Revenue
$34.25B
Fiscal year ended 2025-09-30Operating income
Unavailable
Fiscal year ended 2025-09-30Free cash flow
$3.28B
Fiscal year ended 2025-09-30HORTON D R INC /DE/ (DHI) reported revenue of $34.25B and net income of $3.59B for the fiscal year ended 2025-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from HORTON D R INC /DE/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Operative Builders.
Income
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.25B | $36.80B | $35.46B | $33.48B | $27.77B | $20.31B | $17.59B | $16.07B | $14.09B | $12.16B |
| Cost of revenue | $26.13B | $27.27B | $26.11B | $22.98B | $19.90B | $15.37B | $13.72B | $12.40B | $11.04B | $9.50B |
| Gross profit | $8.12B | $9.54B | $9.35B | $10.50B | $7.88B | $4.94B | $3.87B | $3.67B | $3.05B | $2.65B |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $3.59B | $4.76B | $4.75B | $5.86B | $4.18B | $2.37B | $1.62B | $1.46B | $1.04B | $886.30M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 309.90M | shares 331.60M | shares 343.30M | shares 354.80M | shares 365.80M | shares 370.20M | shares 377.40M | shares 383.40M | shares 378.90M | shares 375.10M |
| Pretax income | $4.74B | $6.28B | $6.31B | $7.63B | $5.36B | $2.98B | $2.13B | $2.06B | $1.60B | $1.35B |
| Income tax expense | $1.12B | $1.48B | $1.52B | $1.73B | $1.17B | $602.50M | $506.70M | $597.70M | $563.70M | $467.20M |
| Diluted EPS | $11.57 | $14.34 | $13.82 | $16.51 | $11.41 | $6.41 | $4.29 | $3.81 | $2.74 | $2.36 |
| Selling, general & administrative | $3.69B | $3.60B | $3.25B | $2.93B | $2.56B | $2.05B | $1.83B | $1.68B | $1.47B | $1.32B |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.99B | $4.52B | $3.87B | $2.54B | $3.21B | $3.02B | $1.49B | $1.47B | $1.01B | $1.30B |
| Total assets | $35.47B | $36.10B | $32.58B | $30.35B | $24.02B | $18.91B | $15.61B | $14.11B | $12.18B | $11.56B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $10.73B | $10.28B | $9.44B | $10.57B | $8.80B | $6.79B | $5.31B | $4.96B | $4.44B | $4.77B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $24.74B | $25.82B | $23.14B | $19.79B | $15.22B | $12.12B | $10.30B | $9.16B | $7.75B | $6.79B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $163.50M | $163.50M | $163.50M | $163.50M | $163.50M | $163.50M | $163.50M | $109.20M | $80.00M | Unavailable |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.42B | $2.19B | $4.30B | $561.80M | $534.40M | $1.42B | $892.10M | $545.20M | $440.20M | $623.90M |
| Capital expenditures | $137.40M | $165.30M | $148.60M | $148.20M | $93.50M | $96.50M | $127.20M | $68.10M | $102.70M | $78.10M |
| Investing cash flow | -$168.70M | -$190.60M | -$310.20M | -$414.90M | -$252.20M | -$166.10M | -$394.00M | $19.00M | -$164.00M | -$112.60M |
| Financing cash flow | -$4.76B | -$1.36B | -$2.67B | -$811.20M | -$85.10M | $270.60M | -$490.10M | -$82.50M | -$564.60M | -$591.90M |
| Net change in cash | -$1.51B | $643.90M | $1.33B | -$664.30M | $197.10M | $1.53B | $8.00M | $481.70M | -$288.40M | -$80.60M |
| Stock-based compensation | $131.00M | $118.10M | $111.20M | $105.10M | $91.40M | $77.80M | $73.20M | $55.80M | $59.20M | $49.00M |
| Common dividends paid | $494.80M | $395.20M | $341.20M | $316.50M | $289.30M | $256.00M | $223.40M | $188.40M | $149.60M | $118.70M |
| Common share repurchases | $4.30B | $1.80B | $1.20B | $1.10B | $874.00M | $360.40M | $479.80M | $127.50M | $60.60M | $0 |
| Depreciation & amortization | $101.30M | $87.10M | $91.60M | $81.40M | $82.10M | $90.60M | $72.00M | $62.40M | $54.70M | $61.00M |
Derived
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $3.28B | $2.02B | $4.16B | $413.60M | $440.90M | $1.33B | $764.90M | $477.10M | $337.50M | $545.80M |
| Gross margin | 23.7% | 25.9% | 26.4% | 31.4% | 28.4% | 24.3% | 22.0% | 22.8% | 21.6% | 21.8% |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 9.6% | 5.5% | 11.7% | 1.2% | 1.6% | 6.5% | 4.3% | 3.0% | 2.4% | 4.5% |
| SBC / revenue | 0.4% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.4% | 0.3% | 0.4% | 0.4% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | -6.9% | 3.8% | 5.9% | 20.5% | 36.7% | 15.5% | 9.5% | 14.0% | 15.9% | Unavailable |
| Net margin | 10.5% | 12.9% | 13.4% | 17.5% | 15.0% | 11.7% | 9.2% | 9.1% | 7.4% | 7.3% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.5% | 0.7% | 0.4% | 0.7% | 0.6% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 23.6% | 23.5% | 24.1% | 22.7% | 21.8% | 20.2% | 23.8% | 29.0% | 35.2% | 34.5% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open DHI in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-23View SEC filing
10-Q · Filed 2026-04-23View SEC filing
10-Q · Filed 2026-01-22View SEC filing
10-K · Filed 2025-11-19View SEC filing
10-Q · Filed 2025-07-23View SEC filing
10-Q · Filed 2025-04-23View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.