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M/i Homes, Inc. key statistics and ratios

In fiscal 2025, M/i Homes, Inc. had return on equity of 13.2%, an operating margin of 11.5% and debt equal to 0.0% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin————————20.4%19.7%19.8%22.5%24.3%25.3%25.3%26.6%23.0%20.7%
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 margin11.3%−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%
Return on equity−19.0%−8.3%−11.7%4.4%36.6%9.8%9.1%9.1%10.3%13.4%13.7%21.2%27.5%26.6%20.3%20.7%13.2%8.6%
Return on assets—−4.0%−5.1%1.8%15.6%4.4%4.0%3.8%4.2%5.5%6.2%10.1%13.5%14.1%12.0%13.2%8.6%5.8%
Asset turnover—0.930.851.021.071.051.081.141.151.181.211.281.271.191.041.050.950.87
Debt to equity0.0%0.0%0.0%1.6%1.0%0.8%0.7%0.5%—0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Interest cover (operating income ÷ interest)—n/mn/m1.8x3.7x6.2x6.4x6.2x7.3x8.0x8.8x33.0x——————
R&D as % of revenue—0.4%0.4%0.3%0.3%—————————————
Capital spending as % of revenue0.7%0.3%0.2%0.1%0.2%0.2%0.3%0.8%0.4%0.4%0.2%0.4%0.7%0.2%0.1%0.2%0.2%0.3%
Free cash flow ÷ net income———−359.1%−50.4%−266.7%−166.2%37.3%−86.0%−10.0%47.9%65.3%−10.6%35.6%117.4%30.4%31.7%49.4%
Dividends ÷ net income———0.0%−2.4%−9.6%−9.4%−8.6%5.1%0.0%0.0%———————
Dividends and buybacks ÷ free cash flow———————−23.1%——8.4%1.2%—31.7%12.0%103.3%158.2%147.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

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Figures from M/i Homes, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to M/i Homes, Inc.