Meritage Homes Corporation Company Overview and Data

Meritage Homes Corporation is a leading American homebuilder, founded in 1985 by Steve Hilton.

The company is headquartered in Scottsdale, Arizona, and has a significant presence in 10 states across the US.

Meritage Homes is known for its commitment to sustainability and energy efficiency, offering a range of eco-friendly home options.

The company has built over 100,000 homes since its inception, with a strong focus on customer satisfaction and community development.

Meritage Homes Corporation's financial performance is impressive, with a significant increase in cash and cash equivalents to $930.5 million as of June 30, 2025.

This is a notable improvement from the $651.6 million reported on December 31, 2024. The company's cash reserves are now more substantial, providing a solid foundation for future investments.

Meritage Homes owns or controls approximately 81,912 lots as of June 30, 2025, up from 70,822 lots a year ago. This expansion of their land holdings positions the company for long-term growth.

The company's total debt-to-capital ratio was 25.8% as of June 30, 2025, compared to 20.6% in the previous year. This slight increase in debt is still relatively manageable.

Meritage Homes paid cash dividends of $61 million to its shareholders during the first six months of 2025. This demonstrates the company's commitment to rewarding its investors.

The company repurchased 1,279,440 shares for $90 million during the same period. This share buyback program helps to reduce the number of outstanding shares and increase the value of each share for existing shareholders.

As of June 30, 2025, $219 million remained under the authorized share repurchase program, indicating that Meritage Homes is committed to continuing this program in the future.

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Meritage Homes Corp is headquartered in Scottsdale, Arizona, the US.

The company operates across various regions in the US, including the West, Central, and East regions. These regions cover states such as Arizona, California, Texas, and Florida.

Meritage Homes designs and builds single-family attached and detached homes, focusing on entry-level and first move-up homes.

The company offers a range of financial services, including title and escrow, mortgage, and insurance services through its subsidiaries, Carefree Title Agency, Inc. and Meritage Homes Insurance Agency, Inc.

Meritage Homes Corporation has received numerous awards and recognitions for its outstanding performance and commitment to excellence.

They were listed as one of Forbes' best mid-sized companies in 2021, ranking #39 on the list.

For several years, they have been a Top 10 home builder according to Builder's Top 100 Home Builder rankings.

In 2023, they were ranked as the 5th largest builder.

Meritage Homes has been recognized as a Partner of the Year 11 times, and they take pride in building homes that help homeowners live more sustainably and comfortably through energy-efficient features.

They were proud to be recognized by the EPA as a winner of the 2023 Indoor airPLUS Leader Award, which recognizes market leading organizations who promote safer and healthier indoor environments.

They're also honored to be the recipient of 14 Avid Awards in 2024, which recognizes homebuilders with the highest homebuying experience survey scores based on real customer reviews.

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Meritage Homes Corporation has a strong financial position, with cash and cash equivalents totaling $930.5 million as of June 30, 2025.

This is a significant increase from the $651.6 million reported on December 31, 2024, showing a substantial growth in the company's liquidity.

The company owns or controls approximately 81,912 lots as of June 30, 2025, which is a notable increase from the 70,822 lots owned or controlled a year ago.

Meritage Homes' debt-to-capital ratio is 25.8%, which is higher than the 20.6% reported in the previous year-ago period.

The net debt to capital ratio is 14.6%, down from 11.7% as of December 31, 2024, indicating a slight improvement in the company's debt management.

In the first six months of 2025, Meritage Homes used $28.9 million in net cash from operating activities, a decrease from the $36 million used in the same period last year.

The company paid out $61 million in cash dividends to its shareholders during this period, demonstrating its commitment to returning value to its investors.

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In the past month, investors have witnessed a downward trend in fresh estimates. This trend is a significant shift from previous periods.

The consensus estimate has shifted -19.58% due to these changes, indicating a notable decrease in investor optimism.

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Meritage Homes Corporation's quarterly release shows a mixed bag of results. Total closing revenues were $1.62 billion, a 4% decline from the prior-year quarter's level.

The Homebuilding segment saw a 5% decline in home closing revenues due to lower average selling prices. This was primarily impacted by higher utilization of financing incentives.

Meritage Homes reported 4,170 units of homes closed, a 1% increase from the year-ago quarter. The average absorption pace was 4.3 homes per month in the quarter.

Home closing gross margin contracted 480 basis points to 21.1%, mainly due to increasing lot costs and walk-away fees from cancelled land deals. Improvements in direct cost savings helped to somewhat offset these pressures.

The Financial Services segment's revenues rose 13% from the prior-year quarter's level to $9.43 million.

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