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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 126 markets across 36 states under the names of D.R. Horton. The company also constructs and sells single-family detached homes; and attached homes, such as townhomes and duplexes. In addition, it provides mortgage financing and title agency services; and engages in the residential lot development business. Further, the company develops, constructs, owns, leases, and sells multi-family and single-family rental properties; conducts insurance-related operations; and owns water rights and other water-related assets, as well as 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $34.3B | $4.5B | $3.6B | $3.3B | 14.8% | -6.9% | -24.6% |
| 2024 | $36.8B | $6.0B | $4.8B | $2.0B | 18.8% | 3.8% | 0.2% |
| 2023 | $35.5B | $6.2B | $4.7B | $4.2B | 20.9% | 5.9% | -19.0% |
| 2022 | $33.5B | $7.7B | $5.9B | $414M | 30.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 33,480 | 35,460.40 | 36,801.40 | 34,250.40 |
| Cost Of Revenue | - | 22,975.90 | 26,110 | 27,266 | 26,134.20 |
| Gross Profit | - | 10,504.10 | 9,350.40 | 9,535.40 | 8,116.20 |
| Operating Expense | - | 2,933.70 | 3,248.80 | 3,599.50 | 3,692 |
| Operating Income | - | 7,570.40 | 6,101.60 | 5,935.90 | 4,424.20 |
| EBITDA | - | 7,651.80 | 6,193.20 | 6,023 | 4,525.50 |
| EBIT | - | 7,570.40 | 6,101.60 | 5,935.90 | 4,424.20 |
| Pretax Income | - | 7,629.70 | 6,314.70 | 6,284.70 | 4,739.90 |
| Tax Provision | - | 1,734.10 | 1,519.50 | 1,478.70 | 1,119 |
| Net Income | - | 5,857.50 | 4,745.70 | 4,756.40 | 3,585.20 |
| Net Income Common Stockholders | - | 5,857.50 | 4,745.70 | 4,756.40 | 3,585.20 |
| Total Expenses | - | 25,909.60 | 29,358.80 | 30,865.50 | 29,826.20 |
| Selling General And Administration | - | 2,933.70 | 3,248.80 | 3,599.50 | 3,692 |
| Normalized EBITDA | - | 7,651.80 | 6,193.20 | 6,023 | 4,525.50 |
| Normalized Income | - | 5,857.50 | 4,745.70 | 4,756.40 | 3,585.20 |
| Market Cap | 45,344.38 | 45,344.38 | 45,344.38 | 45,344.38 | 45,344.38 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| D.R. Horton, Inc.this co. | DHI | $49.3B | 12.65↓ discount | 1.87 | 14.8% | 10.69 |
| General Motors Company | GM | $63.2B | 26.09 | 1.15 | 4.4% | 9.81 |
| AutoZone, Inc. | AZO | $60.1B | 23.73 | -17.36 | -73.2% | 16.84 |
| Carvana Co. | CVNA | $56.3B | 41.57 | 17.00 | 40.9% | -560.82 |
| Chipotle Mexican Grill, Inc. | CMG | $45.7B | 29.01 |
| - |
| - |
| - |
| - |
| - |
| 15.74 |
| 54.3% |
| 20.76 |
| eBay Inc. | EBAY | $44.9B | 21.60 | 9.51 | 44.0% | 16.62 |
| Yum! Brands, Inc. | YUM | $44.7B | 28.42 | -6.05 | -21.3% | 20.40 |
| Las Vegas Sands Corp. | LVS | $36.6B | 21.54 | 22.04 | 102.3% | 10.44 |
| Carnival Corporation & plc | CCL | $35.7B | 13.64 | 3.06 | 22.5% | 9.22 |
| Peer Median | - | 24.91 | 6.29 | 31.7% | 13.53 | |