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Side-by-side financial comparison of M/I HOMES, INC. (MHO) and WATTS WATER TECHNOLOGIES INC (WTS). 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 $625.1M, roughly 1.8× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 5.6%, a 7.8% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs -4.8%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $-13.0M). Over the past eight quarters, M/I HOMES, INC.'s revenue compounded faster (4.7% CAGR vs 4.6%).
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
MHO vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $625.1M |
| Net Profit | $64.0M | $83.7M |
| Gross Margin | 17.4% | 49.5% |
| Operating Margin | 6.5% | 18.2% |
| Net Margin | 5.6% | 13.4% |
| Revenue YoY | -4.8% | 15.7% |
| Net Profit YoY | -52.1% | 24.0% |
| EPS (diluted) | $2.42 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $1.1B | $611.7M | ||
| Q2 25 | $1.2B | $643.7M | ||
| Q1 25 | $976.1M | $558.0M | ||
| Q4 24 | $1.2B | $540.4M | ||
| Q3 24 | $1.1B | $543.6M | ||
| Q2 24 | $1.1B | $597.3M | ||
| Q1 24 | $1.0B | $570.9M |
| Q4 25 | $64.0M | $83.7M | ||
| Q3 25 | $106.5M | $82.2M | ||
| Q2 25 | $121.2M | $100.9M | ||
| Q1 25 | $111.2M | $74.0M | ||
| Q4 24 | $133.5M | $67.5M | ||
| Q3 24 | $145.4M | $69.1M | ||
| Q2 24 | $146.7M | $82.0M | ||
| Q1 24 | $138.1M | $72.6M |
| Q4 25 | 17.4% | 49.5% | ||
| Q3 25 | 24.5% | 48.8% | ||
| Q2 25 | 24.7% | 50.6% | ||
| Q1 25 | 25.9% | 48.8% | ||
| Q4 24 | 24.6% | 46.7% | ||
| Q3 24 | 27.1% | 47.3% | ||
| Q2 24 | 27.9% | 47.7% | ||
| Q1 24 | 27.1% | 46.9% |
| Q4 25 | 6.5% | 18.2% | ||
| Q3 25 | 12.0% | 18.2% | ||
| Q2 25 | 13.4% | 21.0% | ||
| Q1 25 | 14.4% | 15.7% | ||
| Q4 24 | 13.6% | 16.5% | ||
| Q3 24 | 15.9% | 17.1% | ||
| Q2 24 | 16.8% | 18.7% | ||
| Q1 24 | 16.6% | 16.9% |
| Q4 25 | 5.6% | 13.4% | ||
| Q3 25 | 9.4% | 13.4% | ||
| Q2 25 | 10.4% | 15.7% | ||
| Q1 25 | 11.4% | 13.3% | ||
| Q4 24 | 11.1% | 12.5% | ||
| Q3 24 | 12.7% | 12.7% | ||
| Q2 24 | 13.2% | 13.7% | ||
| Q1 24 | 13.2% | 12.7% |
| Q4 25 | $2.42 | $2.50 | ||
| Q3 25 | $3.92 | $2.45 | ||
| Q2 25 | $4.42 | $3.01 | ||
| Q1 25 | $3.98 | $2.21 | ||
| Q4 24 | $4.71 | $2.02 | ||
| Q3 24 | $5.10 | $2.06 | ||
| Q2 24 | $5.12 | $2.44 | ||
| Q1 24 | $4.78 | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.2B | $2.0B |
| Total Assets | $4.8B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $405.5M | ||
| Q3 25 | — | $457.7M | ||
| Q2 25 | — | $369.3M | ||
| Q1 25 | — | $336.8M | ||
| Q4 24 | — | $386.9M | ||
| Q3 24 | — | $303.9M | ||
| Q2 24 | — | $279.4M | ||
| Q1 24 | — | $237.1M |
| Q4 25 | $3.2B | $2.0B | ||
| Q3 25 | $3.1B | $2.0B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $3.0B | $1.8B | ||
| Q4 24 | $2.9B | $1.7B | ||
| Q3 24 | $2.8B | $1.7B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.6B |
| Q4 25 | $4.8B | $2.9B | ||
| Q3 25 | $4.8B | $2.7B | ||
| Q2 25 | $4.7B | $2.6B | ||
| Q1 25 | $4.6B | $2.5B | ||
| Q4 24 | $4.5B | $2.4B | ||
| Q3 24 | $4.5B | $2.4B | ||
| Q2 24 | $4.3B | $2.4B | ||
| Q1 24 | $4.2B | $2.3B |
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 | $-8.7M | $154.7M |
| Free Cash FlowOCF − Capex | $-13.0M | $140.3M |
| FCF MarginFCF / Revenue | -1.1% | 22.4% |
| Capex IntensityCapex / Revenue | 0.4% | 2.3% |
| Cash ConversionOCF / Net Profit | -0.14× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $127.7M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $154.7M | ||
| Q3 25 | $43.4M | $122.4M | ||
| Q2 25 | $37.8M | $69.7M | ||
| Q1 25 | $64.9M | $55.2M | ||
| Q4 24 | $104.4M | $139.5M | ||
| Q3 24 | $-67.9M | $90.7M | ||
| Q2 24 | $27.5M | $85.3M | ||
| Q1 24 | $115.8M | $45.6M |
| Q4 25 | $-13.0M | $140.3M | ||
| Q3 25 | $42.0M | $110.9M | ||
| Q2 25 | $35.1M | $59.5M | ||
| Q1 25 | $63.5M | $45.6M | ||
| Q4 24 | $102.3M | $127.5M | ||
| Q3 24 | $-68.5M | $84.3M | ||
| Q2 24 | $22.0M | $78.5M | ||
| Q1 24 | $115.5M | $35.5M |
| Q4 25 | -1.1% | 22.4% | ||
| Q3 25 | 3.7% | 18.1% | ||
| Q2 25 | 3.0% | 9.2% | ||
| Q1 25 | 6.5% | 8.2% | ||
| Q4 24 | 8.5% | 23.6% | ||
| Q3 24 | -6.0% | 15.5% | ||
| Q2 24 | 2.0% | 13.1% | ||
| Q1 24 | 11.0% | 6.2% |
| Q4 25 | 0.4% | 2.3% | ||
| Q3 25 | 0.1% | 1.9% | ||
| Q2 25 | 0.2% | 1.6% | ||
| Q1 25 | 0.1% | 1.7% | ||
| Q4 24 | 0.2% | 2.2% | ||
| Q3 24 | 0.1% | 1.2% | ||
| Q2 24 | 0.5% | 1.1% | ||
| Q1 24 | 0.0% | 1.8% |
| Q4 25 | -0.14× | 1.85× | ||
| Q3 25 | 0.41× | 1.49× | ||
| Q2 25 | 0.31× | 0.69× | ||
| Q1 25 | 0.58× | 0.75× | ||
| Q4 24 | 0.78× | 2.07× | ||
| Q3 24 | -0.47× | 1.31× | ||
| Q2 24 | 0.19× | 1.04× | ||
| Q1 24 | 0.84× | 0.63× |
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% |
WTS
Segment breakdown not available.
