M/I Homes, Inc. MHO

Competitive advantage analysis · consumer-cyclical

Corporate Default
Overall moat score
68/100
Moderate

Ranked against 21 peers in Residential Construction

About M/I Homes, Inc.

M/I Homes, Inc., together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments. It also designs, constructs, markets, and sells single-family homes and attached townhomes to first-time, move-up, empty-nester, multi-generational, and luxury … Full MHO analysis →

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 1.00), demonstrating pricing resilience across cycles.
  • ROIC Sustainably Above Peers ROIC at 66.7th percentile exceeds peers and WACC, demonstrating superior capital allocation.

Key risks

  • Inconsistent Cash Generation Cash generation is inconsistent (score 0.43), indicating operational challenges.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

Upgrade to unlock the signals and evidence behind each defense.

Premium access

Unlock full defense analysis

Get key signals, strengths, and risks for every moat dimension.

Upgrade to Premium Unlock all moat defenses and evidence.

Pricing Power

Strong
83
Premium

Signals, strengths and risks for Pricing Power

Premium

Signals, strengths and risks for Cost Advantage

Premium

Signals, strengths and risks for Customer Stickiness

Premium

Signals, strengths and risks for Capital Efficiency

Premium

Signals, strengths and risks for Resilience

Premium

Signals, strengths and risks for Scale & Market Position

Where MHO ranks in Residential Construction

M/I Homes, Inc. ranks #8 of 22 scored companies in Residential Construction by moat score — the top 36%. The widest moat in the group is PulteGroup, Inc. (PHM) at 80/100.

# Company Moat score Rating
4 Toll Brothers, Inc. TOL 76/100 Strong
5 Installed Building Products, In IBP 70/100 Moderate
6 Legacy Housing Corporation LEGH 70/100 Moderate
7 Taylor Morrison Home Corporatio TMHC 69/100 Moderate
8 M/I Homes, Inc. MHO 68/100 Moderate
9 Cavco Industries, Inc. CVCO 64/100 Moderate
10 D.R. Horton, Inc. DHI 57/100 Moderate
11 KB Home KBH 50/100 Moderate
12 Champion Homes, Inc. SKY 50/100 Developing

See every General Corporate company ranked by moat score →

How MHO scores on the Corporate Default defenses

Pricing Power

Score 83 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 52 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 66 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 63 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 67 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 69 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding MHO's moat

What is M/I Homes, Inc.'s moat score?

M/I Homes, Inc. (MHO) scores 68 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #8 of 22 scored companies in Residential Construction, the top 36%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 21 companies in Residential Construction. Its strongest defense is Pricing Power (83/100) and its weakest is Cost Advantage (52/100).

How does M/I Homes, Inc. compare with other Residential Construction companies?

M/I Homes, Inc. ranks #8 of 22 scored companies in Residential Construction by moat score. The widest moat in Residential Construction is PulteGroup, Inc. (PHM) at 80/100. The companies ranked closest are Taylor Morrison Home Corporatio (TMHC) at 69 just above it and Cavco Industries, Inc. (CVCO) at 64 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 21 companies in Residential Construction. The defenses are then weighted to produce the overall score out of 100.

Why is M/I Homes, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for M/I Homes, Inc.?

The Corporate Default template measures 6 defenses, and MHO scores: Pricing Power (83), Cost Advantage (52), Customer Stickiness (66), Capital Efficiency (63), Resilience (67), Scale & Market Position (69). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

Send Feedback
Please select a category.
0/1000