D 
D.R. Horton DHI · USD
Consumer Discretionary · Household Durables · US listing · 🇺🇸 United States
S&P 500
155.61
+2.19%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$34.25bn
FY2016FY2025
Net income
$3.59bn
FY2016FY2025
Free cash flow
$3.28bn
FY2016FY2025
Shareholders' equity
$24.19bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.25bn | $36.80bn | $35.46bn | $33.48bn | $27.77bn | $20.31bn | $17.59bn | $16.07bn | $14.09bn | $12.16bn |
| Gross profit | $8.12bn | $9.54bn | $9.35bn | $10.50bn | $7.88bn | $4.94bn | $3.87bn | $3.67bn | $3.05bn | $2.65bn |
| Operating income | $4.42bn | $6.11bn | $6.24bn | $7.71bn | $5.39bn | $2.95bn | $2.05bn | $2.04bn | $1.66bn | $1.38bn |
| Net income | $3.59bn | $4.76bn | $4.75bn | $5.86bn | $4.18bn | $2.37bn | $1.62bn | $1.46bn | $1.04bn | $886.3m |
| Diluted earnings per share | 12.22 | 14.69 | 14.14 | 16.89 | 11.60 | 6.42 | 4.33 | 3.84 | 2.71 | 2.35 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $35.47bn | $36.10bn | $32.58bn | $30.35bn | $24.02bn | $18.91bn | $15.61bn | $14.11bn | $12.18bn | $11.56bn |
| Cash and short-term investments | $2.99bn | $4.52bn | $3.87bn | $2.54bn | $3.21bn | $3.02bn | $1.49bn | $1.47bn | $1.01bn | $1.30bn |
| Total liabilities | $10.73bn | $10.28bn | $9.44bn | $10.57bn | $8.80bn | $6.79bn | $5.31bn | $4.96bn | $4.44bn | $4.77bn |
| Debt | $5.97bn | $5.92bn | $5.09bn | $6.07bn | $5.41bn | $4.28bn | $3.40bn | $3.20bn | $2.87bn | $3.27bn |
| Shareholders' equity | $24.19bn | $25.31bn | $23.14bn | $19.79bn | $15.22bn | $12.12bn | $10.30bn | $9.16bn | $7.75bn | $6.79bn |
| Shares outstanding | 293m | 324m | 336m | 347m | 360m | 370m | 373m | 380m | 384m | 377m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $3.42bn | $2.19bn | $4.30bn | $561.8m | $534.4m | $1.42bn | $892.1m | $545.2m | $435.1m | $618.0m |
| Capital spending | −$137.4m | −$165.3m | −$148.6m | −$148.2m | −$267.4m | −$286.8m | −$224.1m | −$68.1m | −$157.3m | −$86.1m |
| Free cash flow | $3.28bn | $2.02bn | $4.16bn | $413.6m | $267.0m | $1.13bn | $668.0m | $477.1m | $277.8m | $531.9m |
| Dividends paid | −$494.8m | −$395.2m | −$341.2m | −$316.5m | −$289.3m | −$256.0m | −$223.4m | −$188.4m | −$149.6m | −$118.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.23bn | $7.56bn | $6.89bn | $9.68bn | $9.23bn | $7.73bn | $7.61bn | $10.00bn |
| Gross profit | $2.15bn | $1.70bn | $1.59bn | $2.10bn | $2.21bn | $1.90bn | $1.91bn | $2.55bn |
| Operating income | $1.23bn | $800.0m | $729.6m | $1.13bn | $1.26bn | $1.00bn | $1.03bn | $1.66bn |
| Net income | $904.9m | $647.9m | $594.8m | $905.3m | $1.02bn | $810.4m | $844.9m | $1.28bn |
| Diluted earnings per share | 3.14 | 2.25 | 2.03 | 3.09 | 3.49 | 2.76 | 2.61 | 3.96 |
| Cash from operations | $439.0m | −$412.0m | $854.0m | $2.47bn | $738.0m | −$436.0m | $646.0m | $1.96bn |
| Capital spending | −$64.0m | −$37.0m | −$27.0m | −$43.0m | −$46.0m | −$34.0m | −$13.0m | −$32.0m |
| Free cash flow | $375.0m | −$449.0m | $827.0m | $2.43bn | $692.0m | −$470.0m | $633.0m | $1.93bn |
| Total assets | $36.51bn | $35.57bn | $34.64bn | $35.47bn | $36.40bn | $35.69bn | $35.03bn | $36.10bn |
| Cash and short-term investments | $2.08bn | $1.92bn | $2.51bn | $2.99bn | $2.61bn | $2.47bn | $3.05bn | $4.52bn |
| Debt | $7.11bn | $6.56bn | $6.31bn | $10.35bn | $5.84bn | $11.44bn | $9.25bn | $4.31bn |
| Shareholders' equity | $23.82bn | $23.63bn | $24.00bn | $24.19bn | $24.05bn | $24.33bn | $24.94bn | $25.31bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.8% | 11.0% | 12.2% |
| Operating income | -16.9% | 8.4% | 14.5% |
| Net income | -15.1% | 8.6% | 16.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.8% | 26.8% | 26.8% | 25.4% |
| Operating margin | 14.8% | 17.5% | 17.5% | 15.9% |
| Net margin | 11.7% | 13.5% | 13.6% | 12.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 11.8 | 9.5 | 10.8 | 5.3 | 9.3 | 10.7 | 12.2 | 9.0 | 18.9 | 11.6 |
| Price to sales | 1.2 | 1.2 | 1.4 | 0.9 | 1.4 | 1.3 | 1.1 | 0.8 | 1.4 | 0.8 |
Market value over time
31 Oct 2016 to 18 Sept 2026, in USD
$10.81bn$39.80bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 7% | -6% | 71% | -13% | 40% | 35% | 53% | -31% | 81% | -8% |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 6 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.80 | 1.60 | 1.20 | 1.00 | 0.90 | 0.80 | 0.70 | 0.60 |
- 4-for-3 split · 17 Mar 2005
- 3-for-2 split · 13 Jan 2004
- 3-for-2 split · 10 Apr 2002
- 1.11-for-1 split · 7 Mar 2001
- 1.09-for-1 split · 14 Sept 2000
- 27-for-25 split · 6 May 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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