Cavco manufactures and sells factory-built homes, primarily manufactured and modular units, alongside park model RVs and vacation cabins. As one of the largest producers in the U.S., Cavco targets the affordable housing market, serving customers such as first-time buyers and retirees. The company operates through two segments: Factory-Built Housing and Financial Services. The Factory-Built Housing segment designs and builds homes across 33 production lines in the U.S. and Mexico. Cavco distributes these homes through a network of independent distributors and 92 company-owned retail stores. Selling through its own retail locations allows Cavco to capture higher margins by keeping both the manufacturing and retail profits. The Financial Services segment provides mortgage lending through CountryPlace and property insurance through Standard Casualty, specifically for manufactured home buyers. Cavco's business model is driven by unit shipment volume and average selling prices, while input costs like lumber and OSB impact profitability. The company follows a build-to-order model, maintaining minimal finished goods inventory. Cavco’s growth strategy includes acquiring other manufacturers, such as American HomeStar, and expanding capacity through new facilities like its Arizona plant. Cavco has no long-term debt and prioritizes capital for plant modernization, acquisitions, and share repurchases.