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Meritage Corporation (MTH) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER CYCLICAL · RESIDENTIAL CONSTRUCTION · DATA UPDATED 2026-08-22

Meritage Corporation (MTH) operates in the RESIDENTIAL CONSTRUCTION industry and is headquartered in Scottsdale, United States with about 1,860 employees. Its market capitalization is roughly $4 billion. In the fiscal year ended 2025-12-31, MTH reported $5.9B in revenue and $453M in net income.

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments: Homebuilding and Financial Services.

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MTH Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$5.5B	$5.9B	$6.4B	$6.1B	$6.3B	$5.1B	$4.5B	$3.7B	$3.5B	$3.2B	$3.0B	$2.6B	$2.2B	$1.8B	$1.2B	$861M	$942M	$970M	$1.5B	$2.3B	$3.5B
Gross Profit	$1.0B	$1.2B	$1.6B	$1.5B	$1.8B	$1.4B	$1.0B	$707M	$660M	$595M	$557M	$515M	$472M	$413M	$230M	$141M	$168M	$4M	($37M)	$13M	$713M
Gross Margin %	18.9%	19.7%	25.0%	24.6%	28.6%	28.0%	22.2%	19.3%	18.7%	18.4%	18.3%	20.0%	21.7%	22.7%	19.3%	16.4%	17.8%	0.4%	-2.4%	0.6%	20.6%
Operating Income (EBIT)	$456M	$537M	$958M	$1.3B	$1.3B	$971M	$554M	$315M	$280M	$250M	$218M	$213M	$211M	$195M	$67M	$2M	$31M	($134M)	($242M)	($290M)	$332M
Operating Margin %	8.4%	9.2%	15.0%	20.8%	20.4%	18.9%	12.3%	8.6%	7.9%	7.7%	7.2%	8.3%	9.7%	10.7%	5.7%	0.2%	3.3%	-13.8%	-15.9%	-12.4%	9.6%
Net Income	$329M	$453M	$786M	$739M	$992M	$737M	$423M	$250M	$227M	$143M	$150M	$129M	$142M	$124M	$105M	($21M)	$7M	($66M)	($292M)	($289M)	$225M
Net Margin %	6.0%	7.7%	12.3%	12.1%	15.8%	14.3%	9.4%	6.8%	6.4%	4.4%	4.9%	5.0%	6.5%	6.8%	8.8%	-2.5%	0.8%	-6.9%	-19.2%	-12.3%	6.5%
EBITDA	$505M	$610M	$1.0B	$1.3B	$1.3B	$981M	$585M	$343M	$306M	$266M	$234M	$228M	$223M	$205M	$76M	$9M	$39M	($109M)	($237M)	($272M)	$356M
Earnings Per Share (EPS)	$4.79	$6.40	$10.72	$9.96	$13.37	$9.64	$11.00	$6.42	$5.58	$3.39	$3.51	$3.05	$3.42	$1.60	$2.99	$-0.33	$0.11	$-1.06	$-4.98	$-5.51	$4.16
Shares Outstanding (M)	67M	71M	73M	74M	74M	76M	38M	39M	41M	42M	43M	42M	42M	78M	35M	65M	65M	63M	59M	52M	54M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MTH Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$1.5B	$1.1B	$1.4B	$1.4B	$1.6B	$1.4B	$1.6B	$1.6B
Gross Profit	$328M	$196M	$235M	$272M	$346M	$302M	$380M	$396M
Gross Margin %	22.3%	17.5%	16.4%	19.1%	21.2%	22.2%	23.4%	24.8%
Operating Income (EBIT)	$184M	$65M	$86M	$120M	$182M	$151M	$208M	$239M
Operating Margin %	12.5%	5.8%	6.0%	8.4%	11.2%	11.0%	12.8%	15.0%
Net Income	$91M	$55M	$84M	$99M	$147M	$123M	$173M	$196M
Net Margin %	6.2%	4.9%	5.9%	7.0%	9.0%	9.0%	10.7%	12.3%
EBITDA	$182M	$78M	$110M	$134M	$200M	$166M	$228M	$256M
Earnings Per Share (EPS)	$1.36	$0.82	$1.20	$1.40	$2.05	$1.69	$2.35	$2.67
Shares Outstanding (M)	67M	67M	70M	71M	72M	73M	73M	73M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MTH Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$438M	$118M	($228M)	$356M	$405M	($152M)	$530M	$347M	$262M	($87M)	($103M)	($3M)	($211M)	($86M)	($220M)	($74M)	$33M	$184M	$200M	($21M)	($22M)
Capital Expenditures (CapEx)	$23M	$26M	$29M	$38M	$27M	$26M	$20M	$24M	$33M	$18M	$17M	$16M	$21M	$16M	$11M	$7M	$6M	$4M	$10M	$13M	$26M
Free Cash Flow (FCF)	$415M	$93M	($256M)	$317M	$378M	($178M)	$510M	$322M	$229M	($105M)	($120M)	($19M)	($232M)	($102M)	($231M)	($81M)	$26M	$180M	$190M	($34M)	($48M)
FCF Margin %	7.6%	1.6%	-4.0%	5.2%	6.0%	-3.5%	11.3%	8.8%	6.5%	-3.2%	-4.0%	-0.8%	-10.7%	-5.6%	-19.4%	-9.4%	2.8%	18.6%	12.5%	-1.5%	-1.4%
Dividends Paid	$123M	$121M	$109M	$40M	$0M	$0M	—	—	—	$0M	$0M	$0M	$0M	$0M	$0M	$0M	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MTH Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$189M	$101M	$244M	($97M)	$14M	($43M)	($100M)	($92M)
Capital Expenditures (CapEx)	$6M	$4M	$6M	$8M	$7M	$6M	$7M	$8M
Free Cash Flow (FCF)	$184M	$97M	$238M	($104M)	$7M	($48M)	($107M)	($100M)
FCF Margin %	12.5%	8.6%	16.6%	-7.3%	0.4%	-3.5%	-6.6%	-6.3%
Dividends Paid	$31M	$32M	$29M	$30M	$31M	$31M	$27M	$27M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MTH Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$7.6B	$7.7B	$7.2B	$6.4B	$5.8B	$4.8B	$3.9B	$3.4B	$3.4B	$3.3B	$2.9B	$2.7B	$2.3B	$2.0B	$1.6B	$1.2B	$1.2B	$1.2B	$1.3B	$1.7B	$2.2B
Cash & Cash Equivalents	$807M	$775M	$652M	$921M	$862M	$618M	$746M	$319M	$311M	$171M	$132M	$262M	$103M	$274M	$170M	$174M	$104M	$249M	$206M	$28M	$57M
Total Liabilities	$2.5B	$2.5B	$2.0B	$1.7B	$1.8B	$1.8B	$1.5B	$1.4B	$1.6B	$1.7B	$1.5B	$1.4B	$1.2B	$1.2B	$881M	$732M	$725M	$757M	$799M	$1.0B	$1.2B
Total Debt (Short + Long-Term)	$1.8B	$1.9B	$1.3B	$1.0B	$1.2B	$1.2B	$1.0B	$1.1B	$1.3B	$1.5B	$1.1B	$2.2B	$1.9B	$905M	$832M	$606M	$606M	$605M	$629M	$724M	$705M
Total Shareholders' Equity	$5.1B	$5.2B	$5.1B	$4.6B	$4.0B	$3.0B	$2.3B	$2.0B	$1.7B	$1.6B	$1.4B	$1.3B	$1.1B	$841M	$694M	$489M	$500M	$485M	$527M	$730M	$1.0B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MTH viewer.

Other Companies in RESIDENTIAL CONSTRUCTION

TOL · Toll Brothers Inc — $12 billion
TMHC · Taylor Morn Home — $7 billion
IBP · Installed Building Products Inc — $5 billion
SKY · Skyline Corporation — $5 billion
CVCO · Cavco Industries Inc — $4 billion
MHO · M/I Homes Inc — $4 billion
KBH · KB Home — $3 billion
GRBK · Green Brick Partners Inc — $3 billion

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