M/I Homes Inc (MHO)

Operating return on assets (Operating ROA)

		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
Total assets	US$ in thousands	4,022,440	3,714,920	3,239,850	2,643,040	2,105,590
Operating ROA		14.60%	17.16%	16.00%	12.08%	8.89%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $587,222K ÷ $4,022,440K
= 14.60%

MI Homes Inc.'s operating return on assets (Operating ROA) has shown a positive trend over the past five years, increasing from 8.11% in 2019 to 14.60% in 2023. This indicates the company's ability to generate operating income from its assets has been improving. The highest operating ROA was recorded in 2022 at 17.65%, suggesting a strong performance in that year. The steady increase in the operating ROA reflects effective asset management and operational efficiency. MI Homes Inc. has been able to generate higher returns relative to its total assets, which is a positive sign for investors and stakeholders. It is worth noting that the company's operating ROA fluctuated slightly from year to year, but the overall trend remains upwards, showcasing consistent growth in operational performance.