NYSE: MHO · Residential Construction
M/I Homes (MHO) fair value: undervalued or overvalued?
As of 3 Oct 2026, Faircurve's model values M/I Homes (MHO) at $167.41 a share. The stock last closed at $134.76, which puts the model's fair value 24.2% above the price. On the model's bands that reads as Undervalued.
Revalued . Price is the close of 2 Oct 2026. M/I Homes, Inc.
Faircurve Insights · 3 Oct 2026
M/I Homes, Inc. constructs single-family residences across a broad geographical area, including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee.
Faircurve's model found a fair value of $167.41 a share on 3 Oct 2026, the midpoint of 2,000 simulations. This fair value moved -3.6% from the previous run on 26 Sep 2026, which gave $173.72. The model's calibrated range over 63 trading days is $139.67 to $202.95, which held the price 60% of the time at this horizon. The model grades the evidence as High.
The overall quality score for the business is 54 out of 100 against comparable companies. The model compares M/I Homes, Inc. with Green Brick Partners, Inc., KB Home, Meritage Homes Corporation, Cavco Industries, Inc., Champion Homes, Inc., and Installed Building Products, Inc. The stock moved -0.5% around its 29 Jul 2026 earnings report and +4.5% around its 22 Apr 2026 report.
Written from the figures on this page for the 3 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give MHO?
The calibrated range for MHO over 63 trading days is $139.67 to $202.95. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,809 past valuations, refreshed 3 Oct 2026). Ranges built this way held the price 60% of the time at this horizon.
The price is below this range. For names with fair value 15 to 30% above price, the calibrated range has held the price 50% of the time over 63 trading days, and 48% ended below it; the typical move was +3.7%.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $131.75 to $208.45. In 78% of the simulations the fair value came out above the price the model ran on.
How does MHO score on business quality?
M/I Homes's overall quality score is 54 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 55 | 8.8%ROIC | 7.5% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 42 | 0.63xFCF / net income | 0.67x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 40 | -1.9%Revenue growth, trailing | -2.9% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 55 | 3.0%Net buybacks / market value | 4.1% |
| Balance sheetNet debt to EBITDA and interest coverage. | 66 | 0.52xNet debt / EBITDA | 1.37x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 91 | 1.0 ptsEBITDA margin downside volatility, 5y | 2.1 pts |
How does MHO compare with similar companies?
The companies in residential construction closest to M/I Homes in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| GRBK Green Brick Partners, Inc. | $66.66 | $70.46 | +5.7% | Fairly valued |
| KBH KB Home | $45.75 | $39.68 | -13.3% | Fairly valued |
| MTH Meritage Homes Corporation | $63.85 | $59.91 | -6.2% | Fairly valued |
| CVCO Cavco Industries, Inc. | $585.13 | $543.86 | -7.1% | Fairly valued |
| SKY Champion Homes, Inc. | $88.10 | $86.34 | -2.0% | Fairly valued |
| IBP Installed Building Products, Inc. | $193.00 | $181.50 | -6.0% | Fairly valued |
| CCS Century Communities, Inc. | $59.87 | $45.92 | -23.3% | Low evidence grade |
| LGIH LGI Homes, Inc. | $48.14 | $25.22 | -47.6% | Low evidence grade |
All residential construction stocks ranked by gap to fair value
When does MHO report earnings, and how has the stock reacted?
M/I Homes's next earnings report is scheduled for 28 Oct 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 10.7% in either direction through the nearest expiry, about 48 days out, a window that includes the report. That is the size the market is pricing, not a direction.
How MHO moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 3.8%.
| Report date | Two session move |
|---|---|
| 29 Jul 2026 | -0.5% |
| 22 Apr 2026 | +4.5% |
| 28 Jan 2026 | +6.0% |
| 22 Oct 2025 | -5.8% |
| 23 Jul 2025 | -1.8% |
| 23 Apr 2025 | -3.7% |
| 29 Jan 2025 | -3.9% |
| 30 Oct 2024 | -1.2% |
M/I Homes at a glance
M/I Homes, Inc. (MHO), along with its affiliated companies, constructs single-family residences across a broad geographical area, including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee.
- Market value
- $3.4B
- Sector
- Consumer Cyclical
- Industry
- Residential Construction
- Revenue expected, next twelve months
- $4.3B
- Consensus revenue growth, next fiscal year
- -5.3%
- Analysts with estimates
- 3
- Beta to the US market
- 0.56
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model prices M/I Homes on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for MHO was $173.72. As of 3 Oct 2026 it is $167.41, a change of -3.6%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about M/I Homes's valuation
Is M/I Homes stock undervalued or overvalued?
On Faircurve's model, MHO reads as Undervalued as of 3 Oct 2026. The model's fair value is $167.41 a share against a last close of $134.76, a gap of +24.2%.
What is MHO's fair value?
$167.41 a share as of 3 Oct 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $131.75 to $208.45.
What price range does the model give MHO?
$139.67 to $202.95 over 63 trading days. Ranges built this way held the price 60% of the time across 4,809 past valuations, refreshed 3 Oct 2026.
When does M/I Homes report earnings next?
The next report is scheduled for 28 Oct 2026. Companies can move their dates.
How much has MHO moved on past earnings reports?
Across its last 8 reports the median two session move was 3.8%, ignoring direction. The largest was +6.0% around the report of 28 Jan 2026.
How confident is the model in this valuation?
The model's evidence grade for MHO is high. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.