M/I HOMES, INC. (MHO) FY2025 10-K Annual Report
M/I HOMES, INC. (MHO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 13, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
M/I HOMES, INC. FY2025 10-K Analysis
Business Overview
- • Core business: design, construct, market, and sell single-family homes and townhomes, plus ancillary mortgage and title services
- • New emphasis on inventory homes with 68% of 2025 deliveries as inventory, up from 60% in 2024, supporting Ready Now Homes program for faster closings
Management Discussion & Analysis
- • Revenue $4.29B, net income $369M, net income declined $160.8M YoY, home deliveries 8,921 units down from prior year
- • Operating margin impacted by increased land and housing costs of $3.35B and SG&A of $452M, net income margin approx. 8.6% on $4.29B revenue
Risk Factors
- • Regulatory risk: Warranty claims in Florida—$11.2M warranty charges for attic ventilation issues in two Florida communities impacting reserves
- • Macroeconomic threat: Elevated mortgage rates contributed to 4% decrease in new contracts and 2% revenue decline to $4.4B in 2025
M/I HOMES, INC. FY2025 Key Financial MetricsXBRL
Revenue
$4.4B
▼ -1.9% YoY
Net Income
$403M
▼ -28.5% YoY
Operating Margin
11.5%
▼ -421bp YoY
Net Margin
9.1%
▼ -339bp YoY
ROE
12.7%
▼ -645bp YoY
Total Assets
$4.8B
▲ +5.0% YoY
EPS (Diluted)
$14.74
▼ -25.2% YoY
Operating Cash Flow
$137M
▼ -23.6% YoY
Source: XBRL data from M/I HOMES, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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