MHOM/I Homes, Inc.
Is the business good?
More warning than reassurance: thin cash backing (0.7×) and margins compressing.
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is improving vs a year ago.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
A balanced mix of margins, efficiency, and leverage. ROE 12% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is MHO?
M/I Homes, Inc. earns 13% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 3.6 points above what the capital costs: growth creates value
- Operating margin
- 9.3%
Operating margin · Residential Construction median 9.3% · 12 months to Q2 2026
- Cash conversion
- 0.68×
Cash conversion · 0.28× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- −4.4%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 10% |
| FY2021 | 14% |
| FY2022 | 15% |
| FY2023 | 15% |
| FY2024 | 16% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q2 2026
- 21%
- Operating margin12 months to Q2 2026
- 9.3%
- Net margin12 months to Q2 2026
- 7.4%
- Free cash flow margin
- 4.6%
- Revenue, trailing twelve months
- $4.26B
- Free cash flow, trailing twelve months
- $196M
- Net income, trailing twelve months
- $317M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Residential Construction
Ranks #4 of 13 by RyuScore