Meritage Homes CORP MTH

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

Meritage Homes Corporation ("Meritage Homes") is a leading designer and builder of single-family attached and detached homes. We primarily build in long-term high-growth markets of the United States and offer a variety of entry-level and first move-up homes. We have operations in three regions: West, Central and East, which are comprised of twelve states: Arizona, California, Colorado, Utah, Tennessee, Texas, Alabama, Florida, Georgia, Mississippi, North Carolina, and South Carolina. These three regions are our principal homebuilding reporting segments. We also operate a financial services segment, which offers title and escrow, mortgage, and insurance services to our homebuyers. Carefree Title Agency, Inc. ("Carefree Title"), our wholly-owned title company, provides title insurance and closing/settlement services to our homebuyers in certain states. Managing our own title operations allows us greater control over the entire escrow and closing cycles in addition to generating additional revenue. Meritage Homes Insurance Agency, Inc. ("Meritage Insurance"), our wholly-owned insurance broker, works in collaboration with insurance companies nationwide to offer homeowners insurance and other insurance products to our homebuyers. Our financial services operations also provide mortgage services to our homebuyers through an unconsolidated joint venture.

Last close 64.19 2026-10-23
Market cap $4.18B 2026-06-30 share count
52-week range 56.66 - 85.38

Valuation FY2025 figures against the last close

P/S—
P/E10.1x
P/FCF45.2x
EV/EBITDA—
Dividend yield2.9%
Diluted EPS6.35

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross profit ————————$566.5M$531.2M
SG&A $211.8M$230.9M$231.7M$193.0M$181.4M$159.0M$146.1M$138.5M$124.0M$123.8M
Interest expense $0$0$0$41.0K$318.0K$2.2M$8.4M$785.0K$3.9M$5.2M
Pre-tax income $584.6M$1.00B$949.4M$1.29B$954.8M$533.6M$302.9M$283.3M$247.5M$218.1M
Income tax $131.6M$216.7M$210.7M$297.1M$217.4M$110.1M$53.3M$55.9M$104.3M$68.5M
Net income $453.0M$786.2M$738.7M$992.2M$737.4M$423.5M$249.7M$227.3M$143.3M$149.5M
EPS, basic 6.4010.8510.0913.5219.6111.236.555.673.563.74
EPS, diluted 6.3510.729.9613.3719.2911.006.425.583.413.55
Shares, diluted (wtd. avg.) 71.3M73.3M74.1M74.2M38.2M38.5M38.9M40.7M42.2M42.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $775.2M$651.6M$921.2M$861.6M$618.3M$745.6M$319.5M$311.5M$170.7M$131.7M
Property, plant and equipment $46.6M$47.3M$49.0M$38.6M$37.3M$38.9M$50.6M$54.6M$33.6M$33.2M
Goodwill $33.0M$33.0M$33.0M$33.0M$33.0M$33.0M$33.0M$33.0M$33.0M$33.0M
Total assets $7.62B$7.16B$6.35B$5.77B$4.81B$3.86B$3.40B$3.37B$3.25B$2.89B
Total liabilities $2.43B$2.02B$1.74B$1.82B$1.76B$1.52B$1.42B$1.64B$1.67B$1.47B
Retained earnings $5.19B$5.00B$4.32B$3.62B$2.63B$1.89B$1.47B$1.22B$991.8M$848.6M
Total equity $5.20B$5.14B$4.61B$3.95B$3.04B$2.35B$1.97B$1.72B$1.58B$1.42B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $118.3M-$227.6M$355.6M$405.3M-$152.1M$530.4M$346.8M$262.2M-$87.1M-$103.4M
Depreciation and amortisation $25.3M$26.0M$25.3M$24.7M$26.2M$31.1M$27.9M$27.0M$16.7M$16.0M
Stock-based compensation $19.7M$25.8M$22.5M$22.3M$20.1M$20.0M$19.6M$17.2M$12.1M$13.7M
Capital expenditure $25.7M$28.7M$38.2M$27.0M$25.7M$19.9M$24.4M$33.4M$18.1M$16.7M
Investing cash flow -$57.7M-$44.1M-$43.6M-$32.3M-$26.8M-$18.2M-$13.5M-$33.5M-$17.1M-$20.1M
Financing cash flow $63.0M$2.0M-$252.3M-$129.8M$51.6M-$86.0M-$325.3M-$88.0M$143.2M-$7.0M
Dividends paid $121.1M$108.6M$39.5M$0$0—————
Buybacks $295.0M$125.9M$59.1M$109.3M$61.0M$69.6M$16.0M$100.0M$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 0000833079-26-000098.

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 250M 500M 750M 1B Gross profit, FY2016: 531.2M Net income, FY2016: 149.5M Gross profit, FY2017: 566.5M Net income, FY2017: 143.3M Net income, FY2018: 227.3M Net income, FY2019: 249.7M Net income, FY2020: 423.5M Net income, FY2021: 737.4M Net income, FY2022: 992.2M Net income, FY2023: 738.7M Net income, FY2024: 786.2M Net income, FY2025: 453M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — — — — — — — — —
Gross profit $531.2M $566.5M — — — — — — — —
Net income $149.5M $143.3M $227.3M $249.7M $423.5M $737.4M $992.2M $738.7M $786.2M $453.0M

Recent filings and events

  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. 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
  • 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
  • Officer or director change Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • 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

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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KBH KB HOME $2.88B 7.7x -10.0%
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