D.R. Horton (DHI)

Consumer Discretionary · $40.4B market cap · SEC CIK 0000882184

Next reports on Oct 29, 2026, after the close, with analysts expecting $3.07 in earnings per share.

The case for DHI

• Free cash flow of 8.1% of its market value a year: a lot of cash for the price.
• Reasonably priced at 13.2× earnings.
• Has compounded revenue at 11.0% a year over five years.
• Barely leveraged. Debt is 0.30× equity.
• Current assets cover the near-term bills 4.3 times over.

The case against

• Revenue slipped 3.5% on the year.
• Earnings per share fell 15.7%.
• Profitability is weak (40/100): return on equity 13%, net margin 9.2%, gross margin 23%, 92% of profit turned to cash.
• The price trend is weak (26/100): -17.3% over a year, -11.8% over three months, 28% of the way up its 52-week range.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Consumer Discretionary companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 48 Consumer Discretionary companies.

Key numbers

Five years of financials, as filed

Pulled from D.R. Horton's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.

Share count is down 15.3% over 4 years. Buybacks have been shrinking the pie.

What D.R. Horton says it does

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…

Risk factors DHI lists in its 10-K

• Risks Related to our Business and our Industry
• Our homebuilding, rental and land development operations are cyclical and significantly affected by changes in economic, real estate or other conditions that could adversely affect our business and financial results
• Adverse developments affecting the capital markets and financial institutions could limit our ability to access capital, increase our cost of capital and impact our liquidity and capital resources
• The risks associated with our land, lot and rental inventory could adversely affect our business and financial results
• We cannot make any assurances that our growth strategies, acquisitions, investments or other strategic initiatives will be successful or will not expose us to additional risks or other negative consequences
• Our business and financial results could be adversely affected by significant inflation, higher interest rates or deflation
• Supply shortages and other risks related to acquiring land, building materials and skilled labor and obtaining regulatory approvals could increase our costs and delay deliveries
• Public health issues such as a major epidemic or pandemic could adversely affect our business and financial results
• Our business is subject to home warranty and construction defect claims and other litigation that can be significant
• A health and safety incident relating to our operations could be costly in terms of potential liability and reputational damage
• We are required to obtain performance bonds, the unavailability of which could adversely affect our results of operations and cash flows
• Increases in the costs of owning a home could prevent potential customers from buying our homes and adversely affect our business and financial results
• Information technology failures, cybersecurity incidents, and the failure to satisfy privacy and data protection laws and regulations could harm our business
• Governmental regulations and environmental matters could increase the cost and limit the availability of our land development and housing projects and adversely affect our business and financial results

Filings

Other Consumer Discretionary companies