M/I Homes Inc (MHO)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Inventory turnover | 1.07 | 1.08 | 1.09 | 1.16 | 1.24 |
| Receivables turnover | — | — | — | — | — |
| Payables turnover | — | — | — | — | — |
| Working capital turnover | 1.13 | 1.18 | 1.31 | 1.38 | 1.37 |
M/I Homes Inc's Inventory turnover has shown a slight decline over the years, decreasing from 1.24 in 2020 to 1.07 in 2024. This indicates that the company is selling and replenishing its inventory at a slower rate.
The Receivables turnover and Payables turnover ratios are not provided, which limits our ability to assess the efficiency of M/I Homes Inc's collections and payables management.
On the other hand, the Working capital turnover has been decreasing consistently from 1.37 in 2020 to 1.13 in 2024. This suggests that the company's efficiency in generating revenue from its working capital has decreased over the years, which may indicate a potential inefficiency in managing its working capital resources.
Overall, while the Inventory turnover reflects a decrease in inventory movement efficiency, the declining trend in Working capital turnover raises concerns about the company's overall operational efficiency in generating revenue relative to its working capital over the years.
Average number of days
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 341.38 | 338.68 | 334.39 | 315.53 | 295.20 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — |
M/I Homes Inc's Days of Inventory on Hand (DOH) has been increasing steadily over the years, from 295.20 days as of December 31, 2020, to 341.38 days as of December 31, 2024. This indicates that the company is taking longer to sell its inventory or that it may have excess inventory on hand.
The Days of Sales Outstanding (DSO) and Number of Days of Payables data are not available, suggesting that information on the company's accounts receivable collection period and accounts payable period is not provided in the dataset.
Overall, the increasing trend in the Days of Inventory on Hand could imply potential liquidity and efficiency challenges for M/I Homes Inc as it may be tying up more capital in inventory. However, more in-depth analysis is needed to fully assess the impact of these activity ratios on the company's operational performance.
Long-term
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Fixed asset turnover | — | — | 42.22 | 42.28 | 114.46 |
| Total asset turnover | 0.99 | 1.00 | 1.11 | 1.16 | 1.15 |
M/I Homes Inc's fixed asset turnover ratio has shown a decline over the years, standing at a high of 114.46 in 2020 and decreasing to 42.28 in 2021 and further to 42.22 in 2022. The absence of data for 2023 and 2024 prevents a complete trend analysis, but it is evident that the company's efficiency in generating sales from fixed assets has decreased significantly.
In contrast, the total asset turnover ratio has been relatively stable, ranging from 1.15 in 2020 to 0.99 in 2024. This indicates that the company has been able to efficiently utilize its total assets to generate sales revenue. However, the downward trend suggests a potential slowdown in asset utilization efficiency, which may warrant further investigation into the company's operational performance and asset management strategies.