NYSE:MHO

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Very undervalued with proven track record.

Risks

  • M/I Homes is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has M/I Homes's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.0%

NYSE:MHO

0.9%

US Consumer Durables

-1.6%

US Market


1 Year Return

38.3%

NYSE:MHO

5.9%

US Consumer Durables

-3.0%

US Market

MHO outperformed the Consumer Durables industry which returned 5.9% over the past year.

MHO outperformed the Market in United States of America which returned -3% over the past year.


Share holder returns

MHOIndustryMarket
7 Day2.0%0.9%-1.6%
30 Day8.7%1.7%-5.8%
90 Day27.1%2.7%0.2%
1 Year38.3%38.3%7.3%5.9%-0.8%-3.0%
3 Year55.6%55.6%35.2%31.2%38.0%29.1%
5 Year58.5%58.5%28.2%20.1%50.8%34.1%

Price Volatility Vs. Market

How volatile is M/I Homes's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is M/I Homes undervalued based on future cash flows and its price relative to the stock market?

46%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

M/I Homes's share price is below the future cash flow value, and at a moderate discount (> 20%).

M/I Homes's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

M/I Homes is good value based on earnings compared to the US Consumer Durables industry average.

M/I Homes is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

M/I Homes is good value based on expected growth next year.


Price Based on Value of Assets

M/I Homes is good value based on assets compared to the US Consumer Durables industry average.


Next Steps

Future Growth

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

9.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

M/I Homes's revenue is expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).

M/I Homes's earnings are expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).

M/I Homes's revenue growth is positive but not above the United States of America market average.

M/I Homes's earnings growth is positive but not above the United States of America market average.

M/I Homes's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if M/I Homes will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

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

10.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

M/I Homes's year on year earnings growth rate has been positive over the past 5 years.

M/I Homes's 1-year earnings growth exceeds its 5-year average (35.9% vs 10.4%)

M/I Homes's earnings growth has exceeded the US Consumer Durables industry average in the past year (35.9% vs 17.1%).


Return on Equity

M/I Homes has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

M/I Homes used its assets less efficiently than the US Consumer Durables industry average last year based on Return on Assets.


Return on Capital Employed

M/I Homes has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is M/I Homes's financial position?


Financial Position Analysis

M/I Homes is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

M/I Homes's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

M/I Homes's level of debt (91.6%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (84.9% vs 91.6% today).

Debt is not well covered by operating cash flow (3.5%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 9.6x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 2.3x debt.


Next Steps

Dividend

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


Dividend Yield and Payments Analysis

Unable to evaluate M/I Homes's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate M/I Homes's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as M/I Homes has not reported any payouts.

Unable to verify if M/I Homes's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as M/I Homes has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of M/I Homes's salary, the management and board of directors tenure and is there insider trading?

15.6yrs

Average management tenure


CEO

Bob Schottenstein (66yo)

15.6yrs

Tenure

US$5,252,080

Compensation

Mr. Robert H. Schottenstein, also known as Bob, has been the Chief Executive Officer of M/I Homes, Inc. (formerly M/I Schottenstein Homes Inc.) since January 12, 2004 and has been its President since May 1 ...


CEO Compensation Analysis

Bob's remuneration is higher than average for companies of similar size in United States of America.

Bob's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

15.6yrs

Average Tenure

62yo

Average Age

The average tenure for the M/I Homes management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

7.3yrs

Average Tenure

65yo

Average Age

The tenure for the M/I Homes board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

SellUS$1,652,49120 Feb 19
J. Mason
EntityIndividual
Role
Member of the Board of Directors
Executive VP
Shares61,190
Max PriceUS$27.01
SellUS$745,90320 Feb 19
Phillip Creek
EntityIndividual
Role
Member of the Board of Directors
Executive VP
Shares27,620
Max PriceUS$27.01
SellUS$1,118,90820 Feb 19
Robert Schottenstein
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares41,432
Max PriceUS$27.01

Ownership Breakdown


Management Team

  • Bob Schottenstein (66yo)

    Chairman

    • Tenure: 15.6yrs
    • Compensation: US$5.25m
  • Phillip Creek (66yo)

    Executive VP

    • Tenure: 17.6yrs
    • Compensation: US$2.75m
  • Kevin Hake (60yo)

    Senior VP of Finance & Business Development and Treasurer

    • Tenure: 0.0yrs
  • Tom Mason (62yo)

    Executive VP

    • Tenure: 12.8yrs
    • Compensation: US$1.89m
  • Paul Rosen (68yo)

    Senior Vice President

    • Tenure: 20.5yrs
  • Ann Marie Hunker

    VP & Corporate Controller

    • Tenure: 16.3yrs
  • Tom Jacobs (53yo)

    Region President

    • Tenure: 3.6yrs
  • Fred Sikorski (64yo)

    Region President of Columbus

    • Tenure: 3.3yrs
  • Ronald Martin (50yo)

    Region President of Detroit Division

    • Tenure: 3.1yrs
  • Derek Klutch (55yo)

    President & CEO of M/I Financial

    • Tenure: 2.8yrs

Board Members

  • Bill Carter (65yo)

    Independent Director

    • Tenure: 7.3yrs
    • Compensation: US$218.47k
  • Bob Schottenstein (66yo)

    Chairman

    • Tenure: 15.6yrs
    • Compensation: US$5.25m
  • Michael Glimcher (51yo)

    Independent Director

    • Tenure: 6.6yrs
    • Compensation: US$183.47k
  • Phillip Creek (66yo)

    Executive VP

    • Tenure: 17.6yrs
    • Compensation: US$2.75m
  • Friedl Böhm (77yo)

    Lead Independent Director

    • Tenure: 5.8yrs
    • Compensation: US$223.47k
  • Norman Traeger (79yo)

    Independent Director

    • Tenure: 22.6yrs
    • Compensation: US$198.47k
  • Nancy Kramer (63yo)

    Independent director

    • Tenure: 4.1yrs
    • Compensation: US$183.47k
  • Tom Mason (62yo)

    Executive VP

    • Tenure: 12.8yrs
    • Compensation: US$1.89m
  • Lisa Ingram (48yo)

    Director

    • Tenure: 0.5yrs

Company Information

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


Key Information

  • Name: M/I Homes, Inc.
  • Ticker: MHO
  • Exchange: NYSE
  • Founded: 1973
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Market Cap: US$996.158m
  • Shares outstanding: 27.62m
  • Website: https://www.mihomes.com

Number of Employees


Location

  • M/I Homes, Inc.
  • 3 Easton Oval
  • Suite 500
  • Columbus
  • Ohio
  • 43219
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MHONYSE (New York Stock Exchange)YesCommon SharesUSUSDNov 1993
MSADB (Deutsche Boerse AG)YesCommon SharesDEEURNov 1993

Biography

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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 23:40
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.