MTH - Intrinsic Value and Financial Analysis - Meritage Homes Corporation

Meritage Homes Corporation MTH

Consumer Cyclical - Residential Construction - NYSE - US

Watchlist

$ 179.41

-1 %

$ 6.49 B

Market Cap

8.12

P/E

BALANCE SHEET

6.35 B ASSETS

Growth Rates

1Year 10.07%

3Years 18.02%

5Years 13.55%

7Years 11.92%

10Years 12.23%

1.74 B LIABILITIES

Growth Rates

1Year -4.46%

3Years 4.71%

5Years 1.15%

7Years 2.48%

10Years 4.13%

4.61 B EQUITY

Growth Rates

1Year 16.77%

3Years 25.24%

5Years 21.80%

7Years 18.31%

10Years 18.55%

BALANCE SHEET DECOMPOSITION

Balance Sheet Decomposition Meritage Homes Corporation

6.35 B ASSETS
1.74 B LIABILITIES

Current Assets	6.02 B
Cash & Short-Term Investments	921 M
Receivables	267 M
Other Current Assets	4.83 B
Non-Current Assets	332 M
Long-Term Investments	17.2 M
PP&E	49 M
Other Non-Current Assets	266 M

Current Liabilities	272 M
Accounts Payable	272 M
Short-Term Debt	9.52 M
Other Current Liabilities	-9.52 M
Non-Current Liabilities	1.09 B
Long-Term Debt	1.05 B
Other Non-Current Liabilities	36.6 M

Balance Sheet

Millions

	Dec-2023	Dec-2022	Dec-2021	Dec-2020	Dec-2019	Dec-2018	Dec-2017	Dec-2016	Dec-2015	Dec-2014	Dec-2013	Dec-2012	Dec-2011	Dec-2010	Dec-2009	Dec-2008	Dec-2007	Dec-2006	Dec-2005	Dec-2004	Dec-2003	Dec-2002	Dec-2001	Dec-2000	Dec-1999	Dec-1998	Dec-1997	Dec-1996	Dec-1995	Dec-1994	Dec-1993	Dec-1992	Dec-1991	Dec-1990	Dec-1989
ASSETS
Cash & Cash Equivalents	921.2	861.6	618.3	745.6	319.5	311.5	170.7	131.7	262.2	103.3	274.1	170.5	173.6	104.0	249.3	205.9	27.7	56.7	65.8	47.9	4.8	6.6	3.4	4.4	13.4	12.4	8.2	15.6	3.3	6.7	0	0	0	0	0
Short Term Investments	0	11.8	0	0	0	0	0	0	0	0	0	0	147.4	299.3	125.7	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivables	267.0	215.0	147.5	98.6	88.5	77.3	79.3	70.4	57.3	56.8	39.0	20.3	14.9	20.8	115.4	142.6	123.5	68.7	60.7	16.0	8.7	8.9	5.5	2.2	1.6	2.5	1.0	0	0	0	0	0	0	0	0
Inventory	4 721.3	4 358.3	3 734.4	2 778.0	2 744.4	2 742.6	2 731.4	2 422.1	2 098.3	1 877.7	1 405.3	1 113.2	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Current Assets	111.4	241.4	215.5	59.5	102.4	51.4	148.0	128.0	124.5	133.1	51.6	53.3	27.4	0	0	16.0	23.7	19.9	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Current Assets	6 020.9	5 676.3	4 715.7	3 681.8	458.9	3 182.8	3 041.4	2 709.7	2 505.6	2 132.8	1 770.0	1 357.2	348.1	433.5	506.8	364.5	174.9	145.3	126.6	63.9	13.5	15.5	8.9	6.6	15.1	14.8	9.2	15.6	3.3	6.7	0	0	0	0	0
PP&E	49.0	38.6	37.3	38.9	50.6	54.6	33.6	33.2	34.0	32.4	22.1	15.7	815.4	738.9	675.0	22.7	31.0	40.7	36.2	895.0	701.7	499.0	339.9	216.0	175.1	107.3	66.0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	1.6	2.1	3.6	5.0	8.2	9.5	144.3	91.5	75.6	73.8	30.4	17.7	18.7	14.6	6.0	1.8	0	0	0	0	0	0	0
Goodwill	218.6	164.7	124.8	103.3	114.1	33.0	33.0	33.0	33.0	33.0	39.2	0	0	0	0	0	0	129.7	130.2	91.5	75.6	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	17.2	11.8	5.8	4.3	4.4	17.5	17.1	17.1	11.4	10.8	101.3	98.2	11.1	11.0	11.9	0	0	0	88.7	50.9	23.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Long Term Assets	0	(164.7)	(116.8)	0	2 744.4	51.2	91.0	42.4	47.4	43.1	0.3	42.2	46.7	41.5	48.9	934.0	1 395.3	1 817.3	1 664.3	215.1	139.0	100.8	54.9	26.3	17.0	8.5	5.0	71.0	27.8	31.2	43.9	766.7	1 002.6	365.9	384.0
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(15.6)	(3.3)	(6.7)	0	0	0	0	0
Total Assets	6 353.1	5 772.1	4 807.5	3 864.4	3 398.2	3 365.5	3 251.3	2 888.7	2 690.5	2 316.1	2 003.4	1 575.6	1 221.4	1 224.9	1 242.7	1 326.2	1 748.4	2 170.5	1 971.4	1 265.4	954.5	691.8	436.7	267.1	226.6	152.3	96.6	72.8	27.8	31.2	43.9	766.7	1 002.6	365.9	384.0
LIABILITIES
Accounts Payable	271.6	273.3	216.0	175.2	155.0	128.2	140.5	140.7	106.4	83.6	68.0	49.8	37.7	23.6	30.3	31.7	59.7	117.4	140.8	77.8	80.7	52.1	36.2	48.9	42.0	34.1	21.2	0	0	0	0	0	0	0	0
Short Term Debt	9.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15.6	17.3	32.1	10.9	9.8	0	0	0	0	0	22.0	20.6	0
Other Current Liabilities	(71.7)	373.4	342.6	286.8	241.8	198.9	(48.1)	213.5	187.4	172.4	166.0	105.3	85.2	95.6	121.9	125.1	202.8	266.7	402.4	239.4	67.4	41.3	32.9	0	239	178	0	0	0	0	0	0	(22.0)	(20.6)	0
Total Current Liabilities	271.6	671.8	595.9	496.4	405.3	334.7	355.7	339.9	303.8	267.1	256.6	158.6	126.1	119.2	152.2	156.8	262.5	384.1	430.1	213.4	148.1	93.5	84.6	66.2	74.1	45.0	30.9	0	0	0	0	0	0	0	0
Long Term Debt	1 052.7	1 173.4	1 186.2	1 048.3	1 053.2	1 310.1	1 283.8	1 112.3	1 117.0	935.2	905.1	722.8	606.4	605.8	605.0	629.0	729.9	733.3	592.1	471.4	351.5	264.9	162.0	68.9	53.8	26.3	13.1	30.5	7.8	11.8	19.9	699.3	889.4	243.3	234.8
Deferred Tax Income	0	10.8	10.9	8.9	9.1	(1 181.9)	(34.1)	(259.7)	(257.4)	(29.4)	(22.0)	(121.1)	0	0	0	0	0	0	20.9	1.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Liabilities	36.6	375.8	360.9	292.9	216.0	206.5	250.1	22.7	171.9	187.8	54.7	0	33.3	95.6	121.9	138.4	228.7	313.0	366.6	193.4	110.4	16.1	13.5	10.9	8.3	8.6	6.2	15.4	1.6	1.8	1.6	12.7	35.2	36.4	63.8
Total Liabilities	1 741.2	1 822.5	1 763.1	1 516.5	1 424.3	1 644.7	1 674.4	1 467.2	1 431.6	1 206.6	1 162.0	881.4	732.5	724.9	757.2	799.0	1 018.2	1 163.7	1 120.4	742.6	542.6	374.5	260.1	146.0	136.1	79.9	50.3	45.9	9.4	13.6	21.5	712.0	924.6	279.7	298.6
EQUITY
Common Stock	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.3	0.3	0.3	0.3	0.2	0.2	63 K	59 K	54.7 K	53.3 K	52.6 K	0	0	0	0	0	0	0	0
Retained Earnings	4 320.6	3 621.4	2 629.2	1 891.7	1 468.3	1 218.6	991.8	848.6	699.0	570.3	428.1	303.6	198.4	219.5	212.4	278.9	570.8	862.6	637.2	381.6	242.6	148.2	78.3	29.5	(8.1)	(27.1)	(51.1)	(65.3)	(23.8)	(24.9)	(20.3)	(29.1)	(6.0)	2.7	2.0
Other Accumulative Comprehensive Income/Loss	0	0	0	0	0	0	(57.2)	(47.9)	(39.5)	(34.1)	(31.0)	(28.5)	(33.8)	(38.4)	(38.9)	(45.7)	(33.6)	(33.6)	(24.4)	(11.8)	(11.8)	(10.5)	(7.1)	(5.4)	(3.5)	(2.9)	(0.4)	0	0	0	0	0	0	0	0
Total Equity	4 611.9	3 949.6	3 044.4	2 347.9	1 974.0	1 720.8	1 576.8	1 421.5	1 258.9	1 109.5	841.4	694.2	488.9	500.0	485.4	527.2	730.2	1 006.8	851.0	522.8	411.9	317.3	176.6	121.1	90.4	72.4	46.4	26.9	18.4	17.6	22.4	54.7	78.0	86.2	85.4
Total Liabilities and Equity	6 353.1	5 772.1	4 807.5	3 864.4	3 398.2	3 365.5	3 251.3	2 888.7	2 690.5	2 316.1	2 003.4	1 575.6	1 221.4	1 224.9	1 242.7	1 326.2	1 748.4	2 170.5	1 971.4	1 265.4	954.5	691.8	436.7	267.1	226.6	152.3	96.6	72.8	27.8	31.2	43.9	766.7	1 002.6	365.9	384.0
SHARES OUTSTANDING
Common Shares Outstanding	36.6	36.7	37.6	37.7	38.1	40.1	40.3	40.0	39.6	39.0	36.1	34.1	32.4	32.1	31.4	29.3	26.2	26.4	27.0	26.1	26.1	24.8	21.2	20.7	21.7	21.3	19.5	20.0	38.9	38.9	13.0	13.2	13.2	13.0	11.9

Balance Sheet

Premium Plan

Unlimited Plan