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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 |
| Operating 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 |
| Selling General And Administration | - | 406.39 | 431.71 | 492.80 | 510.65 |
| Total Expenses | - | 3,493.94 | 3,446.28 | 3,798.58 | 3,863.56 |
| Operating Income | - | 637.45 | 587.22 | 706.09 | 554.22 |
| EBITDA | - | 652.06 | 601.72 | 721.55 | 570.90 |
| Normalized EBITDA | - | 652.06 | 601.72 | 721.55 | 618.56 |
| EBIT | - | 637.45 | 587.22 | 706.09 | 554.22 |
| Interest Expense | 2.16 | 2.25 | - | - | - |
| Net Interest Income | - | -2.25 | 20.02 | 27.51 | 20.04 |
| Other Non Operating Income Expenses | 2.05 | 0.01 | 0.03 | - | - |
| Other Income Expense | -7.03 | 0.01 | 0.03 | - | -47.67 |
| Interest Expense Non Operating | 2.16 | 2.25 | - | - | - |
| Net Non Operating Interest Income Expense | - | -2.25 | 20.02 | 27.51 | 20.04 |
| Pretax Income | - | 635.21 | 607.28 | 733.61 | 526.59 |
| Tax Provision | - | 144.54 | 141.91 | 169.88 | 123.65 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | -11.20 |
| Net Income Continuous Operations | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Net Income From Continuing And Discontinued Operation | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Net Income From Continuing Operation Net Minority Interest | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Net Income | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Net Income Common Stockholders | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Net Income Including Noncontrolling Interests | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Normalized Income | - | 490.66 | 465.36 | 563.72 | 439.41 |
| Diluted NI Availto Com Stockholders | - | 490.66 | 465.36 | 563.72 | 402.94 |
| Basic Average Shares | - | 27.88 | 27.77 | 27.78 | 26.73 |
| Diluted Average Shares | - | 28.46 | 28.72 | 28.60 | 27.34 |
| Reconciled Depreciation | - | 14.61 | 14.49 | 15.45 | 16.67 |
| Reconciled Cost Of Revenue | - | 3,087.55 | 3,014.57 | 3,305.78 | 3,352.91 |
| Total Unusual Items | - | -18.35 | 0 | 0 | -47.67 |
| Total Unusual Items Excluding Goodwill | - | -18.35 | 0 | 0 | -47.67 |
| Special Income Charges | - | -18.35 | 0 | 0 | -47.67 |
| Other Special Charges | 9.07 | - | - | - | - |
| Impairment Of Capital Assets | - | 18.35 | 0 | 0 | 47.67 |
| General And Administrative Expense | - | 214.81 | 222.76 | 258.42 | 262.77 |
| Other Gand A | - | 214.81 | 222.76 | 258.42 | 262.77 |
| Total Other Finance Cost | - | 2.25 | -20.02 | -27.51 | -20.04 |
| Selling And Marketing Expense | - | 191.58 | 208.94 | 234.37 | 247.88 |
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 | 8.85↓ discount | 1.13 | 12.7% | 6.84 |
| Dorman Products, Inc. | DORM | $3.8B | 18.74 | 2.59 | 13.8% | 11.99 |
| Kontoor Brands, Inc. | KTB | $3.8B | 16.68 | 6.72 | 40.3% | 12.35 |
| Group 1 Automotive, Inc. | GPI | $3.6B | 11.17 | 1.30 | 11.7% | 11.07 |
| Versigent PLC | VGNT | $3.6B | 7.23 |
| - |
| - |
| - |
| - |
| 2.16 |
| 29.8% |
| 3.93 |
| Asbury Automotive Group, Inc. | ABG | $3.5B | 7.20 | 0.91 | 12.6% | 9.38 |
| Signet Jewelers Limited | SIG | $3.4B | 11.60 | 1.74 | 15.0% | 5.67 |
| Advance Auto Parts, Inc. | AAP | $3.4B | 76.63 | 1.53 | 2.0% | 17.10 |
| Academy Sports and Outdoors, Inc. | ASO | $3.3B | 8.75 | 1.52 | 17.4% | 7.53 |
| Peer Median | - | 11.39 | 1.64 | 14.4% | 10.23 | |