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MHO

M/I HomesNYSE:MHO Stock Report

Market Cap

US$1.8b

7D

2.8%

1Y

36.6%

Updated

27 Sep, 2021

Data

Company Financials +
MHO fundamental analysis
Snowflake Score
Valuation6/6
Future Growth1/6
Past Performance6/6
Financial Health5/6
Dividends0/6

MHO Overview

M/I Homes, Inc., together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Michigan, Minnesota, North Carolina, Florida, and Texas, the United States.

M/I Homes Competitors

Price History & Performance

Summary of all time highs, changes and price drops for M/I Homes
Historical stock prices
Current Share PriceUS$61.92
52 Week HighUS$40.24
52 Week LowUS$74.85
Beta2.09
1 Month Change-5.71%
3 Month Change4.84%
1 Year Change36.57%
3 Year Change161.38%
5 Year Change163.04%
Change since IPO761.50%

Recent News & Updates

Sep 25
M/I Homes (NYSE:MHO) Is Doing The Right Things To Multiply Its Share Price

M/I Homes (NYSE:MHO) Is Doing The Right Things To Multiply Its Share Price

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...

Sep 03

M/I Homes: Another Super-Cheap Homebuilder, Could Double From Here

Demand for new housing should be strong for the foreseeable future, and competition is rational. M/I has a solid EPS outlook. I see $20 a share by 2025. M/I has transitioned from meager to abundant free cash flow. Lots of buybacks ahead. My valuation is silly-low. A 5 P/E on this year's earnings, and 3x my '25 forecast.

Aug 09

M/I Homes: A Small But Fast-Growing Homebuilder

M/I Homes may become a beneficiary of the high demand for new houses in the US and shortage of homes for sale. The integration of the Smart Series program and the sale of houses in regions with affordable mortgages will drive volume of sales; we forecast revenue growth of +38.8% YoY. MHO has low correlation with the real estate market and grows by gaining market share. We at Invest Heroes assign a buy rating to M/I Homes with target price of $82. The upside is 34%.

Aug 01

M/I Homes: And The Growth Story Goes On

The housing market is back on track stronger than ever, and MHO has strengthened its competitive position with improved fundamentals and stellar growth. Despite the gap in RoI between the company and DHI, the homebuilding leader, MHO, has made remarkable progress in improving its RoI. Smart Series Home is an affordable, personalized, and speedy option, well-suited to the Millennials market, which remains an unlocked golden territory for the company, with a massive upside. MHO trades at a deep discount compared to both its intrinsic value estimate and its peers. Hence, the improved operating performance, growth, and low valuation multiples support the bullish rating.

Shareholder Returns

MHOUS Consumer DurablesUS Market
7D2.8%-0.9%0.1%
1Y36.6%38.0%35.3%

Return vs Industry: MHO exceeded the US Consumer Durables industry which returned 37.9% over the past year.

Return vs Market: MHO exceeded the US Market which returned 35.3% over the past year.

Price Volatility

Is MHO's price volatile compared to industry and market?
MHO volatility
MHO Beta2.09
Industry Beta1.45
Market Beta1

Stable Share Price: MHO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: MHO's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19761,515Bob Schottensteinhttps://www.mihomes.com

M/I Homes, Inc., together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Michigan, Minnesota, North Carolina, Florida, and Texas, the United States. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments. It designs, constructs, markets, and sells single-family homes and attached townhomes to first-time, millennial, move-up, empty-nester, and luxury buyers under the M/I Homes brand name.

M/I Homes Fundamentals Summary

How do M/I Homes's earnings and revenue compare to its market cap?
MHO fundamental statistics
Market CapUS$1.82b
Earnings (TTM)US$346.09m
Revenue (TTM)US$3.54b

5.2x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MHO income statement (TTM)
RevenueUS$3.54b
Cost of RevenueUS$2.69b
Gross ProfitUS$851.79m
ExpensesUS$505.69m
EarningsUS$346.09m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)11.80
Gross Margin24.03%
Net Profit Margin9.77%
Debt/Equity Ratio55.5%

How did MHO perform over the long term?

See historical performance and comparison

Valuation

Is M/I Homes undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MHO ($60.18) is trading below our estimate of fair value ($1097.33)

Significantly Below Fair Value: MHO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MHO is good value based on its PE Ratio (5.1x) compared to the US Consumer Durables industry average (11.1x).

PE vs Market: MHO is good value based on its PE Ratio (5.1x) compared to the US market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: MHO is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: MHO is good value based on its PB Ratio (1.2x) compared to the US Consumer Durables industry average (2.1x).


Future Growth

How is M/I Homes forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

12.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MHO's forecast earnings growth (12% per year) is above the savings rate (2%).

Earnings vs Market: MHO's earnings (12% per year) are forecast to grow slower than the US market (15% per year).

High Growth Earnings: MHO's earnings are forecast to grow, but not significantly.

Revenue vs Market: MHO's revenue (8.3% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: MHO's revenue (8.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MHO's Return on Equity is forecast to be high in 3 years time


Past Performance

How has M/I Homes performed over the past 5 years?

38.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MHO has high quality earnings.

Growing Profit Margin: MHO's current net profit margins (9.8%) are higher than last year (6.2%).


Past Earnings Growth Analysis

Earnings Trend: MHO's earnings have grown significantly by 38.5% per year over the past 5 years.

Accelerating Growth: MHO's earnings growth over the past year (108.7%) exceeds its 5-year average (38.5% per year).

Earnings vs Industry: MHO earnings growth over the past year (108.7%) exceeded the Consumer Durables industry 77.1%.


Return on Equity

High ROE: MHO's Return on Equity (23.6%) is considered high.


Financial Health

How is M/I Homes's financial position?


Financial Position Analysis

Short Term Liabilities: MHO's short term assets ($2.6B) exceed its short term liabilities ($432.1M).

Long Term Liabilities: MHO's short term assets ($2.6B) exceed its long term liabilities ($962.8M).


Debt to Equity History and Analysis

Debt Level: MHO's debt to equity ratio (55.5%) is considered high.

Reducing Debt: MHO's debt to equity ratio has reduced from 98% to 55.5% over the past 5 years.

Debt Coverage: MHO's debt is well covered by operating cash flow (31.9%).

Interest Coverage: MHO's interest payments on its debt are well covered by EBIT (405.9x coverage).


Balance Sheet


Dividend

What is M/I Homes's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MHO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MHO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MHO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MHO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MHO's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.1yrs

Average management tenure


CEO

Bob Schottenstein (68 yo)

17.67yrs

Tenure

US$6,882,675

Compensation

Mr. Robert H. Schottenstein, also known as Bob, served as an Independent Director of Installed Building Products, Inc. since April 22, 2014 until March 18, 2020. He has been the Chief Executive Officer of...


CEO Compensation Analysis

Compensation vs Market: Bob's total compensation ($USD6.88M) is above average for companies of similar size in the US market ($USD3.68M).

Compensation vs Earnings: Bob's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: MHO's management team is seasoned and experienced (5.1 years average tenure).


Board Members

Experienced Board: MHO's board of directors are considered experienced (8.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MHO insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.7%.


Top Shareholders

Company Information

M/I Homes, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: M/I Homes, Inc.
  • Ticker: MHO
  • Exchange: NYSE
  • Founded: 1976
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Market Cap: US$1.815b
  • Shares outstanding: 29.32m
  • Website: https://www.mihomes.com

Number of Employees


Location

  • M/I Homes, Inc.
  • 4131 Worth Avenue
  • Suite 500
  • Columbus
  • Ohio
  • 43219-6011
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/27 22:56
End of Day Share Price2021/09/27 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.