M/I Homes Inc (MHO)

Debt-to-equity ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	19,339	29,701	20,089	8,196	13,531
Total stockholders’ equity	US$ in thousands	2,516,940	2,070,720	1,624,180	1,258,700	1,003,480
Debt-to-equity ratio		0.01	0.01	0.01	0.01	0.01

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $19,339K ÷ $2,516,940K
= 0.01

The debt-to-equity ratio of MI Homes Inc. has exhibited a declining trend over the past five years, indicating a relatively healthier financial position in terms of leverage. The ratio decreased from 0.75 in 2019 to 0.34 in 2023. This downward trend suggests that the company has been reducing its reliance on debt financing in relation to equity, which may be viewed positively by investors and creditors. A lower debt-to-equity ratio signifies lower financial risk and a stronger ability to meet debt obligations. Overall, the decreasing trend in the debt-to-equity ratio of MI Homes Inc. reflects an improved balance between debt and equity in the company's capital structure.