MHONYSEOperative BuildersFiscal year ends December 31
M/I HOMES, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$122.02−2.46 (-1.98%)
Close on Oct 19, 2026
- Market cap
- $3.20B
- P/E (TTM)
- 10.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
23.0%+0.5 pts over 5 years
Operating margin
11.5%+1.0 pts over 5 years
Net margin
9.1%+1.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.9% | +2.3% | +7.7% | +12.0% | |
| Gross profit | -15.2% | -0.9% | +8.2% | – | |
| Operating income | -28.3% | -7.4% | +9.7% | +16.3% | |
| Net income | -28.5% | -6.4% | +10.9% | +22.8% | |
| EPS, diluted | -25.2% | -5.1% | +12.4% | +24.3% | |
| Free cash flow | -25.4% | -9.9% | -4.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.1% | 21.2% | 13.2% | |
| Return on assets | 3.8% | 10.1% | 8.6% | |
| Interest coverage | 6.2× | 33.0× | – | |
| Capex to revenue | 0.8% | 0.4% | 0.2% | |
| Diluted shares | 30M | 29M | 27M |
Where the cash went
Fiscal 2021 to 2025, five years combined
M/I Homes generated $1.07B from operations and spent $609.61M on capital expenditure, dividends and share buybacks. 10% of that went back into the business.
Generated
$1.07B
Used
$609.61M
Capital expenditure$58.43M10%Dividends$00%Share buybacks$551.18M90%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.1%
×Asset turnover0.95×
×Equity multiplier1.53×
=Return on equity, FY202513.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.1% | 0.95× | 1.53× | 13.2% |
| FY2024 | 12.5% | 1.05× | 1.57× | 20.7% |
| FY2023 | 11.5% | 1.04× | 1.69× | 20.3% |
| FY2022 | 11.9% | 1.19× | 1.88× | 26.6% |
| FY2021 | 10.6% | 1.27× | 2.04× | 27.5% |
| FY2020 | 7.9% | 1.28× | 2.10× | 21.2% |
| FY2019 | 5.1% | 1.21× | 2.22× | 13.7% |
| FY2018 | 4.7% | 1.18× | 2.43× | 13.4% |
| FY2017 | 3.7% | 1.15× | 2.44× | 10.3% |
| FY2016 | 3.3% | 1.14× | 2.37× | 9.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$402.94M
- Cash generatingOperating cash flow above zero$137.35M
- Return on assets improvedROA up on the prior year14.0% → 8.9%
- Earnings backed by cashOperating cash flow above net income$137.35M vs $402.94M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise29M → 27M
- Gross margin improvedGross margin up on the prior year26.61% → 23.03%
- More efficientAsset turnover rose1.12 → 0.97