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

As of 30 June 2025, M/I Homes, Inc. has moved from a fair to attractive valuation grade, indicating a positive shift in its market perception. The company appears undervalued, supported by a P/E ratio of 6, an EV to EBITDA of 4.55, and a PEG ratio of 0.55, which are all significantly lower than its peers. For instance, Toll Brothers, Inc. has a P/E of 11.10 and an EV to EBITDA of 9.45, while Taylor Morrison Home Corp. shows a P/E of 10.67 and an EV to EBITDA of 8.98, highlighting M/I Homes' relative undervaluation.
Despite a recent decline in the stock price over the past week, M/I Homes has outperformed the S&P 500 on a year-to-date basis, returning 14.60% compared to the index's 12.22%. Moreover, the company's strong ROCE of 21.29% and ROE of 17.87% further reinforce its attractive valuation amidst a competitive landscape.