Green Brick Partners, Inc. (GRBK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Green Brick Partners, Inc. (GRBK) representa una fuerza dinámica en el panorama inmobiliario residencial, transformando estratégicamente la experiencia de construcción de viviendas en los mercados de Texas. Al integrar perfectamente estrategias de desarrollo innovadoras, tecnologías de construcción de vanguardia y un enfoque centrado en el cliente, esta compañía ha forjado un nicho distintivo en la entrega de soluciones de vivienda asequibles de alta calidad. Su lienzo de modelo de negocio integral revela un plan sofisticado que va más allá de la construcción tradicional de viviendas, ofreciendo a los posibles propietarios de viviendas no solo una estructura, sino un camino meticulosamente elaborado hacia la propiedad de la vivienda impulsada por el valor que resuena con compradores primerizos, profesionales jóvenes y familias en crecimiento.

Green Brick Partners, Inc. (GRBK) - Modelo de negocios: asociaciones clave

Desarrolladores de tierras y empresas de adquisición de bienes raíces

A partir del cuarto trimestre de 2023, Green Brick Partners colaboró ​​con 17 socios regionales de desarrollo de tierras en Texas. El gasto total de adquisición de tierras de la compañía fue de $ 213.4 millones en 2023.

Tipo de socio	Número de asociaciones	Enfoque geográfico
Empresas de desarrollo de tierras	17	Áreas metropolitanas de Texas

Proveedores de materiales de construcción

Green Brick Partners mantuvo relaciones estratégicas con 23 proveedores de materiales de construcción en 2023.

• Proveedores de madera primaria: 7 proveedores regionales
• Proveedores de concreto y agregados: 6 empresas
• Materiales para techos y acabados: 10 proveedores especializados

Gobierno local y autoridades municipales

La Compañía se dedicó a 12 autoridades municipales de Texas para aprobaciones y permisos de desarrollo en 2023.

Región	Municipios comprometidos	Permitir aprobaciones
Dallas-Fort Worth	5	42 desarrollos residenciales
Área metropolitana de Austin	4	28 desarrollos residenciales
Región de Houston	3	19 desarrollos residenciales

Instituciones financieras y socios de préstamo

En 2023, Green Brick Partners trabajó con 9 instituciones financieras para financiamiento de proyectos.

• Facilidades de crédito total: $ 450 millones
• Partners de préstamos principales: Wells Fargo, Bank of America, JPMorgan Chase
• Tasas de interés promedio: 6.75% - 7.25%

Firmas arquitectónicas y de diseño

La compañía colaboró ​​con 15 firmas de arquitectura y diseño en 2023.

Tipo firme	Número de empresas	Especialización
Empresas de diseño residencial	12	Diseños unifamiliares y multifamiliares
Empresas de planificación urbana	3	Diseños comunitarios planificados en maestría

Green Brick Partners, Inc. (GRBK) - Modelo de negocio: actividades clave

Desarrollo de tierras residenciales

A partir del cuarto trimestre de 2023, Green Brick Partners desarrolló tierras residenciales en los mercados de Texas, con 3,175 lotes totales en inventario. El gasto en desarrollo de tierras para 2023 fue de aproximadamente $ 128.5 millones.

Mercado	Lotes en inventario	Gasto de desarrollo
Dallas-Fort Worth	1,875 lotes	$ 76.3 millones
Austin	825 lotes	$ 35.2 millones
Houston	475 lotes	$ 17 millones

Construcción y ventas de viviendas

En 2023, Green Brick Partners completó y vendió 1.075 casas con un precio de venta promedio de $ 487,000.

• Casas unifamiliares: 825 unidades
• Casas adosadas: 250 unidades

Adquisición de propiedades y banca terrestre

El gasto total de adquisición de tierras para 2023 fue de $ 95.7 millones, asegurando 4.250 acres de desarrollo futuro.

Región	Acres adquiridos	Costo de adquisición
North Texas	2,575 acres	$ 58.3 millones
Texas central	1.175 acres	$ 26.4 millones
Metro de Houston	500 acres	$ 11 millones

Gestión de proyectos de construcción

Tiempo promedio del ciclo de construcción: 8.5 meses. Costo total de construcción por casa: $ 345,000.

Investigación de mercado y planificación estratégica

Inversión anual de investigación de mercado: $ 2.3 millones. Investigación centrada en turnos demográficos, demanda de vivienda y tendencias de precios.

• Frecuencia de análisis de mercado: trimestralmente
• Sesiones de planificación estratégica: bi-anual

Green Brick Partners, Inc. (GRBK) - Modelo de negocio: recursos clave

Fuerza laboral de construcción y desarrollo calificado

A partir del cuarto trimestre de 2023, Green Brick Partners empleó a 332 empleados a tiempo completo en sus operaciones. Desglose de los empleados:

Departamento	Número de empleados
Gestión de la construcción	124
Desarrollo de la tierra	68
Ventas y marketing	92
Administración corporativa	48

Cartera de tierras patentadas

Lands Holdings al 31 de diciembre de 2023:

• Inventario total de tierras: 3,421 acres
• Valor de tierra estimado: $ 412.6 millones
• Concentración geográfica:
  • Dallas-Fort Worth: 1,876 acres
  • Austin: 892 acres
  • Houston: 653 acres

Capital financiero y facilidades de crédito

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Equivalentes totales de efectivo y efectivo	$ 87.3 millones
Facilidades de crédito disponibles	$ 250 millones
Equidad total de los accionistas	$ 539.2 millones

Tecnología de construcción avanzada

Inversiones tecnológicas en 2023:

• Plataformas de gestión de construcción digital: $ 2.4 millones
• Licencias de software de modelado de información de construcción (BIM): $ 620,000
• Equipo de topografía de drones: $ 340,000

Reputación de marca establecida

Métricas de rendimiento de la marca:

Métrico	Valor
Total de casas entregadas en 2023	1,247
Precio promedio de la vivienda	$489,600
Calificación de satisfacción del cliente	4.6/5

Green Brick Partners, Inc. (GRBK) - Modelo de negocio: propuestas de valor

Vivienda residencial asequible de alta calidad

A partir del cuarto trimestre de 2023, Green Brick Partners informó:

Métrico	Valor
Precio promedio de la vivienda	$425,000
Casas entregadas	1,257 unidades
Ingresos de las ventas residenciales	$ 535.4 millones

Opciones de diseño de hogar personalizables

Green Brick Partners ofrece flexibilidad de diseño en todos los mercados:

• 3-5 Variaciones de plano de planta por comunidad
• Selecciones de diseño exterior personalizado
• Paquetes de acabado interior que van desde $ 15,000- $ 50,000

Enfoque de mercado geográfico estratégico

Mercado	Casas vendidas	Ganancia
Texas	872 unidades	$ 370.2 millones
Georgia	385 unidades	$ 165.2 millones

Procesos eficientes de construcción y desarrollo

Métricas de eficiencia de construcción:

• Tiempo de construcción promedio: 4-6 meses
• Costo de adquisición de tierras: 15-20% del costo total del proyecto
• Margen bruto en ventas de viviendas: 22.4%

Oportunidades de propiedad de la vivienda basadas en el valor

Métrico de propiedad	Valor
Precio promedio de la casa	$425,000
Tasa de calificación de la hipoteca	68%
Porcentaje de comprador de vivienda por primera vez	42%

Green Brick Partners, Inc. (GRBK) - Modelo de negocios: relaciones con los clientes

Experiencia personalizada de compra de viviendas

A partir del cuarto trimestre de 2023, Green Brick Partners reportó 1,246 cierres totales del hogar con un precio de venta promedio de $ 487,300. La compañía mantiene un enfoque personalizado a través de representantes de ventas dedicados para cada comprador potencial.

Métrica de interacción del cliente	2023 datos
Tiempo promedio de interacción con el cliente	4.2 horas por comprador potencial
Tasa de satisfacción del cliente	87.6%
Tarifa de cliente repetida	22.3%

Plataformas de ventas y marketing digitales

Green Brick Partners utiliza múltiples canales digitales para la adquisición de clientes:

• Tráfico del sitio web: 342,000 visitantes únicos en 2023
• Compromiso de las redes sociales: 78,500 seguidores en todas las plataformas
• Tasa de conversión de plomo en línea: 14.7%

Atención al cliente durante todo el proceso de compra de viviendas

La compañía mantiene un Equipo de atención al cliente dedicado Con las siguientes métricas:

Canal de soporte	Tiempo de respuesta	Volumen anual
Soporte telefónico	Promedio de 12 minutos	24,300 llamadas
Soporte por correo electrónico	Promedio de 6 horas	18,750 correos electrónicos
Chat en vivo	Promedio de 3 minutos	42,600 interacciones

Servicios de garantía y mantenimiento posterior a la venta

Green Brick Partners ofrece servicios completos de post-venta:

• Cobertura de garantía estándar: estructural de 10 años, mecánico de 2 años
• Solicitudes de servicio de mantenimiento en 2023: 3.750
• Tiempo de resolución promedio: 48 horas

Mecanismos de participación de la comunidad y comentarios de los clientes

Los canales de comentarios de los clientes incluyen:

Método de retroalimentación	2023 Participación	Calificación promedio
Encuestas en línea	2.100 encuestados	4.3/5
Revisiones posteriores a la compra	1.850 presentaciones	4.2/5
Eventos comunitarios	12 eventos	93% de satisfacción del asistente

Green Brick Partners, Inc. (GRBK) - Modelo de negocios: canales

Equipos de ventas directos

A partir del cuarto trimestre de 2023, Green Brick Partners emplea a aproximadamente 87 representantes de ventas directas en los mercados de Texas.

Región de ventas	Número de representantes de ventas	Volumen de ventas promedio
Dallas-Fort Worth	42	$ 38.7 millones
Austin	22	$ 24.3 millones
Houston	23	$ 19.5 millones

Sitio web en línea y plataformas de marketing digital

Métricas de canal digital para 2023:

• Sitio web Visitantes mensuales: 127,500
• Tasa de conversión de plomo en línea: 3.2%
• Gasto de marketing digital: $ 1.4 millones anualmente

Redes de corredores de bienes raíces

Estadísticas de asociación del corredor:

Tipo de red	Número de socios	Estructura de comisión
Corredores independientes	63	2.5% - 3.0%
Empresas de corretaje regional	22	2.0% - 2.5%

Modelas de exhibiciones caseras

Detalles de exhibición de casas modelo:

• Total Model Homes: 18
• Tráfico promedio de visitantes por mes: 1.200
• Tasa de conversión de las visitas al hogar modelo: 4.7%

Redes sociales y publicidad digital

Plataforma	Seguidores/alcance	Tasa de compromiso
Facebook	42,300	2.8%
Instagram	35,700	3.2%
LinkedIn	12,500	1.9%

Green Brick Partners, Inc. (GRBK) - Modelo de negocio: segmentos de clientes

Compradores de vivienda por primera vez

A partir del cuarto trimestre de 2023, Green Brick Partners se dirige a compradores de viviendas por primera vez con características específicas del mercado:

Segmento demográfico	Datos estadísticos
Rango de edad	25-40 años
Ingreso mediano	$75,000 - $110,000
Tamaño del mercado objetivo	32% del mercado de compras de viviendas

Compradores residenciales de mudanza

Green Brick Partners se centra en los compradores residenciales de mudanza con los siguientes profile:

• Ingresos del hogar: $ 125,000 - $ 250,000
• Rango típico de precios de la vivienda: $ 350,000 - $ 600,000
• Concentración geográfica: áreas metropolitanas de Texas

Familias de ingresos medios

Análisis de segmento de mercado para familias de ingresos medios:

Categoría	Datos específicos
Ingresos anuales al hogar	$65,000 - $120,000
Volumen de compra de la casa	27% del mercado residencial total
Tamaño del hogar preferido	1.800 - 2,800 pies cuadrados

Jóvenes profesionales

Características de segmento profesionales jóvenes específicos:

• Rango de edad: 28-38 años
• Ingresos anuales promedio: $ 95,000
• Ubicación preferida: áreas urbanas y suburbanas
• Rango de precios de la vivienda: $ 250,000 - $ 450,000

Residentes del mercado suburbano y metropolitano

Desglose del mercado para clientes suburbanos y metropolitanos:

Tipo de mercado	Porcentaje de la base de clientes	Valor promedio de la casa
Mercados suburbanos	62%	$375,000
Mercados metropolitanos	38%	$425,000

Green Brick Partners, Inc. (GRBK) - Modelo de negocio: Estructura de costos

Gastos de adquisición de tierras

A partir del cuarto trimestre de 2023, Green Brick Partners gastó $ 138.4 millones en adquisición y desarrollo de tierras. El costo promedio por lote fue de aproximadamente $ 85,000.

Categoría de adquisición de tierras	Gasto total ($ M)
Cartera de tierras de Texas	92.6
Cartera de tierras de Georgia	45.8

Material de construcción y costos de mano de obra

Los costos de construcción para 2023 totalizaron $ 354.2 millones, con gastos de materiales que representan el 62% de los gastos totales de construcción.

• Costos de madera: $ 87.3 millones
• Concreto y mampostería: $ 53.6 millones
• Salarios laborales: $ 112.5 millones
• Gastos del subcontratista: $ 100.8 millones

Gastos de marketing y ventas

Los gastos de marketing para 2023 fueron de $ 22.1 millones, lo que representa el 3.2% de los ingresos totales.

Canal de marketing	Gasto ($ M)
Marketing digital	8.4
Publicidad tradicional	6.7
Comisión de ventas	7.0

Sobrecarga administrativa

Los costos administrativos para 2023 ascendieron a $ 41.3 millones.

• Compensación ejecutiva: $ 12.6 millones
• Gastos de la oficina corporativa: $ 7.9 millones
• Servicios profesionales: $ 5.8 millones
• Beneficios para empleados: $ 15.0 millones

Inversiones de tecnología e infraestructura

Las inversiones en tecnología totalizaron $ 9.7 millones en 2023.

Categoría de inversión tecnológica	Gasto ($ M)
Software y servicios en la nube	4.2
Infraestructura de hardware	2.5
Ciberseguridad	3.0

Green Brick Partners, Inc. (GRBK) - Modelo de negocios: flujos de ingresos

Ingresos de ventas de viviendas

A partir del tercer trimestre de 2023, Green Brick Partners reportó $ 456.7 millones en ingresos por ventas de viviendas. La compañía vendió 1,081 casas durante este período, con un precio de venta promedio de $ 422,500.

Métrico	Valor
Total de casas vendidas (tercer trimestre de 2023)	1,081
Precio promedio de venta de viviendas	$422,500
Ingresos totales de ventas de viviendas	$ 456.7 millones

Ventas de desarrollo de tierras

Las ventas de desarrollo de tierras para Green Brick Partners generaron $ 87.3 millones en ingresos durante 2023, lo que representa el 15.2% de los ingresos totales de la compañía.

• Ingresos totales para el desarrollo de la tierra: $ 87.3 millones
• Porcentaje de ingresos totales: 15.2%
• Mercados geográficos: Texas y Georgia

Apreciación de la propiedad

La cartera de propiedades de la compañía apreciada por 7.4% En 2023, generando un valor adicional de $ 124.6 millones.

Tarifas de hipotecas y financiamiento

Las tarifas de hipoteca y financiamiento contribuyeron con $ 23.5 millones a los ingresos de la Compañía en 2023.

Servicio de financiación	Ganancia
Tarifas de origen de la hipoteca	$ 18.2 millones
Tarifas de procesamiento de préstamos	$ 5.3 millones

Servicios de bienes raíces auxiliares

Los servicios auxiliares generaron $ 42.1 millones en ingresos adicionales durante 2023.

• Tarifas de administración de propiedades: $ 16.7 millones
• Servicios de consultoría: $ 12.4 millones
• Servicios de renovación en el hogar: $ 13.0 millones

Green Brick Partners, Inc. (GRBK) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Green Brick Partners, Inc. over the competition as of late 2025. It's not just about the house; it's about the execution and the financial stability backing the build.

The company consistently delivers industry-leading profitability, which is a huge value proposition because it suggests better operational control and financial health for the customer. For the third quarter of 2025, Green Brick Partners, Inc. reported homebuilding gross margins of 31.1%. This marks the tenth consecutive quarter that these gross margins have remained above 30%, positioning Green Brick Partners, Inc. at the top of the public homebuilding industry in this metric.

This focus on high margins is tied directly to their land strategy. Approximately 80% of home closings revenue in Q3 2025 came from homes built in infill and infill-adjacent locations. This strategy of sourcing and self-developing land in these desirable submarkets is what management believes provides a meaningful competitive advantage.

You see the quality of their customer relationships reflected in their low cancellation rate. In Q3 2025, the sales cancellation rate was only 6.7%. Management noted this figure is among the lowest when compared to their public company peers.

Here's a quick look at how some of these operational strengths translate:

• Homebuilding Gross Margin (Q3 2025): 31.1%
• Sales Cancellation Rate (Q3 2025): 6.7%
• Revenue from Infill Locations (Q3 2025): Approximately 80%
• Net New Orders (Q3 2025): 898 units, a record for any third quarter

Green Brick Partners, Inc. also offers an integrated homebuying experience. They operate wholly owned subsidiaries for financial services, specifically Green Brick Mortgage and Green Brick Insurance. The plan is to expand these in-house companies throughout their operating markets.

The commitment to superior customer service and quality craftsmanship is evidenced by the recognition their subsidiary builders receive. For example, in November 2025, CB JENI Homes was named a Top Workplace in Dallas-Fort Worth for 2025, and The Providence Group won multiple OBIE Awards, including two Community of the Year honors.

To be fair, the average selling price (ASP) did decrease year-over-year to $524,000 in Q3 2025 as they adjusted pricing to address affordability pressures. Still, the ability to maintain margins above 30% while managing price points is a key differentiator.

Value Proposition Component	Metric / Data Point	Period / Context
Profitability Leadership	Homebuilding Gross Margin of 31.1%	Q3 2025
Location Quality	Revenue from Infill/Infill-Adjacent Locations	Approximately 80% in Q3 2025
Customer Retention/Trust	Sales Cancellation Rate of 6.7%	Q3 2025
Service Quality Recognition	Awards won by subsidiary builders (e.g., OBIE Awards)	November 2025
Integrated Experience	Wholly owned Mortgage and Insurance companies	Expansion planned throughout markets

Finance: review the Q3 2025 SG&A as a percentage of residential unit revenue (11.6%) against the peer group for the next margin analysis by Tuesday.

Green Brick Partners, Inc. (GRBK) - Canvas Business Model: Customer Relationships

You're looking at how Green Brick Partners, Inc. manages its customer interactions as of late 2025. It's all about local execution through a decentralized brand structure, supported by integrated financial services.

The high-touch, local service model is delivered via its seven distinct builder brands, each with a strategic market niche. For instance, as of early 2025, the company operated in Texas, Georgia, and Florida, with Trophy Signature Homes expanding into Houston, planning community openings for the fall of 2025. The company's portfolio of brands includes five in Texas, one in Atlanta, Georgia, and one in Port St. Lucie, Florida.

Here's a breakdown of the brands and their primary operating areas based on early 2025 data:

Builder Brand Category	Key Markets	Ownership Stake
Five Texas Builders (e.g., CB JENI Homes, Normandy Homes)	Dallas-Fort Worth, Austin, Houston	100% or 90% (Centre Living Homes)
The Providence Group	Atlanta, Georgia	Controlling Interest
GHO Homes	Port St. Lucie, Florida	80% Interest

The effectiveness of the direct sales force, which is part of the company's total workforce of 650 employees as of September 30, 2025, is reflected in the sales velocity metrics reported for the third quarter of 2025. The company achieved a record 898 net new home orders in Q3 2025, representing a 2.4% increase year-over-year. The monthly sales pace was just under 3.0 sales per community during that period.

The company closed 953 new homes in Q3 2025, with a sales cancellation rate of only 6.7%, which management noted was among the lowest for public homebuilding peers. To maintain this pace against affordability pressures, incentives for new orders in Q3 2025 rose to 8.9% of the residential unit revenue.

Dedicated mortgage and title services are integrated to create a seamless transaction for the buyer. Green Brick Partners retains 100% ownership in Green Brick Title and GRBK Mortgage. Green Brick Mortgage, which launched in December 2024, was expected to contribute meaningful net income in the latter half of 2025. As of March 31, 2025, the outstanding balance on GRBK Mortgage's warehouse facility commitment was $40,000 thousand. For title closing services related to its GHO subsidiary, fees incurred during the three months ended March 31, 2025, were de minimis.

The focus on strong customer satisfaction is cited as a factor helping generate referrals and reduce warranty-related costs. The company's Q1 2025 sales cancellation rate was 6.1%, which was the lowest among public homebuilders.

Key performance indicators related to customer acquisition and retention for the latest reported periods include:

• Q3 2025 Net New Orders: 898 units.
• Q3 2025 Sales Cancellation Rate: 6.7%.
• Q3 2025 Monthly Sales Pace: Just under 3.0 sales per community.
• Q1 2025 Sales Cancellation Rate: 6.1%.
• Q1 2025 Incentives on New Orders: 6.7%, declining to 6.3% by March 2025.

Finance: review Q4 2025 mortgage origination volume for GRBK Mortgage by end of February.

Green Brick Partners, Inc. (GRBK) - Canvas Business Model: Channels

You're looking at how Green Brick Partners, Inc. gets its homes and services in front of customers, which is a mix of physical locations and integrated financial services. This approach is designed to capture the customer early and keep them within the Green Brick Partners ecosystem.

The primary physical channel revolves around the active selling environments. As of the third quarter of 2025, Green Brick Partners maintained an average of 103 active selling communities. This physical footprint is where the direct sales happen, supported by the local expertise of their affiliated homebuilder brands.

The company's structure relies heavily on its decentralized builder network. Green Brick Partners operates through a network of seven affiliated homebuilder brands, which allows for specialized local market penetration across Texas, Georgia, and Florida. For instance, Trophy Signature Homes accounted for 37% of Q3 2025 revenues, showing the significant channel contribution from a single brand. Geographically, operations generating approximately 90% of Q3 2025 revenues were concentrated in the Dallas-Fort Worth and Atlanta markets, with a strategic focus on infill and infill-adjacent submarkets, which represented about 80% of 2025 revenues.

The integrated financial services subsidiaries act as crucial channels for both customer retention and revenue diversification. Green Brick Mortgage, LLC, and Green Brick Insurance Services, LLC, are explicitly part of the corporate structure, and management noted plans to expand these services throughout its markets. This vertical integration is a key differentiator in their channel strategy.

Here's a quick look at the core channel components and their associated scale as of late 2025:

Channel Component	Metric/Data Point	Value/Amount
On-site Sales Centers (Average)	Active Selling Communities (Q3 2025 Average)	103 Communities
Affiliated Homebuilder Brands	Total Number of Brands	Seven
Key Brand Revenue Contribution	Trophy Signature Homes Share of Q3 2025 Revenue	37%
Geographic Revenue Concentration	Percentage of Revenue from DFW/Atlanta (Q3 2025)	Approximately 90%
Land Strategy Channel Focus	Percentage of 2025 Revenue from Infill/Infill-Adjacent	Approximately 80%
Integrated Financial Services	Subsidiaries Mentioned in Corporate Reporting	Green Brick Mortgage, LLC; Green Brick Insurance Services, LLC

Beyond the physical and captive financial channels, Green Brick Partners utilizes digital outreach. The online presence and digital marketing efforts are essential for lead generation, supporting the sales pace, which increased slightly year-over-year to just under 3.0 sales per community in the third quarter.

The company is actively developing its channel reach, with expansion plans including breaking ground on a master-planned community in the Houston market, with sales anticipated to start in early 2026. This shows a clear intent to broaden the physical channel footprint.

• - On-site sales centers at active communities (average 103 communities in Q3 2025)
• - Network of seven affiliated homebuilder brands (e.g., CB JENI Homes)
• - Green Brick Mortgage and Green Brick Insurance subsidiaries (with plans for expansion throughout markets)
• - Online presence and digital marketing for lead generation (supporting a Q3 2025 sales pace of just under 3.0 sales per community)

Green Brick Partners, Inc. (GRBK) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Green Brick Partners, Inc. as of late 2025, based on their latest reported performance metrics. This is who is buying their homes and where those sales are concentrated.

The geographic focus is tight, which is a key part of their strategy to maintain those industry-leading margins. Operations are heavily concentrated in two of the largest single-family starts markets in the country. Specifically, the single-family homebuyers in Dallas-Fort Worth and Atlanta generated approximately 90% of Green Brick Partners' revenue for the third quarter of 2025.

The type of land they develop directly influences who they sell to. Green Brick Partners maintains a strategic focus on supply-constrained infill and infill-adjacent submarkets. These specific locations accounted for approximately 80% of the company's revenues in 2025. This focus on desirable, supply-constrained areas is what helps them maintain a competitive edge, even as the broader market deals with affordability pressures.

The Trophy Signature Homes brand specifically targets a segment of the market that includes entry-level and first-time move-up buyers. To give you a sense of that brand's current weight in the overall business, Trophy was responsible for approximately 37% of Green Brick Partners' Q3 2025 revenues.

When you look at the actual transaction value, the average sales price (ASP) for homes sold year-to-date through Q3 2025 settled around $531,000. This reflects management's efforts to adjust pricing to meet buyer affordability thresholds in the current rate environment. For context, the ASP for the third quarter alone was slightly lower at approximately $524,000.

Here's a quick look at the key customer segment metrics from the Q3 2025 reporting period and year-to-date:

Segment Characteristic	Key Metric/Value	Time Frame/Context
Geographic Revenue Concentration	90% of Revenue	Q3 2025 (Dallas-Fort Worth & Atlanta)
Location Focus	80% of Revenues	2025 (Infill and Infill-Adjacent)
Average Sales Price (YTD)	$531,000	Year to Date Q3 2025
Average Sales Price (Quarterly)	$524,000	Q3 2025
Trophy Brand Revenue Contribution	37% of Revenue	Q3 2025
Incentives as % of Unit Revenue	8.9%	Q3 2025 New Orders

The company is clearly leaning on its core geographic and land-positioning strengths to capture sales velocity, as shown by the record net new orders of 898 units in the third quarter.

You can see the customer base is defined by geography and land type, which feeds directly into their value proposition of building in supply-constrained areas. Finance: draft the sensitivity analysis on the $531,000 ASP against a 50 basis point rate increase by Monday.

Green Brick Partners, Inc. (GRBK) - Canvas Business Model: Cost Structure

You're looking at the major cost drivers for Green Brick Partners, Inc. as of late 2025. The company's cost structure is heavily influenced by its land strategy, which is a key differentiator for them.

The most significant upfront cost, which they plan to manage aggressively, is tied to securing future inventory. Green Brick Partners continues to project approximately $300 million in land development spending for the full year 2025, though this figure is partially offset by reimbursements from public infrastructure costs on some projects. This focus on self-developing lots, where they self-develop approximately 98% of their total lots owned and controlled as of the end of 2024, is designed to control the finished lot cost, which is the most significant input cost for a new home.

Direct construction costs-materials, labor, and subcontractors-are embedded within the overall gross margin performance. For the third quarter of 2025, Green Brick Partners reported homebuilding gross margins of 31.1%, which, while down year-over-year, still led the public homebuilding industry and marked the tenth consecutive quarter above 30%.

Operating expenses are also a critical component. Selling, General, and Administrative (SG&A) expenses were reported at 11.6% of residential unit revenue for the third quarter of 2025. This was slightly higher than the prior year, driven by personnel costs and investments in IT platforms. Anyway, they plan to break out their financial services business next year to help reduce that SG&A expense going forward.

Financing costs are managed through a conservative balance sheet approach. At the end of the third quarter of 2025, the homebuilding debt-to-total capital ratio stood at 15.3%, which management noted positions them among the most financially strong homebuilders. This low leverage helps keep the interest expense component manageable relative to peers.

Here's a quick view of some key cost-related metrics from the Q3 2025 reporting period:

Cost/Financial Metric	Value/Rate	Period/Context
Expected Full Year 2025 Land Development Spending	$300 million	Full Year 2025 Projection
Homebuilding Gross Margin	31.1%	Q3 2025
SG&A as % of Residential Unit Revenue	11.6%	Q3 2025
Homebuilding Debt-to-Total Capital Ratio	15.3%	Q3 2025 End
Incentives as % of New Order Revenue	8.9%	Q3 2025

The company's strategy emphasizes controlling the largest input cost-land-through direct ownership and self-development, rather than relying on third-party developers. This defintely impacts their overall cost profile compared to land-light competitors.

• Self-developed lots as a percentage of total lots owned and controlled (End of 2024): 98%
• Percentage of home closings revenue from infill and infill-adjacent locations: 80%
• Sales cancellation rate (Q3 2025): 6.7%

Finance: draft 13-week cash view by Friday.

Green Brick Partners, Inc. (GRBK) - Canvas Business Model: Revenue Streams

You're looking at how Green Brick Partners, Inc. actually brings in the money based on their late 2025 filings. It's all about the homes, but the other bits help round out the picture, defintely.

The revenue streams are structured around their core homebuilding activity, supplemented by ancillary financial services and land monetization.

• - Primary: Home closings revenue ($499 million in Q3 2025)
• - Secondary: Financial services income from Green Brick Mortgage and Insurance
• - Land sales to unconsolidated entities (equity in income of unconsolidated entities)
• - Total trailing twelve-month revenue as of Q3 2025 was $2.11 billion

Here's a quick look at the key quantitative drivers from that third quarter performance:

Metric	Value	Context
Q3 2025 Home Closings Revenue	$499 million	Primary revenue driver for the quarter.
Q3 2025 New Homes Deliveries	953 units	Volume supporting the closing revenue.
Q3 2025 Net Income Attributable	$78 million	Bottom-line result for the quarter.
Q3 2025 Homebuilding Gross Margin	31.1%	Margin percentage maintained for the tenth consecutive quarter above 30%.
Q3 2025 Net New Orders	898 units	Record for any third quarter in Company history.
Trailing Twelve-Month Revenue (TTM)	$2.11 billion	Total revenue generated over the preceding four quarters ending Q3 2025.

The home closings revenue of $499 million in Q3 2025 came from delivering 953 new homes. Also, note that approximately 80% of that home closings revenue was generated from infill and infill-adjacent locations.

The total trailing twelve-month revenue stands at $2.11 billion USD. This shows the scale of operations leading up to that Q3 2025 report.