MTH FINANCIAL STATEMENTS

Meritage Corporation — balance sheet, income statement and cash flow trends

MTHMeritage Corporation

🇺🇸 USA · NYSE · Consumer Cyclical · Residential Construction

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue5.6 B $-10.6%

Gross Profit1 B $-31.1%

Operating Income454 M $-48.6%

EBITDA522.3 M $-45.3%

Net Income385.5 M $-46.7%

Peer Comparison· Residential Construction

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
MTH	-10.6%	18.7%	9.3%	6.9%
JBH	8.6%	22.5%	9.5%	4.4%
FROTO	12.3%	8.0%	6.8%	3.8%
GIL	23.4%	28.5%	20.3%	6.1%
FDR	1.5%	32.2%	39.7%	7.9%
DOO	17.1%	22.9%	11.2%	3.0%
Industry median	-6.3%	22.3%	11.8%	7.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
MTH	-10.6%	18.7%	9.3%	6.9%
IBP	0.5%	33.5%	23.6%	8.6%
SKY	7.3%	26.2%	12.1%	7.8%
CVCO	11.4%	23.5%	12.0%	8.5%
TMHC	-9.0%	22.4%	12.7%	8.8%
MHO	-1.5%	22.2%	13.0%	8.2%
Industry median	-6.3%	22.3%	11.8%	7.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity5.1 B $67%
Current Liabilities199.9 M $3%
Long-term Liabilities2.3 B $30%

Key Figures

YoY change

Total Assets7.6 B $-1.9%

Total Liabilities2.5 B $-1.8%

Total Equity5.1 B $-1.9%

Cash & ST Investments766.6 M $-24.2%

Total Debt1.8 B $-4.6%

Net Debt1 B $+18.0%

Peer Comparison· Residential Construction

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MTH	5.24	35.5%	1.99	67.4%
JBH	1.16	74.7%	0.73	39.0%
FROTO	1.26	99.2%	1.82	35.9%
GIL	2.35	147.1%	5.81	32.5%
FDR	1.58	70.5%	1.27	44.5%
DOO	1.30	419.5%	2.16	10.3%
Industry median	4.66	29.4%	0.72	64.2%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
MTH	5.24	35.5%	1.99	67.4%
IBP	3.35	176.9%	1.01	29.9%
SKY	2.65	6.9%	-1.64	73.8%
CVCO	2.46	2.8%	-0.90	74.0%
TMHC	7.00	38.6%	1.82	63.9%
MHO	4.64	31.7%	0.43	66.7%
Industry median	4.66	29.4%	0.72	64.2%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow262.2 M $—

Capital Expenditures24.4 M $-12.7%

Free Cash Flow237.7 M $—

Dividends Paid-122.2 M $-208.9%

Peer Comparison· Residential Construction

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MTH	4.7%	4.2%	0.4%	68.0%
JBH	6.1%	5.2%	0.8%	137.8%
FROTO	10.8%	8.3%	3.2%	282.9%
GIL	11.0%	8.3%	2.8%	180.0%
FDR	16.0%	14.2%	1.8%	201.5%
DOO	14.3%	10.9%	3.5%	475.8%
Industry median	5.8%	5.4%	0.5%	88.7%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
MTH	4.7%	4.2%	0.4%	68.0%
IBP	2.5%	2.1%	2.8%	29.5%
SKY	11.4%	10.1%	1.3%	146.9%
CVCO	11.9%	10.3%	1.6%	140.4%
TMHC	9.9%	9.3%	0.5%	111.8%
MHO	4.8%	4.6%	0.2%	57.8%
Industry median	5.8%	5.4%	0.5%	88.7%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.