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Income Statement
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Meritage Homes CORP (MTH)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsJun-30-23Mar-31-23Jun-30-22Mar-31-22Dec-31-21Sep-30-21Jun-30-21Mar-31-21
   8-K10-Q10-Q10-Q10-K10-Q10-Q8-K
Revenues    1,412.41,277.61,282.41,282.41,282.44.8
            Revenue growth    10.1%26791.2%    
Cost of goods sold    967.0932.6932.6932.6932.60.0
Gross profit    445.4345.0349.7349.7349.74.8
            Gross margin    31.5%27.0%27.3%27.3%27.3%100.0%
Selling, general and administrative   [+]  467.0466.7399.1402.1400.0389.5
Equity in earnings      -2.9   
Other operating expenses    -1,223.2-1,187.4-997.0-885.4-757.1-1,011.9
EBITDA   [+]  1,223.31,081.4964.1851.7 654.9
            EBITDA margin    86.6%84.6%75.2%66.4%56.7%13784.3%
Depreciation and amortization    24.618.619.421.6 30.6
EBIT   [+]  1,198.81,062.8944.7830.2704.0624.3
            EBIT margin    84.9%83.2%73.7%64.7%54.9%13140.7%
Interest expense     0.32.42.32.34.3
Other income (expense), net   [+]  -7.812.212.510.910.8 
Pre-tax income    1,190.81,074.7954.8838.7712.5612.7
Income taxes    285.2251.9217.4186.2151.6128.5
            Tax rate    24.0%23.4%22.8%22.2%21.3%21.0%
Net income    905.6822.9737.4652.5560.9484.2
            Net margin    64.1%64.4%57.5%50.9%43.7%10190.8%
   
Basic EPS   [+]  $24.33$21.93$19.57$17.30$14.88$12.86
Diluted EPS   [+]  $24.00$21.60$19.26$17.01$14.61$12.63
   
   
Shares outstanding (basic)   [+]  37.237.537.737.737.737.6
Shares outstanding (diluted)   [+]  37.738.138.338.438.438.3
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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