TORVANTA
Consumer Discretionary · S&P 500 · data as of 2026-10-05

DHI stock analysis: D.R. Horton

D.R. Horton (DHI) is an S&P 500 company in Homebuilding. It grades weakest on profitability, momentum and growth.

The model's view of DHI · subscribers

Where DHI ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with DHI · updated 2026-10-05 · from prices and SEC filings

DHI price performance

DHI against the S&P 500, one year
-20%+0%+20%S&P 500 +18%DHI -21%2025-09-292026-10-05
Year to date-6.7%S&P 500 +14.5% · behind by 21.2 pts
1 year-22.9%S&P 500 +17.0% · behind by 39.9 pts
3 years+32.5%S&P 500 +89.3% · behind by 56.8 pts
5 years+69.2%S&P 500 +91.3% · behind by 22.1 pts

Total returns with dividends reinvested.

DHI factor grades

Each grade compares DHI with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

B+ValueP/E 12.7x (sector 18.9x)FCF yield 8.6% (sector 5.3%)
D+GrowthRevenue growth -4% (sector +6%)EPS growth -16% (sector +5%)
C-Profitability
C-Momentum12-month change -23%From 52-wk high -23%

DHI in plain numbers

DHI key statistics

SectorConsumer Discretionary
IndustryHomebuilding
IndexS&P 500
Market value$37.3B
Revenue growth (y/y)-4%
Free-cash-flow yield8.6%
Dividend yield1.4%
Next earnings (expected)2026-10-27
Valuation measures
Market value$37.3B
Enterprise value$35.2B
P/E (trailing)12.7x
Forward P/E (Torvanta estimate)12.7x
Price / sales1.1x
Price / book1.6x
EV / revenue1.1x
Financial highlights
Revenue, last 12 months$33.3B
Net income, last 12 months$3.1B
EPS, last 12 months (GAAP)$10.51
Gross margin22.6%
Net margin9.2%
Return on equity12.8%
Cash$2.1B
Total debt$0
Free cash flow, last 12 months$3.2B

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

DHI earnings trends

Revenue vs earnings
$0$2.5B$5.0B$7.5B$10.0BSep 2024 Revenue: $10.0BDec 2024 Revenue: $7.6BMar 2025 Revenue: $7.7BJun 2025 Revenue: $9.2BSep 2025 Revenue: $9.7BDec 2025 Revenue: $6.9BMar 2026 Revenue: $7.6BJun 2026 Revenue: $9.2BSep 2024 Net income: $1.3BDec 2024 Net income: $844.9MMar 2025 Net income: $810.4MJun 2025 Net income: $1.0BSep 2025 Net income: $905.3MDec 2025 Net income: $594.8MMar 2026 Net income: $647.9MJun 2026 Net income: $904.9MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 12.8%Net margin: 11.1%Net margin: 10.5%Net margin: 11.1%Net margin: 9.4%Net margin: 8.6%Net margin: 8.6%Net margin: 9.8%0%6%13%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$1.0$2.0$2.9$3.9Sep 2024 EPS (GAAP, diluted): $3.9Dec 2024 EPS (GAAP, diluted): $2.6Mar 2025 EPS (GAAP, diluted): $2.6Jun 2025 EPS (GAAP, diluted): $3.4Sep 2025 EPS (GAAP, diluted): $3.0Dec 2025 EPS (GAAP, diluted): $2.0Mar 2026 EPS (GAAP, diluted): $2.2Jun 2026 EPS (GAAP, diluted): $3.2Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 -22% · Dec 2025 -22% · Mar 2026 -13% · Jun 2026 -5%

From the company's 10-Q and 10-K filings with the SEC.

D.R. Horton financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$27.8B$33.5B$35.5B$36.8B$34.3B
Net income$4.2B$5.9B$4.7B$4.8B$3.6B
EPS (GAAP)$11.41$16.53$13.82$14.35$11.59
Free cash flow$440.9M$413.6M$4.2B$2.0B$3.3B

DHI earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-21$3.20-5%+0%-2.3%
2026-04-21$2.24-13%-2%+4.8%
2026-01-20$2.03-22%-10%+2.3%
2025-10-28$3.04-22%-3%-7.0%
2025-07-22$3.36-18%-7%+12.0%
2025-04-17$2.58-27%-15%+5.0%

About D.R. Horton

HeadquartersArlington, TX
Industry (SEC code)Operative Builders
Fiscal year endsSeptember 30
Incorporated inDE
Listed onNYSE

From the company's SEC registration record.

Companies similar to DHI

CompanyMarket valueP/ERevenue growthOperating margin12-month change
DHI D.R. Horton$37.3B12.7x-4%n/a-23%
PHM PulteGroup$21.4B11.6x-7%n/a-16%compare
LEN Lennar$17.9B11.7x-7%n/a-42%compare
NVR NVR Inc$15.9B15.5x-10%n/a-27%compare

All Consumer Discretionary stock ratings

Frequently asked questions

Is DHI stock a buy?

Torvanta does not tell individuals what to buy. Its grades for DHI are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is DHI's P/E ratio?

DHI trades at about 12.7 times its last 12 months of GAAP earnings reported to the SEC, and about 12.7 times Torvanta's own estimate of the next 12 months.

When does DHI report earnings next?

Based on its filing history, Torvanta expects D.R. Horton to report around 2026-10-27.

Does DHI pay a dividend?

Yes. Its dividend yield is about 1.4%, and it has raised its dividend 12 years in a row.

How has DHI performed against the S&P 500?

Over the past year DHI returned -22.9%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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