M (MHO) Operating Margin (2010 - 2026)
M (MHO) posted quarterly Operating Margin of 68.02% for Q2 2026, down 644.0% year-over-year from 12.5% in Q2 2025, and little changed on a QoQ basis from 68.31% in Q1 2026.
M (MHO) Operating Margin (2010 - 2026) Analysis & Trends
M has reported Operating Margin for 17 years, with the latest figure at 68.02% in Q2 2026.
- Operating Margin for Q2 2026 came in at 68.02%, down 644.0% year-over-year; the trailing twelve-month figure through Jun 2026 was 68.8% (down 917.0% YoY), and the FY2025 annual result was 65.06%, down 796.0% from the prior year.
- Operating Margin held at 68.02% in Q2 2026, from 68.31% in the prior quarter.
- Over five years, Operating Margin peaked at 54.64% in Q2 2024 and troughed at 75.54% in Q4 2025.
- A 5-year average of 61.08% and a median of 60.86% in 2022 frame the typical range for Operating Margin.
- The widest annual swing landed in 2024, when Operating Margin soared 725 bps; it then tumbled 1431 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 63.95% in 2022, then grew by 5 bps to 60.69% in 2023, then dropped by 1 bps to 61.22% in 2024, then dropped by 23 bps to 75.54% in 2025, then gained by 10 bps to 68.02% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 68.02% in Q2 2026, 68.31% in Q1 2026, and 75.54% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 41.91 Bn | 39.77 Bn | 2.15 Bn | 12.52% |
| 2 | Pultegroup | 24.19 Bn | 22.81 Bn | 1.06 Bn | 16.95% |
| 3 | Lennar | 20.85 Bn | 18.67 Bn | 7.69 Bn | 1.84% |
| 4 | Nvr | 17.07 Bn | 15.98 Bn | 485.14 Mn | 14.38% |
| 5 | Toll Brothers | 13.87 Bn | 12.77 Bn | 604.89 Mn | 13.69% |
| 6 | Taylor Morrison Home | 6.77 Bn | 6.12 Bn | 290.64 Mn | 10.22% |
| 7 | Installed Building Products | 6.56 Bn | 6.17 Bn | 258.90 Mn | 12.16% |
| 8 | Champion Homes | 5.09 Bn | 4.45 Bn | - | - |
| 9 | Meritage Homes | 4.69 Bn | 3.88 Bn | 254.14 Mn | 7.85% |
| 10 | M | 3.90 Bn | 3.16 Bn | 235.50 Mn | -68.02% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -68.02% |
| Mar 31, 2026 | -68.31% |
| Dec 31, 2025 | 1.15% |
| Sep 30, 2025 | 6.69% |
| Jun 30, 2025 | -61.58% |
| Mar 31, 2025 | -59.13% |
| Dec 31, 2024 | -245.89% |
| Sep 30, 2024 | 11.33% |
| Jun 30, 2024 | -54.64% |
| Mar 31, 2024 | 12.07% |
| Dec 31, 2023 | 227.78% |
| Sep 30, 2023 | 11.87% |
| Jun 30, 2023 | -59.22% |
| Mar 31, 2023 | 8.69% |
| Dec 31, 2022 | -229.20% |
| Sep 30, 2022 | -56.71% |
| Jun 30, 2022 | 13.07% |
| Mar 31, 2022 | -61.04% |
| Dec 31, 2021 | -242.66% |
| Sep 30, 2021 | -62.63% |