For the twelve months ended Sep 30, 2026, Meritage Homes Corporation reported $297.75M of net income.
MTH net income was $67.78M in fiscal Q3 2026 (ended Sep 30, 2026), down 31.7% from a year earlier and down 25.2% from the prior quarter. For the full fiscal 2025 it was $453.01M, down 42.4% from fiscal 2024. Compound annual growth was +1.4% over 5 years and +13.4% over 10 years. It rose in 7 of the last 10 fiscal years.
MTH diluted EPS was $1.04 in fiscal Q3 2026 (ended Sep 30, 2026), down 25.2% from a year earlier and down 24.1% from the prior quarter. For the full fiscal 2025 it was $6.35, down 40.8% from fiscal 2024. Compound annual growth was +2.9% over 5 years and +15.2% over 10 years.
MTH free cash flow was -$35.30M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$104.30M a year earlier. For the full fiscal 2025 it was $92.57M, compared with -$256.23M in fiscal 2024. Compound annual growth was -28.9% over 5 years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | $3.23B | $3.03B |
| Gross profit | - | - | - | - | - | - | - | - | $566.50M | $531.21M |
| Selling, general and admin | $211.76M | $230.86M | $231.72M | $192.98M | $181.45M | $159.02M | $146.09M | $138.48M | $124.04M | $123.80M |
| Interest expense | $0 | $0 | $0 | $41.0K | $318.0K | $2.18M | $8.37M | $785.0K | $3.85M | $5.17M |
| Pre-tax income | $584.60M | $1.00B | $949.43M | $1.29B | $954.83M | $533.57M | $302.94M | $283.25M | $247.52M | $218.06M |
| Income tax | $131.59M | $216.68M | $210.68M | $297.13M | $217.39M | $110.09M | $53.28M | $55.92M | $104.26M | $68.52M |
| Net income | $453.01M | $786.19M | $738.75M | $992.19M | $737.44M | $423.48M | $249.66M | $227.33M | $143.25M | $149.54M |
| EPS, basic | $6.40 | $10.85 | $10.09 | $13.52 | $9.80 | $5.62 | $3.27 | $2.83 | $1.78 | $1.87 |
| EPS, diluted | $6.35 | $10.72 | $9.96 | $13.37 | $9.64 | $5.50 | $3.21 | $2.79 | $1.71 | $1.77 |
| Diluted shares | 71.3M | 73.3M | 74.1M | 74.2M | 76.5M | 77.0M | 77.8M | 81.5M | 84.5M | 85.2M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $775.16M | $651.55M | $921.23M | $861.56M | $618.34M | $745.62M | $319.47M | $311.47M | $170.75M | $131.70M |
| Goodwill | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M |
| Total assets | $7.62B | $7.16B | $6.35B | $5.77B | $4.81B | $3.86B | $3.40B | $3.37B | $3.25B | $2.89B |
| Total liabilities | $2.43B | $2.02B | $1.74B | $1.82B | $1.76B | $1.52B | $1.42B | $1.64B | $1.67B | $1.47B |
| Shareholders' equity | $5.20B | $5.14B | $4.61B | $3.95B | $3.04B | $2.35B | $1.97B | $1.72B | $1.58B | $1.42B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $118.29M | -$227.58M | $355.57M | $405.27M | -$152.09M | $530.36M | $346.82M | $262.20M | -$87.13M | -$103.40M |
| Capital expenditures | $25.72M | $28.66M | $38.19M | $26.97M | $25.66M | $19.93M | $24.39M | $33.41M | $18.10M | $16.66M |
| Free cash flow | $92.57M | -$256.23M | $317.38M | $378.30M | -$177.76M | $510.43M | $322.44M | $228.78M | -$105.23M | -$120.06M |
| Investing cash flow | -$57.70M | -$44.07M | -$43.62M | -$32.29M | -$26.82M | -$18.23M | -$13.49M | -$33.53M | -$17.07M | -$20.11M |
| Financing cash flow | $63.01M | $1.98M | -$252.28M | -$129.76M | $51.63M | -$85.97M | -$325.33M | -$87.95M | $143.25M | -$7.00M |
| Dividends paid | $121.07M | $108.59M | $39.53M | $0 | $0 | - | - | - | - | - |
| Share repurchases | $295.00M | $125.93M | $59.07M | $109.30M | $60.99M | $69.59M | $16.04M | $100.00M | $0 | $0 |
| Stock-based compensation | $19.68M | $25.81M | $22.51M | $22.33M | $20.07M | $20.00M | $19.61M | $17.17M | $12.06M | $13.74M |
| Depreciation and amortization | $25.29M | $25.96M | $25.33M | $24.75M | $26.25M | $31.05M | $27.92M | $26.97M | $16.70M | $15.98M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | - | - | - | - | 6.5% | 18.0% |
| Net income growth, YoY | -42.4% | 6.4% | -25.5% | 34.5% | 74.1% | 69.6% | 9.8% | 58.7% | -4.2% | 16.2% |
| EPS growth, YoY | -40.8% | 7.6% | -25.5% | 38.6% | 75.4% | 71.3% | 15.1% | 63.6% | -3.9% | 14.9% |
| Gross margin | - | - | - | - | - | - | - | - | 17.6% | 17.5% |
| Net margin | - | - | - | - | - | - | - | - | 4.4% | 4.9% |
| Free cash flow margin | - | - | - | - | - | - | - | - | -3.3% | -4.0% |
| Return on equity | 8.7% | 15.3% | 16.0% | 25.1% | 24.2% | 18.0% | 12.6% | 13.2% | 9.1% | 10.5% |
| Return on assets | 5.9% | 11.0% | 11.6% | 17.2% | 15.3% | 11.0% | 7.3% | 6.8% | 4.4% | 5.2% |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selling, general and admin | $45.17M | $52.38M | $51.40M | $47.80M | $51.79M | $55.18M | $57.00M | $67.74M | $59.20M | $53.18M | $50.73M | $68.97M |
| Interest expense | $1.35M | $2.19M | $587.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Pre-tax income | $84.81M | $120.56M | $72.52M | $103.13M | $128.25M | $193.06M | $160.16M | $221.56M | $249.93M | $297.36M | $234.01M | $258.87M |
| Income tax | $17.03M | $29.93M | $17.21M | $19.10M | $28.95M | $46.18M | $37.35M | $48.91M | $53.97M | $65.81M | $48.00M | $60.02M |
| Net income | $67.78M | $90.63M | $55.31M | $84.03M | $99.30M | $146.88M | $122.81M | $172.65M | $195.97M | $231.56M | $186.02M | $198.85M |
| EPS, basic | $1.05 | $1.38 | $0.82 | $1.23 | $1.40 | $2.06 | $1.71 | $2.40 | $2.70 | $3.19 | $2.56 | $2.73 |
| EPS, diluted | $1.04 | $1.37 | $0.82 | $1.23 | $1.39 | $2.04 | $1.69 | $2.37 | $2.67 | $3.15 | $2.53 | $2.69 |
| Diluted shares | 65.1M | 66.1M | 67.8M | - | 71.2M | 71.9M | 72.7M | - | 73.3M | 73.4M | 73.6M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $677.50M | $807.27M | $766.63M | $775.16M | $728.94M | $930.46M | $1.01B | $651.55M | $831.56M | $992.92M | $905.30M | $921.23M |
| Goodwill | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M | $32.96M |
| Total assets | $7.59B | $7.55B | $7.55B | $7.62B | $7.76B | $7.76B | $7.70B | $7.16B | $7.10B | $6.92B | $6.49B | $6.35B |
| Total liabilities | $2.55B | $2.50B | $2.46B | $2.43B | $2.47B | $2.49B | $2.51B | $2.02B | $2.07B | $2.04B | $1.77B | $1.74B |
| Shareholders' equity | $5.04B | $5.06B | $5.09B | $5.20B | $5.29B | $5.27B | $5.19B | $5.14B | $5.03B | $4.88B | $4.72B | $4.61B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$31.26M | $189.47M | $101.31M | $243.67M | -$96.51M | $13.70M | -$42.58M | -$99.56M | -$92.00M | -$117.95M | $81.93M | -$104.52M |
| Capital expenditures | $4.04M | $5.57M | $4.31M | $5.58M | $7.79M | $6.77M | $5.59M | $7.48M | $8.02M | $6.90M | $6.26M | $6.97M |
| Free cash flow | -$35.30M | $183.90M | $97.00M | $238.10M | -$104.30M | $6.93M | -$48.17M | -$107.05M | -$100.01M | -$124.85M | $75.67M | -$111.49M |
| Investing cash flow | -$9.33M | -$17.54M | -$7.73M | -$16.66M | -$19.43M | -$10.20M | -$11.41M | -$12.64M | -$11.80M | -$11.87M | -$7.76M | -$8.92M |
| Financing cash flow | -$89.18M | -$131.30M | -$102.10M | -$180.79M | -$85.58M | -$84.69M | $414.09M | -$67.80M | -$57.57M | $217.44M | -$90.09M | -$14.09M |
| Dividends paid | $30.92M | $31.28M | $32.02M | $29.31M | $30.27M | $30.60M | $30.89M | $26.97M | $27.14M | $27.25M | $27.24M | $9.84M |
| Share repurchases | $55.00M | $100.00M | $130.00M | $150.00M | $55.00M | $45.00M | $45.00M | $40.00M | $30.00M | $0 | $55.93M | $4.07M |
| Stock-based compensation | $5.11M | $5.82M | $5.86M | $4.90M | $4.86M | $3.60M | $6.33M | $6.50M | $8.47M | $4.72M | $6.11M | $5.95M |
| Depreciation and amortization | $5.52M | $6.08M | $5.37M | $6.68M | $5.99M | $6.66M | $5.95M | $6.60M | $6.55M | $6.77M | $6.04M | $7.76M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income growth, YoY | -31.7% | -38.3% | -55.0% | -51.3% | -49.3% | -36.6% | -34.0% | -13.2% | -11.6% | 23.9% | 41.7% | -24.2% |
| EPS growth, YoY | -25.2% | -32.8% | -51.5% | -48.1% | -47.9% | -35.2% | -33.2% | -11.9% | -10.7% | 25.5% | 42.9% | -24.0% |
Source: XBRL data Meritage Homes Corporation files with the SEC, latest filing dated Oct 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Feb 20, 2025.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| MTH | - | - | $297.75M | - | $4.38B |
| DHI | $33.35B | -3.5% | $3.07B | 9.2% | $42.59B |
| LEN | $31.97B | -8.0% | $1.31B | 4.1% | $21.11B |
| MHO | $4.21B | -6.0% | $277.42M | 6.6% | $3.29B |
| KBH | $5.18B | -20.8% | $227.57M | 4.4% | $3.08B |