Meritage Corporation (MTH)

Return on total capital

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Earnings before interest and tax (EBIT) US$ in thousands 537,477 958,345 1,270,390 1,286,640 970,576
Long-term debt US$ in thousands — — — — —
Total stockholders’ equity US$ in thousands 5,195,640 5,141,570 4,611,900 3,949,610 3,044,390
Return on total capital 10.34% 18.64% 27.55% 32.58% 31.88%

December 31, 2025 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $537,477K ÷ ($—K + $5,195,640K)
= 10.34%