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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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Market cap: $4.0B
P/E: 12.2×
Fwd P/E: 13.6×
Dividend yield: 3.18%
F-score: 4/9
Altman Z: 3.21
Beneish M: −1.98
Dividend safety: 49/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
Piotroski F-Score Full definition →	4	3	5	8	5	9	8	9	3	4
P/E ratio Full definition →	10.31	7.09	8.46	3.45	6.22	7.37	9.37	6.48	14.75	9.48
Altman Z-Score Full definition →	3.21	4.04	4.69	3.92	4.13	3.66	2.98	2.40	2.39	2.26
P/S ratio Full definition →	0.80	0.87	1.02	0.54	0.89	0.69	0.64	0.42	0.65	0.47
P/FCF ratio Full definition →	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) Full definition →	5.51	6.23	6.54	6.37	5.31	4.83	3.58	3.03	2.39	2.35
P/Operating CF Full definition →	19.12	(55.99)	(59.83)	5.95	47.52	19.86	12.98	7.81	24.23	31.54
Beneish M-Score Full definition →	(1.98)	(1.85)	(1.87)	(1.59)	(1.24)	(2.59)	(2.47)	(2.57)	(2.03)	(1.79)
Dividend Safety Score Full definition →	49	—	—	—	—	—	—	—	—	—
P/B ratio Full definition →	0.90	1.08	1.36	0.87	1.51	1.33	1.18	0.86	1.34	1.00
Price to Tangible BV Full definition →	0.90	1.09	1.37	0.88	1.53	1.36	1.21	0.88	1.38	1.03
EV/Sales Full definition →	0.98	0.98	1.03	0.59	1.00	0.76	0.83	0.70	1.00	0.79
EV/EBITDA Full definition →	10.10	6.36	6.83	2.83	5.16	6.07	9.03	8.24	12.44	10.48
EV/Operating CF Full definition →	48.30	(27.50)	17.83	9.16	(33.75)	6.41	8.73	9.43	(37.05)	(23.34)
EV/FCF Full definition →	61.56	(24.45)	19.95	9.80	(28.96)	6.65	9.38	10.80	(30.78)	(20.13)
Quick Ratio Full definition →	1.81	1.32	1.62	1.60	1.29	1.70	1.01	1.16	0.70	0.59
Current Ratio Full definition →	2.10	1.61	1.77	1.72	1.44	1.82	1.13	1.32	0.87	0.85
Net Debt/EBITDA Full definition →	1.86	0.70	0.09	0.22	0.54	0.49	2.09	3.33	4.29	4.33
Debt/Assets Full definition →	24.00%	18.65%	15.87%	19.93%	24.13%	26.40%	29.99%	38.93%	39.49%	39.03%
Debt/Equity Full definition →	0.35	0.26	0.22	0.29	0.38	0.43	0.52	0.76	0.81	0.79
Asset Turnover Full definition →	0.79	0.95	1.01	1.19	1.19	1.24	1.08	1.07	1.06	1.09
Operating CF/Net income Full definition →	0.26	(0.29)	0.48	0.41	(0.21)	1.25	1.39	1.15	(0.61)	(0.69)
Capex/Depreciation Full definition →	(1.01)	(1.09)	(1.49)	(1.07)	(0.96)	(0.62)	(0.86)	(1.24)	(1.06)	(1.03)
Interest Coverage Full definition →	—	—	—	31,381.59	3,045.52	243.03	36.72	347.54	63.03	41.42
ROE Full definition →	8.76%	16.12%	17.26%	28.37%	27.35%	19.60%	13.51%	13.79%	9.56%	11.16%
ROA Full definition →	6.13%	11.63%	12.19%	18.76%	17.01%	11.66%	7.38%	6.87%	4.67%	5.37%
ROIC Full definition →	5.40%	10.28%	12.00%	18.97%	16.88%	12.61%	7.19%	6.27%	5.64%	5.54%
Return on Tangible Assets Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	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 Full definition →	0.34%	0.40%	0.37%	0.35%	0.39%	0.44%	0.53%	0.49%	0.37%	0.45%
Graham Net Nets Full definition →	(0.25)	(0.17)	(0.07)	(0.20)	(0.20)	(0.20)	(0.41)	(0.82)	(0.65)	(0.83)
Graham Number Full definition →	102.62	131.59	119.57	127.95	94.52	62.73	43.59	36.99	28.00	27.35
Earnings Yield Full definition →	9.70%	14.11%	11.82%	28.98%	16.07%	13.57%	10.67%	15.44%	6.78%	10.55%
Free Cash Flow Yield Full definition →	1.99%	(4.59%)	5.08%	11.06%	(3.86%)	16.36%	13.87%	15.54%	(4.96%)	(8.46%)
Revenue per Share Full definition →	82.71	88.24	83.81	85.74	68.35	59.67	48.12	43.99	40.22	38.04
Operating CF per Share Full definition →	1.67	(3.14)	4.86	5.52	(2.02)	7.03	4.55	3.27	(1.08)	(1.29)
Capex per Share Full definition →	(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 Full definition →	1.31	(3.53)	4.34	5.16	(2.36)	6.78	4.24	2.85	(1.30)	(1.50)
Cash per Share Full definition →	10.95	8.99	12.58	11.74	8.22	9.88	4.19	3.88	2.12	1.65
Shareholders Equity per Share Full definition →	73.37	70.94	62.97	53.82	40.47	31.12	25.91	21.45	19.57	17.78
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	73.37	70.94	62.97	53.82	40.47	31.12	25.91	21.45	19.57	17.78
Free Cash Flow Full definition →	92.82	(255.97)	317.80	378.78	(177.20)	511.13	322.89	228.88	(104.87)	(119.86)
Working Capital Full definition →	658.69	415.04	566.54	481.47	260.67	407.28	53.58	105.49	(45.64)	(52.27)
Capital Expenditures Full definition →	(25.47)	(28.40)	(37.77)	(26.49)	(25.11)	(19.23)	(23.93)	(33.32)	(17.74)	(16.46)
Net Current Asset Value Full definition →	(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 Full definition →	10.57	6.53	7.03	2.89	5.30	6.42	9.85	9.06	13.29	11.26
Capex to Sales Full definition →	0.00	0.00	0.01	0.00	0.00	0.00	0.01	0.01	0.01	0.01
Price to Operating Income Full definition →	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 Full definition →	0.54	0.55	0.52	0.64	0.70	0.80	0.55	0.49	0.50	0.48
Cash ROIC Full definition →	1.19%	(3.59%)	4.86%	6.35%	(3.67%)	12.43%	9.75%	6.85%	(3.46%)	(4.47%)
Accounts Receivable Turnover Full definition →	20.80	24.44	25.47	34.71	41.78	48.12	44.24	45.06	43.31	47.66
Accounts Payable Turnover Full definition →	22.69	19.75	16.91	18.33	18.93	21.33	20.98	21.47	18.92	20.22
Inventory Turnover Full definition →	0.00	0.00	0.00	1.11	1.14	1.28	1.08	1.05	1.03	0.97
Average Days of Payables Full definition →	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 Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	281.62	261.63	241.00	181.28	123.06	93.53	82.89	78.30	74.84	63.83
Average Payables Full definition →	206.58	242.06	272.46	244.64	195.63	165.14	141.60	134.34	140.60	123.56
Average Inventory Full definition →	—	—	—	4,050.00	3,260.00	2,761.00	2,743.50	2,737.00	2,576.50	2,576.50
Average Assets Full definition →	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 Full definition →	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

Fold the line items

Columns are period end dates

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