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M/I Homes (MHO) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 23, 2026 · M/I Homes (MHO) Q3 2026 earnings results →
Q3 2026 Revenue down 5% year over year to $1.1B · 6¢ of every $1 of revenue kept as net profit · operating margin 7.7%
M/I Homes made $1.1B in Q3 2026 (-5% Y/Y): Construction $1.0B, Financial Service $32.7M, Land $12.0M. Operating margin 7.7%, net earnings $66.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 23, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.1B in Q3 2026, down 5% year over year and up 1% from the previous quarter. Construction was the largest line at 96% of revenue. Construction lost $0.06B year over year (down 6%), 115% of the total change.
Operating profit was $0.08B, a 7.7% margin (down 4.2 points year over year). Total costs fell 0% while revenue fell 5%. Net earnings were $0.07B, down 38% year over year. The effective tax rate was 23.4%.
Operating cash flow was −$0.01B. Non-cash charges added back $4.7M of depreciation and $4.6M of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $3.6M exceeded it, leaving free cash flow of −$0.02B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 23, 2026 | $1.1B | -5% | 7.7% | $66.6M | −$13.3M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $1.1B | -8% | 9.5% | $79.1M | $36.8M |
| Q1 2026 | 10-Q | Apr 24, 2026 | $921M | -6% | 9.3% | $67.8M | $136M |
| Q4 2025 | 10-K | Feb 13, 2026 | $1.1B | -5% | 6.5% | $64.0M | −$8.7M |
| Q3 2025 | 10-Q | Oct 24, 2025 | $1.1B | -1% | 12.0% | $106M | $43.4M |
| Q2 2025 | 10-Q | Jul 25, 2025 | $1.2B | +5% | 13.4% | $121M | $37.8M |
| Q1 2025 | 10-Q | Apr 25, 2025 | $976M | -7% | 14.4% | $111M | $64.9M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About M/I Homes
M/I Homes, Inc. and subsidiaries is one of the nation’s leading builders of single-family homes. The Company commenced homebuilding activities in 1976 marking 2026 as our 50th year in business. Since that time, the Company has sold over 168,200 homes. Unless this Form 10-K otherwise indicates or the context otherwise requires, the terms the “Company,” “we,” “us” and “our” refer to M/I Homes, Inc. and its subsidiaries. The Company consists of two distinct operations: homebuilding and financial services. Our homebuilding operations are aggregated for reporting purposes into two reporting segments - the Northern and Southern regions. Our financial services operations support our homebuilding operations by providing mortgage loans and title services to the customers of our homebuilding operations and are reported as an independent segment.
In its own words, from its 10-K, filed Feb 13, 2026.
M/I Homes against its Operative Builders peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -5% against the peers' median -8%. Operating margin: 7.7% against the peers' median 8.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MHO M/I Homes | Q3 2026 | $1.1B | -5% | 7.7% |
| DHI Horton D R | Q4 FY26 | $9.4B | -3% | 10.8% |
| PHM Pultegroup | Q3 2026 | $4.0B | -10% | 15.7% |
| TOL Toll Brothers | Q3 FY26 | $2.7B | -10% | 13.5% |
| NVR NVR | Q3 2026 | $2.4B | -8% | 13.9% |
| ECG Everus Construction Group | Q3 2026 | $1.4B | +40% | 8.8% |
| KBH KB Home | Q3 FY26 | $1.3B | -20% | 6.3% |
| DFH Dream Finders Homes | Q3 2026 | $996M | +3% | 1.3% |
| CCS Century Communities | Q3 2026 | $864M | -12% | 1.8% |
Source: M/I Homes 10-Q on SEC EDGAR · CIK 799292 · Operative Builders
13F: who owns MHO and who is buying
More on MHO
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results