On this page of StockholderLetter.com we present the latest annual shareholder letter from Taylor Morrison Home Corp — ticker symbol TMHC. Reading current and past TMHC letters to shareholders can bring important insights into the investment thesis.
Annual Report 2024 I

To our shareholders, 2024 wasn t the year we anticipated, but honestly, when solutions and competitive finance incentives. And we ve has that ever been the case? taken our trusted reputation to new heights with our decade-long streak of being named America s Most If it s not a global pandemic, it s interest rate hikes, Trusted Home Builder by Lifestory Research, and the 12th geopolitical tensions, devastating natural disasters, a highest-ranking company in Forbes inaugural list of Most tumultuous election season, or another unforeseen Trusted Companies in America. circumstance no one could have predicted. Because I don t have a crystal ball showing me exactly what s in The culmination of a fruitful 2024 where we delivered store for us next, I ve learned to view any upcoming year top-tier financial results, transformed our operational as 12 months filled with unlimited possibility. capabilities, and doubled down on the customer and employee experience has brought us to the moment This is especially true when you consider the foundation we re in now the announcement of our long-term growth laid in 2024, where we met or exceeded each of the long- goal to deliver 20,000 homes annually by 2028, all while term goals we set for ourselves. What s more, we have generating attractive and improved returns. now pressure-tested our diversified product portfolio against a variety of macro-economic conditions and can Now we step boldly into a new era one that s ripe and confidently say it makes Taylor Morrison undeniably more ready for the taking. An opportunity for us to separate resilient in varying market conditions. from the pack and show our many stakeholders exactly what differentiates Taylor Morrison. We ve actively engaged with shoppers and buyers to understand their preferences and changing With the courage and conviction to chart our own path, demographics even going so far as to anticipate their we re eager to prove our value as a company and show needs with distinct product offerings, digital buying the industry why we re the one to watch. 3
2024 Financial Snapshot $8.2B 12,896 $7.8B TOTAL REVENUE HOMES DELIVERED HOME CLOSINGS REVENUE $601K 3.0 6.6 CLOSING ASP SALES PACE PER COMMUNITY YEARS OF LAND SUPPLY 4
$210M $2.4B $348M OPERATING CASH INVESTED IN LAND SHARES FLOW GENERATED AND DEVELOPMENT REPURCHASED 25.2% 23.9% $1.4B 2022 YEAR END LIQUIDITY GROSS MARGIN 2023 24.4% 2024 24.4% 2022 15.4% 15.8% 2023 2024 RETURN ON EQUITY Calculated as annual net income divided by the average of stockholders equity in the current and prior-year period. 5
 • shareholder letter icon 4/11/2025 Letter Continued (Full PDF)
 • stockholder letter icon 4/14/2023 TMHC Stockholder Letter
 • stockholder letter icon 4/10/2024 TMHC Stockholder Letter
 • stockholder letter icon More "General Contractors & Builders" Category Stockholder Letters
 • Benford's Law Stocks icon TMHC Benford's Law Stock Score = 86


TMHC Shareholder/Stockholder Letter Transcript:

Annual Report
2024
I                    



To our shareholders,
2024 wasn   t the year we anticipated, but honestly, when
solutions and competitive finance incentives. And we   ve
has that ever been the case?
taken our trusted reputation to new heights with our
decade-long streak of being named America   s Most
If it   s not a global pandemic, it   s interest rate hikes,
Trusted   Home Builder by Lifestory Research, and the 12th
geopolitical tensions, devastating natural disasters, a
highest-ranking company in Forbes    inaugural list of Most
tumultuous election season, or another unforeseen
Trusted Companies in America.
circumstance no one could have predicted. Because I
don   t have a crystal ball showing me exactly what   s in
The culmination of a fruitful 2024 where we delivered
store for us next, I   ve learned to view any upcoming year
top-tier financial results, transformed our operational
as 12 months filled with unlimited possibility.
capabilities, and doubled down on the customer and
employee experience has brought us to the moment
This is especially true when you consider the foundation
we   re in now   the announcement of our long-term growth
laid in 2024, where we met or exceeded each of the long-
goal to deliver 20,000 homes annually by 2028, all while
term goals we set for ourselves. What   s more, we have
generating attractive and improved returns.
now pressure-tested our diversified product portfolio
against a variety of macro-economic conditions and can
Now we step boldly into a new era   one that   s ripe and
confidently say it makes Taylor Morrison undeniably more
ready for the taking. An opportunity for us to separate
resilient in varying market conditions.
from the pack and show our many stakeholders exactly
what differentiates Taylor Morrison.
We   ve actively engaged with shoppers and buyers
to understand their preferences and changing
With the courage and conviction to chart our own path,
demographics   even going so far as to anticipate their
we   re eager to prove our value as a company and show
needs with distinct product offerings, digital buying
the industry why we   re the one to watch.
3

2024
Financial
Snapshot
$8.2B
12,896
$7.8B
TOTAL REVENUE
HOMES DELIVERED
HOME CLOSINGS REVENUE
$601K
3.0
6.6
CLOSING ASP
SALES PACE PER COMMUNITY
YEARS OF LAND SUPPLY
4

$210M
$2.4B
$348M
OPERATING CASH
INVESTED IN LAND
SHARES
FLOW GENERATED
AND DEVELOPMENT
REPURCHASED
25.2%
23.9%
$1.4B
2022
YEAR   END LIQUIDITY
GROSS MARGIN
2023
24.4%
2024
24.4%
2022
15.4%
15.8%
2023
2024
RETURN ON EQUITY   
Calculated as annual net income divided by the average of stockholders    equity in the current and prior-year period.

5



shareholder letter icon 4/11/2025 Letter Continued (Full PDF)
 

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