M/I Homes, Inc. (MHO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$3.13	$3.14	+0.3%	—	—	—
Q4 26	$2.51	$2.55	+1.6%	—	—	—
Q3 26	$3.88	$2.39	-38.4%	—	—	—
Q2 26	$4.37	$3.92	-10.3%	—	—	—
Q1 26	$4.43	$4.42	-0.2%	—	—	—
Q4 25	$4.16	$3.98	-4.3%	—	—	—
Q3 25	$4.83	$4.71	-2.5%	—	—	—
Q2 25	$4.94	$5.1	+3.2%	—	—	—
Q1 25	$4.6	$5.12	+11.3%	—	—	—
Q4 24	$3.96	$4.78	+20.7%	—	—	—
Q3 24	$4.94	$3.66	-25.9%	—	—	—
Q2 24	$4.27	$4.82	+12.9%	—	—	—
Q1 24	$2.45	$4.12	+68.2%	—	—	—
Q4 23	$2.36	$3.64	+54.2%	—	—	—
Q3 23	$4.16	$5.15	+23.8%	—	—	—
Q2 23	$4.05	$4.67	+15.3%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$15.1	—	—	$4.4B	—
FY24	—	$20.3	—	—	$4.5B	—
FY23	—	$16.8	—	—	$4B	—
FY22	—	$17.6	—	—	$4.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.7B	$2B	$2.3B	$2.5B	$3B	$3.7B	$4.1B	$4B	$4.5B	$4.4B
YoY change	+19.2%	+16%	+16.5%	+9.36%	+21.8%	+23%	+10.3%	-2.37%	+11.7%	-1.93%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.7B	2B	2.3B	2.5B	3B	3.7B	4.1B	4B	4.5B	4.4B
Cost of revenue	1.4B	1.6B	1.8B	2B	2.4B	2.8B	3.1B	3B	3.3B	3.4B
Gross profit	333.1M	400.9M	449.6M	494.4M	684.8M	908.9M	1B	1B	1.2B	1.1B
Gross margin	19.7%	20.4%	19.7%	19.8%	22.5%	24.3%	25.3%	25.3%	26.6%	24.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	220.4M	254.6M	280.6M	302.3M	357.1M	390.6M	406.4M	431.7M	492.8M	510.6M
Operating expenses	220.4M	254.6M	280.6M	302.3M	357.1M	390.6M	406.4M	431.7M	492.8M	510.6M
Operating income	112.7M	146.3M	169M	192.1M	327.7M	518.3M	637.5M	587.2M	706.1M	554.2M
Operating margin	6.67%	7.46%	7.39%	7.68%	10.8%	13.8%	15.4%	14.6%	15.7%	12.5%
Non-operating income, net	-3.4M	-7.1M	-7.2M	-4.7M	-8M	-7M	6K	33K	—	-47.7M
Pretax income	91.8M	120.3M	141.3M	166M	310M	509.1M	635.2M	607.3M	733.6M	526.6M
Income tax	35.2M	48.2M	33.6M	38.4M	70.2M	112.2M	144.5M	141.9M	169.9M	123.6M
Net income	56.6M	72.1M	107.7M	127.6M	239.9M	396.9M	490.7M	465.4M	563.7M	402.9M
Net margin	3.35%	3.67%	4.71%	5.1%	7.87%	10.6%	11.9%	11.5%	12.5%	9.12%
EBITDA	123.6M	157.6M	181M	205.6M	343.2M	541.7M	652.1M	601.7M	721.5M	618.6M
EPS	2.1	2.57	3.81	4.58	8.38	13.6	17.6	16.8	20.3	15.1
Diluted EPS	1.84	2.26	3.7	4.48	8.23	13.3	17.2	16.2	19.7	14.7

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1B	972.6M	1B	1.1B	1.1B	1.2B	976.1M	1.2B	1.1B	1.1B	920.7M	1.1B
Cost of revenue	764.6M	728.2M	763.4M	800.5M	833.5M	908.5M	723.3M	876M	854.1M	899.5M	718.1M	827.8M
Gross profit	281.7M	244.4M	283.3M	309.3M	309.4M	296.8M	252.8M	286.6M	277.7M	247.8M	202.6M	235.5M
Gross margin	26.9%	25.1%	27.1%	27.9%	27.1%	24.6%	25.9%	24.7%	24.5%	21.6%	22%	22.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	109.6M	114.5M	110M	122.5M	127.4M	132.8M	111.9M	130.9M	134.8M	133.1M	116.5M	134.2M
Operating expenses	109.6M	114.5M	110M	122.5M	127.4M	132.8M	111.9M	130.9M	134.8M	133.1M	116.5M	134.2M
Operating income	172.1M	129.8M	173.3M	186.8M	182M	164M	140.9M	155.7M	142.9M	114.7M	86.1M	101.3M
Operating margin	16.5%	13.4%	16.6%	16.8%	15.9%	13.6%	14.4%	13.4%	12.6%	10%	9.35%	9.53%
Non-operating income, net	-1K	-1K	—	—	—	—	—	—	-7.6M	-40.1M	—	—
Pretax income	178M	138M	180.2M	194.1M	188.7M	170.6M	146.1M	160.1M	139.8M	80.6M	89.2M	104.6M
Income tax	38.9M	32.7M	42.2M	47.4M	43.2M	37.1M	34.9M	38.9M	33.3M	16.6M	21.3M	25.5M
Net income	139M	105.3M	138.1M	146.7M	145.4M	133.5M	111.2M	121.2M	106.5M	64M	67.8M	79.1M
Net margin	13.3%	10.8%	13.2%	13.2%	12.7%	11.1%	11.4%	10.4%	9.41%	5.58%	7.37%	7.44%
EBITDA	175.6M	133.5M	177M	190.6M	186M	168M	144.9M	159.8M	154.7M	159.2M	90.5M	105.8M
EPS	4.98	3.79	4.92	5.26	5.26	4.85	4.07	4.52	4.01	2.44	2.61	3.08
Diluted EPS	4.82	3.66	4.78	5.12	5.1	4.71	3.98	4.42	3.92	2.39	2.55	3.02

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	621.1M	886.5M	593.3M	1.1B	1.3B	1.8B	1.3B	3.8B	3.7B	3.4B	3.5B
Enterprise value	1.2B	1.5B	1.4B	1.9B	1.9B	2.6B	2B	4B	3.9B	3.8B	3.8B
Shares outstanding	24.7M	25.8M	28.2M	27.8M	28.6M	29.1M	27.9M	27.8M	27.8M	26.7M	26.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	11	12.3	5.51	8.59	5.28	4.56	2.62	8.22	6.55	8.49	11.7
P/S	0.37	0.45	0.26	0.44	0.42	0.48	0.31	0.95	0.82	0.77	0.83
P/B	0.95	1.19	0.69	1.09	1.01	1.11	0.62	1.52	1.26	1.08	1.09
EV/EBITDA	9.91	9.79	7.69	9.06	5.63	4.77	3.03	6.66	5.42	6.08	8.38
EV/Sales	0.72	0.79	0.61	0.75	0.63	0.69	0.48	0.99	0.87	0.85	0.89
Earnings yield	9.11%	8.13%	18.1%	11.6%	18.9%	21.9%	38.1%	12.2%	15.3%	11.8%	8.52%
FCF yield	3.4%	-6.99%	-1.81%	5.58%	12.4%	-2.33%	13.6%	14.3%	4.64%	3.73%	2.49%
PEG	—	—	—	—	—	—	—	—	—	—	-0.37

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	19.7%	20.4%	19.7%	19.8%	22.5%	24.3%	25.3%	25.3%	26.6%	24.1%	22.1%
Operating margin	6.67%	7.46%	7.39%	7.68%	10.8%	13.8%	15.4%	14.6%	15.7%	12.5%	9.28%
Net margin	3.35%	3.67%	4.71%	5.1%	7.87%	10.6%	11.9%	11.5%	12.5%	9.12%	7.44%
ROE	8.65%	9.65%	12.6%	12.7%	19.1%	24.4%	23.7%	18.5%	19.2%	12.7%	10.1%
ROA	3.66%	3.87%	5.33%	6.06%	9.08%	12.2%	13.2%	11.6%	12.4%	8.43%	5.64%
ROIC	5.53%	6.25%	7.78%	8.34%	13.2%	16.8%	17.8%	16.7%	17.2%	12.1%	9.76%
Return on tangible assets	3.71%	3.9%	5.45%	6.21%	9.26%	12.4%	13.4%	11.7%	12.5%	8.53%	6.58%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	11.2	12.1	11.4	12.1	9.34	8.41	10.5	12.8	15.7	18.9	8.11
Quick ratio	1.74	2.48	1.37	1.19	2.09	1.6	1.9	3.32	4.38	4.62	3.47
Debt / equity	0.97	1.08	0.96	0.77	0.73	0.62	0.48	0.36	0.35	0.33	0.31
Debt / assets	0.41	0.43	0.41	0.37	0.35	0.31	0.27	0.23	0.23	0.22	0.21
Net debt / EBITDA	4.88	4.16	4.42	3.73	1.93	1.43	1.06	0.31	0.3	0.55	0.52
Interest coverage	6.22	7.38	7.9	8.77	33	240.4	283.3	—	—	—	—
Effective tax rate	38.3%	40.1%	23.8%	23.2%	22.6%	22%	22.8%	23.4%	23.2%	23.5%	23.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	68.6	76.1	81	89.8	106.5	128.8	148.2	145.3	162.2	165.3	163.3
EPS (basic)	2.1	2.57	3.81	4.58	8.38	13.6	17.6	16.8	20.3	15.1	15.1
EPS (diluted)	1.84	2.26	3.7	4.48	8.23	13.3	17.2	16.2	19.7	14.7	11.9
Book value per share	26.5	29	30.3	36	44	55.8	74.3	90.6	105.8	118.5	127.9
FCF per share	0.86	-2.41	-0.38	2.19	5.48	-1.45	6.27	19.7	6.17	4.78	7.49
Cash per share	1.4	5.89	0.76	0.22	9.12	8.12	11.2	26.4	29.6	25.8	29.2
Capex per share	0.53	0.34	0.29	0.06	0.41	0.58	0.33	0.21	0.3	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.77%	0.45%	0.36%	0.07%	0.38%	0.45%	0.23%	0.14%	0.19%	—	—
Capex / operating cash flow	50.4%	-14.2%	-78.6%	3.1%	7.78%	-71.5%	5.96%	1.07%	5.14%	—	—
Payout ratio	8.61%	5.07%	0%	0%	—	—	—	—	—	—	0%
Dividend yield	0.78%	0.41%	0%	0%	—	—	—	—	—	—	0.07%

Yield

0.07%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.025

ex-dividend Jun 27, 2008

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 27, 2008	$0.025
Mar 28, 2008	$0.025
Dec 28, 2007	$0.025
Sep 27, 2007	$0.025
Jun 28, 2007	$0.025
Mar 29, 2007	$0.025
Dec 28, 2006	$0.025

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1B	$972.6M	$1B	$1.1B	$1.1B	$1.2B	$976.1M	$1.2B	$1.1B	$1.1B	$920.7M	$1.1B
YoY change	+3.3%	-20.1%	+4.61%	+9.44%	+9.23%	+23.9%	-6.75%	+4.76%	-0.97%	-4.81%	-5.67%	-8.54%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	34.4M	151.7M	21.5M	6.1M	260.8M	236.4M	311.5M	732.8M	821.6M	689.2M
Receivables	—	—	—	—	—	—	—	—	—	—
Inventory	1.2B	1.4B	1.6B	1.7B	1.9B	2.4B	2.8B	2.7B	3B	3.3B
Total current assets	1.4B	1.7B	1.9B	1.9B	2.4B	3B	3.4B	3.7B	4.2B	4.4B
Property, plant & equipment	22.3M	26.8M	29.4M	40.5M	78.9M	88.6M	97.9M	91.3M	88.4M	89.3M
Goodwill & intangibles	22.9M	15.6M	45.8M	52M	51.3M	49.5M	64.4M	54.1M	52.6M	53.7M
Total assets	1.5B	1.9B	2B	2.1B	2.6B	3.2B	3.7B	4B	4.5B	4.8B
Accounts payable	103.2M	117.2M	131.5M	125M	185.7M	244.5M	228.6M	204.7M	198.6M	181.2M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	125.4M	143.6M	163.6M	159.5M	258.3M	352.4M	321.7M	289.8M	267.9M	232M
Long-term debt	637.8M	807.7M	821M	773.2M	924.4M	1B	999.5M	917.2M	1B	1B
Total liabilities	894.3M	1.1B	1.2B	1.1B	1.4B	1.6B	1.6B	1.5B	1.6B	1.6B
Shareholders' equity	654.2M	747.3M	855.3M	1B	1.3B	1.6B	2.1B	2.5B	2.9B	3.2B
Total debt	637.8M	807.7M	821M	773.2M	924.4M	1B	999.5M	917.2M	1B	1B
Net debt	603.4M	656M	799.4M	767.1M	663.5M	777.1M	688M	184.3M	215M	340.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	736.3M	732.8M	870.2M	837.5M	719.9M	821.6M	776.4M	800.4M	734.2M	689.2M	767.4M	735.9M
Receivables	—	—	—	—	—	—	—	—	—	—	—	—
Inventory	2.7B	2.7B	2.7B	2.9B	3.1B	3B	3.1B	3.2B	3.3B	3.3B	3.3B	3.4B
Total current assets	3.7B	3.7B	3.9B	4B	4.1B	4.2B	4.2B	4.4B	4.4B	4.4B	4.4B	4.5B
Property, plant & equipment	94.3M	91.3M	91M	93.1M	90M	88.4M	91M	90.2M	83M	89.3M	85M	86.4M
Goodwill & intangibles	32.8M	54.1M	32.8M	32.8M	32.8M	52.6M	32.8M	32.8M	32.8M	53.7M	32.8M	32.8M
Total assets	4B	4B	4.2B	4.3B	4.5B	4.5B	4.6B	4.7B	4.8B	4.8B	4.8B	4.9B
Accounts payable	250.9M	204.7M	225M	278.9M	256.7M	198.6M	228.9M	252.5M	258M	181.2M	215.8M	244.5M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	345.6M	289.8M	317.5M	372.1M	344.1M	267.9M	307.6M	324.6M	319.6M	232M	275.3M	311M
Long-term debt	953.5M	917.2M	977.5M	975.2M	986.8M	1B	982.3M	1B	979.9M	1B	1B	1B
Total liabilities	1.6B	1.5B	1.6B	1.6B	1.6B	1.6B	1.6B	1.7B	1.6B	1.6B	1.6B	1.6B
Shareholders' equity	2.4B	2.5B	2.6B	2.7B	2.8B	2.9B	3B	3.1B	3.1B	3.2B	3.2B	3.2B
Total debt	953.5M	917.2M	977.5M	975.2M	986.8M	1B	982.3M	1B	979.9M	1B	1B	1B
Net debt	217.2M	184.3M	107.4M	137.8M	266.9M	215M	205.9M	229.2M	245.8M	340.6M	244.3M	267.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	56.6M	72.1M	107.7M	127.6M	239.9M	396.9M	490.7M	465.4M	563.7M	402.9M
Depreciation & amortization	10.2M	10.7M	11.7M	13.2M	15.1M	14.3M	14.6M	14.5M	15.5M	16.7M
Stock-based compensation	5.3M	6M	6M	5.8M	7.1M	8.6M	8.8M	11.4M	14.6M	17M
Change in working capital	-48.3M	-144.2M	-140.9M	-105.5M	-32.9M	-384.1M	-376.4M	-17M	-316.9M	-317M
Operating cash flow	26M	-62M	-10.4M	57.4M	150M	-23.4M	156.7M	539.8M	163.9M	137.3M
Capital expenditure	-13.1M	-8.8M	-8.1M	1.8M	-11.7M	-16.7M	-9.3M	-5.8M	-8.4M	—
Investing cash flow	-28.4M	-13.9M	-139.6M	-27.6M	-37.7M	-67.1M	-27.6M	-29.3M	-62.5M	-57.2M
Dividends paid	-4.9M	-3.7M	0	0	—	—	—	—	—	—
Share repurchases	0	-50.4M	-25.7M	-5.2M	-1.9M	-51.5M	-55.3M	-65.3M	-177M	-202M
Financing cash flow	18.6M	168.4M	5.8M	-73.1M	110.4M	32.9M	-82.9M	-146M	-57.4M	-218.3M
Net change in cash	16.2M	92.5M	-144.1M	-43.3M	222.6M	-57.7M	46.2M	364.5M	44M	-138.2M
Free cash flow	21.1M	-62M	-10.7M	61.1M	156.7M	-42.1M	174.7M	546.4M	171.3M	127.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	139M	105.3M	138.1M	146.7M	145.4M	133.5M	111.2M	121.2M	106.5M	64M	67.8M	79.1M
Depreciation & amortization	3.5M	3.7M	3.7M	3.8M	4M	4M	3.9M	4.1M	4.3M	4.4M	4.4M	4.5M
Stock-based compensation	2.7M	4.4M	3.5M	5.8M	3.5M	3.7M	4.2M	3.9M	4.5M	4.4M	4.2M	4.6M
Change in working capital	-70.2M	-111.4M	72.2M	-148.3M	-226.9M	-15.9M	-47.5M	-61.5M	-136.8M	-71.3M	59.1M	-67.9M
Operating cash flow	57.9M	31.7M	158.4M	15.3M	-92.3M	84.8M	116.2M	37.8M	43.4M	-8.7M	135.7M	36.8M
Capital expenditure	-2.5M	-1.2M	-276K	-5.5M	-580K	-2.1M	-1.3M	—	—	—	—	—
Investing cash flow	-11.7M	-5M	-24M	-10.8M	-17.5M	-10.2M	-9.6M	-10.1M	-14M	-24.8M	-3.8M	-6.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-25.1M	-25.1M	-25.3M	-50.3M	-50.2M	-51.1M	-50.1M	-50.1M	-50.2M	-51.7M	-50.1M	-50M
Financing cash flow	-10.8M	-60.5M	-25.3M	-50.3M	-50.2M	-416K	-50.1M	-50.1M	-50.2M	-52.2M	-50.1M	-50M
Net change in cash	35.4M	-33.8M	109.2M	-45.8M	-160M	74.2M	56.6M	-22.5M	-20.8M	-85.6M	81.9M	-19.7M
Free cash flow	77M	53.7M	115.5M	22M	-68.5M	102.3M	63.5M	35.1M	42M	-13M	135.6M	31.4M

M/I Homes, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history