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| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $3,046 | $3,746 | $4,131 | $4,034 | $4,505 |
| Gross Profit | $685 | $909 | $1,062 | $1,019 | $1,199 |
| Operating Income | $319 | $518 | $637 | $587 | $706 |
| Net Income | $240 | $397 | $491 | $465 | $564 |
Over the five-year period, M/I HOMES, INC. has demonstrated overall revenue growth accompanied by steady improvements in gross profit, operating income, and net income. Starting at approximately $3.05 billion in 2020, revenue grew notably to about $3.75 billion in 2021—a jump of nearly 23%—and further increased to over $4.13 billion in 2022 (an additional 10% increase). However, in 2023 there was a slight dip to roughly $4.03 billion, representing a marginal decline of around 2.4% year-over-year, before rebounding in 2024 to about $4.50 billion (an 11.6% increase from 2023). Similarly, gross profit followed a positive trend, rising from $684.8 million in 2020 to $1.20 billion in 2024, indicating improved cost management or enhanced pricing power over time. Operating and net incomes echoed these trends. Operating income increased from $319.3 million in 2020 to $706.1 million in 2024, while net income grew from $239.9 million to $563.7 million, reflecting strong improvements in profitability margins. The significant year-over-year surge from 2020 to 2021 suggests that favorable market conditions or operational improvements played a role, while the minor dip in 2023 may indicate temporary market challenges or internal adjustments. Overall, the data paints a picture of a resilient and progressively strengthening company. M/I HOMES, INC.'s capacity to maintain growth, even through a slight revenue pullback, underscores a robust financial health and sustainability within the competitive homebuilding industry.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.