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Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
Bath & Body Works, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.1B, roughly 1.4× M/I HOMES, INC.). M/I HOMES, INC. runs the higher net margin — 5.6% vs 4.8%, a 0.7% gap on every dollar of revenue. On growth, Bath & Body Works, Inc. posted the faster year-over-year revenue change (-1.0% vs -4.8%). Bath & Body Works, Inc. produced more free cash flow last quarter ($-1.0M vs $-13.0M). Over the past eight quarters, M/I HOMES, INC.'s revenue compounded faster (4.7% CAGR vs -26.0%).
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
BBWI vs MHO — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.1B |
| Net Profit | $77.0M | $64.0M |
| Gross Margin | 41.3% | 17.4% |
| Operating Margin | 10.1% | 6.5% |
| Net Margin | 4.8% | 5.6% |
| Revenue YoY | -1.0% | -4.8% |
| Net Profit YoY | -27.4% | -52.1% |
| EPS (diluted) | $0.37 | $2.42 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.6B | $1.1B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $2.8B | $976.1M | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $2.9B | $1.0B |
| Q4 25 | $77.0M | $64.0M | ||
| Q3 25 | $64.0M | $106.5M | ||
| Q2 25 | $105.0M | $121.2M | ||
| Q1 25 | $453.0M | $111.2M | ||
| Q4 24 | $106.0M | $133.5M | ||
| Q3 24 | $152.0M | $145.4M | ||
| Q2 24 | $87.0M | $146.7M | ||
| Q1 24 | $579.0M | $138.1M |
| Q4 25 | 41.3% | 17.4% | ||
| Q3 25 | 41.3% | 24.5% | ||
| Q2 25 | 45.4% | 24.7% | ||
| Q1 25 | 46.7% | 25.9% | ||
| Q4 24 | 43.5% | 24.6% | ||
| Q3 24 | 41.0% | 27.1% | ||
| Q2 24 | 43.8% | 27.9% | ||
| Q1 24 | 45.9% | 27.1% |
| Q4 25 | 10.1% | 6.5% | ||
| Q3 25 | 10.1% | 12.0% | ||
| Q2 25 | 14.7% | 13.4% | ||
| Q1 25 | 24.3% | 14.4% | ||
| Q4 24 | 13.5% | 13.6% | ||
| Q3 24 | 12.0% | 15.9% | ||
| Q2 24 | 13.5% | 16.8% | ||
| Q1 24 | 23.9% | 16.6% |
| Q4 25 | 4.8% | 5.6% | ||
| Q3 25 | 4.1% | 9.4% | ||
| Q2 25 | 7.4% | 10.4% | ||
| Q1 25 | 16.3% | 11.4% | ||
| Q4 24 | 6.6% | 11.1% | ||
| Q3 24 | 10.0% | 12.7% | ||
| Q2 24 | 6.3% | 13.2% | ||
| Q1 24 | 19.9% | 13.2% |
| Q4 25 | $0.37 | $2.42 | ||
| Q3 25 | $0.30 | $3.92 | ||
| Q2 25 | $0.49 | $4.42 | ||
| Q1 25 | $2.06 | $3.98 | ||
| Q4 24 | $0.49 | $4.71 | ||
| Q3 24 | $0.68 | $5.10 | ||
| Q2 24 | $0.38 | $5.12 | ||
| Q1 24 | $2.54 | $4.78 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $236.0M | — |
| Total DebtLower is stronger | $3.9B | — |
| Stockholders' EquityBook value | $-1.6B | $3.2B |
| Total Assets | $5.0B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | — | ||
| Q3 25 | $364.0M | — | ||
| Q2 25 | $636.0M | — | ||
| Q1 25 | $674.0M | — | ||
| Q4 24 | $191.0M | — | ||
| Q3 24 | $514.0M | — | ||
| Q2 24 | $855.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.9B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | $-1.6B | $3.2B | ||
| Q3 25 | $-1.5B | $3.1B | ||
| Q2 25 | $-1.5B | $3.1B | ||
| Q1 25 | $-1.4B | $3.0B | ||
| Q4 24 | $-1.7B | $2.9B | ||
| Q3 24 | $-1.7B | $2.8B | ||
| Q2 24 | $-1.7B | $2.7B | ||
| Q1 24 | $-1.6B | $2.6B |
| Q4 25 | $5.0B | $4.8B | ||
| Q3 25 | $4.8B | $4.8B | ||
| Q2 25 | $4.9B | $4.7B | ||
| Q1 25 | $4.9B | $4.6B | ||
| Q4 24 | $5.0B | $4.5B | ||
| Q3 24 | $4.9B | $4.5B | ||
| Q2 24 | $5.2B | $4.3B | ||
| Q1 24 | $5.5B | $4.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $80.0M | $-8.7M |
| Free Cash FlowOCF − Capex | $-1.0M | $-13.0M |
| FCF MarginFCF / Revenue | -0.1% | -1.1% |
| Capex IntensityCapex / Revenue | 5.1% | 0.4% |
| Cash ConversionOCF / Net Profit | 1.04× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $946.0M | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.0M | $-8.7M | ||
| Q3 25 | $-43.0M | $43.4M | ||
| Q2 25 | $188.0M | $37.8M | ||
| Q1 25 | $955.0M | $64.9M | ||
| Q4 24 | $-99.0M | $104.4M | ||
| Q3 24 | $-46.0M | $-67.9M | ||
| Q2 24 | $76.0M | $27.5M | ||
| Q1 24 | $926.0M | $115.8M |
| Q4 25 | $-1.0M | $-13.0M | ||
| Q3 25 | $-99.0M | $42.0M | ||
| Q2 25 | $151.0M | $35.1M | ||
| Q1 25 | $895.0M | $63.5M | ||
| Q4 24 | $-164.0M | $102.3M | ||
| Q3 24 | $-101.0M | $-68.5M | ||
| Q2 24 | $30.0M | $22.0M | ||
| Q1 24 | $878.0M | $115.5M |
| Q4 25 | -0.1% | -1.1% | ||
| Q3 25 | -6.4% | 3.7% | ||
| Q2 25 | 10.6% | 3.0% | ||
| Q1 25 | 32.1% | 6.5% | ||
| Q4 24 | -10.2% | 8.5% | ||
| Q3 24 | -6.6% | -6.0% | ||
| Q2 24 | 2.2% | 2.0% | ||
| Q1 24 | 30.2% | 11.0% |
| Q4 25 | 5.1% | 0.4% | ||
| Q3 25 | 3.6% | 0.1% | ||
| Q2 25 | 2.6% | 0.2% | ||
| Q1 25 | 2.2% | 0.1% | ||
| Q4 24 | 4.0% | 0.2% | ||
| Q3 24 | 3.6% | 0.1% | ||
| Q2 24 | 3.3% | 0.5% | ||
| Q1 24 | 1.6% | 0.0% |
| Q4 25 | 1.04× | -0.14× | ||
| Q3 25 | -0.67× | 0.41× | ||
| Q2 25 | 1.79× | 0.31× | ||
| Q1 25 | 2.11× | 0.58× | ||
| Q4 24 | -0.93× | 0.78× | ||
| Q3 24 | -0.30× | -0.47× | ||
| Q2 24 | 0.87× | 0.19× | ||
| Q1 24 | 1.60× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
