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Meritage Homes Corporation MTH

Consumer Cyclical — Residential Construction
Dividend Champion (3y)
Growth Flags show if company had growth for consecutive years

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Insider Decisions

Total sells
5.02
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — 12 — — 1 — — — —
Insider Ownership
4.43%

Capital & Financial Ratios

Market Cap
4,210.00
Revenue
5,391.50
Net Income
329.27
Free Cash Flow
415.02
Net Debt
1,040.11
Current Ratio
1.97
Debt/Equity
0.37
P/E ratio
13.15
P/S ratio
0.77
P/B ratio
0.82
Past 5Y EPS Growth
27.28%
This Y EPS Growth
(22.17%)
Next Y EPS Growth
20.08%
Next 5Y EPS Growth
6.76%
in millions of $

Dividends

Payout Ratio
0.02
Annual Dividend Rate
1.08
Annual Dividend Yield
0.74%
total individual payouts
2028 ‡‡‡‡
2027 ‡‡‡‡‡
2026 1.92
—
—
—
2025 1.72
—
—
—
—
2024 1.50
—
—
—
—
2023 0.54
—
—
—
—
2022 ‡‡‡
2021 ‡‡‡
2020 ‡‡‡‡
2019 ‡‡‡‡
2018 ‡‡‡‡
2017 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 921.23 651.56 775.16 807.27
Receivables 266.97 256.28 306.96 304.10
Inventory — — — —
Other 111.36 192.41 174.17 168.98
1,299.56 1,100.24 1,256.28 1,280.34
2023 2024 2025 Q'26
Payables 271.65 212.48 200.68 215.74
ST’ Debt — — — —
Other 36.61 20.51 9.21 10.02
733.02 685.20 597.59 649.62
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 1,123.47 1,408.42 — —
—
’25 1,364.61 1,633.41 1,423.86 1,435.76
5,857.64
’24 1,474.75 1,702.05 1,596.52 1,621.71
6,395.04
’23 1,285.04 1,573.61 1,619.21 1,660.41
6,138.26
’22 1,291.61 1,417.52 1,584.33 1,998.75
6,292.20
’21 1,088.53 1,283.26 1,265.11 1,504.41
5,141.32
’20 904.93 1,037.56 1,143.03 1,415.71
4,501.22
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 101.31 189.47 — —
—
’25 (42.58) 13.70 (96.51) 243.67
118.29
’24 81.93 (117.95) (92.00) (99.56)
(227.58)
’23 124.47 231.41 104.21 (104.52)
355.57
’22 12.19 (219.01) 37.02 575.08
405.27
’21 (13.95) (129.53) (105.23) 96.61
(152.09)
’20 43.91 193.53 135.64 157.28
530.36
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 97.10 184.00 — —
—
’25 (48.14) 7.03 (104.24) 238.16
92.82
’24 75.75 (124.80) (99.96) (106.96)
(255.97)
’23 115.70 219.28 94.23 (111.40)
317.80
’22 5.94 (225.37) 30.41 567.80
378.78
’21 (18.85) (135.29) (112.06) 89.01
(177.20)
’20 38.68 188.68 131.48 152.29
511.13
in millions of $

EPS

Mar Jun Sep Dec Year
’26 0.82 1.37 — —
—
’25 1.69 2.04 1.39 1.20
6.35
’24 2.53 3.16 2.67 4.72
21.44
’23 1.77 2.51 2.99 2.69
9.97
’22 2.90 3.39 3.55 3.55
13.37
’21 1.72 2.18 2.63 3.13
9.65
’20 0.92 1.19 1.42 1.99
5.50

Target Price Range

High
‡‡‡‡‡
‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

2.3
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ 31.26 46.15 73.89 59.27 — — —
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 61.65 89.41 106.99 84.74 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 995 910 1,898 1,860 — — —
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6.32 6.75 3.37 3.15 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6,292.20 6,138.26 6,395.04 5,857.64 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 28.74% 24.96% 25.25% 19.99% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,289.32 949.43 1,002.87 584.60 — — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 20.49% 15.47% 15.68% 9.98% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 992.19 738.75 786.19 453.01 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 24.75 25.33 25.96 25.29 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 85.74 83.81 88.24 82.71 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 13.52 10.09 21.70 6.40 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.52 4.86 (3.14) 1.67 — — —
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.36) (0.52) (0.39) (0.36) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.16 4.34 (3.53) 1.31 — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 53.82 62.97 70.94 73.37 ‡‡‡‡‡ — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 73.39 73.24 72.48 70.82 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.45 8.46 5.81 10.31 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.54 1.02 0.87 0.80 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.87 1.36 1.08 0.90 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.59 1.04 0.99 0.98 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.84 20.11 (24.65) 62.12 — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 405.27 355.57 (227.58) 118.29 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (26.49) (37.77) (28.40) (25.47) ‡‡‡‡‡ ‡‡‡‡‡ —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 378.78 317.80 (255.97) 92.82 ‡‡‡‡‡ — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 481.47 566.54 415.04 658.69 — — —
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,150.65 1,008.22 1,335.88 1,829.05 — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 289.09 86.99 684.32 1,053.90 — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3,949.61 4,611.90 5,141.57 5,195.64 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 18.76% 12.19% 11.63% 6.13% — — —
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 18.97% 12.00% 10.28% 5.40% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 28.37% 17.26% 16.12% 8.76% — — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Meritage Homes (MTH), a top U.S. builder of affordable single-family homes, rode the post-pandemic housing boom to peak revenues of $6.39 billion in 2024—a 110% surge from 2016—fueled by low rates and supply shortages that boosted margins to 28.7% and EPS to $21.70. Yet, Fed hikes since 2022 triggered a pivot: 2023 revenues dipped 2.5%, with analysts forecasting an 8.4% drop to $5.86 billion in 2025 before a rebound to $6.39 billion by 2027, alongside EPS sliding to $5.79 in 2026 amid margin compression to 10%.

A rock-solid balance sheet—equity up 262% to $5.14 billion, shares reduced 10% via buybacks—offers downside protection, with valuations screaming value at forward PE of 11-14x versus historical 7-9x averages. Insiders show modest director buys amid routine exec sells, while analyst targets imply 2% mean upside (up to 18% high) if rate cuts revive demand for entry-level homes. This cyclical setup rewards patient investors eyeing a snapback.

Read the full analysis for detailed trends, FCF swings, ROE peaks at 28.4%, and why MTH stands out in housing’s next cycle.

Read full commentary →

Meritage Homes Corporation (MTH) Latest News

News by impact score

Fine-tune

16 Sep

3 , 9:03 AM
Truist forecasts Meritage Homes will raise homebuyer incentives to counter high mortgage rates, pressuring margins and sales tactics in a challenging rate environment. Potential margin compression from higher incentives directly influences Meritage Homes financial performance amid sustained high rates.

3 Sep

4 transcript , 9:01 PM
Motus Holdings Ltd posted record profit before tax for FY 2026 in its earnings call highlights. Record profit before tax marks major earnings growth that can lift stock trajectory and investor outlook.

9 Aug

3 , 3:17 AM
Meritage Homes reported softer Q2 results and lowered outlook, with analysis indicating its stock could be 7% undervalued. Softer Q2 results and lowered outlook moderately affect financial performance expectations for Meritage Homes.

7 Aug

4 transcript www.fool.com, 9:00 PM
Meritage Homes Corporation held its Q2 2026 earnings call, covering quarterly financial results and company outlook. Q2 earnings results and forward guidance directly affect stock valuation and investor positioning.

31 Jul

3 transcript www.marketbeat.com, 5:03 PM
Meritage Homes Q2 earnings call highlighted financial results, operational metrics, and forward guidance for the homebuilder. Q2 earnings updates and guidance can shift near-term stock sentiment and valuation but rarely alter long-term company trajectory.

3 , 5:27 AM
Meritage Homes Corporation maintained margin discipline while executing a strategic product shift in Q2 amid soft demand. Product strategy adjustments and margin focus indicate moderate effects on operational trajectory amid ongoing demand softness.

30 Jul

3 transcript , 7:02 PM
Meritage Homes Corp reported strong operational execution in Q2 2026 earnings call amid market challenges. Earnings highlights signal positive operational results that may support financial performance and investor views.

3 transcript app.moby.co, 8:30 AM
Meritage Homes Corporation held Q2 2026 earnings call covering quarterly results, operational metrics, and forward guidance. Quarterly earnings updates and guidance typically affect short-term stock sentiment and valuation without guaranteeing long-term structural change.

29 Jul

4 , 4:30 PM
Meritage Homes Corporation reported its second quarter 2026 financial results. Quarterly earnings directly shape investor views on Meritage Homes financial trajectory and stock performance.

3 , 8:30 PM
Meritage Homes Corporation Q2 earnings results are compared to estimates, with emphasis on performance across key financial metrics. Q2 earnings data versus estimates supplies concrete financial performance details that can shift near-term investor sentiment and valuation.

3 , 6:25 PM
Meritage Homes surpassed Q2 earnings estimates. Beating quarterly earnings estimates can lift near-term investor sentiment and stock performance.

3 , 4:50 PM
Meritage Homes reported Q2 CY2026 sales below analyst estimates. Missing quarterly sales estimates typically triggers moderate short-term stock pressure and shifts investor sentiment.

18 Jul

3 , 5:08 PM
Meritage Homes faces weakening ROIC that questions its sustained long-term investment appeal and trajectory. Weakening ROIC signals reduced capital efficiency that can pressure MTH valuation and growth outlook.

8 Jun

4 Simply Wall St., 11:11 AM
Meritage Homes reports sharp Q1 profit drop, prompting questions on whether this changes the company's investment case and future outlook. Q1 profit drop directly pressures financial results and investor sentiment around Meritage Homes.

23 May

3 Simply Wall St., 2:15 AM
Meritage Homes reported weaker first quarter earnings, prompting a valuation review amid concerns over future performance and market positioning. Weaker quarterly earnings can moderately influence investor sentiment and short-term stock trajectory for Meritage Homes.

14 May

3 Zacks, 4:00 AM
Meritage Homes (MTH) is Bear of the Day with Zacks Rank #5 (Strong Sell). Q2 earnings disappointed with 14% revenue drop to $1.56B, deliveries down 17%, net orders plunging 44% amid high mortgage rates, cancellations, and incentives. Margins squeezed, FY24 guidance cut. Shares down 26% YTD, P/E 7.9 but earnings set to decline. Bearish analysis spotlights weak Q2 results, order declines, and housing headwinds likely to moderately impact financial performance and sentiment.

24 Apr

4 GuruFocus.com, 3:12 AM
Meritage Homes Corp (MTH) Q1 2026 earnings call highlights focus on navigating operational challenges amid market conditions. Q1 2026 earnings highlights outline strategies for overcoming challenges, significantly influencing financial trajectory and investor sentiment.

4 www.marketbeat.com, 2:07 AM
Meritage Homes Corporation highlighted Q1 earnings results, operational updates, and forward guidance during its earnings call. Q1 earnings call highlights provide critical financial results and guidance that significantly shape investor expectations and stock trajectory.

3 StockStory, 9:41 AM
Meritage Homes' Q1 results highlight community growth and inventory discipline countering muted demand. Community expansion and inventory management balanced weak demand, moderately bolstering financial performance amid housing market headwinds.

23 Apr

4 transcript www.fool.com, 12:58 PM
Meritage Homes Corporation (MTH) released Q1 2026 earnings call transcript detailing financial results, home closings, revenue, net income, and future outlook. Q1 earnings transcript discloses key financial metrics, backlog, pricing strategies, and guidance that significantly shape MTH's valuation and market trajectory.

4 app.moby.co, 8:30 AM
Meritage Homes Corporation released Q1 2026 earnings call summary, covering financial results, home closings, orders, backlog, margins, and outlook amid housing market conditions. Earnings call summary reveals quarterly financial performance and guidance, significantly influencing stock price and investor expectations.

22 Apr

4 Zacks, 6:30 PM
Key metrics from Meritage Homes (MTH) Q1 earnings highlight the company's financial performance and operational health. Q1 earnings metrics directly impact MTH's financial trajectory and investor sentiment.

4 Zacks, 6:30 PM
Key metrics from Meritage Homes (MTH) Q1 earnings reveal insights into financial performance, operational efficiency, and future outlook. Q1 earnings metrics analysis highlights financial health indicators that could significantly sway investor sentiment and stock performance.

4 GlobeNewswire, 4:30 PM
Meritage Homes Corporation reported first quarter 2026 results. Quarterly earnings directly impact financial performance, stock price, and investor sentiment for Meritage Homes.

4 transcript www.fool.com, 12:23 PM
Meritage Homes Corporation (MTH) released Q3 2025 earnings call transcript detailing quarterly financial results, management's commentary, and future outlook. Q3 2025 earnings transcript provides critical financial metrics, guidance, and strategic insights significantly shaping MTH's trajectory and market performance.

3 Zacks, 7:00 PM
Meritage Homes (MTH) reported Q1 earnings and revenue below analyst estimates. Missing Q1 earnings and revenue estimates highlights weaker financial performance likely to moderately affect market sentiment and stock price.

3 StockStory, 5:41 PM
Meritage Homes (NYSE:MTH) reported Q1 CY2026 revenue below analyst estimates. Missing Q1 CY2026 revenue estimates signals weaker-than-expected sales performance, likely pressuring short-term financial outlook and stock sentiment.

15 Apr

3 Zacks, 10:00 AM
Analysts expect Meritage Homes (MTH) to surpass Q1 earnings estimates, driven by strong housing demand and operational efficiencies, with key metrics like revenue growth and EPS highlighted ahead of the release. Pre-earnings expectation to beat estimates may moderately boost investor sentiment and short-term stock performance.

11 Apr

4 Simply Wall St., 10:09 AM
Softening demand threatens to undermine Meritage Homes' (MTH) energy-efficient growth narrative amid challenging housing market conditions. Softening demand directly challenges Meritage Homes' core energy-efficient homebuilding strategy and market performance.

20 Mar

4 StockStory, 9:02 PM
Meritage Homes (MTH) shares plunged over 12% today after third-quarter earnings missed Wall Street estimates, with adjusted EPS of $4.27 versus $4.43 expected and revenue of $1.71 billion topping $1.66 billion forecasts but down year-over-year. Elevated mortgage rates drove a 45% drop in new home orders and doubled cancellation rates to 28%, prompting a slashed full-year closings outlook to 8,200-8,400 homes from prior 8,600-8,900. Disappointing earnings miss, surging cancellations, and lowered full-year guidance signal significant headwinds for future sales and profitability amid persistent high rates.
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