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M/I Homes, Inc. and subsidiaries is one of the nation s leading builders of single-family homes. The Company commenced homebuilding activities in 1976 marking 2026 as our 50th year in business.
$149.53
$3.39 (-2.22%)
EOD Jul 17, 2026
11.47% operating margin is respectable but not wide. ROIC at 12.32%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 1.9% YoY. Margins deteriorated 4.2pp alongside, both lines moving the wrong way.
Free cash flow declined 25% versus the prior year, cash generation momentum has weakened. ROIC dropped from 19.26% to 12.32%, capital efficiency is deteriorating.
11.2x earnings, 19.9x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$4.36B
▼ -1.9% YoY
Net Income (TTM)
$360M
▼ -28.5% YoY
Op. Margin
10.35%
▼ -4.2pp YoY
ROIC
10.67%
▼ -6.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$200M
▼ -25.4% YoY
Op. Cash Flow (TTM)
$208M
▼ -23.6% YoY
Net Debt
-$713M
Net Cash Position
Cash & Equiv.
$767M
5Y CAGR: +7.7%
5Y CAGR: -4.0%
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At a P/E of 11.2 and a price-to-free-cash-flow of 19.9, M/I Homes (MHO) trades around a two-stage DCF intrinsic value of about $168.72 per share, so at $149.53 the stock looks around fair value (12.8% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, M/I Homes scores 56/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $168.72 per share for MHO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $126.54. At today's $149.53, that puts the stock about 12.8% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
M/I Homes scores 56 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 10.4% operating margin and a 10.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. MHO currently trades around its estimated intrinsic value and scores 56/100 on quality (mixed). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.