Overview
HORTON D R INC /DE/
Latest 10-K: FY2025, filed Nov 19, 2025 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $34.25B
- 6.9%YoYdown from FY2024
- TotalRevenue
- Gross profit
- $8.12B
- 14.9%YoYdown from FY2024
- GrossProfit
- Net income
- $3.59B
- 24.6%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $11.57
- 19.3%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 309.9M
- 6.5%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- HORTON D R INC /DE/ reported revenue of $34.25B for fiscal 2025, down 6.9% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 3 of the last 5 fiscal years.
Profitability
- Net margin was 10.5%, against a median of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $11.57, down 19.3% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $34.25B6.9%down Benchmark median 6.4% | $36.80B3.8%up Benchmark median 4.5% | $35.46B5.9%up Benchmark median 4.8% | $33.48B20.5%up Benchmark median 10.3% | $27.77B36.7%up Benchmark median 13.8% | 5.4% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $8.12B14.9%down Benchmark median 6.8% | $9.54B2.0%up Benchmark median 5.5% | $9.35B11.0%down Benchmark median 5.2% | $10.50B33.4%up Benchmark median 8.3% | $7.88B59.5%up Benchmark median 15.7% | 0.8% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | — | — | — | — | — | — Benchmark median 7.2% |
| Net Income | $3.59B24.6%down Benchmark median 4.8% | $4.76B0.2%up Benchmark median 5.7% | $4.75B19.0%down Benchmark median 1.9% | $5.86B40.3%up Benchmark median 1.3% | $4.18B75.9%up Benchmark median 33.9% | -3.7% Benchmark median 4.1% |
| EPS (Diluted) | $11.5719.3%down Benchmark median 6.2% | $14.343.8%up Benchmark median 7.9% | $13.8216.3%down Benchmark median 1.9% | $16.5144.7%up Benchmark median 1.5% | $11.4178.0%up Benchmark median 34.8% | 0.3% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $35.47B1.8%down Benchmark median 5.6% | $36.10B10.8%up Benchmark median 3.4% | $32.58B7.4%up Benchmark median 4.1% | $30.35B26.4%up Benchmark median 2.2% | $24.02B27.0%up Benchmark median 6.7% | 10.2% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $10.73B4.4%up Benchmark median 6.4% | $10.28B8.8%up Benchmark median 1.9% | $9.44B10.6%down Benchmark median 2.9% | $10.57B20.1%up Benchmark median 2.0% | $8.80B29.6%up Benchmark median 5.2% | 5.1% Benchmark median 4.4% |
| Stockholders' Equity | $24.74B4.2%down Benchmark median 6.8% | $25.82B11.6%up Benchmark median 5.4% | $23.14B16.9%up Benchmark median 7.3% | $19.79B30.0%up Benchmark median 2.5% | $15.22B25.5%up Benchmark median 9.0% | 12.9% Benchmark median 6.1% |
| Cash & Equivalents | $2.99B33.9%down Benchmark median 5.2% | $4.52B16.6%up Benchmark median 1.9% | $3.87B52.5%up Benchmark median 6.7% | $2.54B20.9%down Benchmark median -8.6% | $3.21B6.4%up Benchmark median -2.9% | -1.8% Benchmark median 2.0% |
| Total Debt | — | — | — | — | — | — Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.42B56.2%up Benchmark median 6.3% | $2.19B49.1%down Benchmark median 4.8% | $4.30B666.1%up Benchmark median 9.9% | $0.56B5.1%up Benchmark median -0.7% | $0.53B62.4%down Benchmark median 10.7% | 59.1% Benchmark median 7.0% |
| Capital Expenditures | $137.40M16.9%down Benchmark median 5.4% | $165.30M11.2%up Benchmark median 2.8% | $148.60M0.3%up Benchmark median 11.3% | $148.20M58.5%up Benchmark median 14.0% | $93.50M3.1%down Benchmark median 8.1% | 10.1% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $3.28B62.2%up Benchmark median 7.3% | $2.02B51.3%down Benchmark median 6.1% | $4.16B904.7%up Benchmark median 8.8% | $0.41B6.2%down Benchmark median -11.3% | $0.44B66.7%down Benchmark median 10.2% | 65.2% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
6.8%
Wall Street
on net earnings
FY2024 7.5%
6.3%
Value investor
on free cash flow
FY2024 3.2%
Gap −0.5 pts: Value-investor figure 0.5 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 14.6×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
47.1%
Wall Street
on book equity
FY2024 40.8%
46.8%
Value investor
on tangible book
FY2024 40.6%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 2.1×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
14.2%
Wall Street
ROE: net income ÷ equity
FY2024 19.4%
— Not reported
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 — Not reported
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
— Not reported
Wall Street
EBITDA margin
FY2024 — Not reported
9.6%
Value investor
Free-cash-flow margin
FY2024 5.5%
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on DHI yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on DHI and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/DHI
Valuein. (2026, October 31). HORTON D R INC /DE/ (DHI) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/DHI
@misc{valuein_dhi_2026,
author = {{Valuein}},
title = {HORTON D R INC /DE/ (DHI) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/DHI}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Nov 19, 2025 · accession 0000882184-25-000081
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point-in-time · survivorship-free · every number traceable to its SEC filing
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