M/I Homes Reports Decrease in Revenue and Net Income

By Chris Stiles • Wednesday, January 28 11:53 • Permanent Link

M/I Homes, Inc. (NYSE:MHO) has released its fourth-quarter and year-end results for 2025. The company reported a 9% increase in new contracts for the fourth quarter, reaching 1,921, while homes delivered decreased by 4% to 2,301. Revenue declined by 5% to $1.1 billion, with pre-tax income of $81 million, including charges of $51 million, consisting of $40 million of inventory charges and $11 million of certain warranty charges. The gross margin was reported at 18.1%, or 22.6% excluding charges. Net income for the quarter was $64 million, or $2.39 per diluted share, compared to $134 million, or $4.71 per diluted share, in the same period of 2024.

For the full year, new contracts decreased by 4% to 8,199, and homes delivered decreased by 1% to 8,921. Revenue for the year decreased by 2% to $4.4 billion, with pre-tax income of $527 million, including charges of $59 million. Net income for the year was $403 million, or $14.74 per diluted share, compared to $563.7 million, or $19.71 per diluted share, in 2024.

The company reported a record shareholders’ equity of $3.2 billion, with a book value per share of $123. M/I Homes also repurchased $202 million of stock during the year. Return on equity was reported at 13%, with a homebuilding debt to capital ratio of 18%.

The CEO and President, Robert H. Schottenstein, highlighted the company's performance, stating that 2025 was a solid year for M/I Homes. He emphasized the company's financial condition, including its record shareholders’ equity and strong cash position.

Looking ahead, Schottenstein expressed confidence in the long-term fundamentals of the industry and the company’s ability to deliver strong results. 2026 marks M/I Homes' 50th year in business, and Schottenstein noted the company's growth and focus on quality and customer service over the past five decades.

M/I Homes, Inc. is a leading homebuilder with operations in multiple states across the U.S., celebrating its 50th year in business in 2026. As a result of these announcements, the company's shares have moved -1.32% on the market, and are now trading at a price of $137.16. For the full picture, make sure to review M/I HOMES, INC.'s 8-K report.

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