What is M/I Homes, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on M/I Homes, Inc.'s reported free cash flow gives $125.88 per share. The share price was $138.75 on September 25, 2026, 10% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 2.5% | 10.0% | $88.67 | -36% |
| Base | 7.5% | 9.0% | $125.88 | -9% |
| Bull | 12.5% | 8.0% | $200.08 | +44% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $153.54 | $162.00 | $172.35 | $185.29 | $201.92 |
| 8.0% | $132.88 | $138.37 | $144.86 | $152.65 | $162.16 |
| 9.0% | $117.79 | $121.55 | $125.88 | $130.93 | $136.90 |
| 10.0% | $106.31 | $108.98 | $112.00 | $115.46 | $119.45 |
| 11.0% | $97.28 | $99.24 | $101.42 | $103.89 | $106.67 |
Where the presets come from
Base: years 1 to 5 grow at M/I Homes, Inc.'s revenue growth rate over the last 5 fiscal years (7.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions