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.