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D.R. Horton, Inc.

D.R. Horton, Inc.

NYSE•DHI
CEO: Mr. David V. Auld
Sector: Consumer Cyclical
Industry: Residential Construction
Listing Date: 1992-06-05
D.R. Horton, Inc. operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 125 markets across 36 states under the names of D.R. Horton. The company constructs and sells single-family detached homes; and attached homes, such as townhomes, duplexes, and triplexes. It provides mortgage financing services; and title insurance policies, and examination and closing services, as well as engages in the residential lot development business. In addition, the company develops, constructs, owns, leases, and sells multi-family and single-family rental properties; and owns non-residential real estate, including ranch land and improvements. It primarily serves homebuyers. D.R. Horton, Inc. was founded in 1978 and is headquartered in Arlington, Texas.
Contact Information
1341 Horton Circle, Arlington, TX, 76011, United States
817-390-8200
www.drhorton.com
Market Cap
$43.79B
P/E (TTM)
13.2
13.6
Dividend Yield
1.1%
52W High
$184.55
52W Low
$110.44
52W Range
54%
Rank26Top 13.0%
5.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$6.89B-9.54%
4-Quarter Trend

EPS

$2.03-22.81%
4-Quarter Trend

FCF

$826.60M+27.82%
4-Quarter Trend

2026 Q1 Earnings Highlights

Key Highlights

Consolidated Revenue Decline Consolidated revenues fell 10% to $6.89B USD compared to $7.61B USD last year, driven by home sales contraction.
Homebuilding Margins Squeezed Home sales gross margin dropped 230 basis points to 20.4% due to higher costs and increased sales incentives usage.
Strong Operating Cash Flow Operating cash flow increased significantly to $854.0M USD, up from $646.7M USD prior period, supporting liquidity.
Financial Services Profit Growth Financial services pre-tax income grew 19% to $58.0M USD, driven by mortgage operations revenue increase and better expense control.

Risk Factors

Home Sales Volume Down Homes closed decreased 7% to 17,818 units, reflecting ongoing affordability constraints and cautious consumer sentiment impacting demand.
Inventory Cost Pressure Home sales gross profit margin compressed as average cost of homes closed increased more than the average selling price.
Rental Revenue Halved Rental segment revenues dropped 50% to $109.5M USD due to a significant decrease in multi-family unit closings this quarter.
Forestar Lot Sales Slowed Forestar lots sold decreased 17% to 1,944 units, while pre-tax income slightly declined to $20.8M USD.

Outlook

Incentives Remain Elevated Expect incentive levels to stay elevated through fiscal 2026, depending on market conditions and future changes in mortgage interest rates.
Prioritize Finished Lot Supply Continue prioritizing purchase of finished lots from Forestar and other developers to maximize returns and capital efficiency.
Strong Liquidity Maintained Strong balance sheet and liquidity provide flexibility to operate effectively through changing economic conditions and fund growth.
SK Builders Acquisition Closed Acquired SK Builders for $80.0M cash in October 2025, adding 160 homes in inventory and 110 units in backlog.

Peer Comparison

Revenue (TTM)

Ford Motor CompanyF
$189.59B
+3.7%
JD.com, Inc.JD
$180.81B
+16.6%
Lennar CorporationLEN
$34.17B
-3.6%

Gross Margin (Latest Quarter)

Trip.com Group LimitedTCOM
81.7%
-0.7pp
eBay Inc.EBAY
70.9%
-0.9pp
Copart, Inc.CPRT
46.5%
+1.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ROST$60.65B28.936.8%33.7%
F$54.79B11.810.3%54.6%
DHI$43.79B13.213.8%16.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-3.8%
Flat Growth
4Q Net Income CAGR
-9.8%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Apr 15, 2026
|
EPS:-
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q1 2026

    Period End: Dec 31, 2025|Filed: Jan 22, 2026|
    Revenue: $6.89B-9.5%
    |
    EPS: $2.03-22.8%
    Beat

  • Form 10-K - FY 2025

    Period End: Sep 30, 2025|Filed: Nov 19, 2025|
    Revenue: $34.25B-6.9%
    |
    EPS: $11.62-19.5%
    Beat

  • Form 10-Q - Q3 2025

    Period End: Jun 30, 2025|Filed: Jul 23, 2025|
    Revenue: $9.23B-7.4%
    |
    EPS: $3.34-18.9%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Mar 31, 2025|Filed: Apr 23, 2025|
    Revenue: $7.73B-15.1%
    |
    EPS: $2.59-26.8%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Dec 31, 2024|Filed: Jan 23, 2025|
    Revenue: $7.61B-1.5%
    |
    EPS: $2.63-7.4%
    Beat

  • Form 10-K - FY 2024

    Period End: Sep 30, 2024|Filed: Nov 19, 2024|
    Revenue: $36.80B+3.8%
    |
    EPS: $14.44+3.7%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Jun 30, 2024|Filed: Jul 23, 2024|
    Revenue: $9.97B+2.5%
    |
    EPS: $4.12+4.8%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Mar 31, 2024|Filed: Apr 23, 2024|
    Revenue: $9.11B+14.2%
    |
    EPS: $3.54+28.7%
    Beat