M (MHO) Gross Margin (2010 - 2026)
M (MHO) recorded Gross Margin of 22.15% in Q2 2026, down 2.50 percentage points from 24.65% a year earlier but up 0.14 percentage points from the prior quarter.
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Analysis
M (MHO) Gross Margin (2010 - 2026) Analysis & Trends
On a TTM basis, M's Gross Margin came in at 21.48% as of Jun 30, 2026, down 4.05 percentage points year-over-year; for FY2025, it was 23.03%, down 3.59 percentage points from FY2024.
- Annual Gross Margin has a five-year change of +0.54 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 26.61% in FY2024 (+1.35 pp), 25.26% in FY2023 (unchanged), 25.27% in FY2022 (+1.00 pp) and 24.26% in FY2021 (+1.78 pp).
- Quarterly Gross Margin has ranged from 17.44% in Q4 2025 to 27.87% in Q2 2024 over the past five years.
- On a year-over-year basis, Gross Margin has declined for seven consecutive quarters, with an average year-over-year change of -2.61 percentage points over the last eight quarters.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 3.62 percentage points in Q1 2024, against a drop of 7.18 percentage points in Q4 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.00% (Q1 2026), 17.44% (Q4 2025) and 24.53% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 39.14 Bn | 30.03 Bn | 2.15 Bn | 23.26% |
| 2 | Pultegroup | 22.22 Bn | 15.51 Bn | 1.06 Bn | 26.57% |
| 3 | Lennar | 17.48 Bn | 6.90 Bn | 807.31 Mn | 10.17% |
| 4 | Nvr | 16.60 Bn | 9.88 Bn | 485.14 Mn | 20.85% |
| 5 | Toll Brothers | 12.52 Bn | 7.91 Bn | 625.22 Mn | 23.52% |
| 6 | Taylor Morrison Home | 6.77 Bn | 4.76 Bn | 290.64 Mn | 20.95% |
| 7 | Champion Homes | 4.79 Bn | 2.27 Bn | - | - |
| 8 | Cavco Industries | 4.30 Bn | 3.05 Bn | - | - |
| 9 | Meritage Homes | 4.17 Bn | 1.09 Bn | 513.60 Mn | 18.28% |
| 10 | M | 3.44 Bn | 510.26 Mn | 235.50 Mn | 22.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.15% |
| Mar 31, 2026 | 22.00% |
| Dec 31, 2025 | 17.44% |
| Sep 30, 2025 | 24.53% |
| Jun 30, 2025 | 24.65% |
| Mar 31, 2025 | 25.90% |
| Dec 31, 2024 | 24.63% |
| Sep 30, 2024 | 27.07% |
| Jun 30, 2024 | 27.87% |
| Mar 31, 2024 | 27.07% |
| Dec 31, 2023 | 25.13% |
| Sep 30, 2023 | 26.92% |
| Jun 30, 2023 | 25.46% |
| Mar 31, 2023 | 23.45% |
| Dec 31, 2022 | 22.56% |
| Sep 30, 2022 | 26.84% |
| Jun 30, 2022 | 27.32% |
| Mar 31, 2022 | 24.76% |
| Dec 31, 2021 | 23.16% |
| Sep 30, 2021 | 24.52% |
API Access
M Gross Margin 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=gross-margin&ticker=MHO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=MHO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();