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

Undervalued with proven track record.


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

-1.9%

MHO

0.7%

US Consumer Durables

1.3%

US Market


1 Year Return

66.6%

MHO

33.5%

US Consumer Durables

5.9%

US Market

Return vs Industry: MHO exceeded the US Consumer Durables industry which returned 33.5% over the past year.

Return vs Market: MHO exceeded the US Market which returned 5.9% over the past year.


Shareholder returns

MHOIndustryMarket
7 Day-1.9%0.7%1.3%
30 Day-0.4%0.3%-1.9%
90 Day23.9%4.8%-1.8%
1 Year66.6%66.6%35.3%33.5%8.3%5.9%
3 Year58.6%58.6%50.0%45.4%45.6%36.2%
5 Year73.8%73.8%38.9%30.4%66.1%47.9%

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 compared to its fair value and its price relative to the market?

41.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: MHO ($37.08) is trading below our estimate of fair value ($63.45)

Significantly Undervalued: 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 (9.4x) compared to the Consumer Durables industry average (13.2x).

PE vs Market: MHO is good value based on its PE Ratio (9.4x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: MHO is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: MHO is good value based on its PB Ratio (1.1x) compared to the US Consumer Durables industry average (1.6x).


Next Steps

Future Growth

How is M/I Homes forecast 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 Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MHO's forecast earnings growth (9.3% per year) is above the savings rate (2.7%).

Earnings vs Market: MHO's earnings (9.3% per year) are forecast to grow slower than the US market (14.4% per year).

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

Revenue vs Market: MHO's revenue (4.9% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: MHO's revenue (4.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


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

Earnings Trend: MHO's earnings have grown by 10.4% per year over the past 5 years.

Accelerating Growth: MHO's earnings growth over the past year (35.9%) exceeds its 5-year average (10.4% per year).

Earnings vs Industry: MHO earnings growth over the past year (35.9%) exceeded the Consumer Durables industry 13.5%.


Return on Equity

High ROE: MHO's Return on Equity (12.1%) is considered low.


Return on Assets

ROA vs Industry: MHO's Return on Assets is below or equal to the Consumer Durables industry average last year.


Return on Capital Employed

ROCE Improving: MHO has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is M/I Homes's financial position?


Financial Position Analysis

Short Term Liabilities: MHO's short term assets ($1.9B) exceeds its short term liabilities ($298.8M)

Long Term Liabilities: MHO's short term assets (1.9B) exceeds its long term liabilities (886.2M)


Debt to Equity History and Analysis

Debt Level: MHO's debt to equity ratio (91.6%) is considered high

Reducing Debt: MHO's debt to equity ratio has increased from 84.9% to 91.6% over the past 5 years.

Debt Coverage: MHO's debt is not well covered by operating cash flow (3.5%).

Interest Coverage: MHO's interest payments on its debt are well covered by EBIT (9.6x coverage).


Balance Sheet

Inventory Level: MHO has a high level of physical assets or inventory.

Debt Coverage by Assets: MHO's debt is covered by short term assets (assets are 2.304020x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.5%markettop25%3.8%industryaverage2.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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: MHO is not paying a notable dividend for .


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

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

15.8yrs

Average management tenure


CEO

Bob Schottenstein (66yo)

15.8yrs

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

Compensation vs. Market: Bob's total compensation ($USD5.25M) is about average for companies of similar size in the US market ($USD2.76M).

Compensation vs Earnings: Bob's compensation has been consistent with company performance over the past year.


Management Age and Tenure

15.8yrs

Average Tenure

62yo

Average Age

Experienced Management: MHO's management team is seasoned and experienced (15.8 years average tenure).


Board Age and Tenure

7.4yrs

Average Tenure

65yo

Average Age

Experienced Board: MHO's board of directors are considered experienced (7.4 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


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: 15.8yrs
    • Compensation: US$5.25m
  • Phillip Creek (66yo)

    Executive VP

    • Tenure: 17.8yrs
    • Compensation: US$2.75m
  • Kevin Hake (60yo)

    Senior VP of Finance & Business Development and Treasurer

    • Tenure: 0yrs
  • Tom Mason (62yo)

    Executive VP

    • Tenure: 12.9yrs
    • Compensation: US$1.89m
  • Paul Rosen (68yo)

    Senior Vice President

    • Tenure: 20.7yrs
  • Ann Marie Hunker

    VP & Corporate Controller

    • Tenure: 16.5yrs
  • Tom Jacobs (53yo)

    Region President

    • Tenure: 3.8yrs
  • Fred Sikorski (64yo)

    Region President of Columbus

    • Tenure: 3.5yrs
  • Ronald Martin (50yo)

    Region President of Detroit Division

    • Tenure: 3.3yrs
  • Derek Klutch (55yo)

    President & CEO of M/I Financial

    • Tenure: 2.9yrs

Board Members

  • Bill Carter (65yo)

    Independent Director

    • Tenure: 7.4yrs
    • Compensation: US$218.47k
  • Bob Schottenstein (66yo)

    Chairman

    • Tenure: 15.8yrs
    • Compensation: US$5.25m
  • Michael Glimcher (51yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$183.47k
  • Phillip Creek (66yo)

    Executive VP

    • Tenure: 17.8yrs
    • Compensation: US$2.75m
  • Friedl Böhm (77yo)

    Lead Independent Director

    • Tenure: 5.9yrs
    • Compensation: US$223.47k
  • Norman Traeger (79yo)

    Independent Director

    • Tenure: 22.8yrs
    • Compensation: US$198.47k
  • Nancy Kramer (63yo)

    Independent director

    • Tenure: 4.3yrs
    • Compensation: US$183.47k
  • Tom Mason (62yo)

    Executive VP

    • Tenure: 12.9yrs
    • Compensation: US$1.89m
  • Lisa Ingram (48yo)

    Independent Director

    • Tenure: 0.7yrs

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$1.024b
  • 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 Analysis2019/10/14 23:36
End of Day Share Price2019/10/14 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.