TICKDELTA
Sign in
Screener / SEC EDGAR /CIK 0000882184 /10-K filed Nov 19, 2025, compared with Nov 19, 2024 /Numbers from the XBRL of the 10-Ks
Consumer discretionary peers:
SBUXBKNGCCLDHILENMCD
NYSE Consumer discretionary · Homebuilders

D. R. Horton DHI

DHI quote by TradingView

D.R. Horton, Inc. is the largest homebuilding company in the United States as measured by number of homes closed. 10-K, Item 1

Employees
14,341
Headquarters
Arlington, TX
CEO
Paul J. Romanowski
Next results
around Jan 19, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $34.3B through the costs to a net profit of $3.6B · income statement of the 10-K

10% net margin
Revenue to Gross profit: $8.1BRevenue to Cost of revenue: $26.1BGross profit to Net profit: $3.6BGross profit to Costs, tax, other: $4.5B Revenue: $34.3B REVENUE $34.3B −7% Y/Y Gross profit: $8.1B · 24% margin GROSS PROFIT $8.1B 24% margin Cost of revenue: $26.1B · 76% of revenue COST OF REVENUE $26.1B 76% of revenue Net profit: $3.6B · 10% margin NET PROFIT $3.6B 10% margin · −25% Y/Y Costs, tax, other: $4.5B · 13% of revenue COSTS, TAX, OTHER $4.5B 13% of revenue
Gross profit $8.1B 24% margin
Net profit $3.6B 10% margin · −25% Y/Y
The full income statement, year by year

DHI among Consumer discretionary peers

Six ratios from the latest 10-K. Each corner is the share of 46 peers the company is above, not a score.

Compare
Revenue growth: -6.9%, above 0% of 46 peers (their median 5.9%) REVENUE GROWTH -6.9% · above 0% Gross margin: 22.6%, above 17% of 30 peers (their median 42.2%) GROSS MARGIN 22.6% · above 17% Net margin: 9.2%, above 39% of 46 peers (their median 11.0%) NET MARGIN 9.2% · above 39% FCF margin: 9.6%, above 55% of 44 peers (their median 9.2%) FCF MARGIN 9.6% · above 55%
DHI Peer median Below the median

What changed

2 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Nov 19, 2025 against Nov 19, 2024.

Risk factors
2 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Cash from operations lower than net income
Cash from operations $3.4B vs net income $3.6B (FY ending Sep 30, 2025)
10-K · XBRL
Accounting checks
8 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

9 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 8 checks found nothing to note

  • Cash from operations lower than net income
    Cash from operations $3.4B vs net income $3.6B (FY ending Sep 30, 2025)
  • Same auditor in both 10-Ks: Ernst & Young LLP
7 more checks with nothing to note
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Estimation of reserves for construction defect matters
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

2 paragraphs in Risk Factors that were not in the 10-K filed Nov 19, 2024. Quoted as filed.

All 2 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Nov 19, 2024 10-K, ITEM 1A
    In addition, other types of lawsuits, claims and proceedings have been and may in the future be instituted or asserted against us. Some of these claims may result in significant defense costs and potentially significant judgments against us, some of which are not, or cannot be, insured against. We intend to defend ourselves vigorously…
  2. Item 1A · new paragraph · not in the 10-K filed Nov 19, 2024 10-K, ITEM 1A
    We are subject to income taxes at the federal, state and local levels, and any changes in tax legislation could adversely affect our future effective tax rates and the value of our deferred tax assets.

New risk paragraphs, against peers

Latest 10-K of each, Consumer discretionary companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$33.5B$35.5B$36.8B$34.3B
Net income$5.9B$4.7B$4.8B$3.6B
Operating cash flow$561.8M$4.3B$2.2B$3.4B
Free cash flow$413.6M$4.2B$2.0B$3.3B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$34.3B ▼ 6.9% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

D. R. Horton, Arlington, TX · from the 10-K filed Nov 19, 2025

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.

Headquarters
Arlington, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
September 30
Last results
Oct 29, 2026
Incorporated in
DE

Employees, at the top of the page: "As of September 30, 2025, we employed 14,341 people, of whom 9,972 work in our homebuilding operations, 2,967 in our financial services operations, 586 at our corporate office, 330 in our rental operations, 433 at Forestar and 53 in our other businesses" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Nov 19, 2025 (open at SEC), compared with the 10-K filed Nov 19, 2024. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/DHI/export.csv") into a cell.