M (MHO) Cost of Revenue (2010 - 2026)
M (MHO) recorded Cost of Revenue of $827.76 million in Q2 2026, down 5.5% from $875.97 million a year earlier but up 15.3% from the prior quarter.
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Analysis
M (MHO) Cost of Revenue (2010 - 2026) Analysis & Trends
On a TTM basis, M's Cost of Revenue came in at $3.35 billion as of Jun 30, 2026, up 0.2% year-over-year; for FY2025, it was $3.4 billion, up 2.9% from FY2024.
- Annual Cost of Revenue has a five-year compound annual growth rate of 7.6% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $3.31 billion in FY2024 (+9.7%), $3.01 billion in FY2023 (-2.4%), $3.09 billion in FY2022 (+8.8%) and $2.84 billion in FY2021 (+20.1%).
- Quarterly Cost of Revenue has ranged from $647.7 million in Q1 2022 to $947.18 million in Q4 2025 over the past five years.
- On a year-over-year basis, Cost of Revenue rose in five of the last eight quarters, with growth averaging 4.8%.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 24.8% in Q4 2024, against a decline of 22.7% in Q4 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $718.12 million (Q1 2026), $947.18 million (Q4 2025) and $854.12 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 41.40 Bn | 32.29 Bn | 2.15 Bn | 7.08 Bn |
| 2 | Pultegroup | 22.30 Bn | 15.67 Bn | 1.07 Bn | 2.91 Bn |
| 3 | Lennar | 17.65 Bn | 8.17 Bn | 618.54 Mn | 7.43 Bn |
| 4 | Nvr | 15.93 Bn | 9.22 Bn | 485.14 Mn | 1.84 Bn |
| 5 | Toll Brothers | 12.89 Bn | 8.28 Bn | 625.22 Mn | 2.03 Bn |
| 6 | Champion Homes | 4.36 Bn | 1.84 Bn | - | - |
| 7 | Meritage Homes | 4.18 Bn | 1.10 Bn | 513.60 Mn | 2.29 Bn |
| 8 | Cavco Industries | 4.13 Bn | 2.89 Bn | - | - |
| 9 | M | 3.10 Bn | 290.98 Mn | - | - |
| 10 | Kb Home | 2.86 Bn | 2.07 Bn | -857.09 Mn | 2.15 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 827.76 Mn |
| Mar 31, 2026 | 718.12 Mn |
| Dec 31, 2025 | 947.18 Mn |
| Sep 30, 2025 | 854.12 Mn |
| Jun 30, 2025 | 875.97 Mn |
| Mar 31, 2025 | 723.31 Mn |
| Dec 31, 2024 | 908.45 Mn |
| Sep 30, 2024 | 833.47 Mn |
| Jun 30, 2024 | 800.50 Mn |
| Mar 31, 2024 | 763.36 Mn |
| Dec 31, 2023 | 728.20 Mn |
| Sep 30, 2023 | 764.64 Mn |
| Jun 30, 2023 | 755.83 Mn |
| Mar 31, 2023 | 765.90 Mn |
| Dec 31, 2022 | 942.47 Mn |
| Sep 30, 2022 | 741.01 Mn |
| Jun 30, 2022 | 756.37 Mn |
| Mar 31, 2022 | 647.70 Mn |
| Dec 31, 2021 | 808.15 Mn |
| Sep 30, 2021 | 682.57 Mn |
API Access
M Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MHO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "MHO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MHO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();