Meritage Homes Corporation

Meritage Homes Corporation (MTH) reported strong FY 2025 financial performance with total closing revenue of $5.86B, driven by homebuilding operations. Gross profit reached $1.16B on cost of goods sold of $4.69B and additional cost of revenue $17.6M. After deducting commissions and other sales costs of $404.4M, general and administrative expenses of $211.8M, offset by earnings from financial services unconsolidated entities of $3.0M and other income of $44.1M, earnings before income taxes were $584.6M. Provision for income taxes was $131.6M, resulting in net earnings of $453.0M, or $6 basic and diluted earnings per share. Balance sheet shows total assets of $7.62B, including $775.2M cash and $5.99B real estate, with total liabilities $2.43B and stockholders' equity $5.20B. Operating cash flow was $118.3M, investing cash outflow $57.7M, financing inflow $63.0M, yielding net cash increase of $123.6M. No prior year figures disclosed in filing for YoY comparison. Strong profitability and liquidity position supports ongoing homebuilding investments amid real estate impairments of $18.1M and deposit write-offs of $39.4M.

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