A Business at a Glance
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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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 33.5B | 34.3B | 36.8B | 35.5B | 33.5B | 27.8B |
| Net Income | 3.3B | 3.6B | 4.8B | 4.7B | 5.9B | 4.2B |
| EPS | $10.99 | $11.57 | $14.34 | $13.82 | $16.51 | $11.41 |
| Free Cash Flow | 3.5B | 3.3B | 2.0B | 4.2B | 414M | 441M |
| ROIC | 0.0% | 15.5% | 21.5% | 23.7% | 28.8% | 30.2% |
| Gross Margin | 23.3% | 23.7% | 25.9% | 26.4% | 31.4% | 28.4% |
| Debt/Equity | 0.23 | 0.25 | 0.23 | 0.22 | 0.31 | 0.36 |
| Dividends/Share | $1.72 | $1.60 | $1.20 | $1.00 | $0.90 | $0.80 |
| Operating Income | 0 | 4.7B | 6.2B | 6.3B | 7.6B | 5.4B |
| Operating Margin | 0.0% | 13.7% | 16.9% | 17.7% | 22.7% | 19.3% |
| ROE | 13.9% | 14.5% | 18.8% | 20.9% | 30.2% | 28.1% |
| Shares Outstanding | 290M | 310M | 332M | 343M | 355M | 366M |
HORTON D R INC /DE/ passes 7 of 9 quality checks, indicating strong fundamentals.
HORTON D R INC /DE/ trades at 13.1x trailing earnings, compared to its 15-year median P/E of 11.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.0x vs a median of 27.3x. The company's 5-year average ROIC is 23.9% with a gross margin of 27.1%. Total shareholder yield (dividends + buybacks) is 10.5%. At current prices, the estimated annualized return to fair value is +34.7%.
HORTON D R INC /DE/ (DHI) has a current P/E ratio of 13.1, compared to its historical median P/E of 11.2. The stock is currently considered Fair based on its historical valuation range.
HORTON D R INC /DE/ (DHI) has a 5-year average return on invested capital (ROIC) of 23.9%. This indicates strong capital allocation and a potential competitive advantage.
HORTON D R INC /DE/ (DHI) has a market capitalization of $41.8B. It is classified as a large-cap stock.
Yes, HORTON D R INC /DE/ (DHI) pays a dividend with a trailing twelve-month yield of 1.19%. The company also returns capital through share buybacks, with a buyback yield of 9.27%.
Based on historical P/E analysis, HORTON D R INC /DE/ (DHI) appears fair. The current P/E of 13.1 is 18% above its historical median of 11.2. The estimated fair value CAGR (P/E method) is 22.0%.
HORTON D R INC /DE/ (DHI) operates in the Operative Builders industry, within the Industrials sector.
HORTON D R INC /DE/ (DHI) reported annual revenue of $34.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
HORTON D R INC /DE/ (DHI) has a net profit margin of 10.5%. This is a healthy margin.
HORTON D R INC /DE/ (DHI) generated $3.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HORTON D R INC /DE/ (DHI) has a debt-to-equity ratio of 0.25. This indicates a conservatively financed balance sheet.
HORTON D R INC /DE/ (DHI) reported earnings per share (EPS) of $11.57 in its most recent fiscal year.
HORTON D R INC /DE/ (DHI) has a return on equity (ROE) of 14.5%. This indicates moderate shareholder returns.
HORTON D R INC /DE/ (DHI) has a 5-year average gross margin of 27.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for HORTON D R INC /DE/ (DHI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HORTON D R INC /DE/ (DHI) has a book value per share of $78.07, based on its most recent annual SEC filing.
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