Nobility Homes NOBH

Nobility Homes, Inc. designs, manufactures, and sells a broad line of manufactured and modular homes through its own retail sales centers throughout Florida. The company also sells its manufactured homes on a wholesale basis to independent manufactured home retail dealers and manufactured home communities. Nobility operates within the manufactured housing industry, focusing on the production and distribution of residential homes built in a factory setting for transport to a permanent site.

Nobility generates revenue primarily through the sale of manufactured and modular homes to end-user consumers via its retail subsidiary and through wholesale transactions with independent dealers and manufactured home communities. The company offers homes under various trade names including Kingswood, Richwood, Tropic Isle, Regency Manor, and Tropic Manor, with models ranging from 464 to 2,650 square feet and priced between approximately $90,000 and $250,000. Revenue is derived from both retail sales, which accounted for 80% of total sales in fiscal year 2025, and wholesale sales to approximately 30 manufactured home communities and independent dealers.

The company operates through the following segments:

• Manufacturing: This segment involves the design, production, and assembly of manufactured and modular homes at Nobility’s manufacturing plant in Ocala, Florida. The plant utilizes assembly line techniques to construct floors, sidewalls, end walls, roofs, and interior cabinets for homes. Nobility sources various components such as axles, frames, tires, doors, windows, appliances, and plumbing fixtures from outside suppliers.
• Retail Sales: This segment is operated through Prestige Home Centers, Inc., a wholly owned subsidiary that manages ten retail sales centers in north and central Florida. Prestige sells manufactured homes to home buyers who place the homes on their own sites, with each center displaying furnished model homes to assist in the sales process. Sales by Prestige accounted for 80% of Nobility’s total sales in fiscal year 2025.
• Insurance and Financial Services: This segment is conducted through Mountain Financial, Inc., an independent insurance agent and licensed mortgage loan originator that provides retail insurance services to Prestige customers. Mountain Financial assists customers in obtaining property and casualty, automobile, and extended home warranty coverage from insurance underwriters on an agency basis. The company does not assume risk or hold policies but earns commissions or fees for placement services.

Nobility competes in a highly competitive manufactured home industry where it faces competition from other manufacturers, some of which are larger and have greater financial resources. The company estimates that among the 18 manufacturers selling homes in Florida, approximately nine produce similar home types and compete in the same market area. Nobility believes it remains competitive based on price, service, warranties, and product performance, while also contending with site-built housing as an alternative for consumers.

The company’s customer base consists primarily of home buyers in Florida who purchase manufactured homes for placement on their own property sites, with most sales occurring within a 350-mile radius of its Ocala manufacturing facility. Retail customers typically reside within approximately 100 miles of a Prestige sales center, while wholesale customers include independent dealers and operators of manufactured home communities that purchase homes for resale or placement within their communities. Nobility does not finance customer purchases directly, relying instead on third-party lenders specializing in manufactured housing and banks to provide financing for homebuyers.