M/I Homes, Inc. (MHO) Income Statement
MHO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMHO revenue and net income
Where MHO's revenue goes
2025Each bar shows an amount and its share of revenue. MHO kept 9.1% of revenue as net income.
MHO profit margins
MHO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.9% | +2.3% | +7.7% | +12.0% |
| Gross profit | −15.2% | −0.9% | +8.2% | +13.0% |
| Operating income | −28.3% | −7.4% | +9.1% | +15.9% |
| Net income | −28.5% | −6.4% | +10.9% | +22.8% |
| EPS (diluted) | −25.4% | −6.1% | +11.8% | +23.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MHO quarterly EPS vs estimates
M/I Homes beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: October 21, 2026 (estimate $3.05).
MHO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.42B | $4.50B | $4.03B | $4.13B | $3.75B | $3.05B | $2.50B | $2.29B | $1.96B | $1.69B |
| Cost of revenue | $3.40B | $3.31B | $3.01B | $3.09B | $2.84B | $2.36B | $2.01B | $1.84B | $1.57B | $1.36B |
| Gross profit | $1.02B | $1.20B | $1.01B | $1.04B | $908.9M | $684.8M | $494.6M | $443.8M | $393.3M | $329.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $510.6M | $492.8M | $431.7M | $406.4M | $390.6M | $357.1M | $302.3M | $280.6M | $254.6M | $220.4M |
| Total operating expenses | $510.6M | $492.8M | $431.7M | $406.4M | $390.6M | $684.8M | $302.3M | $280.6M | $254.6M | $220.4M |
| Operating income | $506.6M | $706.3M | $581.8M | $637.5M | $518.3M | $328.3M | $192.2M | $163.2M | $146.3M | $112.7M |
| Interest income | $20.0M | $27.5M | $20.1M | $2.2M | $110,000 | $9.2M | $21.1M | $20.2M | $18.3M | $17.0M |
| Interest expense | $20.0M | $27.5M | $35.8M | $2.2M | $2.2M | $9.7M | $21.4M | $20.5M | $18.9M | $17.6M |
| Income before taxes | $526.6M | $733.6M | $607.3M | $635.2M | $509.1M | $310.0M | $166.0M | $141.3M | $120.3M | $91.8M |
| Income taxes | $123.6M | $169.9M | $141.9M | $144.5M | $112.2M | $70.2M | $38.4M | $33.6M | $48.2M | $35.2M |
| Net income | $402.9M | $563.7M | $465.4M | $490.7M | $396.9M | $239.9M | $127.6M | $107.7M | $72.1M | $56.6M |
| EBITDA | $563.3M | $749.1M | $621.8M | $652.1M | $525.6M | $334.8M | $200.6M | $182.6M | $154.3M | $120.8M |
| EPS (diluted) | $14.71 | $19.71 | $16.24 | $17.77 | $13.53 | $8.44 | $4.61 | $4.05 | $2.82 | $2.17 |
| Gross margin | 23.0% | 26.6% | 25.2% | 25.3% | 24.3% | 22.5% | 19.8% | 19.4% | 20.0% | 19.5% |
| Operating margin | 11.5% | 15.7% | 14.4% | 15.4% | 13.8% | 10.8% | 7.7% | 7.1% | 7.5% | 6.7% |
| Net margin | 9.1% | 12.5% | 11.6% | 11.9% | 10.6% | 7.9% | 5.1% | 4.7% | 3.7% | 3.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.06B | $920.7M | $1.15B | $1.13B | $1.16B | $973.4M | $1.21B | $1.14B | $1.11B | $1.05B | $972.6M | $1.05B |
| Cost of revenue | $827.8M | $718.1M | $939.6M | $859.0M | $876.0M | $723.3M | $908.5M | $833.5M | $800.5M | $763.4M | $728.2M | $764.6M |
| Gross profit | $235.5M | $202.6M | $207.7M | $272.7M | $286.6M | $250.1M | $296.8M | $306.6M | $308.7M | $283.3M | $244.4M | $281.7M |
| Sales, general & admin | $134.2M | $116.5M | $133.1M | $134.8M | $130.9M | $111.9M | $132.8M | $127.4M | $122.5M | $110.0M | $114.5M | $109.6M |
| Total operating expenses | $134.2M | $116.5M | $133.1M | $134.7M | $130.9M | $111.9M | $132.8M | $127.4M | $122.5M | $110.0M | $114.5M | $109.6M |
| Operating income | $101.3M | $86.1M | $74.6M | $138.0M | $155.7M | $138.2M | $164.0M | $179.1M | $186.2M | $173.3M | $129.8M | $172.1M |
| Interest income | — | — | $5.9M | $4.5M | $4.4M | $5.2M | $6.6M | $6.7M | — | — | — | $5.8M |
| Interest expense | $3.3M | — | $53.3M | $23.7M | $4.4M | $5.2M | $6.6M | $6.7M | $7.3M | $6.9M | $8.9M | $5.8M |
| Income before taxes | $104.6M | $89.2M | $80.6M | $139.8M | $160.1M | $146.1M | $170.6M | $188.7M | $194.1M | $180.2M | $138.0M | $178.0M |
| Income taxes | $25.5M | $21.3M | $16.6M | $33.3M | $38.9M | $34.9M | $37.1M | $43.2M | $47.4M | $42.2M | $32.7M | $38.9M |
| Net income | $79.1M | $67.8M | $64.0M | $106.5M | $121.2M | $111.2M | $133.5M | $145.4M | $146.7M | $138.1M | $105.3M | $139.0M |
| EBITDA | $112.3M | $93.6M | $138.2M | $167.8M | $164.2M | $150.1M | $174.5M | $192.7M | $197.9M | $183.9M | $141.6M | $181.5M |
| EPS (diluted) | $3.14 | $2.55 | $2.39 | $3.92 | $4.42 | $3.98 | $4.71 | $5.10 | $5.12 | $4.78 | $3.66 | $4.82 |
| Gross margin | 22.1% | 22.0% | 18.1% | 24.1% | 24.7% | 25.7% | 24.6% | 26.9% | 27.8% | 27.1% | 25.1% | 26.9% |
| Operating margin | 9.5% | 9.3% | 6.5% | 12.2% | 13.4% | 14.2% | 13.6% | 15.7% | 16.8% | 16.6% | 13.4% | 16.5% |
| Net margin | 7.4% | 7.4% | 5.6% | 9.4% | 10.4% | 11.4% | 11.1% | 12.8% | 13.2% | 13.2% | 10.8% | 13.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MHO's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MHO financial results
In fiscal year 2025 (ended December 31, 2025), M/I Homes reported revenue of $4.4 billion, down 1.9% from the year before. It had net income of $402.9 million (down 28.5%), a net profit margin of 9.1%. Diluted earnings per share came to $14.71. Over five years revenue grew at an average rate of 7.7% a year.
See the MHO stock overview for the latest quote and news, or the MHO chart for price history and technical indicators.
MHO income statement FAQ
What is M/I Homes's annual revenue?
M/I Homes reported total revenue of $4.4 billion for fiscal year 2025, which ended on December 31, 2025. That was down 1.9% from $4.5 billion the previous year.
Is M/I Homes profitable?
Yes. M/I Homes reported net income of $402.9 million in fiscal 2025, a net profit margin of 9.1%; its operating margin was 11.5%.
What is M/I Homes's gross margin?
M/I Homes's gross margin was 23.0% in fiscal 2025: for every $100 of revenue, M/I Homes kept $23 after the direct cost of its products and services.
How fast is M/I Homes growing?
Revenue grew 7.7% a year on average over the last five fiscal years, from $3.0 billion to $4.4 billion.
What are M/I Homes's earnings per share?
M/I Homes earned $14.71 per diluted share in fiscal 2025, compared with $19.71 a year earlier.
When will M/I Homes report its next earnings?
M/I Homes is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 before the market opens.
When does M/I Homes's fiscal year end?
M/I Homes's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.