Meritage Homes Corp (MTH)

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments: Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee. The company also provides title and escrow, mortgage, insurance, title insurance, and closing/settlement services to its homebuyers. Meritage Homes Corporation was founded in 1985 and is based in Scottsdale, Arizona.

Ticker: MTH
Exchange: NYSE
Sector: Consumer Cyclical
Industry: Residential Construction
Market cap: $4.38B
52-week range: $56.66 - $85.38

Valuation

Share price: $68.05 (close of Nov 6, 2026)
P/E (TTM): 15.19x
Price to book: 0.87x
Price to free cash flow: 9.06x
Enterprise value: $5.62B
Book value per share: $78.30

Price performance

Period	Change
1 day	-4.20%
5 days	+5.55%
1 month	+8.33%
3 months	-5.83%
6 months	+4.92%
Year to date	+3.42%
1 year	+4.00%
3 years	+3.77%
5 years	+20.70%
10 years	+348.29%
All time	+1,714.67%

Short interest

As of: Oct 15, 2026
Short % of float: 11.78%
Shares short: 5.14M
Days to cover: 4.96
Change since prior report: +28.78%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 8.72%
Return on assets: 5.94%
Net income growth: -42.38%

Cash flow and balance sheet

Free cash flow yield (TTM): 11.03%
Net debt to EBITDA: 3.01x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
EBITDA: $609.88M
Net income: $453.01M
Earnings per share: $6.40
Shares outstanding: 70.82M

Income statement by year

Period end	Net income	EPS
2025-12-31	$453.01M	$6.40
2024-12-31	$786.19M	$10.85
2023-12-31	$738.75M	$10.09
2022-12-31	$992.19M	$13.52
2021-12-31	$737.44M	$9.81
2020-12-31	$423.48M	$5.62
2019-12-31	$249.66M	$3.28
2018-12-31	$227.33M	$2.84
2017-12-31	$143.25M	$1.78
2016-12-31	$149.54M	$1.87

Margins and returns by year

Period end	Return on equity
2025-12-31	8.72%
2024-12-31	15.29%
2023-12-31	16.02%
2022-12-31	25.12%
2021-12-31	24.22%
2020-12-31	18.04%
2019-12-31	12.65%
2018-12-31	13.21%
2017-12-31	9.09%
2016-12-31	10.52%

Cash and debt by year

Period end	Cash
2025-12-31	$775.16M
2024-12-31	$651.55M
2023-12-31	$921.23M
2022-12-31	$861.56M
2021-12-31	$618.34M
2020-12-31	$745.62M
2019-12-31	$319.47M
2018-12-31	$311.47M
2017-12-31	$170.75M
2016-12-31	$131.70M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$92.57M	$19.68M
2024-12-31	-$256.23M	$25.81M
2023-12-31	$317.38M	$22.51M
2022-12-31	$378.30M	$22.33M
2021-12-31	-$177.76M	$20.07M
2020-12-31	$510.43M	$20.00M
2019-12-31	$322.44M	$19.61M
2018-12-31	$228.78M	$17.17M
2017-12-31	-$105.23M	$12.06M
2016-12-31	-$120.06M	$13.74M

Dividend history

Most recent payment: Sep 15, 2026
Paid in the last twelve months: $1.87

Payment date	Dividend per share
2026-09-15	$0.48
2026-06-16	$0.48
2026-03-17	$0.48
2025-12-17	$0.43
2025-09-16	$0.43
2025-06-16	$0.43
2025-03-17	$0.43
2024-12-17	$0.75

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-10-28	Sep 2026	$1.18
2026-07-29	Jun 2026	$1.30
2026-04-22	Mar 2026	$1.01
2026-01-28	Dec 2025	$1.55
2025-10-28	Sep 2025	$1.71
2025-07-23	Jun 2025	$1.99
2025-04-23	Mar 2025	$1.71
2025-01-29	Dec 2024	$2.21

Filings and sources

Company website: meritagehomes.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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