$MTH
Meritage Homes CORP Stock $mth

$mth Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-Q Financial Statement

#000083307924000092 Filed on July 26, 2024

Income Statement

Concept	2024 Q3	2024 Q2
Revenue	$1.597B	$1.702B
YoY Change	-1.4%	8.16%
Cost Of Revenue	$1.297B	$1.363B
YoY Change	0.9%	5.73%
Gross Profit	$299.7M	$339.2M
YoY Change	-10.24%	19.2%
Gross Profit Margin	18.77%	19.93%
Selling, General & Admin	$157.1M	$157.8M
YoY Change	-3.15%	202.74%
% of Gross Profit	52.42%	46.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$6.546M	$6.774M
YoY Change	2.28%	13.13%
% of Gross Profit	2.18%	2.0%
Operating Expenses	$157.1M	$157.8M
YoY Change	-3.15%	301.88%
Operating Profit	$142.6M	$181.4M
YoY Change	-16.93%	-26.06%
Interest Expense	$0.00	$0.00
YoY Change		-100.0%
% of Operating Profit	0.0%	0.0%
Other Income/Expense, Net	$10.68M	$11.50M
YoY Change	-19.87%	-10.6%
Pretax Income	$249.9M	$297.4M
YoY Change	-12.53%	24.15%
Income Tax	$53.97M	$65.81M
% Of Pretax Income	21.59%	22.13%
Net Earnings	$196.0M	$231.6M
YoY Change	-11.63%	23.93%
Net Earnings / Revenue	12.27%	13.6%
Basic Earnings Per Share	$5.41	$6.38
Diluted Earnings Per Share	$5.34	$6.31
COMMON SHARES
Basic Shares Outstanding	36.33M shares	36.32M shares
Diluted Shares Outstanding	36.67M shares	36.72M shares

Balance Sheet

Concept	2024 Q3	2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$831.6M	$992.9M
YoY Change	-20.71%	-14.64%
Cash & Equivalents	$831.6M	$992.9M
Short-Term Investments
Other Short-Term Assets	$203.8M	$210.8M
YoY Change	77.21%	73.6%
Inventory	$5.457B	$5.175B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$6.779B	$6.637B
YoY Change	15.02%	13.58%
LONG-TERM ASSETS
Property, Plant & Equipment	$47.23M	$46.59M
YoY Change	-7.07%	-32.58%
Goodwill	$32.96M	$32.96M
YoY Change	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments	$18.22M	$23.63M
YoY Change	20.64%	89.78%
Other Assets	$51.15M	$60.17M
YoY Change	11.43%	33.6%
Total Long-Term Assets	$324.1M	$287.1M
YoY Change	12.61%	29.13%
TOTAL ASSETS
Total Short-Term Assets	$6.779B	$6.637B
Total Long-Term Assets	$324.1M	$287.1M
Total Assets	$7.103B	$6.924B
YoY Change	14.91%	14.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$287.4M	$299.8M
YoY Change	-2.31%	8.57%
Accrued Expenses	$439.9M	$389.0M
YoY Change	14.43%	23.75%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$759.4M	$728.1M
YoY Change	0.53%	9.99%
LONG-TERM LIABILITIES
Long-Term Debt	$1.314B	$1.313B
YoY Change	30.72%	13.67%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$1.314B	$1.313B
YoY Change	30.72%	13.67%
TOTAL LIABILITIES
Total Short-Term Liabilities	$759.4M	$728.1M
Total Long-Term Liabilities	$1.314B	$1.313B
Total Liabilities	$2.074B	$2.041B
YoY Change	17.77%	12.33%
SHAREHOLDERS EQUITY
Retained Earnings	$4.852B	$4.684B
YoY Change	17.45%	19.49%
Common Stock	$177.3M	$198.9M
YoY Change	-38.75%	-39.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$5.030B	$4.883B
YoY Change
Total Liabilities & Shareholders Equity	$7.103B	$6.924B
YoY Change	14.91%	14.15%

Cashflow Statement

Concept	2024 Q3	2024 Q2
OPERATING ACTIVITIES
Net Income	$196.0M	$231.6M
YoY Change	-11.63%	23.93%
Depreciation, Depletion And Amortization	$6.546M	$6.774M
YoY Change	2.28%	13.13%
Cash From Operating Activities	-$92.00M	-$117.9M
YoY Change	-188.29%	-150.97%
INVESTING ACTIVITIES
Capital Expenditures	$8.016M	$6.900M
YoY Change	-20.63%	-43.6%
Acquisitions
YoY Change
Other Investing Activities	-$3.782M	-$4.974M
YoY Change	51.28%	322.6%
Cash From Investing Activities	-$11.80M	-$11.87M
YoY Change	-6.37%	-11.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-57.57M	217.4M
YoY Change	-72.07%	-1916.88%
NET CHANGE
Cash From Operating Activities	-92.00M	-117.9M
Cash From Investing Activities	-11.80M	-11.87M
Cash From Financing Activities	-57.57M	217.4M
Net Change In Cash	-161.4M	87.62M
YoY Change	40.93%	-57.47%
FREE CASH FLOW
Cash From Operating Activities	-$92.00M	-$117.9M
Capital Expenditures	$8.016M	$6.900M
Free Cash Flow	-$100.0M	-$124.8M
YoY Change	-206.28%	-156.96%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	37360000	usd
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2024Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2024Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	14327000	usd
CY2023Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	15144000	usd
CY2024Q2	us-gaap	Interest Expense InterestExpense	0	usd
CY2023Q2	us-gaap	Interest Expense InterestExpense	0	usd
CY2023Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	16518000	usd
CY2024Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	54327000	usd
CY2023Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	61078000	usd
CY2024Q2	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	0	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	231555000	usd
CY2024Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	4718000	usd
CY2024Q2	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	0	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	4882534000	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
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	4248295000	usd
CY2024Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
	us-gaap	Debt Instrument Convertible Conversion Ratio1 DebtInstrumentConvertibleConversionRatio1	0.0043048
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	231555000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2627000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2882000	usd
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	2778000	usd
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	3418000	usd
	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	4697000	usd
	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	2148000	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	450551000	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-14950000	usd
	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	45576000	usd
	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	-5491000	usd
	us-gaap	Increase Decrease In Accounts Receivable And Other Operating Assets IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets	-24237000	usd
	us-gaap	Increase Decrease In Accounts Receivable And Other Operating Assets IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets	-8962000	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-12965000	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-27754000	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	2775000	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	11818000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-36017000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	355885000	usd
	us-gaap	Payments To Acquire Interest In Joint Venture PaymentsToAcquireInterestInJointVenture	6611000	usd
	us-gaap	Payments To Acquire Interest In Joint Venture PaymentsToAcquireInterestInJointVenture	1277000	usd
	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	0	usd
	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	43000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	13158000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	21134000	usd
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	130000	usd
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	228000	usd
	us-gaap	Proceeds From Sale And Maturity Of Held To Maturity Securities ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities	750000	usd
	us-gaap	Proceeds From Sale And Maturity Of Held To Maturity Securities ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities	750000	usd
	us-gaap	Payments To Acquire Held To Maturity Securities PaymentsToAcquireHeldToMaturitySecurities	750000	usd
	us-gaap	Payments To Acquire Held To Maturity Securities PaymentsToAcquireHeldToMaturitySecurities	750000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-19639000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-22140000	usd
	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	7445000	usd
	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	2209000	usd
	us-gaap	Repayments Of Senior Debt RepaymentsOfSeniorDebt	250695000	usd
	us-gaap	Repayments Of Senior Debt RepaymentsOfSeniorDebt	0	usd
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	575000000	usd
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	0	usd
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	17303000	usd
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	usd
	mth	Cash Paid For Capped Call CashPaidForCappedCall	61790000	usd
	mth	Cash Paid For Capped Call CashPaidForCappedCall	0	usd
	us-gaap	Payments Of Dividends PaymentsOfDividends	54484000	usd
	us-gaap	Payments Of Dividends PaymentsOfDividends	19854000	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	55933000	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	10000000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	127350000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-32063000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	71694000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	301682000	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
CY2024Q2	mth	Entity Operations In Number Of Regions EntityOperationsInNumberOfRegions	3	region
CY2024Q2	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	10	state
CY2024Q2	mth	Numberof Communitiesin Which Homesare Sold NumberofCommunitiesinWhichHomesareSold	287	community
CY2024Q2	us-gaap	Deposit Assets DepositAssets	156700000	usd
CY2023Q4	us-gaap	Deposit Assets DepositAssets	111400000	usd
CY2024Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	52460000	usd
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	51275000	usd
CY2024Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	55059000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	54040000	usd
CY2024Q2	mth	Accruals Related To Real Estate Development And Construction Activities AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities	169482000	usd
CY2023Q4	mth	Accruals Related To Real Estate Development And Construction Activities AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities	137489000	usd
CY2024Q2	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	84121000	usd
CY2023Q4	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	140734000	usd
CY2024Q2	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	6546000	usd
CY2023Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	6331000	usd
CY2024Q2	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	20103000	usd
CY2023Q4	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	25569000	usd
CY2024Q2	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	34769000	usd
CY2024Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	55059000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	54040000	usd
CY2024Q2	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	18895000	usd
CY2023Q4	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	23241000	usd
CY2024Q2	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	388975000	usd
CY2023Q4	us-gaap	Accrued Liabilities Current And Noncurrent AccruedLiabilitiesCurrentAndNoncurrent	424764000	usd
CY2024Q1	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	36364000	usd
CY2023Q1	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	37063000	usd
CY2024Q2	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	5809000	usd
CY2023Q2	us-gaap	Standard Product Warranty Accrual Warranties Issued StandardProductWarrantyAccrualWarrantiesIssued	5982000	usd
CY2024Q2	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	7404000	usd
CY2023Q2	us-gaap	Standard Product Warranty Accrual Payments StandardProductWarrantyAccrualPayments	6830000	usd
CY2024Q2	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
CY2023Q2	us-gaap	Standard Product Warranty Accrual Preexisting Increase Decrease StandardProductWarrantyAccrualPreexistingIncreaseDecrease	0	usd
CY2024Q2	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	34769000	usd
CY2023Q2	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	36215000	usd
CY2024Q2	mth	Contract Asset Insurance Renewals ContractAssetInsuranceRenewals	0	usd
CY2023Q4	mth	Contract Asset Insurance Renewals ContractAssetInsuranceRenewals	0	usd
CY2024Q2	mth	Inventory Sold Homes Under Construction InventorySoldHomesUnderConstruction	789961000	usd
CY2023Q4	mth	Inventory Sold Homes Under Construction InventorySoldHomesUnderConstruction	704206000	usd
CY2024Q2	mth	Inventory Unsold Homes Completed And Under Construction InventoryUnsoldHomesCompletedAndUnderConstruction	1487674000	usd
CY2023Q4	mth	Inventory Unsold Homes Completed And Under Construction InventoryUnsoldHomesCompletedAndUnderConstruction	1260855000	usd
CY2024Q2	mth	Inventory Model Homes InventoryModelHomes	114185000	usd
CY2023Q4	mth	Inventory Model Homes InventoryModelHomes	118252000	usd
CY2024Q2	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2783264000	usd
CY2023Q4	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2637978000	usd
CY2024Q2	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	5175084000	usd
CY2023Q4	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	4721291000	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
CY2024Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	14227000	usd
CY2024Q2	mth	Land Under Purchase Contracts And Options Recorded Number Of Lots LandUnderPurchaseContractsAndOptionsRecordedNumberOfLots	0	lot
CY2024Q2	mth	Land Under Purchase Contracts And Options Recorded LandUnderPurchaseContractsAndOptionsRecorded	0	usd
CY2024Q2	mth	Land Under Purchase Contracts And Options Recorded Cash Deposits LandUnderPurchaseContractsAndOptionsRecordedCashDeposits	0	usd
CY2024Q2	mth	Land Under Option Contracts Not Recorded Non Refundable Committed Number Of Lots LandUnderOptionContractsNotRecordedNonRefundableCommittedNumberOfLots	7555	lot
CY2024Q2	mth	Land Under Option Contracts Not Recorded Non Refundable Committed LandUnderOptionContractsNotRecordedNonRefundableCommitted	517409000	usd
CY2024Q2	mth	Land Under Option Contracts Not Recorded Non Refundable Committed Cash Deposits LandUnderOptionContractsNotRecordedNonRefundableCommittedCashDeposits	72992000	usd
CY2024Q2	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed Number Of Lots LandUnderPurchaseContractsNotRecordedNonRefundableCommittedNumberOfLots	15491	lot
CY2024Q2	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed LandUnderPurchaseContractsNotRecordedNonRefundableCommitted	430972000	usd
CY2024Q2	mth	Land Under Purchase Contracts Not Recorded Non Refundable Committed Cash Deposits LandUnderPurchaseContractsNotRecordedNonRefundableCommittedCashDeposits	62535000	usd
CY2024Q2	mth	Land Under Purchase Contracts Not Recorded Refundable Committed Number Of Lots LandUnderPurchaseContractsNotRecordedRefundableCommittedNumberOfLots	1078	lot
CY2024Q2	mth	Land Under Purchase Contracts Not Recorded Refundable Committed LandUnderPurchaseContractsNotRecordedRefundableCommitted	42934000	usd
CY2024Q2	mth	Land Under Purchase Contracts Not Recorded Refundable Committed Cash Deposits LandUnderPurchaseContractsNotRecordedRefundableCommittedCashDeposits	3365000	usd
CY2024Q2	mth	Land Under Purchase And Option Contracts Committed Number Of Lots LandUnderPurchaseAndOptionContractsCommittedNumberOfLots	24124	lot
CY2024Q2	mth	Land Under Purchase And Option Contracts Committed LandUnderPurchaseAndOptionContractsCommitted	991315000	usd
CY2024Q2	mth	Land Under Purchase And Option Contracts Committed Cash Deposits LandUnderPurchaseAndOptionContractsCommittedCashDeposits	138892000	usd
CY2024Q2	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Number Of Lots LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedNumberOfLots	41752	lot
CY2024Q2	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommitted	1875539000	usd
CY2024Q2	mth	Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Cash Deposits LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedCashDeposits	17806000	usd
CY2024Q2	mth	Land Under Purchase And Option Contracts Number Of Lots LandUnderPurchaseAndOptionContractsNumberOfLots	65876	lot
CY2024Q2	mth	Land Under Purchase And Option Contracts LandUnderPurchaseAndOptionContracts	2866854000	usd
CY2024Q2	mth	Land Under Purchase And Option Contracts Cash Deposits LandUnderPurchaseAndOptionContractsCashDeposits	156698000	usd
CY2024Q2	mth	Land Under Option Contract Not Recorded Number Of Lots LandUnderOptionContractNotRecordedNumberOfLots	65876	lot
CY2024Q2	us-gaap	Land Under Purchase Options Not Recorded LandUnderPurchaseOptionsNotRecorded	2866854000	usd
CY2024Q2	mth	Land Under Option Contract Not Recorded Cash Deposits LandUnderOptionContractNotRecordedCashDeposits	156698000	usd
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	0	usd
CY2024Q2	us-gaap	Convertible Debt ConvertibleDebt	575000000	usd
CY2023Q4	us-gaap	Convertible Debt ConvertibleDebt	0	usd
CY2024Q2	us-gaap	Convertible Debt ConvertibleDebt	575000000.0	usd
CY2024Q2	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-600000	usd
CY2024Q2	us-gaap	Debt Instrument Convertible Stock Price Trigger DebtInstrumentConvertibleStockPriceTrigger	232.30
CY2024Q2	us-gaap	Debt Instrument Convertible Threshold Percentage Of Stock Price Trigger DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger	1.30
	mth	Cash Paid For Capped Call CashPaidForCappedCall	61800000	usd
CY2024Q2	us-gaap	Debt Instrument Convertible Stock Price Trigger DebtInstrumentConvertibleStockPriceTrigger	232.30
CY2024Q2	us-gaap	Debt Instrument Convertible Conversion Price1 DebtInstrumentConvertibleConversionPrice1	350.64
CY2024Q2	us-gaap	Debt Instrument Convertible Conversion Price1 DebtInstrumentConvertibleConversionPrice1	350.64
CY2024Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36322000	shares
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36765000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36317000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	36715000	shares
CY2024Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	396000	shares
CY2023Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	426000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	421000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	434000	shares
CY2024Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	36718000	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	37191000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	36738000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	37149000	shares
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	231555000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	186836000	usd
	us-gaap	Net Income Loss NetIncomeLoss	417571000	usd
	us-gaap	Net Income Loss NetIncomeLoss	318137000	usd
CY2024Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	6.38
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	5.08
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	11.50
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	8.67
CY2024Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	6.31
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	5.02
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	11.37
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	8.56
CY2024Q2	us-gaap	Goodwill Goodwill	33000000.0	usd
CY2023Q4	us-gaap	Goodwill Goodwill	32962000	usd
	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	0	usd
CY2024Q2	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	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	56218000	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	4720573000	usd
CY2024Q2	us-gaap	Dividends Dividends	27245000	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
CY2024Q2	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.75
CY2023Q2	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.27
	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	1.50
	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.54
CY2024Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4718000	usd
CY2023Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4176000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	10832000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	10401000	usd
CY2024Q2	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	38819000	usd
CY2023Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	27791000	usd
	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P2Y1M9D
CY2024Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y11M8D
CY2024Q2	mth	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding	627937	shares
CY2023Q4	mth	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding	703415	shares
CY2024Q2	mth	Share Based Compensation Arrangement Payout Percentage ShareBasedCompensationArrangementPayoutPercentage	1
CY2024Q2	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	52340000	usd
CY2023Q2	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	41831000	usd
	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	90462000	usd
	us-gaap	Federal Income Tax Expense Benefit Continuing Operations FederalIncomeTaxExpenseBenefitContinuingOperations	68271000	usd
CY2024Q2	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	13466000	usd
CY2023Q2	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	10857000	usd
	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	23343000	usd
	us-gaap	State And Local Income Tax Expense Benefit Continuing Operations StateAndLocalIncomeTaxExpenseBenefitContinuingOperations	18419000	usd
CY2024Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	65806000	usd
CY2023Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	52688000	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	113805000	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	86690000	usd
CY2024Q2	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.221	rate
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.214	rate
CY2023Q2	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.220	rate
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.214	rate
CY2024Q2	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2023Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2024Q2	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	0	usd
CY2024Q2	us-gaap	Operating Loss Carryforwards Valuation Allowance OperatingLossCarryforwardsValuationAllowance	0	usd
CY2024Q2	us-gaap	Income Tax Receivable IncomeTaxReceivable	0	usd
	us-gaap	Interest Paid Net InterestPaidNet	2341000	usd
	us-gaap	Interest Paid Net InterestPaidNet	934000	usd
	us-gaap	Income Taxes Paid IncomeTaxesPaid	114054000	usd
	us-gaap	Income Taxes Paid IncomeTaxesPaid	86587000	usd
	mth	Increase Decreasein Real Estate Acquired Through Notes Payable IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable	3630000	usd
	mth	Increase Decreasein Real Estate Acquired Through Notes Payable IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable	6356000	usd
	mth	Numberof Business Segments NumberofBusinessSegments	2	segment
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	10	operating_segment
CY2024Q2	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-631000	usd
CY2023Q2	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-631000	usd
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	usd
CY2024Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	297361000	usd
CY2023Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	239524000	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	531376000	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	404827000	usd
CY2024Q2	us-gaap	Deposit Assets DepositAssets	156698000	usd
CY2024Q2	us-gaap	Inventory Real Estate InventoryRealEstate	5175084000	usd
CY2024Q2	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	23630000	usd
CY2024Q2	us-gaap	Other Assets OtherAssets	1568568000	usd
CY2024Q2	us-gaap	Assets Assets	6923980000	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
CY2024Q2	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	34800000	usd
CY2024Q2	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
CY2024Q2	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2024Q2	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2024Q2	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false

Files In Submission

Name	View Source	Status
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0000833079-24-000092-index.html	Edgar Link	pending
0000833079-24-000092.txt	Edgar Link	pending
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FilingSummary.xml	Edgar Link	unprocessable

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$MTH
Meritage Homes CORP Stock $mth

2024 Q3 Form 10-Q Financial Statement

#000083307924000092 Filed on July 26, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MTH Meritage Homes CORP Stock $mth

2024 Q3 Form 10-Q Financial Statement

#000083307924000092 Filed on July 26, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MTH
Meritage Homes CORP Stock $mth