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M/I Homes

DB:MSA
Snowflake Description

Very undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MSA
DB
$1B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

M/I Homes, Inc., together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The last earnings update was 25 days ago. More info.


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MSA Share Price and Events
7 Day Returns
1.5%
DB:MSA
0.5%
DE Consumer Durables
-0.3%
DE Market
1 Year Returns
99.9%
DB:MSA
4%
DE Consumer Durables
10.4%
DE Market
MSA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
M/I Homes (MSA) 1.5% 10.7% 19.1% 99.9% 83.4% 111.6%
DE Consumer Durables 0.5% 5.1% 4.1% 4% -3% 13.6%
DE Market -0.3% 4.2% 12.4% 10.4% 13.9% 17.1%
1 Year Return vs Industry and Market
  • MSA outperformed the Consumer Durables industry which returned 4% over the past year.
  • MSA outperformed the Market in Germany which returned 10.4% over the past year.
Price Volatility
MSA
Industry
5yr Volatility vs Market
Related Companies

Value

 Is M/I Homes undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of M/I Homes to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for M/I Homes.

DB:MSA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MSA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.812 (1 + (1- 21%) (70.54%))
1.177
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.177 * 5.96%)
7.24%

Discounted Cash Flow Calculation for DB:MSA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for M/I Homes is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:MSA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.24%)
2020 95.40 Analyst x1 88.96
2021 113.66 Est @ 19.14% 98.83
2022 128.97 Est @ 13.47% 104.56
2023 141.22 Est @ 9.5% 106.76
2024 150.70 Est @ 6.72% 106.24
2025 157.89 Est @ 4.77% 103.79
2026 163.27 Est @ 3.41% 100.07
2027 167.27 Est @ 2.45% 95.61
2028 170.26 Est @ 1.79% 90.74
2029 172.50 Est @ 1.32% 85.73
Present value of next 10 years cash flows $981.00
DB:MSA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $172.50 × (1 + 0.23%) ÷ (7.24% – 0.23%)
$2,464.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,464.82 ÷ (1 + 7.24%)10
$1,224.94
DB:MSA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $981.00 + $1,224.94
$2,205.94
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,205.94 / 28.14
$78.38
DB:MSA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MSA represents 0.90037x of NYSE:MHO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90037x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 78.38 x 0.90037
€70.57
Value per share (EUR) From above. €70.57
Current discount Discount to share price of €39.40
= -1 x (€39.40 - €70.57) / €70.57
44.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price M/I Homes is available for.
Intrinsic value
44%
Share price is €39.4 vs Future cash flow value of €70.57
Current Discount Checks
For M/I Homes to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • M/I Homes's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • M/I Homes's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for M/I Homes's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are M/I Homes's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MSA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $4.27
NYSE:MHO Share Price ** NYSE (2019-11-19) in USD $43.76
Germany Consumer Durables Industry PE Ratio Median Figure of 8 Publicly-Listed Consumer Durables Companies 16.53x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 19.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of M/I Homes.

DB:MSA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MHO Share Price ÷ EPS (both in USD)

= 43.76 ÷ 4.27

10.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • M/I Homes is good value based on earnings compared to the DE Consumer Durables industry average.
  • M/I Homes is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does M/I Homes's expected growth come at a high price?
Raw Data
DB:MSA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
11.7%per year
Germany Consumer Durables Industry PEG Ratio Median Figure of 5 Publicly-Listed Consumer Durables Companies 1x
Germany Market PEG Ratio Median Figure of 258 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

DB:MSA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.26x ÷ 11.7%

0.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • M/I Homes is good value based on expected growth next year.
Price based on value of assets
What value do investors place on M/I Homes's assets?
Raw Data
DB:MSA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $33.92
NYSE:MHO Share Price * NYSE (2019-11-19) in USD $43.76
Germany Consumer Durables Industry PB Ratio Median Figure of 12 Publicly-Listed Consumer Durables Companies 1.69x
Germany Market PB Ratio Median Figure of 578 Publicly-Listed Companies 1.88x
DB:MSA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MHO Share Price ÷ Book Value per Share (both in USD)

= 43.76 ÷ 33.92

1.29x

* Primary Listing of M/I Homes.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • M/I Homes is good value based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess M/I Homes's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)
  5. M/I Homes has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is M/I Homes expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is M/I Homes expected to grow at an attractive rate?
  • M/I Homes's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • M/I Homes's earnings growth is positive but not above the Germany market average.
  • M/I Homes's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MSA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MSA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 11.7%
DB:MSA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 6.4%
Germany Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 14%
Germany Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MSA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MSA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,878 164 1
2020-12-31 2,706 147 2
2019-12-31 2,550 136 2
2019-11-19
DB:MSA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 2,481 74 118
2019-06-30 2,395 29 110
2019-03-31 2,330 7 107
2018-12-31 2,286 -3 108
2018-09-30 2,185 -62 91
2018-06-30 2,094 -35 81
2018-03-31 1,993 -62 69
2017-12-31 1,962 -53 66
2017-09-30 1,864 -58 70
2017-06-30 1,830 -46 61
2017-03-31 1,774 10 59
2016-12-31 1,691 34 52

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • M/I Homes's earnings are expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
  • M/I Homes's revenue is expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MSA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from M/I Homes Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MSA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 5.73 5.73 5.73 1.00
2020-12-31 5.14 5.14 5.13 2.00
2019-12-31 4.81 4.88 4.73 2.00
2019-11-19
DB:MSA Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 4.27
2019-06-30 3.94
2019-03-31 3.82
2018-12-31 3.81
2018-09-30 3.23
2018-06-30 2.93
2018-03-31 2.58
2017-12-31 2.57
2017-09-30 2.79
2017-06-30 2.44
2017-03-31 2.41
2016-12-31 2.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if M/I Homes will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess M/I Homes's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
M/I Homes has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has M/I Homes performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare M/I Homes's growth in the last year to its industry (Consumer Durables).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • M/I Homes has delivered over 20% year on year earnings growth in the past 5 years.
  • M/I Homes's 1-year earnings growth exceeds its 5-year average (29.7% vs 22.4%)
  • M/I Homes's earnings growth has exceeded the DE Consumer Durables industry average in the past year (29.7% vs -18.6%).
Earnings and Revenue History
M/I Homes's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from M/I Homes Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MSA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 2,480.63 118.21 295.78
2019-06-30 2,395.12 109.66 288.20
2019-03-31 2,329.53 107.32 284.84
2018-12-31 2,286.28 107.66 280.61
2018-09-30 2,185.50 91.14 276.96
2018-06-30 2,094.08 80.71 267.48
2018-03-31 1,992.85 68.57 257.58
2017-12-31 1,961.97 66.17 254.61
2017-09-30 1,863.52 69.63 244.57
2017-06-30 1,829.56 60.50 238.92
2017-03-31 1,773.94 59.43 230.93
2016-12-31 1,691.33 51.73 220.41
2016-09-30 1,637.00 44.45 212.43
2016-06-30 1,558.00 49.08 203.53
2016-03-31 1,479.61 46.51 195.81
2015-12-31 1,418.40 46.89 188.30
2015-09-30 1,317.44 44.60 180.06
2015-06-30 1,284.75 42.65 175.82
2015-03-31 1,243.50 42.85 172.71
2014-12-31 1,215.18 45.91 169.98
2014-09-30 1,183.52 49.19 167.50
2014-06-30 1,127.95 160.88 160.08
2014-03-31 1,080.90 154.59 152.97
2013-12-31 1,036.78 145.58 147.78
2013-09-30 951.39 137.55 136.42
2013-06-30 885.07 21.77 130.83
2013-03-31 821.51 18.93 122.83
2012-12-31 761.91 13.35 117.43

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • M/I Homes has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • M/I Homes used its assets more efficiently than the DE Consumer Durables industry average last year based on Return on Assets.
  • M/I Homes has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess M/I Homes's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
M/I Homes has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is M/I Homes's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up M/I Homes's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • M/I Homes is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • M/I Homes's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of M/I Homes's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from M/I Homes Company Filings, last reported 1 month ago.

DB:MSA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 954.64 849.68 33.76
2019-06-30 904.24 828.66 20.83
2019-03-31 871.46 873.63 41.76
2018-12-31 855.30 820.96 21.82
2018-09-30 835.20 879.61 35.88
2018-06-30 815.97 827.97 67.60
2018-03-31 786.37 818.26 46.87
2017-12-31 747.30 807.73 150.97
2017-09-30 773.39 723.75 103.37
2017-06-30 693.32 670.57 29.44
2017-03-31 671.71 663.65 38.99
2016-12-31 654.17 637.80 33.59
2016-09-30 631.59 622.65 23.02
2016-06-30 620.51 608.22 28.91
2016-03-31 604.61 646.95 32.65
2015-12-31 596.57 611.85 10.20
2015-09-30 583.34 611.22 26.04
2015-06-30 567.17 555.93 21.83
2015-03-31 553.61 542.92 30.59
2014-12-31 544.30 490.95 15.82
2014-09-30 533.29 468.83 17.60
2014-06-30 520.14 441.65 34.22
2014-03-31 506.59 431.21 89.76
2013-12-31 492.80 459.96 128.73
2013-09-30 479.58 435.46 143.42
2013-06-30 354.53 432.23 166.25
2013-03-31 395.35 434.96 263.25
2012-12-31 335.43 364.23 145.50
  • M/I Homes's level of debt (89%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (87.9% vs 89% today).
  • Debt is not well covered by operating cash flow (8.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.1x coverage).
X
Financial health checks
We assess M/I Homes's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. M/I Homes has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is M/I Homes's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from M/I Homes dividends.
If you bought €2,000 of M/I Homes shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate M/I Homes's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate M/I Homes's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MSA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MSA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
2019-11-19
DB:MSA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2010-07-30 0.000 0.000
2010-07-28 0.000 0.000
2010-04-30 0.000 0.000
2010-04-28 0.000 0.000
2010-02-24 0.000 0.000
2010-02-03 0.000 0.000
2009-10-30 0.000 0.000
2009-10-29 0.000 0.000
2009-07-31 0.000 0.000
2009-07-30 0.000 0.000
2009-05-01 0.000 0.000
2009-04-30 0.000 0.000
2009-02-25 0.000 0.000
2009-02-05 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as M/I Homes has not reported any payouts.
  • Unable to verify if M/I Homes's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of M/I Homes's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as M/I Homes has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess M/I Homes's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can M/I Homes afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. M/I Homes has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of M/I Homes's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bob Schottenstein
COMPENSATION $5,252,080
AGE 66
TENURE AS CEO 15.8 years
CEO Bio

Mr. Robert H. Schottenstein, also known as Bob, has been the Chief Executive Officer of M/I Homes, Inc. (formerly M/I Schottenstein Homes Inc.) since January 12, 2004 and has been its President since May 1996. Mr. Schottenstein joined M/I Homes in 1990 and served as its President of Land Operations from 1993 to 1996 and Assistant Secretary since March 1991. Mr. Schottenstein also serves on The Ohio State University Wexner Medical Center board and is also a board member of The Ohio State University Foundation. He has more than 35 years of experience in the real estate industry. Prior to M/I Homes, he was engaged in the private practice of law specializing in commercial real estate, corporate and banking transactions from 1977 to 1990. He has been the Chairman of the Board at M/I Homes, Inc. since March 9, 2004. He served as the Chairman of the Board of Trustees at The Ohio State University from February 2012 to April 2014. Mr. Schottenstein served as Vice Chairman of M/I Homes, Inc. since January 1999 and has been its Director since 1993. He has been a Non-Independent Director at L Brands, Inc. since August 22, 2017. He has been an Independent Director of Installed Building Products, Inc. since April 22, 2014. He served as a Director of Huntington Bancshares Incorporated from 1997 to April 2006. He served as a Trustee of The Ohio State University since 2005. He serves as a Board Member of The Children's Hospital Foundation. He serves on The Policy Advisory Board of Harvard University's Joint Center for Housing Studies and the Pelotonia Board. He is a member of The Columbus Partnership. In 2002, he received the Central Ohio Building Industry Association "Builder of the Year" Award and in 2008, he was named national "Executive of The Year" for the homebuilding industry by Builder Magazine. Mr. Schottenstein holds a B.A. from Indiana University and a J.D. from Capital University Law School.

CEO Compensation
  • Bob's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bob's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the M/I Homes management team in years:

15.8
Average Tenure
62
Average Age
  • The average tenure for the M/I Homes management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bob Schottenstein

TITLE
Chairman
COMPENSATION
$5M
AGE
66
TENURE
15.8 yrs

Phillip Creek

TITLE
Executive VP
COMPENSATION
$3M
AGE
66
TENURE
19.2 yrs

Tom Mason

TITLE
Executive VP
COMPENSATION
$2M
AGE
62
TENURE
17.3 yrs

Kevin Hake

TITLE
Senior VP of Finance & Business Development and Treasurer
AGE
60

Paul Rosen

TITLE
Senior Vice President
AGE
68
TENURE
20.8 yrs

Fred Sikorski

TITLE
Region President of Columbus
AGE
64
TENURE
3.6 yrs

Ronald Martin

TITLE
Region President of Detroit Division
AGE
50
TENURE
3.3 yrs

Tom Jacobs

TITLE
Region President
AGE
53
TENURE
3.8 yrs

Ann Marie Hunker

TITLE
VP & Corporate Controller
TENURE
16.6 yrs

Derek Klutch

TITLE
President & CEO of M/I Financial
AGE
55
TENURE
3 yrs
Board of Directors Tenure

Average tenure and age of the M/I Homes board of directors in years:

7.5
Average Tenure
65
Average Age
  • The tenure for the M/I Homes board of directors is about average.
Board of Directors

Phillip Creek

TITLE
Executive VP
COMPENSATION
$3M
AGE
66
TENURE
17.8 yrs

Tom Mason

TITLE
Executive VP
COMPENSATION
$2M
AGE
62
TENURE
13 yrs

Friedl Böhm

TITLE
Lead Independent Director
COMPENSATION
$223K
AGE
77
TENURE
6 yrs

Bob Schottenstein

TITLE
Chairman
COMPENSATION
$5M
AGE
66
TENURE
15.7 yrs

Norman Traeger

TITLE
Independent Director
COMPENSATION
$198K
AGE
79
TENURE
22.8 yrs

Bill Carter

TITLE
Independent Director
COMPENSATION
$218K
AGE
65
TENURE
7.5 yrs

Michael Glimcher

TITLE
Independent Director
COMPENSATION
$183K
AGE
51
TENURE
6.8 yrs

Nancy Kramer

TITLE
Independent director
COMPENSATION
$183K
AGE
63
TENURE
4.3 yrs

Lisa Ingram

TITLE
Independent Director
AGE
48
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
20. Feb 19 Sell Robert Schottenstein Individual 19. Feb 19 19. Feb 19 -41,432 €23.83 €-987,437
20. Feb 19 Sell J. Mason Individual 19. Feb 19 19. Feb 19 -61,190 €23.83 €-1,458,323
20. Feb 19 Sell Phillip Creek Individual 19. Feb 19 19. Feb 19 -27,620 €23.83 €-658,259
X
Management checks
We assess M/I Homes's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. M/I Homes has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

M/I Homes, Inc., together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments. It designs, constructs, markets, and sells single-family homes and attached townhomes to first-time, millennial, move-up, empty-nester, and luxury buyers under the M/I Homes and Showcase Collection brand names. The company also purchases undeveloped land to develop into developed lots for the construction of single-family homes, as well as for sale to others. In addition, it originates and sells mortgages; and serves as a title insurance agent by providing title insurance policies, examination, and closing services to purchasers of its homes. The company was formerly known as M/I Schottenstein Homes, Inc. and changed its name to M/I Homes, Inc. in January 2004. M/I Homes, Inc. was incorporated in 1973 and is based in Columbus, Ohio.

Details
Name: M/I Homes, Inc.
MSA
Exchange: DB
Founded: 1973
$1,111,459,439
28,142,916
Website: http://www.mihomes.com
Address: M/I Homes, Inc.
3 Easton Oval,
Suite 500,
Columbus,
Ohio, 43219,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MHO Common Shares New York Stock Exchange US USD 03. Nov 1993
DB MSA Common Shares Deutsche Boerse AG DE EUR 03. Nov 1993
Number of employees
Current staff
Staff numbers
1,359
M/I Homes employees.
Industry
Homebuilding
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 21:16
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/10/24
Last earnings filing: 2019/10/25
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.