Meritage Homes Corporation (MTH) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 101.31M | 243.67M | -96.51M | 13.7M | -42.58M | -99.56M | -92M | -117.95M | 81.93M | -104.52M | 104.21M | 231.41M | 124.47M | 575.08M | 37.02M | -219.01M | 12.19M | 96.61M | -105.23M | -129.53M |
| Operating CF Margin % | 9.02% | 16.97% | -6.78% | 0.84% | -3.12% | -6.14% | -5.76% | -6.93% | 5.56% | -6.29% | 6.44% | 14.71% | 9.69% | 28.77% | 2.34% | -15.45% | 0.94% | 6.42% | -8.32% | -10.09% |
| Operating CF Growth % | 337.95% | 344.74% | -4.91% | 111.62% | -151.97% | 4.74% | -188.28% | -150.97% | -34.18% | -118.17% | 181.5% | 205.66% | 921.27% | 495.23% | 135.18% | -69.09% | 187.39% | -38.57% | -177.58% | -166.93% |
| Net Income | 55.31M | 84.03M | 99.3M | 146.88M | 122.81M | 172.65M | 195.97M | 231.56M | 186.02M | 198.85M | 221.76M | 186.84M | 131.3M | 262.37M | 262.49M | 250.08M | 217.25M | 237.46M | 200.75M | 167.39M |
| Depreciation & Amortization | 5.37M | 6.68M | 5.99M | 6.66M | 5.95M | 6.6M | 6.55M | 6.77M | 6.04M | 7.76M | 6.38M | 5.99M | 5.21M | 7.2M | 5.82M | 5.96M | 5.76M | 6.35M | 6.48M | 6.88M |
| Stock-Based Compensation | 5.86M | 0 | 4.86M | 3.6M | 6.33M | 6.5M | 8.47M | 4.72M | 6.11M | 5.95M | 6.16M | 4.18M | 6.22M | 5.44M | 6.85M | 4.07M | 5.97M | 5.63M | 5.84M | 3.22M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 5.89M | 35.16M | 20.96M | 5.89M | 1.88M | -2.48M | 10.96M | 3.83M | 1.01M | 2.62M | 138K | 1.33M | 1.36M | -566K | 11.64M | -748K | 341K | 22K | -5.31M | 17.86M |
| Working Capital Changes | 28.88M | 117.8M | -227.62M | -149.33M | -179.54M | -282.84M | -313.94M | -364.83M | -117.25M | -319.7M | -130.23M | 33.09M | -19.62M | 300.64M | -249.79M | -478.38M | -217.14M | -152.85M | -313M | -324.88M |
| Change in Receivables | 0 | 0 | -34.58M | -5.63M | -37.64M | 0 | -24.24M | -29.53M | 53.77M | -54.72M | -18.41M | 20.71M | -3M | -13.77M | 1.24M | -38.32M | -52.1M | -13.5M | -15.22M | -29.27M |
| Change in Inventory | 24.97M | 136.08M | -188.61M | -163.8M | -60.82M | -258.85M | 407.75M | -257.12M | -193.43M | -219.87M | -152.49M | 11.95M | 3M | 365.58M | -260.66M | -445.56M | -283.88M | -137.32M | -341M | -276.34M |
| Change in Payables | -43.27M | -47.04M | 0 | 0 | 0 | -63.32M | 34.35M | 0 | 0 | 0 | 0 | 0 | -31.69M | 0 | 5.21M | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -7.73M | -16.66M | -19.43M | -10.2M | -11.41M | -12.64M | -11.8M | -11.87M | -7.76M | -8.92M | -12.56M | -13.41M | -8.73M | -7.4M | -6.63M | -12.01M | -6.25M | -9.31M | -6.83M | -5.77M |
| Capital Expenditures | -4.31M | -5.58M | -7.79M | -6.77M | -5.59M | -7.48M | -8.02M | -6.9M | -6.26M | -6.97M | -10.09M | -12.23M | -8.9M | -7.43M | -6.68M | -6.43M | -6.42M | -7.75M | -6.94M | -5.98M |
| CapEx % of Revenue | 0.38% | 0.39% | 0.55% | 0.41% | 0.41% | 0.46% | 0.5% | 0.41% | 0.42% | 0.42% | 0.62% | 0.78% | 0.69% | 0.37% | 0.42% | 0.45% | 0.5% | 0.52% | 0.55% | 0.47% |
| Acquisitions | 94K | 67K | -11.7M | 0 | -5.85M | -8.1M | -130K | -5.03M | -1.59M | -2.13M | -2.58M | -1.28M | 128K | -122K | -21K | -5.65M | 0 | -1.71M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 58K | -3.43M | 29K | 2.95M | -3.65M | 51K | 79K | 183K | 106K | 100K | 43K | 153K | 81K | 69K | 178K | 147K | 112K | 208K |
| Cash from Financing | -102.1M | -180.79M | -85.58M | -84.69M | 414.09M | -67.8M | -57.57M | 217.44M | -90.09M | -14.09M | -206.13M | -11.97M | -20.09M | -5.5M | -3.15M | -17.22M | -103.88M | -31.26M | -10.02M | 103.24M |
| Debt Issued (Net) | -33K | -1.48M | -309K | -9.1M | 495.05M | 60.71M | -405K | 261.99M | -6.92M | -182K | -151.29M | -2.04M | -168K | -5.5M | -3.15M | -7.22M | -4.58M | -7.28M | -550K | 122.4M |
| Equity Issued (Net) | -130M | -150M | -55M | -45M | -45M | -40M | -30M | 0 | -55.93M | -4.07M | -45M | 0 | -10M | 0 | 0 | -10M | -99.3M | -23.98M | -9.47M | -19.16M |
| Dividends Paid | -32.02M | -29.31M | -30.27M | -30.6M | -30.89M | -26.97M | -27.14M | -27.25M | -27.24M | -9.84M | -9.84M | -9.93M | -9.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -130M | -150M | -55M | -45M | -45M | -40M | -30M | 0 | -55.93M | -4.07M | -45M | 0 | -10M | 0 | 0 | -10M | -99.3M | -23.98M | -9.47M | -19.16M |
| Other Financing | 59.95M | 0 | 0 | 0 | -5.07M | -61.54M | -29K | -17.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -8.53M | 46.22M | -201.53M | -81.19M | 360.1M | -180M | -161.36M | 87.62M | -15.93M | -127.53M | -114.49M | 206.03M | 95.65M | 562.17M | 27.24M | -248.25M | -97.94M | 56.04M | -122.08M | -32.06M |
| Free Cash Flow | 97M | 238.1M | -104.3M | 6.93M | -48.17M | -107.05M | -100.01M | -124.85M | 75.67M | -111.49M | 94.12M | 219.18M | 115.57M | 567.64M | 30.33M | -225.44M | 5.76M | 88.86M | -112.17M | -135.5M |
| FCF Margin % | 8.63% | 16.58% | -7.32% | 0.42% | -3.53% | -6.6% | -6.26% | -7.34% | 5.13% | -6.71% | 5.81% | 13.93% | 8.99% | 28.4% | 1.91% | -15.9% | 0.45% | 5.91% | -8.87% | -10.56% |
| FCF Growth % | 301.38% | 322.42% | -4.28% | 105.55% | -163.65% | 3.99% | -206.26% | -156.96% | -34.52% | -119.64% | 210.29% | 197.22% | 1904.74% | 538.81% | 127.04% | -66.38% | 130.44% | -41.58% | -185.49% | -171.88% |
| FCF per Share | 1.44 | 3.41 | -1.48 | 0.10 | -0.66 | -1.46 | -1.36 | -1.70 | 1.03 | -1.51 | 1.27 | 2.95 | 1.56 | 7.67 | 0.41 | -3.05 | 0.08 | 1.17 | -1.47 | -1.77 |
| FCF Conversion (FCF/Net Income) | 1.83x | 2.90x | -0.97x | 0.09x | -0.35x | -0.58x | -0.47x | -0.51x | 0.44x | -0.53x | 0.47x | 1.24x | 0.95x | 2.19x | 0.14x | -0.88x | 0.06x | 0.41x | -0.52x | -0.77x |
| Interest Paid | 0 | 0 | 4.91M | 0 | 0 | 0 | 12.47M | 0 | 0 | 0 | 11.97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 152.62M | 0 |
| Taxes Paid | 0 | 0 | 0 | 90.91M | 107K | 25.22M | 67.91M | 114.27M | 204K | 0 | 58.43M | 86.59M | 1K | 0 | 0 | 168.46M | 3K | 68.26M | 69.72M | 83.13M |