M/I Homes Inc (MHO)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	587,222	637,451	518,296	319,261	187,089
Revenue	US$ in thousands	4,033,500	4,131,390	3,745,890	3,046,140	2,500,290
Operating profit margin		14.56%	15.43%	13.84%	10.48%	7.48%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $587,222K ÷ $4,033,500K
= 14.56%

Operating profit margin measures the company's efficiency in generating profit from its core operations. MI Homes Inc. has shown a positive trend in its operating profit margin over the past five years. The margin has steadily increased from 6.83% in 2019 to 14.56% in 2023. This indicates that the company has been able to improve its operational efficiency and control costs effectively. The consistent improvement in operating profit margin signifies a stronger financial performance and profitability for MI Homes Inc. The company's ability to maintain and increase its operating profit margin reflects sound management and operational strategies.