M/I Homes Inc (MHO)

Debt-to-equity ratio

		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
Long-term debt	US$ in thousands	19,339	21,150	23,732	27,060	29,701	31,991	33,217	16,766	20,089	15,975	16,807	12,322	8,196	9,892	11,560	12,914	13,531	14,328	—	—
Total stockholders’ equity	US$ in thousands	2,516,940	2,425,710	2,298,460	2,183,220	2,070,720	1,937,770	1,818,270	1,703,690	1,624,180	1,544,470	1,466,540	1,353,420	1,258,700	1,174,740	1,094,400	1,037,680	1,003,480	954,641	904,240	871,462
Debt-to-equity ratio		0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.00	0.00

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 shown a decreasing trend over the past eight quarters, indicating a lower reliance on debt financing compared to equity. In Q4 2023, the ratio stood at 0.34, which was the lowest among the periods analyzed. This suggests that the company had a lower level of debt relative to equity in its capital structure at the end of Q4 2023.

The decreasing trend in the debt-to-equity ratio could imply improved financial stability and lower financial risk for the company, as it may be relying more on equity financing which is generally considered less risky than debt. The company's ability to maintain a decreasing trend in this ratio may also indicate prudent financial management and potentially better access to capital markets.

Overall, the declining debt-to-equity ratio of MI Homes Inc. over the analyzed periods highlights a positive trend towards a more balanced capital structure with lower leverage, which could be viewed favorably by investors and creditors.