Meritage Homes Corporation | Mid-cap | Consumer Cyclical
$67.91
-1.29%
| Meritage Homes Stock Comparison:
Meritage Homes vs D.R. HortonMeritage Homes vs LennarMeritage Homes vs Installed BuildingMeritage Homes vs Taylor Morrison HomeMeritage Homes vs KB HomeMeritage Homes vs S&P 500 | Market
TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jun 2025

Income Metrics

Revenue 1.6B
Gross Profit 346.2M 21.19%
Operating Income 182.2M 11.15%
Net Income 146.9M 8.99%
EPS (Diluted) $2.04

Balance Sheet Metrics

Total Assets 7.7B
Total Liabilities 2.5B
Shareholders Equity 5.2B
Debt to Equity 0.48

Cash Flow Metrics

Operating Cash Flow 38.5M
Free Cash Flow -48.2M

Revenue & Profitability Trend

Meritage Homes Income Statement From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Revenue i 6.4B 6.1B 6.3B 5.1B 4.5B
Cost of Goods Sold i 4.8B 4.6B 4.5B 3.7B 3.5B
Gross Profit i 1.6B 1.5B 1.8B 1.4B 976.0M
Gross Margin % i 25.0% 24.7% 28.6% 27.9% 21.7%
Operating Expenses
Research & Development i - - - - -
Selling, General & Administrative i 639.9M 616.6M 516.2M 466.9M 446.9M
Other Operating Expenses i - - - - -
Total Operating Expenses i 639.9M 616.6M 516.2M 466.9M 446.9M
Operating Income i 958.3M 902.4M 1.3B 968.5M 529.1M
Operating Margin % i 15.0% 14.7% 20.4% 18.8% 11.7%
Non-Operating Items
Interest Income i - - - - -
Interest Expense i 0 0 41.0K 318.0K 2.2M
Other Non-Operating Income 44.5M 47.0M 2.7M -13.3M 6.7M
Pre-tax Income i 1.0B 949.4M 1.3B 954.8M 533.6M
Income Tax i 216.7M 210.7M 297.1M 217.4M 110.1M
Effective Tax Rate % i 21.6% 22.2% 23.0% 22.8% 20.6%
Net Income i 786.2M 738.7M 992.2M 737.4M 423.5M
Net Margin % i 12.3% 12.0% 15.8% 14.3% 9.4%
Key Metrics
EBITDA i 1.0B 975.7M 1.3B 999.6M 566.8M
EPS (Basic) i $10.85 $20.17 $27.04 $19.61 $11.23
EPS (Diluted) i $10.72 $19.93 $26.74 $19.29 $11.00
Basic Shares Outstanding i 72476000 36619000 36694000 37582000 37718000
Diluted Shares Outstanding i 72476000 36619000 36694000 37582000 37718000

Income Statement Trend

Meritage Homes Balance Sheet From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Assets
Current Assets
Cash & Equivalents i 651.6M 921.2M 861.6M 618.3M 745.6M
Short-term Investments i - - - - -
Accounts Receivable i - - - - -
Inventory i 5.7B 4.7B 4.4B 3.7B 2.8B
Other Current Assets - - - - -
Total Current Assets i 6.8B 6.0B 5.5B 4.6B 3.7B
Non-Current Assets
Property, Plant & Equipment i - - - - -
Goodwill i - - - - -
Intangible Assets i - - - - -
Long-term Investments - - - - -
Other Non-Current Assets 257.6M 266.2M 210.1M 165.4M 36.0M
Total Non-Current Assets i 333.6M 332.3M 260.5M 216.6M 182.6M
Total Assets i 7.2B 6.4B 5.8B 4.8B 3.9B
Liabilities
Current Liabilities
Accounts Payable i 212.5M 271.6M 273.3M 216.0M 175.2M
Short-term Debt i - - - - 28.3M
Current Portion of Long-term Debt - - - - -
Other Current Liabilities - - - - -
Total Current Liabilities i 596.7M 641.6M 613.5M 543.5M 444.4M
Non-Current Liabilities
Long-term Debt i 1.4B 1.1B 1.2B 1.2B 1.0B
Deferred Tax Liabilities i - - - - -
Other Non-Current Liabilities - - - 7.2M -
Total Non-Current Liabilities i 1.4B 1.1B 1.2B 1.2B 1.1B
Total Liabilities i 2.0B 1.7B 1.8B 1.8B 1.5B
Equity
Common Stock i 360.0K 364.0K 366.0K 373.0K 375.0K
Retained Earnings i 5.0B 4.3B 3.6B 2.6B 1.9B
Treasury Stock i - - - - -
Other Equity - - - - -
Total Shareholders Equity i 5.1B 4.6B 3.9B 3.0B 2.3B
Key Metrics
Total Debt i 1.4B 1.1B 1.2B 1.2B 1.1B
Working Capital i 6.2B 5.4B 4.9B 4.0B 3.2B

Balance Sheet Composition

Meritage Homes Cash Flow Statement From 2020 to 2024

Metric 2024 2023 2022 2021 2020
Operating Activities
Net Income i 786.2M 738.7M 992.2M 737.4M 423.5M
Depreciation & Amortization i 26.0M 25.3M 24.7M 26.2M 31.1M
Stock-Based Compensation i 25.8M 22.5M 22.3M 20.1M 20.0M
Working Capital Changes i -939.5M -421.6M -1.4B -2.0B -77.2M
Operating Cash Flow i -87.1M 369.1M -301.9M -1.2B 411.7M
Investing Activities
Capital Expenditures i -28.4M -37.8M -26.5M -25.1M -19.2M
Acquisitions i -18.5M -6.0M -5.8M -1.7M -5.0K
Investment Purchases i -750.0K -750.0K -1.0M -2.8M -2.5M
Investment Sales i 750.0K 750.0K 1.0M 2.8M 2.5M
Investing Cash Flow i -46.9M -43.8M -32.3M -26.8M -19.2M
Financing Activities
Share Repurchases i -125.9M -59.1M -109.3M -61.0M -69.6M
Dividends Paid i -108.6M -39.5M 0 0 -
Debt Issuance i 575.0M 0 0 450.0M 0
Debt Repayment i -259.6M -153.7M -20.5M -331.3M -16.4M
Financing Cash Flow i 2.0M -252.3M -129.8M 51.6M -86.0M
Free Cash Flow i -256.2M 317.4M 378.3M -177.8M 510.4M
Net Change in Cash i -132.0M 73.1M -463.9M -1.2B 306.5M

Cash Flow Trend

Meritage Homes Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 8.23
Forward P/E 3.34
Price to Book 0.97
Price to Sales 0.83
PEG Ratio -0.23

Profitability Ratios

Profit Margin 10.27%
Operating Margin 11.15%
Return on Equity 12.58%
Return on Assets 6.64%

Financial Health

Current Ratio 12.72
Debt to Equity 35.75
Beta 1.42

Per Share Data

EPS (TTM) $8.77
Book Value per Share $74.05
Revenue per Share $86.34

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
mth 4.9B 8.23 0.97 12.58% 10.27% 35.75
D.R. Horton 48.0B 12.97 2.01 16.10% 11.46% 29.94
Lennar 31.5B 12.08 1.38 10.77% 7.72% 24.89
Installed Building 6.6B 26.18 9.61 37.03% 8.45% 147.99
Taylor Morrison Home 6.2B 7.28 1.03 15.63% 10.72% 35.88
KB Home 4.1B 8.48 1.00 13.13% 7.92% 49.81

Financial data is updated regularly. All figures are in the company's reporting currency.