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M/I Homes vs Toll Brothers: revenue, profit, margins and growth compared

M/I Homes brought in $4.4B of revenue in fiscal 2025, Toll Brothers $11B in fiscal 2025. Revenue changed by -1.9% at M/I Homes and +1.1% at Toll Brothers on the year before, so Toll Brothers grew faster. M/I Homes kept 9.1% of its revenue as net profit, Toll Brothers 12.3%. Free cash flow was $127.7M at M/I Homes and $1B at Toll Brothers.

Side by side, latest fiscal year

MHOTOL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (October 31, 2025)
Revenue$4.4B$11B
Revenue growth-1.9%+1.1%
Net income$402.9M$1.3B
Net margin9.1%12.3%
Free cash flow$127.7M$1B
Free cash flow margin2.9%9.4%
Earnings per share (diluted)$14.74$13.49
Cash$689.2M$1.3B
Debtn/an/a
Price to earnings9.410.2
Market value$3.5B$12.8B
Dividend yieldn/a0.71%
Rank by revenue in sector#221 of 778 · Consumer discretionary#116 of 778 · Consumer discretionary

Over the years

Revenue
MHO FY2018: $2.3BMHO FY2019: $2.5BMHO FY2020: $3BMHO FY2021: $3.7BMHO FY2022: $4.1BMHO FY2023: $4BMHO FY2024: $4.5BMHO FY2025: $4.4BTOL FY2018: $7.1BTOL FY2019: $7.2BTOL FY2020: $7.1BTOL FY2021: $8.8BTOL FY2022: $10.3BTOL FY2023: $10BTOL FY2024: $10.8BTOL FY2025: $11BFY18FY19FY20FY21FY22FY23FY24FY25
MHO $4.4BTOL $11B
Net income
MHO FY2018: $107.7MMHO FY2019: $127.6MMHO FY2020: $239.9MMHO FY2021: $396.9MMHO FY2022: $490.7MMHO FY2023: $465.4MMHO FY2024: $563.7MMHO FY2025: $402.9MTOL FY2018: $748.2MTOL FY2019: $590MTOL FY2020: $446.6MTOL FY2021: $833.6MTOL FY2022: $1.3BTOL FY2023: $1.4BTOL FY2024: $1.6BTOL FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
MHO $402.9MTOL $1.3B
Net margin
MHO FY2018: 4.7%MHO FY2019: 5.1%MHO FY2020: 7.9%MHO FY2021: 10.6%MHO FY2022: 11.9%MHO FY2023: 11.5%MHO FY2024: 12.5%MHO FY2025: 9.1%TOL FY2018: 10.5%TOL FY2019: 8.2%TOL FY2020: 6.3%TOL FY2021: 9.5%TOL FY2022: 12.5%TOL FY2023: 13.7%TOL FY2024: 14.5%TOL FY2025: 12.3%FY18FY19FY20FY21FY22FY23FY24FY25
MHO 9.1%TOL 12.3%
Revenue growth
MHO FY2019: +9.4%MHO FY2020: +21.8%MHO FY2021: +23.0%MHO FY2022: +10.3%MHO FY2023: -2.4%MHO FY2024: +11.7%MHO FY2025: -1.9%TOL FY2019: +1.1%TOL FY2020: -2.0%TOL FY2021: +24.2%TOL FY2022: +16.9%TOL FY2023: -2.7%TOL FY2024: +8.5%TOL FY2025: +1.1%FY19FY20FY21FY22FY23FY24FY25
MHO -1.9%TOL +1.1%
Free cash flow
MHO FY2018: -$10.7MMHO FY2019: $61.1MMHO FY2020: $156.7MMHO FY2021: -$42.1MMHO FY2022: $174.7MMHO FY2023: $546.4MMHO FY2024: $171.3MMHO FY2025: $127.7MTOL FY2018: $560MTOL FY2019: $350.7MTOL FY2020: $898.6MTOL FY2021: $1.2BTOL FY2022: $915.1MTOL FY2023: $1.2BTOL FY2024: $936.5MTOL FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
MHO $127.7MTOL $1B

Fiscal years as each company reports them; the two may end in different months.

Questions about M/I Homes and Toll Brothers

Which is bigger by revenue, M/I Homes or Toll Brothers?

Toll Brothers is bigger by revenue: $11B in fiscal 2025, against $4.4B for M/I Homes in fiscal 2025.

Which keeps more of its revenue as profit, M/I Homes or Toll Brothers?

M/I Homes had a net margin of 9.1% in fiscal 2025; Toll Brothers had 12.3% in fiscal 2025.

Which grew revenue faster, M/I Homes or Toll Brothers?

In their latest fiscal years revenue changed by -1.9% at M/I Homes and +1.1% at Toll Brothers.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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