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Side-by-side financial comparison of Garmin (GRMN) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
Garmin is the larger business by last-quarter revenue ($1.8B vs $1.1B, roughly 1.5× M/I HOMES, INC.). Garmin runs the higher net margin — 23.1% vs 5.6%, a 17.5% gap on every dollar of revenue. On growth, Garmin posted the faster year-over-year revenue change (14.0% vs -4.8%). Garmin produced more free cash flow last quarter ($469.4M vs $-13.0M). Over the past eight quarters, Garmin's revenue compounded faster (7.9% CAGR vs 4.7%).
Garmin Ltd. is an American multinational technology company based in Olathe, Kansas. The company designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communication, sensor-based, and information products to the automotive, aviation, marine, outdoors, and sport markets.
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.
GRMN vs MHO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $1.1B |
| Net Profit | $405.1M | $64.0M |
| Gross Margin | 59.4% | 17.4% |
| Operating Margin | 24.6% | 6.5% |
| Net Margin | 23.1% | 5.6% |
| Revenue YoY | 14.0% | -4.8% |
| Net Profit YoY | 21.7% | -52.1% |
| EPS (diluted) | $2.09 | $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.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.1B | $1.1B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.5B | $976.1M | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B |
| Q1 26 | $405.1M | — | ||
| Q4 25 | $528.7M | $64.0M | ||
| Q3 25 | $401.6M | $106.5M | ||
| Q2 25 | $400.8M | $121.2M | ||
| Q1 25 | $332.8M | $111.2M | ||
| Q4 24 | $435.7M | $133.5M | ||
| Q3 24 | $399.1M | $145.4M | ||
| Q2 24 | $300.6M | $146.7M |
| Q1 26 | 59.4% | — | ||
| Q4 25 | 59.2% | 17.4% | ||
| Q3 25 | 59.1% | 24.5% | ||
| Q2 25 | 58.8% | 24.7% | ||
| Q1 25 | 57.6% | 25.9% | ||
| Q4 24 | 59.3% | 24.6% | ||
| Q3 24 | 60.0% | 27.1% | ||
| Q2 24 | 57.3% | 27.9% |
| Q1 26 | 24.6% | — | ||
| Q4 25 | 28.9% | 6.5% | ||
| Q3 25 | 25.8% | 12.0% | ||
| Q2 25 | 26.0% | 13.4% | ||
| Q1 25 | 21.7% | 14.4% | ||
| Q4 24 | 28.3% | 13.6% | ||
| Q3 24 | 27.6% | 15.9% | ||
| Q2 24 | 22.7% | 16.8% |
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.9% | 5.6% | ||
| Q3 25 | 22.7% | 9.4% | ||
| Q2 25 | 22.1% | 10.4% | ||
| Q1 25 | 21.7% | 11.4% | ||
| Q4 24 | 23.9% | 11.1% | ||
| Q3 24 | 25.2% | 12.7% | ||
| Q2 24 | 20.0% | 13.2% |
| Q1 26 | $2.09 | — | ||
| Q4 25 | $2.72 | $2.42 | ||
| Q3 25 | $2.08 | $3.92 | ||
| Q2 25 | $2.07 | $4.42 | ||
| Q1 25 | $1.72 | $3.98 | ||
| Q4 24 | $2.24 | $4.71 | ||
| Q3 24 | $2.07 | $5.10 | ||
| Q2 24 | $1.56 | $5.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3B | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $3.2B |
| Total Assets | $11.0B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $3.2B | ||
| Q3 25 | $8.5B | $3.1B | ||
| Q2 25 | $8.1B | $3.1B | ||
| Q1 25 | $8.2B | $3.0B | ||
| Q4 24 | $7.8B | $2.9B | ||
| Q3 24 | $7.5B | $2.8B | ||
| Q2 24 | $7.0B | $2.7B |
| Q1 26 | $11.0B | — | ||
| Q4 25 | $11.0B | $4.8B | ||
| Q3 25 | $10.5B | $4.8B | ||
| Q2 25 | $10.3B | $4.7B | ||
| Q1 25 | $9.8B | $4.6B | ||
| Q4 24 | $9.6B | $4.5B | ||
| Q3 24 | $9.3B | $4.5B | ||
| Q2 24 | $8.9B | $4.3B |
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 | $536.0M | $-8.7M |
| Free Cash FlowOCF − Capex | $469.4M | $-13.0M |
| FCF MarginFCF / Revenue | 26.8% | -1.1% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | 1.32× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $536.0M | — | ||
| Q4 25 | $553.8M | $-8.7M | ||
| Q3 25 | $485.6M | $43.4M | ||
| Q2 25 | $173.2M | $37.8M | ||
| Q1 25 | $420.8M | $64.9M | ||
| Q4 24 | $483.9M | $104.4M | ||
| Q3 24 | $258.0M | $-67.9M | ||
| Q2 24 | $255.3M | $27.5M |
| Q1 26 | $469.4M | — | ||
| Q4 25 | $429.6M | $-13.0M | ||
| Q3 25 | $425.1M | $42.0M | ||
| Q2 25 | $127.5M | $35.1M | ||
| Q1 25 | $380.7M | $63.5M | ||
| Q4 24 | $399.2M | $102.3M | ||
| Q3 24 | $219.4M | $-68.5M | ||
| Q2 24 | $218.2M | $22.0M |
| Q1 26 | 26.8% | — | ||
| Q4 25 | 20.2% | -1.1% | ||
| Q3 25 | 24.0% | 3.7% | ||
| Q2 25 | 7.0% | 3.0% | ||
| Q1 25 | 24.8% | 6.5% | ||
| Q4 24 | 21.9% | 8.5% | ||
| Q3 24 | 13.8% | -6.0% | ||
| Q2 24 | 14.5% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 0.4% | ||
| Q3 25 | 3.4% | 0.1% | ||
| Q2 25 | 2.5% | 0.2% | ||
| Q1 25 | 2.6% | 0.1% | ||
| Q4 24 | 4.6% | 0.2% | ||
| Q3 24 | 2.4% | 0.1% | ||
| Q2 24 | 2.5% | 0.5% |
| Q1 26 | 1.32× | — | ||
| Q4 25 | 1.05× | -0.14× | ||
| Q3 25 | 1.21× | 0.41× | ||
| Q2 25 | 0.43× | 0.31× | ||
| Q1 25 | 1.26× | 0.58× | ||
| Q4 24 | 1.11× | 0.78× | ||
| Q3 24 | 0.65× | -0.47× | ||
| Q2 24 | 0.85× | 0.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRMN
Segment breakdown not available.
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
