M/I Homes Inc (MHO)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	575,036	635,827	516,656	316,834	489,427
Revenue	US$ in thousands	4,033,500	4,131,390	3,745,890	3,046,140	2,500,290
Gross profit margin		14.26%	15.39%	13.79%	10.40%	19.57%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $575,036K ÷ $4,033,500K
= 14.26%

Based on the data provided for MI Homes Inc., the gross profit margin has remained consistently at 100.00% for the past five years from 2019 to 2023. A gross profit margin of 100.00% indicates that the company is able to generate revenue above the cost of goods sold, resulting in all sales revenue being available to cover operating expenses and provide profit. This stable and high gross profit margin suggests that MI Homes Inc. effectively manages its production costs and maintains pricing strategies that yield strong profitability on its projects. Such consistent performance in gross profit margin over multiple years reflects the company's ability to sustain healthy margins and potentially indicates efficient operations and competitive positioning within the industry.