$MTH
Meritage Homes CORP Stock $mth

$mth Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000083307924000079 Filed on April 26, 2024

Income Statement

Concept	2024 Q2	2024 Q1
Revenue	$1.702B	$1.475B
YoY Change	8.16%	14.76%
Cost Of Revenue	$1.363B	$1.195B
YoY Change	5.73%	10.51%
Gross Profit	$339.2M	$279.8M
YoY Change	19.2%	37.33%
Gross Profit Margin	19.93%	18.97%
Selling, General & Admin	$157.8M	$152.3M
YoY Change	202.74%	16.81%
% of Gross Profit	46.53%	54.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$6.774M	$6.038M
YoY Change	13.13%	15.94%
% of Gross Profit	2.0%	2.16%
Operating Expenses	$157.8M	$152.3M
YoY Change	301.88%	16.81%
Operating Profit	$181.4M	$127.5M
YoY Change	-26.06%	73.79%
Interest Expense	$0.00	$0.00
YoY Change	-100.0%
% of Operating Profit	0.0%	0.0%
Other Income/Expense, Net	$11.50M	$9.022M
YoY Change	-10.6%	2.01%
Pretax Income	$297.4M	$234.0M
YoY Change	24.15%	41.57%
Income Tax	$65.81M	$48.00M
% Of Pretax Income	22.13%	20.51%
Net Earnings	$231.6M	$186.0M
YoY Change	23.93%	41.67%
Net Earnings / Revenue	13.6%	12.61%
Basic Earnings Per Share	$6.38	$5.12
Diluted Earnings Per Share	$6.31	$5.06
COMMON SHARES
Basic Shares Outstanding	36.32M shares	36.17M shares
Diluted Shares Outstanding	36.72M shares	36.78M shares

Balance Sheet

Concept	2024 Q2	2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$992.9M	$905.3M
YoY Change	-14.64%	-5.42%
Cash & Equivalents	$992.9M	$905.3M
Short-Term Investments
Other Short-Term Assets	$210.8M	$107.4M
YoY Change	73.6%	-18.9%
Inventory	$5.175B	$4.915B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$6.637B	$6.171B
YoY Change	13.58%	9.13%
LONG-TERM ASSETS
Property, Plant & Equipment	$46.59M	$47.87M
YoY Change	-32.58%	14.79%
Goodwill	$32.96M	$32.96M
YoY Change	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments	$23.63M	$18.74M
YoY Change	89.78%	66.16%
Other Assets	$60.17M	$47.00M
YoY Change	33.6%	4.91%
Total Long-Term Assets	$287.1M	$318.8M
YoY Change	29.13%	46.89%
TOTAL ASSETS
Total Short-Term Assets	$6.637B	$6.171B
Total Long-Term Assets	$287.1M	$318.8M
Total Assets	$6.924B	$6.489B
YoY Change	14.15%	10.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$299.8M	$306.2M
YoY Change	8.57%	16.12%
Accrued Expenses	$389.0M	$345.5M
YoY Change	23.75%	21.15%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$728.1M	$767.2M
YoY Change	9.99%	17.45%
LONG-TERM LIABILITIES
Long-Term Debt	$1.313B	$1.002B
YoY Change	13.67%	-12.96%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$1.313B	$1.002B
YoY Change	13.67%	-12.96%
TOTAL LIABILITIES
Total Short-Term Liabilities	$728.1M	$767.2M
Total Long-Term Liabilities	$1.313B	$1.002B
Total Liabilities	$2.041B	$1.769B
YoY Change	12.33%	-1.95%
SHAREHOLDERS EQUITY
Retained Earnings	$4.684B	$4.479B
YoY Change	19.49%	19.68%
Common Stock	$198.9M	$241.2M
YoY Change	-39.49%	-25.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$4.883B	$4.721B
YoY Change
Total Liabilities & Shareholders Equity	$6.924B	$6.489B
YoY Change	14.15%	10.53%

Cashflow Statement

Concept	2024 Q2	2024 Q1
OPERATING ACTIVITIES
Net Income	$231.6M	$186.0M
YoY Change	23.93%	41.67%
Depreciation, Depletion And Amortization	$6.774M	$6.038M
YoY Change	13.13%	15.94%
Cash From Operating Activities	-$117.9M	$81.93M
YoY Change	-150.97%	-34.18%
INVESTING ACTIVITIES
Capital Expenditures	$6.900M	$6.258M
YoY Change	-43.6%	-29.68%
Acquisitions
YoY Change
Other Investing Activities	-$4.974M	-$1.507M
YoY Change	322.6%	-981.29%
Cash From Investing Activities	-$11.87M	-$7.765M
YoY Change	-11.47%	-11.03%
FINANCING ACTIVITIES
Cash Dividend Paid		$27.24M
YoY Change		174.39%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	217.4M	-$90.09M
YoY Change	-1916.88%	348.34%
NET CHANGE
Cash From Operating Activities	-117.9M	$81.93M
Cash From Investing Activities	-11.87M	-$7.765M
Cash From Financing Activities	217.4M	-$90.09M
Net Change In Cash	87.62M	-$15.93M
YoY Change	-57.47%	-116.65%
FREE CASH FLOW
Cash From Operating Activities	-$117.9M	$81.93M
Capital Expenditures	$6.900M	$6.258M
Free Cash Flow	-$124.8M	$75.67M
YoY Change	-156.96%	-34.52%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	36425037	shares
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	36425037	shares
CY2024Q1	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	101550000	usd
CY2023Q1	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	82846000	usd
CY2024Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	50732000	usd
CY2023Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	47519000	usd
CY2024Q1	us-gaap	Interest Expense InterestExpense	0	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	0	usd
CY2024Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	9022000	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	8844000	usd
CY2024Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	234015000	usd
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	165303000	usd
CY2024Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	47999000	usd
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	34002000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	186016000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	131301000	usd
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	5.12
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.58
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	5.06
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.54
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36311000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36664000	shares
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	36779000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	37121000	shares
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	186016000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	131301000	usd
CY2024Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	6038000	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	5208000	usd
CY2024Q1	us-gaap	Share Based Compensation ShareBasedCompensation	6114000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	6225000	usd
CY2024Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	972000	usd
CY2023Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	1346000	usd
CY2024Q1	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	985000	usd
CY2023Q1	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	1776000	usd
CY2024Q1	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	1001000	usd
CY2023Q1	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	928000	usd
CY2024Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	193431000	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-2999000	usd
CY2024Q1	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	11449000	usd
CY2023Q1	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	-10886000	usd
CY2024Q1	us-gaap	Increase Decrease In Accounts Receivable And Other Operating Assets IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets	-53769000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable And Other Operating Assets IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets	11749000	usd
CY2024Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	27668000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-31687000	usd
CY2024Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	6191000	usd
CY2023Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	9931000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	81930000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	124472000	usd
CY2024Q1	us-gaap	Payments To Acquire Interest In Joint Venture PaymentsToAcquireInterestInJointVenture	1586000	usd
CY2023Q1	us-gaap	Payments To Acquire Interest In Joint Venture PaymentsToAcquireInterestInJointVenture	0	usd
CY2024Q1	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	0	usd
CY2023Q1	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	43000	usd
CY2024Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	6258000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	8899000	usd
CY2024Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	79000	usd
CY2023Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	128000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-7765000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-8728000	usd
CY2024Q1	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	6922000	usd
CY2023Q1	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	168000	usd
CY2024Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	27239000	usd
CY2023Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	9927000	usd
CY2024Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	55933000	usd
CY2023Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	10000000	usd
CY2024Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-90094000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-20095000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-15929000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	95649000	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	921227000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	861561000	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	905298000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	957210000	usd
CY2024Q1	mth	Entity Operations In Number Of Regions EntityOperationsInNumberOfRegions	3	region
CY2024Q1	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	10	state
CY2024Q1	mth	Numberof Communitiesin Which Homesare Sold NumberofCommunitiesinWhichHomesareSold	275	community
CY2023Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	37360000	usd
CY2022Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	35575000	usd
CY2024Q1	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	4833000	usd
CY2024Q1	us-gaap	Deposit Assets DepositAssets	122800000	usd
CY2023Q4	us-gaap	Deposit Assets DepositAssets	111400000	usd
CY2024Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	49376000	usd
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	51275000	usd
CY2024Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	52104000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	54040000	usd
CY2023Q1	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	4406000	usd
CY2024Q1	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	5829000	usd
CY2023Q1	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	2918000	usd
CY2024Q1	mth	Accruals Related To Real Estate Development And Construction Activities AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities	150229000	usd
CY2023Q4	mth	Accruals Related To Real Estate Development And Construction Activities AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities	137489000	usd
CY2024Q1	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	66328000	usd
CY2023Q4	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	140734000	usd
CY2024Q1	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	18276000	usd
CY2023Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	6331000	usd
CY2024Q1	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	72678000	usd
CY2023Q4	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	25569000	usd
CY2024Q1	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	36364000	usd
CY2023Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	37360000	usd
CY2024Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	52104000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	54040000	usd
CY2024Q1	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	22237000	usd
CY2023Q4	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	23241000	usd
CY2024Q1	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	418216000	usd
CY2023Q4	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	424764000	usd
CY2024Q1	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
CY2023Q1	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
CY2024Q1	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	36364000	usd
CY2023Q1	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	37063000	usd
CY2023Q4	mth	Contract Asset Insurance Renewals ContractAssetInsuranceRenewals	0	usd
CY2024Q1	mth	Contract Asset Insurance Renewals ContractAssetInsuranceRenewals	0	usd
CY2024Q1	mth	Inventory Sold Homes Under Construction InventorySoldHomesUnderConstruction	858943000	usd
CY2023Q4	mth	Inventory Sold Homes Under Construction InventorySoldHomesUnderConstruction	704206000	usd
CY2024Q1	mth	Inventory Unsold Homes Completed And Under Construction InventoryUnsoldHomesCompletedAndUnderConstruction	1304633000	usd
CY2023Q4	mth	Inventory Unsold Homes Completed And Under Construction InventoryUnsoldHomesCompletedAndUnderConstruction	1260855000	usd
CY2024Q1	mth	Inventory Model Homes InventoryModelHomes	118958000	usd
CY2023Q4	mth	Inventory Model Homes InventoryModelHomes	118252000	usd
CY2024Q1	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2631978000	usd
CY2023Q4	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2637978000	usd
CY2024Q1	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	4914512000	usd
CY2023Q4	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	4721291000	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
CY2024Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.75
CY2023Q1	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.27
CY2023Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	54516000	usd
CY2022Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	60169000	usd
CY2024Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	12925000	usd
CY2023Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	15030000	usd
CY2024Q1	us-gaap	Interest Expense InterestExpense	0	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	0	usd
CY2024Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	13214000	usd
CY2023Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	12747000	usd
CY2024Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	54227000	usd
CY2023Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	62452000	usd
CY2024Q1	mth	Land Under Purchase Contracts And Options Recorded Number Of Lots LandUnderPurchaseContractsAndOptionsRecordedNumberOfLots	0	lot
CY2024Q1	mth	Land Under Purchase Contracts And Options Recorded LandUnderPurchaseContractsAndOptionsRecorded	0	usd
CY2024Q1	mth	Land Under Purchase Contracts And Options Recorded Cash Deposits LandUnderPurchaseContractsAndOptionsRecordedCashDeposits	0	usd
CY2024Q1	mth	Land Under Option Contracts Not Recorded Non Refundable Committed Number Of Lots LandUnderOptionContractsNotRecordedNonRefundableCommittedNumberOfLots	7587	lot
CY2024Q1	mth	Land Under Option Contracts Not Recorded Non Refundable Committed LandUnderOptionContractsNotRecordedNonRefundableCommitted	549462000	usd
CY2024Q1	mth	Land Under Option Contracts Not Recorded Non Refundable Committed Cash Deposits LandUnderOptionContractsNotRecordedNonRefundableCommittedCashDeposits	59028000	usd
CY2024Q1	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed Number Of Lots LandUnderPurchaseContractsNotRecordedNonRefundableCommittedNumberOfLots	10744	lot
CY2024Q1	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed LandUnderPurchaseContractsNotRecordedNonRefundableCommitted	334865000	usd
CY2024Q1	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed Cash Deposits LandUnderPurchaseContractsNotRecordedNonRefundableCommittedCashDeposits	46683000	usd
CY2024Q1	mth	Land Under Purchase Contracts Not Recorded Refundable Committed Number Of Lots LandUnderPurchaseContractsNotRecordedRefundableCommittedNumberOfLots	2322	lot
CY2024Q1	mth	Land Under Purchase Contracts Not Recorded Refundable Committed LandUnderPurchaseContractsNotRecordedRefundableCommitted	158049000	usd
CY2024Q1	mth	Land Under Purchase Contracts Not Recorded Refundable Committed Cash Deposits LandUnderPurchaseContractsNotRecordedRefundableCommittedCashDeposits	1715000	usd
CY2024Q1	mth	Land Under Purchase And Option Contracts Committed Number Of Lots LandUnderPurchaseAndOptionContractsCommittedNumberOfLots	20653	lot
CY2024Q1	mth	Land Under Purchase And Option Contracts Committed LandUnderPurchaseAndOptionContractsCommitted	1042376000	usd
CY2024Q1	mth	Land Under Purchase And Option Contracts Committed Cash Deposits LandUnderPurchaseAndOptionContractsCommittedCashDeposits	107426000	usd
CY2024Q1	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Number Of Lots LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedNumberOfLots	34722	lot
CY2024Q1	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommitted	1513780000	usd
CY2024Q1	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Cash Deposits LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedCashDeposits	15387000	usd
CY2024Q1	mth	Land Under Purchase And Option Contracts Number Of Lots LandUnderPurchaseAndOptionContractsNumberOfLots	55375	lot
CY2024Q1	mth	Land Under Purchase And Option Contracts LandUnderPurchaseAndOptionContracts	2556156000	usd
CY2024Q1	mth	Land Under Purchase And Option Contracts Cash Deposits LandUnderPurchaseAndOptionContractsCashDeposits	122813000	usd
CY2024Q1	mth	Land Under Option Contract Not Recorded Number Of Lots LandUnderOptionContractNotRecordedNumberOfLots	55375	lot
CY2024Q1	us-gaap	Land Under Purchase Options Not Recorded LandUnderPurchaseOptionsNotRecorded	2556156000	usd
CY2024Q1	mth	Land Under Option Contract Not Recorded Cash Deposits LandUnderOptionContractNotRecordedCashDeposits	122813000	usd
CY2024Q1	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	0	usd
CY2024Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	0	usd
CY2024Q1	mth	Percentage Of Wholly Owned Subsidiaries PercentageOfWhollyOwnedSubsidiaries	1
CY2024Q1	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	56218000	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	4720573000	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
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36311000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36664000	shares
CY2024Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	468000	shares
CY2023Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	457000	shares
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	36779000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	37121000	shares
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	186016000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	131301000	usd
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	5.12
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.58
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	5.06
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.54
CY2024Q1	us-gaap	Goodwill Goodwill	33000000	usd
CY2023Q4	us-gaap	Goodwill Goodwill	32962000	usd
CY2024Q1	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	0	usd
CY2024Q1	us-gaap	Goodwill Goodwill	32962000	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	4611900000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	186016000	usd
CY2024Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	6114000	usd
CY2024Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	0	usd
CY2024Q1	us-gaap	Dividends Dividends	27239000	usd
CY2024Q1	us-gaap	Dividends Dividends	27239000	usd
CY2024Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	6114000	usd
CY2023Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	6225000	usd
CY2024Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	42833000	usd
CY2023Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	27791000	usd
CY2024Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P2Y3M
CY2023	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y11M8D
CY2024Q1	mth	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding	641004	shares
CY2023Q4	mth	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding	703415	shares
CY2024Q1	mth	Share Based Compensation Arrangement Payout Percentage ShareBasedCompensationArrangementPayoutPercentage	1
CY2024Q1	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	38122000	usd
CY2023Q1	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	26440000	usd
CY2024Q1	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	9877000	usd
CY2023Q1	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	7562000	usd
CY2024Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	47999000	usd
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	34002000	usd
CY2024Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.205
CY2023Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.206
CY2024Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2023Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2024Q1	us-gaap	Operating Loss Carryforwards Valuation Allowance OperatingLossCarryforwardsValuationAllowance	0	usd
CY2024Q1	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	0	usd
CY2024Q1	us-gaap	Income Tax Receivable IncomeTaxReceivable	0	usd
CY2024Q1	us-gaap	Interest Paid Net InterestPaidNet	12754000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	14706000	usd
CY2024Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	78000	usd
CY2023Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	1000	usd
CY2024Q1	mth	Increase Decreasein Real Estate Acquired Through Notes Payable IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable	0	usd
CY2023Q1	mth	Increase Decreasein Real Estate Acquired Through Notes Payable IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable	0	usd
CY2024Q1	mth	Numberof Business Segments NumberofBusinessSegments	2	segment
CY2024Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	10	operating_segment
CY2024Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	234015000	usd
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	165303000	usd
CY2024Q1	us-gaap	Deposit Assets DepositAssets	122813000	usd
CY2024Q1	us-gaap	Inventory Real Estate InventoryRealEstate	4914512000	usd
CY2024Q1	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	18743000	usd
CY2024Q1	us-gaap	Other Assets OtherAssets	1433237000	usd
CY2024Q1	us-gaap	Assets Assets	6489305000	usd
CY2023Q4	us-gaap	Deposit Assets DepositAssets	111364000	usd
CY2023Q4	us-gaap	Inventory Real Estate InventoryRealEstate	4721291000	usd
CY2023Q4	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	17170000	usd
CY2023Q4	us-gaap	Other Assets OtherAssets	1503309000	usd
CY2023Q4	us-gaap	Assets Assets	6353134000	usd
CY2024Q1	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	36400000	usd
CY2024Q1	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2024Q1	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
CY2024Q1	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false
CY2024Q1	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false

Files In Submission

Name	View Source	Status
0000833079-24-000079-index-headers.html	Edgar Link	pending
0000833079-24-000079-index.html	Edgar Link	pending
0000833079-24-000079.txt	Edgar Link	pending
0000833079-24-000079-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
mth-20240331.htm	Edgar Link	pending
mth-20240331.xsd	Edgar Link	pending
mth-20240331_g1.jpg	Edgar Link	pending
mth2024033110qex311.htm	Edgar Link	pending
mth2024033110qex312.htm	Edgar Link	pending
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mth-20240331_lab.xml	Edgar Link	unprocessable
mth-20240331_pre.xml	Edgar Link	unprocessable
mth-20240331_def.xml	Edgar Link	unprocessable
mth-20240331_cal.xml	Edgar Link	unprocessable
mth-20240331_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable

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$MTH
Meritage Homes CORP Stock $mth

2024 Q2 Form 10-Q Financial Statement

#000083307924000079 Filed on April 26, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MTH Meritage Homes CORP Stock $mth

2024 Q2 Form 10-Q Financial Statement

#000083307924000079 Filed on April 26, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MTH
Meritage Homes CORP Stock $mth