Meritage Homes stock trades at USD 64.37 as backlog shrinks

Meritage Homes Corporation (ISIN US59001A1025) traded at USD 64.37 on the New York Stock Exchange on September 22, 2026, according to the available market snapshot. The company had a market capitalization of USD 4.19 billion on the same date, while a recent operating review placed the central pressure point on backlog performance.

Backlog declines remain central

According to StockStory on September 22, 2026, Meritage Homes backlog had declined at an average annual rate of 27.6 percent over the previous two years. That comparison is the clearest quantified counterpoint to the USD 64.37 share price and makes order conversion more important than valuation alone.

The same September 22, 2026 review also reported that earnings per share had contracted by 7.7 percent annually over the previous five years. The two figures describe different time frames, but together they show a business facing pressure in both forward demand and longer-term earnings progression.

Valuation offers limited cushion

StockStory reported a forward price-to-earnings ratio of 11.7 times for MTH on September 22, 2026. The ratio is lower than the multiple often assigned to faster-growing builders, but the backlog comparison shows why a lower valuation can coexist with operating caution.

Meritage Homes specializes in designing and constructing energy-efficient single-family homes in the United States, according to the September 22, 2026 company description published by StockStory. For investors, the key numerical test is whether future backlog stabilization can interrupt the 27.6 percent decline recorded across the prior two years.

Stock holds at USD 64.37

Meritage Homes stock stood at USD 64.37 on the New York Stock Exchange as of September 22, 2026. The market capitalization was USD 4.19 billion, and the forward valuation was 11.7 times earnings on that date.

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