026 Letter Continued (Full PDF)
 

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