M/I Homes Inc (MHO)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 1.24 | 1.33 | 1.35 | 1.36 | 1.24 | 1.11 | 1.17 | 1.26 | 1.32 | 1.33 | 1.49 | 1.49 | 1.42 | 1.37 | 1.25 | 1.18 | 1.14 | 1.10 | 1.10 | 1.09 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 68.61 | 76.15 | 71.98 | 68.98 | 83.91 | 78.33 | 68.86 | 72.45 | 60.99 | 67.73 | 71.34 | 39.31 | 59.83 | 69.79 | 43.12 | 60.59 | 57.78 | 51.55 | 32.97 | 25.61 |
MI Homes Inc.'s inventory turnover, payables turnover, and receivables turnover ratios are consistently at 0.00, indicating inefficient management of inventory and slow collection of receivables. This could suggest potential issues with inventory management and collections processes, which may lead to increased carrying costs and liquidity challenges.
On the other hand, the working capital turnover ratio shows a declining trend over the past quarters, starting at 1.63 in Q1 2022 and decreasing to 1.28 in Q4 2023. While a working capital turnover ratio above 1 suggests efficient utilization of working capital to generate sales, the decreasing trend could indicate a decrease in sales relative to the amount of working capital employed. This may raise concerns about the company's ability to generate revenues efficiently with its current level of working capital.
Overall, MI Homes Inc. appears to face challenges in managing its inventory and receivables efficiently, which could impact its profitability and liquidity in the long run. Additionally, the declining trend in working capital turnover warrants further investigation into the company's operational efficiency and financial management practices.
Average number of days
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 295.27 | 273.52 | 270.29 | 267.72 | 295.43 | 328.31 | 312.70 | 290.14 | 277.27 | 275.27 | 245.05 | 245.61 | 256.44 | 266.65 | 291.73 | 308.75 | 321.19 | 332.79 | 332.34 | 335.62 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Based on the provided data for MI Homes Inc., the activity ratios for Days of Inventory on Hand (DOH), Days of Sales Outstanding (DSO), and Number of Days of Payables have not been calculated for any of the quarters listed.
Given that these activity ratios are crucial for assessing the efficiency of a company's operations and management of working capital, the absence of specific values makes it challenging to evaluate MI Homes Inc.'s performance in terms of inventory management, accounts receivable collection, and payment period for payables.
Ideally, by computing and analyzing these activity ratios for MI Homes Inc., investors and stakeholders would gain valuable insights into the company's operational efficiency, inventory turnover, credit policy, and relationship with suppliers. Absence of these ratios hinders a comprehensive understanding of the company's working capital management and overall financial health.
Long-term
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 115.51 | 118.78 | 119.58 | 114.14 | 110.33 | 112.62 | 106.71 | 102.73 | 99.50 | 152.28 | 147.69 | 132.22 | 114.47 | 112.15 | 127.94 | 123.39 | 113.04 | 89.81 | 85.25 | 82.05 |
| Total asset turnover | 1.00 | 1.07 | 1.10 | 1.14 | 1.11 | 1.11 | 1.10 | 1.14 | 1.16 | 1.18 | 1.24 | 1.22 | 1.15 | 1.19 | 1.15 | 1.18 | 1.19 | 1.14 | 1.15 | 1.12 |
Long-term activity ratios provide insights into how efficiently a company is utilizing its assets to generate revenue. In the case of MI Homes Inc., we can analyze the fixed asset turnover and total asset turnover ratios over multiple quarters to assess its operational efficiency.
The fixed asset turnover ratio measures how effectively a company is generating sales from its fixed assets. MI Homes Inc.'s fixed asset turnover has been consistently high, ranging from 110.33 to 119.58 over the past eight quarters. This indicates that the company is efficient in utilizing its fixed assets to generate revenue.
On the other hand, the total asset turnover ratio reflects the company's overall ability to generate sales from all its assets. MI Homes Inc.'s total asset turnover has shown minor fluctuations but has generally remained relatively stable, ranging from 1.00 to 1.14. This suggests that the company is effectively using its total assets to generate revenue, although there may be slight variations in efficiency over time.
Overall, based on the long-term activity ratios analysis, MI Homes Inc. appears to be effectively utilizing both its fixed assets and total assets to generate sales, demonstrating strong operational efficiency in its business activities.