<h2>最近表现混合后的估值背景</h2>
<p>M/I Homes (MHO) 在过去一天下跌约 4%，过去一周下跌约 6%，尽管该股票在过去一个月仍然略有上涨。这种组合为预期的有趣重置奠定了基础。</p>
<p>请查看我们对 M/I Homes 的最新分析。</p>
<p>放眼长远，最近的回调发生在强劲的多年增长之后，股价仍接近历史高位，长期股东回报依然非常强劲。这表明动能正在暂停，而不是破裂。</p>
<p>如果您在此波动后重新评估房地产股票，这也是一个很好的时机来扩大搜索范围，发现内部持股比例高的快速增长股票。</p>
<p>随着增长放缓，股价仍徘徊在高位但低于分析师目标，现在的关键问题是 M/I Homes 是否真正以折扣价交易，还是市场已经在定价其下一轮增长。</p>
<h2>最受欢迎的叙述：低估 16.6%</h2>
<p>M/I Homes 最近收盘价为 127.65 美元，而叙述的公允价值为 153 美元，尽管基本面较弱，但估值仍然支持。</p>
<p><em>该公司正在战略性地扩大社区数量，同比增长 5%，并计划在高需求地区（中西部、东南部，尤其是德克萨斯州和佛罗里达州等南方市场）继续增长，这些地区的人口趋势（千禧一代和 Z 世代买家、家庭形成）和迁移模式支持长期需求。这使得 M/I Homes 有潜在的未来收入增长。尽管短期面临更高利率的逆风，但美国单户住宅相对于人口需求的持续短缺意味着许多买家仍在观望，这表明存在大量潜在需求，可能会随着宏观条件的变化而显现，从而支持未来的销售和收入趋势。</em></p>
<p>阅读完整叙述。</p>
<p>想看看温和的收入收缩、较低的利润率和更高的未来收益倍数如何仍然可以用来论证未来的上涨，发现推动这一结论的完整策略。</p>
<p><strong>结果：公允价值 153 美元（低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，持续的利率压力、合同减少和库存风险上升可能会进一步压缩利润率，并挑战当前的低估论点。</p>
<p>了解 M/I Homes 叙述的关键风险。</p>
<h2>价值的另一个角度</h2>
<p>虽然叙述的公允价值表明 M/I Homes 低估 16.6%，但传统的市盈率指标仍然看起来支持。该股票的市盈率为 7.1 倍，而消费品耐用品行业约为 11.1 倍，同行为 12.4 倍，公允比率为 10.7 倍。</p>
<p>这一差距表明，如果市场情绪正常化，市场将 M/I Homes 向其公允比率转移，可能会带来显著的上涨。这也引发了一个问题：如果收益持续下滑，折扣是否实际上是合理的？</p>
<p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/78ecf0fc-77ec-49a6-a56d-87519a35c5da/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/78ecf0fc-77ec-49a6-a56d-87519a35c5da/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的纽约证券交易所:MHO 市盈率</p>
<p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 M/I Homes）。我们展示完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 914 只基于现金流的低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的 M/I Homes 叙述</h2>
<p>如果您对故事有不同看法或想用自己的研究来检验假设，您可以在几分钟内构建自定义视图：按您的方式进行。</p>
<p>您对 M/I Homes 研究的一个很好的起点是我们的分析，强调两个关键奖励和一个可能影响您投资决策的重要警告信号。</p>
<h2>寻找更多投资想法？</h2>
<p>不要将您的研究局限于一只股票。使用 Simply Wall St 筛选器在其他人注意到之前发现新的机会。</p>
<ul>
<li>通过扫描这些 914 只基于现金流的低估股票，捕捉被忽视的增长潜力，这些股票的强现金流分析表明市场定价错误。</li>
<li>通过评估这 25 只利用人工智能重塑整个行业的 AI 便士股票，站在创新的前沿。</li>
<li>通过审查这 13 只收益率超过 3% 的股息股票，锁定可靠的收入来源，这些股票提供超过 3% 的收益率，并有长期复利的空间。</li>
</ul>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>下一波机器人技术不是类人机器人，而是能够在 30 分钟内提供 5G、ISR 和雷达的全自动塔，适用于任何地方。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

MI家居

<p>M/I Homes (MHO) 最近出现回调，单日下跌 4%，一周下跌 6%，但月度仍保持上涨。尽管面临短期阻力，该股票被认为低估了 16.6%，合理价值为 153 美元。公司正在高需求地区进行战略扩张，为未来增长做好准备。然而，持续的利率压力和库存上升可能会对低估论点构成挑战。该股票的市盈率低于行业同行，暗示如果市场情绪改善，可能会有上涨空间</p>

<h2>Valuation backdrop after mixed recent performance</h2>
<div class="lb-trans"><h2>最近表现混合后的估值背景</h2>
</div><p>M/I Homes (MHO) has slipped about 4% in the past day and roughly 6% over the past week, even though the stock is still modestly higher over the past month. This combination sets up an interesting reset in expectations.</p>
<div class="lb-trans"><p>M/I Homes (MHO) 在过去一天下跌约 4%，过去一周下跌约 6%，尽管该股票在过去一个月仍然略有上涨。这种组合为预期的有趣重置奠定了基础。</p>
</div><p>See our latest analysis for M/I Homes.</p>
<div class="lb-trans"><p>请查看我们对 M/I Homes 的最新分析。</p>
</div><p>Zooming out, the recent pullback comes after a strong multi year run, with the share price still near record territory and longer term total shareholder returns remaining very robust. This suggests momentum is pausing rather than breaking.</p>
<div class="lb-trans"><p>放眼长远，最近的回调发生在强劲的多年增长之后，股价仍接近历史高位，长期股东回报依然非常强劲。这表明动能正在暂停，而不是破裂。</p>
</div><p>If you are reassessing housing names after this move, it can also be a good moment to broaden your search and discover fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果您在此波动后重新评估房地产股票，这也是一个很好的时机来扩大搜索范围，发现内部持股比例高的快速增长股票。</p>
</div><p>With growth cooling and the share price still hovering near highs but below analyst targets, the key question now is whether M/I Homes trades at a genuine discount or if markets are already pricing in its next leg of growth.</p>
<div class="lb-trans"><p>随着增长放缓，股价仍徘徊在高位但低于分析师目标，现在的关键问题是 M/I Homes 是否真正以折扣价交易，还是市场已经在定价其下一轮增长。</p>
</div><h2>Most Popular Narrative: 16.6% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：低估 16.6%</h2>
</div><p>With M/I Homes last closing at 127.65 dollars versus a narrative fair value of 153 dollars, the valuation case leans supportive despite softer fundamentals.</p>
<div class="lb-trans"><p>M/I Homes 最近收盘价为 127.65 美元，而叙述的公允价值为 153 美元，尽管基本面较弱，但估值仍然支持。</p>
</div><p><em>The company is strategically expanding its community count, up 5 percent year over year, and planning continued growth in high demand regions (Midwest, Southeast, and especially Southern markets like Texas and Florida) where demographic trends (millennial and Gen Z buyers, household formation) and migration patterns support long term demand. This positions M/I Homes for potential future revenue growth. Despite short term headwinds from higher rates, the persistent U.S. single family home undersupply relative to demographic demand means many buyers are still on the sidelines, suggesting there is substantial pent up demand that could materialize as macro conditions change, which could support future sales and revenue trends.</em></p>
<div class="lb-trans"><p><em>该公司正在战略性地扩大社区数量，同比增长 5%，并计划在高需求地区（中西部、东南部，尤其是德克萨斯州和佛罗里达州等南方市场）继续增长，这些地区的人口趋势（千禧一代和 Z 世代买家、家庭形成）和迁移模式支持长期需求。这使得 M/I Homes 有潜在的未来收入增长。尽管短期面临更高利率的逆风，但美国单户住宅相对于人口需求的持续短缺意味着许多买家仍在观望，这表明存在大量潜在需求，可能会随着宏观条件的变化而显现，从而支持未来的销售和收入趋势。</em></p>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Want to see how modest revenue contraction, slimmer margins, and a richer future earnings multiple can still be used to argue for upside from here, discover the full playbook driving that conclusion.</p>
<div class="lb-trans"><p>想看看温和的收入收缩、较低的利润率和更高的未来收益倍数如何仍然可以用来论证未来的上涨，发现推动这一结论的完整策略。</p>
</div><p><strong>Result: Fair Value of $153 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值 153 美元（低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, sustained rate pressure, softer contracts, and rising inventory exposure could weigh further on margins and challenge the current undervaluation thesis.</p>
<div class="lb-trans"><p>然而，持续的利率压力、合同减少和库存风险上升可能会进一步压缩利润率，并挑战当前的低估论点。</p>
</div><p>Find out about the key risks to this M/I Homes narrative.</p>
<div class="lb-trans"><p>了解 M/I Homes 叙述的关键风险。</p>
</div><h2>Another angle on value</h2>
<div class="lb-trans"><h2>价值的另一个角度</h2>
</div><p>While the narrative fair value suggests M/I Homes is 16.6 percent undervalued, traditional price to earnings metrics still look supportive. The stock trades on 7.1 times earnings versus about 11.1 times for the Consumer Durables industry and 12.4 times for peers, with a fair ratio of 10.7 times.</p>
<div class="lb-trans"><p>虽然叙述的公允价值表明 M/I Homes 低估 16.6%，但传统的市盈率指标仍然看起来支持。该股票的市盈率为 7.1 倍，而消费品耐用品行业约为 11.1 倍，同行为 12.4 倍，公允比率为 10.7 倍。</p>
</div><p>That gap points to meaningful upside if sentiment normalizes and the market shifts M/I Homes toward its fair ratio. It also raises the question: what if earnings keep sliding and the discount is actually deserved?</p>
<div class="lb-trans"><p>这一差距表明，如果市场情绪正常化，市场将 M/I Homes 向其公允比率转移，可能会带来显著的上涨。这也引发了一个问题：如果收益持续下滑，折扣是否实际上是合理的？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/78ecf0fc-77ec-49a6-a56d-87519a35c5da/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/78ecf0fc-77ec-49a6-a56d-87519a35c5da/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:MHO PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的纽约证券交易所:MHO 市盈率</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out M/I Homes for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 914 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 M/I Homes）。我们展示完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 914 只基于现金流的低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own M/I Homes Narrative</h2>
<div class="lb-trans"><h2>构建您自己的 M/I Homes 叙述</h2>
</div><p>If you see the story differently or want to stress test the assumptions with your own research, you can build a custom view in minutes: Do it your way.</p>
<div class="lb-trans"><p>如果您对故事有不同看法或想用自己的研究来检验假设，您可以在几分钟内构建自定义视图：按您的方式进行。</p>
</div><p>A great starting point for your M/I Homes research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.</p>
<div class="lb-trans"><p>您对 M/I Homes 研究的一个很好的起点是我们的分析，强调两个关键奖励和一个可能影响您投资决策的重要警告信号。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Do not leave your research at one stock. Use the Simply Wall St Screener to spot fresh opportunities before they hit everyone else’s radar.</p>
<div class="lb-trans"><p>不要将您的研究局限于一只股票。使用 Simply Wall St 筛选器在其他人注意到之前发现新的机会。</p>
</div><ul>
<li>Capture overlooked growth potential by scanning these 914 undervalued stocks based on cash flows that strong cash flow analysis suggests the market has mispriced.</li>
<li>Position yourself at the frontier of innovation by assessing these 25 AI penny stocks harnessing artificial intelligence to reshape entire industries.</li>
<li>Lock in dependable income streams by reviewing these 13 dividend stocks with yields &gt; 3% offering yields above 3 percent with room for long term compounding.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过扫描这些 914 只基于现金流的低估股票，捕捉被忽视的增长潜力，这些股票的强现金流分析表明市场定价错误。</li>
<li>通过评估这 25 只利用人工智能重塑整个行业的 AI 便士股票，站在创新的前沿。</li>
<li>通过审查这 13 只收益率超过 3% 的股息股票，锁定可靠的收入来源，这些股票提供超过 3% 的收益率，并有长期复利的空间。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
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<div class="lb-trans"><p>下一波机器人技术不是类人机器人，而是能够在 30 分钟内提供 5G、ISR 和雷达的全自动塔，适用于任何地方。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
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在 M/I Homes (M/I Homes) 最近回调后重新评估其估值