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MHO

M/I Homes, Inc.

MHO

M/I Homes, Inc. • NYSE
$137.59 ▼ -1.41% (-1.97)
Market Cap $3.60 B
52w High $168.50
52w Low $100.22
Dividend Yield 0%
P/E 8.08
Volume 106.20K
Outstanding Shares 26.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.132B ▼ $134.748M ▲ $106.49M ▼ 9.409% ▼ $4.01 ▼ $168.631M ▲
Q2-2025 $1.163B ▲ $130.902M ▲ $121.243M ▲ 10.429% ▼ $4.52 ▲ $164.998M ▲
Q1-2025 $973.365M ▼ $111.859M ▼ $111.237M ▼ 11.428% ▲ $4.07 ▼ $150.067M ▼
Q4-2024 $1.205B ▲ $132.834M ▲ $133.469M ▼ 11.074% ▼ $4.85 ▼ $167.978M ▼
Q3-2024 $1.14B $127.448M $145.449M 12.758% $5.26 $192.68M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $734.174M ▼ $4.77B ▲ $1.62B ▼ $3.149B ▲
Q2-2025 $800.398M ▲ $4.74B ▲ $1.658B ▲ $3.082B ▲
Q1-2025 $776.378M ▼ $4.585B ▲ $1.579B ▼ $3.006B ▲
Q4-2024 $822.002M ▲ $4.55B ▲ $1.61B ▼ $2.94B ▲
Q3-2024 $719.92M $4.46B $1.615B $2.845B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $106.49M ▼ $43.414M ▲ $-15.452M ▼ $-94.186M ▼ $-66.224M ▼ $42.01M ▲
Q2-2025 $121.243M ▲ $37.755M ▼ $-12.318M ▼ $-1.417M ▲ $24.02M ▲ $35.146M ▼
Q1-2025 $111.237M ▼ $64.887M ▼ $-2.928M ▲ $-107.151M ▼ $-45.192M ▼ $63.548M ▼
Q4-2024 $133.469M ▼ $104.395M ▲ $-9.859M ▲ $7.114M ▲ $101.65M ▲ $102.328M ▲
Q3-2024 $145.449M $-67.942M $-17.496M $-32.1M $-117.538M $-68.522M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Construction
Construction
 $1.11Bn ▲$1.18Bn ▲$940.00M ▼$1.12Bn ▲
Land
Land
 $0 ▲$0 ▲$0 ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended steadily higher over the past five years, with only a small pause in growth before reaching a new high most recently. Profitability looks strong for a homebuilder: gross and operating profits have generally improved, and net income per share has risen significantly over the period. There was a mild step back in earnings in the middle of the period, but margins recovered, suggesting the company has handled cost pressures and housing-cycle swings reasonably well.

Balance Sheet

Balance Sheet The balance sheet has become meaningfully stronger. Total assets and shareholders’ equity have grown consistently, indicating that the company is building its capital base rather than relying only on borrowing. Debt levels have stayed relatively stable while equity has risen, which likely means leverage has come down. Cash on hand is much higher than it was several years ago, providing a better liquidity cushion in a cyclical industry like homebuilding.

Cash Flow

Cash Flow Cash generation has been more volatile than earnings, which is typical for a homebuilder given swings in land purchases and construction activity. There was one year with slightly negative operating cash flow, followed by a year of very strong inflows that helped build the cash balance. Free cash flow overall has been positive over the five-year period, and capital spending remains modest, but investors should expect ongoing ups and downs in cash flow as the company manages its lot and home inventory.

Competitive Edge

Competitive Edge M/I Homes competes in a tough, cyclical industry but appears to have carved out a respectable niche. Its brand leans on quality, customer satisfaction, and a stronger-than-average warranty, which can be important in winning referrals. The company serves a wide range of buyers—from first-time to move‑up and downsizing customers—helping it balance demand across economic conditions. Geographic diversification across multiple growing markets reduces reliance on any single region, though the business remains sensitive to interest rates, local job markets, and competition from larger national builders.

Innovation and R&D

Innovation and R&D Innovation here is more about process and product design than flashy technology. The company’s Whole Home Building Standards and energy-efficiency focus give buyers a clear value story on comfort and utility savings. Its smart‑home package and “Smart Series” simplified designs make the buying and building process easier and faster, which can lower costs and appeal to budget-conscious or first-time buyers. Future gains are likely to come from steady improvements in sustainability, smart‑home features, and digital tools for designing and purchasing homes, rather than from any single breakthrough.

Summary

Overall, M/I Homes shows a pattern of solid growth in sales and earnings, with only modest interruptions despite a choppy housing backdrop. The balance sheet has strengthened, with more equity and cash and relatively contained debt, giving the company more resilience in downturns. Cash flow is lumpy but generally positive, reflecting the realities of managing land and construction in a cyclical business. Competitively, its emphasis on quality, warranties, energy efficiency, and a streamlined buying experience—supported by in‑house mortgage and title services—creates a differentiated, customer‑centric offering. Key things to watch include the housing cycle, interest rates, land and construction costs, and the company’s ability to keep margins and cash flow healthy while it continues to invest in new communities and incremental product and technology enhancements.

NEWS

November 12, 2025 · 4:15 PM UTC

M/I Homes Announces $250 million Share Repurchase Authorization

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October 22, 2025 · 7:30 AM UTC

M/I Homes Reports 2025 Third Quarter Results

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September 19, 2025 · 7:30 AM UTC

M/I Homes Announces Extension of Credit Facility to 2030 and Increase to $900 Million

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September 12, 2025 · 7:45 AM UTC

M/I Homes, Inc. Announces Third Quarter Webcast

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