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M/I Homes MHO Impairment Of Real Estate

Impairment Of Real Estate at other companies

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Meritage HomesMTH

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$3.84B+12.4%
Enterprise value$3.16B+51.5%
P/E12.1×+5.4×
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:ImpairmentOfRealEstate.

The source filing: M/I Homes’s 10-K, filed February 13, 2026.

Filed
Feb 13, 2026, 1:46 PM EST
Fiscal year
FY2025
Accession
0000799292-26-000006
(In thousands, except per share amounts)Year Ended / 2025Year Ended / 2024Year Ended / 2023
Revenue$4,417,781$4,504,670$4,033,502
Costs and expenses:
Land and housing$3,352,913$3,305,781$3,014,573
Impairment of inventory and land deposit write-offs47,669
General and administrative262,766258,422222,765
Selling247,880234,373208,942
Other income(33)
Interest (income) expense - net(20,035)(27,514)(20,022)

Item 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is M/I Homes's impairment of real estate?
M/I Homes (MHO) reported impairment of real estate of $11.92M in Q4 2025.
What does impairment of real estate mean?
This reflects non-cash charges recognized when the carrying value of real estate assets or inventory exceeds their estimated fair value. It serves as a critical indicator of potential overvaluation in the land portfolio or adverse shifts in regional housing market demand. High levels of impairment suggest poor capital allocation or deteriorating market conditions for the company's land holdings.

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