Source: D. R. Horton's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026
Revenue, net income & free cash flow
Income statement
fiscal years · USD
Fiscal year
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
$12.16B
$14.09B
$16.07B
$17.59B
$20.31B
$27.77B
$33.48B
$35.46B
$36.80B
$34.25B
Cost of revenue
$9.50B
$11.04B
$12.40B
$13.72B
$15.37B
$19.90B
$22.98B
$26.11B
$27.27B
$26.13B
Gross profit
$2.65B
$3.05B
$3.67B
$3.87B
$4.94B
$7.88B
$10.50B
$9.35B
$9.54B
$8.12B
Selling, general & admin
$1.32B
$1.47B
$1.68B
$1.83B
$2.05B
$2.56B
$2.93B
$3.25B
$3.60B
$3.69B
Interest expense
—
—
$0
—
—
—
—
—
—
—
Pre-tax income
$1.35B
$1.60B
$2.06B
$2.13B
$2.98B
$5.36B
$7.63B
$6.31B
$6.28B
$4.74B
Income tax
$467.20M
$563.70M
$597.70M
$506.70M
$602.50M
$1.17B
$1.73B
$1.52B
$1.48B
$1.12B
Net income
$886.30M
$1.04B
$1.46B
$1.62B
$2.37B
$4.18B
$5.86B
$4.75B
$4.76B
$3.59B
EPS (basic)
$2.39
$2.77
$3.88
$4.34
$6.49
$11.56
$16.65
$13.93
$14.44
$11.62
EPS (diluted)
$2.36
$2.74
$3.81
$4.29
$6.41
$11.41
$16.51
$13.82
$14.34
$11.57
Diluted shares
375.10M
378.90M
383.40M
377.40M
370.20M
365.80M
354.80M
343.30M
331.60M
309.90M
Gross margin
21.8%
21.6%
22.8%
22.0%
24.3%
28.4%
31.4%
26.4%
25.9%
23.7%
Net margin
7.3%
7.4%
9.1%
9.2%
11.7%
15.0%
17.5%
13.4%
12.9%
10.5%
Balance sheet
fiscal years · USD
Fiscal year
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash & equivalents
$1.30B
$1.01B
$1.47B
$1.49B
$3.02B
$3.21B
$2.54B
$3.87B
$4.52B
$2.99B
Goodwill
—
$80.00M
$109.20M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
Total assets
$11.56B
$12.18B
$14.11B
$15.61B
$18.91B
$24.02B
$30.35B
$32.58B
$36.10B
$35.47B
Total liabilities
$4.77B
$4.44B
$4.96B
$5.31B
$6.79B
$8.80B
$10.57B
$9.44B
$10.28B
$10.73B
Shareholders' equity
$6.79B
$7.75B
$8.98B
$10.02B
$11.84B
$14.89B
$19.40B
$22.70B
$25.31B
$24.19B
Cash flow
fiscal years · USD
Fiscal year
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Operating cash flow
$623.90M
$440.20M
$545.20M
$892.10M
$1.42B
$534.40M
$561.80M
$4.30B
$2.19B
$3.42B
Capital expenditures
$78.10M
$102.70M
$68.10M
$127.20M
$96.50M
$93.50M
$148.20M
$148.60M
$165.30M
$137.40M
Free cash flow
$545.80M
$337.50M
$477.10M
$764.90M
$1.33B
$440.90M
$413.60M
$4.16B
$2.02B
$3.28B
Investing cash flow
-$112.60M
-$164.00M
$19.00M
-$394.00M
-$166.10M
-$252.20M
-$414.90M
-$310.20M
-$190.60M
-$168.70M
Financing cash flow
-$591.90M
-$564.60M
-$82.50M
-$490.10M
$270.60M
-$85.10M
-$811.20M
-$2.67B
-$1.36B
-$4.76B
Dividends paid
$118.70M
$149.60M
$188.40M
$223.40M
$256.00M
$289.30M
$316.50M
$341.20M
$395.20M
$494.80M
Share buybacks
$0
$60.60M
$127.50M
$479.80M
$360.40M
$874.00M
$1.10B
$1.20B
$1.80B
$4.30B
Stock-based compensation
$49.00M
$59.20M
$55.80M
$73.20M
$77.80M
$91.40M
$105.10M
$111.20M
$118.10M
$131.00M
Depreciation & amortization
$61.00M
$54.70M
$62.40M
$72.00M
$90.60M
$82.10M
$81.40M
$91.60M
$87.10M
$101.30M
Income statement
quarters · USD
Quarter ended
Sep 2023
Dec 2023
Mar 2024
Jun 2024
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Revenue
$10.50B
$7.73B
$9.11B
$9.97B
$10.00B
$7.61B
$7.73B
$9.23B
$9.68B
$6.89B
$7.56B
$9.23B
Cost of revenue
$7.68B
$5.72B
$6.77B
$7.32B
$7.45B
$5.70B
$5.83B
$7.02B
$7.58B
$5.29B
$5.85B
$7.08B
Gross profit
$2.82B
$2.01B
$2.33B
$2.64B
$2.55B
$1.91B
$1.90B
$2.21B
$2.10B
$1.59B
$1.70B
$2.15B
Selling, general & admin
$886.20M
$835.00M
$880.60M
$923.60M
$960.30M
$878.10M
$898.70M
$944.30M
$970.90M
$865.10M
$903.30M
$991.20M
Pre-tax income
$2.02B
$1.25B
$1.53B
$1.80B
$1.71B
$1.11B
$1.07B
$1.36B
$1.20B
$798.10M
$867.40M
$1.23B
Income tax
$492.80M
$291.80M
$344.80M
$432.20M
$409.90M
$258.00M
$248.00M
$325.00M
$288.00M
$196.70M
$209.40M
$307.50M
Net income
$1.51B
$947.40M
$1.17B
$1.35B
$1.28B
$844.90M
$810.40M
$1.02B
$905.30M
$594.80M
$647.90M
$904.90M
EPS (basic)
$4.47
$2.84
$3.54
$4.12
$3.94
$2.63
$2.59
$3.37
$3.05
$2.03
$2.25
$3.21
EPS (diluted)
$4.43
$2.82
$3.52
$4.10
$3.91
$2.61
$2.58
$3.36
$3.04
$2.03
$2.24
$3.20
Diluted shares
-1.40M
335.70M
333.30M
330.10M
-1.40M
323.30M
314.00M
304.90M
-4.20M
293.30M
289.00M
283.00M
Gross margin
26.9%
26.0%
25.6%
26.5%
25.5%
25.1%
24.6%
23.9%
21.7%
23.2%
22.5%
23.3%
Net margin
14.4%
12.3%
12.9%
13.6%
12.8%
11.1%
10.5%
11.1%
9.4%
8.6%
8.6%
9.8%
Balance sheet
quarters · USD
Quarter ended
Sep 2023
Dec 2023
Mar 2024
Jun 2024
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Cash & equivalents
$3.87B
$3.32B
$3.06B
$2.99B
$4.52B
$3.05B
$2.47B
$2.61B
$2.99B
$2.51B
$1.92B
$2.08B
Goodwill
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
$163.50M
Total assets
$32.58B
$33.38B
$34.40B
$35.15B
$36.10B
$35.03B
$35.69B
$36.40B
$35.47B
$34.64B
$35.57B
$36.51B
Total liabilities
$9.44B
$9.78B
$10.10B
$10.00B
$10.28B
$9.57B
$10.83B
$11.80B
$10.73B
$10.08B
$11.37B
$12.10B
Shareholders' equity
$22.70B
$23.15B
$23.82B
$24.66B
$25.31B
$24.94B
$24.33B
$24.05B
$24.19B
$24.00B
$23.63B
$23.82B
Cash flow
quarters · USD
Quarter ended
Sep 2023
Dec 2023
Mar 2024
Jun 2024
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Operating cash flow
$2.04B
-$153.40M
-$316.70M
$698.30M
$1.96B
$646.70M
-$436.20M
$738.60M
$2.47B
$854.00M
-$412.50M
$439.30M
Capital expenditures
$40.30M
$47.60M
$23.70M
$62.00M
$32.00M
$13.30M
$34.30M
$46.00M
$43.80M
$27.40M
$37.20M
$42.00M
Free cash flow
$2.00B
-$201.00M
-$340.40M
$636.30M
$1.93B
$633.40M
-$470.50M
$692.60M
$2.43B
$826.60M
-$449.70M
$397.30M
Investing cash flow
-$1.70M
-$39.30M
-$26.70M
-$95.10M
-$29.50M
-$57.10M
-$37.40M
-$29.00M
-$45.20M
-$116.20M
-$44.20M
-$53.10M
Financing cash flow
-$1.55B
-$362.80M
$92.20M
-$676.60M
-$408.10M
-$2.06B
-$77.30M
-$562.80M
-$2.06B
-$1.22B
-$122.10M
-$225.50M
Dividends paid
$84.30M
$99.90M
$99.20M
$98.40M
$97.70M
$128.50M
$125.50M
$122.40M
$118.40M
$131.50M
$129.70M
$127.10M
Share buybacks
$435.80M
$398.30M
$402.20M
$399.50M
$400.00M
$1.10B
$1.50B
$1.00B
$700.00M
$669.70M
$930.30M
$600.00M
Stock-based compensation
$30.60M
$40.90M
$25.00M
$26.80M
$25.40M
$43.00M
$32.20M
$25.90M
$29.90M
$41.40M
$34.60M
$31.50M
Depreciation & amortization
$21.40M
$20.00M
$21.10M
$22.40M
$23.60M
$24.10M
$24.60M
$25.20M
$27.40M
$27.70M
$28.10M
$29.00M
Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.