M/I Homes Inc (MHO)

Operating profit margin

		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
Operating income (ttm)	US$ in thousands	587,222	621,762	616,926	649,132	637,451	613,130	571,055	529,904	518,296	481,153	452,029	384,554	319,261	272,174	230,727	202,701	187,089	180,907	170,120	162,412
Revenue (ttm)	US$ in thousands	4,033,498	4,277,910	4,244,470	4,271,110	4,131,391	3,966,141	3,857,530	3,777,920	3,745,885	3,600,562	3,544,164	3,297,318	3,046,145	2,881,868	2,687,292	2,596,784	2,500,290	2,480,625	2,395,122	2,329,534
Operating profit margin		14.56%	14.53%	14.53%	15.20%	15.43%	15.46%	14.80%	14.03%	13.84%	13.36%	12.75%	11.66%	10.48%	9.44%	8.59%	7.81%	7.48%	7.29%	7.10%	6.97%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $587,222K ÷ $4,033,498K
= 14.56%

MI Homes Inc. has shown relatively consistent operating profit margins over the past eight quarters, ranging from 13.92% to 15.87%. The company's operating profit margin peaked in Q4 of 2022 at 15.87% and has since remained above 14%, indicating efficient cost management and revenue generation. Despite a slight decrease in the most recent quarter to 14.56%, the overall trend suggests stable profitability. MI Homes Inc. appears to be effectively controlling its operating expenses in relation to revenue, reflecting a healthy financial position and operational efficiency.