M/I HOMES, INC. MHO

Industrials SIC 1531 - Operative Builders NAICS Construction › Construction of Buildings › Residential Building Construction derived NYSE

M/I Homes, Inc. and subsidiaries is one of the nation's leading builders of single-family homes. The Company commenced homebuilding activities in 1976 marking 2026 as our 50th year in business. Since that time, the Company has sold over 168,200 homes. Unless this Form 10-K otherwise indicates or the context otherwise requires, the terms the "Company," "we," "us" and "our" refer to M/I Homes, Inc. and its subsidiaries.

The Company consists of two distinct operations: homebuilding and financial services. Our homebuilding operations are aggregated for reporting purposes into two reporting segments - the Northern and Southern regions. Our financial services operations support our homebuilding operations by providing mortgage loans and title services to the customers of our homebuilding operations and are reported as an independent segment.

Last close 123.97 2026-10-23
Market cap $3.13B 2026-06-30 share count
52-week range 113.40 - 163.66

Valuation FY2025 figures against the last close

P/S0.7x
P/E8.4x
P/FCF24.5x
EV/EBITDA6.0x
Dividend yield—
Diluted EPS14.74

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Southern Homebuilding
  • Northern Homebuilding
  • Financial Service
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 Southern Homebuilding, FY2025: 2.4B (54.4%) 54% Southern Homebuilding Northern Homebuilding, FY2025: 1.9B (42.8%) 43% Northern Homebuilding Financial Service, FY2025: 125.5M (2.8%) FY2024 Southern Homebuilding, FY2024: 2.5B (55.2%) 55% Northern Homebuilding, FY2024: 1.9B (42.2%) 42% Financial Service, FY2024: 116.2M (2.6%) FY2023 Southern Homebuilding, FY2023: 2.4B (59.9%) 60% Northern Homebuilding, FY2023: 1.5B (37.8%) 38% Financial Service, FY2023: 93.8M (2.3%)
Region FY2025FY2024FY2023
Southern Homebuilding $2.40B $2.49B $2.42B
Northern Homebuilding $1.89B $1.90B $1.52B
Financial Service $125.5M $116.2M $93.8M

As the company reported it, from the “Business Segments Business Segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.42B$4.50B$4.03B$4.13B$3.75B$3.05B$2.50B$2.29B$1.96B$1.69B
Cost of revenue $3.40B$3.31B$3.01B$3.09B$2.84B$2.36B$2.01B$1.84B$1.56B—
Gross profit $1.02B$1.20B$1.02B$1.04B$908.9M$684.8M$494.4M$449.6M$400.9M—
SG&A $262.8M$258.4M$222.8M$214.8M$192.0M$177.5M$148.0M$137.8M$126.3M$111.6M
Total operating expenses $3.89B$3.77B$3.43B$3.50B$3.24B$2.74B$2.33B$2.14B$1.84B$1.60B
Operating income $506.6M$706.1M$587.2M$637.5M$518.3M$319.3M$187.1M$163.2M$138.7M$108.7M
Interest expense ——$20.0M$2.2M$2.2M$9.7M$21.4M$20.5M$18.9M$17.6M
Pre-tax income $526.5M$733.6M$607.3M$635.2M$509.1M$310.0M$166.0M$141.3M$120.3M$91.8M
Income tax $123.6M$169.9M$141.9M$144.5M$112.2M$70.2M$38.4M$33.6M$48.2M$35.2M
Net income $402.9M$563.7M$465.4M$490.7M$396.9M$239.9M$127.6M$107.7M$72.1M$56.6M
EPS, basic 15.0720.2916.7617.6013.648.384.583.812.572.10
EPS, diluted 14.7419.7116.2117.2413.288.234.483.702.261.84
Shares, diluted (wtd. avg.) 27.3M28.6M28.7M28.5M29.9M29.2M28.5M29.2M30.7M30.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $689.2M$821.6M$732.8M$311.5M$236.4M$260.8M$6.1M$21.5M$151.7M$34.4M
Property, plant and equipment $34.3M$34.5M$34.9M$37.4M$37.6M$26.6M$22.1M$29.4M$26.8M$22.3M
Goodwill $16.4M$16.4M$16.4M$16.4M$16.4M$16.4M$16.4M$16.4M$0—
Total assets $4.78B$4.55B$4.02B$3.71B$3.24B$2.64B$2.11B$2.02B$1.86B$1.55B
Total liabilities $1.61B$1.61B$1.51B$1.64B$1.62B$1.38B$1.10B$1.17B$1.12B$894.3M
Retained earnings $3.27B$2.87B$2.30B$1.84B$1.35B$948.5M$708.6M$581.0M$473.3M$407.2M
Total equity $3.17B$2.94B$2.52B$2.07B$1.62B$1.26B$1.00B$855.3M$747.3M$654.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $137.3M$179.7M$552.1M$184.1M-$16.8M$168.3M$65.6M-$2.6M-$53.2M$34.2M
Depreciation and amortisation $18.9M$17.4M$15.8M$17.2M$16.9M$17.6M$15.9M$14.5M$14.2M$13.6M
Stock-based compensation $17.0M$14.6M$11.4M$8.8M$8.6M$7.1M$5.8M$6.0M$6.0M$5.3M
Capital expenditure $9.6M$8.4M$5.8M$9.3M$25.3M$11.7M$4.5M$8.1M$8.8M$13.1M
Investing cash flow -$59.7M-$54.9M-$18.6M-$27.4M-$51.7M-$33.9M-$27.6M-$134.0M-$9.2M-$31.6M
Financing cash flow -$210.0M-$36.1M-$112.2M-$81.5M$44.1M$120.3M-$53.5M$6.4M$179.6M$18.8M
Dividends paid ——————$0$0$3.7M$4.9M
Buybacks $202.0M$177.0M$65.3M$55.3M$51.5M$1.9M$5.2M$25.7M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-150356.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B Revenue, FY2016: 1.7B Net income, FY2016: 56.6M Revenue, FY2017: 2B Gross profit, FY2017: 400.9M Net income, FY2017: 72.1M Revenue, FY2018: 2.3B Gross profit, FY2018: 449.6M Net income, FY2018: 107.7M Revenue, FY2019: 2.5B Gross profit, FY2019: 494.4M Net income, FY2019: 127.6M Revenue, FY2020: 3B Gross profit, FY2020: 684.8M Net income, FY2020: 239.9M Revenue, FY2021: 3.7B Gross profit, FY2021: 908.9M Net income, FY2021: 396.9M Revenue, FY2022: 4.1B Gross profit, FY2022: 1B Net income, FY2022: 490.7M Revenue, FY2023: 4B Gross profit, FY2023: 1B Net income, FY2023: 465.4M Revenue, FY2024: 4.5B Gross profit, FY2024: 1.2B Net income, FY2024: 563.7M Revenue, FY2025: 4.4B Gross profit, FY2025: 1B Net income, FY2025: 402.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.69B $1.96B $2.29B $2.50B $3.05B $3.75B $4.13B $4.03B $4.50B $4.42B
Gross profit — $400.9M $449.6M $494.4M $684.8M $908.9M $1.04B $1.02B $1.20B $1.02B
Net income $56.6M $72.1M $107.7M $127.6M $239.9M $396.9M $490.7M $465.4M $563.7M $402.9M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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