MTHNYSEOperative BuildersFiscal year ends December 31
Meritage Homes CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$58.38−0.79 (-1.34%)
Close on Oct 19, 2026
- Market cap
- $3.86B
- P/E (TTM)
- 12.2
- Dividend yield
- 0.74%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
–
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Net income | -42.4% | -23.0% | +1.4% | +13.4% | |
| EPS, diluted | -40.8% | -22.0% | +2.9% | +15.2% | |
| Free cash flow | – | -37.5% | -28.9% | – | |
| Dividend per share | +14.7% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.2% | 19.6% | 8.8% | |
| Return on assets | 5.4% | 11.7% | 6.1% | |
| Capex to revenue | 0.6% | – | – | |
| Diluted shares | 85M | 77M | 71M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Meritage Homes generated $1.26B from operations and spent $1.06B on capital expenditure, dividends and share buybacks. 14% of that went back into the business.
Generated
$1.26B
Used
$1.06B
Capital expenditure$145.21M14%Dividends$269.20M25%Share buybacks$650.29M61%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.4%
×Asset turnover1.05×
×Equity multiplier2.05×
=Return on equity, FY20179.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2017 | 4.4% | 1.05× | 2.05× | 9.6% |
| FY2016 | 4.9% | 1.09× | 2.08× | 11.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$453.01M
- Cash generatingOperating cash flow above zero$118.29M
- Return on assets improvedROA up on the prior year12.4% → 6.3%
- Earnings backed by cashOperating cash flow above net income$118.29M vs $453.01M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise73M → 71M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose– → –