M/I Homes |
|
|---|---|
| 2017 Performance Final Grade: 70.96/1002016 Final Grade: 71.4/100 | B-/B |
| Change YoY | ||
|---|---|---|
| Net debt-to-capital | 35.2% | -430bps |
| Pretax home building income (in millions) | $89 | 33.3% |
| Total SG&A/Total revenue | 13% | -- |
| Total SG&A(in millions) | $254.6 | 15.5% |
| Return on invested capital | 5.7% | -80bps |
| Return on equity | 10.3% | 50bps |
| Total shareholder return | 34.6% | -- |
| EPS | $2.57 | 22.4% |
| Change YoY | ||
|---|---|---|
| Community count | 188 | +10 |
| Share of lots optioned to total controlled | 59.3% | 7.6% |
| Change YoY | ||
|---|---|---|
| Home building gross margins | 18% | 60bps |
| Sales per month to break even (per community) |
1.72 | -- |
| Revenue per employee (in millions) |
$1.6 | 6.6% |
| Change YoY | ||
|---|---|---|
| Closings | 5,089 | 13.5% |
| Sales velocity (per community per month) |
2.3 | 5.5% |
| Unit backlog | 2,014 | 11.6% |
| Total revenue (in millions):$1,962 |
| HB revenue (in millions): $1,878 |
| Debt per share: $24.82 |
| Equity per basic share: $29.00 |
| HB pretax margin: 4.7% |
| Backlog value (in millions): $791.3 |
| Inventory (in millions):$1,414.6 |
| Lot supply (in years): 5.6 |
M/I Homes (NYSE: MHO) set all-time company records for revenue, new contracts, and homes delivered in 2017. It posted a 25% increase in 2017 net income, excluding non-operating items. For the first time in the firm’s history, it exceeded 5,000 units in both homes delivered and new contracts while reaching nearly $2 billion in revenue. It also reached its highest year-end backlog level in more than 10 years, with a sales value of $791 million—a 15% increase over 2016.