Meritage Homes Corporation (MTH) P/E Ratio History
ExpensiveTrading at 11.8x vs 5Y avg 6.7x · 100th percentile · Material premium to history · Data 1991–2026
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P/E Ratio Analysis
As of June 21, 2026, Meritage Homes Corporation (MTH) trades at a price-to-earnings ratio of 11.8x, with a stock price of $75.73 and trailing twelve-month earnings per share of $5.72.
The current P/E is 76% above its 5-year average of 6.7x. Over the past five years, MTH's P/E has ranged from a low of 2.7x to a high of 11.3x, placing the current valuation at the 100th percentile of its historical range.
Compared to the Consumer Cyclical sector median P/E of 21.2x, MTH trades at a 44% discount to its sector peers. The sector includes 307 companies with P/E ratios ranging from 0.1x to 184.9x.
The PEG ratio of 3.85 (P/E divided by -40% EPS growth) suggests the stock may be expensive relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, MTH trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our MTH DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
MTH Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
MTH P/E vs Peers
Public single-family homebuilders peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $46B | 13.6 | 1.09 | -19% | |
| $22B | 11.2 | - | -44% | |
| $24B | 11.4 | 0.69 | -24% | |
| $18B | 14.9 | 1.09 | -14% | |
| $15B | 11.5 | 0.36 | -10% | |
| $3B | 8.8Lowest | 0.61 | -27% | |
| $4B | 17.3 | 3.74 | -44% | |
| $7B | 9.2 | 0.28Best | -6% | |
| $5B | 22.8 | 1.16 | +7% | |
| $5B | 25.1 | 1.05 | +16%Best |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
MTH Historical P/E Data (1991–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $61.84 | $5.45 | 11.3x | -4% |
| FY2025 Q4 | Dec 31 2025 | $65.80 | $6.32 | 10.4x | -12% |
| FY2025 Q3 | - | $72.43 | $7.48 | 9.7x | -18% |
| FY2025 Q2 | Jun 30 2025 | $66.97 | $8.76 | 7.6x | -35% |
| FY2025 Q1 | Mar 31 2025 | $70.88 | $9.88 | 7.2x | -39% |
| FY2024 Q4 | - | $76.91 | $10.72 | 7.2x | -39% |
| FY2024 Q3 | Sep 30 2024 | $102.54 | $11.05 | 9.3x | -21% |
| FY2024 Q2 | Jun 30 2024 | $80.93 | $11.37 | 7.1x | -40% |
| FY2024 Q1 | Mar 31 2024 | $87.73 | $10.72 | 8.2x | -31% |
| FY2023 Q4 | Dec 31 2023 | $87.10 | $9.96 | 8.7x | -26% |
| FY2023 Q3 | Sep 30 2023 | $61.20 | $10.81 | 5.7x | -52% |
| FY2023 Q2 | Jun 30 2023 | $71.14 | $11.38 | 6.3x | -47% |
| FY2023 Q1 | Mar 31 2023 | $58.38 | $12.25 | 4.8x | -60% |
| FY2022 Q4 | Dec 31 2022 | $46.10 | $13.38 | 3.4x | -71% |
| FY2022 Q3 | Sep 30 2022 | $35.14 | $12.96 | 2.7x | -77% |
| FY2022 Q2 | - | $36.25 | $12.03 | 3.0x | -74% |
| FY2022 Q1 | - | $39.62 | $10.82 | 3.7x | -69% |
| FY2021 Q4 | Dec 31 2021 | $61.03 | $9.65 | 6.3x | -46% |
| FY2021 Q3 | - | $48.50 | $8.51 | 5.7x | -52% |
| FY2021 Q2 | Jun 30 2021 | $47.04 | $7.30 | 6.4x | -45% |
| FY2021 Q1 | Mar 31 2021 | $45.96 | $6.32 | 7.3x | -38% |
| FY2020 Q4 | - | $41.41 | $5.51 | 7.5x | -36% |
| FY2020 Q3 | Sep 30 2020 | $55.20 | $4.85 | 11.4x | -4% |
| FY2020 Q2 | - | $38.06 | $4.33 | 8.8x | -25% |
| FY2020 Q1 | - | $18.26 | $3.79 | 4.8x | -59% |
| FY2019 Q4 | - | $30.56 | $3.20 | 9.6x | -19% |
| FY2019 Q3 | Sep 30 2019 | $35.17 | $2.83 | 12.4x | +5% |
| FY2019 Q2 | Jun 30 2019 | $25.67 | $2.60 | 9.9x | -16% |
| FY2019 Q1 | Mar 31 2019 | $22.36 | $2.60 | 8.6x | -27% |
| FY2018 Q4 | Dec 31 2018 | $18.36 | $2.81 | 6.5x | -45% |
| FY2018 Q3 | Sep 30 2018 | $19.95 | $2.29 | 8.7x | -26% |
| FY2018 Q2 | Jun 30 2018 | $21.98 | $2.13 | 10.3x | -13% |
| FY2018 Q1 | Mar 31 2018 | $22.63 | $1.97 | 11.5x | -3% |
| FY2017 Q4 | Dec 31 2017 | $25.60 | $1.72 | 14.9x | +26% |
| FY2017 Q3 | Sep 30 2017 | $22.20 | $1.89 | 11.7x | -0% |
| FY2017 Q2 | Jun 30 2017 | $21.10 | $1.82 | 11.6x | -2% |
| FY2017 Q1 | Mar 31 2017 | $18.40 | $1.80 | 10.2x | -14% |
| FY2016 Q4 | Dec 31 2016 | $17.40 | $1.77 | 9.8x | -17% |
| FY2016 Q3 | Sep 30 2016 | $17.35 | $1.79 | 9.7x | -18% |
| FY2016 Q2 | - | $18.77 | $1.72 | 10.9x | -8% |
| FY2016 Q1 | - | $18.23 | $1.59 | 11.4x | -3% |
| FY2015 Q4 | - | $17.00 | $1.54 | 11.0x | -7% |
| FY2015 Q3 | Sep 30 2015 | $18.26 | $1.51 | 12.1x | +2% |
| FY2015 Q2 | - | $23.55 | $1.54 | 15.3x | +30% |
| FY2015 Q1 | - | $24.32 | $1.61 | 15.1x | +28% |
| FY2014 Q4 | Dec 31 2014 | $18.00 | $1.73 | 10.4x | -12% |
| FY2014 Q3 | - | $17.75 | $1.73 | 10.3x | -13% |
| FY2014 Q2 | Jun 30 2014 | $21.11 | $1.82 | 11.6x | -2% |
| FY2014 Q1 | Mar 31 2014 | $20.94 | $1.77 | 11.8x | +0% |
| FY2013 Q4 | - | $24.00 | $1.62 | 14.8x | +26% |
| FY2013 Q3 | Sep 30 2013 | $21.48 | $2.27 | 9.5x | -20% |
| FY2013 Q2 | Jun 30 2013 | $21.68 | $1.87 | 11.6x | -2% |
| FY2013 Q1 | Mar 31 2013 | $23.43 | $1.62 | 14.5x | +23% |
| FY2012 Q4 | Dec 31 2012 | $18.68 | $1.39 | 13.5x | +14% |
| FY2010 Q4 | Dec 31 2010 | $11.10 | $0.11 | 99.9x | +747% |
| FY2010 Q3 | - | $9.81 | $0.81 | 12.2x | +3% |
| FY2010 Q2 | Jun 30 2010 | $8.14 | $0.51 | 16.1x | +37% |
| FY2007 Q2 | Jun 30 2007 | $13.38 | $0.50 | 26.8x | +127% |
| FY2007 Q1 | Mar 31 2007 | $16.06 | $2.99 | 5.4x | -54% |
| FY2006 Q4 | Dec 31 2006 | $23.86 | $4.13 | 5.8x | -51% |
| FY2006 Q3 | Sep 30 2006 | $20.81 | $5.86 | 3.6x | -70% |
| FY2006 Q2 | Jun 30 2006 | $23.63 | $5.93 | 4.0x | -66% |
| FY2006 Q1 | Mar 31 2006 | $27.48 | $5.54 | 5.0x | -58% |
| FY2005 Q4 | Dec 31 2005 | $31.46 | $4.54 | 6.9x | -41% |
| FY2005 Q3 | Sep 30 2005 | $38.33 | $3.64 | 10.5x | -11% |
| FY2005 Q2 | - | $39.75 | $3.09 | 12.9x | +9% |
| FY2005 Q1 | - | $29.46 | $2.51 | 11.7x | -1% |
| FY2004 Q4 | Dec 31 2004 | $28.18 | $2.56 | 11.0x | -7% |
| FY2004 Q3 | - | $19.65 | $2.17 | 9.1x | -23% |
| FY2004 Q2 | Jun 30 2004 | $17.20 | $1.99 | 8.7x | -27% |
| FY2004 Q1 | Mar 31 2004 | $18.56 | $1.93 | 9.6x | -19% |
| FY2003 Q4 | Dec 31 2003 | $16.58 | $1.74 | 9.6x | -19% |
| FY2003 Q3 | - | $11.81 | $1.60 | 7.4x | -37% |
| FY2003 Q2 | Jun 30 2003 | $12.31 | $1.53 | 8.0x | -32% |
| FY2003 Q1 | Mar 31 2003 | $8.38 | $1.44 | 5.8x | -51% |
| FY2002 Q4 | - | $8.41 | $1.33 | 6.3x | -47% |
| FY2002 Q3 | Sep 30 2002 | $8.86 | $1.23 | 7.2x | -39% |
| FY2002 Q2 | Jun 30 2002 | $11.41 | $1.15 | 9.9x | -16% |
| FY2002 Q1 | Mar 31 2002 | $7.99 | $1.11 | 7.2x | -39% |
| FY2001 Q4 | Dec 31 2001 | $6.41 | $1.09 | 5.9x | -50% |
| FY2001 Q3 | Sep 30 2001 | $4.63 | $1.03 | 4.5x | -62% |
| FY2001 Q2 | Jun 30 2001 | $5.75 | $0.94 | 6.1x | -48% |
| FY2001 Q1 | Mar 31 2001 | $3.69 | $0.87 | 4.2x | -64% |
| FY2000 Q4 | Dec 31 2000 | $4.66 | $0.81 | 5.7x | -52% |
| FY2000 Q3 | Sep 30 2000 | $2.28 | $0.71 | 3.2x | -73% |
| FY2000 Q2 | Jun 30 2000 | $1.34 | $0.57 | 2.4x | -80% |
| FY2000 Q1 | Mar 31 2000 | $1.25 | $0.47 | 2.6x | -78% |
| FY1999 Q4 | Dec 31 1999 | $1.36 | $0.42 | 3.3x | -72% |
| FY1999 Q3 | - | $1.50 | $0.40 | 3.7x | -68% |
| FY1999 Q2 | Jun 30 1999 | $1.37 | $0.41 | 3.4x | -72% |
| FY1999 Q1 | Mar 31 1999 | $1.52 | $0.45 | 3.4x | -72% |
| FY1998 Q4 | - | $1.52 | $0.52 | 2.9x | -75% |
| FY1998 Q3 | Sep 30 1998 | $1.73 | $0.51 | 3.4x | -71% |
| FY1998 Q2 | - | $2.28 | $0.53 | 4.3x | -63% |
| FY1998 Q1 | - | $2.34 | $0.44 | 5.3x | -55% |
| FY1997 Q4 | Dec 31 1997 | $1.53 | $0.33 | 4.6x | -61% |
| FY1997 Q3 | - | $1.75 | $0.16 | 11.2x | -5% |
| FY1997 Q2 | Jun 30 1997 | $1.06 | $0.06 | 16.8x | +42% |
| FY1997 Q1 | Mar 31 1997 | $0.72 | $0.01 | 60.4x | +412% |
| FY1996 Q4 | - | $0.94 | $0.01 | 114.3x | +869% |
| FY1996 Q3 | Sep 30 1996 | $0.98 | $0.02 | 42.6x | +261% |
| FY1996 Q2 | Jun 30 1996 | $0.94 | $0.02 | 60.1x | +409% |
| FY1996 Q1 | Mar 31 1996 | $0.61 | $0.02 | 26.4x | +124% |
| FY1995 Q4 | Dec 31 1995 | $0.56 | $0.04 | 14.8x | +25% |
| FY1992 Q1 | - | $2.16 | $0.25 | 8.6x | -27% |
| FY1991 Q4 | - | $2.67 | $0.30 | 8.9x | -25% |
| FY1991 Q3 | Sep 30 1991 | $3.33 | $0.57 | 5.8x | -51% |
Average P/E for displayed period: 11.8x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
35+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
MTH — Frequently Asked Questions
Quick answers to the most common questions about buying MTH stock.
What is MTH's P/E ratio?
Meritage Homes Corporation (MTH) trailing twelve-month P/E ratio is 11.8x, based on TTM diluted EPS of $5.72. The 5-year average P/E is 6.7x and the historical range spans 2.7x to 11.3x.
Is MTH stock overvalued or undervalued?
MTH trades at 11.8x P/E, above its 5-year average of 6.7x. The 100th percentile ranking within the 2.7x–11.3x historical range indicates a premium to historical valuation.
Is MTH stock expensive?
Yes, MTH is expensive relative to its own history. The current P/E of 11.8x is above the 5-year average of 6.7x. The stock sits at the 100th percentile of its 5-year valuation range.
What is MTH's historical P/E range?
Over the past 5 years, MTH's P/E ratio has ranged from 2.7x to 11.3x, with a median of 7.1x and an average of 6.7x. The current P/E of 11.8x places the stock at the 100th percentile of this range. Full historical data spans 1991–2026.
How does MTH's P/E compare to the S&P 500?
MTH trades at 11.8x P/E versus the S&P 500 median of 24.4x. The 52% discount to the market suggests lower growth expectations or perceived higher risk.
How does MTH's valuation compare to Consumer Cyclical peers?
Meritage Homes Corporation P/E of 11.8x compares to the Consumer Cyclical sector median of 21.2x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is MTH's PEG ratio?
MTH PEG ratio is 3.85, based on a P/E of 11.8x and EPS growth of -40.3%. A PEG above 2.0 indicates a premium valuation relative to earnings growth — typically considered expensive.
What is MTH's earnings yield?
MTH earnings yield is 8.45%, the inverse of its 11.8x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.