HORTON D R INC /DE/

Listed Company

DHICIK 0000882184NYSELarge AcceleratedOperative BuildersDelawareFY ends Sep 30

Period

FY 2025

Revenue

$34.25B

Net Income

$3.59B

Total Assets

$35.47B

Equity

$24.19B

Shares Out

283.58M

Op. Cash Flow

$3.42B

DHI$149.36+13.45% · past yearDBEQ Basic

Daily closing prices

Business

D.R. Horton, Inc. is the largest homebuilder in the United States by homes closed, constructing and selling single-family detached and attached homes across numerous markets in multiple states, with price points spanning entry-level to luxury segments. The company operates homebuilding as its primary business, supplemented by single-family and multi-family rental operations, a controlling stake in a residential lot development company, and financial services including mortgage origination and title insurance. Distribution occurs through direct sales from model homes, commissioned sales employees, and independent real estate brokers in local markets across the United States.

Summary from 10-K filed 2025-11-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Revenues	34,250	36,801	35,460	33,480	27,774
Cost of sales	26,134	27,266	26,110	22,976	19,899
Selling, general and administrative expense	3,692	3,600	3,249	2,934	2,556
Other (income) expense	−316	−349	−213	−59	−42
Income before income taxes	4,740	6,285	6,315	7,630	5,356
Income tax expense	1,119	1,479	1,520	1,734	1,165
Net income	3,621	4,806	4,795	5,896	4,191
Net income attributable to noncontrolling interests	36	50	50	38	15
Net income attributable to D.R. Horton, Inc.	3,585	4,756	4,746	5,858	4,176
Earnings Per Share, Basic	11.62	14.44	13.93	16.65	11.56
Earnings Per Share, Diluted	11.57	14.34	13.82	16.51	11.41
Weighted Average Number of Shares Outstanding, Basic	309	330	341	352	361
Weighted Average Number of Shares Outstanding, Diluted	310	332	343	355	366

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	2,985	4,516	3,874	2,541	3,210
Restricted cash	48	28	27	32	27
Total cash, cash equivalents and restricted cash	3,033	4,544	3,900	2,573	3,237
Construction in progress and finished homes	7,649	8,876	9,001	9,798	7,739
Residential land and lots developed and under development	14,696	12,948	10,622	9,173	7,782
Land held for development	218	161	50	111	111
Land held for sale	21	13	9	29	25
Rental properties	2,703	2,906	2,691	2,544	822
Total inventory	25,287	24,903	22,373	21,656	16,479
Mortgage loans held for sale	2,570	2,480	2,500	2,400	2,030
Deferred income taxes, net of valuation allowance of $14.6 million and $14.9 million at September 30, 2025 and 2024, respectively	45	168	187	141	155
Property and equipment, net	579	531	445	472	393
Other assets	3,797	3,318	2,993	2,960	1,561
Goodwill	164	164	164	164	164
Total assets	35,471	36,104	32,582	30,351	24,016
Accounts payable	1,222	1,346	1,246	1,360	1,177
Accrued expenses and other liabilities	3,542	3,017	3,104	3,138	2,210
Notes payable	5,966	5,918	5,095	6,067	5,412
Total liabilities	10,729	10,280	9,445	10,566	8,800
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $.10 par value, 30,000,000 shares authorized, no shares issued	0	0	0	0	0
Common stock, $.01 par value, 1,000,000,000 shares authorized, 404,031,443 shares issued and 294,475,153 shares outstanding at September 30, 2025 and 402,848,342 shares issued and 324,027,360 shares outstanding at September 30, 2024	4	4	4	4	4
Additional paid-in capital	3,576	3,491	3,432	3,350	3,275
Retained earnings	31,041	27,951	23,590	19,185	13,644
Treasury stock, 109,556,290 shares and 78,820,982 shares at September 30, 2025 and 2024, respectively, at cost	−10,431	−6,133	−4,330	−3,143	−2,037
Stockholders equity	24,190	25,313	22,696	19,396	14,887
Noncontrolling interests	552	512	442	389	330
Total equity	24,742	25,824	23,138	19,786	15,216
Total liabilities and equity	35,471	36,104	32,582	30,351	24,016

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	101	87	92	81	82
Stock-based compensation expense	131	118	111	105	91
Deferred income taxes	123	19	−46	29	−10
Inventory and land option charges	158	79	80	70	29
Decrease in construction in progress and finished homes	1,229	141	862	−2,059	−1,735
Increase in residential land and lots developed, under development, held for development and held for sale	−1,884	−2,577	−1,226	−1,403	−1,721
Decrease (increase) in rental properties	195	−215	−152	−1,723	−304
(Increase) decrease in other assets	−248	−331	24	−1,112	−441
(Increase) decrease in mortgage loans held for sale	−89	42	−134	−359	−498
Increase (decrease) in accounts payable, accrued expenses and other liabilities	84	20	−102	1,036	845
Net cash provided by operating activities	3,421	2,190	4,304	562	534
Expenditures for property and equipment	−137	−165	−149	−148	−94
Proceeds from sale of assets	23	19	52	0	38
Payments related to business acquisitions, net of cash acquired	−53	−40	−213	−272	−25
Other investing activities	−1	−4	−700,000	5	2
Net cash used in investing activities	−169	−191	−310	−415	−252
Proceeds from notes payable	3,272	2,086	711	4,250	1,542
Repayment of notes payable	−3,143	−1,056	−1,824	−3,801	−826
(Repayment) borrowings on mortgage repurchase facilities, net	−126	−136	51	124	362
Proceeds from stock associated with certain employee benefit plans	19	21	26	33	23
Cash dividends paid	−495	−395	−341	−317	−289
Repurchases of common stock	−4,282	−1,788	−1,179	−1,132	−848
Net proceeds from issuance of Forestar common stock	0	20	0	2	34
Net other financing activities	56	−24	−55	91	−2
Net cash used in financing activities	−4,763	−1,355	−2,667	−811	−85
Net (decrease) increase in cash, cash equivalents and restricted cash	−1,511	644	1,327	−664	197
Income taxes paid, net	1,021	1,670	1,442	1,701	1,138
Notes payable issued for inventory	6	43	55	64	13
Reduction of notes payable upon deconsolidation of variable interest entity	0	−128	0	0	—
Stock issued under employee incentive plans	148	174	111	131	125

Filings

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Frequently asked questions

What is HORTON D R INC /DE/'s CIK number?

HORTON D R INC /DE/'s SEC CIK number is 0000882184 (882184). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find HORTON D R INC /DE/'s SEC filings?

All of HORTON D R INC /DE/'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did HORTON D R INC /DE/ last report earnings?

HORTON D R INC /DE/ (DHI) most recently filed an earnings 8-K with the SEC on Apr 21, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000882184-26-000062). This is HORTON D R INC /DE/'s most recent earnings filing of record — not a forecast of its next earnings date.

What is HORTON D R INC /DE/'s most recent earnings 8-K?

HORTON D R INC /DE/'s latest earnings 8-K (Item 2.02) was filed Apr 21, 2026 under accession 0000882184-26-000062. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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