MTHMeritage Homes CORP
Operative Builders
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $228M net debt
- AI in 10-K
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Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired26% of net incomeCash flow under 80% of net income
- Dilutive SBCClear—Over 10% of revenue
- Payouts exceed cash flowFired352% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $737M | $992M | $739M | $786M | $453M | 42% |
| Operating cash flow | −$152M | $405M | $356M | −$228M | $118M | 152% |
| Capex | $26M | $27M | $38M | $29M | $26M | 10% |
| Stock-based comp | $20M | $22M | $23M | $26M | $20M | 24% |
| Buybacks | $61M | $109M | $59M | $126M | $295M | 134% |
| Dividends | $0 | $0 | $40M | $109M | $121M | 11% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $3M · 6
- Net
- −$3M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $8M | $4M | 163 | 205 |
| FY2024 | $12M | $10M | 257 | 252 |
| FY2023 | $11M | $22M | 287 | 255 |
| FY2022 | $8M | $5M | 151 | 143 |
| FY2021 | $8M | $14M | 200 | 185 |