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Since January, five home builders have debuted on the stock , raising nearly $1.46 billion cumulatively on IPOs, The Journal reports. That increased presence on the stock market has the potential to reorder the rankings on who’s the “biggest”—changing up the bragging rights among builders, according to analysts.

Taylor Morrison Home Corp., a builder in western and southern states, has gotten a big boost in the rankings since it’s gone public. In the last year, the builder has gone from 14th largest company—based on enterprise value—to 11th. “Enterprise value takes into account equity, debt, preferred shares, minority interests, and cash on hand,” The explains.

Public builders tout their size because they believe it helps with getting financing for their projects. With more builders being publicly traded, analysts say that likely will lead to more “money chasing .”

“The potential impact would be a more competitive land [acquisition] environment,” says , an analyst with who tracks homebuilder stocks. “The more people that have money, the more dollars there are chasing land.”

The top five builders ranks based on their enterprise value are:

  • Lennar: $11.1 billion
  • D.R. Horton: $9 billion
  • PulteGroup Inc: $7.5 billion
  • : $7.1 billion
  • Inc.: Nearly $3.9 billion


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