Taylor Morrison Home Corporation · NYSE:TMHC
Taylor Morrison Home — Q2 2025 Earnings Presentation
21 slides from Taylor Morrison Home's earnings presentation, Jul 23, 2025
Slide 1: Investor Presentation Second Quarter 2025
Investor Presentation Second Quarter 2025
Slide 2: At a glance
At a glance as of 2Q 2025 85,051 23.0% 2.6 total homebuilding lots (60% controlled) adjusted home closings gross margin monthly sales pace 6.4 $2.0 billion 15.5% years of total lot supply (2.6 years owned) home closings revenue return on equity 345 $589,000 $1.1 billion active selling communities av
Slide 3: 2Q 2025 key metrics
2Q 2025 key metrics 2Q 2025 2Q 2024 Year-Over-Year Change Total Revenue (in thousands) $2,030,070 $1,991,053 2% Home Closings Revenue, Net (in thousands) $1,966,100 $1,920,127 2% Home Closings 3,340 3,200 4% Home Closings Gross Margin 22.3% 23.8% (150) bps Adjusted Home Closings Gross Margin 23.0% 2
Slide 4: Guidance metrics
Guidance metrics Third Quarter 2025 Full Year 2025 Ending active community count 340 to 345 Approximately 350 Home closings 3,200 to 3,300 13,000 to 13,500 Average closing price Approximately $600,000 $595,000 to $600,000 GAAP home closings gross margin Approximately 22% Approximately 22.5% Adjusted
Slide 5: Our buyers tend to be well-qualified with financial flexibility
Our buyers tend to be well-qualified with financial flexibility Taylor Morrison Home Funding Borrower Snapshot Mortgage Unit Product Mix as of Q2 2025 VA Jumbo 7% 1% 751 Average FICO Score FHA 20% 22% Average Downpayment Conventional 72% $456,000 Average Loan Amount Mortgage Capture Rate 89% 89% 87%
Slide 6: Capital Position
Senior Note Maturity Schedule (in Millions) Capital Position $527 $500 $450 • $1.1 billion total liquidity • $130 million unrestricted cash • $952 million total revolving credit facility capacity 2025 2026 2027 2028 2029 2030 • 22.9% net homebuilding debt-to-capital ratio Share Repurchases (in Milli
Slide 7: Land Portfolio
Homebuilding Lot Supply Land Portfolio 86,153 85,051 72,362 Owned 43% 40% • Disciplined land investment strategy focuses 47% on prime land locations in core submarkets Controlled 57% 60% • Utilizing land-lighter investment tools to 53% balance cost of capital with expected returns Q4 2023 Q4 2024 Q2
Slide 8: Multiple dimensions of diversification across our business
Multiple dimensions of diversification across our business Resort Lifestyle Entry-Level 17% 33% Move-Up 50% Based on 2Q 2025 sales West Central 32% 28% East 40% Based on 2Q 2025 closings 8
Slide 9: Esplanade, our premier resort lifestyle brand, provides differentiated performance
Esplanade, our premier resort lifestyle brand, provides differentiated performance +35% +3x -18% Average sales price ($779,000) Option premium per home ($171,000) Real estate broker participation (64%) +800 bps Home closings gross margin (31%) +4x -100 bps Lot premium per home ($74,000) Land and dev
Slide 10: Online reservations are driving improved sales conversions as consumer adoption grows
Online reservations are driving improved sales conversions as consumer adoption grows 70% Reservation-to-sales conversion rate 60% 50% 40% 30% Sales contribution 20% 10% 0% 2020 2021 2022 2023 2024 Q1 2025 Q2 2025 10
Slide 11: Our growing Build-to-Rent business develops single-family rental communities
Our growing Build-to-Rent business develops single-family rental communities designed to cater to consumers seeking an alternative to traditional multi-family rentals. ~40 build-to-rent owned & controlled communities 9 markets with Yardly operations 11
Slide 12: Milestones: A transformative journey
A transformative journey 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Acquired Acquired Increased Became a Entered the Acquired Debuted on Launched Celebrated Entered Named JEH Homes Acadia public float to fully-floated Build-to-Rent William the Fortune Build-to-Rent 100,000 Indianapolis A
Slide 13: Long-term targets reflect structural improvements to our expected earnings potential
Long-term targets reflect structural improvements to our expected earnings potential Annualized Monthly Sales Pace Home Closings Gross Margin Return on Equity1 Low-Three High-Teen Range 24.4% Low-to-Mid Range 3.0 20% Range 15.8% 18.8% 2.3 10.3% 2013-19 2024 Target 2013-19 2024 Target 2013-19 2024 Ta
Slide 14: Appendix
Appendix
Slide 15: About Taylor Morrison
About Taylor Morrison Headquartered in Scottsdale, Arizona, Taylor Morrison (NYSE:TMHC) is a leading land developer and homebuilder with operations across 12 states. We serve a wide array of homebuyers with our diverse product portfolio, including entry-level, move-up and resort lifestyle consumers.
Slide 16: Coast-to-coast footprint
Coast-to-coast footprint West • Bay Area • Las Vegas • Phoenix • Portland • Sacramento • Seattle • Southern California Central • Austin • Dallas • Denver • Houston • Indianapolis East • Atlanta • Charlotte • Jacksonville • Naples • Orlando • Raleigh • Sarasota • Tampa • Treasure Coast 21 markets in
Slide 17: What sets Taylor Morrison apart
What sets Taylor Morrison apart Diversified consumer groups and price points National, regional and local scale 1 Exposure to key demographic groups mitigates risk and 5 Enhanced scale provides operational efficiencies, cost enables a balanced spec and to-be-built business leverage and land advantag
Slide 18: Historical operating data by region
Historical operating data by region Q1 2023 Q2 2023 Q3 2023 Q4 2023 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 2024 Q1 2025 Q2 2025 Q2 2025 vs Q2 2024 Net Sales Orders East 1,079 1,047 940 902 3,968 1,295 1,160 1,140 993 4,588 1,391 1,147 (1%) Central 674 808 641 602 2,725 904 815 747 784 3,250 867 731 (1
Slide 19: Reconciliation of non-GAAP measures
Reconciliation of non-GAAP measures Debt to Capitalization Ratios Reconciliation As of As of As of (Dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024 Total debt $ 2,099,377 $ 2,083,599 $ 2,150,021 Plus: unamortized debt issuance cost, net 5,737 6,177 7,496 Less: mortgage warehouse fac
Slide 20: Reconciliation of non-GAAP measures
Reconciliation of non-GAAP measures Adjusted Home Closings Gross Margin Three Months Ended June 30, (Dollars in thousands) 2025 2024 Home closings revenue, net $ 1,966,100 $ 1,920,127 Cost of home closings 1,526,900 1,462,706 Home closings gross margin $ 439,200 $ 457,421 Inventory impairment charge
Slide 21: Forward-looking statements
Forward-looking statements This presentation includes “forward-looking statements.” These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to s