Is M/I Homes, Inc. overvalued or undervalued?

As of 23 April 2025, M/I Homes, Inc. has moved from a very attractive to an attractive valuation grade. The company is currently considered undervalued based on its financial metrics. Key ratios include a P/E ratio of 6, an EV to EBITDA of 4.55, and a PEG ratio of 0.55, indicating strong earnings potential relative to its price.
In comparison to peers, M/I Homes, Inc. has a lower P/E ratio than M.D.C. Holdings, Inc. at 16.34 and Frontdoor, Inc. at 16.10, both of which are considered fairly valued and very expensive, respectively. Additionally, its EV to EBITDA ratio of 4.55 is more favorable than that of Skyline Champion Corp. at 10.29. Despite a year-to-date return of -16.98%, the company's long-term performance over three and five years shows significant growth at 180.55% and 220.28%, respectively, which reinforces the undervaluation narrative.