Sunday 11 October 2026
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Meritage Homes Corporation
MTH Consumer Cyclical Residential Construction
Meritage Homes Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.9 billion, down 8.40% from fiscal 2024. In the quarter to June 2026, revenue fell 13.8%, EPS fell 33.0%, free cash flow grew 2,517.0% and total debt rose 1.07%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
58.81
1.82
−3.00%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
4 | 3 | 5 | 8 | 5 | 9 | 8 | 9 | 3 | 4 |
P/E ratio |
10.31 | 7.09 | 8.46 | 3.45 | 6.22 | 7.37 | 9.37 | 6.48 | 14.75 | 9.48 |
Altman Z-Score |
3.21 | 4.04 | 4.69 | 3.92 | 4.13 | 3.66 | 2.98 | 2.40 | 2.39 | 2.26 |
P/S ratio |
0.80 | 0.87 | 1.02 | 0.54 | 0.89 | 0.69 | 0.64 | 0.42 | 0.65 | 0.47 |
P/FCF ratio |
50.21 | 0.00 | 19.68 | 9.04 | 0.00 | 6.11 | 7.21 | 6.43 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
5.51 | 6.23 | 6.54 | 6.37 | 5.31 | 4.83 | 3.58 | 3.03 | 2.39 | 2.35 |
P/Operating CF |
19.12 | (55.99) | (59.83) | 5.95 | 47.52 | 19.86 | 12.98 | 7.81 | 24.23 | 31.54 |
Beneish M-Score |
(1.98) | (1.85) | (1.87) | (1.59) | (1.24) | (2.59) | (2.47) | (2.57) | (2.03) | (1.79) |
Dividend Safety Score |
49 | — | — | — | — | — | — | — | — | — |
P/B ratio |
0.90 | 1.08 | 1.36 | 0.87 | 1.51 | 1.33 | 1.18 | 0.86 | 1.34 | 1.00 |
Price to Tangible BV |
0.90 | 1.09 | 1.37 | 0.88 | 1.53 | 1.36 | 1.21 | 0.88 | 1.38 | 1.03 |
EV/Sales |
0.98 | 0.98 | 1.03 | 0.59 | 1.00 | 0.76 | 0.83 | 0.70 | 1.00 | 0.79 |
EV/EBITDA |
10.10 | 6.36 | 6.83 | 2.83 | 5.16 | 6.07 | 9.03 | 8.24 | 12.44 | 10.48 |
EV/Operating CF |
48.30 | (27.50) | 17.83 | 9.16 | (33.75) | 6.41 | 8.73 | 9.43 | (37.05) | (23.34) |
EV/FCF |
61.56 | (24.45) | 19.95 | 9.80 | (28.96) | 6.65 | 9.38 | 10.80 | (30.78) | (20.13) |
Quick Ratio |
1.81 | 1.32 | 1.62 | 1.60 | 1.29 | 1.70 | 1.01 | 1.16 | 0.70 | 0.59 |
Current Ratio |
2.10 | 1.61 | 1.77 | 1.72 | 1.44 | 1.82 | 1.13 | 1.32 | 0.87 | 0.85 |
Net Debt/EBITDA |
1.86 | 0.70 | 0.09 | 0.22 | 0.54 | 0.49 | 2.09 | 3.33 | 4.29 | 4.33 |
Debt/Assets |
24.00% | 18.65% | 15.87% | 19.93% | 24.13% | 26.40% | 29.99% | 38.93% | 39.49% | 39.03% |
Debt/Equity |
0.35 | 0.26 | 0.22 | 0.29 | 0.38 | 0.43 | 0.52 | 0.76 | 0.81 | 0.79 |
Asset Turnover |
0.79 | 0.95 | 1.01 | 1.19 | 1.19 | 1.24 | 1.08 | 1.07 | 1.06 | 1.09 |
Operating CF/Net income |
0.26 | (0.29) | 0.48 | 0.41 | (0.21) | 1.25 | 1.39 | 1.15 | (0.61) | (0.69) |
Capex/Depreciation |
(1.01) | (1.09) | (1.49) | (1.07) | (0.96) | (0.62) | (0.86) | (1.24) | (1.06) | (1.03) |
Interest Coverage |
— | — | — | 31,381.59 | 3,045.52 | 243.03 | 36.72 | 347.54 | 63.03 | 41.42 |
| 8.76% | 16.12% | 17.26% | 28.37% | 27.35% | 19.60% | 13.51% | 13.79% | 9.56% | 11.16% | |
| 6.13% | 11.63% | 12.19% | 18.76% | 17.01% | 11.66% | 7.38% | 6.87% | 4.67% | 5.37% | |
ROIC |
5.40% | 10.28% | 12.00% | 18.97% | 16.88% | 12.61% | 7.19% | 6.27% | 5.64% | 5.54% |
Return on Tangible Assets |
64.23% | 170.05% | 120.02% | 190.77% | 247.46% | 94.90% | 239.63% | 142.00% | (1,192.60%) | (784.29%) |
Average Days of Receivables |
19.13 | 14.63 | 15.88 | 12.47 | 10.47 | 7.99 | 8.81 | 7.99 | 8.93 | 8.44 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
10.52% | 10.01% | 10.05% | 8.20% | 9.08% | 9.93% | 10.71% | 10.78% | 10.67% | 11.14% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.34% | 0.40% | 0.37% | 0.35% | 0.39% | 0.44% | 0.53% | 0.49% | 0.37% | 0.45% |
Graham Net Nets |
(0.25) | (0.17) | (0.07) | (0.20) | (0.20) | (0.20) | (0.41) | (0.82) | (0.65) | (0.83) |
Graham Number |
102.62 | 131.59 | 119.57 | 127.95 | 94.52 | 62.73 | 43.59 | 36.99 | 28.00 | 27.35 |
Earnings Yield |
9.70% | 14.11% | 11.82% | 28.98% | 16.07% | 13.57% | 10.67% | 15.44% | 6.78% | 10.55% |
Free Cash Flow Yield |
1.99% | (4.59%) | 5.08% | 11.06% | (3.86%) | 16.36% | 13.87% | 15.54% | (4.96%) | (8.46%) |
Revenue per Share |
82.71 | 88.24 | 83.81 | 85.74 | 68.35 | 59.67 | 48.12 | 43.99 | 40.22 | 38.04 |
Operating CF per Share |
1.67 | (3.14) | 4.86 | 5.52 | (2.02) | 7.03 | 4.55 | 3.27 | (1.08) | (1.29) |
Capex per Share |
(0.36) | (0.39) | (0.52) | (0.36) | (0.33) | (0.25) | (0.31) | (0.42) | (0.22) | (0.21) |
Free Cash Flow per Share |
1.31 | (3.53) | 4.34 | 5.16 | (2.36) | 6.78 | 4.24 | 2.85 | (1.30) | (1.50) |
Cash per Share |
10.95 | 8.99 | 12.58 | 11.74 | 8.22 | 9.88 | 4.19 | 3.88 | 2.12 | 1.65 |
Shareholders Equity per Share |
73.37 | 70.94 | 62.97 | 53.82 | 40.47 | 31.12 | 25.91 | 21.45 | 19.57 | 17.78 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
73.37 | 70.94 | 62.97 | 53.82 | 40.47 | 31.12 | 25.91 | 21.45 | 19.57 | 17.78 |
Free Cash Flow |
92.82 | (255.97) | 317.80 | 378.78 | (177.20) | 511.13 | 322.89 | 228.88 | (104.87) | (119.86) |
Working Capital |
658.69 | 415.04 | 566.54 | 481.47 | 260.67 | 407.28 | 53.58 | 105.49 | (45.64) | (52.27) |
Capital Expenditures |
(25.47) | (28.40) | (37.77) | (26.49) | (25.11) | (19.23) | (23.93) | (33.32) | (17.74) | (16.46) |
Net Current Asset Value |
(1,170.36) | (920.84) | (441.67) | (669.18) | (906.58) | (612.80) | (965.40) | (1,204.56) | (1,364.42) | (1,179.58) |
EV/EBIT |
10.57 | 6.53 | 7.03 | 2.89 | 5.30 | 6.42 | 9.85 | 9.06 | 13.29 | 11.26 |
Capex to Sales |
0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
Price to Operating Income |
8.62 | 5.82 | 6.93 | 2.66 | 4.74 | 5.90 | 7.58 | 5.40 | 8.71 | 6.62 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.54 | 0.55 | 0.52 | 0.64 | 0.70 | 0.80 | 0.55 | 0.49 | 0.50 | 0.48 |
Cash ROIC |
1.19% | (3.59%) | 4.86% | 6.35% | (3.67%) | 12.43% | 9.75% | 6.85% | (3.46%) | (4.47%) |
Accounts Receivable Turnover |
20.80 | 24.44 | 25.47 | 34.71 | 41.78 | 48.12 | 44.24 | 45.06 | 43.31 | 47.66 |
Accounts Payable Turnover |
22.69 | 19.75 | 16.91 | 18.33 | 18.93 | 21.33 | 20.98 | 21.47 | 18.92 | 20.22 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 1.11 | 1.14 | 1.28 | 1.08 | 1.05 | 1.03 | 0.97 |
Average Days of Payables |
15.63 | 16.22 | 21.52 | 22.24 | 21.29 | 18.16 | 19.05 | 16.22 | 19.28 | 20.56 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
281.62 | 261.63 | 241.00 | 181.28 | 123.06 | 93.53 | 82.89 | 78.30 | 74.84 | 63.83 |
Average Payables |
206.58 | 242.06 | 272.46 | 244.64 | 195.63 | 165.14 | 141.60 | 134.34 | 140.60 | 123.56 |
Average Inventory |
— | — | — | 4,050.00 | 3,260.00 | 2,761.00 | 2,743.50 | 2,737.00 | 2,576.50 | 2,576.50 |
Average Assets |
7,392.47 | 6,757.89 | 6,062.62 | 5,289.82 | 4,335.97 | 3,631.32 | 3,381.86 | 3,308.37 | 3,069.97 | 2,784.23 |
Average Common Equity |
5,168.61 | 4,876.74 | 4,280.76 | 3,497.00 | 2,696.13 | 2,160.93 | 1,847.37 | 1,648.79 | 1,499.16 | 1,340.22 |
Columns are period end dates