M/I Homes, Inc.MHO
What M/I Homes, Inc. does.
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. Since that time, the Company has sold over 168,200 homes. Unless this Form 10-K otherwise indicates or the context otherwise requires, the terms the “Company,” “we,” “us” and “our” refer to M/I Homes, Inc. and its subsidiaries.
The Company consists of two distinct operations: homebuilding and financial services. Our homebuilding operations are aggregated for reporting purposes into two reporting segments - the Northern and Southern regions. Our financial services operations support our homebuilding operations by providing mortgage loans and title services to the customers of our homebuilding operations and are reported as an independent segment.
Our homebuilding operations comprise the most significant portion of our business, representing 97% of consolidated revenue in 2025 and 2024. We design, market, construct and sell single-family homes and attached townhomes to first-time, move-up, empty-nester, and luxury buyers. In addition to home sales, our homebuilding operations generate revenue from the sale of land and lots. We use the term “home” to refer to a single-family residence, whether it is a single-family home or an attached home. We use the term “community” to refer to a single development in which we construct homes. At times, “multiple communities” can exist in a single development where we offer multiple product types. We primarily construct homes in planned development communities and mixed-use communities. As of December 31, 2025, we offered homes for sale in 232 communities located in ten states and operated within 17 markets. Our average sales price of homes delivered during 2025 was $479,000, and the average sales price of our homes in backlog at December 31, 2025 was $547,000. We offer homes ranging from a base sales price of approximately $190,000 to $1,250,000 and believe that this range of price points allows us to appeal to and attract a wide range of buyers. We believe that we distinguish ourselves from competitors by offering homes in select areas with a high level of design and construction quality, providing superior customer service and offering mortgage and title services to fully serve our customers. In our experience, our product offerings and customer service make the homebuying process more efficient for our customers.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $3.0B | $3.7B | $4.1B | $4.0B | $4.5B | $4.4B |
| Net income | $239.9M | $396.9M | $490.7M | $465.4M | $563.7M | $402.9M |
| Free cash flow | $156.7M | -$42.1M | $174.7M | $546.4M | $171.3M | $127.7M |
More on MHO.
- M/I Homes, Inc. summary
- M/I Homes, Inc. financial statements
- M/I Homes, Inc. key metrics
- M/I Homes, Inc. health scores and style box
- M/I Homes, Inc. earnings
- M/I Homes, Inc. dividends
- M/I Homes, Inc. valuation
- M/I Homes, Inc. ownership and insiders
- M/I Homes, Inc. peers
Figures from M/I Homes, Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.