D.R. Horton, Inc. vs M/I HOMES, INC., two Homebuilders stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The largest US homebuilder at $48B meets a smaller regional at $4.3B: D.R. Horton and M/I Homes both build at the low multiples the market reserves for cyclicals. Horton earns the higher return on equity, 13.11% against M/I's 11.26%, and the fatter margin, 9.51% against 8.24%, its national scale and land pipeline an edge over M/I's regional footprint. Both run debt-free and trade near book, Horton at 1.99 times and M/I at 1.36, Horton's premium reflecting its scale and returns. Horton converts more free cash, 7.28% against 4.61%, and pays a small dividend. The pair prices the industry giant against a solid regional: Horton offers scale, higher returns, and a dividend, M/I a cheaper book multiple and a more concentrated regional bet, both cheap on the cycle.
Comparison updated 2026-07-11.
| Metric | DHI | MHO |
|---|---|---|
| Price | $151.55 | $147.40 |
| Market cap | $43.8B | $3.9B |
| Sector | Homebuilders | Homebuilders |
| Stage | Mature | Mature |
| Implied growth (priced in) | +0.5% | -4.1% |
| P/E | 14.2 | 11.1 |
| P/B | 1.81 | 1.23 |
| P/S | 1.31 | 0.90 |
| EV/EBITDA | 1511.9 | 8.6 |
| Revenue growth | -5.6% | -1.7% |
| Operating margin | — | 9.3% |
| Net margin | 9.5% | 8.2% |
| Return on equity | 13.1% | 11.3% |
| Return on assets | 8.9% | 7.5% |
| Return on invested capital | — | 11.2% |
| FCF yield | 8.0% | 5.1% |
| Dividend yield | 1.1% | — |
| Debt / equity | 0.00 | 0.00 |
| Altman Z (solvency) | 4.51 | 3.42 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.