Meritage Homes Corporation (MTH) quarterly income statement — complete revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | 1.12B | 1.44B | 1.42B | 1.63B | 1.36B | 1.62B | 1.6B | 1.7B | 1.47B | 1.66B | 1.62B | 1.57B | 1.29B | 2B | 1.58B | 1.42B | 1.29B | 1.5B | 1.27B | 1.28B |
| Revenue Growth % | -17.67% | -11.47% | -10.79% | -4.03% | -7.47% | -2.33% | -1.4% | 8.16% | 14.76% | -16.93% | 2.2% | 11.01% | -0.51% | 32.86% | 25.23% | 10.46% | 18.66% | 6.27% | 10.68% | 23.68% |
| Cost of Goods Sold | 923.38M | 1.2B | 1.15B | 1.29B | 1.06B | 1.24B | 1.2B | 1.26B | 1.1B | 1.24B | 1.18B | 1.2B | 998.22M | 1.49B | 1.13B | 968.05M | 899.83M | 1.06B | 888.45M | 933.68M |
| COGS % of Revenue | 82.19% | 83.61% | 80.64% | 78.8% | 77.84% | 76.55% | 75.17% | 73.89% | 74.42% | 74.58% | 73.1% | 76.19% | 77.68% | 74.7% | 71.22% | 68.29% | 69.67% | 70.74% | 70.23% | 72.76% |
| Gross Profit | 193.8M | 235.26M | 271.63M | 346.22M | 302.38M | 380.31M | 396.35M | 444.34M | 377.27M | 422.07M | 435.52M | 374.6M | 286.82M | 505.76M | 455.89M | 449.47M | 391.78M | 440.22M | 376.66M | 349.58M |
| Gross Margin % | 17.25% | 16.39% | 19.07% | 21.2% | 22.16% | 23.45% | 24.83% | 26.11% | 25.58% | 25.42% | 26.9% | 23.81% | 22.32% | 25.3% | 28.78% | 31.71% | 30.33% | 29.26% | 29.77% | 27.24% |
| Gross Profit Growth % | -35.91% | -38.14% | -31.47% | -22.08% | -19.85% | -9.9% | -9% | 18.62% | 31.54% | -16.55% | -4.47% | -16.66% | -26.79% | 14.89% | 21.03% | 28.57% | 44.59% | 26.56% | 51.64% | 56.74% |
| Operating Expenses | 51.4M | 148.93M | 151.51M | 164.01M | 151.72M | 172.7M | 157.1M | 157.85M | 152.28M | 176.12M | 162.21M | 147.94M | 130.37M | 167.07M | 126.33M | 117.31M | 105.53M | 127.97M | 116.14M | 117.05M |
| OpEx % of Revenue | 4.58% | 10.37% | 10.64% | 10.04% | 11.12% | 10.65% | 9.84% | 9.27% | 10.33% | 10.61% | 10.02% | 9.4% | 10.14% | 8.36% | 7.97% | 8.28% | 8.17% | 8.51% | 9.18% | 9.12% |
| Selling, General & Admin | 51.4M | 148.93M | 151.51M | 164.01M | 151.72M | 172.7M | 157.1M | 157.85M | 152.28M | 176.12M | 162.21M | 147.94M | 130.37M | 167.07M | 126.33M | 117.31M | 105.53M | 127.97M | 116.14M | 117.05M |
| SG&A % of Revenue | 4.58% | 10.37% | 10.64% | 10.04% | 11.12% | 10.65% | 9.84% | 9.27% | 10.33% | 10.61% | 10.02% | 9.4% | 10.14% | 8.36% | 7.97% | 8.28% | 8.17% | 8.51% | 9.18% | 9.12% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 65.32M | 86.33M | 120.12M | 182.21M | 150.66M | 207.61M | 239.25M | 286.49M | 224.99M | 245.96M | 273.31M | 226.66M | 156.46M | 338.69M | 329.56M | 332.15M | 286.24M | 312.25M | 260.52M | 232.54M |
| Operating Margin % | 5.81% | 6.01% | 8.43% | 11.15% | 11.04% | 12.8% | 14.99% | 16.83% | 15.26% | 14.81% | 16.88% | 14.4% | 12.18% | 16.94% | 20.8% | 23.43% | 22.16% | 20.76% | 20.59% | 18.12% |
| Operating Income Growth % | -56.65% | -58.41% | -49.79% | -36.4% | -33.04% | -15.59% | -12.46% | 26.4% | 43.8% | -27.38% | -17.07% | -31.76% | -45.34% | 8.47% | 26.5% | 42.84% | 73.2% | 43.98% | 93.88% | 99.68% |
| EBITDA | 70.69M | 93.02M | 126.11M | 188.87M | 156.61M | 214.21M | 245.8M | 293.27M | 231.03M | 253.72M | 279.69M | 232.65M | 161.67M | 345.89M | 335.39M | 338.12M | 292M | 318.6M | 267M | 239.42M |
| EBITDA Margin % | 6.29% | 6.48% | 8.85% | 11.56% | 11.48% | 13.21% | 15.4% | 17.23% | 15.67% | 15.28% | 17.27% | 14.78% | 12.58% | 17.31% | 21.17% | 23.85% | 22.61% | 21.18% | 21.1% | 18.66% |
| EBITDA Growth % | -54.86% | -56.58% | -48.69% | -35.6% | -32.21% | -15.57% | -12.12% | 26.06% | 42.91% | -26.65% | -16.61% | -31.19% | -44.63% | 8.56% | 25.61% | 41.22% | 69.96% | 41.33% | 87.61% | 93.09% |
| D&A (Non-Cash Add-back) | 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 |
| EBIT | 65.32M | 103.13M | 128.25M | 182.21M | 150.66M | 207.61M | 239.25M | 286.49M | 224.99M | 245.96M | 273.31M | 226.66M | 156.46M | 338.69M | 329.56M | 332.15M | 286.24M | 312.25M | 260.52M | 232.54M |
| Net Interest Income | -587K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -41K | -72K | -79K | -77K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 587K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41K | 72K | 79K | 77K |
| Other Income/Expense | 7.21M | 16.8M | 8.13M | 10.85M | 9.5M | 13.95M | 10.68M | 10.87M | 9.02M | 12.91M | 12.42M | 12.86M | 8.84M | 3.56M | -74K | -458K | -358K | -751K | 1.19M | -16.89M |
| Pretax Income | 72.52M | 103.13M | 128.25M | 193.06M | 160.16M | 221.56M | 249.93M | 297.36M | 234.01M | 258.87M | 285.73M | 239.52M | 165.3M | 342.25M | 329.49M | 331.69M | 285.88M | 311.5M | 261.71M | 215.65M |
| Pretax Margin % | 6.46% | 7.18% | 9.01% | 11.82% | 11.74% | 13.66% | 15.65% | 17.47% | 15.87% | 15.59% | 17.65% | 15.22% | 12.86% | 17.12% | 20.8% | 23.4% | 22.13% | 20.71% | 20.69% | 16.8% |
| Income Tax | 17.21M | 19.1M | 28.95M | 46.18M | 37.35M | 48.91M | 53.97M | 65.81M | 48M | 60.02M | 63.97M | 52.69M | 34M | 79.88M | 67M | 81.61M | 68.63M | 74.04M | 60.96M | 48.26M |
| Effective Tax Rate % | 23.74% | 18.52% | 22.57% | 23.92% | 23.32% | 22.08% | 21.59% | 22.13% | 20.51% | 23.18% | 22.39% | 22% | 20.57% | 23.34% | 20.34% | 24.6% | 24.01% | 23.77% | 23.29% | 22.38% |
| 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 |
| Net Margin % | 4.92% | 5.85% | 6.97% | 8.99% | 9% | 10.65% | 12.27% | 13.6% | 12.61% | 11.98% | 13.7% | 11.87% | 10.22% | 13.13% | 16.57% | 17.64% | 16.82% | 15.78% | 15.87% | 13.04% |
| Net Income Growth % | -54.96% | -51.33% | -49.33% | -36.57% | -33.98% | -13.18% | -11.63% | 23.93% | 41.67% | -24.21% | -15.52% | -25.29% | -39.56% | 10.49% | 30.75% | 49.4% | 64.78% | 55.68% | 83.98% | 84.6% |
| Net Income (Continuing) | 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 |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.82 | 1.20 | 1.39 | 2.04 | 1.69 | 2.36 | 2.67 | 3.16 | 2.53 | 2.69 | 2.99 | 2.51 | 1.77 | 3.55 | 3.55 | 3.39 | 2.90 | 3.13 | 2.63 | 2.18 |
| EPS Growth % | -51.48% | -49.15% | -47.94% | -35.44% | -33.2% | -12.27% | -10.7% | 25.9% | 42.94% | -24.12% | -15.77% | -25.85% | -38.86% | 13.44% | 35.24% | 55.28% | 68.31% | 57.43% | 84.86% | 83.19% |
| EPS (Basic) | 0.82 | 1.21 | 1.40 | 2.05 | 1.71 | 2.39 | 2.71 | 3.19 | 2.56 | 2.73 | 3.03 | 2.54 | 1.79 | 3.59 | 3.59 | 3.41 | 2.94 | 3.18 | 2.67 | 2.22 |
| Diluted Shares Outstanding | 67.37M | 69.8M | 70.68M | 71.68M | 72.65M | 73.33M | 73.34M | 73.44M | 73.56M | 73.89M | 74.16M | 74.38M | 74.24M | 74.02M | 73.89M | 73.92M | 75.05M | 75.99M | 76.46M | 76.75M |
| Basic Shares Outstanding | 67.37M | 69.25M | 70.68M | 71.68M | 71.92M | 72.48M | 72.45M | 72.64M | 72.62M | 72.89M | 73.21M | 73.53M | 73.33M | 73.14M | 73.14M | 73.29M | 73.99M | 74.67M | 75.29M | 75.64M |
| Dividend Payout Ratio | 57.89% | 34.88% | 30.49% | 20.83% | 25.15% | 15.62% | 13.85% | 11.77% | 14.64% | 4.95% | 4.44% | 5.31% | 7.56% | - | - | - | - | - | - | - |