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Side-by-side financial comparison of M/I HOMES, INC. (MHO) and North American Construction Group Ltd. (NOA). Click either name above to swap in a different company.
M/I HOMES, INC. is the larger business by last-quarter revenue ($1.1B vs $860.2M, roughly 1.3× North American Construction Group Ltd.). M/I HOMES, INC. runs the higher net margin — 5.6% vs 4.7%, a 0.9% gap on every dollar of revenue. Over the past eight quarters, North American Construction Group Ltd.'s revenue compounded faster (58.0% CAGR vs 4.7%).
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.
Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.
MHO vs NOA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $860.2M |
| Net Profit | $64.0M | $40.5M |
| Gross Margin | 17.4% | 19.7% |
| Operating Margin | 6.5% | 15.4% |
| Net Margin | 5.6% | 4.7% |
| Revenue YoY | -4.8% | — |
| Net Profit YoY | -52.1% | — |
| EPS (diluted) | $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 | $1.1B | — | ||
| Q3 25 | $1.1B | $860.2M | ||
| Q2 25 | $1.2B | $573.3M | ||
| Q1 25 | $976.1M | $297.0M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | $636.4M | ||
| Q2 24 | $1.1B | $439.5M | ||
| Q1 24 | $1.0B | $244.3M |
| Q4 25 | $64.0M | — | ||
| Q3 25 | $106.5M | $40.5M | ||
| Q2 25 | $121.2M | $26.0M | ||
| Q1 25 | $111.2M | $11.5M | ||
| Q4 24 | $133.5M | — | ||
| Q3 24 | $145.4M | $45.5M | ||
| Q2 24 | $146.7M | $34.1M | ||
| Q1 24 | $138.1M | $21.8M |
| Q4 25 | 17.4% | — | ||
| Q3 25 | 24.5% | 19.7% | ||
| Q2 25 | 24.7% | 18.1% | ||
| Q1 25 | 25.9% | 18.0% | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 27.1% | 14.0% | ||
| Q2 24 | 27.9% | 14.3% | ||
| Q1 24 | 27.1% | 16.8% |
| Q4 25 | 6.5% | — | ||
| Q3 25 | 12.0% | 15.4% | ||
| Q2 25 | 13.4% | 13.6% | ||
| Q1 25 | 14.4% | 13.0% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 15.9% | 7.9% | ||
| Q2 24 | 16.8% | 8.2% | ||
| Q1 24 | 16.6% | 10.5% |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 9.4% | 4.7% | ||
| Q2 25 | 10.4% | 4.5% | ||
| Q1 25 | 11.4% | 3.9% | ||
| Q4 24 | 11.1% | — | ||
| Q3 24 | 12.7% | 7.1% | ||
| Q2 24 | 13.2% | 7.8% | ||
| Q1 24 | 13.2% | 8.9% |
| Q4 25 | $2.42 | — | ||
| Q3 25 | $3.92 | — | ||
| Q2 25 | $4.42 | — | ||
| Q1 25 | $3.98 | — | ||
| Q4 24 | $4.71 | — | ||
| Q3 24 | $5.10 | — | ||
| Q2 24 | $5.12 | — | ||
| Q1 24 | $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 | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.2B | — |
| Total Assets | $4.8B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.6B | — |
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.8B | $1.7B | ||
| Q2 25 | $4.7B | $1.7B | ||
| Q1 25 | $4.6B | $1.7B | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.5B | $1.5B | ||
| Q2 24 | $4.3B | $1.5B | ||
| Q1 24 | $4.2B | $1.5B |
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 | $-8.7M | $140.7M |
| Free Cash FlowOCF − Capex | $-13.0M | — |
| FCF MarginFCF / Revenue | -1.1% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | -0.14× | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | $127.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | — | ||
| Q3 25 | $43.4M | $140.7M | ||
| Q2 25 | $37.8M | $85.4M | ||
| Q1 25 | $64.9M | $19.0M | ||
| Q4 24 | $104.4M | — | ||
| Q3 24 | $-67.9M | $109.5M | ||
| Q2 24 | $27.5M | $72.0M | ||
| Q1 24 | $115.8M | $31.8M |
| Q4 25 | $-13.0M | — | ||
| Q3 25 | $42.0M | — | ||
| Q2 25 | $35.1M | — | ||
| Q1 25 | $63.5M | — | ||
| Q4 24 | $102.3M | — | ||
| Q3 24 | $-68.5M | — | ||
| Q2 24 | $22.0M | — | ||
| Q1 24 | $115.5M | — |
| Q4 25 | -1.1% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 6.5% | — | ||
| Q4 24 | 8.5% | — | ||
| Q3 24 | -6.0% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 11.0% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | -0.14× | — | ||
| Q3 25 | 0.41× | 3.47× | ||
| Q2 25 | 0.31× | 3.28× | ||
| Q1 25 | 0.58× | 1.65× | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | -0.47× | 2.41× | ||
| Q2 24 | 0.19× | 2.11× | ||
| Q1 24 | 0.84× | 1.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
NOA
Segment breakdown not available.
