HORTON D R INC /DE/ DHI

Industrials SIC 1531 - Operative Builders NAICS Construction › Construction of Buildings › Residential Building Construction derived NYSE

D.R. Horton, Inc. is the largest homebuilding company in the United States as measured by number of homes closed. We construct and sell homes through our operating divisions in 126 markets across 36 states. Our common stock is included in the S&P 500 Index and listed on the New York Stock Exchange (NYSE) and NYSE Texas under the ticker symbol "DHI." Our listing on NYSE Texas became effective in June 2025. Unless the context otherwise requires, the terms "D.R. Horton," the "Company," "we" and "our" used herein refer to D.R. Horton, Inc., a Delaware corporation, and its predecessors and subsidiaries.

Our homebuilding business began in 1978 in Fort Worth, Texas, and our common stock has been publicly traded since 1992. We have expanded and diversified our homebuilding operations geographically over the years by investing capital and building teams of people in our existing markets, starting new operations in additional markets and acquiring other homebuilding companies. We have closed more than 1.2 million homes during our 47-year history, and we have been the largest volume homebuilder in the United States every year since 2002.

Last close 147.48 2026-10-23
Market cap $41.25B 2026-06-30 share count
52-week range 130.40 - 170.78

Valuation FY2025 figures against the last close

P/S1.2x
P/E12.7x
P/FCF12.6x
EV/EBITDA—
Dividend yield1.2%
Diluted EPS11.57

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $34.25B$36.80B$35.46B$33.48B$27.77B$20.31B$17.59B$16.07B$14.09B$12.16B
Cost of revenue $26.13B$27.27B$26.11B$22.98B$19.90B$15.37B$13.72B$12.40B$11.04B$9.50B
Gross profit $8.12B$9.54B$9.35B$10.50B$7.88B$4.94B$3.87B$3.67B$3.05B$2.65B
SG&A $3.69B$3.60B$3.25B$2.93B$2.56B$2.05B$1.83B$1.68B$1.47B$1.32B
Interest expense ———————$0——
Pre-tax income $4.74B$6.28B$6.31B$7.63B$5.36B$2.98B$2.13B$2.06B$1.60B$1.35B
Income tax $1.12B$1.48B$1.52B$1.73B$1.17B$602.5M$506.7M$597.7M$563.7M$467.2M
Net income $3.59B$4.76B$4.75B$5.86B$4.18B$2.37B$1.62B$1.46B$1.04B$886.3M
EPS, basic 11.6214.4413.9316.6511.566.494.343.882.772.39
EPS, diluted 11.5714.3413.8216.5111.416.414.293.812.742.36
Shares, diluted (wtd. avg.) 309.9M331.6M343.3M354.8M365.8M370.2M377.4M383.4M378.9M375.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.99B$4.52B$3.90B$2.57B$3.24B$3.04B$1.51B$1.51B$1.02B$1.31B
Property, plant and equipment $578.9M$531.0M$445.4M$471.6M$392.9M$683.7M$499.2M$401.1M$325.0M$195.4M
Goodwill $163.5M$163.5M$163.5M$163.5M$163.5M$163.5M$163.5M$109.2M$80.0M—
Total assets $35.47B$36.10B$32.58B$30.35B$24.02B$18.91B$15.61B$14.11B$12.18B$11.56B
Total liabilities $10.73B$10.28B$9.44B$10.57B$8.80B$6.79B$5.31B$4.96B$4.44B$4.77B
Retained earnings $31.04B$27.95B$23.59B$19.19B$13.64B$9.76B$7.64B$6.22B$4.95B$4.06B
Total equity $24.19B$25.31B$23.14B$19.79B$15.22B$12.12B$10.30B$9.16B$7.75B$6.79B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.42B$2.19B$4.30B$561.8M$534.4M$1.42B$892.1M$545.2M$440.2M$623.9M
Depreciation and amortisation $101.3M$87.1M$91.6M$81.4M$82.1M$90.6M$72.0M$62.4M$54.7M$61.0M
Stock-based compensation $131.0M$118.1M$111.2M$105.1M$91.4M$77.8M$73.2M$55.8M$59.2M$49.0M
Capital expenditure $137.4M$165.3M$148.6M$148.2M$93.5M$96.5M$127.2M$68.1M$102.7M$78.1M
Investing cash flow -$168.7M-$190.6M-$310.2M-$414.9M-$252.2M-$166.1M-$394.0M$19.0M-$164.0M-$112.6M
Financing cash flow -$4.76B-$1.36B-$2.67B-$811.2M-$85.1M$270.6M-$490.1M-$82.5M-$564.6M-$591.9M
Dividends paid $494.8M$395.2M$341.2M$316.5M$289.3M$256.0M$223.4M$188.4M$149.6M$118.7M
Buybacks $4.30B$1.80B$1.20B$1.10B$874.0M$360.4M$479.8M$127.5M$60.6M$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000882184-25-000081.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B 40B Revenue, FY2016: 12.2B Gross profit, FY2016: 2.7B Net income, FY2016: 886.3M Revenue, FY2017: 14.1B Gross profit, FY2017: 3B Net income, FY2017: 1B Revenue, FY2018: 16.1B Gross profit, FY2018: 3.7B Net income, FY2018: 1.5B Revenue, FY2019: 17.6B Gross profit, FY2019: 3.9B Net income, FY2019: 1.6B Revenue, FY2020: 20.3B Gross profit, FY2020: 4.9B Net income, FY2020: 2.4B Revenue, FY2021: 27.8B Gross profit, FY2021: 7.9B Net income, FY2021: 4.2B Revenue, FY2022: 33.5B Gross profit, FY2022: 10.5B Net income, FY2022: 5.9B Revenue, FY2023: 35.5B Gross profit, FY2023: 9.4B Net income, FY2023: 4.7B Revenue, FY2024: 36.8B Gross profit, FY2024: 9.5B Net income, FY2024: 4.8B Revenue, FY2025: 34.3B Gross profit, FY2025: 8.1B Net income, FY2025: 3.6B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $12.16B $14.09B $16.07B $17.59B $20.31B $27.77B $33.48B $35.46B $36.80B $34.25B
Gross profit $2.65B $3.05B $3.67B $3.87B $4.94B $7.88B $10.50B $9.35B $9.54B $8.12B
Net income $886.3M $1.04B $1.46B $1.62B $2.37B $4.18B $5.86B $4.75B $4.76B $3.59B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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