Meritage Homes Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $453.0M | $786.2M | $738.7M | $992.2M | $737.4M | $423.5M | $249.7M | $227.3M |
| Depreciation & Amortization | $25.3M | $26.0M | $25.3M | $24.7M | $26.2M | $31.1M | $27.9M | $27.0M |
| Depreciation | $21.7M | $23.6M | $23.5M | $23.0M | $15.3M | $18.9M | $17.3M | $16.3M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $19.7M | $25.8M | $22.5M | $22.3M | $20.1M | $20.0M | $19.6M | $17.2M |
| Net Cash from Operating Activities | $118.3M | $-227.6M | $355.6M | $405.3M | $-152.1M | $530.4M | $346.8M | $262.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $25.7M | $28.7M | $38.2M | $27.0M | $25.7M | $19.9M | $24.4M | $33.4M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-57.7M | $-44.1M | $-43.6M | $-32.3M | $-26.8M | $-18.2M | $-13.5M | $-33.5M |
| Financing Activities | ||||||||
| Dividends Paid | $121.1M | $108.6M | $39.5M | $0 | $0 | — | — | — |
| Stock Repurchases | $295.0M | $125.9M | $59.1M | $109.3M | $61.0M | $69.6M | $16.0M | $100.0M |
| Net Cash from Financing Activities | $63.0M | $2.0M | $-252.3M | $-129.8M | $51.6M | $-86.0M | $-325.3M | $-88.0M |
| Net Change in Cash | $123.6M | $-269.7M | $59.7M | $243.2M | $-127.3M | $426.2M | $8.0M | $140.7M |
| Free Cash Flow | $92.6M | $-256.2M | $317.4M | $378.3M | $-177.8M | $510.4M | $322.4M | $228.8M |