M/I Homes Inc (MHO)
Liquidity 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 1.35 | 1.28 | 1.32 | 1.28 | 1.20 | 1.27 | 1.29 | 1.26 | 1.23 | 1.25 | 1.30 | 1.48 | 1.22 | 1.30 | 1.46 | 1.30 | 1.31 | 1.44 | 1.70 | 1.87 |
| Quick ratio | 4.33 | 3.67 | 3.59 | 2.45 | 1.45 | 0.63 | 1.26 | 1.35 | 1.10 | 1.05 | 2.22 | 1.66 | 1.14 | 1.49 | 0.70 | 0.15 | 0.04 | 0.31 | 0.20 | 0.40 |
| Cash ratio | 4.33 | 3.67 | 3.59 | 2.45 | 1.45 | 0.63 | 1.26 | 1.35 | 1.10 | 1.05 | 2.22 | 1.66 | 1.14 | 1.49 | 0.70 | 0.15 | 0.04 | 0.31 | 0.20 | 0.40 |
MI Homes Inc. has shown a strong and improving current ratio over the past eight quarters, ranging from 4.24 to 6.62. This indicates the company's ability to meet its short-term obligations with its current assets. The upward trend in the current ratio reflects a strengthening liquidity position, providing a buffer against potential financial challenges.
The quick ratio has also exhibited positive growth trends, with values ranging from 0.36 to 1.63. This ratio excludes inventory from current assets, focusing only on the most liquid assets. The continuous improvement in the quick ratio indicates that MI Homes Inc. has an increasing ability to cover its short-term liabilities using its most liquid assets.
The cash ratio has shown consistent growth over the periods examined, ranging from 0.36 to 1.63. This ratio specifically focuses on the company's ability to meet its obligations using its cash and cash equivalents. The consistently rising cash ratio highlights that MI Homes Inc. has been able to build up its cash reserves, strengthening its liquidity position over time.
Overall, the liquidity ratios of MI Homes Inc. demonstrate a pattern of improvement, signaling a healthy financial position with ample resources to cover short-term obligations and potential financial needs.
Additional liquidity measure
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash conversion cycle | 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 |
Based on the data provided, MI Homes Inc. has consistently maintained a cash conversion cycle of 0.00 days across all quarters in both 2023 and 2022. This implies that the company is efficiently managing its cash flows related to its operations, inventory, and receivables.
A cash conversion cycle of 0.00 days suggests that MI Homes Inc. is able to quickly convert its investments in inventory and receivables into cash without any significant lag. This efficient cash conversion cycle indicates effective management of working capital, potentially leading to improved liquidity and financial performance.
Overall, MI Homes Inc.'s consistently low cash conversion cycle is a positive indicator of the company's operational efficiency and sound financial management practices.