Legacy Housing Corporation (LEGH) vs M/I Homes, Inc. (MHO)

Legacy Housing Corporation and M/I Homes, Inc. are both Residential Construction companies. M/I Homes, Inc. is the larger, with a market value of $3.4B against $716.1M — 4.7× the size. Legacy Housing Corporation trades at the lower P/E: 11.5× against 12.5×. Legacy Housing Corporation grew revenue faster over the last twelve months: 15.6% against −6.00%. Legacy Housing Corporation has the higher net margin (30.1% vs 6.59%) and the higher return on invested capital (8.22% vs 6.06%). Across the 22 metrics below, Legacy Housing Corporation leads on 13 and M/I Homes, Inc. on 9.

Valuation

Metric LEGH MHO Residential Construction median
P/E 11.47 12.47 15.45
P/S 3.45 0.81 1.32
P/B 1.24 1.05 1.24
Price to free cash flow 16.57 23.27 21.26
EV/EBITDA 11.48 10.13 12.52
EV/Sales 3.31 0.88 1.48
Earnings yield 8.72% 8.02% 6.38%
Free cash flow yield 6.03% 4.30% 4.64%

Profitability

Metric LEGH MHO Residential Construction median
Gross margin 0.00% 21.82% 19.15%
Operating margin 34.78% 8.21% 7.50%
Net margin 30.06% 6.59% 6.72%
Free cash flow margin 26.05% 3.48% 8.39%
Return on equity 11.36% 8.67% 11.56%
Return on assets 10.51% 5.76% 6.99%
Return on invested capital 8.22% 6.06% 4.98%

Growth

Metric LEGH MHO Residential Construction median
Revenue growth (TTM) 15.61% (6.00%) (6.00%)
EPS growth (last fiscal year) (29.84%) (25.22%) (25.22%)
Revenue growth, 5-year CAGR (1.42%) 7.72% 8.74%
Net income growth, 5-year CAGR 1.93% 10.93% 8.25%

Health

Metric LEGH MHO Residential Construction median
Debt to equity 0.00 0.29 0.17
Current ratio 3.25 7.54 3.25
Net debt to EBITDA (0.15) 0.54 0.37

Dividend

Metric LEGH MHO Residential Construction median
Dividend yield — — 1.15%
Payout ratio — — 0.18

Size

Metric LEGH MHO Residential Construction median
Market cap 716.10m 3.36b 4.72b

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