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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, 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, it 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. The company was formerly known as M/I Schottenstein Homes, Inc. and changed its name to M/I Homes, Inc. in January 2004. M/I Homes, Inc. was founded in 1976 and is based in Columbus, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.4B | $571M | $403M | $128M | 12.7% | -1.9% | -28.5% |
| 2024 | $4.5B | $722M | $564M | $171M | 19.2% | 11.7% | 21.1% |
| 2023 | $4.0B | $602M | $465M | $546M | 18.5% | -2.4% | -5.2% |
| 2022 | $4.1B | $652M | $491M | $175M | 23.7% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,131.39 | 4,033.50 | 4,504.67 | 4,417.78 |
| Cost Of Revenue | - | 3,087.55 | 3,014.57 | 3,305.78 | 3,352.91 |
| Gross Profit | - | 1,043.84 | 1,018.93 | 1,198.89 | 1,064.87 |
| Operating Expense | - | 406.39 | 431.71 | 492.80 | 510.65 |
| Operating Income | - | 637.45 | 587.22 | 706.09 | 554.22 |
| EBITDA | - | 652.06 | 601.72 | 721.55 | 570.90 |
| EBIT | - | 637.45 | 587.22 | 706.09 | 554.22 |
| Pretax Income | - | 635.21 | 607.28 | 733.61 | 526.59 |
| Tax Provision | - | 144.54 | 141.91 | 169.88 | 123.65 |
| Net Income | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Net Income Common Stockholders | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Total Expenses | - | 3,493.94 | 3,446.28 | 3,798.58 | 3,863.56 |
| Interest Expense | 2.16 | 2.25 | - | - | - |
| Selling General And Administration | - | 406.39 | 431.71 | 492.80 | 510.65 |
| Normalized EBITDA | - | 652.06 | 601.72 | 721.55 | 618.56 |
| Normalized Income | - | 490.66 | 465.36 | 563.72 | 439.41 |
| Market Cap | 3,443.60 | 3,443.60 | 3,443.60 | 3,443.60 | 3,443.60 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| M/I Homes, Inc.this co. | MHO | $3.6B | 8.55↓ discount | 1.09 | 12.7% | 6.63 |
| Kontoor Brands, Inc. | KTB | $4.0B | 17.77 | 7.16 | 40.3% | 12.97 |
| Asbury Automotive Group, Inc. | ABG | $4.0B | 7.96 | 1.01 | 12.6% | 9.75 |
| Academy Sports and Outdoors, Inc. | ASO | $3.8B | 9.79 | 1.70 | 17.4% | 8.14 |
| Signet Jewelers Limited | SIG | $3.7B |
| - |
| - |
| - |
| - |
| 12.25 |
| 1.83 |
| 15.0% |
| 5.96 |
| Advance Auto Parts, Inc. | AAP | $3.5B | 79.77 | 1.60 | 2.0% | 17.53 |
| Dorman Products, Inc. | DORM | $3.4B | 16.38 | 2.26 | 13.8% | 10.65 |
| Red Rock Resorts, Inc. | RRR | $3.2B | 16.81 | 15.18 | 90.3% | 8.06 |
| Patrick Industries, Inc. | PATK | $3.2B | 23.89 | 2.72 | 11.4% | 11.13 |
| Peer Median | - | 16.60 | 2.05 | 14.4% | 10.20 | |