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Side-by-side financial comparison of M/I HOMES, INC. (MHO) and Natera, Inc. (NTRA). 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 $665.5M, roughly 1.7× Natera, Inc.). Natera, Inc. runs the higher net margin — 7.1% vs 5.6%, a 1.5% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs -4.8%). Natera, Inc. produced more free cash flow last quarter ($37.8M vs $-13.0M). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% 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.
Natera, Inc. is a clinical genetic testing company based in Austin, Texas that specializes in non-invasive, cell-free DNA (cfDNA) testing technology, with a focus on women’s health, cancer, and organ health. Natera’s proprietary technology combines novel molecular biology techniques with a suite of bioinformatics software that allows detection down to a single molecule in a tube of blood. Natera operates CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendment...
MHO vs NTRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $665.5M |
| Net Profit | $64.0M | $47.3M |
| Gross Margin | 17.4% | — |
| Operating Margin | 6.5% | -3.4% |
| Net Margin | 5.6% | 7.1% |
| Revenue YoY | -4.8% | 39.8% |
| Net Profit YoY | -52.1% | 187.9% |
| EPS (diluted) | $2.42 | $0.36 |
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 | $665.5M | ||
| Q3 25 | $1.1B | $592.2M | ||
| Q2 25 | $1.2B | $546.6M | ||
| Q1 25 | $976.1M | $501.8M | ||
| Q4 24 | $1.2B | $476.1M | ||
| Q3 24 | $1.1B | $439.8M | ||
| Q2 24 | $1.1B | $413.4M | ||
| Q1 24 | $1.0B | $367.7M |
| Q4 25 | $64.0M | $47.3M | ||
| Q3 25 | $106.5M | $-87.5M | ||
| Q2 25 | $121.2M | $-100.9M | ||
| Q1 25 | $111.2M | $-66.9M | ||
| Q4 24 | $133.5M | $-53.8M | ||
| Q3 24 | $145.4M | $-31.6M | ||
| Q2 24 | $146.7M | $-37.5M | ||
| Q1 24 | $138.1M | $-67.6M |
| Q4 25 | 17.4% | — | ||
| Q3 25 | 24.5% | — | ||
| Q2 25 | 24.7% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 27.1% | — | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 27.1% | — |
| Q4 25 | 6.5% | -3.4% | ||
| Q3 25 | 12.0% | -16.5% | ||
| Q2 25 | 13.4% | -20.2% | ||
| Q1 25 | 14.4% | -15.8% | ||
| Q4 24 | 13.6% | -13.6% | ||
| Q3 24 | 15.9% | -8.9% | ||
| Q2 24 | 16.8% | -10.6% | ||
| Q1 24 | 16.6% | -20.2% |
| Q4 25 | 5.6% | 7.1% | ||
| Q3 25 | 9.4% | -14.8% | ||
| Q2 25 | 10.4% | -18.5% | ||
| Q1 25 | 11.4% | -13.3% | ||
| Q4 24 | 11.1% | -11.3% | ||
| Q3 24 | 12.7% | -7.2% | ||
| Q2 24 | 13.2% | -9.1% | ||
| Q1 24 | 13.2% | -18.4% |
| Q4 25 | $2.42 | $0.36 | ||
| Q3 25 | $3.92 | $-0.64 | ||
| Q2 25 | $4.42 | $-0.74 | ||
| Q1 25 | $3.98 | $-0.50 | ||
| Q4 24 | $4.71 | $-0.41 | ||
| Q3 24 | $5.10 | $-0.26 | ||
| Q2 24 | $5.12 | $-0.30 | ||
| Q1 24 | $4.78 | $-0.56 |
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 | $1.7B |
| Total Assets | $4.8B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $1.0M | ||
| Q2 25 | — | $16.0M | ||
| Q1 25 | — | $17.8M | ||
| Q4 24 | — | $22.7M | ||
| Q3 24 | — | $29.5M | ||
| Q2 24 | — | $90.3M | ||
| Q1 24 | — | $69.1M |
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $3.1B | $1.3B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.0B | $1.2B | ||
| Q4 24 | $2.9B | $1.2B | ||
| Q3 24 | $2.8B | $878.5M | ||
| Q2 24 | $2.7B | $836.5M | ||
| Q1 24 | $2.6B | $794.1M |
| Q4 25 | $4.8B | $2.4B | ||
| Q3 25 | $4.8B | $1.8B | ||
| Q2 25 | $4.7B | $1.8B | ||
| Q1 25 | $4.6B | $1.7B | ||
| Q4 24 | $4.5B | $1.7B | ||
| Q3 24 | $4.5B | $1.6B | ||
| 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 | $73.9M |
| Free Cash FlowOCF − Capex | $-13.0M | $37.8M |
| FCF MarginFCF / Revenue | -1.1% | 5.7% |
| Capex IntensityCapex / Revenue | 0.4% | 5.4% |
| Cash ConversionOCF / Net Profit | -0.14× | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | $127.7M | $109.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $73.9M | ||
| Q3 25 | $43.4M | $59.4M | ||
| Q2 25 | $37.8M | $37.6M | ||
| Q1 25 | $64.9M | $44.5M | ||
| Q4 24 | $104.4M | $52.9M | ||
| Q3 24 | $-67.9M | $51.8M | ||
| Q2 24 | $27.5M | $4.0M | ||
| Q1 24 | $115.8M | $27.0M |
| Q4 25 | $-13.0M | $37.8M | ||
| Q3 25 | $42.0M | $37.0M | ||
| Q2 25 | $35.1M | $11.7M | ||
| Q1 25 | $63.5M | $22.6M | ||
| Q4 24 | $102.3M | $34.8M | ||
| Q3 24 | $-68.5M | $35.5M | ||
| Q2 24 | $22.0M | $-7.7M | ||
| Q1 24 | $115.5M | $6.7M |
| Q4 25 | -1.1% | 5.7% | ||
| Q3 25 | 3.7% | 6.2% | ||
| Q2 25 | 3.0% | 2.1% | ||
| Q1 25 | 6.5% | 4.5% | ||
| Q4 24 | 8.5% | 7.3% | ||
| Q3 24 | -6.0% | 8.1% | ||
| Q2 24 | 2.0% | -1.9% | ||
| Q1 24 | 11.0% | 1.8% |
| Q4 25 | 0.4% | 5.4% | ||
| Q3 25 | 0.1% | 3.8% | ||
| Q2 25 | 0.2% | 4.7% | ||
| Q1 25 | 0.1% | 4.3% | ||
| Q4 24 | 0.2% | 3.8% | ||
| Q3 24 | 0.1% | 3.7% | ||
| Q2 24 | 0.5% | 2.8% | ||
| Q1 24 | 0.0% | 5.5% |
| Q4 25 | -0.14× | 1.56× | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | -0.47× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.84× | — |
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% |
NTRA
Segment breakdown not available.
