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M/I Homes, Inc.

M/I Homes, Inc.

NYSE•MHO
CEO: Mr. Robert H. Schottenstein J.D.
Sector: Consumer Cyclical
Industry: Residential Construction
Listing Date: 1993-11-03
M/I Homes, Inc., together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments. It also designs, constructs, markets, and sells single-family homes and attached townhomes to first-time, millennial, move-up, empty-nester, multi-generational, and luxury homebuyers under the M/I Homes brand name. In addition, the company purchases undeveloped land to develop into developed lots for the construction of single-family homes, as well as for sale to others. Further, the company originates and sells mortgages; and serves as a title insurance agent by providing title insurance policies, examination, and closing services to purchasers of its homes. M/I Homes, Inc. was founded in 1976 and is based in Columbus, Ohio.
Contact Information
4131 Worth Avenue, Suite 500, Columbus, OH, 43219-6011, United States
614-418-8000
www.mihomes.com
Market Cap
$3.53B
P/E (TTM)
7.7
13
Dividend Yield
--
52W High
$158.92
52W Low
$100.22
52W Range
59%
Rank35Top 21.9%
5.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.13B-0.97%
4-Quarter Trend

EPS

$4.01-23.76%
4-Quarter Trend

FCF

$42.01M-161.31%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Record High Shareholders' Equity Equity reached $3.15B as of September 30, 2025, marking an 11% increase year-over-year, supported by strong capital base.
Financial Services Revenue Growth Financial services revenue grew 11% YTD to $97.6M, driven by higher margins and increased loan originations across markets.
Q3 Home Deliveries Record Achieved third quarter record for homes delivered, despite subdued buyer urgency and macroeconomic headwinds impacting profitability.
Credit Facility Amended Credit Facility increased commitments to $900M, extending maturity to September 2030, ensuring ample liquidity for operations.

Risk Factors

Profitability Declines Sharply Nine-month Net Income fell 21% to $339.0M; diluted EPS dropped to $12.32 from $14.99 year prior due to market softness.
Gross Margin Percentage Compression Homebuilding gross margin percentage fell 360 basis points to 21.5% QTD, driven by increased incentives and higher lot costs.
Inventory Levels Increased Total inventory rose to $3.41B by September 30, 2025, reflecting increased land acquisition and development spending year-over-year.
Homebuyer Cancellation Rates Total cancellation rate reached 12.2% for the quarter, up from 9.7% last year, signaling weakened market demand and buyer urgency.

Outlook

Strategic Incentive Focus Will emphasize interest rate buydowns and incentives where necessary to promote sales and stimulate demand through year-end 2025.
Community Count Expansion Expect to grow average community count by approximately 5% in 2025 compared to 2024, opening 64 new communities YTD.
Land Spend Management Will closely review land acquisition and development spending, managing land spend and inventory levels based on ongoing sales pace.
Navigating Uncertainty Remain positioned to navigate uncertainty with strong balance sheet; success requires agility as housing market conditions evolve.

Peer Comparison

Revenue (TTM)

KB HomeKBH
$6.54B
-0.9%
Meritage Homes CorporationMTH
$6.04B
-6.1%
Academy Sports and Outdoors, Inc.ASO
$6.01B
-0.7%

Gross Margin (Latest Quarter)

Abercrombie & Fitch Co.ANF
59.5%
-5.6pp
Academy Sports and Outdoors, Inc.ASO
35.7%
+1.7pp
Green Brick Partners, Inc.GRBK
31.1%
-1.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ANF$5.59B10.740.7%32.5%
MTH$5.09B9.310.4%23.2%
SKY$4.88B22.014.3%1.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-2.1%
Flat Growth
4Q Net Income CAGR
-7.3%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:$3.88
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 24, 2025|
    Revenue: $1.13B-1.0%
    |
    EPS: $4.01-23.8%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 25, 2025|
    Revenue: $1.16B+4.8%
    |
    EPS: $4.52-14.1%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 25, 2025|
    Revenue: $976.09M-6.5%
    |
    EPS: $4.07-17.3%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 14, 2025|
    Revenue: $4.50B+11.7%
    |
    EPS: $20.29+21.1%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 1, 2024|
    Revenue: $1.14B+9.2%
    |
    EPS: $5.26+5.6%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $1.11B+9.4%
    |
    EPS: $5.26+23.8%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 26, 2024|
    Revenue: $1.04B+4.4%
    |
    EPS: $4.92+31.9%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 16, 2024|
    Revenue: $4.03B-2.4%
    |
    EPS: $16.76-4.8%
    Beat