$MTH
Meritage Homes CORP Stock $mth

$mth Overview Financials Valuation SEC Filings Company Website

2023 Q4 Form 10-Q Financial Statement

#000083307923000147 Filed on November 01, 2023

Income Statement

Concept	2023 Q4	2023 Q3	2022 Q3
Revenue	$1.660B	$1.619B	$1.584B
YoY Change	-16.93%	2.2%	25.23%
Cost Of Revenue	$1.348B	$1.285B	$1.208B
YoY Change	-16.04%	6.43%	25.97%
Gross Profit	$312.5M	$333.9M	$376.7M
YoY Change	-20.56%	-11.35%	22.94%
Gross Profit Margin	18.82%	20.62%	23.77%
Selling, General & Admin	$68.97M	$162.2M	$126.3M
YoY Change	21.83%	28.41%	8.77%
% of Gross Profit	22.07%	48.58%	33.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$7.734M	$6.400M	$5.822M
YoY Change	7.37%	9.93%	-10.13%
% of Gross Profit	2.47%	1.92%	1.55%
Operating Expenses	$56.06M	$162.2M	$126.3M
YoY Change	5.67%	28.41%	8.77%
Operating Profit	$256.5M	$171.7M	$250.3M
YoY Change	-24.65%	-31.42%	31.59%
Interest Expense	$2.418M	$0.00	$0.00
YoY Change	26.07%		-100.0%
% of Operating Profit	0.94%	0.0%	0.0%
Other Income/Expense, Net		$13.33M	-$74.00K
YoY Change		-18114.86%	-105.84%
Pretax Income	$258.9M	$285.7M	$329.5M
YoY Change	-24.36%	-13.28%	25.9%
Income Tax	$60.02M	$63.97M	$67.00M
% Of Pretax Income	23.18%	22.39%	20.34%
Net Earnings	$198.9M	$221.8M	$262.5M
YoY Change	-24.21%	-15.52%	30.75%
Net Earnings / Revenue	11.98%	13.7%	16.57%
Basic Earnings Per Share		$6.06	$7.18
Diluted Earnings Per Share	$5.38	$5.98	$7.10
COMMON SHARES
Basic Shares Outstanding	36.45M shares	36.77M shares	36.57M
Diluted Shares Outstanding		37.08M shares	36.95M shares

Balance Sheet

Concept	2023 Q4	2023 Q3	2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$921.2M	$1.049B	$299.4M
YoY Change	6.93%	250.32%	-46.76%
Cash & Equivalents	$921.2M	$1.049B	$299.4M
Short-Term Investments
Other Short-Term Assets	$218.6M	$115.0M	$171.9M
YoY Change	94.13%	-33.08%	218.54%
Inventory	$4.721B	$4.501B	$4.726B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$6.128B	$5.894B	$5.338B
YoY Change	10.47%	10.42%	22.49%
LONG-TERM ASSETS
Property, Plant & Equipment	$48.95M	$50.82M	$39.44M
YoY Change	26.71%	28.87%	7.77%
Goodwill	$32.96M	$32.96M	$32.96M
YoY Change	0.0%	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments	$17.17M	$15.10M	$11.36M
YoY Change	46.09%	32.97%	190.81%
Other Assets	$47.57M	$45.90M	$41.06M
YoY Change	4.67%	11.79%	5.69%
Total Long-Term Assets	$225.1M	$287.8M	$233.2M
YoY Change	0.18%	23.4%	12.41%
TOTAL ASSETS
Total Short-Term Assets	$6.128B	$5.894B	$5.338B
Total Long-Term Assets	$225.1M	$287.8M	$233.2M
Total Assets	$6.353B	$6.182B	$5.571B
YoY Change	10.07%	10.96%	22.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$271.7M	$294.2M	$322.2M
YoY Change	-0.59%	-8.7%	50.17%
Accrued Expenses	$424.8M	$384.4M	$353.5M
YoY Change	26.63%	8.74%	18.68%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$733.0M	$755.4M	$733.5M
YoY Change	9.11%	2.98%	26.69%
LONG-TERM LIABILITIES
Long-Term Debt	$1.008B	$1.005B	$1.156B
YoY Change	-12.38%	-13.01%	-0.47%
Other Long-Term Liabilities			$0.00
YoY Change
Total Long-Term Liabilities	$1.008B	$1.005B	$1.156B
YoY Change	-12.38%	-13.01%	-0.47%
TOTAL LIABILITIES
Total Short-Term Liabilities	$733.0M	$755.4M	$733.5M
Total Long-Term Liabilities	$1.008B	$1.005B	$1.156B
Total Liabilities	$1.741B	$1.761B	$1.889B
YoY Change	-4.46%	-6.8%	8.57%
SHAREHOLDERS EQUITY
Retained Earnings	$4.321B	$4.132B	$3.359B
YoY Change	19.31%	23.0%	40.44%
Common Stock	$291.3M	$289.5M	$322.8M
YoY Change	-11.25%	-10.33%	-25.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$4.612B	$4.421B	$3.682B
YoY Change
Total Liabilities & Shareholders Equity	$6.353B	$6.182B	$5.571B
YoY Change	10.07%	10.96%	22.03%

Cashflow Statement

Concept	2023 Q4	2023 Q3	2022 Q3
OPERATING ACTIVITIES
Net Income	$198.9M	$221.8M	$262.5M
YoY Change	-24.21%	-15.52%	30.75%
Depreciation, Depletion And Amortization	$7.734M	$6.400M	$5.822M
YoY Change	7.37%	9.93%	-10.13%
Cash From Operating Activities	-$104.5M	$104.2M	$37.02M
YoY Change	-118.18%	181.48%	-135.18%
INVESTING ACTIVITIES
Capital Expenditures	$6.992M	$10.10M	-$6.685M
YoY Change	-5.95%	-251.08%	-3.67%
Acquisitions
YoY Change
Other Investing Activities	-$1.931M	-$2.500M	$60.00K
YoY Change	-6329.03%	-4266.67%	-46.43%
Cash From Investing Activities	-$8.923M	-$12.60M	-$6.625M
YoY Change	20.53%	90.19%	-2.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-14.08M	-206.1M	-3.153M
YoY Change	155.96%	6436.63%	-68.54%
NET CHANGE
Cash From Operating Activities	-104.5M	104.2M	37.02M
Cash From Investing Activities	-8.923M	-12.60M	-6.625M
Cash From Financing Activities	-14.08M	-206.1M	-3.153M
Net Change In Cash	-127.5M	-114.5M	27.24M
YoY Change	-122.69%	-520.34%	-122.31%
FREE CASH FLOW
Cash From Operating Activities	-$104.5M	$104.2M	$37.02M
Capital Expenditures	$6.992M	$10.10M	-$6.685M
Free Cash Flow	-$111.5M	$94.10M	$43.70M
YoY Change	-119.65%	115.32%	-144.46%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	36449906	shares
CY2023Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	36449906	shares
	us-gaap	Payments Of Dividends PaymentsOfDividends	29695000	usd
	us-gaap	Payments Of Dividends PaymentsOfDividends	0	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	55000000	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	109303000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-238195000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-124256000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	187194000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-318948000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	861561000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	618335000	usd
CY2023Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1048755000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	299387000	usd
CY2023Q3	mth	Entity Operations In Number Of Regions EntityOperationsInNumberOfRegions	3	region
CY2023Q3	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	10	state
CY2023Q3	mth	Numberof Communitiesin Which Homesare Sold NumberofCommunitiesinWhichHomesareSold	272	community
CY2023Q3	us-gaap	Deposit Assets DepositAssets	93500000	usd
CY2022Q4	us-gaap	Deposit Assets DepositAssets	76700000	usd
CY2023Q3	mth	Accruals Related To Real Estate Development And Construction Activities AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities	145467000	usd
CY2022Q4	mth	Accruals Related To Real Estate Development And Construction Activities AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities	139447000	usd
CY2023Q3	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	107413000	usd
CY2022Q4	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	110338000	usd
CY2023Q3	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	18257000	usd
CY2023Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	49619000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	19129000	usd
CY2023Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	52340000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	22782000	usd
CY2022Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	7026000	usd
CY2023Q3	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	28674000	usd
CY2022Q4	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	25182000	usd
CY2023Q3	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	39145000	usd
CY2022Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	35575000	usd
CY2023Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	52340000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	22782000	usd
CY2023Q3	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	21796000	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	20265000	usd
CY2023Q3	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	413092000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	360615000	usd
CY2023Q2	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	36215000	usd
CY2022Q2	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	31437000	usd
CY2022Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	35575000	usd
CY2021Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	26264000	usd
CY2023Q3	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	6444000	usd
CY2022Q3	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	5583000	usd
	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	16832000	usd
	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	15419000	usd
CY2023Q3	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	3514000	usd
CY2022Q3	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	5305000	usd
	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	13262000	usd
	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	9968000	usd
CY2023Q3	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
CY2022Q3	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
CY2023Q3	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	39145000	usd
CY2022Q3	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	31715000	usd
CY2023Q3	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	39145000	usd
CY2022Q3	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	31715000	usd
CY2023Q3	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	14740000	usd
CY2022Q3	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	15179000	usd
CY2023Q3	us-gaap	Interest Expense InterestExpense	0	usd
CY2022Q3	us-gaap	Interest Expense InterestExpense	0	usd
CY2022Q4	mth	Contract Asset Insurance Renewals ContractAssetInsuranceRenewals	0	usd
CY2023Q3	mth	Contract Asset Insurance Renewals ContractAssetInsuranceRenewals	0	usd
CY2023Q3	mth	Inventory Sold Homes Under Construction InventorySoldHomesUnderConstruction	931820000	usd
CY2022Q4	mth	Inventory Sold Homes Under Construction InventorySoldHomesUnderConstruction	822428000	usd
CY2023Q3	mth	Inventory Unsold Homes Completed And Under Construction InventoryUnsoldHomesCompletedAndUnderConstruction	1027352000	usd
CY2022Q4	mth	Inventory Unsold Homes Completed And Under Construction InventoryUnsoldHomesCompletedAndUnderConstruction	1155543000	usd
CY2023Q3	mth	Inventory Model Homes InventoryModelHomes	112306000	usd
CY2022Q4	mth	Inventory Model Homes InventoryModelHomes	97198000	usd
CY2023Q3	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2429880000	usd
CY2022Q4	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2283094000	usd
CY2023Q3	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	4501358000	usd
CY2022Q4	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	4358263000	usd
CY2023Q3	us-gaap	Inventory Land Held For Development And Sale InventoryLandHeldForDevelopmentAndSale	7100000	usd
CY2022Q4	us-gaap	Inventory Land Held For Development And Sale InventoryLandHeldForDevelopmentAndSale	66800000	usd
CY2023Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	61078000	usd
CY2022Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	61459000	usd
CY2023Q3	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	17342000	usd
CY2022Q3	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	14548000	usd
CY2023Q3	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	58476000	usd
CY2022Q3	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	62090000	usd
CY2023Q3	mth	Land Under Purchase Contracts And Options Recorded Number Of Lots LandUnderPurchaseContractsAndOptionsRecordedNumberOfLots	0	lot
CY2023Q3	mth	Land Under Purchase Contracts And Options Recorded LandUnderPurchaseContractsAndOptionsRecorded	0	usd
CY2023Q3	mth	Land Under Purchase Contracts And Options Recorded Cash Deposits LandUnderPurchaseContractsAndOptionsRecordedCashDeposits	0	usd
CY2023Q3	mth	Land Under Option Contracts Not Recorded Non Refundable Committed Number Of Lots LandUnderOptionContractsNotRecordedNonRefundableCommittedNumberOfLots	7498	lot
CY2023Q3	mth	Land Under Option Contracts Not Recorded Non Refundable Committed LandUnderOptionContractsNotRecordedNonRefundableCommitted	399674000	usd
CY2023Q3	mth	Land Under Option Contracts Not Recorded Non Refundable Committed Cash Deposits LandUnderOptionContractsNotRecordedNonRefundableCommittedCashDeposits	41794000	usd
CY2023Q3	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed Number Of Lots LandUnderPurchaseContractsNotRecordedNonRefundableCommittedNumberOfLots	7554	lot
CY2023Q3	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed LandUnderPurchaseContractsNotRecordedNonRefundableCommitted	248934000	usd
CY2023Q3	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed Cash Deposits LandUnderPurchaseContractsNotRecordedNonRefundableCommittedCashDeposits	31360000	usd
CY2023Q3	mth	Land Under Purchase Contracts Not Recorded Refundable Committed Number Of Lots LandUnderPurchaseContractsNotRecordedRefundableCommittedNumberOfLots	996	lot
CY2023Q3	mth	Land Under Purchase Contracts Not Recorded Refundable Committed LandUnderPurchaseContractsNotRecordedRefundableCommitted	72759000	usd
CY2023Q3	mth	Land Under Purchase Contracts Not Recorded Refundable Committed Cash Deposits LandUnderPurchaseContractsNotRecordedRefundableCommittedCashDeposits	4891000	usd
CY2023Q3	mth	Land Under Purchase And Option Contracts Committed Number Of Lots LandUnderPurchaseAndOptionContractsCommittedNumberOfLots	16048	lot
CY2023Q3	mth	Land Under Purchase And Option Contracts Committed LandUnderPurchaseAndOptionContractsCommitted	721367000	usd
CY2023Q3	mth	Land Under Purchase And Option Contracts Committed Cash Deposits LandUnderPurchaseAndOptionContractsCommittedCashDeposits	78045000	usd
CY2023Q3	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Number Of Lots LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedNumberOfLots	28416	lot
CY2023Q3	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommitted	901198000	usd
CY2023Q3	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Cash Deposits LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedCashDeposits	15456000	usd
CY2023Q3	mth	Land Under Purchase And Option Contracts Number Of Lots LandUnderPurchaseAndOptionContractsNumberOfLots	44464	lot
CY2023Q3	mth	Land Under Purchase And Option Contracts LandUnderPurchaseAndOptionContracts	1622565000	usd
CY2023Q3	mth	Land Under Purchase And Option Contracts Cash Deposits LandUnderPurchaseAndOptionContractsCashDeposits	93501000	usd
CY2023Q3	mth	Land Under Option Contract Not Recorded Number Of Lots LandUnderOptionContractNotRecordedNumberOfLots	44464	lot
CY2023Q3	us-gaap	Land Under Purchase Options Not Recorded LandUnderPurchaseOptionsNotRecorded	1622565000	usd
CY2023Q3	mth	Land Under Option Contract Not Recorded Cash Deposits LandUnderOptionContractNotRecordedCashDeposits	93501000	usd
CY2023Q3	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	0	usd
CY2022Q3	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	40000000	usd
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	40000000	usd
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	40000000	usd
	us-gaap	Extinguishment Of Debt Amount ExtinguishmentOfDebtAmount	900000	usd
CY2023Q3	us-gaap	Extinguishment Of Debt Amount ExtinguishmentOfDebtAmount	900000	usd
CY2023Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36603000	shares
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36569000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36677000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36736000	shares
CY2023Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	475000	shares
CY2022Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	377000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	432000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	400000	shares
CY2023Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	37078000	shares
CY2022Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	36946000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	37109000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	37136000	shares
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	221760000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	262489000	usd
	us-gaap	Net Income Loss NetIncomeLoss	539897000	usd
	us-gaap	Net Income Loss NetIncomeLoss	729827000	usd
CY2023Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	6.06
CY2022Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	7.18
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	14.72
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	19.87
CY2023Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	5.98
CY2022Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	7.10
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	14.55
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	19.65
CY2023Q3	us-gaap	Goodwill Goodwill	33000000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	32962000	usd
	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	0	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	3949611000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	131301000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	6225000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	0	usd
CY2023Q1	us-gaap	Dividends Dividends	9927000	usd
CY2023Q1	us-gaap	Dividends Dividends	9927000	usd
CY2023Q1	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	10000000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	4067210000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	186836000	usd
CY2023Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	4176000	usd
CY2023Q2	us-gaap	Dividends Dividends	9927000	usd
CY2023Q2	us-gaap	Dividends Dividends	9927000	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	4248295000	usd
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	221760000	usd
CY2023Q3	us-gaap	Dividends Dividends	9841000	usd
CY2023Q3	us-gaap	Dividends Dividends	9841000	usd
CY2023Q3	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	45328000	usd
CY2022Q1	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	99303000	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	3168315000	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	250084000	usd
CY2022Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	4070000	usd
CY2022Q2	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	10000000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	262489000	usd
CY2022Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	6852000	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	0	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	3681810000	usd
CY2023Q3	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.27
	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.81
	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0
CY2022Q3	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0
	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	177577000	usd
CY2023Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	6156000	usd
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	6852000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	16557000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	16897000	usd
CY2023Q3	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	32844000	usd
CY2022Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	29187000	usd
	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y11M19D
	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y11M23D
CY2023Q3	mth	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding	703415	shares
CY2022Q4	mth	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding	803769	shares
CY2023Q3	mth	Share Based Compensation Arrangement Payout Percentage ShareBasedCompensationArrangementPayoutPercentage	1
CY2023Q3	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	52845000	usd
CY2022Q3	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	54114000	usd
	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	121116000	usd
CY2023Q3	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	11129000	usd
CY2022Q3	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	12888000	usd
	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	29548000	usd
	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	39665000	usd
CY2023Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	63974000	usd
CY2022Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	67002000	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	150664000	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	217242000	usd
CY2023Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.224
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.218
CY2022Q3	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.203
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.229
CY2022Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2023Q3	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2023Q3	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	0	usd
CY2023Q3	us-gaap	Operating Loss Carryforwards Valuation Allowance OperatingLossCarryforwardsValuationAllowance	0	usd
CY2023Q3	us-gaap	Income Tax Receivable IncomeTaxReceivable	0	usd
	us-gaap	Interest Paid Net InterestPaidNet	12900000	usd
	us-gaap	Interest Paid Net InterestPaidNet	16119000	usd
	us-gaap	Income Taxes Paid IncomeTaxesPaid	145020000	usd
	us-gaap	Income Taxes Paid IncomeTaxesPaid	242994000	usd
	mth	Increase Decreasein Real Estate Acquired Through Notes Payable IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable	6567000	usd
	mth	Increase Decreasein Real Estate Acquired Through Notes Payable IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable	9861000	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	36266000	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	4011000	usd
	mth	Numberof Business Segments NumberofBusinessSegments	2	segment
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	10	operating_segment
CY2023Q3	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-907000	usd
CY2022Q3	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-907000	usd
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
CY2023Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	285734000	usd
CY2022Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	329491000	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	690561000	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	947069000	usd
CY2023Q3	us-gaap	Deposit Assets DepositAssets	93501000	usd
CY2023Q3	us-gaap	Inventory Real Estate InventoryRealEstate	4501358000	usd
CY2023Q3	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	15062000	usd
CY2023Q3	us-gaap	Other Assets OtherAssets	1571949000	usd
CY2023Q3	us-gaap	Assets Assets	6181870000	usd
CY2022Q4	us-gaap	Deposit Assets DepositAssets	76729000	usd
CY2022Q4	us-gaap	Inventory Real Estate InventoryRealEstate	4358263000	usd
CY2022Q4	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	11753000	usd
CY2022Q4	us-gaap	Other Assets OtherAssets	1325356000	usd
CY2022Q4	us-gaap	Assets Assets	5772101000	usd
CY2023Q3	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	39100000	usd
CY2023Q3	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false
CY2023Q3	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2023Q3	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2023Q3	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false

Files In Submission

Name	View Source	Status
0000833079-23-000147-index-headers.html	Edgar Link	pending
0000833079-23-000147-index.html	Edgar Link	pending
0000833079-23-000147.txt	Edgar Link	pending
0000833079-23-000147-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
mth-20230930.htm	Edgar Link	pending
mth-20230930.xsd	Edgar Link	pending
mth-20230930_g1.jpg	Edgar Link	pending
mth2023093010qex311.htm	Edgar Link	pending
mth2023093010qex312.htm	Edgar Link	pending
mth2023093010qex321.htm	Edgar Link	pending
R1.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
mth-20230930_cal.xml	Edgar Link	unprocessable
mth-20230930_def.xml	Edgar Link	unprocessable
mth-20230930_lab.xml	Edgar Link	unprocessable
mth-20230930_pre.xml	Edgar Link	unprocessable
mth-20230930_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$MTH
Meritage Homes CORP Stock $mth

2023 Q4 Form 10-Q Financial Statement

#000083307923000147 Filed on November 01, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MTH Meritage Homes CORP Stock $mth

2023 Q4 Form 10-Q Financial Statement

#000083307923000147 Filed on November 01, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MTH
Meritage Homes CORP Stock $mth