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Saturday 17 October 2026 Export DHI’s income statement to Excel — free account

D.R. Horton, Inc.

DHI Consumer Cyclical Residential Construction

D.R. Horton, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $34.3 billion, down 6.93% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 4.75%, free cash flow fell 44.1% and total debt fell 1.88%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

139.39 0.16 −0.11%
Market cap
$39.0B
P/E
13.2×
Fwd P/E
13.8×
Dividend yield
1.29%
F-score
4/9
Altman Z
6.41
Beneish M
n/a
Dividend safety
92/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

D.R. Horton, Inc. (DHI) Operating margin

Alert me on Operating margin

D.R. Horton, Inc.'s operating margin over the twelve months to 30 June 2026 was 11.4%, down 1.5 percentage points from fiscal 2025 (12.9%). Over the past ten years it has ranged from 10.1% (fiscal 2015) to 22.6% (fiscal 2022); the current reading is higher than 55% of that period. That is above the Residential Construction industry median of 9.03% and above the Consumer Cyclical sector median of 3.57%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 12.9% (3.21)
FY2024 16.1% (1.08)
FY2023 17.2% (5.40)
FY2022 22.6% 3.46
FY2021 19.2% 4.92
FY2020 14.2% 2.64
FY2019 11.6% (0.83)
FY2018 12.4% 1.23
FY2017 11.2% 0.27
FY2016 10.9% 0.83

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 12.5% 1.94
Mar 2026 10.6% (0.01)
Dec 2025 10.6% (1.04)
Sep 2025 11.6% (2.08)
42 more quarters

Against its own ten years

Low 10.1% High 22.6%
Ten-year median 12.9%
Current reading's percentile 24

Operating margin against peers

Company Operating margin
NVR NVR, Inc. compare 16.0%
PHM PulteGroup, Inc. compare 15.2%
TOL Toll Brothers Inc. compare 13.8%
IBP Installed Building Products, Inc. compare 12.4%
DHI D.R. Horton, Inc. 11.4%
CVCO Cavco Industries, Inc. compare 9.62%
SKY Champion Homes, Inc. compare 8.74%
LEN Lennar Corporation compare 5.63%
LEN.B Lennar Corporation compare 5.63%
Residential Construction industry median 9.03%
Consumer Cyclical sector median 3.57%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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