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M/I Homes MHO Southern Homebuilding — Operating Income

Other geography segments

Northern Homebuilding
$42.92M-29.2%
Financial Service
$16.72M-10.9%

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Other financials

Income statement

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Revenue$1.1B-8.5%
Gross profit$235.5M-17.8%
Net income$79.1M-34.8%
EPS (diluted)$0.12-97.3%

Balance sheet

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Cash & equivalents$735.9M-8.1%
Total debt$949.3M+1,537%
Total equity$3.2B+4.7%
Total assets$4.9B+2.4%

Cash flow

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Operating cash flow$36.8M-2.5%
CapEx$154.0K-88.5%
Free cash flow$135.6M+113%

Valuation

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Market cap$3.71B+8.6%
Enterprise value$3.03B+46.8%
P/E11.7×+5.0×
P/S0.9×+0.1×

Profitability

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Gross margin21.5%-4.0pp
Net margin7.4%-4.0pp
FCF margin5.4%—

Returns & leverage

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Return on equity10.1%-7.5pp
Debt / equity0.3×+0.3×

Where this comes from

Reported directly by M/I Homes in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: M/I Homes’s 10-Q, filed April 24, 2026.

Filed
Apr 24, 2026, 11:12 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000799292-26-000017
(In thousands)Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Total selling expense$55,340$52,786
Operating income:
Northern homebuilding$42,923$60,592
Southern homebuilding45,89180,431
Financial services (a)16,72418,767
Segment operating income$105,538$159,790
Corporate selling, general and administrative expense(19,473)(18,866)
Total operating income$86,065$140,924

Item 6. Exhibits [42](#i5b32b39a8529406f9be4b5921b543fe1_184)

FAQ

What is M/I Homes's southern homebuilding — operating income?
M/I Homes (MHO) reported southern homebuilding — operating income of $45.89M in Q1 2026.
How has M/I Homes's southern homebuilding — operating income changed year-over-year?
M/I Homes's southern homebuilding — operating income decreased by 42.9% year-over-year, from $80.43M to $45.89M.
What is the long-term trend for M/I Homes's southern homebuilding — operating income?
Over 4 years (2021 to 2025), M/I Homes's southern homebuilding — operating income has grown at a -5.4% compound annual growth rate (CAGR), from $312.66M to $249.97M.
What does southern homebuilding — operating income mean?
Measures the profitability of the Southern homebuilding segment after deducting operating expenses from total revenues. It is a critical indicator of the operational health and regional competitive advantage of the homebuilding business.

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