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M/i Homes, Inc. (MHO) stock

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NYSE: MHO NYSE Homebuilding Next results ~January 27, 2027

C Fundamentals grade

M/i Homes, Inc. is a US-listed company in the homebuilding industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$120

Cash-flow model

Base case. Range ~$93–$150 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 15% above our base value.

Price used: $132.76, November 2, 2026

M/i Homes, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 41 sales by directors and officers, last 12 monthsInsider trades
  • Funds182 adding, 156 cuttingOf 55 active managers that changed their stake, 26 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter M/i Homes files

Where M/i Homes stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $4.21bn, down 6.0% on a year earlier, a steeper fall than the 5.0% decline a quarter earlier. Free-cash-flow margin fell to 3.3% from 5.4% a year earlier. Operating margin narrowed to 8.2% from 13.3%. The diluted share count is down 4.8% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. Our cash-flow model value is $118 a share, against a share price of $125. At that price, our model says the market is pricing in about 3.1% a year of cash-flow growth for five years, close to the 2.4% a year revenue growth it has delivered.

Source: 10-Q filed October 23, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

M/i Homes, Inc.'s trailing-twelve-month revenue fell 6.0% year on year, with a free-cash-flow margin of 3.3%.

Our discounted-cash-flow model values the business at ~$120 per share in the base case (~$93–$150 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 18% in the quarter to 2026-09-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 4.8% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.6bn.

Things to watch

  • Revenue shrinking. Revenue fell 6.0% over the last 12 months.
  • Margins narrowing. Operating margin is down 5.1 points on a year ago.
  • Insiders selling. 5 insiders sold $25M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Gross margin slipping. Gross margin is down 4.0 points on a year ago.
  • Weak cash conversion. Free cash flow was 49% of net income over the last 12 months.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed October 23, 2026
Earnings per share
$2.70 against an average estimate of $3.30: missed by 18.2%
Revenue
$1.08bn, down 4.9% on a year earlier
Share reaction
-0.6% in the first session after the results on October 21, 2026, against -0.7% for the S&P 500
Next report
October 21, 2026; average EPS estimate $2.53

M/i Homes' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.5%
  • 1 week+6.6%
  • 1 month-1.5%
  • This year+3.8%
  • 1 year+6.0%
  • 5 years+128.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.2B
Operating margin
8.2%
Net margin
6.6%
EPS (TTM, diluted)
$10.52

Growth

Revenue growth
−6.0%
Change in growth rate
−1.0 pts
Share count change
−4.8%

Cash

Free cash flow (TTM)
$137M
FCF margin
3.3%
Stock pay % of revenue
0.4%

Earnings

Last results
October 21, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Our research
  3. Results
  4. Buyback
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Insider trade
  9. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

M/i Homes, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 4.3% a year of cash-flow growth for five years.That is close to the 2.4% a year revenue growth M/i Homes has delivered.

  • Priced in4.3%
  • Last 12 months-6.0%
  • 3 years a year-0.6%
  • 5 years a year2.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($131.36, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$120
Price used
$131.36close November 3, 2026
Implied change
▼ 12%
Uncertainty
Low

How we got here: a discounted-cash-flow model of M/i Homes, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($147M, FY2026 Q3 TTM), growing 0% and 1.7% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$93–~$150 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of M/i Homes, Inc.'s free cash flow after stock-based pay ( $147M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value M/i Homes, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.85 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$120 ~$93–$150 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$180 ~$160–$230 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$320 ~$240–$450 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$340 ~$290–$420 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$220 ~$120–$340 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare M/i Homes, Inc. with Homebuilding in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −20%
  • Revenue growth 5 points higher ▲ +26%
  • Free-cash-flow margin 1 point lower ▼ −24%
  • Last year's free-cash-flow margin change, if it persists ▼ −34%
  • Discount rate 1 point higher ▼ −11%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $106$135$174$225$292$378
8.5% $87$108$136$172$220$281
10% $75$91$113$141$177$224

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$21.92$25.18$34.40$21.02$39.35$44.29$62.18$46.18$137.74$132.95$127.95$132.76
Market value$659m$758m$1.1bn$613m$1.1bn$1.3bn$1.9bn$1.3bn$4.0bn$3.8bn$3.5bn$3.5bn
+ Net debt (− = net cash)−$9m−$31m−$152m−$22m−$6m−$261m−$236m−$312m−$733m−$822m−$689m−$621m
Enterprise value$649m$727m$904m$592m$1.1bn$1.0bn$1.6bn$1.0bn$3.2bn$3.0bn$2.8bn$2.9bn
Multiples
Price / sales 0.5x0.4x0.5x0.3x0.4x0.4x0.5x0.3x1.0x0.8x0.8x0.8x
Price / earnings 12.7x13.4x14.6x5.7x8.8x5.4x4.7x2.7x8.5x6.7x8.7x12.6x
Price / free cash flow —36.0x——18.3x8.2x—7.5x7.2x22.2x27.4x25.5x
EV / EBITDA 5.3x5.9x5.9x3.3x5.5x3.1x3.0x1.5x5.3x4.1x5.3x7.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

61 /100

Moderate moat

How hard M/i Homes's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 14 / 20

    Net income has been a median 9.1% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 22.9%, moving by 2.6 percentage points (standard deviation) across 10 years.

  • Durability 11 / 20

    Operating margin has been a median 11.4%; its worst year was 7.0%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 2.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 11.6% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $10.67 −28% $4.1bn −7%
Next $11.22 +5% $4.2bn +1%

Next year's EPS estimate has moved −26.3% in 90 days, across 4 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $3.30 $2.70 −18.2%
Jun 2026 $3.13 $3.14 +0.5%
Mar 2026 $2.51 $2.55 +1.6%
Dec 2025 $3.88 $2.39 −38.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 21, 2026

No numeric guidance in M/i Homes, Inc.'s latest earnings release (filed October 21, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows M/i Homes, Inc.'s revenue by -0.0% next year and +1.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-1.4%, weight 60%) and the company's own record (+2.0%, weight 40%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 20261214
  2. Sep 20261214
  3. Aug 20261214
  4. Jul 20261214

Counts of recommendations published by analysts covering M/i Homes, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.3%
of tradable shares
Days to cover
7.27
at average volume
Short interest, 1 month
+0%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
2.2%
of shares
Employees
1,801
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +6.0%

$125.19 on October 31, 2025 to $132.76

ThenNowEffect
Revenue (last 12 months) $4.5bn $4.3bn −5.0%
Net margin 11.4% 7.4% −34.7%
P/E multiple 6.9x 11.2x +62.6%
Share count 28m 27m +5.1%

Biggest factor: p/e multiple.

Last 3 years +40.0%

$94.80 on November 3, 2023 to $132.76

ThenNowEffect
Revenue (last 12 months) $4.2bn $4.3bn +0.4%
Net margin 11.4% 7.4% −34.6%
P/E multiple 5.5x 11.2x +101.2%
Share count 28m 27m +6.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MHO+40%−26%+198%−4%−4%+4%
Industry peers (median)+54%−29%+88%−3%−12%+3%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MHO58%42%67%42%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MHO−26%−43%−26%−24%−25%−30%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 80% from January 23, 2020 to March 18, 2020. Getting back needed a 390% gain, reached on October 9, 2020, 205 days after the low.

Price behaviour

52-week range
$114.04 – $163.00
From 52-week high
−18.6%
vs 50-day average
−2.3%
vs 200-day average
−3.5%
Volatility (1 year)
34%
Beta vs S&P 500
0.73

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±2.6%
After a week
3 up, 9 down
typical move ±5.6%
After a month
5 up, 6 down
typical move ±6.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 21, 2026 −0.6% −0.7% −0.4% —
July 29, 2026 −0.5% +0.1% −1.1% −0.8%
April 22, 2026 +4.5% +0.6% +0.9% +0.1%
January 28, 2026 +6.0% −0.2% +7.9% +10.5%
October 22, 2025 −5.8% +0.1% −10.9% −11.3%
July 23, 2025 −1.8% +0.9% −2.0% +12.5%
April 23, 2025 −1.9% +3.7% −2.4% −2.8%
January 29, 2025 −3.9% +0.1% −10.6% −13.4%
October 30, 2024 −1.2% −2.3% +4.9% +7.5%
July 30, 2024 +0.1% +1.1% −11.9% −4.3%
April 24, 2024 +0.7% −0.4% −2.6% +2.7%
January 31, 2024 −4.6% −0.3% −11.1% −2.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How M/i Homes, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

M/i Homes, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) M/i Homes, Inc.
$4B $4.2B $4.4B $4.6B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $4B Revenue (TTM), FY24 Q1: $4.1B Revenue (TTM), FY24 Q2: $4.2B Revenue (TTM), FY24 Q3: $4.3B Revenue (TTM), FY24 Q4: $4.5B Revenue (TTM), FY25 Q1: $4.4B Revenue (TTM), FY25 Q2: $4.5B Revenue (TTM), FY25 Q3: $4.5B Revenue (TTM), FY25 Q4: $4.4B Revenue (TTM), FY26 Q1: $4.4B Revenue (TTM), FY26 Q2: $4.3B Revenue (TTM), FY26 Q3: $4.2B $4.2B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $4B
FY24 Q1 $4.1B
FY24 Q2 $4.2B
FY24 Q3 $4.3B
FY24 Q4 $4.5B
FY25 Q1 $4.4B
FY25 Q2 $4.5B
FY25 Q3 $4.5B
FY25 Q4 $4.4B
FY26 Q1 $4.4B
FY26 Q2 $4.3B
FY26 Q3 $4.2B
Revenue growth, TTM YoY M/i Homes, Inc.
-10% -5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -2.4% Revenue growth, TTM YoY, FY24 Q1: -4.5% Revenue growth, TTM YoY, FY24 Q2: -1.6% Revenue growth, TTM YoY, FY24 Q3: -0.1% Revenue growth, TTM YoY, FY24 Q4: 11.7% Revenue growth, TTM YoY, FY25 Q1: 8.7% Revenue growth, TTM YoY, FY25 Q2: 7.5% Revenue growth, TTM YoY, FY25 Q3: 4.8% Revenue growth, TTM YoY, FY25 Q4: -1.9% Revenue growth, TTM YoY, FY26 Q1: -1.6% Revenue growth, TTM YoY, FY26 Q2: -5.0% Revenue growth, TTM YoY, FY26 Q3: -6.0% -6.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -2.4%
FY24 Q1 -4.5%
FY24 Q2 -1.6%
FY24 Q3 -0.1%
FY24 Q4 11.7%
FY25 Q1 8.7%
FY25 Q2 7.5%
FY25 Q3 4.8%
FY25 Q4 -1.9%
FY26 Q1 -1.6%
FY26 Q2 -5.0%
FY26 Q3 -6.0%
Operating margin (TTM) M/i Homes, Inc.
8% 10% 12% 14% 16% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 14.6% Operating margin (TTM), FY24 Q1: 15.3% Operating margin (TTM), FY24 Q2: 15.9% Operating margin (TTM), FY24 Q3: 15.7% Operating margin (TTM), FY24 Q4: 15.7% Operating margin (TTM), FY25 Q1: 15.2% Operating margin (TTM), FY25 Q2: 14.3% Operating margin (TTM), FY25 Q3: 13.3% Operating margin (TTM), FY25 Q4: 11.5% Operating margin (TTM), FY26 Q1: 10.4% Operating margin (TTM), FY26 Q2: 9.3% Operating margin (TTM), FY26 Q3: 8.2% 8.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 14.6%
FY24 Q1 15.3%
FY24 Q2 15.9%
FY24 Q3 15.7%
FY24 Q4 15.7%
FY25 Q1 15.2%
FY25 Q2 14.3%
FY25 Q3 13.3%
FY25 Q4 11.5%
FY26 Q1 10.4%
FY26 Q2 9.3%
FY26 Q3 8.2%
FCF margin (TTM) M/i Homes, Inc.
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 13.5% FCF margin (TTM), FY24 Q1: 10.1% FCF margin (TTM), FY24 Q2: 6.4% FCF margin (TTM), FY24 Q3: 2.9% FCF margin (TTM), FY24 Q4: 3.8% FCF margin (TTM), FY25 Q1: 2.7% FCF margin (TTM), FY25 Q2: 3.0% FCF margin (TTM), FY25 Q3: 5.4% FCF margin (TTM), FY25 Q4: 2.9% FCF margin (TTM), FY26 Q1: 4.6% FCF margin (TTM), FY26 Q2: 4.6% FCF margin (TTM), FY26 Q3: 3.3% 3.3%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 13.5%
FY24 Q1 10.1%
FY24 Q2 6.4%
FY24 Q3 2.9%
FY24 Q4 3.8%
FY25 Q1 2.7%
FY25 Q2 3.0%
FY25 Q3 5.4%
FY25 Q4 2.9%
FY26 Q1 4.6%
FY26 Q2 4.6%
FY26 Q3 3.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar M/i Homes took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $4.4B
  2. Cost of revenue $3.4B · 77.0%
  3. Gross profit $1B · 23.0%
  4. Selling, general and admin $263M · 5.9%
  5. Other operating costs $248M · 5.6%
  6. Operating income $507M · 11.5%
  7. Income tax $124M · 2.8%
  8. Net income $403M · 9.1%

Shares of revenue. Source: M/i Homes's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 570 616 566 762 1,037 1,215 1,418 1,691 1,962 2,286 2,500 3,046 3,746 4,131 4,034 4,505 4,418 4,207
Gross profit — — — — — — — — 401 450 494 685 909 1,044 1,019 1,199 1,017 870
EBITDA — −4 −11 39 67 91 123 122 153 178 203 337 535 655 603 723 525 366
Operating income — −10 −19 29 59 83 112 109 139 163 187 319 518 637 587 706 507 345
Net income −62 −26 −34 13 151 51 52 57 72 108 128 240 397 491 465 564 403 277
Diluted EPS −$3.71 −$1.42 −$1.81 $0.67 $5.24 $1.65 $1.68 $1.84 $2.26 $3.70 $4.48 $8.23 $13.28 $17.24 $16.21 $19.71 $14.74 $10.52
Growth (year on year)
Revenue — +8.1% −8.1% +34.5% +36.1% +17.2% +16.7% +19.2% +16.0% +16.5% +9.4% +21.8% +23.0% +10.3% −2.4% +11.7% −1.9% −6.0%
EBITDA — — — — +73.7% +35.9% +34.8% −0.3% +24.9% +16.3% +14.3% +65.9% +58.9% +22.3% −7.9% +20.0% −27.4% −40.4%
Operating income — — — — +103.6% +41.0% +35.1% −2.7% +27.5% +17.7% +14.7% +70.6% +62.3% +23.0% −7.9% +20.2% −28.3% −42.1%
Net income — — — — — −66.5% +1.9% +9.4% +27.3% +49.4% +18.5% +88.0% +65.4% +23.6% −5.2% +21.1% −28.5% −41.3%
Diluted EPS — — — — — −68.5% +1.8% +9.5% +22.8% +63.7% +21.1% +83.7% +61.4% +29.8% −6.0% +21.6% −25.2% −38.3%
Margins
Gross margin — — — — — — — — 20.4% 19.7% 19.8% 22.5% 24.3% 25.3% 25.3% 26.6% 23.0% 20.7%
EBITDA margin — −0.7% −2.0% 5.1% 6.5% 7.5% 8.7% 7.2% 7.8% 7.8% 8.1% 11.1% 14.3% 15.8% 15.0% 16.1% 11.9% 8.7%
Operating margin — −1.6% −3.3% 3.8% 5.7% 6.8% 7.9% 6.4% 7.1% 7.1% 7.5% 10.5% 13.8% 15.4% 14.6% 15.7% 11.5% 8.2%
Net margin −10.9% −4.3% −6.0% 1.8% 14.6% 4.2% 3.6% 3.3% 3.7% 4.7% 5.1% 7.9% 10.6% 11.9% 11.5% 12.5% 9.1% 6.6%
Free-cash-flow margin 11.3% −6.3% −6.2% −6.3% −7.4% −11.1% −6.1% 1.2% −3.2% −0.5% 2.4% 5.1% −1.1% 4.2% 13.5% 3.8% 2.9% 3.3%
Cash flow
Cash from operations 68 −37 −34 −47 −74 −133 −82 34 −53 −3 66 168 −17 184 552 180 137 151
Capital spending 4 2 1 1 2 3 4 13 9 8 5 12 25 9 6 8 10 13
Free cash flow 64 −39 −35 −48 −76 −135 −86 21 −62 −11 61 157 −42 175 546 171 128 137
Stock-based pay 3 3 2 2 2 3 4 5 6 6 6 7 9 9 11 15 17 18
Free cash flow after stock pay 61 −42 −37 −50 −79 −139 −90 16 −68 −17 55 150 −51 166 535 157 111 119
Balance sheet
Cash 110 81 60 145 143 22 13 34 152 22 6 261 236 312 733 822 689 621
Total debt 0 0 0 5 5 4 4 3 — 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −110 −81 −60 −140 −138 −18 −9 −31 −152 −22 −6 −261 −236 −312 −733 −822 −689 −621
Diluted shares 17m 19m 19m 20m 29m 30m 30m 30m 31m 29m 28m 29m 30m 28m 29m 29m 27m 26m
Returned to shareholders
Dividends — — 0 0 −4 −5 −5 −5 4 0 0 — — — — — — —
Buybacks — — — — — — — 0 0 26 5 2 52 55 65 177 202 202
Total returned — — 0 0 −4 −5 −5 −5 4 26 5 2 52 55 65 177 202 202

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 0 checks passed · September 30, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From M/i Homes, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$202M
Buybacks, last 3 fiscal years
$444M
Diluted share count
−4.8%
year over year
Total shareholder yield
5.9%
dividends 0.0% + buybacks 5.9% of market value

Competitors: side by side with peers

Closest by revenue in homebuilding
Last 12 months unless stated MHO DFH CCS KBH IBP SKY Median
Revenue, last 12 months $4.2bn $4.1bn $3.8bn $5.2bn $3.0bn $2.7bn $3.8bn
Revenue growth, last 12 months −6.0% −12.2% −8.2% −20.8% 0.3% 4.5% −7.1%
Revenue growth, 3-year average −0.6% 4.7% 1.3% −8.1% 2.4% 4.4% −0.6%
Revenue growth, latest quarter −4.9% −7.6% −11.8% −20.0% 2.3% 1.3% −6.2%
Gross margin 20.7% 19.8% 17.7% 19.1% 33.6% 26.0% 21.1%
Operating margin 8.2% — 7.2% 7.6% 12.4% 8.7% 9.1%
Operating margin, 3-year average 12.4% — 7.9% 6.1% 12.8% 8.9% 12.0%
Net margin 6.6% 3.5% 2.9% 4.4% 8.5% 7.2% 7.2%
Cash from operations / revenue 3.6% −3.3% −1.5% 1.4% 12.1% 11.3% 7.8%
Free-cash-flow margin 3.3% −3.9% −2.3% 0.6% 9.8% 10.0% 7.7%
Free-cash-flow margin, 3-year average 3.9% −2.1% −0.8% 3.3% 9.8% 8.4% 5.8%
Stock pay / revenue 0.4% 0.5% 0.4% 0.6% 0.7% 0.8% 0.5%
Change in share count −4.8% −4.6% −6.4% −11.8% −2.9% −3.3% −4.8%

Median of all 17 companies we cover in homebuilding. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 homebuilding companies
Measure Company Peer median Rank
Revenue growth Growth -6.0% -7.1% 8 of 17
Change in growth rate Growth -1.0pp -0.6pp 10 of 17
Gross margin Profitability 20.7% 22.7% 8 of 11
Operating margin Profitability 8.2% 9.5% 6 of 8
Net margin Profitability 6.6% 7.2% 10 of 17
Free-cash-flow margin Cash generation 3.3% 7.7% 12 of 17
Stock pay as % of revenue Cash generation 0.4% 0.5% 6 of 17
Change in share count Balance sheet -4.8% -4.8% 8 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Construction $4.3B 96.8% ▼ 2.3%
Financial Service $125M 2.8% ▲ 8.0%
Land $17.6M 0.4% ▲ 39.6%
Geography
Region Revenue Share YoY
Southern Homebuilding $2.4B 54.4% ▼ 3.5%
Northern Homebuilding $1.9B 42.8% ▼ 0.5%
Financial Service $125M 2.8% ▲ 8.0%

From M/i Homes, Inc.'s 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4B
Institutions reporting
350
Shares held vs prior quarter
▲ 1.5%
Positions opened / closed
52 / 34

Top buyers and sellers, Q2 2026: 182 institutions bought and 156 sold ; the biggest buyer was Grs Advisors, LLC (+258K shares) and the biggest seller American Century Companies Inc (−132K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $770M 4.8M 19.4% ▲ 0.6%
Donald Smith & Co., Inc. $224M 1.4M 5.6% ▼ 6.6%
State Street Corp $213M 1.3M 5.4% ▲ 5.3%
FMR LLC $198M 1.2M 5.0% ▲ 0.8%
Vanguard Capital Management LLC $178M 1.1M 4.5% ▼ 0.8%
Vanguard Portfolio Management LLC $176M 1.1M 4.4% ▼ 1.6%
Dimensional Fund Advisors LP $171M 1.1M 4.3% ▼ 0.6%
Geode Capital Management, LLC $110M 682K 2.8% ▲ 3.4%
T. Rowe Price Investment Management, Inc. $106M 660K 2.7% ▲ 37.3%
Goldman Sachs Group Inc $95.9M 596K 2.4% ▲ 36.7%
American Century Companies Inc $91.8M 571K 2.3% ▼ 18.8%
Franklin Resources Inc $89.8M 558K 2.3% ▲ 20.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not M/i Homes, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $25.3M 41 trades by 5 insiders · 0% under pre-set plans
Net ▼ $25.3M net selling
Insider Date Trade Shares Price Value
Creek Phillip G Ex. Vice President and CFO October 29, 2026 Sell 16,194 $126.41 $2M
Creek Phillip G Ex. Vice President and CFO October 29, 2026 Sell 2,679 $125.80 $337,021
Creek Phillip G Ex. Vice President and CFO October 29, 2026 Sell 1,127 $125.49 $141,433
Creek Phillip G Ex. Vice President and CFO August 5, 2026 Sell 2,868 $150.53 $431,720
Creek Phillip G Ex. Vice President and CFO August 5, 2026 Sell 544 $152.09 $82,737
Creek Phillip G Ex. Vice President and CFO August 5, 2026 Sell 6,588 $151.54 $998,346
Creek Phillip G Ex. Vice President and CFO August 4, 2026 Sell 10,000 $150.13 $1.5M
Creek Phillip G Ex. Vice President and CFO August 4, 2026 Sell 10,000 $149.00 $1.5M
Creek Phillip G Ex. Vice President and CFO August 3, 2026 Sell 10,000 $148.00 $1.5M
Creek Phillip G Ex. Vice President and CFO July 31, 2026 Sell 10,000 $150.00 $1.5M
Kramer Nancy J Director May 21, 2026 Sell 100 $125.82 $12,582
Kramer Nancy J Director May 21, 2026 Sell 3 $125.72 $377

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 21, 2026
  • July 29, 2026
  • April 22, 2026
  • January 28, 2026
  • October 22, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on M/i Homes, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

M/i Homes, Inc. in brief

What does M/i Homes, Inc. do?
M/i Homes, Inc. is a US-listed company in the homebuilding industry. Its financial year ends in December.
What is M/i Homes, Inc.'s stock ticker?
M/i Homes, Inc. trades under the ticker MHO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is M/i Homes, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, M/i Homes, Inc. reported revenue of $4.2B, 6.0% lower than a year earlier, according to its SEC filings.
What is M/i Homes, Inc.'s free cash flow?
M/i Homes, Inc.'s free-cash-flow margin is 3.3% of revenue over the trailing twelve months, ranking 12 of the 17 homebuilding companies we cover.
What is M/i Homes, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of M/i Homes, Inc.'s free cash flow after stock-based pay gives ~$120 per share in the base case, and ~$93–$150 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are M/i Homes, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Donald Smith & Co., Inc. and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is M/i Homes, Inc. buying back stock, and does it pay a dividend?
M/i Homes, Inc. spent $202M on share repurchases over the trailing twelve months, and its diluted share count fell 4.8% over the year.
What is M/i Homes, Inc.'s market cap?
On November 2, 2026, M/i Homes, Inc.'s market capitalisation was about $3.5B, with a price-to-earnings ratio of 12.6 and net debt of -$621M. Market figures come from third-party market data and may be delayed.
Who are M/i Homes, Inc.'s competitors?
In our Homebuilding peer group, the companies closest to M/i Homes, Inc. are Dream Finders Homes, Inc., Century Communities, Inc., KB Home, Installed Building Products, Inc. and Champion Homes, Inc. The side-by-side comparison below sets their revenue, margins and growth against M/i Homes, Inc.'s.
Are insiders buying or selling M/i Homes, Inc. stock?
Over the last 12 months, M/i Homes, Inc.'s directors and officers reported 0 open-market purchases and 41 sales on Form 4. The insider trading page charts every trade.
When is M/i Homes, Inc.'s next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — M/i Homes, Inc. announces its own schedule.