What does M/I Homes do?

M/I Homes builds and sells single-family houses and attached townhomes in nine U.S. states across the Midwest and South, including Ohio, Texas, Florida and North Carolina. It sells to many kinds of buyers, from first-time buyers and growing families to empty-nesters and luxury buyers. It also offers mortgages and title insurance services to the people who buy its homes.

What is M/I Homes's fair value?

On an owner-earnings DCF, M/I Homes's most-likely fair value is about $121, versus a recent price near $128. A margin-of-safety estimate, not a price target. Analysis, not advice.

Consumer Cyclical · Residential Construction · MHO

What M/I Homes Does & How It Makes Money (MHO)

Updated October 2026 · reflects M/I Homes's latest reported financials

Ohio-based homebuilder selling single-family homes and townhomes across nine states. The company earns most of its revenue by selling the homes it builds on land it buys and develops, and it also sells some developed lots to other builders.

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How M/I Homes makes money

The company earns most of its revenue by selling the homes it builds on land it buys and develops, and it also sells some developed lots to other builders. Its financial services arm adds income by originating and selling mortgages and by acting as a title insurance agent and closing agent for its homebuyers.

What M/I Homes does

M/I Homes, Inc. is a U.S. homebuilder founded in 1976 and based in Columbus, Ohio. Under the M/I Homes brand, it designs, builds and sells single-family homes and attached townhomes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina and Tennessee. Its buyers range from first-time and move-up buyers to empty-nesters, multi-generational households and luxury buyers. The company was called M/I Schottenstein Homes, Inc. until it changed its name in January 2004. The business reports three segments: Northern Homebuilding, Southern Homebuilding and Financial Services. It buys undeveloped land and turns it into lots, mostly for its own homes but sometimes to sell to others. Its financial services arm originates and sells mortgages and works as a title insurance agent, providing title policies, title examination and closing services to its homebuyers.

Products & services

M/I Homes single-family homes
Attached townhomes
Developed residential lots
Mortgage origination
Title insurance and closing services

What is M/I Homes worth?

On an owner-earnings DCF, M/I Homes's most-likely value is about $121 versus a recent price near $128 (5% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$71) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.

Verdict: Fairly priced — no edge

Owner-earnings fair value · recent price ≈ $128

Fair value (most likely)

$121

Range

$92–$175

No-growth floor

$71

Price

~$128

Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.

Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →

Sector Consumer Cyclical Industry Residential Construction HQ United States Ticker MHO Official site

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