M/I Homes (MHO)
Market Price (11/10/2026): $135.7 | Market Cap: $3.4 BilSector: Consumer Discretionary | Industry: Homebuilding
M/I Homes (MHO)
Market Price (11/10/2026): $135.7Market Cap: $3.4 BilSector: Consumer DiscretionaryIndustry: Homebuilding
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.0% Low stock price volatilityVol 12M is 35% Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, Smart Buildings & Proptech, and Electrification of Everything. Themes include Green Building Certification, Show more. | Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -23% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5%, Rev Chg QQuarterly Revenue Change % is -4.9% Key risksMHO key risks include [1] a significant exposure to rate-sensitive entry-level homebuyers and [2] increased construction costs from potential tariffs on building products sourced from Canada, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.0% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, Smart Buildings & Proptech, and Electrification of Everything. Themes include Green Building Certification, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -23% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5%, Rev Chg QQuarterly Revenue Change % is -4.9% |
| Key risksMHO key risks include [1] a significant exposure to rate-sensitive entry-level homebuyers and [2] increased construction costs from potential tariffs on building products sourced from Canada, Show more. |
Qualitative Assessment
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M/I Homes (MHO) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q3 2026 Earnings.
M/I Homes reported a significant drop in profitability for the fiscal quarter ended September 30, 2026, with diluted earnings per share (EPS) decreasing 35% year-over-year to $2.56, and adjusted EPS of $2.70 missing consensus estimates of $3.05 to $3.25. Pre-tax income also declined 38% to $87 million compared to $139.8 million in the same quarter last year.
2. Revenue Decline and Weakening Demand.
The company experienced a 5% year-over-year decrease in total revenue to $1.076 billion in fiscal Q3 2026, driven by a 2% reduction in homes delivered (2,241 homes) and a lower average closing price. New contracts also declined by 2% to 1,861, indicating a softening demand environment, particularly in August and September.
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M/I Homes (MHO) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q3 2026 Earnings.
M/I Homes reported a significant drop in profitability for the fiscal quarter ended September 30, 2026, with diluted earnings per share (EPS) decreasing 35% year-over-year to $2.56, and adjusted EPS of $2.70 missing consensus estimates of $3.05 to $3.25. Pre-tax income also declined 38% to $87 million compared to $139.8 million in the same quarter last year.
2. Revenue Decline and Weakening Demand.
The company experienced a 5% year-over-year decrease in total revenue to $1.076 billion in fiscal Q3 2026, driven by a 2% reduction in homes delivered (2,241 homes) and a lower average closing price. New contracts also declined by 2% to 1,861, indicating a softening demand environment, particularly in August and September.
3. Gross Margin Contraction Due to Higher Incentives.
Gross margin narrowed to 20.9% (or 21.3% excluding inventory charges) in fiscal Q3 2026, down from 24.5% in the prior year. This compression was primarily attributed to increased costs associated with mortgage rate buydowns and higher lot costs, which the company utilized as sales incentives amidst challenging market conditions.
4. Adverse Macroeconomic Headwinds from Rising Mortgage Rates.
A significant factor impacting the housing market and M/I Homes was the sharp increase in mortgage interest rates during fiscal Q3 2026, with the 30-year fixed rate climbing towards 7.75% and reaching 7.40% by mid-October. This rise in borrowing costs severely affected homebuyer affordability and sentiment, which the CEO identified as a primary challenge. The Federal Reserve also raised its benchmark interest rate by 25 basis points in September 2026.
5. Substantial Insider Selling Activity.
During the period, there was notable insider selling, with net reported sales exceeding $5 million. Over the past 12 months, insiders reported $14.4 million in sales, including $9.2 million from the Executive Vice President and CFO, Phillip G. Creek, which can signal a lack of confidence from company leadership.
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Stock Movement Drivers
Fundamental Drivers
The -7.2% change in MHO stock from 7/31/2026 to 11/9/2026 was primarily driven by a -11.4% change in the company's Net Income Margin (%).| (LTM values as of) | 7312026 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 146.13 | 135.57 | -7.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,263 | 4,207 | -1.3% |
| Net Income Margin (%) | 7.4% | 6.6% | -11.4% |
| P/E Multiple | 11.8 | 12.4 | 5.2% |
| Shares Outstanding (Mil) | 26 | 25 | 0.9% |
| Cumulative Contribution | -7.2% |
Market Drivers
7/31/2026 to 11/9/2026| Return | Correlation | |
|---|---|---|
| MHO | -7.2% | |
| Market (SPY) | 0.8% | 26.0% |
| Sector (XLY) | 4.2% | 52.6% |
Fundamental Drivers
The 3.1% change in MHO stock from 4/30/2026 to 11/9/2026 was primarily driven by a 30.7% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 131.49 | 135.57 | 3.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,362 | 4,207 | -3.6% |
| Net Income Margin (%) | 8.2% | 6.6% | -20.0% |
| P/E Multiple | 9.5 | 12.4 | 30.7% |
| Shares Outstanding (Mil) | 26 | 25 | 2.3% |
| Cumulative Contribution | 3.1% |
Market Drivers
4/30/2026 to 11/9/2026| Return | Correlation | |
|---|---|---|
| MHO | 3.1% | |
| Market (SPY) | 5.0% | 25.3% |
| Sector (XLY) | 2.5% | 42.9% |
Fundamental Drivers
The 8.3% change in MHO stock from 10/31/2025 to 11/9/2026 was primarily driven by a 76.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 125.19 | 135.57 | 8.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,476 | 4,207 | -6.0% |
| Net Income Margin (%) | 10.6% | 6.6% | -37.5% |
| P/E Multiple | 7.0 | 12.4 | 76.7% |
| Shares Outstanding (Mil) | 27 | 25 | 4.4% |
| Cumulative Contribution | 8.3% |
Market Drivers
10/31/2025 to 11/9/2026| Return | Correlation | |
|---|---|---|
| MHO | 8.3% | |
| Market (SPY) | 11.3% | 30.6% |
| Sector (XLY) | 1.5% | 45.0% |
Fundamental Drivers
The 65.2% change in MHO stock from 10/31/2023 to 11/9/2026 was primarily driven by a 166.1% change in the company's P/E Multiple.| (LTM values as of) | 10312023 | 11092026 | Change |
|---|---|---|---|
| Stock Price ($) | 82.07 | 135.57 | 65.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,278 | 4,207 | -1.6% |
| Net Income Margin (%) | 11.5% | 6.6% | -42.5% |
| P/E Multiple | 4.7 | 12.4 | 166.1% |
| Shares Outstanding (Mil) | 28 | 25 | 9.7% |
| Cumulative Contribution | 65.2% |
Market Drivers
10/31/2023 to 11/9/2026| Return | Correlation | |
|---|---|---|
| MHO | 65.2% | |
| Market (SPY) | 86.2% | 38.3% |
| Sector (XLY) | 62.8% | 47.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MHO Return | 40% | -26% | 198% | -3% | -4% | 6% | 206% |
| Peers Return | 52% | -22% | 86% | 6% | -3% | 4% | 138% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 96% |
Monthly Win Rates [3] | |||||||
| MHO Win Rate | 58% | 42% | 67% | 42% | 33% | 64% | |
| Peers Win Rate | 75% | 40% | 63% | 62% | 43% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| MHO Max Drawdown | -26% | -43% | -26% | -24% | -25% | -30% | |
| Peers Max Drawdown | -19% | -41% | -20% | -26% | -26% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DHI, LEN, PHM, NVR, TOL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/9/2026 (YTD)
How Low Can It Go
| Event | MHO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -10.6% | -18.8% |
| % Gain to Breakeven | 11.9% | 23.1% |
| Time to Breakeven | 71 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.0% | -9.5% |
| % Gain to Breakeven | 25.0% | 10.5% |
| Time to Breakeven | 14 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.2% | -24.5% |
| % Gain to Breakeven | 70.2% | 32.4% |
| Time to Breakeven | 127 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -77.1% | -33.7% |
| % Gain to Breakeven | 336.8% | 50.9% |
| Time to Breakeven | 134 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -13.3% | -19.2% |
| % Gain to Breakeven | 15.3% | 23.8% |
| Time to Breakeven | 14 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.0% | -3.7% |
| % Gain to Breakeven | 12.4% | 3.9% |
| Time to Breakeven | 26 days | 6 days |
In The Past
M/I Homes's stock fell -10.6% during the 2025 US Tariff Shock. Such a loss loss requires a 11.9% gain to breakeven.
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| Event | MHO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.2% | -24.5% |
| % Gain to Breakeven | 70.2% | 32.4% |
| Time to Breakeven | 127 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -77.1% | -33.7% |
| % Gain to Breakeven | 336.8% | 50.9% |
| Time to Breakeven | 134 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -39.0% | -12.2% |
| % Gain to Breakeven | 63.9% | 13.9% |
| Time to Breakeven | 300 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -31.0% | -6.8% |
| % Gain to Breakeven | 44.9% | 7.3% |
| Time to Breakeven | 168 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -25.6% | -0.2% |
| % Gain to Breakeven | 34.3% | 0.2% |
| Time to Breakeven | 69 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -58.4% | -17.9% |
| % Gain to Breakeven | 140.4% | 21.8% |
| Time to Breakeven | 109 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -48.8% | -15.4% |
| % Gain to Breakeven | 95.1% | 18.2% |
| Time to Breakeven | 727 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -50.4% | -53.4% |
| % Gain to Breakeven | 101.4% | 114.4% |
| Time to Breakeven | 44 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -47.7% | -8.6% |
| % Gain to Breakeven | 91.0% | 9.5% |
| Time to Breakeven | 1938 days | 47 days |
In The Past
M/I Homes's stock fell -10.6% during the 2025 US Tariff Shock. Such a loss loss requires a 11.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About M/I Homes (MHO)
M/I Homes, Inc. (MHO) is a significant builder of single-family homes and attached townhomes across a broad geographic footprint in the United States. Operating through Northern and Southern Homebuilding segments, the company primarily serves markets in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. It caters to a diverse range of homebuyers, including first-time, millennial, move-up, empty-nester, and luxury buyers, all under its established M/I Homes brand name.
Beyond its core homebuilding operations, M/I Homes employs an integrated business model. The company actively acquires undeveloped land, developing it into finished lots for its own home construction, and sometimes for sale to other builders. Furthermore, through its Financial Services segment, M/I Homes offers critical support to its homebuyers by originating and selling mortgages, and by serving as a title insurance agent, providing essential title insurance policies and closing services.
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- Single-Family Homes: M/I Homes designs, constructs, markets, and sells new single-family homes to various buyer types.
- Attached Townhomes: The company also designs, constructs, markets, and sells attached townhomes.
- Developed Land Lots: M/I Homes acquires undeveloped land, develops it into buildable lots, and may sell these developed lots to others.
- Mortgage Origination and Sales: The company originates mortgages for its home buyers and subsequently sells these mortgages.
- Title Insurance and Closing Services: M/I Homes acts as a title insurance agent, offering title insurance policies, examination, and closing services to purchasers of its homes.
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M/I Homes (MHO) primarily sells single-family homes and attached townhomes directly to individual buyers. The company categorizes its customers into various segments based on their purchasing needs and life stages. The major categories of individual customers it serves include:
- First-time buyers: Individuals or families purchasing their first home.
- Move-up buyers: Those who are looking to purchase a larger or more expensive home than their current one.
- Luxury buyers: Customers seeking high-end homes with premium features and amenities.
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Robert H. Schottenstein, Chairman, President & Chief Executive Officer
Robert H. Schottenstein has served as Chairman of M/I Homes since March 2004, Chief Executive Officer since January 2004, and President since May 1996. He has been with M/I Homes since 1985. He currently serves as a director of Installed Building Products, Inc. and previously served as a director of Bath & Body Works, Inc. (formerly L Brands, Inc.) from April 2017 to May 2022. Schottenstein also holds board positions with The Ohio State University Wexner Medical Center, The Ohio State University Foundation, the Jewish Federations of North America, and Pelotonia, and is a member of the Columbus Partnership. He served as a Trustee of The Ohio State University from 2005 to 2014 and as Chair of the Board of Trustees from 2012 to 2014. His father, Irving Schottenstein, co-founded M/I Homes in 1976.
Phillip G. Creek, Executive Vice President & Chief Financial Officer
Phillip G. Creek has been the Chief Financial Officer of M/I Homes since September 2000. He also holds the title of Executive Vice President of the Company since February 2008 and has been the Chief Financial Officer of M/I Financial Corp., a wholly-owned subsidiary, since September 2000.
Susan E. Krohne, Senior Vice President, Chief Legal Officer & Secretary
Susan E. Krohne joined M/I Homes as Senior Vice President, Chief Legal Counsel, and Secretary in June 2021. Prior to joining M/I Homes, Ms. Krohne was with Pedcor Investments, where she served as Senior Vice President and Chief Legal Counsel from 2010 until April 2021, having joined the company in 2003.
Kevin C. Hake, Senior Vice President of Finance & Business Development and Treasurer
Mr. Kevin C. Hake serves as the Senior Vice President of Finance & Business Development and Treasurer at M/I Homes, Inc.
Ann Marie W. Hunker, Chief Accounting Officer, Vice President and Corporate Controller
Ms. Ann Marie W. Hunker holds the positions of Chief Accounting Officer, Vice President, and Corporate Controller at M/I Homes, Inc.
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- Sensitivity to Economic Conditions and Interest Rate Fluctuations: M/I Homes' business is highly vulnerable to changes in the broader economic environment, particularly interest rate fluctuations. High mortgage rates directly impact homebuyer affordability, leading to decreased demand for new homes, increased cancellation rates, and greater reliance on sales incentives like mortgage rate buydowns. These factors can pressure the company's revenues and gross margins.
- Rising Land, Construction, and Labor Costs: The company faces significant risks from increasing costs associated with land acquisition and development, building materials, and labor. These rising input costs can compress gross margins and negatively impact profitability, even if demand remains stable.
- Overall Housing Market Uncertainty and Demand Challenges: M/I Homes is exposed to broader housing market uncertainties, including potential declines in consumer confidence and a "choppy" demand environment. Such conditions can lead to decelerating sales, lower average selling prices, and increased competitive pressures, requiring the company to balance pricing and sales pace, potentially at the expense of profitability.
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Addressable Markets for M/I Homes (MHO)
M/I Homes operates as a builder of single-family homes and attached townhomes, and also provides financial services, including mortgage originations and title insurance. The addressable markets for their main products and services in the United States are outlined below.
Residential Construction (Single-Family Homes and Townhomes)
The U.S. residential construction market, which includes single-family homes and townhomes, was estimated at approximately $1,913.71 billion in 2024 and is projected to grow to $1,993.55 billion in 2025. Another estimate for the U.S. residential construction market size in 2026 is $1.41 trillion, increasing from a 2025 value of $1.35 trillion. Private residential construction spending in the U.S. for 2025 was approximately $905.2 billion.
In terms of units, an estimated 679,000 new homes were sold in the U.S. in 2025. Single-family housing starts in the U.S. for 2025 totaled 943,000 units.
Mortgage Origination Market
The U.S. mortgage origination market is substantial and growing. Single-family mortgage originations in the U.S. increased 19% year-over-year, from $207 billion in Q1 2024 to $246 billion in Q1 2025. Forecasts by the Mortgage Bankers Association (MBA), Moody's, and Fannie Mae anticipate continued growth for the remainder of 2025, with an annualized mortgage production dollar growth of 13% from 2024 to 2025. The Mortgage Bankers Association (MBA) initially projected the overall U.S. mortgage origination market for 2025 to be $2.3 trillion, later revising it to $2.1 trillion. Total mortgage lending volume in the U.S. for Q3 2025 was $600.4 billion.
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Here are 3-5 expected drivers of future revenue growth for M/I Homes (MHO) over the next 2-3 years:
- Expansion of Community Count: M/I Homes anticipates an increase in its average community count, with an estimated 5% growth in 2026 compared to 2025. This expansion in the number of communities directly contributes to a higher volume of homes available for sale.
- Focus on Affordable Housing Options: The company's strategic emphasis on more affordable housing options, including its "Smart Series" platform, aims to broaden its customer base and stimulate sales. This approach helps M/I Homes capture demand from first-time homebuyers, millennials, and Gen Z, who are seeking more attainable homeownership opportunities.
- Leveraging Favorable Long-Term Housing Demand: Analysts highlight a persistent undersupply of housing in the U.S., alongside increasing demand from millennials and Gen Z. This strong underlying market dynamic is expected to create a favorable environment for M/I Homes to grow its customer base and sales volume over the coming years.
- Strong Performance and High Capture Rate of Financial Services: M/I Homes' Financial Services segment continues to be a significant contributor to revenue, achieving a record capture rate of 93% in 2025. This integrated service, offering mortgages and title insurance, directly supports home sales and facilitates transactions for its buyers, thereby enhancing overall revenue generation.
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Share Repurchases
- M/I Homes repurchased $202.0 million of its outstanding common shares in 2025.
- As of November 12, 2025, the company had a new share repurchase authorization of $250 million, which replaced a previous program with $80 million remaining as of November 11, 2025.
- Since 2020, M/I Homes has repurchased over $501 million worth of shares, contributing to a reduction in shares outstanding from 29.1 million in 2021 to 27.1 million in Q3 2025.
Share Issuance
- No significant dollar amount of direct share issuances by M/I Homes to raise capital was identified in the provided information over the last 3-5 years.
Inbound Investments
- No information regarding large, strategic inbound investments made in M/I Homes by third-parties (such as strategic partners or private equity firms) was available.
Outbound Investments
- No information regarding significant outbound strategic investments made by M/I Homes in other companies was available.
Capital Expenditures
- In 2025, M/I Homes invested $523.7 million in land acquisitions and $645.6 million in land development.
- The primary focus of capital expenditures is on managing land spending to meet long-term growth objectives, emphasizing opportunities that align with operating returns and location requirements.
- The company plans for continued strategic investment in land and development in 2026, aiming to grow its average community count by approximately 5% compared to 2025.
Peer Outperformance in Homebuilding
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| MHO | M/I Homes | -0.5% | 12.4x | 5.9% | 41.3% | 123.5% | — |
| PHM | PulteGroup | -1.6% | 14.1x | 14.4% | 68.8% | 174.3% | +51pp |
| TOL | Toll Brothers | 0.2% | 12.2x | 17.7% | 99.2% | 157.6% | +34pp |
| GRBK | Green Brick Partners | 3.3% | 10.5x | 6.1% | 49.0% | 156.3% | +33pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -14.8% | 35.2% | 48.5% | CVSA 240% · GHC 115% · LRN 112% |
| Homebuilding ← | 17 | 5.9% | 30.8% | 30.1% | PHM 174% · TOL 158% · GRBK 156% |
| Automotive Retail | 17 | -3.6% | 15.6% | 14.9% | MUSA 192% · PAG 116% · ORLY 109% |
| Hotels, Resorts & Cruise Lines | 21 | 20.0% | 70.0% | 14.9% | RCL 282% · MAR 164% · HLT 155% |
| Home Improvement Retail | 5 | -2.1% | 8.9% | 5.6% | LOW 10% · HD 8% · FND -60% |
| Home Furnishings | 3 | 6.8% | 82.0% | 1.7% | SGI 57% · MHK -10% |
| Footwear | 9 | 83.4% | 101.1% | -10.2% | DECK 28% · SHOO -5% · CROX -10% |
| Restaurants | 36 | 4.9% | -1.1% | -17.9% | EAT 357% · CAKE 174% · TXRH 121% |
| Specialized Consumer Services | 10 | -11.0% | 32.7% | -22.0% | FTDR 186% · HRB 142% · SCI 20% |
| Distributors | 4 | -3.9% | -14.3% | -23.7% | ARMK 108% · GPC 8% · POOL -55% |
| Computer & Electronics Retail | 3 | 41.6% | 91.8% | -24.9% | BBY 1% · GME -50% |
| Leisure Products | 14 | -16.8% | -2.4% | -32.7% | GOLF 61% · HAS 50% · BC -10% |
| Leisure Facilities | 12 | 22.0% | 9.1% | -35.1% | OSW 172% · LTH 142% · PLNT -35% |
| Household Appliances | 18 | 41.6% | 20.6% | -38.2% | WHR -82% |
| Broadline Retail | 12 | 1.8% | 37.9% | -43.8% | EBAY 79% · AMZN 49% · OLLI 35% |
| Apparel, Accessories & Luxury Goods | 29 | 18.9% | 25.2% | -46.3% | TPR 264% · RL 240% · KTB 63% |
| Apparel Retail | 27 | -2.8% | 12.8% | -47.5% | ANF 232% · VSXY 125% · TJX 112% |
| Casinos & Gaming | 21 | -27.7% | -16.1% | -51.8% | RRR 29% · BYD 28% · LVS 5% |
| Automotive Parts & Equipment | 37 | -11.0% | -16.5% | -52.4% | GTX 197% · PATK 76% · ALV 39% |
| Other Specialty Retail | 25 | -0.8% | -6.1% | -56.0% | ULTA 68% · ASO 57% · ARHS 33% |
| Consumer Electronics | 11 | -25.8% | -17.1% | -79.5% | GRMN 123% · SONO -51% |
| Automobile Manufacturers | 9 | -60.6% | -42.4% | -86.1% | GM 60% · TSLA 11% · F -16% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 145.75 |
| Mkt Cap | 19.3 |
| Rev LTM | 13,368 |
| Op Inc LTM | 1,644 |
| FCF LTM | 954 |
| FCF 3Y Avg | 1,208 |
| CFO LTM | 1,065 |
| CFO 3Y Avg | 1,298 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -7.0% |
| Rev Chg 3Y Avg | -1.1% |
| Rev Chg Q | -8.3% |
| QoQ Delta Rev Chg LTM | -2.3% |
| Op Inc Chg LTM | -27.5% |
| Op Inc Chg 3Y Avg | -12.0% |
| Op Mgn LTM | 12.6% |
| Op Mgn 3Y Avg | 15.2% |
| QoQ Delta Op Mgn LTM | -0.7% |
| CFO/Rev LTM | 9.0% |
| CFO/Rev 3Y Avg | 8.5% |
| FCF/Rev LTM | 8.4% |
| FCF/Rev 3Y Avg | 7.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 19.3 |
| P/S | 1.3 |
| P/Op Inc | 11.0 |
| P/EBIT | 11.2 |
| P/E | 14.3 |
| P/CFO | 18.9 |
| Total Yield | 8.1% |
| Dividend Yield | 0.7% |
| FCF Yield 3Y Avg | 5.1% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Southern homebuilding | 2,402 | 2,488 | 2,416 | 2,331 | 2,048 |
| Northern homebuilding | 1,890 | 1,900 | 1,524 | 1,714 | 1,596 |
| Financial services | 125 | 116 | 94 | 86 | 102 |
| Total | 4,418 | 4,505 | 4,034 | 4,131 | 3,746 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Northern homebuilding | 278 | 281 | 176 | 217 | 212 |
| Southern homebuilding | 250 | 451 | 440 | 452 | 313 |
| Financial services | 68 | 63 | 49 | 44 | 62 |
| Corporate selling, general and administrative expenses | -90 | -89 | -78 | -76 | -69 |
| Total | 507 | 706 | 587 | 637 | 518 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Southern homebuilding | 2,433 | 2,236 | 1,919 | 1,875 | 1,582 |
| Northern homebuilding | 1,214 | 1,092 | 1,063 | 1,147 | 1,029 |
| Corporate and Unallocated | 754 | 852 | 1,040 | 693 | 629 |
| Financial services | 376 | 371 | |||
| Total | 4,777 | 4,550 | 4,022 | 3,715 | 3,240 |
Price Behavior
| Market Price | $135.57 | |
| Market Cap ($ Bil) | 3.4 | |
| First Trading Date | 11/03/1993 | |
| Distance from 52W High | -16.8% | |
| 50 Days | 200 Days | |
| DMA Price | $133.98 | $137.57 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 1.2% | -1.5% |
| 3M | 1YR | |
| Volatility | 38.8% | 34.9% |
| Downside Capture | 74.96 | 73.95 |
| Upside Capture | 7.19 | 70.01 |
| Correlation (S&P 500) | 18.9% | 30.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.21 | -0.08 | 0.43 | 0.56 | 0.74 | 0.93 |
| Up Beta | -2.68 | 0.94 | 0.61 | 0.29 | 1.17 | 1.00 |
| Down Beta | -1.18 | -0.76 | -0.64 | 0.38 | 0.51 | 0.57 |
| Up Capture | -160% | -51% | 31% | 59% | 54% | 108% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 10 | 20 | 30 | 60 | 123 | 385 |
| Down Capture | -78% | 67% | 113% | 79% | 78% | 103% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 12 | 23 | 34 | 65 | 127 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MHO | |
|---|---|---|---|---|
| MHO | 6.9% | 34.9% | 0.24 | - |
| Sector ETF (XLY) | 3.4% | 19.9% | 0.04 | 45.4% |
| Equity (SPY) | 13.3% | 13.7% | 0.65 | 30.8% |
| Gold (GLD) | 3.7% | 28.8% | 0.12 | 17.2% |
| Commodities (DBC) | 38.2% | 21.3% | 1.42 | -31.6% |
| Real Estate (VNQ) | 13.7% | 14.3% | 0.65 | 53.3% |
| Bitcoin (BTCUSD) | -25.3% | 43.6% | -0.55 | 2.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MHO | |
|---|---|---|---|---|
| MHO | 18.1% | 39.0% | 0.52 | - |
| Sector ETF (XLY) | 4.2% | 24.2% | 0.13 | 54.5% |
| Equity (SPY) | 11.8% | 17.3% | 0.51 | 50.5% |
| Gold (GLD) | 17.8% | 19.1% | 0.75 | 12.2% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 0.4% |
| Real Estate (VNQ) | 1.5% | 18.9% | -0.03 | 57.1% |
| Bitcoin (BTCUSD) | 4.4% | 51.6% | 0.27 | 24.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MHO | |
|---|---|---|---|---|
| MHO | 20.3% | 46.3% | 0.57 | - |
| Sector ETF (XLY) | 13.1% | 22.3% | 0.53 | 54.6% |
| Equity (SPY) | 15.3% | 18.0% | 0.72 | 51.4% |
| Gold (GLD) | 12.1% | 16.5% | 0.60 | 12.9% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 14.7% |
| Real Estate (VNQ) | 6.1% | 20.7% | 0.25 | 56.3% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 18.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/30/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2026 | -8.1% | 1.7% | |
| 7/29/2026 | 1.5% | -1.3% | 0.1% |
| 4/22/2026 | 3.7% | 5.0% | -1.1% |
| 1/28/2026 | 3.0% | 4.9% | 7.4% |
| 10/22/2025 | -6.1% | -6.6% | -11.3% |
| 7/23/2025 | -2.3% | -2.5% | 12.0% |
| 4/23/2025 | 1.7% | 1.2% | 0.9% |
| 1/29/2025 | 1.2% | -5.8% | -8.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 17 | 14 | 15 |
| # Negative | 8 | 11 | 9 |
| Median Positive | 2.4% | 4.9% | 4.9% |
| Median Negative | -2.3% | -4.6% | -1.8% |
| Max Positive | 6.2% | 17.6% | 31.9% |
| Max Negative | -8.1% | -12.1% | -11.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2026 | -8.1% | 1.7% | |
| 7/29/2026 | 1.5% | -1.3% | 0.1% |
| 4/22/2026 | 3.7% | 5.0% | -1.1% |
| 1/28/2026 | 3.0% | 4.9% | 7.4% |
| 10/22/2025 | -6.1% | -6.6% | -11.3% |
| 7/23/2025 | -2.3% | -2.5% | 12.0% |
| 4/23/2025 | 1.7% | 1.2% | 0.9% |
| 1/29/2025 | 1.2% | -5.8% | -8.8% |
| 10/30/2024 | -0.3% | 4.4% | 7.2% |
| 7/30/2024 | 0.6% | -12.1% | -2.6% |
| 4/24/2024 | 2.5% | -2.7% | 3.6% |
| 1/31/2024 | 1.1% | -5.7% | 3.0% |
| 10/25/2023 | 2.1% | 7.8% | 31.9% |
| 7/26/2023 | 2.4% | 6.1% | -0.0% |
| 4/26/2023 | 5.0% | 4.8% | 11.3% |
| 2/1/2023 | 3.8% | -1.7% | -1.3% |
| 10/26/2022 | -2.4% | -7.2% | 2.9% |
| 7/27/2022 | 0.6% | -4.6% | -0.5% |
| 4/27/2022 | 4.6% | 17.6% | 8.3% |
| 2/2/2022 | -1.4% | -3.1% | -2.6% |
| 10/27/2021 | 0.5% | 0.9% | 1.3% |
| 7/28/2021 | 6.2% | 2.3% | 4.5% |
| 4/28/2021 | 4.5% | 7.8% | 5.3% |
| 2/2/2021 | -0.7% | 11.4% | -1.8% |
| 10/28/2020 | -2.6% | 7.3% | 4.9% |
| SUMMARY STATS | |||
| # Positive | 17 | 14 | 15 |
| # Negative | 8 | 11 | 9 |
| Median Positive | 2.4% | 4.9% | 4.9% |
| Median Negative | -2.3% | -4.6% | -1.8% |
| Max Positive | 6.2% | 17.6% | 31.9% |
| Max Negative | -8.1% | -12.1% | -11.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/23/2026 | 10-Q |
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 04/24/2026 | 10-Q |
| 12/31/2025 | 02/13/2026 | 10-K |
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/23/2026 | 10-Q |
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 04/24/2026 | 10-Q |
| 12/31/2025 | 02/13/2026 | 10-K |
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/29/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/01/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
Insider Activity
Updated 10/30/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 10302026 | 126.28 | 20,000 | 2,525,599 | 3,904,324 | Form |
| 2 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8062026 | 151.28 | 10,000 | 1,512,798 | 4,677,268 | Form |
| 3 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8062026 | 149.56 | 20,000 | 2,991,252 | 4,624,176 | Form |
| 4 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8042026 | 148.00 | 10,000 | 1,480,000 | 4,575,864 | Form |
| 5 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8042026 | 150.00 | 10,000 | 1,500,000 | 4,637,700 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 10302026 | 126.28 | 20,000 | 2,525,599 | 3,904,324 | Form |
| 2 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8062026 | 151.28 | 10,000 | 1,512,798 | 4,677,268 | Form |
| 3 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8062026 | 149.56 | 20,000 | 2,991,252 | 4,624,176 | Form |
| 4 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8042026 | 148.00 | 10,000 | 1,480,000 | 4,575,864 | Form |
| 5 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 8042026 | 150.00 | 10,000 | 1,500,000 | 4,637,700 | Form |
| 6 | Kramer, Nancy J | Direct | Sell | 5222026 | 125.56 | 1,822 | Form | |||
| 7 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 2232026 | 142.18 | 2,205 | 313,515 | 4,396,029 | Form |
| 8 | Hunker, Ann Marie | Principal Accounting Officer | Direct | Sell | 2192026 | 145.50 | 121 | 17,605 | 485,229 | Form |
| 9 | Krohne, Susan E | Chief Legal Officer, Secretary | Direct | Sell | 2192026 | 145.50 | 542 | 78,859 | 1,086,273 | Form |
| 10 | Schottenstein, Robert H | Chairman, CEO & President | Direct | Sell | 2192026 | 144.31 | 27,608 | 3,984,161 | 49,773,872 | Form |
| 11 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 2192026 | 145.50 | 1,805 | 262,620 | 4,819,264 | Form |
| 12 | Krohne, Susan E | Chief Legal Officer, Secretary | Direct | Sell | 2172026 | 148.13 | 763 | 113,023 | 1,186,225 | Form |
| 13 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 2172026 | 149.03 | 10,887 | 1,622,468 | 5,205,249 | Form |
| 14 | Krohne, Susan E | Chief Legal Officer, Secretary | Direct | Sell | 2132026 | 146.80 | 491 | 72,080 | 1,287,609 | Form |
| 15 | Hunker, Ann Marie | Principal Accounting Officer | Direct | Sell | 2132026 | 146.80 | 132 | 19,378 | 507,351 | Form |
| 16 | Creek, Phillip G | Ex. Vice President and CFO | Direct | Sell | 2132026 | 146.80 | 8,616 | 1,264,855 | 6,725,779 | Form |
| 17 | Schottenstein, Robert H | Chairman, CEO & President | Direct | Sell | 2132026 | 146.80 | 14,974 | 2,198,228 | 51,162,754 | Form |
| 18 | Schottenstein, Robert H | Chairman, CEO & President | Direct | Sell | 2112026 | 144.47 | 20,000 | 2,889,342 | 45,344,467 | Form |
| 19 | Krohne, Susan E | Chief Legal Officer, Secretary | Direct | Sell | 2022026 | 134.28 | 5,000 | 671,400 | 828,105 | Form |
Investor Activity (13F)
Updated Nov 10, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
M/I Homes — Investor Video Playlist
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Homebuilding Resources |
| Builder Online |
| Professional Builder |
| HousingWire |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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