M/I HOMES, INC. vs PULTEGROUP, INC., two Homebuilders stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
PulteGroup earns higher returns than M/I Homes, a 15.77% return on equity against 11.26%, on a fatter margin, 12.14% against 8.24%, its scale and product mix an edge over M/I's regional model. Both run debt-free and convert solid free cash. Pulte trades at 13.3 times earnings and 2.05 times book, M/I cheaper at 12.25 and 1.36. The pair prices a large builder against a regional one: Pulte earns better margins and returns at a modest premium, M/I trades closer to book on slightly weaker economics, and while Pulte is the stronger operator, M/I's discount narrows the gap for value-minded buyers.
Comparison updated 2026-07-11.
| Metric | MHO | PHM |
|---|---|---|
| Price | $147.40 | $124.74 |
| Market cap | $3.9B | $24.1B |
| Sector | Homebuilders | Homebuilders |
| Stage | Mature | Mature |
| Implied growth (priced in) | -4.1% | -1.6% |
| P/E | 11.1 | 12.1 |
| P/B | 1.23 | 1.86 |
| P/S | 0.90 | 1.43 |
| EV/EBITDA | 8.6 | 198.6 |
| Revenue growth | -1.7% | -6.2% |
| Operating margin | 9.3% | — |
| Net margin | 8.2% | 12.1% |
| Return on equity | 11.3% | 15.8% |
| Return on assets | 7.5% | 11.2% |
| Return on invested capital | 11.2% | — |
| FCF yield | 5.1% | 7.4% |
| Dividend yield | — | 0.7% |
| Debt / equity | 0.00 | 0.00 |
| Altman Z (solvency) | 3.42 | 3.69 |
| Piotroski F (quality) | 8 / 9 | 6 / 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.