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Meritage Homes (MTH) Financials

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$63.66 -0.02 (-0.03%)
As of 01:05 PM Eastern
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Annual Income Statements for Meritage Homes

Annual Income Statements for Meritage Homes

This table shows Meritage Homes' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders
786 739 992 737 423 250 227 143 169 129
Consolidated Net Income / (Loss)
786 739 992 737 423 250 227 143 169 129
Net Income / (Loss) Continuing Operations
786 739 992 737 423 250 227 143 169 129
Total Pre-Tax Income
1,003 949 1,289 955 534 303 283 248 218 189
Total Operating Income
958 902 1,287 968 529 307 274 245 199 206
Total Gross Profit
1,598 1,519 1,803 1,435 976 700 654 591 553 489
Total Revenue
6,393 6,138 6,298 5,147 4,501 3,678 3,545 3,257 3,042 2,593
Operating Revenue
6,395 6,138 6,292 5,141 4,501 3,667 3,529 3,227 3,042 2,579
Other Revenue
-2.10 -0.66 5.95 6.01 5.09 11 16 30 - 13
Total Cost of Revenue
4,795 4,619 4,495 3,712 3,530 2,978 2,891 2,666 2,504 2,085
Operating Cost of Revenue
4,795 4,619 4,495 3,712 3,530 2,978 2,891 2,666 2,504 2,085
Total Operating Expenses
640 617 516 467 447 393 380 346 339 302
Selling, General & Admin Expense
231 232 193 181 159 146 138 124 124 113
Marketing Expense
409 385 323 285 288 247 242 222 215 188
Total Other Income / (Expense), net
45 47 2.67 -14 4.49 -4.43 10 4.93 38 -17
Interest Expense
0.63 0.91 0.04 19 2.18 14 0.79 3.85 5.17 16
Other Income / (Expense), net
45 48 2.71 4.86 6.66 9.58 11 8.78 4.95 -0.95
Income Tax Expense
217 211 297 217 110 53 56 104 69 61
Basic Earnings per Share
$10.85 $10.09 $13.52 $19.61 $11.23 $6.55 $5.67 $3.56 $3.74 $3.25
Weighted Average Basic Shares Outstanding
72.48M 73.24M 73.39M 37.61M 37.72M 38.10M 40.11M 40.29M 39.98M 39.59M
Diluted Earnings per Share
$10.72 $9.96 $13.37 $19.29 $11.00 $6.42 $5.58 $3.41 $3.55 $3.09
Weighted Average Diluted Shares Outstanding
73.33M 74.14M 74.20M 38.23M 38.48M 38.89M 40.73M 42.23M 42.59M 42.16M
Weighted Average Basic & Diluted Shares Outstanding
71.77M 36.17M 36.57M 36.94M 37.51M 38.13M 40.10M 40.20M 40M 39.60M
Cash Dividends to Common per Share
$1.50 - - - - - - - - -

Quarterly Income Statements for Meritage Homes

This table shows Meritage Homes' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
123 173 196 232 186 199 222 187 131 262 262
Consolidated Net Income / (Loss)
123 173 196 232 186 199 222 187 131 262 262
Net Income / (Loss) Continuing Operations
123 173 196 232 186 199 222 187 131 262 262
Total Pre-Tax Income
160 222 250 297 234 259 286 240 165 342 329
Total Operating Income
151 208 239 286 225 246 273 227 156 339 330
Total Gross Profit
302 380 396 444 377 422 436 375 287 506 456
Total Revenue
1,365 1,624 1,595 1,702 1,471 1,663 1,622 1,568 1,285 2,001 1,586
Operating Revenue
1,365 1,622 1,597 1,702 1,475 1,660 1,619 1,574 1,285 1,999 1,584
Other Revenue
0.67 2.76 -1.26 0.45 -4.04 2.42 2.46 -5.80 0.26 1.92 1.34
Total Cost of Revenue
1,063 1,244 1,199 1,258 1,093 1,241 1,186 1,193 998 1,495 1,130
Operating Cost of Revenue
1,063 1,244 1,199 1,258 1,093 1,241 1,186 1,193 998 1,495 1,130
Total Operating Expenses
152 173 157 158 152 176 162 148 130 167 126
Selling, General & Admin Expense
57 68 59 53 51 69 63 52 48 57 48
Marketing Expense
95 105 98 105 102 107 99 96 83 110 78
Total Other Income / (Expense), net
9.50 14 11 11 9.02 13 12 13 8.84 3.56 -0.07
Interest Expense
0.00 - 0.00 0.63 0.00 - 0.91 0.00 0.00 - 0.00
Other Income / (Expense), net
9.50 14 11 11 9.02 13 13 13 8.84 3.56 -0.07
Income Tax Expense
37 49 54 66 48 60 64 53 34 80 67
Basic Earnings per Share
$1.71 $2.38 $5.41 $6.38 $5.12 $2.72 $6.06 $5.08 $3.58 $3.58 $7.18
Weighted Average Basic Shares Outstanding
71.92M 72.48M 36.23M 36.32M 36.31M 73.24M 36.60M 36.77M 36.66M 73.39M 36.57M
Diluted Earnings per Share
$1.69 $2.38 $5.34 $6.31 $5.06 $2.72 $5.98 $5.02 $3.54 $3.58 $7.10
Weighted Average Diluted Shares Outstanding
72.65M 73.33M 36.67M 36.72M 36.78M 74.14M 37.08M 37.19M 37.12M 74.20M 36.95M
Weighted Average Basic & Diluted Shares Outstanding
71.83M 71.77M 36.18M 36.33M 36.32M 36.17M 36.45M 36.77M 36.77M 36.57M 36.57M
Cash Dividends to Common per Share
$0.43 $0.37 $0.75 $0.75 $0.75 $0.13 $0.27 $0.27 $0.27 - $0.00

Annual Cash Flow Statements for Meritage Homes

This table details how cash moves in and out of Meritage Homes' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents
-270 60 243 -127 426 8.00 141 39 -131 159
Net Cash From Operating Activities
-228 356 405 -152 530 347 262 -87 -103 -3.34
Net Cash From Continuing Operating Activities
-228 356 405 -152 530 347 262 -87 -103 -3.34
Net Income / (Loss) Continuing Operations
786 739 992 737 423 250 227 143 150 129
Consolidated Net Income / (Loss)
786 739 992 737 423 250 227 143 150 129
Depreciation Expense
26 25 25 26 31 28 27 17 16 14
Non-Cash Adjustments To Reconcile Net Income
25 24 22 39 19 27 17 12 13 14
Changes in Operating Assets and Liabilities, net
-1,064 -432 -634 -954 57 42 -9.08 -259 -282 -160
Net Cash From Investing Activities
-44 -44 -32 -27 -18 -13 -34 -17 -20 -16
Net Cash From Continuing Investing Activities
-44 -44 -32 -27 -18 -13 -34 -17 -20 -16
Purchase of Property, Plant & Equipment
-29 -38 -27 -26 -20 -24 -33 -18 -17 -16
Acquisitions
-19 -5.99 -5.80 -1.71 -0.01 -1.11 -0.81 -0.67 -7.24 -0.48
Purchase of Investments
-0.75 -0.75 -1.03 -2.80 -2.49 -0.75 -1.18 -1.40 -0.75 -1.56
Sale of Property, Plant & Equipment
0.26 0.42 0.48 0.55 0.70 0.46 0.10 0.36 0.20 0.09
Sale and/or Maturity of Investments
3.62 0.89 1.03 2.80 3.49 12 1.78 2.74 4.35 1.56
Net Cash From Financing Activities
1.98 -252 -130 52 -86 -325 -88 143 -7.00 179
Net Cash From Continuing Financing Activities
1.98 -252 -130 52 -86 -325 -88 143 -7.00 179
Repayment of Debt
-277 -154 -20 -337 -16 -309 -194 -142 -6.27 -26
Repurchase of Common Equity
-126 -59 -109 -61 -70 -16 -100 0.00 0.00 -
Payment of Dividends
-109 -40 0.00 0.00 - - - - - -
Issuance of Debt
575 0.00 0.00 450 0.00 0.00 206 285 0.00 200
Other Financing Activities, net
-62 0.00 0.00 - - - - - -0.72 4.93

Quarterly Cash Flow Statements for Meritage Homes

This table details how cash moves in and out of Meritage Homes' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
360 -180 -161 88 -16 -128 -114 206 96 562 27
Net Cash From Operating Activities
-43 -100 -92 -118 82 -105 104 231 124 575 37
Net Cash From Continuing Operating Activities
-43 -100 -92 -118 82 -105 104 231 124 575 37
Net Income / (Loss) Continuing Operations
123 173 196 232 186 199 222 187 131 262 262
Consolidated Net Income / (Loss)
123 173 196 232 186 199 222 187 131 262 262
Depreciation Expense
5.95 6.60 6.55 6.77 6.04 7.76 6.38 5.99 5.21 7.20 5.82
Non-Cash Adjustments To Reconcile Net Income
6.29 4.66 9.03 4.86 6.13 5.87 7.03 -5.65 17 5.16 6.74
Changes in Operating Assets and Liabilities, net
-178 -283 -304 -361 -116 -317 -131 44 -29 300 -238
Net Cash From Investing Activities
-11 -13 -12 -12 -7.77 -8.92 -13 -13 -8.73 -7.40 -6.63
Net Cash From Continuing Investing Activities
-11 -13 -12 -12 -7.77 -8.92 -13 -13 -8.73 -7.40 -6.63
Purchase of Property, Plant & Equipment
-5.59 -7.48 -8.02 -6.90 -6.26 -6.97 -10 -12 -8.90 -7.43 -6.69
Acquisitions
-5.85 -8.10 -3.83 -5.03 -1.59 -2.13 -2.58 -1.28 0.00 -0.12 -0.02
Sale of Property, Plant & Equipment
0.03 0.08 0.05 0.05 0.08 0.09 0.11 0.10 0.13 0.15 0.08
Net Cash From Financing Activities
414 -68 -58 217 -90 -14 -206 -12 -20 -5.50 -3.15
Net Cash From Continuing Financing Activities
414 -68 -58 217 -90 -14 -206 -12 -20 -5.50 -3.15
Repayment of Debt
-7.22 -0.83 -0.43 -269 -6.92 -0.18 -151 -2.04 -0.17 -5.50 -3.15
Repurchase of Common Equity
-45 -40 -30 - -56 -4.07 -45 - -10 - -
Payment of Dividends
-31 -27 -27 -27 -27 -9.84 -9.84 -9.93 -9.93 - -
Issuance of Debt
497 - - - - - - - - - -

Annual Balance Sheets for Meritage Homes

This table presents Meritage Homes' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets
7,163 6,353 5,772 4,808 3,864 3,398 3,365 3,251 2,889 2,680
Total Current Assets
6,840 6,128 5,600 4,625 3,726 3,266 3,216 3,067 2,700 2,487
Cash & Equivalents
652 921 862 618 746 319 311 171 132 262
Accounts Receivable
256 267 215 148 99 88 77 79 70 57
Inventories, net
5,729 4,721 4,358 3,734 2,778 2,744 2,743 2,731 2,422 2,098
Prepaid Expenses
203 219 165 125 103 114 84 85 75 70
Plant, Property, & Equipment, net
47 49 39 37 39 51 55 72 33 34
Total Noncurrent Assets
276 176 134 137 100 81 95 112 156 158
Long-Term Investments
29 17 12 5.76 4.35 4.44 17 17 17 11
Noncurrent Deferred & Refundable Income Taxes
55 48 45 41 36 26 26 35 53 59
Other Noncurrent Operating Assets
192 111 77 91 60 51 51 60 86 88
Total Liabilities & Shareholders' Equity
7,163 6,353 5,772 4,808 3,864 3,398 3,365 3,251 2,889 2,680
Total Liabilities
2,021 1,741 1,822 1,763 1,517 1,424 1,645 1,674 1,467 1,421
Total Current Liabilities
685 733 672 553 496 405 335 356 340 304
Accounts Payable
212 272 273 216 175 155 128 141 141 106
Accrued Expenses
452 425 361 337 296 226 178 181 171 161
Other Current Liabilities
21 37 38 - 25 24 29 - - -
Total Noncurrent Liabilities
1,336 1,008 1,151 1,210 1,020 1,019 1,310 1,319 1,127 1,117
Long-Term Debt
1,307 995 1,144 1,142 997 996 1,295 1,266 1,095 1,093
Other Noncurrent Operating Liabilities
29 14 7.06 67 23 23 15 52 32 24
Total Equity & Noncontrolling Interests
5,142 4,612 3,950 3,044 2,348 1,974 1,721 1,577 1,421 1,259
Total Preferred & Common Equity
5,142 4,612 3,950 3,044 2,348 1,974 1,721 1,577 1,421 1,259
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
5,142 4,612 3,950 3,044 2,348 1,974 1,721 1,577 1,421 1,259
Common Stock
143 291 328 415 456 506 502 585 573 560
Retained Earnings
4,998 4,321 3,621 2,629 1,892 1,468 1,219 992 849 699

Quarterly Balance Sheets for Meritage Homes

This table presents Meritage Homes' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets
7,700 7,103 6,924 6,489 6,182 6,066 5,871 5,571
Total Current Assets
7,313 6,779 6,637 6,253 5,977 5,890 5,708 5,391
Cash & Equivalents
1,012 832 993 905 1,049 1,163 957 299
Accounts Receivable
262 287 258 243 229 210 209 193
Inventories, net
5,801 5,457 5,175 4,915 4,501 4,349 4,355 4,726
Prepaid Expenses
239 204 211 190 198 168 186 172
Plant, Property, & Equipment, net
47 47 47 48 51 47 42 39
Total Noncurrent Assets
340 277 240 189 154 128 122 141
Long-Term Investments
31 18 24 19 15 12 11 11
Noncurrent Deferred & Refundable Income Taxes
54 51 60 47 46 45 45 41
Other Noncurrent Operating Assets
255 207 157 123 94 71 66 88
Total Liabilities & Shareholders' Equity
7,700 7,103 6,924 6,489 6,182 6,066 5,871 5,571
Total Liabilities
2,505 2,074 2,041 1,769 1,761 1,817 1,804 1,889
Total Current Liabilities
670 759 728 767 755 612 605 734
Accounts Payable
230 287 300 306 294 276 264 322
Accrued Expenses
423 440 389 418 413 336 342 354
Other Current Liabilities
18 32 39 43 48 - - 58
Total Noncurrent Liabilities
1,835 1,314 1,313 1,002 1,005 1,205 1,199 1,156
Long-Term Debt
1,800 1,305 1,304 995 994 1,144 1,144 1,143
Other Noncurrent Operating Liabilities
35 9.31 9.71 6.60 11 61 55 12
Total Equity & Noncontrolling Interests
5,195 5,030 4,883 4,721 4,421 4,248 4,067 3,682
Total Preferred & Common Equity
5,195 5,030 4,883 4,721 4,421 4,248 4,067 3,682
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
5,195 5,030 4,883 4,721 4,421 4,248 4,067 3,682
Common Stock
105 177 199 241 289 329 324 323
Retained Earnings
5,090 4,852 4,684 4,479 4,132 3,920 3,743 3,359

Annual Metrics And Ratios for Meritage Homes

This table displays calculated financial ratios and metrics derived from Meritage Homes' official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
4.16% -2.55% 22.36% 14.35% 22.39% 3.75% 8.84% 7.07% 17.33% 18.35%
EBITDA Growth
5.51% -25.75% 31.47% 76.36% 64.35% 10.54% 15.36% 22.84% 0.23% -2.45%
EBIT Growth
5.59% -26.29% 32.47% 81.68% 69.03% 11.20% 12.33% 24.27% -0.60% -3.82%
NOPAT Growth
7.00% -29.09% 32.37% 78.13% 65.77% 15.27% 55.00% 3.77% -2.56% -0.74%
Net Income Growth
6.42% -25.54% 34.54% 74.14% 69.62% 9.82% 58.69% -15.02% 30.95% -9.49%
EPS Growth
6.42% -25.54% 34.54% 75.36% 71.34% 15.05% 63.64% -3.94% 14.89% -10.69%
Operating Cash Flow Growth
-164.00% -12.26% 366.46% -128.68% 52.92% 32.27% 400.92% 15.73% -3,000.51% 98.42%
Free Cash Flow Firm Growth
-237.23% -21.90% 253.38% -144.97% 60.16% 56.39% 228.97% 4.44% -297.10% 90.08%
Invested Capital Growth
23.56% 10.62% 18.71% 36.99% -1.94% -1.52% 1.19% 12.15% 13.92% 9.40%
Revenue Q/Q Growth
-0.60% -5.22% 8.51% 1.80% 6.29% 3.47% 1.99% 2.63% 2.86% 3.31%
EBITDA Q/Q Growth
-3.60% -7.82% 2.46% 12.87% 14.74% 7.31% 5.49% 12.26% -9.15% 6.59%
EBIT Q/Q Growth
-3.58% -8.07% 2.44% 13.56% 15.68% 7.69% 4.92% 13.12% -10.02% 6.81%
NOPAT Q/Q Growth
-3.49% -9.16% 2.40% 13.06% 10.31% 13.14% 25.16% -1.98% -10.67% 3.07%
Net Income Q/Q Growth
-3.23% -7.92% 2.57% 13.02% 13.72% 12.92% 19.64% -19.77% 11.92% 2.95%
EPS Q/Q Growth
-3.23% -7.92% 2.57% 13.47% 13.17% 14.23% 22.37% -9.79% -1.11% 1.98%
Operating Cash Flow Q/Q Growth
2.13% -65.65% 653.69% -66.35% -4.01% -2.55% 62.91% 32.71% -5.05% 90.43%
Free Cash Flow Firm Q/Q Growth
1.85% -72.87% 322.36% -35.06% -6.61% -2.79% 194.77% 21.91% -18.90% 42.99%
Invested Capital Q/Q Growth
5.16% 7.27% -6.52% 4.51% 0.47% -2.24% -3.53% -0.68% 1.09% 0.85%
Profitability Metrics
- - - - - - - - - -
Gross Margin
25.00% 24.75% 28.63% 27.88% 21.68% 19.04% 18.45% 18.14% 18.18% 18.85%
EBITDA Margin
16.10% 15.90% 20.87% 19.42% 12.59% 9.38% 8.80% 8.30% 7.24% 8.47%
Operating Margin
14.99% 14.70% 20.43% 18.82% 11.75% 8.36% 7.72% 7.52% 6.55% 7.96%
EBIT Margin
15.70% 15.48% 20.47% 18.91% 11.90% 8.62% 8.04% 7.79% 6.71% 7.92%
Profit (Net Income) Margin
12.30% 12.04% 15.75% 14.33% 9.41% 6.79% 6.41% 4.40% 5.54% 4.97%
Tax Burden Percent
78.39% 77.81% 76.95% 77.23% 79.37% 82.41% 80.26% 57.88% 77.31% 67.95%
Interest Burden Percent
99.94% 99.90% 100.00% 98.10% 99.59% 95.58% 99.37% 97.54% 106.79% 92.23%
Effective Tax Rate
21.61% 22.19% 23.05% 22.77% 20.63% 17.59% 19.74% 42.12% 31.42% 32.05%
Return on Invested Capital (ROIC)
14.40% 15.80% 25.47% 24.33% 16.02% 9.50% 8.23% 5.64% 6.15% 7.05%
ROIC Less NNEP Spread (ROIC-NNEP)
24.63% 38.22% 26.00% 21.54% 16.80% 9.05% 8.97% 5.79% 9.76% 5.62%
Return on Net Nonoperating Assets (RNNOA)
1.72% 1.46% 2.90% 3.03% 3.57% 4.02% 5.56% 3.91% 6.43% 3.82%
Return on Equity (ROE)
16.12% 17.26% 28.37% 27.35% 19.60% 13.51% 13.79% 9.56% 12.58% 10.87%
Cash Return on Invested Capital (CROIC)
-6.68% 5.71% 8.36% -6.89% 17.98% 11.03% 7.04% -5.81% -6.87% -1.93%
Operating Return on Assets (OROA)
14.85% 15.68% 24.37% 22.45% 14.75% 9.37% 8.62% 8.27% 7.33% 8.22%
Return on Assets (ROA)
11.63% 12.19% 18.76% 17.01% 11.66% 7.38% 6.87% 4.67% 6.05% 5.15%
Return on Common Equity (ROCE)
16.12% 17.26% 28.37% 27.35% 19.60% 13.51% 13.79% 9.56% 12.58% 10.87%
Return on Equity Simple (ROE_SIMPLE)
15.29% 16.02% 25.12% 24.22% 18.04% 12.65% 13.21% 9.09% 11.86% 10.23%
Net Operating Profit after Tax (NOPAT)
751 702 990 748 420 253 220 142 137 140
NOPAT Margin
11.75% 11.44% 15.72% 14.53% 9.33% 6.89% 6.20% 4.35% 4.49% 5.41%
Net Nonoperating Expense Percent (NNEP)
-10.23% -22.42% -0.53% 2.78% -0.77% 0.45% -0.74% -0.15% -3.62% 1.43%
Return On Investment Capital (ROIC_SIMPLE)
11.65% 12.52% 19.44% - - - - - - -
Cost of Revenue to Revenue
75.00% 75.25% 71.37% 72.12% 78.43% 80.96% 81.55% 81.86% 82.31% 80.41%
SG&A Expenses to Revenue
3.61% 3.78% 3.06% 3.53% 3.53% 3.97% 3.91% 3.81% 4.07% 4.35%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
10.01% 10.05% 8.20% 9.07% 9.93% 10.68% 10.73% 10.61% 11.14% 11.63%
Earnings before Interest and Taxes (EBIT)
1,004 950 1,289 973 536 317 285 254 204 205
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,029 976 1,314 1,000 567 345 312 270 220 220
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
1.08 1.35 0.83 1.47 1.30 1.17 0.84 1.29 0.96 1.05
Price to Tangible Book Value (P/TBV)
1.08 1.35 0.83 1.47 1.30 1.17 0.84 1.29 0.96 1.05
Price to Revenue (P/Rev)
0.87 1.02 0.52 0.87 0.68 0.63 0.41 0.62 0.45 0.51
Price to Earnings (P/E)
7.08 8.45 3.31 6.07 7.23 9.21 6.34 14.16 8.12 10.29
Dividend Yield
3.90% 1.26% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
14.13% 11.84% 30.19% 16.48% 13.83% 10.86% 15.76% 7.06% 12.32% 9.72%
Enterprise Value to Invested Capital (EV/IC)
1.07 1.35 0.84 1.40 1.27 1.12 0.90 1.17 0.98 1.03
Enterprise Value to Revenue (EV/Rev)
0.97 1.03 0.56 0.97 0.73 0.81 0.68 0.95 0.76 0.83
Enterprise Value to EBITDA (EV/EBITDA)
6.01 6.45 2.71 5.00 5.84 8.62 7.72 11.49 10.51 9.76
Enterprise Value to EBIT (EV/EBIT)
6.17 6.63 2.76 5.13 6.17 9.38 8.45 12.25 11.34 10.44
Enterprise Value to NOPAT (EV/NOPAT)
8.24 8.97 3.59 6.68 7.88 11.73 10.96 21.92 16.94 15.29
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 17.71 8.78 0.00 6.24 8.57 9.19 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 24.81 10.94 0.00 7.02 10.10 12.80 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.25 0.22 0.29 0.38 0.42 0.50 0.75 0.80 0.77 0.87
Long-Term Debt to Equity
0.25 0.22 0.29 0.38 0.42 0.50 0.75 0.80 0.77 0.87
Financial Leverage
0.07 0.04 0.11 0.14 0.21 0.44 0.62 0.68 0.66 0.68
Leverage Ratio
1.39 1.42 1.51 1.61 1.68 1.83 2.01 2.05 2.08 2.11
Compound Leverage Factor
1.38 1.41 1.51 1.58 1.67 1.75 1.99 2.00 2.22 1.95
Debt to Total Capital
20.26% 17.74% 22.45% 27.29% 29.81% 33.54% 42.95% 44.54% 43.52% 46.48%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
20.26% 17.74% 22.45% 27.29% 29.81% 33.54% 42.95% 44.54% 43.52% 46.48%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
79.74% 82.26% 77.55% 72.71% 70.19% 66.46% 57.05% 55.46% 56.48% 53.52%
Debt to EBITDA
1.27 1.02 0.87 1.14 1.76 2.89 4.15 4.68 4.97 4.98
Net Debt to EBITDA
0.61 0.06 0.21 0.52 0.44 1.95 3.10 3.99 4.30 3.73
Long-Term Debt to EBITDA
1.27 1.02 0.87 1.14 1.76 2.89 4.15 4.68 4.97 4.98
Debt to NOPAT
1.74 1.42 1.16 1.53 2.37 3.93 5.89 8.93 8.02 7.80
Net Debt to NOPAT
0.83 0.08 0.27 0.69 0.59 2.65 4.40 7.61 6.93 5.84
Long-Term Debt to NOPAT
1.74 1.42 1.16 1.53 2.37 3.93 5.89 8.93 8.02 7.80
Altman Z-Score
5.02 5.58 4.81 5.04 4.52 3.97 3.39 3.41 3.24 3.12
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
9.98 8.36 8.33 8.36 7.50 8.06 9.61 8.62 7.94 8.19
Quick Ratio
1.32 1.62 1.60 1.38 1.70 1.01 1.16 0.70 0.59 1.05
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-348 254 325 -212 471 294 188 -146 -153 -38
Operating Cash Flow to CapEx
-801.44% 941.44% 1,529.90% -605.63% 2,758.13% 1,449.55% 787.01% -491.16% -628.13% -20.84%
Free Cash Flow to Firm to Interest Expense
-552.05 279.87 7,927.15 -11.45 216.45 21.01 239.65 -37.86 -29.51 -2.41
Operating Cash Flow to Interest Expense
-360.66 392.03 9,884.63 -8.22 243.62 24.76 334.01 -22.61 -19.99 -0.21
Operating Cash Flow Less CapEx to Interest Expense
-405.66 350.39 9,238.54 -9.58 234.79 23.06 291.57 -27.22 -23.18 -1.21
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.95 1.01 1.19 1.19 1.24 1.09 1.07 1.06 1.09 1.04
Accounts Receivable Turnover
24.44 25.47 34.74 41.83 48.12 44.37 45.27 43.52 47.66 45.46
Inventory Turnover
0.92 1.02 1.11 1.14 1.28 1.09 1.06 1.03 1.11 1.05
Fixed Asset Turnover
132.86 140.15 165.80 134.97 100.54 69.92 55.79 61.63 90.57 72.65
Accounts Payable Turnover
19.81 16.95 18.38 18.97 21.38 21.03 21.52 18.96 20.26 21.94
Days Sales Outstanding (DSO)
14.94 14.33 10.51 8.73 7.58 8.23 8.06 8.39 7.66 8.03
Days Inventory Outstanding (DIO)
397.76 358.77 328.55 320.18 285.48 336.30 345.59 352.74 329.51 348.09
Days Payable Outstanding (DPO)
18.43 21.53 19.86 19.24 17.07 17.36 16.96 19.25 18.01 16.64
Cash Conversion Cycle (CCC)
394.27 351.57 319.19 309.67 275.99 327.17 336.69 341.88 319.16 339.48
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
5,768 4,668 4,220 3,555 2,595 2,646 2,687 2,655 2,368 2,079
Invested Capital Turnover
1.23 1.38 1.62 1.67 1.72 1.38 1.33 1.30 1.37 1.30
Increase / (Decrease) in Invested Capital
1,100 448 665 960 -51 -41 32 288 289 179
Enterprise Value (EV)
6,191 6,297 3,557 4,993 3,308 2,972 2,408 3,107 2,315 2,144
Market Capitalization
5,565 6,240 3,286 4,475 3,061 2,300 1,442 2,029 1,369 1,325
Book Value per Share
$142.11 $126.53 $108.00 $81.59 $62.42 $51.54 $43.06 $39.10 $35.52 $31.74
Tangible Book Value per Share
$142.11 $126.53 $108.00 $81.59 $62.42 $51.54 $43.06 $39.10 $35.52 $31.74
Total Capital
6,448 5,607 5,093 4,187 3,345 2,970 3,016 2,843 2,517 2,352
Total Debt
1,307 995 1,144 1,142 997 996 1,295 1,266 1,095 1,093
Total Long-Term Debt
1,307 995 1,144 1,142 997 996 1,295 1,266 1,095 1,093
Net Debt
626 56 270 518 247 672 966 1,079 946 820
Capital Expenditures (CapEx)
28 38 26 25 19 24 33 18 16 16
Debt-free, Cash-free Net Working Capital (DFCFNWC)
5,503 4,474 4,066 3,453 2,483 2,542 2,569 2,540 2,228 1,921
Debt-free Net Working Capital (DFNWC)
6,155 5,395 4,928 4,072 3,229 2,861 2,881 2,711 2,360 2,184
Net Working Capital (NWC)
6,155 5,395 4,928 4,072 3,229 2,861 2,881 2,711 2,360 2,184
Net Nonoperating Expense (NNE)
-35 -37 -2.06 11 -3.56 3.65 -7.57 -1.48 -32 11
Net Nonoperating Obligations (NNO)
626 56 270 510 247 672 966 1,079 946 820
Total Depreciation and Amortization (D&A)
26 25 25 26 31 28 27 17 16 14
Debt-free, Cash-free Net Working Capital to Revenue
86.08% 72.89% 64.56% 67.09% 55.17% 69.11% 72.48% 77.99% 73.25% 74.11%
Debt-free Net Working Capital to Revenue
96.27% 87.90% 78.24% 79.10% 71.74% 77.79% 81.27% 83.24% 77.58% 84.23%
Net Working Capital to Revenue
96.27% 87.90% 78.24% 79.10% 71.74% 77.79% 81.27% 83.24% 77.58% 84.23%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$10.85 $10.09 $13.52 $19.61 $11.23 $6.55 $5.67 $3.56 $3.74 $3.25
Adjusted Weighted Average Basic Shares Outstanding
72.48M 73.24M 73.39M 37.61M 37.72M 38.10M 40.11M 40.29M 39.98M 39.59M
Adjusted Diluted Earnings per Share
$10.72 $9.97 $13.37 $19.29 $11.00 $6.42 $5.58 $3.41 $3.55 $3.09
Adjusted Weighted Average Diluted Shares Outstanding
73.33M 74.14M 74.20M 38.23M 38.48M 38.89M 40.73M 42.23M 42.59M 42.16M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
71.77M 72.34M 73.14M 36.94M 37.51M 38.13M 38.13M 40.33M 40.12M 39.79M
Normalized Net Operating Profit after Tax (NOPAT)
751 702 990 748 420 253 220 142 137 140
Normalized NOPAT Margin
11.75% 11.44% 15.72% 14.53% 9.33% 6.89% 6.20% 4.35% 4.49% 5.41%
Pre Tax Income Margin
15.69% 15.47% 20.47% 18.55% 11.85% 8.24% 7.99% 7.60% 7.17% 7.31%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
1,590.33 1,047.78 31,447.78 52.60 246.09 22.63 363.10 65.86 39.48 12.87
NOPAT to Interest Expense
1,190.62 774.14 24,149.63 40.42 192.89 18.09 279.95 36.80 26.42 8.78
EBIT Less CapEx to Interest Expense
1,545.33 1,006.14 30,801.68 51.24 237.26 20.92 320.66 61.25 36.30 11.86
NOPAT Less CapEx to Interest Expense
1,145.62 732.50 23,503.54 39.06 184.05 16.38 237.51 32.19 23.23 7.78
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
13.81% 5.35% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
29.83% 13.35% 11.02% 8.27% 16.43% 6.42% 43.99% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Meritage Homes

This table displays calculated financial ratios and metrics derived from Meritage Homes' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-7.17% -2.31% -1.63% 8.59% 14.43% -16.89% 2.27% 10.48% -0.58% 32.79% 25.21%
EBITDA Growth
-30.80% -14.43% -12.47% 24.13% 40.78% -23.70% -12.61% -27.29% -41.54% 9.92% 24.99%
EBIT Growth
-31.56% -14.41% -12.81% 24.41% 41.57% -24.36% -13.00% -27.79% -42.19% 9.85% 25.86%
NOPAT Growth
-35.41% -14.37% -11.56% 26.18% 43.91% -27.23% -19.21% -29.40% -42.87% 9.81% 31.38%
Net Income Growth
-33.98% -13.18% -11.63% 23.93% 41.67% -24.21% -15.52% -25.29% -39.56% 10.49% 30.75%
EPS Growth
-33.20% -13.18% -10.70% 25.70% 42.94% -24.21% -15.77% -25.85% -38.86% 10.49% 35.24%
Operating Cash Flow Growth
-151.97% 4.74% -188.28% -150.97% -34.18% -118.17% 181.50% 205.66% 921.27% 495.23% 135.18%
Free Cash Flow Firm Growth
-182.35% -261.59% -352.29% -425.51% -8.44% 36.03% 144.07% 124.06% 57.66% 43.95% -37.49%
Invested Capital Growth
24.22% 23.56% 26.04% 22.60% 12.94% 10.62% -3.61% -1.11% 12.33% 18.71% 32.73%
Revenue Q/Q Growth
-15.96% 1.83% -6.30% 15.76% -11.55% 2.54% 3.44% 21.98% -35.76% 26.17% 11.74%
EBITDA Q/Q Growth
-27.20% -11.04% -15.84% 26.96% -9.97% -9.01% 19.35% 43.99% -51.21% 4.22% -0.69%
EBIT Q/Q Growth
-27.71% -11.35% -16.13% 27.34% -9.60% -9.69% 19.67% 44.90% -51.70% 3.87% -0.66%
NOPAT Q/Q Growth
-28.59% -13.76% -15.91% 24.74% -5.34% -10.93% 19.97% 42.27% -52.13% -1.11% 4.84%
Net Income Q/Q Growth
-28.87% -11.90% -15.37% 24.48% -6.45% -10.33% 18.69% 42.30% -49.95% -0.05% 4.96%
EPS Q/Q Growth
-28.99% -11.90% -15.37% 24.70% -6.12% -10.33% 19.12% 41.81% -50.00% -0.05% 4.87%
Operating Cash Flow Q/Q Growth
57.24% -8.23% 22.00% -243.96% 178.39% -200.30% -54.97% 85.92% -78.36% 1,453.51% 116.90%
Free Cash Flow Firm Q/Q Growth
-11.41% 0.83% -29.60% -97.19% -42.68% -169.19% 67.21% 165.69% 15.84% 52.33% 8.73%
Invested Capital Q/Q Growth
3.19% 5.16% 6.10% 7.89% 2.64% 7.27% 3.20% -0.61% 0.54% -6.52% 5.87%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
22.15% 23.41% 24.85% 26.10% 25.65% 25.38% 26.86% 23.89% 22.32% 25.28% 28.75%
EBITDA Margin
12.17% 14.05% 16.08% 17.90% 16.32% 16.03% 18.07% 15.66% 13.27% 17.47% 21.15%
Operating Margin
11.04% 12.78% 15.00% 16.83% 15.30% 14.79% 16.85% 14.46% 12.17% 16.93% 20.78%
EBIT Margin
11.73% 13.64% 15.67% 17.50% 15.91% 15.57% 17.68% 15.28% 12.86% 17.11% 20.78%
Profit (Net Income) Margin
8.99% 10.63% 12.28% 13.60% 12.65% 11.96% 13.67% 11.92% 10.22% 13.11% 16.55%
Tax Burden Percent
76.68% 77.92% 78.41% 77.87% 79.49% 76.82% 77.61% 78.00% 79.43% 76.66% 79.67%
Interest Burden Percent
100.00% 100.00% 100.00% 99.79% 100.00% 100.00% 99.68% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
23.32% 22.08% 21.59% 22.13% 20.51% 23.18% 22.39% 22.00% 20.57% 23.34% 20.34%
Return on Invested Capital (ROIC)
9.90% 12.20% 15.38% 18.03% 17.02% 15.69% 19.11% 17.13% 15.17% 21.03% 24.28%
ROIC Less NNEP Spread (ROIC-NNEP)
11.66% 15.39% 19.72% 24.65% 22.85% 21.77% 21.63% 19.57% 16.96% 21.73% 24.27%
Return on Net Nonoperating Assets (RNNOA)
0.97% 1.08% 0.80% 0.69% 0.64% 0.83% 2.04% 2.10% 1.84% 2.42% 5.25%
Return on Equity (ROE)
10.88% 13.28% 16.18% 18.72% 17.66% 16.52% 21.14% 19.22% 17.01% 23.45% 29.54%
Cash Return on Invested Capital (CROIC)
-8.79% -6.68% -7.22% -3.19% 4.60% 5.71% 21.11% 20.53% 10.76% 8.36% -3.69%
Operating Return on Assets (OROA)
10.40% 12.90% 15.17% 17.40% 16.28% 15.76% 19.48% 17.30% 14.81% 20.37% 23.80%
Return on Assets (ROA)
7.97% 10.05% 11.89% 13.52% 12.94% 12.11% 15.07% 13.49% 11.76% 15.61% 18.96%
Return on Common Equity (ROCE)
10.88% 13.28% 16.18% 18.72% 17.66% 16.52% 21.14% 19.22% 17.01% 23.45% 29.54%
Return on Equity Simple (ROE_SIMPLE)
13.92% 0.00% 16.15% 17.17% 16.81% 0.00% 18.15% 19.84% 22.28% 0.00% 26.27%
Net Operating Profit after Tax (NOPAT)
116 162 188 223 179 189 212 177 124 260 263
NOPAT Margin
8.46% 9.96% 11.76% 13.10% 12.16% 11.36% 13.08% 11.28% 9.67% 12.98% 16.56%
Net Nonoperating Expense Percent (NNEP)
-1.76% -3.19% -4.34% -6.62% -5.82% -6.07% -2.53% -2.45% -1.79% -0.70% 0.01%
Return On Investment Capital (ROIC_SIMPLE)
1.65% 2.51% - - - 3.37% - - - 5.10% -
Cost of Revenue to Revenue
77.85% 76.59% 75.15% 73.90% 74.35% 74.62% 73.14% 76.11% 77.68% 74.72% 71.25%
SG&A Expenses to Revenue
4.17% 4.17% 3.71% 3.12% 3.45% 4.15% 3.89% 3.33% 3.70% 2.83% 3.06%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
11.11% 10.63% 9.85% 9.27% 10.35% 10.59% 10.00% 9.44% 10.14% 8.35% 7.97%
Earnings before Interest and Taxes (EBIT)
160 222 250 298 234 259 287 240 165 342 329
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
166 228 256 305 240 267 293 246 171 349 335
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.98 1.08 1.48 1.20 1.35 1.35 1.00 1.22 1.03 0.83 0.69
Price to Tangible Book Value (P/TBV)
0.98 1.08 1.48 1.20 1.35 1.35 1.00 1.22 1.03 0.83 0.69
Price to Revenue (P/Rev)
0.81 0.87 1.16 0.91 1.01 1.02 0.68 0.80 0.67 0.52 0.44
Price to Earnings (P/E)
7.04 7.08 9.17 7.01 8.02 8.45 5.53 6.13 4.64 3.31 2.61
Dividend Yield
2.19% 3.90% 1.23% 1.26% 0.89% 1.26% 0.67% 0.38% 0.23% 0.00% 0.00%
Earnings Yield
14.21% 14.13% 10.91% 14.26% 12.46% 11.84% 18.09% 16.33% 21.54% 30.19% 38.31%
Enterprise Value to Invested Capital (EV/IC)
0.98 1.07 1.44 1.19 1.34 1.35 1.00 1.22 1.03 0.84 0.74
Enterprise Value to Revenue (EV/Rev)
0.93 0.97 1.23 0.95 1.02 1.03 0.67 0.80 0.70 0.56 0.58
Enterprise Value to EBITDA (EV/EBITDA)
6.12 6.01 7.40 5.58 6.16 6.45 4.12 4.66 3.67 2.71 2.62
Enterprise Value to EBIT (EV/EBIT)
6.29 6.17 7.59 5.72 6.32 6.63 4.22 4.77 3.75 2.76 2.67
Enterprise Value to NOPAT (EV/NOPAT)
8.49 8.24 10.15 7.68 8.51 8.97 5.65 6.23 4.89 3.59 3.47
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 20.57 17.71 4.22 5.30 8.47 8.78 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 30.99 24.81 4.67 5.89 10.16 10.94 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.35 0.25 0.26 0.27 0.21 0.22 0.22 0.27 0.28 0.29 0.31
Long-Term Debt to Equity
0.35 0.25 0.26 0.27 0.21 0.22 0.22 0.27 0.28 0.29 0.31
Financial Leverage
0.08 0.07 0.04 0.03 0.03 0.04 0.09 0.11 0.11 0.11 0.22
Leverage Ratio
1.43 1.39 1.41 1.42 1.41 1.42 1.45 1.48 1.51 1.51 1.56
Compound Leverage Factor
1.43 1.39 1.41 1.42 1.41 1.42 1.45 1.48 1.51 1.51 1.56
Debt to Total Capital
25.73% 20.26% 20.60% 21.07% 17.41% 17.74% 18.36% 21.22% 21.95% 22.45% 23.70%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
25.73% 20.26% 20.60% 21.07% 17.41% 17.74% 18.36% 21.22% 21.95% 22.45% 23.70%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
74.27% 79.74% 79.40% 78.93% 82.59% 82.26% 81.64% 78.78% 78.05% 77.55% 76.31%
Debt to EBITDA
1.88 1.27 1.22 1.18 0.95 1.02 0.94 1.04 0.96 0.87 0.89
Net Debt to EBITDA
0.79 0.61 0.43 0.26 0.07 0.06 -0.07 -0.03 0.15 0.21 0.65
Long-Term Debt to EBITDA
1.88 1.27 1.22 1.18 0.95 1.02 0.94 1.04 0.96 0.87 0.89
Debt to NOPAT
2.62 1.74 1.68 1.62 1.31 1.42 1.29 1.39 1.28 1.16 1.18
Net Debt to NOPAT
1.10 0.83 0.58 0.36 0.09 0.08 -0.09 -0.04 0.20 0.27 0.86
Long-Term Debt to NOPAT
2.62 1.74 1.68 1.62 1.31 1.42 1.29 1.39 1.28 1.16 1.18
Altman Z-Score
4.06 4.65 5.15 4.77 5.23 5.22 4.66 4.85 4.50 4.27 3.89
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
10.91 9.98 8.93 9.11 8.15 8.36 7.91 9.62 9.43 8.33 7.35
Quick Ratio
1.90 1.32 1.47 1.72 1.50 1.62 1.69 2.24 1.93 1.60 0.67
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-1,045 -938 -946 -730 -370 -259 375 224 -341 -405 -851
Operating Cash Flow to CapEx
-765.34% -1,345.26% -1,154.71% -1,722.11% 1,325.94% -1,518.74% 1,044.05% 1,906.99% 1,419.13% 7,898.35% 560.54%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 -1,156.49 0.00 0.00 413.30 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 -186.92 0.00 0.00 114.89 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 -197.78 0.00 0.00 103.89 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.89 0.95 0.97 0.99 1.02 1.01 1.10 1.13 1.15 1.19 1.15
Accounts Receivable Turnover
24.88 24.44 24.94 27.59 27.94 25.47 30.68 33.76 34.50 34.74 33.94
Inventory Turnover
0.89 0.92 0.96 1.00 1.02 1.02 1.06 1.09 1.10 1.11 0.98
Fixed Asset Turnover
132.53 132.86 131.18 137.55 141.19 140.15 143.49 149.16 157.26 165.80 152.67
Accounts Payable Turnover
17.78 19.81 16.48 16.59 16.54 16.95 15.81 15.59 16.89 18.38 15.16
Days Sales Outstanding (DSO)
14.67 14.94 14.64 13.23 13.06 14.33 11.90 10.81 10.58 10.51 10.76
Days Inventory Outstanding (DIO)
410.48 397.76 379.32 363.73 358.91 358.77 345.60 334.30 333.12 328.55 373.15
Days Payable Outstanding (DPO)
20.53 18.43 22.15 21.99 22.06 21.53 23.09 23.41 21.61 19.86 24.08
Cash Conversion Cycle (CCC)
404.62 394.27 371.80 354.97 349.91 351.57 334.42 321.71 322.09 319.19 359.82
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
5,952 5,768 5,485 5,170 4,791 4,668 4,352 4,217 4,243 4,220 4,514
Invested Capital Turnover
1.17 1.23 1.31 1.38 1.40 1.38 1.46 1.52 1.57 1.62 1.47
Increase / (Decrease) in Invested Capital
1,160 1,100 1,133 953 549 448 -163 -47 466 665 1,113
Enterprise Value (EV)
5,844 6,191 7,905 6,165 6,438 6,297 4,366 5,132 4,382 3,557 3,357
Market Capitalization
5,087 5,565 7,450 5,878 6,367 6,240 4,435 5,164 4,207 3,286 2,525
Book Value per Share
$72.38 $142.11 $138.46 $134.43 $130.00 $126.53 $120.25 $115.55 $111.21 $108.00 $100.69
Tangible Book Value per Share
$72.38 $142.11 $138.46 $134.43 $130.00 $126.53 $120.25 $115.55 $111.21 $108.00 $100.69
Total Capital
6,995 6,448 6,335 6,186 5,716 5,607 5,415 5,392 5,211 5,093 4,825
Total Debt
1,800 1,307 1,305 1,304 995 995 994 1,144 1,144 1,144 1,143
Total Long-Term Debt
1,800 1,307 1,305 1,304 995 995 994 1,144 1,144 1,144 1,143
Net Debt
757 626 455 287 71 56 -69 -32 175 270 833
Capital Expenditures (CapEx)
5.56 7.40 7.97 6.85 6.18 6.88 9.98 12 8.77 7.28 6.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)
5,631 5,503 5,188 4,916 4,580 4,474 4,172 4,114 4,145 4,066 4,358
Debt-free Net Working Capital (DFNWC)
6,643 6,155 6,020 5,909 5,486 5,395 5,221 5,278 5,102 4,928 4,657
Net Working Capital (NWC)
6,643 6,155 6,020 5,909 5,486 5,395 5,221 5,278 5,102 4,928 4,657
Net Nonoperating Expense (NNE)
-7.28 -11 -8.38 -8.46 -7.17 -9.92 -9.64 -10 -7.02 -2.73 0.06
Net Nonoperating Obligations (NNO)
757 626 455 287 71 56 -69 -32 175 270 833
Total Depreciation and Amortization (D&A)
5.95 6.60 6.55 6.77 6.04 7.76 6.38 5.99 5.21 7.20 5.82
Debt-free, Cash-free Net Working Capital to Revenue
89.56% 86.08% 80.67% 76.12% 72.44% 72.89% 64.43% 63.89% 65.89% 64.56% 75.08%
Debt-free Net Working Capital to Revenue
105.65% 96.27% 93.60% 91.50% 86.76% 87.90% 80.63% 81.96% 81.11% 78.24% 80.24%
Net Working Capital to Revenue
105.65% 96.27% 93.60% 91.50% 86.76% 87.90% 80.63% 81.96% 81.11% 78.24% 80.24%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.71 $1.19 $5.41 $6.38 $5.12 $1.36 $6.06 $5.08 $3.58 $1.79 $7.18
Adjusted Weighted Average Basic Shares Outstanding
71.92M 144.95M 36.23M 36.32M 36.31M 146.48M 36.60M 36.77M 36.66M 146.78M 36.57M
Adjusted Diluted Earnings per Share
$1.69 $1.19 $5.34 $6.31 $5.06 $1.36 $5.98 $5.02 $3.54 $1.79 $7.10
Adjusted Weighted Average Diluted Shares Outstanding
72.65M 146.66M 36.67M 36.72M 36.78M 148.28M 37.08M 37.19M 37.12M 148.40M 36.95M
Adjusted Basic & Diluted Earnings per Share
$0.00 $1.19 $0.00 $0.00 $0.00 $1.36 $0.00 $0.00 $0.00 $1.79 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
71.83M 143.53M 36.18M 36.33M 36.32M 72.34M 36.45M 36.77M 36.77M 73.14M 36.57M
Normalized Net Operating Profit after Tax (NOPAT)
116 162 188 223 179 189 212 177 124 260 263
Normalized NOPAT Margin
8.46% 9.96% 11.76% 13.10% 12.16% 11.36% 13.08% 11.28% 9.67% 12.98% 16.56%
Pre Tax Income Margin
11.73% 13.64% 15.67% 17.47% 15.91% 15.57% 17.62% 15.28% 12.86% 17.11% 20.78%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 472.25 0.00 0.00 316.03 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 353.55 0.00 0.00 233.87 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 461.40 0.00 0.00 305.03 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 342.70 0.00 0.00 222.86 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
15.52% 13.81% 11.26% 8.85% 7.16% 5.35% 3.70% 2.36% 1.10% 0.00% 0.00%
Augmented Payout Ratio
31.43% 29.83% 22.34% 21.38% 20.40% 13.35% 10.56% 3.54% 3.30% 11.02% 13.78%

Frequently Asked Questions About Meritage Homes' Financials

When does Meritage Homes's financial year end?

According to the most recent income statement we have on file, Meritage Homes' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Meritage Homes' net income changed over the last 9 years?

Meritage Homes' net income appears to be on an upward trend, with a most recent value of $786.19 million in 2024, rising from $128.74 million in 2015. The previous period was $738.75 million in 2023. Check out Meritage Homes' forecast to explore projected trends and price targets.

What is Meritage Homes's operating income?
Meritage Homes's total operating income in 2024 was $958.35 million, based on the following breakdown:
  • Total Gross Profit: $1.60 billion
  • Total Operating Expenses: $639.93 million
How has Meritage Homes revenue changed over the last 9 years?

Over the last 9 years, Meritage Homes' total revenue changed from $2.59 billion in 2015 to $6.39 billion in 2024, a change of 146.6%.

How much debt does Meritage Homes have?

Meritage Homes' total liabilities were at $2.02 billion at the end of 2024, a 16.1% increase from 2023, and a 42.2% increase since 2015.

How much cash does Meritage Homes have?

In the past 9 years, Meritage Homes' cash and equivalents has ranged from $131.70 million in 2016 to $921.23 million in 2023, and is currently $651.56 million as of their latest financial filing in 2024.

How has Meritage Homes' book value per share changed over the last 9 years?

Over the last 9 years, Meritage Homes' book value per share changed from 31.74 in 2015 to 142.11 in 2024, a change of 347.8%.



This page (NYSE:MTH) was last updated on 5/29/2025 by MarketBeat.com Staff
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