What is M/I HOMES INC's earnings per share (EPS)?

M/I HOMES INC (MHO) reported diluted earnings per share of $14.74 for fiscal year 2025. This represents a -25.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

M/I HOMES INC Financials

MHO

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows M/I HOMES INC (MHO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MHO FY2025 2026-04-24

Cash generation is far lumpier than earnings, while a strengthened balance sheet lets the business keep repurchasing stock.

Across FY2023-FY2025, the company produced about $1.4B of net income but only about $869M of operating cash flow, showing that reported profitability and actual cash release do not move together. In FY2025, buybacks of $202M ran ahead of free cash flow of $128M; with liabilities roughly flat over the past two years, capital returns were supported by an already stronger balance sheet rather than by that year’s cash generation alone.

FY2025 was not mainly a volume story: revenue slipped only 1.9% from FY2024, yet gross margin compressed sharply. That made earnings much more sensitive than sales, with net margin falling from 12.5% to 9.1%.

Over the last three fiscal years, equity-funded growth became more visible: assets increased by about $756M while liabilities added only about $106M. The result was a lower debt-to-equity ratio, improving from 0.8x in FY2022 to 0.5x in FY2025, which suggests retained earnings have been doing more of the financing work.

Financial Health Signals

Financial Health Score 40/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of M/I HOMES INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

M/I HOMES INC has an operating margin of 11.5%, meaning the company retains $11 of operating profit per $100 of revenue. This strong profitability earns a score of 81/100, reflecting efficient cost management and pricing power. This is down from 15.7% the prior year.

Growth

M/I HOMES INC's revenue declined 1.9% year-over-year, from $4.5B to $4.4B. This contraction results in a growth score of 49/100.

Leverage

M/I HOMES INC has a moderate D/E ratio of 0.51. This balance of debt and equity financing earns a leverage score of 60/100.

Cash Flow

M/I HOMES INC has a free cash flow margin of 2.9%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Partial

3/7

M/I HOMES INC passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.34x

For every $1 of reported earnings, M/I HOMES INC generates $0.34 in operating cash flow ($137.3M OCF vs $402.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.4B

YoY-1.9%

5Y CAGR+7.7%

10Y CAGR+12.0%

M/I HOMES INC generated $4.4B in revenue in fiscal year 2025. This represents a decrease of 1.9% from the prior year.

EBITDA

$525.5M

YoY-27.4%

5Y CAGR+9.3%

10Y CAGR+15.7%

M/I HOMES INC's EBITDA was $525.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 27.4% from the prior year.

Net Income

$402.9M

YoY-28.5%

5Y CAGR+10.9%

10Y CAGR+22.8%

M/I HOMES INC reported $402.9M in net income in fiscal year 2025. This represents a decrease of 28.5% from the prior year.

EPS (Diluted)

$14.74

YoY-25.2%

5Y CAGR+12.4%

10Y CAGR+24.3%

M/I HOMES INC earned $14.74 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 25.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$127.7M

YoY-25.4%

5Y CAGR-4.0%

M/I HOMES INC generated $127.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 25.4% from the prior year.

Cash & Debt

$689.2M

YoY-16.1%

5Y CAGR+21.5%

10Y CAGR+48.6%

M/I HOMES INC held $689.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

26M

YoY-5.0%

M/I HOMES INC had 26M shares outstanding in fiscal year 2025. This represents a decrease of 5.0% from the prior year.

Margins & Returns

Gross Margin

23.0%

YoY-3.6pp

5Y CAGR+0.6pp

M/I HOMES INC's gross margin was 23.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.6 percentage points from the prior year.

Operating Margin

11.5%

YoY-4.2pp

5Y CAGR+1.0pp

10Y CAGR+3.6pp

M/I HOMES INC's operating margin was 11.5% in fiscal year 2025, reflecting core business profitability. This is down 4.2 percentage points from the prior year.

Net Margin

9.1%

YoY-3.4pp

5Y CAGR+1.2pp

10Y CAGR+5.5pp

M/I HOMES INC's net profit margin was 9.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.4 percentage points from the prior year.

Return on Equity

12.7%

YoY-6.5pp

5Y CAGR-6.3pp

10Y CAGR+4.0pp

M/I HOMES INC's ROE was 12.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$202.0M

YoY+14.2%

5Y CAGR+154.0%

M/I HOMES INC spent $202.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 14.2% from the prior year.

Capital Expenditures

$9.6M

YoY+14.2%

5Y CAGR-3.8%

10Y CAGR+10.1%

M/I HOMES INC invested $9.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 14.2% from the prior year.

MHO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$4.4B-1.9%	$4.5B+11.7%	$4.0B-2.4%	$4.1B+10.3%	$3.7B+23.0%	$3.0B
Cost of Revenue	$3.4B+2.9%	$3.3B+9.7%	$3.0B-2.4%	$3.1B+8.8%	$2.8B+20.1%	$2.4B
Gross Profit	$1.0B-15.2%	$1.2B+17.7%	$1.0B-2.4%	$1.0B+14.8%	$908.9M+32.7%	$684.8M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$262.8M+1.7%	$258.4M+16.0%	$222.8M+3.7%	$214.8M+11.9%	$192.0M+8.1%	$177.5M
Operating Income	$506.6M-28.3%	$706.1M+20.2%	$587.2M-7.9%	$637.5M+23.0%	$518.3M+62.3%	$319.3M
Interest Expense	N/A	N/A	-$20.0M-989.9%	$2.3M+4.4%	$2.2M-77.7%	$9.7M
Income Tax	$123.6M-27.2%	$169.9M+19.7%	$141.9M-1.8%	$144.5M+28.8%	$112.2M+60.0%	$70.2M
Net Income	$402.9M-28.5%	$563.7M+21.1%	$465.4M-5.2%	$490.7M+23.6%	$396.9M+65.5%	$239.9M
EPS (Diluted)	$14.74-25.2%	$19.71+21.6%	$16.21-6.0%	$17.24+29.8%	$13.28+61.4%	$8.23

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$920.7M-19.8%	$1.1B+1.4%	$1.1B-2.6%	$1.2B+19.1%	$976.1M-19.0%	$1.2B+5.5%	$1.1B+3.0%	$1.1B
Cost of Revenue	$718.1M-24.2%	$947.2M+10.9%	$854.1M-2.5%	$876.0M+21.1%	$723.3M-20.4%	$908.5M+9.0%	$833.5M+4.1%	$800.5M
Gross Profit	$202.6M+1.2%	$200.1M-27.9%	$277.7M-3.1%	$286.6M+13.4%	$252.8M-14.8%	$296.8M-4.1%	$309.4M+0.1%	$309.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$61.2M-6.8%	$65.7M-7.2%	$70.8M+5.2%	$67.2M+13.8%	$59.1M-15.7%	$70.1M+2.6%	$68.3M+6.7%	$64.0M
Operating Income	$86.1M+15.3%	$74.6M-44.8%	$135.3M-13.1%	$155.7M+10.5%	$140.9M-14.1%	$164.0M-9.9%	$182.0M-2.6%	$186.8M
Interest Expense	$2.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$21.3M+28.7%	$16.6M-50.2%	$33.3M-14.2%	$38.9M+11.4%	$34.9M-5.9%	$37.1M-14.2%	$43.2M-8.8%	$47.4M
Net Income	$67.8M+6.1%	$63.9M-40.0%	$106.5M-12.2%	$121.2M+9.0%	$111.2M-16.6%	$133.4M-8.3%	$145.4M-0.9%	$146.7M
EPS (Diluted)	$2.55	N/A	$3.92-11.3%	$4.42+11.1%	$3.98	N/A	$5.10-0.4%	$5.12

MHO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.8B+5.0%	$4.5B+13.1%	$4.0B+8.3%	$3.7B+14.7%	$3.2B+22.6%	$2.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$689.2M-16.1%	$821.6M+12.1%	$732.8M+135.2%	$311.5M+31.8%	$236.4M-9.4%	$260.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M
Total Liabilities	$1.6B+0.1%	$1.6B+6.9%	$1.5B-8.4%	$1.6B+1.8%	$1.6B+16.7%	$1.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.2B+7.7%	$2.9B+16.8%	$2.5B+21.5%	$2.1B+27.5%	$1.6B+29.0%	$1.3B
Retained Earnings	$3.3B+14.1%	$2.9B+24.5%	$2.3B+25.3%	$1.8B+36.5%	$1.3B+41.8%	$948.5M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$4.8B+0.2%	$4.8B+0.2%	$4.8B+0.6%	$4.7B+3.4%	$4.6B+0.8%	$4.5B+2.0%	$4.5B+2.8%	$4.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$767.4M+11.4%	$689.2M-6.1%	$734.2M-8.3%	$800.4M+3.1%	$776.4M-5.5%	$821.6M+14.1%	$719.9M-14.0%	$837.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M0.0%	$16.4M
Total Liabilities	$1.6B-0.9%	$1.6B-0.6%	$1.6B-2.3%	$1.7B+5.0%	$1.6B-1.9%	$1.6B-0.3%	$1.6B+1.0%	$1.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.2B+0.8%	$3.2B+0.5%	$3.1B+2.2%	$3.1B+2.5%	$3.0B+2.3%	$2.9B+3.3%	$2.8B+3.8%	$2.7B
Retained Earnings	$3.3B+2.1%	$3.3B+2.0%	$3.2B+3.4%	$3.1B+4.1%	$3.0B+3.9%	$2.9B+4.9%	$2.7B+5.6%	$2.6B

MHO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$137.3M-23.6%	$179.7M-67.4%	$552.1M+200.0%	$184.1M+1194.2%	-$16.8M-110.0%	$168.3M
Capital Expenditures	$9.6M+14.2%	$8.4M+45.9%	$5.8M-38.2%	$9.3M-63.1%	$25.3M+116.7%	$11.7M
Free Cash Flow	$127.7M-25.4%	$171.3M-68.6%	$546.4M+212.7%	$174.7M+514.8%	-$42.1M-126.9%	$156.7M
Investing Cash Flow	-$59.7M-8.8%	-$54.9M-194.6%	-$18.6M+32.0%	-$27.4M+47.1%	-$51.7M-52.7%	-$33.9M
Financing Cash Flow	-$210.0M-482.1%	-$36.1M+67.9%	-$112.2M-37.7%	-$81.5M-284.8%	$44.1M-63.3%	$120.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$202.0M+14.2%	$177.0M+170.8%	$65.3M+18.1%	$55.3M+7.4%	$51.5M+2594.6%	$1.9M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$135.7M+1658.9%	-$8.7M-120.1%	$43.4M+15.0%	$37.8M-41.8%	$64.9M-37.8%	$104.4M+253.7%	-$67.9M-347.0%	$27.5M
Capital Expenditures	$154K-96.4%	$4.3M+203.2%	$1.4M-46.2%	$2.6M+94.8%	$1.3M-35.2%	$2.1M+256.4%	$580K-89.4%	$5.5M
Free Cash Flow	$135.6M+1145.8%	-$13.0M-130.9%	$42.0M+19.5%	$35.1M-44.7%	$63.5M-37.9%	$102.3M+249.3%	-$68.5M-411.2%	$22.0M
Investing Cash Flow	$5.1M+117.6%	-$29.0M-87.9%	-$15.5M-25.4%	-$12.3M-320.7%	-$2.9M+70.3%	-$9.9M+43.6%	-$17.5M-67.7%	-$10.4M
Financing Cash Flow	-$62.6M-765.4%	-$7.2M+92.3%	-$94.2M-6546.9%	-$1.4M+98.7%	-$107.2M-1606.2%	$7.1M+122.2%	-$32.1M+35.5%	-$49.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$50.1M-3.1%	$51.7M+2.9%	$50.2M+0.1%	$50.1M+0.2%	$50.1M-2.1%	$51.1M+1.8%	$50.2M-0.1%	$50.3M

MHO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	23.0%-3.6pp	26.6%+1.4pp	25.3%0.0pp	25.3%+1.0pp	24.3%+1.8pp	22.5%
Operating Margin	11.5%-4.2pp	15.7%+1.1pp	14.6%-0.9pp	15.4%+1.6pp	13.8%+3.4pp	10.5%
Net Margin	9.1%-3.4pp	12.5%+1.0pp	11.5%-0.3pp	11.9%+1.3pp	10.6%+2.7pp	7.9%
Return on Equity	12.7%-6.5pp	19.2%+0.7pp	18.5%-5.2pp	23.7%-0.7pp	24.4%+5.4pp	19.1%
Return on Assets	8.4%-4.0pp	12.4%+0.8pp	11.6%-1.6pp	13.2%+1.0pp	12.3%+3.2pp	9.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.51-0.0	0.55-0.1	0.60-0.2	0.79-0.2	0.99-0.1	1.10
FCF Margin	2.9%-0.9pp	3.8%-9.8pp	13.6%+9.3pp	4.2%+5.3pp	-1.1%-6.3pp	5.1%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	22.0%+4.6pp	17.4%-7.1pp	24.5%-0.1pp	24.6%-1.3pp	25.9%+1.3pp	24.6%-2.4pp	27.1%-0.8pp	27.9%
Operating Margin	9.3%+2.8pp	6.5%-5.4pp	11.9%-1.4pp	13.4%-1.1pp	14.4%+0.8pp	13.6%-2.3pp	15.9%-0.9pp	16.8%
Net Margin	7.4%+1.8pp	5.6%-3.8pp	9.4%-1.0pp	10.4%-1.0pp	11.4%+0.3pp	11.1%-1.7pp	12.7%-0.5pp	13.2%
Return on Equity	2.1%+0.1pp	2.0%-1.4pp	3.4%-0.6pp	3.9%+0.2pp	3.7%-0.8pp	4.5%-0.6pp	5.1%-0.2pp	5.3%
Return on Assets	1.4%+0.1pp	1.3%-0.9pp	2.2%-0.3pp	2.6%+0.1pp	2.4%-0.5pp	2.9%-0.3pp	3.3%-0.1pp	3.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.500.0	0.510.0	0.51-0.0	0.54+0.0	0.53-0.0	0.55-0.0	0.57-0.0	0.58
FCF Margin	14.7%+15.9pp	-1.1%-4.8pp	3.7%+0.7pp	3.0%-3.5pp	6.5%-2.0pp	8.5%+14.5pp	-6.0%-8.0pp	2.0%

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Frequently Asked Questions

What is M/I HOMES INC's annual revenue?

M/I HOMES INC (MHO) reported $4.4B in total revenue for fiscal year 2025. This represents a -1.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is M/I HOMES INC's revenue growing?

M/I HOMES INC (MHO) revenue declined by 1.9% year-over-year, from $4.5B to $4.4B in fiscal year 2025.

Is M/I HOMES INC profitable?

Yes, M/I HOMES INC (MHO) reported a net income of $402.9M in fiscal year 2025, with a net profit margin of 9.1%.

What is M/I HOMES INC's EBITDA?

M/I HOMES INC (MHO) had EBITDA of $525.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is M/I HOMES INC's gross margin?

M/I HOMES INC (MHO) had a gross margin of 23.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is M/I HOMES INC's operating margin?

M/I HOMES INC (MHO) had an operating margin of 11.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is M/I HOMES INC's net profit margin?

M/I HOMES INC (MHO) had a net profit margin of 9.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is M/I HOMES INC's return on equity (ROE)?

M/I HOMES INC (MHO) has a return on equity of 12.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is M/I HOMES INC's free cash flow?

M/I HOMES INC (MHO) generated $127.7M in free cash flow during fiscal year 2025. This represents a -25.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is M/I HOMES INC's operating cash flow?

M/I HOMES INC (MHO) generated $137.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are M/I HOMES INC's total assets?

M/I HOMES INC (MHO) had $4.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are M/I HOMES INC's capital expenditures?

M/I HOMES INC (MHO) invested $9.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does M/I HOMES INC buy back shares?

Yes, M/I HOMES INC (MHO) spent $202.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does M/I HOMES INC have outstanding?

M/I HOMES INC (MHO) had 26M shares outstanding as of fiscal year 2025.

What is M/I HOMES INC's debt-to-equity ratio?

M/I HOMES INC (MHO) had a debt-to-equity ratio of 0.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is M/I HOMES INC's return on assets (ROA)?

M/I HOMES INC (MHO) had a return on assets of 8.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is M/I HOMES INC's Piotroski F-Score?

M/I HOMES INC (MHO) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are M/I HOMES INC's earnings high quality?

M/I HOMES INC (MHO) has an earnings quality ratio of 0.34x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is M/I HOMES INC?

M/I HOMES INC (MHO) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.