M/I Homes Inc (MHO)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	465,365	490,662	396,868	239,874	127,587
Revenue	US$ in thousands	4,033,500	4,131,390	3,745,890	3,046,140	2,500,290
Net profit margin		11.54%	11.88%	10.59%	7.87%	5.10%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $465,365K ÷ $4,033,500K
= 11.54%

The net profit margin of MI Homes Inc. has shown consistent growth over the past five years, increasing from 5.10% in 2019 to 11.54% in 2023. This indicates that the company has been effectively managing its expenses in relation to its revenues, resulting in a higher proportion of profits relative to sales. The upward trend in net profit margin suggests improved operational efficiency and cost control measures implemented by MI Homes Inc. This positive trajectory in net profit margin reflects the company's ability to generate more earnings from each dollar of sales, which can be a positive sign for investors and stakeholders.