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M/I Homes

MHO NYSE Homebuilding Financials FY2016–FY2025

M/I Homes' revenue fell 1.9% to $4.4 billion in fiscal 2025. Its operating margin was 11.5%, down from 15.7% a year earlier. Free cash flow was $128 million, down 25.4%. It paid out $202 million in dividends and buybacks, 158% of free cash flow. The diluted share count fell 4.4%.

Last close · Oct 23, 2026

$123.97

0.5%
Value it Compare
Revenue Total sales reported in the income statement.
$4.4B
1.9% vs prior year
Operating margin Operating income as a share of revenue.
11.5%
4.2 pts
Net income Profit after all expenses, interest and tax.
$403M
28.5%
Free cash flow Cash from operations minus capital spending.
$128M
25.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$3.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
11.8x
On $10.55 EPS (TTM)

What M/I Homes does

No business description yet.

Legal name
M/I HOMES, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000799292-26-000006
0000799292

Revenue and margins

M/I Homes had $4.4B of revenue in fiscal 2025, down 1.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 26.0% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $128M in fiscal 2025, 2.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

M/I Homes returned $202M to shareholders in fiscal 2025, 158% of free cash flow. The diluted share count fell 4.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value M/I Homes yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 27.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 11.8x · peers 13.0x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably M/I Homes can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $236M$312M$733M$822M$689M
Interest coverage 240.4x283.3x29.3x1,106.7x616.2x
Total assets $3.2B$3.7B$4.0B$4.5B$4.8B
Total liabilities $1.6B$1.6B$1.5B$1.6B$1.6B
Shareholders' equity $1.6B$2.1B$2.5B$2.9B$3.2B
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$14.1M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 5, 2026 Phillip G CreekEx. Vice President and CFO, Director Sold 10,000 $151.28 $1.5M Form 4
Aug 4, 2026 Phillip G CreekEx. Vice President and CFO, Director Sold 20,000 $149.56 $3.0M Form 4
Aug 3, 2026 Phillip G CreekEx. Vice President and CFO, Director Sold 10,000 $148.00 $1.5M Form 4
Jul 31, 2026 Phillip G CreekEx. Vice President and CFO, Director Sold 10,000 $150.00 $1.5M Form 4
May 21, 2026 Nancy J KramerDirector Sold 1,822 $125.56 $0.2M Form 4
Feb 20, 2026 Phillip G CreekEx. Vice President and CFO, Director Sold 2,205 $142.18 $0.3M Form 4
Feb 19, 2026 Susan E KrohneChief Legal Officer, Secretary Sold 661 $143.59 $0.1M Form 4
Feb 18, 2026 Ann Marie HunkerPrincipal Accounting Officer Sold 121 $145.50 $0.0M Form 4
Feb 18, 2026 Phillip G CreekEx. Vice President and CFO, Director Sold 1,805 $145.50 $0.3M Form 4
Feb 18, 2026 Robert H SchottensteinChairman, CEO & President, Director Sold 27,608 $144.31 $4.0M Form 4
Feb 18, 2026 Susan E KrohneChief Legal Officer, Secretary Sold 542 $145.50 $0.1M Form 4
Feb 13, 2026 Phillip G CreekEx. Vice President and CFO, Director Sold 10,887 $149.03 $1.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✕ ✕
Debt fell relative to assets — — —
Current ratio rose — — —
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✕ ✓ ✕
Revenue rose relative to assets ✕ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −2.2%9.0%5.7%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
M/I Homes MHO $3.2B −1.9% 11.5% 2.9% — 11.8x —
Dream Finders Homes DFH $936M −2.9% — −2.9% 17.2% 7.2x — Compare →
Century Communities CCS $1.7B −6.4% — 3.0% — 12.7x — Compare →
KB Home KBH $2.9B −10.0% — 4.6% — 13.3x — Compare →
Installed Building Products IBP $5.3B 1.0% 13.0% 10.1% 22.6% 21.5x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.7B $2.0B $2.3B $2.5B $3.0B $3.7B $4.1B $4.0B $4.5B $4.4B
Gross profit — $401M $450M $494M $685M $909M $1.0B $1.0B $1.2B $1.0B
Operating income $109M $139M $163M $187M $319M $518M $638M $587M $706M $507M
Interest expense $17.6M $18.9M $20.5M $21.4M $9.7M $2.2M $2.2M −$20.0M $0.6M $0.8M
Pretax income $91.8M $120M $141M $166M $310M $509M $635M $607M $734M $527M
Income tax $35.2M $48.2M $33.6M $38.4M $70.2M $112M $145M $142M $170M $124M
Net income $56.6M $72.1M $108M $128M $240M $397M $491M $465M $564M $403M
Diluted EPS $1.84 $2.26 $3.70 $4.48 $8.23 $13.28 $17.24 $16.21 $19.71 $14.74
Diluted shares 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B
Cash flow
Cash from operations $34.2M −$53.2M −$2.6M $65.6M $168M −$16.8M $184M $552M $180M $137M
Capital expenditure $13.1M $8.8M $8.1M $4.5M $11.7M $25.3M $9.3M $5.8M $8.4M $9.6M
Free cash flow $21.1M −$62.0M −$10.7M $61.1M $157M −$42.1M $175M $546M $171M $128M
Depreciation and amortization $13.6M $14.2M $14.5M $15.9M $17.6M $16.9M $17.2M $15.8M $17.4M $18.9M
Stock-based compensation $5.3M $6.0M $6.0M $5.8M $7.1M $8.6M $8.8M $11.4M $14.6M $17.0M
Acquisitions $0.0M $0.0M $101M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $25.7M $5.1M $1.9M $51.5M $55.3M $65.3M $177M $202M
Dividends paid $4.9M $3.7M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $4.9M $3.7M $25.7M $5.2M $1.9M $51.5M $55.3M $65.3M $177M $202M
Balance sheet
Cash and short-term investments $34.4M $152M $21.5M $6.1M $261M $236M $312M $733M $822M $689M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $22.3M $26.8M $29.4M $22.1M $26.6M $37.6M $37.4M $34.9M $34.5M $34.3M
Total assets $1.5B $1.9B $2.0B $2.1B $2.6B $3.2B $3.7B $4.0B $4.5B $4.8B
Total liabilities $894M $1.1B $1.2B $1.1B $1.4B $1.6B $1.6B $1.5B $1.6B $1.6B
Shareholders' equity $654M $747M $855M $1.0B $1.3B $1.6B $2.1B $2.5B $2.9B $3.2B
Margins
Gross margin — 20.4% 19.7% 19.8% 22.5% 24.3% 25.3% 25.3% 26.6% 23.0%
Operating margin 6.4% 7.1% 7.1% 7.5% 10.5% 13.8% 15.4% 14.6% 15.7% 11.5%
EBITDA margin 7.2% 7.8% 7.8% 8.1% 11.1% 14.3% 15.9% 15.0% 16.1% 11.9%
Net margin 3.4% 3.7% 4.7% 5.1% 7.9% 10.6% 11.9% 11.5% 12.5% 9.1%
FCF margin 1.3% −3.2% −0.5% 2.4% 5.1% −1.1% 4.2% 13.6% 3.8% 2.9%
Returns
Return on equity 9.1% 10.3% 13.4% 13.7% 21.2% 27.5% 26.6% 20.3% 20.7% 13.2%
Return on assets 3.8% 4.2% 5.5% 6.2% 10.1% 13.5% 14.1% 12.0% 13.2% 8.6%
Growth
Revenue growth 19.2% 16.0% 16.5% 9.4% 21.8% 23.0% 10.3% −2.4% 11.7% −1.9%
Net income growth 9.4% 27.3% 49.4% 18.5% 88.0% 65.5% 23.6% −5.2% 21.1% −28.5%
EPS growth 9.5% 22.8% 63.7% 21.1% 83.7% 61.4% 29.8% −6.0% 21.6% −25.2%
FCF growth — −393.9% — — 156.4% −126.9% — 212.7% −68.6% −25.4%
Share count change 0.2% 1.9% −4.9% −2.4% 2.4% 2.5% −4.7% 0.9% −0.4% −4.4%
Financial health
Interest coverage 6.2x 7.4x 8.0x 8.8x 33.0x 240.4x 283.3x 29.3x 1,106.7x 616.2x
Capital allocation
Capex / revenue 0.8% 0.5% 0.4% 0.2% 0.4% 0.7% 0.2% 0.1% 0.2% 0.2%
Stock comp / revenue 0.3% 0.3% 0.3% 0.2% 0.2% 0.2% 0.2% 0.3% 0.3% 0.4%
Payouts / FCF 23.1% — — 8.4% 1.2% — 31.7% 12.0% 103.3% 158.2%
Quality scores
Accruals ratio 1.5% 7.3% 5.7% 3.0% 3.0% 14.1% 8.8% −2.2% 9.0% 5.7%

Source: SEC EDGAR XBRL filings (CIK 0000799292). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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