MTH Meritage Homes Corporation Common Stock
$74.10
Price · Aug 19, 2026
Fundamentals as of Jul 31, 2026
52W Range
$58–$85
59% of range
Analyst Rating
HOLD
15 analysts
Price Target
$82
+11% upside
P/E (TTM)
11.7
ROE
8.7%
Net Profit Margin
—
About Meritage Homes Corporation Common Stock Company overview from Wikipedia
Meritage Homes Corporation is a publicly traded American real estate development company that constructs a variety of single-family detached homes across the United States. It is the fifth largest home builder in the United States, based on 2023 home sales. The company also develops active adult communities and luxury real estate in Arizona.
Read more
Meritage Homes Corporation is a publicly traded American real estate development company that constructs a variety of single-family detached homes across the United States. It is the fifth largest home builder in the United States, based on 2023 home sales. The company also develops active adult communities and luxury real estate in Arizona.
The company is headquartered in Scottsdale, Arizona.
History
Meritage Homes was founded in 1985 as Monterey Homes in Scottsdale, Arizona, by Steve Hilton and William "Bill" Cleverly.
In 1997, the company changed its name to Meritage Homes Corp, and began trading on the New York Stock Exchange under the symbol MTH.
In 2011, the company unveiled its first net-zero energy homes, in Buckeye, Arizona.
In July 2014, the company acquired Douglasville, Georgia-based Legendary Communities, the owner operator of almost 4,000 home sites, for nearly $130 million.
In 2015, the company promoted its Sierra Crest development in Fontana, CA as California's first net-zero energy community.
In April 2019, the company built its first all-electric, zero-net-energy townhome community, in Irvine California. In December, the Wall Street Journal reported how large home builders like Meritage were targeting millennials by producing a larger number of less expensive, entry-level homes.
Operations
Meritage is headquartered in Scottsdale, Arizona, and divides its operations into four regions: West, Central, East and South. It develops homes for entry level and first move-up buyers, including "net zero" energy efficient homes that provide as much power as they consume. The company trades on the NY Stock Exchange under the symbol MTH, and is also listed in the S&P SmallCap 600 Index.
Awards and recognition
In 2021, the company was listed as one of Forbes' best mid-sized companies, ranking #39 on the list.
For several years they have been a Top 10 home builder according to Builder's Top 100 Home Builder rankings. In 2023, they were the 5th largest builder.
Customer complaints
Multiple customers have reported issues with their single family homes. They have described blue tape, cracks, fissures and issues within newly built homes.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
MTH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$74.09
Market Cap
$5.05B
P/E (TTM)
11.7
EPS (TTM)
$6.35
Revenue (TTM)
—
Div Yield
2.4%
ROE
8.7%
Debt/Equity
—
52W Range
$58 – $85
MTH Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$6.35
2016-12-31
→
2025-12-31
Free Cash Flow
$93M
2016-12-31
→
2025-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MTH
Peer Median
P/E (TTM)
11.7
12.6
P/B
1.0
1.8
Price / FCF
54.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MTH
Peer Median
ROA
6.1%
9.5%
ROE
8.7%
13.7%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MTH
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MTH
Peer Median
EPS YoY
-40.8%
—
Net Income YoY
-42.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MTH
Peer Median
Payout Ratio
26.7%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.4%
Payout Ratio
26.7%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 16, 2026 | $0.4800 |
| March 17, 2026 | $0.4800 |
| Dec. 17, 2025 | $0.4300 |
| Sept. 16, 2025 | $0.4300 |
| June 16, 2025 | $0.4300 |
| March 17, 2025 | $0.4300 |
| Dec. 17, 2024 | $0.3750 |
| Sept. 16, 2024 | $0.3750 |
| June 14, 2024 | $0.3750 |
| March 14, 2024 | $0.3750 |
| Dec. 14, 2023 | $0.1350 |
| Sept. 14, 2023 | $0.1350 |
| June 14, 2023 | $0.1350 |
| March 14, 2023 | $0.1350 |
| Dec. 26, 1997 | $0.0019 |
| Dec. 26, 1996 | $0.0075 |
| Dec. 27, 1995 | $0.0113 |
| Dec. 23, 1994 | $0.0019 |
| Dec. 23, 1993 | $0.0113 |
| June 23, 1992 | $0.0563 |
MTH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
15 analysts
- Strong Buy 2 13.3%
- Buy 6 40.0%
- Hold 7 46.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
8 analysts · 2026-08-18
Median
$84.00
Now
$74.09
Low
$72.00
High
$93.00
Median target
$84.00
+13.4%
Mean target
$82.38
+11.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.12%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.37 | $1.31 | 0.06% |
| March 31, 2026 | $0.82 | $1.02 | -0.20% |
| Dec. 31, 2025 | $1.20 | $1.55 | -0.35% |
| Sept. 30, 2025 | $1.39 | $1.65 | -0.26% |
| June 30, 2025 | $2.04 | $1.98 | 0.06% |
| March 31, 2025 | $1.69 | $1.70 | -0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MTH | $4.49B | 10.4 | — | — | 8.7% | — |
| TOL | $12.79B | 10.0 | 1.1% | 12.3% | 16.9% | — |
| IBP | $7.00B | 26.7 | 1.0% | 8.9% | 38.6% | 34.0% |
| SKY | $3.98B | 19.8 | 7.3% | 7.8% | 13.3% | 26.4% |
| CVCO | $3.61B | 19.4 | 11.4% | 8.5% | 17.4% | 23.5% |
| MHO | — | 8.7 | -1.9% | 9.1% | 13.2% | — |
| KBH | — | 10.5 | -10.0% | 6.9% | 10.9% | — |
| GRBK | — | 8.9 | -1.0% | 15.3% | — | 31.4% |
| CCS | $1.72B | 12.2 | -6.4% | 3.6% | 5.7% | — |
| DHI | $49.90B | 14.6 | -6.9% | 10.5% | 14.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Profit | · | · | · | · | · | · | · | · | $566M | $531M | $489M | $453M | |
| SG&A Expense | $212M | $231M | $232M | $193M | $181M | $159M | $146M | $138M | $124M | $124M | $113M | $105M | |
| Operating Income | · | · | · | · | · | · | · | · | · | · | · | $225M | |
| Interest Expense | $0 | $0 | $0 | $41.0K | $318.0K | $2M | $8M | $785.0K | $4M | $5M | $16M | $5M | |
| Other Non-op | $44M | $45M | $48M | $3M | $5M | $7M | $10M | $11M | $9M | $5M | $-946.0K | $7M | |
| Pretax Income | $585M | $1.00B | $949M | $1.29B | $955M | $534M | $303M | $283M | $248M | $218M | $189M | $208M | |
| Income Tax | $132M | $217M | $211M | $297M | $217M | $110M | $53M | $56M | $104M | $69M | $61M | $66M | |
| Net Income | $453M | $786M | $739M | $992M | $737M | $423M | $250M | $227M | $143M | $150M | $129M | $142M | |
| EPS (Basic) | $6.40 | $10.85 | $10.09 | $13.52 | $19.61 | $11.23 | $6.55 | $5.67 | $3.56 | $3.74 | $3.25 | $3.65 | |
| EPS (Diluted) | $6.35 | $10.72 | $9.96 | $13.37 | $19.29 | $11.00 | $6.42 | $5.58 | $3.41 | $3.55 | $3.09 | $3.46 | |
| Shares (Basic) | 70,819,000 | 72,476,000 | 73,238,000 | 73,388,000 | 37,610,000 | 37,718,000 | 38,100,000 | 40,107,000 | 40,287,000 | 39,976,000 | 39,593,000 | 39,017,000 | |
| Shares (Diluted) | 71,348,000 | 73,332,000 | 74,138,000 | 74,202,000 | 38,233,000 | 38,484,000 | 38,891,000 | 40,728,000 | 42,228,000 | 42,585,000 | 42,164,000 | 41,614,000 | |
| EBITDA | $25M | $26M | $25M | $25M | $26M | $31M | $28M | $27M | $17M | $16M | $14M | $225M |
Balance Sheet 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $775M | $652M | $921M | $862M | $618M | $746M | $319M | $311M | $171M | $132M | $262M | $103M | |
| PP&E (Net) | $47M | $47M | $49M | $39M | $37M | $39M | $51M | $55M | $34M | $33M | $34M | $32M | |
| PP&E (Gross) | $123M | $117M | $123M | $123M | $124M | $136M | $143M | $138M | $91M | $81M | $73M | $66M | |
| Accum. Depreciation | $76M | $69M | $74M | $85M | $87M | $97M | $93M | $83M | $57M | $48M | $39M | $34M | |
| Goodwill | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | |
| Total Assets | $7.62B | $7.16B | $6.35B | $5.77B | $4.81B | $3.86B | $3.40B | $3.37B | $3.25B | $2.89B | $2.68B | $2.32B | |
| Deferred Tax | · | · | $8M | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $2.43B | $2.02B | $1.74B | $1.82B | $1.76B | $1.52B | $1.42B | $1.64B | $1.67B | $1.47B | $1.42B | $1.21B | |
| Common Stock | $682.0K | $360.0K | $364.0K | $366.0K | $373.0K | $375.0K | $382.0K | $381.0K | $403.0K | $400.0K | $397.0K | $391.0K | |
| Retained Earnings | $5.19B | $5.00B | $4.32B | $3.62B | $2.63B | $1.89B | $1.47B | $1.22B | $992M | $849M | $699M | $570M | |
| Stockholders' Equity | $5.20B | $5.14B | $4.61B | $3.95B | $3.04B | $2.35B | $1.97B | $1.72B | $1.58B | $1.42B | $1.26B | $1.11B | |
| Liabilities + Equity | $7.62B | $7.16B | $6.35B | $5.77B | $4.81B | $3.86B | $3.40B | $3.37B | $3.25B | $2.89B | $2.68B | $2.32B | |
| Shares Outstanding | 68,168,923 | 71,921,972 | 72,850,074 | 36,571,393 | 37,340,855 | 37,512,127 | 38,199,111 | 38,072,659 | 40,330,741 | · | · | · |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $25M | $26M | $25M | $25M | $26M | $31M | $28M | $27M | $17M | $16M | $14M | $12M | |
| Stock-based Comp | $20M | $26M | $23M | $22M | $20M | $20M | $20M | $17M | $12M | $14M | $16M | $12M | |
| Deferred Tax | $969.0K | $10M | $-1M | $-4M | $-3M | $-10M | $619.0K | $9M | $19M | $6M | $4M | $7M | |
| Other Non-cash | $-381M | $-1.08B | $-430M | $-630M | $-933M | $66M | $49M | $-18M | $-278M | $-289M | $-167M | · | |
| Operating Cash Flow | $118M | $-228M | $356M | $405M | $-152M | $530M | $347M | $262M | $-87M | $-103M | $-3M | $-211M | |
| CapEx | $26M | $29M | $38M | $27M | $26M | $20M | $24M | $33M | $18M | $17M | $16M | $21M | |
| Investing Cash Flow | $-58M | $-44M | $-44M | $-32M | $-27M | $-18M | $-13M | $-34M | $-17M | $-20M | $-16M | $-63M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | $0 | $0 | $110M | |
| Stock Repurchased | $295M | $126M | $59M | $109M | $61M | $70M | $16M | $100M | $0 | $0 | · | · | |
| Net Stock Activity | $-295M | $-126M | $-59M | $-109M | $-61M | $-70M | $-16M | $-100M | · | $0 | $0 | $110M | |
| Dividends Paid | $121M | $109M | $40M | $0 | $0 | · | · | · | · | · | · | · | |
| Financing Cash Flow | $63M | $2M | $-252M | $-130M | $52M | $-86M | $-325M | $-88M | $143M | $-7M | $179M | $103M | |
| Net Change in Cash | $124M | $-270M | $60M | $243M | $-127M | $426M | $8M | $141M | $39M | $-131M | $159M | $-171M | |
| Taxes Paid | $154M | $209M | $212M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $93M | $-256M | $317M | $378M | $-178M | $510M | $322M | $229M | $-105M | $-120M | $-19M | $-232M | |
| Levered FCF | $93M | $-256M | $317M | $378M | $-178M | $509M | $316M | $228M | $-107M | $-124M | $-30M | $-236M |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | 6.1% | 11.6% | 12.2% | 18.8% | 17.0% | 11.7% | 7.4% | 6.9% | 4.7% | 5.4% | 5.1% | 6.6% | |
| ROE | 8.7% | 15.5% | 16.4% | 26.0% | 25.1% | 18.6% | 13.0% | 13.2% | 9.2% | 10.7% | 10.5% | 13.1% | |
| ROIC | · | · | · | · | · | · | · | · | · | · | · | 13.8% |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | 43.5 |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EPS YoY | -40.8% | 7.6% | -25.5% | -30.7% | 75.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -22.0% | -17.8% | -3.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -10.4% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -42.4% | 6.4% | -25.5% | 34.5% | 74.1% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -23.0% | 2.2% | 20.4% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 1.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $453M | $786M | $739M | $992M | $737M | $423M | $250M | $227M | $143M | $150M | $129M | $142M | |
| Market Cap | $4.49B | $5.53B | $3.17B | $1.69B | $2.28B | $1.55B | $1.17B | · | · | · | · | · | |
| P/E | 10.4 | 7.2 | 8.7 | 3.4 | 3.2 | 3.8 | 4.8 | 3.3 | 7.5 | 4.9 | 5.5 | 5.2 | |
| P/B | 0.9 | 1.1 | 0.7 | 0.4 | 0.7 | 0.7 | 0.6 | · | · | · | · | · | |
| P / Tangible Book | 0.9 | 1.1 | 0.7 | 0.4 | 0.8 | 0.7 | · | · | · | · | · | · | |
| P / Cash Flow | 37.9 | -24.3 | 8.9 | 4.2 | -15.0 | 2.9 | 3.4 | · | · | · | · | · | |
| P / FCF | 48.5 | -21.6 | 10.0 | 4.5 | -12.8 | 3.0 | 3.6 | · | · | · | · | · | |
| Dividend Yield | 2.7% | 2.0% | 1.2% | 0.00% | 0.00% | · | · | · | · | · | · | · | |
| Earnings Yield | 9.7% | 13.9% | 11.4% | 29.0% | 31.6% | 26.6% | 21.0% | 30.4% | 13.3% | 20.4% | 18.2% | 19.2% | |
| Payout Ratio | 26.7% | 13.8% | 5.3% | · | · | · | · | · | · | · | · | · | |
| Annual Payout | $121M | $109M | $40M | $0 | $0 | · | · | · | · | · | · | · |
Income Statement 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SG&A Expense | $52M | $51M | $48M | $52M | $55M | $57M | $68M | $59M | $53M | $51M | $69M | $63M | $52M | $48M | $57M | $48M | |
| Interest Expense | $2M | $587.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Non-op | $7M | $7M | $16M | $8M | $11M | $9M | $14M | $11M | $11M | $9M | $13M | $13M | $13M | $9M | $4M | $-74.0K | |
| Pretax Income | $121M | $73M | $103M | $128M | $193M | $160M | $222M | $250M | $297M | $234M | $259M | $286M | $240M | $165M | $342M | $329M | |
| Income Tax | $30M | $17M | $19M | $29M | $46M | $37M | $49M | $54M | $66M | $48M | $60M | $64M | $53M | $34M | $80M | $67M | |
| Net Income | $91M | $55M | $84M | $99M | $147M | $123M | $173M | $196M | $232M | $186M | $199M | $222M | $187M | $131M | $262M | $262M | |
| EPS (Basic) | $1.38 | $0.82 | $1.23 | $1.40 | $2.06 | $1.71 | $2.40 | $2.70 | $3.19 | $2.56 | $-4.63 | $6.06 | $5.08 | $3.58 | $-6.35 | $7.18 | |
| EPS (Diluted) | $1.37 | $0.82 | $1.23 | $1.39 | $2.04 | $1.69 | $2.37 | $2.67 | $3.15 | $2.53 | $-4.58 | $5.98 | $5.02 | $3.54 | $-6.29 | $7.10 | |
| Shares (Basic) | 65,787,000 | 67,367,000 | -143,232,000 | 70,680,000 | 71,456,000 | 71,915,000 | -145,242,000 | 72,452,000 | 72,644,000 | 72,622,000 | -36,794,000 | 36,603,000 | 36,765,000 | 36,664,000 | -36,824,000 | 36,569,000 | |
| Shares (Diluted) | 66,131,000 | 67,806,000 | -144,390,000 | 71,188,000 | 71,900,000 | 72,650,000 | -147,000,000 | 73,338,000 | 73,436,000 | 73,558,000 | -37,252,000 | 37,078,000 | 37,191,000 | 37,121,000 | -37,233,000 | 36,946,000 | |
| EBITDA | · | $5M | · | · | · | $6M | · | · | · | $6M | · | · | · | $5M | · | · |
Balance Sheet 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $807M | $767M | $775M | $729M | $930M | $1.01B | $652M | $832M | $993M | $905M | · | $1.05B | $1.16B | $957M | · | $299M | |
| PP&E (Net) | $46M | $46M | $47M | $48M | $46M | $47M | $47M | $47M | $47M | $48M | · | $51M | $47M | $42M | · | $39M | |
| PP&E (Gross) | · | · | $123M | · | · | · | $117M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $76M | · | · | · | $69M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | |
| Total Assets | $7.55B | $7.55B | $7.62B | $7.76B | $7.76B | $7.70B | $7.16B | $7.10B | $6.92B | $6.49B | · | $6.18B | $6.07B | $5.87B | · | $5.57B | |
| Total Liabilities | $2.50B | $2.46B | $2.43B | $2.47B | $2.49B | $2.51B | $2.02B | $2.07B | $2.04B | $1.77B | · | $1.76B | $1.82B | $1.80B | · | $1.89B | |
| Common Stock | $652.0K | $667.0K | $682.0K | $704.0K | $712.0K | $718.0K | $360.0K | $362.0K | $363.0K | $363.0K | · | $364.0K | $368.0K | $368.0K | · | $366.0K | |
| Retained Earnings | $5.06B | $5.09B | $5.19B | $5.28B | $5.21B | $5.09B | $5.00B | $4.85B | $4.68B | $4.48B | · | $4.13B | $3.92B | $3.74B | · | $3.36B | |
| Stockholders' Equity | $5.06B | $5.09B | $5.20B | $5.29B | $5.27B | $5.19B | $5.14B | $5.03B | $4.88B | $4.72B | $4.61B | $4.42B | $4.25B | $4.07B | $3.95B | $3.68B | |
| Liabilities + Equity | $7.55B | $7.55B | $7.62B | $7.76B | $7.76B | $7.70B | $7.16B | $7.10B | $6.92B | $6.49B | · | $6.18B | $6.07B | $5.87B | · | $5.57B | |
| Shares Outstanding | 65,174,093 | 66,702,433 | 68,168,923 | 70,406,707 | 71,156,138 | 71,830,262 | 71,921,972 | 36,179,602 | 36,327,214 | 36,319,014 | · | 36,449,906 | 36,765,267 | 36,765,267 | · | 36,571,393 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $6M | $5M | $7M | $6M | $7M | $6M | $7M | $7M | $7M | $6M | $8M | $6M | $6M | $5M | $7M | $6M | |
| Stock-based Comp | $6M | $6M | $5M | $5M | $4M | $6M | $7M | $8M | $5M | $6M | $6M | $6M | $4M | $6M | $5M | $7M | |
| Other Non-cash | · | $35M | · | · | · | $-178M | · | · | · | $-116M | · | · | · | $-18M | · | · | |
| Operating Cash Flow | $189M | $101M | $244M | $-97M | $14M | $-43M | $-100M | $-92M | $-118M | $82M | $-105M | $104M | $231M | $124M | $575M | $37M | |
| CapEx | $6M | $4M | $6M | $8M | $7M | $6M | $7M | $8M | $7M | $6M | $7M | $10M | $12M | $9M | $7M | $7M | |
| Investing Cash Flow | $-18M | $-8M | $-17M | $-19M | $-10M | $-11M | $-13M | $-12M | $-12M | $-8M | $-9M | $-13M | $-13M | $-9M | $-7M | $-7M | |
| Stock Repurchased | $100M | $130M | $150M | $55M | $45M | $45M | $40M | $30M | $0 | $56M | $4M | $45M | $0 | $10M | $0 | $0 | |
| Net Stock Activity | · | $-130M | · | · | · | $-45M | · | · | · | $-56M | · | · | · | $-10M | · | · | |
| Dividends Paid | $31M | $32M | $29M | $30M | $31M | $31M | $27M | $27M | $27M | $27M | $10M | $10M | $10M | $10M | $0 | $0 | |
| Financing Cash Flow | $-131M | $-102M | $-181M | $-86M | $-85M | $414M | $-68M | $-58M | $217M | $-90M | $-14M | $-206M | $-12M | $-20M | $-6M | $-3M | |
| Net Change in Cash | $41M | $-9M | $46M | $-202M | $-81M | $360M | $-180M | $-161M | $88M | $-16M | $-128M | $-114M | $206M | $96M | $562M | $27M | |
| Free Cash Flow | · | $97M | · | · | · | $-48M | · | · | · | $76M | · | · | · | $116M | · | · | |
| Levered FCF | · | $97M | · | · | · | $-48M | · | · | · | $76M | · | · | · | $116M | · | · |
Profitability 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | 1.2% | 0.73% | · | 1.3% | 2.0% | 1.7% | · | 2.9% | 3.6% | 3.0% | · | 3.8% | 3.3% | 2.4% | · | 5.2% | |
| ROE | 1.8% | 1.1% | · | 1.9% | 2.9% | 2.5% | · | 4.2% | 5.1% | 4.2% | · | 5.5% | 4.9% | 3.6% | · | 8.1% |
Valuation (TTM) 9
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $392M | $424M | · | $565M | $697M | $736M | · | $835M | $826M | $726M | · | $802M | $831M | $861M | · | $931M | |
| Market Cap | $5.46B | $4.12B | · | $5.10B | $4.77B | $5.09B | · | $3.71B | $2.94B | $3.19B | · | $2.23B | $2.62B | $2.15B | · | $1.28B | |
| P/E | 14.9 | 10.4 | · | 9.3 | 7.0 | 7.1 | · | 7.2 | 4.9 | 5.1 | · | 2.8 | 3.2 | 2.5 | · | 1.4 | |
| P/B | 1.1 | 0.8 | · | 1.0 | 0.9 | 1.0 | · | 0.7 | 0.6 | 0.7 | · | 0.5 | 0.6 | 0.5 | · | 0.3 | |
| P / Tangible Book | 1.1 | 0.8 | · | 1.0 | 0.9 | 1.0 | · | 0.7 | 0.6 | 0.7 | · | 0.5 | 0.6 | 0.5 | · | 0.4 | |
| P / Cash Flow | · | 40.7 | · | · | · | -119.6 | · | · | · | 38.9 | · | · | · | 17.2 | · | · | |
| P / FCF | · | 42.5 | · | · | · | -105.7 | · | · | · | 42.1 | · | · | · | 18.6 | · | · | |
| Earnings Yield | 6.7% | 9.6% | · | 10.8% | 14.3% | 14.2% | · | 14.0% | 20.6% | 19.5% | · | 35.4% | 31.5% | 39.7% | · | 70.9% | |
| Payout Ratio | · | 57.9% | · | · | · | 25.1% | · | · | · | 14.6% | · | · | · | 7.6% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Net Income | $453M | $786M | $739M | $992M | $737M |
| Diluted EPS | $6.35 | $10.72 | $9.96 | $13.37 | $19.29 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $93M | $-256M | $317M | $378M | $-178M |
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Institutional owners (13F) 439 filers · $3.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 62 (-8 vs prior Q) | 55 (+11 vs prior Q) | 146 (+3 vs prior Q) | 140 (-7 vs prior Q) | +9.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $339,262,718 | 4,046,067 | 9.06% | Shares |
| STATE STREET CORP | $301,440,498 | 3,594,997 | 8.05% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $242,833,289 | 2,896,044 | 6.49% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $233,128,568 | 2,780,305 | 6.23% | Shares |
| FMR LLC | $198,321,155 | 2,365,190 | 5.30% | Shares |
| Capital World Investors | $171,230,169 | 2,042,101 | 4.57% | Shares |
| TWO SIGMA INVESTMENTS, LP | $154,206,858 | 1,839,080 | 4.12% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $123,143,308 | 1,468,305 | 3.29% | Shares |
| BAMCO INC /NY/ | $112,497,604 | 1,341,653 | 3.00% | Shares |
| GREENHAVEN ASSOCIATES INC | $108,794,872 | 1,297,494 | 2.91% | Shares |
| EARNEST PARTNERS LLC | $108,711,609 | 1,296,501 | 2.90% | Shares |
| MILLENNIUM MANAGEMENT LLC | $93,951,242 | 1,120,468 | 2.51% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $86,944,652 | 1,036,907 | 2.32% | Shares |
| NORGES BANK | $78,111,390 | 931,561 | 2.09% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $64,755,259 | 772,275 | 1.73% | Shares |
| AMERIPRISE FINANCIAL INC | $55,513,565 | 662,058 | 1.48% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $53,569,000 | 638,872 | 1.43% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $51,411,537 | 613,137 | 1.37% | Shares |
| BARCLAYS PLC | $51,236,123 | 611,045 | 1.37% | Shares |
| GOLDMAN SACHS GROUP INC | $42,175,963 | 502,993 | 1.13% | Shares |
| GRS Advisors, LLC | $38,455,706 | 458,625 | 1.03% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $36,999,651 | 441,260 | 0.99% | Shares |
| Callodine Capital Management, LP | $36,894,000 | 440,000 | 0.99% | Shares |
| WELLS FARGO & COMPANY/MN | $32,597,442 | 388,759 | 0.87% | Shares |
| ALGERT GLOBAL LLC | $29,860,746 | 356,121 | 0.80% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $25,641,078 | 305,797 | 0.68% | Shares |
| BlackRock, Inc. | $25,564,859 | 304,888 | 0.68% | Shares |
| Balyasny Asset Management L.P. | $22,917,630 | 273,317 | 0.61% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $22,406,177 | 267,223 | 0.60% | Shares |
| TWO SIGMA ADVISERS, LP | $20,898,080 | 317,600 | 0.56% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $20,888,963 | 249,123 | 0.56% | Shares |
| Walleye Capital LLC | $19,896,850 | 237,291 | 0.53% | Shares |
| Public Sector Pension Investment Board | $19,223,786 | 229,264 | 0.51% | Shares |
| Lodge Hill Capital, LLC | $19,084,260 | 227,600 | 0.51% | Shares |
| MetLife Investment Management, LLC | $18,821,139 | 224,462 | 0.50% | Shares |
| BANK OF AMERICA CORP /DE/ | $18,705,174 | 223,079 | 0.50% | Shares |
| Atlas FRM LLC | $18,447,000 | 220,000 | 0.49% | Shares |
| Squarepoint Ops LLC | $18,235,027 | 217,472 | 0.49% | Shares |
| MIZUHO MARKETS AMERICAS LLC | $16,969,647 | 202,381 | 0.45% | Shares |
| Qube Research & Technologies Ltd | $16,809,913 | 200,476 | 0.45% | Shares |
| D. E. Shaw & Co., Inc. | $16,626,700 | 198,291 | 0.44% | Shares |
| FRANKLIN RESOURCES INC | $15,341,867 | 182,968 | 0.41% | Shares |
| RHUMBLINE ADVISERS | $14,412,953 | 171,890 | 0.38% | Shares |
| HSBC HOLDINGS PLC | $14,001,398 | 165,972 | 0.37% | Shares |
| Baird Financial Group, Inc. | $12,748,267 | 152,036 | 0.34% | Shares |
| California Public Employees Retirement System | $12,630,242 | 150,629 | 0.34% | Shares |
| Trexquant Investment LP | $12,575,236 | 149,973 | 0.34% | Shares |
| SCHWERIN BOYLE CAPITAL MANAGEMENT INC | $11,942,169 | 142,423 | 0.32% | Shares |
| AMERICAN CENTURY COMPANIES INC | $11,931,630 | 142,297 | 0.32% | Shares |
| Swiss National Bank | $10,942,425 | 130,500 | 0.29% | Shares |
| Sone Capital Management, LLC | $10,746,887 | 128,168 | 0.29% | Shares |
| Rafferty Asset Management, LLC | $10,677,711 | 127,343 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $10,660,102 | 127,133 | 0.28% | Shares |
| Brandywine Global Investment Management, LLC | $10,614,066 | 161,308 | 0.28% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $10,608,283 | 126,515 | 0.28% | Shares |
| Mesirow Institutional Investment Management, Inc. | $10,360,238 | 67,353 | 0.28% | Shares |
| Security National Bank | $10,355,475 | 123,500 | 0.28% | Shares |
| Aberdeen Group plc | $10,070,385 | 120,100 | 0.27% | Shares |
| Freestone Grove Partners LP | $9,347,514 | 111,479 | 0.25% | Shares |
| FIRST TRUST ADVISORS LP | $9,052,949 | 107,966 | 0.24% | Shares |
| Impax Asset Management Group plc | $8,968,680 | 106,961 | 0.24% | Shares |
| Legal & General Group Plc | $8,567,960 | 102,182 | 0.23% | Shares |
| Clearbridge Investments, LLC | $7,882,119 | 94,003 | 0.21% | Shares |
| 1492 Capital Management LLC | $7,056,648 | 84,158 | 0.19% | Shares |
| EASTERLY INVESTMENT PARTNERS LLC | $6,562,353 | 78,263 | 0.18% | Shares |
| PRUDENTIAL FINANCIAL INC | $6,522,356 | 77,786 | 0.17% | Shares |
| Swedbank AB | $6,312,228 | 75,280 | 0.17% | Shares |
| FIFTH THIRD BANCORP | $6,210,044 | 74,061 | 0.17% | Shares |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC | $6,188,130 | 73,800 | 0.17% | Shares |
| DEUTSCHE BANK AG\ | $6,022,275 | 71,822 | 0.16% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $5,680,252 | 67,743 | 0.15% | Shares |
| Phase 2 Partners, LLC | $5,450,766 | 35,436 | 0.15% | Shares |
| ALLIANCEBERNSTEIN L.P. | $5,402,157 | 87,357 | 0.14% | Shares |
| Ceredex Value Advisors LLC | $5,387,363 | 64,250 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $5,344,683 | 63,741 | 0.14% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $5,187,881 | 83,892 | 0.14% | Shares |
| ENGLISH CAPITAL MANAGEMENT LLC | $5,150,558 | 63,298 | 0.14% | Shares |
| SummitTX Capital, L.P. | $5,125,667 | 61,129 | 0.14% | Shares |
| ALPS ADVISORS INC | $5,055,484 | 60,292 | 0.14% | Shares |
| ExodusPoint Capital Management, LP | $4,899,356 | 58,430 | 0.13% | Shares |
| Pictet Asset Management Holding SA | $4,827,748 | 57,576 | 0.13% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $4,514,400 | 53,839 | 0.12% | Shares |
| Holocene Advisors, LP | $4,188,056 | 49,947 | 0.11% | Shares |
| Sepio Capital, LP | $3,974,071 | 47,395 | 0.11% | Shares |
| Assenagon Asset Management S.A. | $3,960,655 | 47,235 | 0.11% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $3,700,720 | 44,135 | 0.10% | Shares |
| CITADEL ADVISORS LLC | $3,655,860 | 43,600 | 0.10% | Put option |
| Grantham, Mayo, Van Otterloo & Co. LLC | $3,554,485 | 42,391 | 0.09% | Shares |
| Walleye Trading LLC | $3,513,315 | 41,900 | 0.09% | Call option |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | $3,406,742 | 40,629 | 0.09% | Shares |
| Cubist Systematic Strategies, LLC | $3,393,264 | 46,849 | 0.09% | Shares |
| Atom Investors LP | $3,309,308 | 39,467 | 0.09% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $3,220,618 | 42,657 | 0.09% | Shares |
| CAXTON ASSOCIATES LLP | $3,185,965 | 37,996 | 0.09% | Shares |
| Moody Aldrich Partners LLC | $3,026,901 | 36,099 | 0.08% | Shares |
| D L CARLSON INVESTMENT GROUP INC | $3,014,408 | 35,950 | 0.08% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,968,290 | 35,400 | 0.08% | Call option |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,952,610 | 35,213 | 0.08% | Shares |
| Vanguard Global Advisers, LLC | $2,770,488 | 33,041 | 0.07% | Shares |
| Illinois Municipal Retirement Fund | $2,751,705 | 32,817 | 0.07% | Shares |
Company insiders 30 insiders · 13 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Phillippe Lord | Chief Executive Officer | March 23, 2026 A | 118,613 | 0 | 5 | $-3,466,958 |
| Hilla Sferruzza | EVP- Chief Financial Officer | March 23, 2026 A | 38,185 | 0 | 3 | $-834,329 |
| Larry Wayne Seay | Executive VP - CFO | Feb. 17, 2016 S | 73,796 | 0 | 0 | $0 |
| Clinton Szubinski | EVP - Chief Operating Officer | March 3, 2025 S | 47,784 | 0 | 0 | $0 |
| Steven M Davis | Exec VP - COO | Feb. 18, 2015 G | 38,799 | 0 | 0 | $0 |
| Alison Sasser | SVP - Chief Accounting Officer | May 12, 2026 S | 7,634 | 0 | 4 | $-157,045 |
| Steven J Hilton | Executive Chairman | May 12, 2026 G | 841,603 | 0 | 2 | $-368,107 |
| Austin M Woffinden | EVP, Corp. Ops & Strategy | March 23, 2026 A | 15,506 | 0 | 3 | $-82,949 |
| Malissia Clinton | EVP - Gen. Counsel, Secretary | March 23, 2026 A | 20,167 | 0 | 3 | $-394,617 |
| Javier Feliciano | EVP Chief People Officer | March 23, 2026 A | 18,456 | 0 | 3 | $-272,931 |
| Timothy C White | EVP - Gen. Counsel, Secretary | Dec. 15, 2021 A | 42,267 | 0 | 0 | $0 |
| Vicki L Biggs | Vice President - Controller | Dec. 11, 2007 A | 13,479 | 0 | 0 | $0 |
| Sandra R Karrmann | EVP - Chief HR Officer | Aug. 17, 2007 D | 0 | 0 | 0 | $0 |
| Joseph Keough | Director | Feb. 19, 2026 A | 3,100 | 0 | 0 | $0 |
| Kelly P. Mooney | Director | Feb. 19, 2026 A | 3,100 | 0 | 0 | $0 |
| Erin N Lantz | Director | Feb. 19, 2026 A | 3,100 | 0 | 0 | $0 |
| Geisha J Williams | Director | Feb. 19, 2026 A | 3,100 | 0 | 0 | $0 |
| Odell R. Michael | Director | Feb. 19, 2026 A | 9,300 | 0 | 0 | $0 |
| Deborah A Henretta | Director | Feb. 19, 2026 A | 9,300 | 0 | 0 | $0 |
| Dana Bradford | Director | Feb. 19, 2026 A | 9,300 | 0 | 0 | $0 |
| Louis E Caldera | Director | Feb. 19, 2026 A | 3,100 | 0 | 0 | $0 |
| Peter L Ax | Director | Feb. 19, 2026 A | 9,300 | 0 | 0 | $0 |
| Dennis V Arriola | Director | July 25, 2025 P | 9,512 | 0 | 0 | $0 |
| Raymond Oppel | Director | Feb. 22, 2024 A | 6,100 | 0 | 0 | $0 |
| Gerald W Haddock | Director | April 28, 2023 S | 6,000 | 0 | 0 | $0 |
| Robert Gary Sarver | Director | Feb. 12, 2019 A | 19,500 | 0 | 0 | $0 |
| BURKE RICHARD T | Director | Feb. 12, 2019 A | 19,500 | 0 | 0 | $0 |
| John R Landon | Director | June 13, 2006 M | 1,103,136 | 0 | 0 | $0 |
| William G Campbell | Director | June 2, 2006 A | 500 | 0 | 0 | $0 |
| Richard T Morgan | Vice President-Treasurer | May 25, 2006 S | 304 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| McCarthy Group, LLC, MGI Holdings, Inc., McCarthy Capital Corporation, Fulcrum Growth Partners II, L.P., Fulcrum GP, L.L.C., Fulcrum Growth Partners III, L.L.C., Fulcrum Homes, LLC, Fulcrum Real Estate, LLC, Michael R. McCarthy, Dana C. Bradford, Southwest Value Partners Fund XIV, LP, SWVP Fund XIV GP, LLC, Southwest Value Partners, LLC, SWVP XIV, LLC, SWVP XIV Management Co., Inc., Robert G. Sarver, Mark A. Schlossberg ×4 filings | May 15, 2012 | — | Initial filing | — | SEC |
| Steven J. Hilton ×3 filings | Feb. 10, 2010 | — | Initial filing | Passive investment | SEC |
| John R. Landon, Eleanor Landon | June 29, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Oct. 5, 2001 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 85 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ITB · iShares Trust | 2.04% | 656,904 SH | Aug. 8, 2026 | Daily |
| PSCD · Invesco Exchange-Traded Fund Trust … | 1.89% | 6,203 SH | Aug. 8, 2026 | Daily |
| HOMZ · ETF Series Solutions | 1.49% | 7,738 NS | May 31, 2026 | N-PORT |
| NAIL · Direxion Shares ETF Trust | 1.32% | 110,646 NS | April 30, 2026 | N-PORT |
| RNIN · EA Series Trust | 1.27% | 28,882 NS | April 30, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.77% | 24,644 NS | April 30, 2026 | N-PORT |
| ERTH · Invesco Exchange-Traded Fund Trust | 0.69% | 12,812 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.60% | 141,537 SH | Aug. 8, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.53% | 897 NS | April 30, 2026 | N-PORT |
| IJS · iShares Trust | 0.52% | 594,075 SH | Aug. 8, 2026 | Daily |
| OUSM · ALPS ETF Trust | 0.42% | 56,766 NS | May 31, 2026 | N-PORT |
| RZV · Invesco Exchange-Traded Fund Trust | 0.40% | 16,354 SH | Aug. 8, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.37% | 73,562 NS | April 30, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.37% | 103,010 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.36% | 58,345 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.31% | 618,908 SH | Aug. 8, 2026 | Daily |
| XJR · iShares Trust | 0.30% | 7,882 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.30% | 233,262 SH | Aug. 8, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.29% | 9,882 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.26% | 4,066,683 SH | Aug. 8, 2026 | Daily |
| GMOV · GMO ETF Trust | 0.23% | 3,238 NS | May 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.23% | 4,763 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.22% | 95,817 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.22% | 1,077 NS | May 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.22% | 242,529 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.21% | 2,575 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.19% | 799 NS | May 31, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.17% | 16,702 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.17% | 384,126 SH | Aug. 8, 2026 | Daily |
| VCR · VANGUARD WORLD FUND | 0.16% | 133,941 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.15% | 1,682,285 SH | Aug. 8, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | 0.14% | 34,307 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.14% | 13,951 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.14% | 29,260 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.11% | 3,175 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.11% | 923,114 SH | Aug. 8, 2026 | Daily |
| FDIS · FIDELITY COVINGTON TRUST | 0.10% | 26,073 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.09% | 37,643 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.09% | 320,527 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.09% | 185,725 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 27,542 NS | April 30, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.08% | 95,000 | Aug. 8, 2026 | Daily |
| SCHM · SCHWAB STRATEGIC TRUST | 0.08% | 180,825 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.07% | 2,823 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.07% | 2,482 NS | May 31, 2026 | N-PORT |
| EEMS · iShares, Inc. | 0.06% | 35,151 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.06% | 9,306 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.06% | 764,739 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.06% | 1,453,425 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.05% | 2,510 NS | May 31, 2026 | N-PORT |