Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Meritage HomesMTH -0.67%77 Cyclically Adjusted PS Ratio is 0.96 as of Aug. 14, 2026, which is 6% below its 10-year median of 1.02. GuruFocus rates MTH with a GF Score™ of 77/100 and a GF Value™ of $69.96 (Fairly Valued). The stock has 5 warning signs investors should review. Among 70 Homebuilding & Construction companies, Meritage Homes ranks worse than 65.71% on this metric.
The historical rank and industry rank for Meritage Homes's Cyclically Adjusted PS Ratio or its related term are showing as below:
MTH'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.5 Med: 1.02 Max: 1.69
Current: 0.97
During the past years, Meritage Homes's highest Cyclically Adjusted PS Ratio was 1.69. The lowest was 0.50. And the median was 1.02.
MTH's Cyclically Adjusted PS Ratio is ranked worse than 65.71% of 70
companies
in the Homebuilding & Construction industry
Industry Median: 0.65
vs MTH: 0.97
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Meritage Homes's adjusted revenue per share data for the three months ended in Jun. 2026 was $21.323. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $75.88 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Meritage Homes (NYSE:MTH) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
Meritage Homes Cyclically Adjusted PS Ratio Related Terms
Meritage Homes Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Meritage Homes's Cyclically Adjusted PS Ratio 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.
MTH vs SKY, CVCO, MHO: Cyclically Adjusted PS Ratio Comparison
For the Residential Construction subindustry, Meritage Homes's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Meritage Homes Cyclically Adjusted PS Ratio vs Homebuilding & Construction Industry
For the Homebuilding & Construction industry and Consumer Cyclical sector, Meritage Homes's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Meritage Homes's Cyclically Adjusted PS Ratio falls into.
Meritage Homes Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
Meritage Homes's Cyclically Adjusted PS Ratio for today is calculated as
* 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.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 0.96 mean?
Meritage Homes (MTH) has a Cyclically Adjusted PS Ratio of 0.96 as of Aug. 14, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Meritage Homes and its competitors. This is near median its historical median of 1.02. Over the past decade, Meritage Homes' Cyclically Adjusted PS Ratio has ranged from 0.50 to 1.69. According to the industry distribution chart, Meritage Homes ranks #46 out of 70 companies in the Homebuilding & Construction industry, placing it in the top 65.7%.
Is Meritage Homes' Cyclically Adjusted PS Ratio too high?
Meritage Homes' current Cyclically Adjusted PS Ratio of 0.96 is near median its 10-year median of 1.02. Over the past 10 years, this metric has ranged from a low of 0.50 to a high of 1.69. The Homebuilding & Construction industry median Cyclically Adjusted PS Ratio is 0.65. Meritage Homes' value of 0.96 is 47.7% above this industry median. Based on the distribution chart, Meritage Homes ranks #46 out of 70 companies in the Homebuilding & Construction industry, which is below the industry midpoint. Overall, Meritage Homes has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Meritage Homes' Cyclically Adjusted PS Ratio compare to SKY and CVCO?
According to the Homebuilding & Construction industry distribution chart, Meritage Homes ranks #46 out of 70 companies for Cyclically Adjusted PS Ratio. This places Meritage Homes in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.65. Meritage Homes' value of 0.96 is 47.7% above this benchmark. Historically, Meritage Homes' own Cyclically Adjusted PS Ratio has ranged from 0.50 to 1.69 over the past decade. While the company's 10-year median is 1.02 vs. the industry median of 0.65, Meritage Homes has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Homebuilding & Construction company?
The median Cyclically Adjusted PS Ratio among Homebuilding & Construction companies is 0.65, based on 70 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Meritage Homes's current Cyclically Adjusted PS Ratio of 0.96 is 47.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Meritage Homes and its competitors. For the Homebuilding & Construction industry, the median Cyclically Adjusted PS Ratio is 0.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Meritage Homes's current Cyclically Adjusted PS Ratio is 0.96, which is near median its own 10-year median of 1.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Meritage Homes stock overvalued right now?
Based on GuruFocus' analysis, Meritage Homes (MTH) is currently considered Fairly Valued. The stock's GF Value™ is $69.96, compared to a current price of $73.13 — trading 4.5% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.96, which is near median its 10-year median of 1.02 and 47.7% above the Homebuilding & Construction industry median of 0.65. Meritage Homes' overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Meritage Homes (MTH), the current Cyclically Adjusted PS Ratio is 0.96 as of Aug. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Meritage Homes (MTH) Overvalued in 2026?
Based on GuruFocus' analysis, Meritage Homes stock appears to be overvalued.
The current stock price of $73.13 is trading 4.5% above its estimated GF Value™ of $69.96.
GuruFocus considers Meritage Homes to be Fairly Valued.
Key valuation signals for MTH:
Cyclically Adjusted PS Ratio: 0.96 (near median its 10-year median of 1.02)
GF Value™: $69.96 vs. price of $73.13 (4.5% above fair value)
Industry Position: 47.7% above the Homebuilding & Construction median (#46 of 70)
No single metric tells the full story. See the MTH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Meritage Homes Corp is engaged as a designer and builder of single-family attached and detached homes. It has operations in three regions: West, Central, and East, comprising twelve states: Arizona, California, Colorado, Utah, Tennessee, Texas, Alabama, Florida, Georgia, Mississippi, North Carolina, and South Carolina. The company operates with two principal business segments: homebuilding and financial services. The homebuilding segments are engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services, and the financial services segment offers title and escrow, mortgage, and insurance services. The company generates key revenue from the Homebuilding segment.
77GF Score
Get the complete analysis for MTH
Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MTH has been successfully added to your 
