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Side-by-side financial comparison of M/I HOMES, INC. (MHO) and RH (RH). 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 $883.8M, roughly 1.3× RH). M/I HOMES, INC. runs the higher net margin — 5.6% vs 4.1%, a 1.5% gap on every dollar of revenue. On growth, RH posted the faster year-over-year revenue change (8.9% vs -4.8%). RH produced more free cash flow last quarter ($83.0M vs $-13.0M). Over the past eight quarters, RH's revenue compounded faster (9.4% 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.
RH is an upscale American home-furnishings company headquartered in Corte Madera, California. The company sells its merchandise through its retail stores, catalog, and online. As of August 2018, the company operated a total of 70 galleries, 18 full-line design galleries, and 3 baby-and-child galleries. The company also has 36 outlet stores in the United States and Canada.
MHO vs RH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $883.8M |
| Net Profit | $64.0M | $36.3M |
| Gross Margin | 17.4% | 44.1% |
| Operating Margin | 6.5% | 12.0% |
| Net Margin | 5.6% | 4.1% |
| Revenue YoY | -4.8% | 8.9% |
| Net Profit YoY | -52.1% | 9.3% |
| EPS (diluted) | $2.42 | $1.83 |
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 | $883.8M | ||
| Q3 25 | $1.1B | $899.2M | ||
| Q2 25 | $1.2B | $814.0M | ||
| Q1 25 | $976.1M | $812.4M | ||
| Q4 24 | $1.2B | $811.7M | ||
| Q3 24 | $1.1B | $829.7M | ||
| Q2 24 | $1.1B | $727.0M | ||
| Q1 24 | $1.0B | $738.3M |
| Q4 25 | $64.0M | $36.3M | ||
| Q3 25 | $106.5M | $51.7M | ||
| Q2 25 | $121.2M | $8.0M | ||
| Q1 25 | $111.2M | $13.9M | ||
| Q4 24 | $133.5M | $33.2M | ||
| Q3 24 | $145.4M | $29.0M | ||
| Q2 24 | $146.7M | $-3.6M | ||
| Q1 24 | $138.1M | $11.4M |
| Q4 25 | 17.4% | 44.1% | ||
| Q3 25 | 24.5% | 45.5% | ||
| Q2 25 | 24.7% | 43.7% | ||
| Q1 25 | 25.9% | 44.7% | ||
| Q4 24 | 24.6% | 44.5% | ||
| Q3 24 | 27.1% | 45.2% | ||
| Q2 24 | 27.9% | 43.5% | ||
| Q1 24 | 27.1% | 43.5% |
| Q4 25 | 6.5% | 12.0% | ||
| Q3 25 | 12.0% | 14.3% | ||
| Q2 25 | 13.4% | 6.9% | ||
| Q1 25 | 14.4% | 8.7% | ||
| Q4 24 | 13.6% | 12.5% | ||
| Q3 24 | 15.9% | 11.6% | ||
| Q2 24 | 16.8% | 7.5% | ||
| Q1 24 | 16.6% | 8.7% |
| Q4 25 | 5.6% | 4.1% | ||
| Q3 25 | 9.4% | 5.8% | ||
| Q2 25 | 10.4% | 1.0% | ||
| Q1 25 | 11.4% | 1.7% | ||
| Q4 24 | 11.1% | 4.1% | ||
| Q3 24 | 12.7% | 3.5% | ||
| Q2 24 | 13.2% | -0.5% | ||
| Q1 24 | 13.2% | 1.5% |
| Q4 25 | $2.42 | $1.83 | ||
| Q3 25 | $3.92 | $2.62 | ||
| Q2 25 | $4.42 | $0.40 | ||
| Q1 25 | $3.98 | $0.71 | ||
| Q4 24 | $4.71 | $1.66 | ||
| Q3 24 | $5.10 | $1.45 | ||
| Q2 24 | $5.12 | $-0.20 | ||
| Q1 24 | $4.78 | $0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $43.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.2B | $3.3M |
| Total Assets | $4.8B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $43.1M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $46.1M | ||
| Q1 25 | — | $30.4M | ||
| Q4 24 | — | $87.0M | ||
| Q3 24 | — | $78.3M | ||
| Q2 24 | — | $101.8M | ||
| Q1 24 | — | $123.7M |
| Q4 25 | $3.2B | $3.3M | ||
| Q3 25 | $3.1B | $-40.9M | ||
| Q2 25 | $3.1B | $-110.8M | ||
| Q1 25 | $3.0B | $-163.6M | ||
| Q4 24 | $2.9B | $-183.0M | ||
| Q3 24 | $2.8B | $-234.7M | ||
| Q2 24 | $2.7B | $-289.9M | ||
| Q1 24 | $2.6B | $-297.4M |
| Q4 25 | $4.8B | $4.8B | ||
| Q3 25 | $4.8B | $4.7B | ||
| Q2 25 | $4.7B | $4.7B | ||
| Q1 25 | $4.6B | $4.6B | ||
| Q4 24 | $4.5B | $4.5B | ||
| Q3 24 | $4.5B | $4.4B | ||
| Q2 24 | $4.3B | $4.2B | ||
| Q1 24 | $4.2B | $4.1B |
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 | $131.9M |
| Free Cash FlowOCF − Capex | $-13.0M | $83.0M |
| FCF MarginFCF / Revenue | -1.1% | 9.4% |
| Capex IntensityCapex / Revenue | 0.4% | 5.5% |
| Cash ConversionOCF / Net Profit | -0.14× | 3.64× |
| TTM Free Cash FlowTrailing 4 quarters | $127.7M | $128.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $131.9M | ||
| Q3 25 | $43.4M | $137.7M | ||
| Q2 25 | $37.8M | $86.6M | ||
| Q1 25 | $64.9M | $-18.8M | ||
| Q4 24 | $104.4M | $-31.4M | ||
| Q3 24 | $-67.9M | $11.2M | ||
| Q2 24 | $27.5M | $56.1M | ||
| Q1 24 | $115.8M | $-114.0M |
| Q4 25 | $-13.0M | $83.0M | ||
| Q3 25 | $42.0M | $80.7M | ||
| Q2 25 | $35.1M | $34.1M | ||
| Q1 25 | $63.5M | $-69.7M | ||
| Q4 24 | $102.3M | $-96.0M | ||
| Q3 24 | $-68.5M | $-37.9M | ||
| Q2 24 | $22.0M | $-10.1M | ||
| Q1 24 | $115.5M | $-251.5M |
| Q4 25 | -1.1% | 9.4% | ||
| Q3 25 | 3.7% | 9.0% | ||
| Q2 25 | 3.0% | 4.2% | ||
| Q1 25 | 6.5% | -8.6% | ||
| Q4 24 | 8.5% | -11.8% | ||
| Q3 24 | -6.0% | -4.6% | ||
| Q2 24 | 2.0% | -1.4% | ||
| Q1 24 | 11.0% | -34.1% |
| Q4 25 | 0.4% | 5.5% | ||
| Q3 25 | 0.1% | 6.3% | ||
| Q2 25 | 0.2% | 6.5% | ||
| Q1 25 | 0.1% | 6.3% | ||
| Q4 24 | 0.2% | 8.0% | ||
| Q3 24 | 0.1% | 5.9% | ||
| Q2 24 | 0.5% | 9.1% | ||
| Q1 24 | 0.0% | 18.6% |
| Q4 25 | -0.14× | 3.64× | ||
| Q3 25 | 0.41× | 2.66× | ||
| Q2 25 | 0.31× | 10.78× | ||
| Q1 25 | 0.58× | -1.35× | ||
| Q4 24 | 0.78× | -0.95× | ||
| Q3 24 | -0.47× | 0.39× | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.84× | -10.01× |
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% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
