Discounted Cash Flow

M/I Homes, Inc.

MHO · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.7b $56.6m $21.1m 3.3% $2.10
2017 $2.0b (16.0%) $72.1m (27.3%) $-61.3m (-390.8%) 3.7% (9.8%) $2.57 (22.4%)
2018 $2.3b (16.5%) $107.7m (49.4%) $-10.7m (82.5%) 4.7% (28.2%) $3.81 (48.2%)
2019 $2.5b (9.4%) $127.6m (18.5%) $61.1m (669.3%) 5.1% (8.4%) $4.58 (20.2%)
2020 $3.0b (21.8%) $239.9m (88.0%) $156.7m (156.4%) 7.9% (54.3%) $8.38 (83.0%)
2021 $3.7b (23.0%) $396.9m (65.4%) $-42.1m (-126.9%) 10.6% (34.5%) $13.64 (62.8%)
2022 $4.1b (10.3%) $490.7m (23.6%) $174.7m (514.8%) 11.9% (12.1%) $17.60 (29.0%)
2023 $4.0b (-2.4%) $465.4m (-5.2%) $546.4m (212.7%) 11.5% (-2.9%) $16.76 (-4.8%)
2024 $4.5b (11.7%) $563.7m (21.1%) $171.3m (-68.6%) 12.5% (8.5%) $20.29 (21.1%)
2025 $4.4b (-1.9%) $402.9m (-28.5%) $127.7m (-25.4%) 9.1% (-27.1%) $15.07 (-25.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model