Valuation, from the filing
| Public float | $39.00B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-03-31 |
|---|---|---|
| Float per share | $133.53 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 10.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 1.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-03-31, not today, and each multiple below it uses the figures for the fiscal year ending 2025-09-30 — the year that filing covered.
Valuation over time
10.9× earnings today, against a median of 9.8× across 10 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-03-31 | $39.00B | 10.9× | |
| 2024-03-28 | $53.30B | 11.2× | |
| 2023-03-31 | $32.90B | 6.9× | |
| 2022-03-31 | $26.10B | 4.5× | |
| 2021-03-31 | $32.00B | 7.7× | |
| 2020-03-31 | $11.50B | 4.8× | |
| 2019-03-31 | $14.40B | 8.9× | |
| 2018-03-31 | $15.50B | 10.6× | |
| 2017-03-31 | $11.73B | 11.3× | |
| 2016-03-31 | $10.45B | 11.8× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Operative Builders filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Revenue YoY growth | -6.9% | 14th | |
| FCF margin | 9.6% | 75th | |
| Gross margin | 23.7% | 75th | |
| CapEx / revenue | 0.4% | 33th | |
| Net margin | 10.5% | 64th | |
| Effective tax rate | 23.6% | 60th | |
| SBC / revenue | 0.4% | 50th |
HORTON D R INC /DE/ (DHI) reported revenue of $33.35B and net income of $3.05B for the fiscal year ended 2026-06-30. This page shows 1 annual period 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 | 2026-06-30 |
|---|---|
| Revenue | $33.35B |
| Cost of revenue | $25.81B |
| Gross profit | $7.54B |
| Operating income | Unavailable |
| Net income | $3.05B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $4.10B |
| Income tax expense | $1.00B |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $3.73B |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | $2.08B |
| Total assets | $36.51B |
| Current assets | Unavailable |
| Total liabilities | $12.10B |
| Current liabilities | Unavailable |
| Total equity incl. NCI | $24.41B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | Unavailable |
| Accounts receivable | Unavailable |
| Goodwill | $163.50M |
| Long-term debt | Unavailable |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | $3.35B |
| Capital expenditures | $150.40M |
| Investing cash flow | -$258.70M |
| Financing cash flow | -$3.62B |
| Net change in cash | -$530.00M |
| Stock-based compensation | $137.40M |
| Common dividends paid | $506.70M |
| Common share repurchases | $2.90B |
| Depreciation & amortization | $112.20M |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | $3.20B |
| Gross margin | 22.6% |
| Operating margin | Unavailable |
| FCF margin | 9.6% |
| SBC / revenue | 0.4% |
| Current ratio | Unavailable |
| Revenue YoY growth | -3.5% |
| Net margin | 9.2% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 0.5% |
| Long-term debt / equity | Unavailable |
| Effective tax rate | 24.5% |
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
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.