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Meritage Homes CORP (MTH) filed its fiscal 2025 10-K annual report with the SEC on Feb 13, 2026.

Top risk flagged: Cybersecurity risk oversight led by CIO with 30+ years experience, reporting biannually to Audit Committee on controls and benchmarks

FY2025 key financial metrics · XBRL

Source: XBRL data from the Meritage Homes CORP (MTH) FY2025 10-K on SEC EDGAR. USD.

AI summary of each section, grounded in the filing text

Core business: Designer and builder of single-family homes with financial services (title, escrow, mortgage, insurance) across 12 states in West, Central, East US regions
New strategic shift: Launched 60-day closing ready guarantee in 2025 with move-in ready homes and external realtor engagement to better compete with resale market
Notable metric: Home closing revenue $5.8B in 2025, down 9.1% YoY; closed 15,026 homes; invested $1.9B in land acquisition and development, securing 5,500 lots vs 37,000 in 2024
Operational change: Shortened construction cycle below 110 days from 120, supported by all-spec home building, improved supply chain, and cost efficiencies
Unique fact: Declared two-for-one stock split effective January 2, 2025; recognized $39.4M charges for terminated land contracts and $8.4M severance in 2025 due to portfolio optimization

Revenue $5.76B, down 9.1% YoY from $6.34B; closings fell 3.7% to 15,026 units with 5.6% decrease in ASP to $383.6K
Home closing gross margin 19.7% vs 24.9% in 2024; adjusted margin 20.8% vs 25.0% excluding land termination and impairments
West segment worst performer: revenue $1.83B down 17.7%, closings down 15.6%, ASP down 2.6%; East segment best performer: revenue flat (-0.2%) at $2.10B, closings up 6.9%
Cash allocation includes $39.4M land termination charges, $8.4M severance costs; G&A costs down $19.1M to $211.8M; liquidity strong with 26.0% debt-to-capital and $500M senior notes issued
Management outlook: focus on affordable move-in ready homes, cycle time reduction; risks include affordability pressures, rising land costs, higher cancellation rates at 11% vs 9% prior year

Cybersecurity risk oversight led by CIO with 30+ years experience, reporting biannually to Audit Committee on controls and benchmarks
No specific regulatory or legal risk, competitive threat, supply chain vulnerability, geopolitical exposure, or financial risk detailed in text

Generated from the filing text; verify against the original. How to read a 10-K

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