Meritage Homes's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Meritage Homes (MTH) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Meritage Homes vs Its Competitors
- TTM: Trailing 12-month revenue of 1,049M vs 121,918M combined for tracked competitors (0.9% combined share).
- Scale: Meritage Homes ranks #30 of 88 companies by market capitalization in the Construction Services industry, holding 0.8% of industry market cap.
- Peer differentiation: Revenue per employee of $0.56M compares with $2.39M for the peer group (0.2x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
Meritage Homes vs. its Competitors, Q2 2026
Net income growth, year on year
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Meritage Homes and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Meritage Homes Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Meritage Homes's competitor groups requires a Commercial License.
Meritage Homes's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Meritage Homes Corporation | - | - | - | Yes |
| Competitors combined (19) | ||||
| Similar-Size Competitors (10) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
MTH Stock Performance relative to its Competitors
MTH Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Sekisui House U s Inc | 282.9% | Outperformed |
| 2 | Forestar Group Inc | 282.9% | Outperformed |
| 3 | Tri Pointe Homes Inc | 282.9% | Outperformed |
| 4 | Beazer Homes Usa Inc | 282.9% | Outperformed |
| 5 | Toll Brothers Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Meritage Homes's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Meritage Homes's Comment on Competition and Industry Peers
experience within our geographic markets which allows us to develop and offer products that provide superior design and quality and are in line with the needs and desires of the targeted demographic;
streamlined construction processes that allow us to save on material, labor and time and pass those savings to our customers in the form of lower prices;
ENERGY STAR® standards in all of our communities (except for markets in which we had a recent company acquisition) and incremental energy-efficient features that create a variety of benefits to our customers and differentiate our product from competing new and existing home inventories;
ability to recognize and adapt to changing market conditions, from both a capital and human resource perspective;
ability to capitalize on opportunities to acquire land on favorable terms; and
reputation for outstanding service and quality products and our exceptional customer and warranty service.
Our product offerings and strategic locations are successfully competing with
both existing homes inventory and surrounding new-home communities as evidenced
by our relative orders volume and market share in most of our divisions. We
expect that the strengths noted above will continue to provide us with long-term
competitive advantages.
We have an extensive market research department that assists our operating divisions
in each of our markets to better compete with other homebuilders, and the inventory
of re-sale homes in surrounding neighborhoods. Our strategic operations team
conducts in-depth community-level reviews in each of our markets, including
a detailed analysis of existing inventory, pricing, buyer demographics and the
identification of each location’s key buyer metrics. This analysis and
resulting analytical tools assist in decision-making regarding product designs,
positioning, and pricing and underwriting standards for land purchases and land
development. Additionally, our market research department is focused on evaluating
and identifying new market opportunities. The analysis of entry into a new market
includes comprehensive research and surveys of buyer demographics and demands,
competitor composition and performance, the surrounding job market and employment
statistics, foreclosure activity and desirability of the market in general.
Publicly Traded Peers of Meritage Homes Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Meritage Homes Corporation | 4,298.52 | 1,048.72 |
| D r Horton Inc | 39,455.86 | 33,349.80 |
| Lennar Corp | 19,750.86 | 32,737.24 |
| Nvr Inc | 17,652.23 | 9,529.53 |
| Toll Brothers Inc | 12,892.69 | 10,759.04 |
| Taylor Morrison Home Corp | 7,066.05 | 7,612.57 |
| SUBTOTAL | 116,838.63 | 130,628.29 |
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Sources: Meritage Homes Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Meritage Homes Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Meritage Homes's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| D r Horton Inc | HomeBuildingOps 94.14 % |
| Lennar Corp | Homebuilding West 34.85 % |
| Nvr Inc | Home Building 97.54 % |
| Toll Brothers Inc | South 26.32 % |
| Taylor Morrison Home Corp | West Homebuilding 41.26 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Meritage Homes's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Meritage Homes Corporation | 4,299 | 563,827 | 177,025 |
| D r Horton Inc | 39,456 | 2,325,486 | 215,808 |
| Lennar Corp | 19,751 | 2,612,291 | 130,806 |
| Nvr Inc | 17,652 | 1,512,624 | 181,162 |
| Toll Brothers Inc | 12,893 | 2,195,722 | 244,591 |
| Taylor Morrison Home Corp | 7,066 | 2,537,524 | 225,987 |
| PEERS TOTAL | 112,540 | 2,388,476 | 170,882 |
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Meritage Homes's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Mi Homes Inc | Southern Homebuilding 54.39 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Meritage Homes's Position in Industry Market Structure
Market-capitalization share and concentration across all 78 companies in Meritage Homes's industry classification, broader than the peer set above. Market cap in millions of $.Meritage Homes ranks #30 of 78 companies by market capitalization in its industry, holding 0.84 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 731, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Quanta Services Inc | 99,632 | 19.39 % |
| 2 | Comfort Systems Usa inc | 59,072 | 11.50 % |
| 3 | D r Horton Inc | 39,869 | 7.76 % |
| 4 | Emcor Group Inc | 34,249 | 6.67 % |
| 5 | Pultegroup Inc | 1,234 | 5.2% |
| 6 | Lennar Corp | 1,234 | 5.2% |
| 7 | Nvr Inc | 1,234 | 5.2% |
| 8 | Mastec Inc | 1,234 | 5.2% |
| 9 | Jacobs Solutions Inc | 1,234 | 5.2% |
| 10 | Sterling Infrastructure Inc | 1,234 | 5.2% |
| 30 | Meritage Homes Corporation | 4,310 | 0.84 % |
Market cap and industry share for the rest of Meritage Homes's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Meritage Homes's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 25 | Champion Homes Inc | 4,827 | 20.21 % |
| 26 | Myr Group inc | 4,595 | 51.45 % |
| 27 | Tutor Perini Corporation | 4,500 | 30.83 % |
| 28 | Kbr Inc | 4,397 | -26.34 % |
| 29 | Cavco Industries Inc | 1,234 | 12.3% |
| 30 | Meritage Homes Corporation | 4,310 | -13.60 % |
| 31 | The Geo Group Inc | 1,234 | 12.3% |
| 32 | Legence Corp | 1,234 | 12.3% |
| 33 | Primoris Services Corporation | 1,234 | 12.3% |
| 34 | The St Joe Company | 1,234 | 12.3% |
| 35 | Mi Homes Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Meritage Homes's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Meritage Homes's Valuation vs Competitive Position
Valuation multiples vs the Construction Services industry average (91 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 14.8x | 28.2x | -13.4x |
| EV / EBITDA | 8.7x | 17.9x | -9.3x |
| P/B | 0.9x | 4.4x | -3.5x |
| Return on Equity | 6.38 % | industry aggregate | -5.30 % |
| Return on Invested Capital | - | 6.68 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Meritage Homes's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -12.35 % | -75.69 % | 43.75 % | 44.35 % | 25.89 % | -15.44 % | 5.22 % | -27.72 % |
| Operating Margin | 8.89 % | 41.87 % | 53.99 % | 66.63 % | 81.38 % | 73.85 % | 73.48 % | 63.47 % |
| Return on Invested Capital | 5.31 % | 5.83 % | 9.78 % | 14.37 % | 16.96 % | 10.73 % | 9.90 % | 5.95 % |
| P/E | 6.8x | 10.3x | 16.0x | 5.9x | 3.4x | 15.8x | 8.0x | 11.1x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Meritage Homes's BCG Growth-Share Matrix
Relative market share (vs Meritage Homes's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Meritage Homes falls in the Dog quadrant: relative market share of 0.04x vs its largest competitor, in an industry growing revenue 5.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Meritage Homes's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 731 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Meritage Homes's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Meritage Homes's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Meritage Homes's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Meritage Homes falls in the Low attractiveness / Low strength cell: Harvest / Divest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Meritage Homes's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Return on equity 5.3 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.04x).
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (83.30 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Meritage Homes's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Meritage Homes Corporation | 1.52 | 11.67 | 0.03 |
| D r Horton Inc | 0.64 | 6.12 | 0.19 |
| Lennar Corp | 1.30 | 8.87 | 0.22 |
| Nvr Inc | 2.18 | 5.97 | 0.19 |
| Toll Brothers Inc | 0.43 | 4.24 | 0.12 |
| Taylor Morrison Home Corp | 0.49 | 11.93 | 0.12 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Meritage Homes's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Meritage Homes Corporation | Q2 2026 | - | -38.3 % |
| D r Horton Inc | Q2 2026 | +0.0 % | -11.1 % |
| Lennar Corp | Q2 2026 | -5.2 % | -36.0 % |
| Nvr Inc | Q2 2026 | -10.5 % | -29.1 % |
| Toll Brothers Inc | Q2 2026 | -9.7 % | -24.2 % |
| Taylor Morrison Home Corp | Q1 2026 | -26.8 % | -53.0 % |
| PEERS TOTAL | +0.6 % | -32.6 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Meritage Homes's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Meritage Homes Corporation | Q2 2026 | - | -17.7 % |
| D r Horton Inc | Q2 2026 | +0.9 % | -8.7 % |
| Lennar Corp | Q2 2026 | - | +23.9 % |
| Nvr Inc | Q2 2026 | +83.2 % | -25.9 % |
| Toll Brothers Inc | Q2 2026 | -7.7 % | +20.6 % |
| Taylor Morrison Home Corp | Q1 2026 | -23.5 % | +17.0 % |
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Meritage Homes's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Meritage Homes Corporation | 4.32% | 4.70% | 6.38% |
| D r Horton Inc | 8.66% | 9.84% | 12.62% |
| Lennar Corp | 4.81% | 5.06% | 7.39% |
| Nvr Inc | 19.89% | 21.96% | 31.02% |
| Toll Brothers Inc | 8.23% | 10.36% | 14.27% |
| Taylor Morrison Home Corp | 7.01% | 7.84% | 10.93% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Meritage Homes's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Meritage Homes Corporation | 13.66 | 4.10 |
| D r Horton Inc | 13.42 | 1.18 |
| Lennar Corp | 12.92 | 0.60 |
| Nvr Inc | 16.38 | 1.85 |
| Toll Brothers Inc | 11.04 | 1.20 |
| Taylor Morrison Home Corp | 10.86 | 0.93 |
| PEERS AVERAGE | 12.17 | 0.89 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.