NYSE : MHO
M/I Homes, Inc. — Financial statements
Consumer Discretionary · Residential Construction · United States
Last price 128.28 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.21B
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Financial statements
M/I Homes, Inc. (MHO) reported revenue of 4.21B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 4.08B | 4.29B | 4.39B | 3.94B | 4.05B | 3.64B |
| Other Revenue | 124.16M | 125.46M | 116.21M | 93.83M | 86.19M | 102.03M |
| Revenue | 4.21B | 4.42B | 4.50B | 4.03B | 4.13B | 3.75B |
| Cost of Revenue | 3.29B | 3.35B | 3.31B | 3.01B | 3.09B | 2.84B |
| Gross Profit | 845.56M | 995.06M | 1.13B | 963.45M | 1.04B | 905.00M |
| Selling, General & Admin | 462.50M | 453.34M | 439.97M | 386.59M | 406.39M | 390.62M |
| Operating Expenses | 462.50M | 453.34M | 439.97M | 386.59M | 406.39M | 390.62M |
| Operating Income | 383.06M | 541.72M | 692.40M | 576.86M | 632.33M | 514.38M |
| Interest & Investment Income | 27.12M | 32.54M | 41.21M | 30.38M | 2.87M | 1.76M |
| Earnings From Equity Investments | 33.00K | 6.00K | 2.05M | |||
| EBT Excluding Unusual Items | 410.17M | 574.26M | 733.61M | 607.28M | 635.21M | 518.19M |
| Asset Writedown | -49.01M | -47.67M | ||||
| Other Unusual Items | -9.07M | |||||
| Pretax Income | 361.16M | 526.59M | 733.61M | 607.28M | 635.21M | 509.11M |
| Income Tax Expense | 83.74M | 123.65M | 169.88M | 141.91M | 144.54M | 112.25M |
| Net Income | 277.42M | 402.94M | 563.73M | 465.37M | 490.66M | 396.87M |
| Net Income to Common | 277.42M | 402.94M | 563.73M | 465.37M | 490.66M | 396.87M |
| Shares Outstanding (Basic) | 25.83M | 26.73M | 27.78M | 27.77M | 27.88M | 29.09M |
| Shares Outstanding (Diluted) | 26.38M | 27.34M | 28.60M | 28.72M | 28.46M | 29.88M |
| EPS (Basic) | 10.74 | 15.07 | 20.29 | 16.76 | 17.60 | 13.64 |
| EPS (Diluted) | 10.52 | 14.74 | 19.71 | 16.21 | 17.24 | 13.28 |
| Free Cash Flow | 137.09M | 127.74M | 171.32M | 546.36M | 174.74M | -42.12M |
| Free Cash Flow Per Share | 5.20 | 4.67 | 5.99 | 19.03 | 6.14 | -1.41 |
| Gross Margin | 20.10% | 22.52% | 25.14% | 23.89% | 25.14% | 24.16% |
| Operating Margin | 9.10% | 12.26% | 15.37% | 14.30% | 15.30% | 13.73% |
| Profit Margin | 6.59% | 9.12% | 12.51% | 11.54% | 11.88% | 10.60% |
| Free Cash Flow Margin | 3.26% | 2.89% | 3.80% | 13.55% | 4.23% | -1.12% |
| EBITDA | 401.25M | 558.39M | 707.85M | 591.36M | 646.93M | 528.72M |
| EBITDA Margin | 9.54% | 12.64% | 15.71% | 14.66% | 15.66% | 14.12% |
| D&A For EBITDA | 18.20M | 16.67M | 15.45M | 14.49M | 14.61M | 14.33M |
| EBIT | 383.06M | 541.72M | 692.40M | 576.86M | 632.33M | 514.38M |
| EBIT Margin | 9.10% | 12.26% | 15.37% | 14.30% | 15.30% | 13.73% |
| Effective Tax Rate | 23.19% | 23.48% | 23.16% | 23.37% | 22.76% | 22.05% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 620.50M | 689.19M | 821.47M | 732.60M | 310.54M | 236.07M |
| Trading Asset Securities | 3.66M | 532.00K | 3.62M | 787.00K | ||
| Cash & Short-Term Investments | 620.50M | 692.85M | 822.00M | 736.22M | 311.33M | 236.07M |
| Other Receivables | 47.79M | 61.10M | 66.41M | 57.08M | 29.06M | |
| Receivables | 47.79M | 61.10M | 66.41M | 57.08M | 29.06M | |
| Inventory | 3.60B | 3.38B | 3.09B | 2.80B | 2.83B | 2.45B |
| Prepaid Expenses | 38.88M | 20.50M | 19.13M | 18.26M | 15.59M | |
| Restricted Cash | 95.00K | 100.00K | 200.00K | 1.00M | 300.00K | |
| Other Current Assets | 28.94M | 2.95M | 4.48M | |||
| Total Current Assets | 4.48B | 4.47B | 4.28B | 3.80B | 3.46B | 3.01B |
| Property, Plant & Equipment | 84.68M | 89.32M | 88.41M | 91.28M | 97.86M | 88.60M |
| Long-Term Investments | 87.17M | 106.30M | 65.33M | 44.01M | 51.55M | 57.12M |
| Goodwill | 16.40M | 16.40M | 16.40M | 16.40M | 16.40M | 16.40M |
| Other Intangible Assets | 10.44M | 9.91M | 10.66M | 15.81M | 8.36M | |
| Long-Term Deferred Tax Assets | 4.51M | 4.51M | 13.45M | 16.09M | 18.02M | 10.25M |
| Long-Term Deferred Charges | 12.45M | 13.74M | 8.48M | 5.74M | 8.19M | |
| Other Long-Term Assets | 184.65M | 65.16M | 60.50M | 40.08M | 50.73M | 37.35M |
| Total Assets | 4.86B | 4.78B | 4.55B | 4.02B | 3.71B | 3.24B |
| Accounts Payable | 229.13M | 181.19M | 198.58M | 204.68M | 228.60M | 244.50M |
| Accrued Expenses | 64.66M | 70.15M | 61.02M | 59.41M | 51.72M | |
| Short-Term Debt | 487.00K | |||||
| Current Portion of Long-Term Debt | 16.97M | |||||
| Current Portion of Leases | 12.85M | |||||
| Finance Div. Debt Current | 230.42M | 276.86M | 286.16M | 165.84M | 245.74M | 266.16M |
| Other Current Liabilities | 61.68M | 75.74M | 48.89M | 66.43M | 53.33M | 32.56M |
| Total Current Liabilities | 538.20M | 611.29M | 603.78M | 497.98M | 587.08M | 595.43M |
| Long-Term Debt | 697.26M | 696.30M | 695.02M | 693.74M | 692.47M | 695.82M |
| Long-Term Leases | 51.64M | 43.83M | 55.37M | 57.57M | 61.31M | 51.50M |
| Other Long-Term Liabilities | 320.50M | 259.52M | 255.96M | 256.21M | 303.34M | 272.92M |
| Total Liabilities | 1.61B | 1.61B | 1.61B | 1.51B | 1.64B | 1.62B |
| Common Stock | 301.00K | 301.00K | 301.00K | 301.00K | 301.00K | 301.00K |
| Additional Paid-In Capital | 331.20M | 344.12M | 348.70M | 349.91M | 352.64M | 347.45M |
| Retained Earnings | 3.48B | 3.27B | 2.87B | 2.30B | 1.84B | 1.35B |
| Treasury Stock | -560.40M | -446.24M | -274.40M | -134.62M | -118.20M | -68.89M |
| Total Common Equity | 3.25B | 3.17B | 2.94B | 2.52B | 2.07B | 1.62B |
| Shareholders' Equity | 3.25B | 3.17B | 2.94B | 2.52B | 2.07B | 1.62B |
| Total Liabilities & Equity | 4.86B | 4.78B | 4.55B | 4.02B | 3.71B | 3.24B |
| Total Debt | 996.28M | 1.03B | 1.04B | 917.15M | 999.52M | 1.01B |
| Net Cash (Debt) | -375.79M | -336.98M | -214.54M | -180.93M | -688.19M | -777.89M |
| Net Cash Per Share | -14.25 | -12.33 | -7.50 | -6.30 | -24.18 | -26.03 |
| Filing Date Shares Outstanding | 25.03M | 25.77M | 27.11M | 27.81M | 27.67M | 28.46M |
| Total Common Shares Outstanding | 25.03M | 25.76M | 27.06M | 27.76M | 27.44M | 28.50M |
| Working Capital | 3.94B | 3.86B | 3.68B | 3.30B | 2.87B | 2.42B |
| Book Value Per Share | 129.94 | 122.90 | 108.62 | 90.66 | 75.46 | 56.99 |
| Tangible Book Value | 3.24B | 3.14B | 2.91B | 2.49B | 2.04B | 1.60B |
| Tangible Book Value Per Share | 129.29 | 121.86 | 107.65 | 89.69 | 74.29 | 56.12 |
| Machinery | 74.14M | 66.17M | 60.38M | 59.22M | 58.72M | |
| Order Backlog | 989.93M | 1.40B | 1.58B | 1.70B | 2.37B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 277.42M | 402.94M | 563.73M | 465.37M | 490.66M | 396.87M |
| Depreciation & Amortization | 18.20M | 16.67M | 15.45M | 14.49M | 14.61M | 14.33M |
| Other Amortization | 3.41M | 3.37M | 3.25M | 2.88M | 2.57M | 2.58M |
| Loss (Gain) From Sale of Assets | 14.23M | -6.62M | 4.13M | -7.67M | -90.00K | -492.00K |
| Asset Writedown & Restructuring Costs | 47.67M | 47.67M | 9.24M | 10.61M | 18.35M | |
| Loss (Gain) on Equity Investments | -33.00K | -6.00K | -103.00K | |||
| Stock-Based Compensation | 17.74M | 17.00M | 14.56M | 11.37M | 8.79M | 8.56M |
| Other Operating Activities | 2.82M | 1.55M | -3.71M | -3.48M | -16.64M | -18.24M |
| Change in Inventory | -170.36M | -313.46M | -297.73M | 46.73M | -348.65M | -508.19M |
| Change in Accounts Payable | -28.85M | -17.39M | -6.10M | -23.92M | -15.91M | 58.84M |
| Change in Unearned Revenue | -1.20M | -18.49M | -15.80M | -7.99M | -14.75M | 35.23M |
| Change in Other Net Operating Assets | -18.64M | 27.09M | 11.96M | -22.71M | 11.78M | 37.74M |
| Operating Cash Flow | 150.51M | 137.35M | 179.74M | 552.13M | 184.07M | -16.82M |
| Capital Expenditures | -13.42M | -9.61M | -8.42M | -5.77M | -9.33M | -25.30M |
| Sale of Property, Plant & Equipment | 8.57M | |||||
| Sale (Purchase) of Intangibles | 9.38M | 7.06M | 7.62M | 10.70M | 200.00K | 15.42M |
| Investment in Securities | -65.78M | -57.19M | -54.09M | -23.56M | -18.25M | -50.41M |
| Investing Cash Flow | -69.81M | -59.74M | -54.90M | -18.63M | -27.38M | -51.72M |
| Short-Term Debt Issued | 362.00M | |||||
| Long-Term Debt Issued | 120.31M | 341.00M | ||||
| Total Debt Issued | 120.31M | 362.00M | 341.00M | |||
| Short-Term Debt Repaid | -362.00M | |||||
| Long-Term Debt Repaid | -9.30M | -79.90M | -24.97M | -250.00M | ||
| Total Debt Repaid | -1.55M | -9.30M | -79.90M | -386.97M | -250.00M | |
| Net Debt Issued (Repaid) | -1.55M | -9.30M | 120.31M | -79.90M | -24.97M | 91.00M |
| Issuance of Common Stock | 9.64M | 8.35M | 21.29M | 33.80M | 1.37M | 11.24M |
| Repurchase of Common Stock | -201.86M | -202.03M | -176.95M | -65.34M | -55.33M | -51.52M |
| Other Financing Activities | -498.00K | -7.01M | -723.00K | -791.00K | -2.58M | -6.62M |
| Financing Cash Flow | -194.28M | -209.99M | -36.07M | -112.24M | -81.52M | 44.10M |
| Net Cash Flow | -113.58M | -132.38M | 88.77M | 421.26M | 75.17M | -24.44M |
| Free Cash Flow | 137.09M | 127.74M | 171.32M | 546.36M | 174.74M | -42.12M |
| Free Cash Flow Margin | 3.26% | 2.89% | 3.80% | 13.55% | 4.23% | -1.12% |
| Free Cash Flow Per Share | 5.20 | 4.67 | 5.99 | 19.03 | 6.14 | -1.41 |
| Levered Free Cash Flow | 43.87M | 54.47M | 174.71M | 397.10M | 38.42M | -152.62M |
| Unlevered Free Cash Flow | 40.45M | 51.10M | 171.46M | 394.22M | 35.85M | -155.20M |
| Cash Interest Paid | 788.00K | 1.48M | ||||
| Cash Income Tax Paid | 77.24M | 131.44M | 159.62M | 150.67M | 155.05M | 109.88M |
| Change in Working Capital | -219.05M | -322.25M | -307.67M | -7.89M | -367.53M | -376.38M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.32B | 3.35B | 3.62B | 3.84B | 1.27B | 1.81B |
| Enterprise Value | 3.69B | 3.59B | 3.88B | 4.05B | 2.15B | 2.55B |
| Last Close Price | 128.28 | 127.95 | 132.95 | 137.74 | 46.18 | 62.18 |
| PE Ratio | 12.60 | 8.30 | 6.42 | 8.24 | 2.58 | 4.56 |
| Forward PE | 12.59 | 8.38 | 6.55 | 8.40 | 3.75 | 4.58 |
| PS Ratio | 0.79 | 0.76 | 0.80 | 0.95 | 0.31 | 0.48 |
| PB Ratio | 0.99 | 1.06 | 1.23 | 1.52 | 0.61 | 1.11 |
| P/TBV Ratio | 1.03 | 1.07 | 1.24 | 1.54 | 0.62 | 1.13 |
| P/FCF Ratio | 24.27 | 26.19 | 21.11 | 7.02 | 7.25 | |
| P/OCF Ratio | 22.11 | 24.36 | 20.12 | 6.95 | 6.88 | |
| PEG Ratio | 0.05 | 0.05 | 0.05 | 0.05 | 0.10 | |
| EV/Sales Ratio | 0.88 | 0.81 | 0.86 | 1.00 | 0.52 | 0.68 |
| EV/EBITDA Ratio | 9.23 | 6.42 | 5.48 | 6.85 | 3.33 | 4.82 |
| EV/EBIT Ratio | 9.67 | 6.62 | 5.61 | 7.03 | 3.41 | 4.95 |
| EV/FCF Ratio | 27.01 | 28.07 | 22.65 | 7.42 | 12.33 | |
| Debt / Equity Ratio | 0.31 | 0.33 | 0.35 | 0.36 | 0.48 | 0.62 |
| Debt / EBITDA Ratio | 2.39 | 1.79 | 1.43 | 1.54 | 1.51 | 1.87 |
| Debt / FCF Ratio | 7.27 | 8.06 | 6.05 | 1.68 | 5.72 | |
| Net Debt / Equity Ratio | 0.12 | 0.11 | 0.07 | 0.07 | 0.33 | 0.48 |
| Net Debt / EBITDA Ratio | 0.94 | 0.60 | 0.30 | 0.31 | 1.06 | 1.47 |
| Net Debt / FCF Ratio | 2.74 | 2.64 | 1.25 | 0.33 | 3.94 | -18.47 |
| Asset Turnover | 0.87 | 0.95 | 1.05 | 1.04 | 1.19 | 1.27 |
| Inventory Turnover | 0.94 | 1.04 | 1.12 | 1.07 | 1.17 | 1.30 |
| Quick Ratio | 1.15 | 1.21 | 1.46 | 1.61 | 0.63 | 0.45 |
| Current Ratio | 8.33 | 7.32 | 7.09 | 7.62 | 5.89 | 5.06 |
| Return on Equity (ROE) | 8.67% | 13.20% | 20.66% | 20.29% | 26.56% | 27.53% |
| Return on Assets (ROA) | 4.97% | 7.26% | 10.10% | 9.32% | 11.37% | 10.93% |
| Return on Invested Capital (ROIC) | 8.27% | 12.45% | 18.18% | 16.20% | 18.93% | 18.55% |
| Return on Capital Employed (ROCE) | 8.90% | 13.00% | 17.50% | 16.40% | 20.20% | 19.50% |
| Earnings Yield | 7.94% | 12.04% | 15.59% | 12.13% | 38.74% | 21.93% |
| FCF Yield | 4.12% | 3.82% | 4.74% | 14.24% | 13.79% | -2.33% |
| Buyback Yield / Dilution | 4.80% | 4.41% | 0.40% | -0.89% | 4.74% | -2.50% |