M/I Homes Inc (MHO)

Operating return on assets (Operating ROA)

		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
Total assets	US$ in thousands	4,022,440	4,003,370	3,861,750	3,762,370	3,714,920	3,587,910	3,493,320	3,306,510	3,239,850	3,046,600	2,861,410	2,709,560	2,643,040	2,420,560	2,327,710	2,198,960	2,105,590	2,181,600	2,089,210	2,071,780
Operating ROA		14.60%	15.53%	15.98%	17.25%	17.16%	17.09%	16.35%	16.03%	16.00%	15.79%	15.80%	14.19%	12.08%	11.24%	9.91%	9.22%	8.89%	8.29%	8.14%	7.84%

December 31, 2023 calculation

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

MI Homes Inc.'s operating return on assets (operating ROA) has shown a slight fluctuation over the past eight quarters. The trend indicates a relatively stable performance in utilizing its assets to generate operating profits. While there was a slight decline in operating ROA from Q4 2022 to Q1 2023, it rebounded in Q2 2023 and remained relatively consistent in subsequent quarters. Overall, the company has been able to maintain an average operating ROA of approximately 16.50% over the period under review, indicating effective asset management and operational efficiency.