Meritage Homes Corporation (MTH) Financial Statements (2024 and earlier)

Company Profile

Business Address 18655 NORTH CLARET DRIVE
SCOTTSDALE, AZ 85255
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 1531 - Operative Builders (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments861,561618,335745,621319,466311,466170,746
Cash and cash equivalents861,561618,335745,621319,466311,466170,746
Total current assets:861,561618,335745,621319,466311,466170,746
Noncurrent Assets
Operating lease, right-of-use asset19,12921,03821,62426,332
Inventory, real estate4,358,2633,734,4082,778,0392,744,3612,742,6212,731,380
Property, plant and equipment38,63537,34038,93350,60654,59633,631
Long-term investments and receivables11,7535,7644,3504,44317,48017,068
Long-term investments11,7535,7644,3504,44317,48017,068
Intangible assets, net (including goodwill)32,96232,96232,96232,96232,96232,962
Goodwill32,96232,96232,96232,96232,96232,962
Deferred income tax assets45,45240,67236,040 
Total noncurrent assets:4,506,1943,872,1842,911,9482,858,7042,847,6592,815,041
Other undisclosed assets404,346317,014206,829220,079206,354265,471
TOTAL ASSETS:5,772,1014,807,5333,864,3983,398,2493,365,4793,251,258
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt      
Deferred income tax liabilities    
Total noncurrent liabilities:      
Other undisclosed liabilities1,822,4901,763,1441,516,5301,424,2591,644,7241,674,433
Total liabilities:1,822,4901,763,1441,516,5301,424,2591,644,7241,674,433
Equity
Equity, attributable to parent3,949,6113,044,3892,347,8681,973,9901,720,7551,576,825
Common stock366373375382381403
Additional paid in capital327,878414,841455,762505,352501,781584,578
Retained earnings3,621,3672,629,1751,891,7311,468,2561,218,593991,844
Total equity:3,949,6113,044,3892,347,8681,973,9901,720,7551,576,825
TOTAL LIABILITIES AND EQUITY:5,772,1014,807,5333,864,3983,398,2493,365,4793,251,258

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues     6003,226,772
Operating leases, income statement, lease revenue600
Revenue, net3,226,772
Cost of revenue
(Cost of Goods and Services Sold)
      (2,660,273)
Gross profit:     600566,499
Operating expenses(516,250)(466,852)(446,921)(392,821)(380,375)(345,688)
Operating income (loss):(516,250)(466,852)(446,921)(392,821)(379,775)220,811
Nonoperating income
(Other Nonoperating income)
2,7144,8646,6629,57710,6166,405
Interest and debt expense(41)(18,506)(2,177)(14,005)(785)(3,853)
Income (loss) from continuing operations before equity method investments, income taxes:(513,577)(480,494)(442,436)(397,249)(369,944)223,363
Income from equity method investments   4,49611,94516,333 
Other undisclosed income from continuing operations before income taxes1,802,8951,435,328971,506688,249636,86524,156
Income from continuing operations before income taxes:1,289,318954,834533,566302,945283,254247,519
Income tax expense(297,126)(217,390)(110,091)(53,282)(55,922)(104,264)
Income from continuing operations:992,192737,444423,475249,663227,332143,255
Income before gain (loss) on sale of properties:737,444423,475249,663227,332143,255
Net income available to common stockholders, basic:992,192737,444423,475249,663227,332143,255
Interest on convertible debt      941
Net income available to common stockholders, diluted:992,192737,444423,475249,663227,332144,196

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:992,192737,444423,475249,663227,332143,255
Comprehensive income, net of tax, attributable to parent:992,192737,444423,475249,663227,332143,255

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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