Meritage Homes Corporation (MTH)

Name: Meritage Homes Corporation Financial Statements
Creator: Quarter Results

Consumer Cyclical | Residential Construction

Latest reporting period: 2026-03-31

Latest Quarter

2026-03-31

Revenue

$1.1B

Net Income

$55.3M

Operating Margin

5.8%

Free Cash Flow

$92.6M

Debt / Assets

32.1%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Meritage Homes Corporation (MTH).
Income Statement (Quarterly)	2026-03-31	2025-03-31	2024-12-31	2024-09-30
Revenue	1,123,468,000	1,365,280,000	1,624,470,000	1,588,449,000
Cost of Revenue	923,385,000	1,062,902,000	1,244,164,000	1,198,910,000
Gross Profit	196,191,000	302,378,000	380,306,000	389,539,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	51,402,000	151,717,000	67,742,000	157,096,000
Operating Expenses	130,874,000	151,717,000	172,698,000	396,346,000
Operating Income	65,316,999	150,661,000	207,608,000	239,250,000
Interest Expense	587,000	0	0	0
Income Before Tax	72,524,000	160,159,000	221,562,000	249,932,000
Income Tax Expense	17,215,000	37,353,000	48,913,000	53,966,000
Net Income	55,309,000	122,806,000	172,649,000	195,966,000
Per Share
EPS	0.82	1.71	4.78	5.41
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Meritage Homes Corporation (MTH).
Income Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	5,857,637,000	6,392,939,000	6,138,263,000	6,298,154,000	5,147,326,000
Cost of Revenue	4,688,243,000	4,794,669,000	4,618,585,000	4,495,259,000	3,711,998,000
Gross Profit	1,153,644,000	1,598,270,000	1,519,678,000	1,802,895,000	1,435,328,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	211,762,000	639,925,000	616,633,000	516,250,000	466,852,000
Operating Expenses	616,167,000	639,925,000	616,633,000	516,250,000	466,852,000
Operating Income	537,477,000	958,345,000	902,389,000	1,289,359,000	968,476,000
Interest Expense	0	0	0	41,000	318,000
Income Before Tax	584,600,000	1,002,870,000	949,430,000	1,289,318,000	954,834,000
Income Tax Expense	131,586,999	216,684,000	210,682,000	297,126,000	217,390,000
Net Income	453,013,000	786,186,000	738,748,000	992,192,000	737,444,000
Per Share
EPS	6.40	10.85	20.17	27.04	19.55
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Meritage Homes Corporation (MTH).
Balance Sheet (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Assets
Cash and Cash Equivalents	775,157,000	651,555,000	921,227,000	861,561,000
Short Term Investments	0	0	0	11,753,000
Net Receivables	306,956,000	256,282,000	266,972,000	215,019,000
Inventory	6,161,290,000	5,728,775,000	4,721,291,000	4,358,263,000
Total Current Assets	7,243,403,000	6,829,017,000	6,020,854,000	5,676,261,000
Property Plant Equipment	103,632,000	47,285,000	48,953,000	38,635,000
Goodwill and Intangibles	32,962,000	203,093,000	218,584,000	164,689,000
Total Assets	7,652,599,000	7,162,654,000	6,353,134,000	5,772,101,000
Liabilities
Account Payables	200,679,000	212,477,000	271,650,000	273,267,000
Short Term Debt	60,470,000	55,825,000	9,518,000	0
Total Current Liabilities	597,590,000	596,685,000	271,650,000	671,843,000
Long Term Debt	1,829,054,000	1,382,189,000	1,052,737,000	1,150,647,000
Total Liabilities	2,456,956,000	2,021,081,000	1,741,234,000	1,822,490,000
Shareholders Equity
Retained Earnings	5,194,961,000	4,998,177,000	4,320,581,000	3,621,367,000
Total Shareholders Equity	5,195,643,000	5,141,573,000	4,611,900,000	3,949,611,000

Balance sheet annual history for Meritage Homes Corporation (MTH).
Balance Sheet (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets
Cash and Cash Equivalents	775,157,000	651,555,000	921,227,000	861,561,000	618,335,000
Short Term Investments	0	0	0	11,753,000	5,764,000
Net Receivables	306,956,000	256,282,000	266,972,000	215,019,000	147,548,000
Inventory	6,161,290,000	5,728,775,000	4,721,291,000	4,358,263,000	3,734,408,000
Total Current Assets	7,243,403,000	6,829,017,000	6,020,854,000	5,676,261,000	4,590,970,000
Property Plant Equipment	103,632,000	47,285,000	48,953,000	38,635,000	37,340,000
Goodwill and Intangibles	32,962,000	203,093,000	218,584,000	164,689,000	124,776,000
Total Assets	7,652,599,000	7,162,654,000	6,353,134,000	5,772,101,000	4,807,533,000
Liabilities
Account Payables	200,679,000	212,477,000	271,650,000	273,267,000	216,009,000
Short Term Debt	60,470,000	55,825,000	9,518,000	0	0
Total Current Liabilities	597,590,000	596,685,000	271,650,000	671,843,000	543,461,000
Long Term Debt	1,829,054,000	1,382,189,000	1,052,737,000	1,150,647,000	1,186,209,000
Total Liabilities	2,456,956,000	2,021,081,000	1,741,234,000	1,822,490,000	1,763,144,000
Shareholders Equity
Retained Earnings	5,194,961,000	4,998,177,000	4,320,581,000	3,621,367,000	2,629,175,000
Total Shareholders Equity	5,195,643,000	5,141,573,000	4,611,900,000	3,949,611,000	3,044,389,000

Cash flow quarterly history for Meritage Homes Corporation (MTH).
Cash Flow Statement (Quarterly)	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Operating Activities
Net Income	453,013,000	786,186,000	738,748,000	992,192,000
Depreciation & Amortization	25,285,000	25,959,000	25,334,000	24,748,000
Stock Based Compensation	19,683,000	25,809,000	22,511,000	22,333,000
Change in Working Capital	-438,695,000	-1,078,857,000	-436,464,000	-644,673,000
Operating Cash Flow	118,288,000	-227,576,000	355,572,000	405,270,000
Investing Activities
Capital Expenditure	-25,722,000	-28,658,000	-38,192,000	-26,971,000
Investments	-25,722,000	-28,658,000	-38,192,000	-26,971,000
Investing Cash Flow	-57,699,000	-44,074,000	-43,623,000	-32,286,000
Financing Activities
Debt Repayment	479,084,000	315,372,000	-153,682,000	-20,455,000
Common Stock Issued/Repurchased	-294,999,000	-125,932,000	-59,067,000	-109,303,000
Dividends Paid	-121,072,000	-108,590,000	-39,534,000	0
Financing Cash Flow	63,013,000	1,978,000	-252,283,000	-129,758,000
Summary
Free Cash Flow	92,566,000	-256,234,000	317,380,000	378,299,000
Net Change in Cash	123,602,000	-269,672,000	59,666,000	243,226,000

Cash flow annual history for Meritage Homes Corporation (MTH).
Cash Flow Statement (Annual)	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Activities
Net Income	453,013,000	786,186,000	738,748,000	992,192,000	737,444,000
Depreciation & Amortization	25,285,000	25,959,000	25,334,000	24,748,000	26,245,000
Stock Based Compensation	19,683,000	25,809,000	22,511,000	22,333,000	20,069,000
Change in Working Capital	-438,695,000	-1,078,857,000	-436,464,000	-644,673,000	-951,421,000
Operating Cash Flow	118,288,000	-227,576,000	355,572,000	405,270,000	-152,092,000
Investing Activities
Capital Expenditure	-25,722,000	-28,658,000	-38,192,000	-26,971,000	-25,664,000
Investments	-25,722,000	-28,658,000	-38,192,000	-26,971,000	-25,664,000
Investing Cash Flow	-57,699,000	-44,074,000	-43,623,000	-32,286,000	-26,821,000
Financing Activities
Debt Repayment	479,084,000	315,372,000	-153,682,000	-20,455,000	-331,279,000
Common Stock Issued/Repurchased	-294,999,000	-125,932,000	-59,067,000	-109,303,000	-60,992,000
Dividends Paid	-121,072,000	-108,590,000	-39,534,000	0	0
Financing Cash Flow	63,013,000	1,978,000	-252,283,000	-129,758,000	51,627,000
Summary
Free Cash Flow	92,566,000	-256,234,000	317,380,000	378,299,000	-177,756,000
Net Change in Cash	123,602,000	-269,672,000	59,666,000	243,226,000	-127,286,000