> ## Content Index
> Fetch the complete content index at: https://www.huntingalphas.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# M/I Homes Is Not A Good Buy Now (Archive)
- URL: https://www.huntingalphas.com/m-i-homes-is-not-a-good-buy-now-archive/
- Published: 2024-02-10T07:34:00.000Z
- Updated: 2026-02-27T08:42:56.000Z
- Description: M/I Homes’ backlog and margins signal slowing growth, limiting further alpha despite cheap valuation.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, MHO, Consumer

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- M/I Homes was one of my top performing picks in 2023, generating almost 120% alpha over the S&P500\. But I think the alpha bull run has run its course:
- The homebuilding backlog is shrinking, which warns of a slowdown in future revenues.
- There are downside risks to both gross margins and EBIT margins due to material and labor cost pressures and higher opex cost intensity.
- Technical analysis also suggests that there is powerful resistance, halting progress of a continued alpha move in the stock vs the S&P500.
- However, M/I Homes trades at a 32% discount to its peer group median multiples, which is what keeps me from expressing a clear bearish view on the stock.

Read the full article [here](https://seekingalpha.com/article/4669239-mi-homes-not-good-buy-now?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*