M/I Homes (M/I Homes) Inventory Turnover

: 0.27 (As of Dec. 2023)

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Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. M/I Homes's Cost of Goods Sold for the three months ended in Dec. 2023 was $728 Mil. M/I Homes's Average Total Inventories for the quarter that ended in Dec. 2023 was $2,718 Mil. M/I Homes's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.27.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. M/I Homes's Days Inventory for the three months ended in Dec. 2023 was 340.62.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. M/I Homes's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 2.79.

M/I Homes Inventory Turnover Historical Data

The historical data trend for M/I Homes's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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M/I Homes Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

1.19

1.31

1.33

1.19

1.09

M/I Homes Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover																0.33	0.29	0.29	0.29	0.27

M/I Homes Inventory Turnover Calculation

M/I Homes's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	3014.573	/ (	(2772.863	+	2745.543)	/	2 )
=	3014.573	/	2759.203
=	1.09

M/I Homes's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	728.202	/ (	(2690.933	+	2745.543)	/	2 )
=	728.202	/	2718.238
=	0.27

M/I Homes (NYSE:MHO) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

M/I Homes's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	2718.238	/	728.202	*	365 / 4
	=	340.62

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

M/I Homes's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	2718.238	/	972.588
	=	2.79

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

M/I Homes Inventory Turnover Related Terms

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M/I Homes (M/I Homes) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Homebuilding & Construction » M/I Homes Inc (NYSE:MHO) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

4MI:Germany 4MI:Germany

Address

4131 Worth Avenue, Suite 500, Columbus, OH, USA, 43219

Website

https://www.mihomes.com

M/I Homes Inc is an American construction company that focuses on residential construction. It consists of two distinct operations: homebuilding and financial services. The homebuilding operations are spread into the Midwest, Mid-Atlantic, and Southern regions and the financial services operations support homebuilding operations by providing mortgage loans and title services to the customers of homebuilding operations. Homebuilding operations comprise the most significant portion of the revenue. The company builds homes and communities that target entry-level, move-up, and luxury homebuyers.

Executives

Susan E Krohne	officer: Chief Legal Officer, Secretary	4131 WORTH AVE, SUITE 500, COLUMBUS OH 43219
Phillip G Creek	director, officer: Ex. Vice President and CFO
Robert H Schottenstein	director, officer: Chairman, CEO & President
Ann Marie Hunker	officer: Principal Accounting Officer
Bruce A Soll	director	17655 WATERVIEW PKWY, DALLAS TX 75252
Norman L Traeger	director
J Thomas Mason	director, officer: Ex. VP & Chief Legal Officer	3 EASTON OVAL, SUITE 500, COLUMBUS OH 43219
Kumi D Walker	director	17 STANBERRY AVENUE, BEXLEY OH 43209
William H Carter	director	C/O MOMENTIVE SPECIALTY CHEMICALS INC., 180 EAST BROAD STREET, COLUMBUS OH 43215
Michael P Glimcher	director	C/O GLIMCHER REALTY TRUST, 180 EAST BROAD STREET, COLUMBUS OH 43215
Nancy J Kramer	director
Friedrich Km Bohm	director
Elizabeth K Ingram	director	555 W. GOODALE STREET, COLUMBUS OH 43215
Thomas D Igoe	director
Sharen J Turney	director	THREE LIMITED PARKWAY, COLUMBUS OH 43230