Filing Flows › M/I Homes (MHO) › Q4 2025
M/I Homes (MHO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
M/I Homes (MHO) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and +1% from the quarter before. Operating margin was 6.5%, net earnings $64.0M (5.6% of revenue).
M/I Homes, Q4 2025: revenue $1.1B (-5% year over year), operating margin 6.5%, net earnings $64.0M, operating cash flow −$8.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +1% | -5% |
| Operating profit | $74.6M | -45% | -54% |
| Net earnings | $64.0M | -40% | -52% |
| Operating cash flow | −$8.7M | -120% | — |
What changed
Revenue was $1.1B in Q4 2025, down 5% year over year and up 1% from the previous quarter. Construction was the largest line at 97% of revenue.
Operating profit was $0.07B, a 6.5% margin (down 7.1 points year over year). Total costs grew 3% against a revenue fall of 5%. Net earnings were $0.06B, down 52% year over year. The effective tax rate was 20.6%.
Operating cash flow was −$0.01B. Non-cash charges added back $4.0M of depreciation and $4.4M of share-based compensation. Working capital and other items used $0.08B. Capital expenditures of $4.3M exceeded it, leaving free cash flow of −$0.01B.
Questions
What was M/I Homes' revenue in the fourth quarter 2025?
M/I Homes (MHO) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and +1% from the quarter before.
Was M/I Homes profitable in the fourth quarter 2025?
Operating profit was $74.6M (6.5% of revenue) and net earnings $64.0M.
Source: M/I Homes 10-K on SEC EDGAR.