SequelSEC

M/I HOMES, INC. MHO

Operative Builders · CIK 0000799292 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$1.08B
Fiscal year ended 2026-09-30
Operating income
$83.30M
Fiscal year ended 2026-09-30
Free cash flow
-$16.95M
Fiscal year ended 2026-09-30

Valuation, from the filing

Public float$2.90BMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$112.54Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income7.2×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue0.7×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity0.9×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

Valuation over time

7.2× earnings today, against a median of 5.9× across 10 years on record. Above its own history.

Float measuredPublic floatFloat / net income
2025-06-30$2.90B7.2×
2024-06-30$3.30B5.9×
2023-06-30$2.40B5.2×
2022-06-30$1.10B2.2×
2021-06-30$1.70B4.3×
2020-06-30$961.90M4.0×
2019-06-30$770.60M6.0×
2018-06-30$739.04M6.9×
2017-06-30$699.11M9.7×
2016-06-30$452.97M8.0×

Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.

How this compares in its industry

Percentile among the Operative Builders filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
CapEx / revenue0.2%8th
FCF margin2.9%33th
Operating margin11.5%67th
Gross margin23.0%62th
Net margin9.1%57th
Revenue YoY growth-1.9%43th
SBC / revenue0.4%57th

M/I HOMES, INC. (MHO) reported revenue of $1.08B and net income of $66.55M for the fiscal year ended 2026-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from M/I HOMES, INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Operative Builders.

Income

M/I HOMES, INC. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-302026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Revenue$1.08B$1.06B$920.71M$1.15B$1.13B$1.16B$976.09M$1.21B$1.14B$1.11B
Cost of revenue$851.59M$827.76M$718.12M$939.59M$861.70M$875.97M$723.31M$908.45M$833.47M$800.50M
Gross profit$224.48M$235.50M$202.59M$207.71M$270.09M$286.62M$252.78M$296.82M$309.44M$309.28M
Operating income$83.30M$101.28M$86.06M$74.64M$135.27M$155.72M$140.92M$163.99M$181.99M$186.79M
Net income$66.55M$79.07M$67.83M$63.97M$106.49M$121.24M$111.24M$133.47M$145.45M$146.75M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 25.95Mshares 26.19Mshares 26.56MUnavailableshares 27.19Mshares 27.41Mshares 27.94MUnavailableshares 28.53Mshares 28.67M
Pretax incomeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Income tax expense$20.32M$25.50M$21.34M$16.58M$33.33M$38.85M$34.88M$37.09M$43.22M$47.39M
Diluted EPS$2.56$3.02$2.55Unavailable$3.92$4.42$3.98Unavailable$5.10$5.12
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrative$76.57M$70.20M$61.19M$65.68M$70.77M$67.25M$59.07M$70.06M$68.28M$63.99M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

M/I HOMES, INC. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-302026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Cash & equivalentsUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total assets$4.86B$4.86B$4.79B$4.78B$4.77B$4.74B$4.59B$4.55B$4.46B$4.34B
Current assetsUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total liabilities$1.61B$1.63B$1.60B$1.61B$1.62B$1.66B$1.58B$1.61B$1.61B$1.60B
Current liabilitiesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total equity incl. NCI$3.25B$3.23B$3.19B$3.17B$3.15B$3.08B$3.01B$2.94B$2.85B$2.74B
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
InventoryUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Goodwill$16.40M$16.40M$16.40M$16.40M$16.40M$16.40M$16.40M$16.40M$16.40M$16.40M
Long-term debtUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

M/I HOMES, INC. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-302026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Operating cash flow-$13.32M$36.81M$135.73M-$8.71M$43.41M$37.76M$64.89M$104.40M-$67.94M$27.51M
Capital expenditures$3.63M$5.37M$154.00K$4.26M$1.40M$2.61M$1.34M$2.07M$580.00K$5.49M
Investing cash flow-$34.01M-$11.87M$5.12M-$29.04M-$15.45M-$12.32M-$2.93M-$9.86M-$17.50M-$10.43M
Financing cash flow-$68.01M-$56.41M-$62.62M-$7.24M-$94.19M-$1.42M-$107.15M$7.11M-$32.10M-$49.78M
Net change in cash-$115.35M-$31.48M$78.23M-$44.98M-$66.22M$24.02M-$45.19M$101.65M-$117.54M-$32.70M
Stock-based compensation$4.63M$4.56M$4.18M$4.36M$4.52M$3.92M$4.20M$3.70M$3.51M$3.81M
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchases$50.09M$50.05M$50.07M$51.66M$50.18M$50.14M$50.06M$51.13M$50.23M$50.31M
Depreciation & amortizationUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Derived

M/I HOMES, INC. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-302026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Free cash flow-$16.95M$31.43M$135.58M-$12.96M$42.01M$35.15M$63.55M$102.33M-$68.52M$22.02M
Gross margin20.9%22.1%22.0%18.1%23.9%24.7%25.9%24.6%27.1%27.9%
Operating margin7.7%9.5%9.3%6.5%12.0%13.4%14.4%13.6%15.9%16.8%
FCF margin-1.6%3.0%14.7%-1.1%3.7%3.0%6.5%8.5%-6.0%2.0%
SBC / revenue0.4%0.4%0.5%0.4%0.4%0.3%0.4%0.3%0.3%0.3%
Current ratioUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Revenue YoY growth-4.9%-8.5%-5.7%-4.8%-1.0%4.8%-6.7%23.9%9.2%9.4%
Net margin6.2%7.4%7.4%5.6%9.4%10.4%11.4%11.1%12.7%13.2%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue0.3%0.5%0.0%0.4%0.1%0.2%0.1%0.2%0.1%0.5%
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MHO in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-10-23View SEC filing
10-Q · Filed 2026-07-31View SEC filing
10-Q · Filed 2026-04-24View SEC filing
10-K · Filed 2026-02-13View SEC filing
10-Q · Filed 2025-10-24View SEC filing
10-Q · Filed 2025-07-25View SEC filing

Companies in the same industry

Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.