Company: CVCO
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047849
Chunk: 59

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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,326 8,024,720 8,337,671 Net income per share Basic$6.62 $5.33 $13.12 $9.48 Diluted$6.55 $5.28 $12.96 $9.38 Anti-dilutive common stock equivalents excluded— 257 264 428 

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17. Fair Value Measurements

The book value and estimated fair value of our financial instruments were as follows (in thousands):September 27, 2025March 29, 2025BookValueEstimatedFair ValueBookValueEstimatedFair ValueAvailable-for-sale debt securities$23,197 $23,197 $21,415 $21,415 Marketable equity securities12,859 12,859 11,425 11,425 Non-marketable equity investments5,150 5,150 5,069 5,069 Consumer loans receivable52,883 54,402 56,537 59,365 Commercial loans receivable107,445 97,352 99,746 89,216 Other secured financing(1,535)(1,534)(1,594)(1,569)See Note 20, Fair Value Measurements, and the Fair Value of Financial Instruments caption in Note 1, Summary of Significant Accounting Policies, in the Form 10-K for more information on the methodologies we use in determining fair value.Mortgage Servicing. Mortgage Servicing Rights ("MSRs") are recorded at fair value in Prepaid expenses and other current assets on the Consolidated Balance Sheets.September 27,2025March 29,2025Number of loans serviced with MSRs3,550 3,647 Weighted average servicing fee (basis points)34.25 34.74 Capitalized servicing multiple170.69 %179.97 %Capitalized servicing rate (basis points)58.46 62.52 Serviced portfolio with MSRs (in thousands)$438,870 $451,080 MSRs (in thousands)$2,566 $2,820 

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18. Business Segment Information

We operate principally in two segments: (1) factory-built housing, which includes wholesale and retail factory-built housing operations and (2) financial services, which includes manufactured housing consumer finance and insurance, and qualifies as other activity under the segment reporting guidance as it does not meet the