D.R. Horton, Inc. logo

D.R. Horton, Inc.

DHI

NYSEConsumer CyclicalResidential Construction

Regular session

$148.96

+$0.605 · +0.41%

Aug 24, 12:17 PM ET

DHI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

60

Fair Value

Momentum

43

Neutral

Sentiment

71

Bullish

Risk resilience

60

Moderate Risk

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Company profile

Company website

Established in Arlington, Texas, in 1978, D.R. Horton, Inc. operates as a prominent residential construction enterprise. The company's core business involves acquiring and preparing land, then constructing and marketing homes across a substantial portion of the United States. Its operations span 31 states and 98 distinct markets, covering the East, North, Southeast, South Central, Southwest, and Northwest regions. Under several well-known brand names, including D.R. Horton, America's Builder, Express Homes, Emerald Homes, and Freedom Homes, the firm develops diverse housing types. This includes both individual detached houses and attached residences such as townhomes, duplexes, and triplexes. Beyond its primary homebuilding activities, D.R. Horton offers a range of complementary services. These encompass providing mortgage financing to its clientele, as well as furnishing title insurance, examination, and closing services. The company is also engaged in the development of residential lots. Additionally, D.R. Horton's portfolio extends to the creation, ownership, leasing, and sale of multi-family and single-family rental properties. It also holds non-residential real estate, such as ranch land and related facilities, and manages assets within the energy sector. The company primarily caters to individuals purchasing new homes.

Industry
Residential Construction
Sector
Consumer Cyclical
Headquarters
US
CEO
Paul J. Romanowski
Listed since
Jun 5, 1992
Employees
14,341

Market position

Day range

Current $148.96

52-week range

Current $148.96

Open
$149.05
Previous close
$148.35
Volume
431.76K
0.18× average
Average volume
2.39M
Average daily volume
Market cap
41.66B USD
Beta
1.38
Market reference 1
50-day average
$151.69
-1.80% below average
200-day average
$149.76
-0.54% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
55.33B USD
P/E (TTM)
14.15×
P/B (TTM)
1.8×
P/S (TTM)
1.25×
EV / EBITDA
11.43×
Earnings yield
6.86%
Free cash flow yield
6.28%
Dividend yield
1.21%

Profitability & efficiency

Gross margin
22.61%
Operating margin
11.64%
Net margin
9.15%
Return on equity
14.82%
Return on assets
10.11%
Return on invested capital
10.09%

Financial health

Debt / equity
0.3×
Current ratio
17.39×
Altman Z-score
5.63
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends33%25%17%8%Gross margin, FY2021: 28.35%Gross margin, FY2022: 31.37%Gross margin, FY2023: 26.37%Gross margin, FY2024: 25.91%Gross margin, FY2025: 23.70%Operating margin, FY2021: 19.41%Operating margin, FY2022: 23.02%Operating margin, FY2023: 17.60%Operating margin, FY2024: 16.61%Operating margin, FY2025: 12.92%Net margin, FY2021: 15.03%Net margin, FY2022: 17.50%Net margin, FY2023: 13.38%Net margin, FY2024: 12.92%Net margin, FY2025: 10.47%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 28.35%. Gross margin FY2022 31.37%. Gross margin FY2023 26.37%. Gross margin FY2024 25.91%. Gross margin FY2025 23.70%. Operating margin FY2021 19.41%. Operating margin FY2022 23.02%. Operating margin FY2023 17.60%. Operating margin FY2024 16.61%. Operating margin FY2025 12.92%. Net margin FY2021 15.03%. Net margin FY2022 17.50%. Net margin FY2023 13.38%. Net margin FY2024 12.92%. Net margin FY2025 10.47%.

Income trends

Revenue

34.25B USD-6.93%

Operating income

4.42B USD-27.64%

Net income

3.59B USD-24.62%
Income trends across reported periods40.12B USD26.84B USD13.55B USD263.58M USDRevenue, FY2021: 27.77B USDRevenue, FY2022: 33.48B USDRevenue, FY2023: 35.46B USDRevenue, FY2024: 36.8B USDRevenue, FY2025: 34.25B USDOperating income, FY2021: 5.39B USDOperating income, FY2022: 7.71B USDOperating income, FY2023: 6.24B USDOperating income, FY2024: 6.11B USDOperating income, FY2025: 4.42B USDNet income, FY2021: 4.18B USDNet income, FY2022: 5.86B USDNet income, FY2023: 4.75B USDNet income, FY2024: 4.76B USDNet income, FY2025: 3.59B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 27.77B USD. Revenue FY2022 33.48B USD. Revenue FY2023 35.46B USD. Revenue FY2024 36.8B USD. Revenue FY2025 34.25B USD. Operating income FY2021 5.39B USD. Operating income FY2022 7.71B USD. Operating income FY2023 6.24B USD. Operating income FY2024 6.11B USD. Operating income FY2025 4.42B USD. Net income FY2021 4.18B USD. Net income FY2022 5.86B USD. Net income FY2023 4.75B USD. Net income FY2024 4.76B USD. Net income FY2025 3.59B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue34.25B USD36.8B USD35.46B USD33.48B USD27.77B USD
Cost of goods sold26.13B USD27.27B USD26.11B USD22.98B USD19.9B USD
Gross profit8.12B USD9.54B USD9.35B USD10.5B USD7.88B USD
Selling, general, and administrative3.69B USD3.42B USD3.11B USD2.8B USD2.48B USD
Operating expenses3.69B USD3.42B USD3.11B USD2.8B USD2.48B USD
Depreciation and amortization101.3M USD87.1M USD91.6M USD81.4M USD73.9M USD
Operating income4.42B USD6.11B USD6.24B USD7.71B USD5.39B USD
Net income3.59B USD4.76B USD4.75B USD5.86B USD4.18B USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 4 misses, 0 met estimates
Average EPS surprise
+4.32%
11 comparable reports
Latest EPS result
3.2
Estimate 3.02 · Beat by 5.96%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3.492.932.361.8Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 21, 2025: actual 2.61, estimate 2.37, surprise +10.13%, Beat. Q2 2025, reported Apr 17, 2025: actual 2.58, estimate 2.62, surprise -1.53%, Miss. Q3 2025, reported Jul 22, 2025: actual 3.36, estimate 2.94, surprise +14.29%, Beat. Q4 2025, reported Oct 28, 2025: actual 3.04, estimate 3.27, surprise -7.03%, Miss. Q1 2026, reported Jan 20, 2026: actual 2.03, estimate 1.93, surprise +5.18%, Beat. Q2 2026, reported Apr 21, 2026: actual 2.24, estimate 2.15, surprise +4.19%, Beat. Q3 2026, reported Jul 21, 2026: actual 3.2, estimate 3.02, surprise +5.96%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 3.05, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates10.06B8.78B7.49B6.2BQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 21, 2025: actual 7.61B USD, estimate 7.01B USD, surprise +8.55%, Beat. Q2 2025, reported Apr 17, 2025: actual 7.73B USD, estimate 8.03B USD, surprise -3.71%, Miss. Q3 2025, reported Jul 22, 2025: actual 9.23B USD, estimate 8.77B USD, surprise +5.14%, Beat. Q4 2025, reported Oct 28, 2025: actual 9.68B USD, estimate 9.41B USD, surprise +2.81%, Beat. Q1 2026, reported Jan 20, 2026: actual 6.89B USD, estimate 6.59B USD, surprise +4.56%, Beat. Q2 2026, reported Apr 21, 2026: actual 7.56B USD, estimate 7.55B USD, surprise +0.11%, Beat. Q3 2026, reported Jul 21, 2026: actual 9.23B USD, estimate 9.1B USD, surprise +1.44%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 9.11B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$163.75

9.93% upside
Past 12 months12-month forecastHigh $190Average $163.75Low $140

Recent analyst actions

12 institutions
Zelman & AssocupgradeNeutralOutperform

DHI news

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.65

2025 complete year+100.0% since 2021

2026 partial: $1.35

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Aug 6, 2026

$0.45

Quarterly

Record Aug 6, 2026 · Payment Aug 13, 2026

Dividend

Ex-dividend May 7, 2026

$0.45

Quarterly

Record May 7, 2026 · Payment May 14, 2026

Dividend

Ex-dividend Feb 5, 2026

$0.45

Quarterly

Record Feb 5, 2026 · Payment Feb 12, 2026

Dividend

Ex-dividend Nov 13, 2025

$0.45

Quarterly

Record Nov 13, 2025 · Payment Nov 20, 2025

Dividend

Ex-dividend Aug 7, 2025

$0.40

Quarterly

Record Aug 7, 2025 · Payment Aug 14, 2025

Dividend

Ex-dividend May 2, 2025

$0.40

Quarterly

Record May 2, 2025 · Payment May 9, 2025

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