MTH
Meritage Homes Corp.
| Market | Homes closed | YoY | Share | ASP | YoY | Net orders | YoY | Book-to-bill | Backlog |
|---|---|---|---|---|---|---|---|---|---|
| ▸West | 3,821 | -15.6% | 25% | $479k | -2.6% | 3,571 | -15.3% | 0.93× | 185 |
| ▸Central | 5,264 | -4.7% | 35% | $349k | -4.4% | 5,240 | +1.5% | 1.00× | 457 |
| ▸East | 5,941 | +6.9% | 40% | $353k | -6.6% | 5,839 | +11.7% | 0.98× | 526 |
| Consolidated | 15,026 | -3.7% | $384k | -5.6% | 14,650 | +0.3% | 0.97× | 1,168 |
ASP computed as closings value ÷ homes closed. ASP computed per region (value / homes). Effective 1/1/2025 Tennessee moved from East to Central; 2024 regional figures are the retroactively restated basis. Cancellation rate company-wide (11% / 9%).
ROE is decomposed into how profitable each sale is (net margin), how hard the asset base works (asset turnover), and how much leverage amplifies it (equity multiplier). Homebuilder returns are driven primarily by margin and inventory turns; a high equity multiplier signals balance-sheet leverage rather than operating quality. Period-end balances; see methodology.
| Metric | FY2014 | FY2015 | FY2016 | FY2017 |
|---|---|---|---|---|
| Revenue | $2.14bn | $2.53bn | $3.00bn | $3.19bn |
| Gross profit | $453m | $489m | $531m | $566m |
| EBITDA (derived) | $225m | $220m | $239m | $268m |
| Net income | $142m | $129m | $150m | $143m |
| Total assets | $2.32bn | $2.68bn | $2.89bn | $3.25bn |
| Shareholders' equity | $1.11bn | $1.26bn | $1.42bn | $1.58bn |
| Total debt | $904m | $1.09bn | $1.10bn | $1.27bn |
| Real-estate inventory | $1.88bn | $2.10bn | $2.42bn | $2.73bn |
| Tangible book value | $1.08bn | $1.23bn | $1.39bn | $1.54bn |
| Metric | FY2014 | FY2015 | FY2016 | FY2017 |
|---|---|---|---|---|
| Gross margin | 21.1% | 19.3% | 17.7% | 17.8% |
| EBITDA margin (derived) | 10.5% | 8.7% | 8.0% | 8.4% |
| Net margin | 6.6% | 5.1% | 5.0% | 4.5% |
| Return on assets | 6.1% | 4.8% | 5.2% | 4.4% |
| Return on equity | 12.8% | 10.2% | 10.5% | 9.1% |
| Asset turnover | 0.9× | 0.9× | 1.0× | 1.0× |
| Inventory turnover | 0.9× | 1.0× | 1.0× | 1.0× |
| Metric | FY2014 | FY2015 | FY2016 | FY2017 |
|---|---|---|---|---|
| Debt / capital | 44.9% | 46.5% | 43.5% | 44.5% |
| Debt / equity | 0.8× | 0.9× | 0.8× | 0.8× |
| Net debt / capital | 41.9% | 39.8% | 40.4% | 41.0% |
| Revenue growth (YoY) | 20.1% | 18.2% | 18.6% | 6.1% |
| Net income growth (YoY) | 14.3% | -9.5% | 16.2% | -4.2% |
| Metric | FY2014 | FY2015 | FY2016 | FY2017 |
|---|---|---|---|---|
| Diluted EPS | $3.46 | $3.09 | $3.55 | $3.41 |
| Tangible book / share | $27.55 | $31.14 | $34.9 | $38.48 |
| Book value / share | $28.39 | $31.98 | $35.73 | $39.3 |
Multiples use the current share price (May 29, 2026, Stooq (delayed close, last known)) and the most recent share count. P/E uses trailing FY2017diluted EPS. EV/EBITDA uses derived EBITDA (pre-tax plus interest plus D&A).
- 10-Kfiscal period ending Dec 31, 2017, filed Feb 12, 2021View on SEC EDGAR ↗
- 10-Kfiscal period ending Dec 31, 2017, filed Feb 18, 2020View on SEC EDGAR ↗
- 10-Kfiscal period ending Dec 31, 2017, filed Feb 15, 2019View on SEC EDGAR ↗
- 10-Kfiscal period ending Dec 31, 2017, filed Feb 12, 2018View on SEC EDGAR ↗
- 10-Kfiscal period ending Feb 15, 2017, filed Feb 17, 2017View on SEC EDGAR ↗
- Share price: Stooq (delayed close, last known) as of May 29, 2026 · all filings (CIK 833079) ↗
Field-level XBRL tag mapping
Derived metrics (margins, returns, leverage, turnover, growth, valuation multiples) are computed from the as-reported figures above. See the methodology & sources page for every definition and known limitation.
Homebuilder
Equity Analysis
Operations, margins, balance sheet and valuation across the public US homebuilders, derived entirely from SEC filings. Enter your email to continue.
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