D.R. Horton Inc.

D.R. Horton Inc.

DHI

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Market Cap$40.01B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
D.R. Horton Inc.D.R. Horton Inc.13.61.22%13%1.20.3

Earnings Call Q3 2026

July 21, 2026 - AI Summary

Strong Q3 fundamentals (but down YoY): D.R. Horton reported EPS $3.20 (diluted) vs $3.36 a year ago; net income $905M on $9.2B revenue. Closed 23,983 homes (vs 23,160 last year; at the high end of guidance range). Home sales gross margin 20.7% (above guided range), but average closing price ~ $362k (-2% YoY), reflecting the continued affordability-focused positioning (about $155k below the U.S. new-home average).
Guidance trimmed mainly due to softer-than-expected demand, not margin collapse: Management reduced outlook because Q3 demand fell below internal expectations (despite “normal” seasonality earlier). Incentives remain elevated and visibility into demand is still uncertain, but they aim to hold gross margin relatively flat sequentially (Q4 gross margin 20.5%–21%).
Forward outlook (key numbers): - Q4: consolidated revenue $8.8B–$9.3B; 22,500–23,000 homes closed; home sales gross margin 20.5%–21%; consolidated pre-tax margin 12.3%–12.8%. - Full-year FY26 (updated): revenue ~$32.5B–$33.0B; 83,800–84,300 homes closed; tax rate ~25%; still targeting operating cash flow ≥ $3B, repurchases ~ $2.5B, and dividends ~ $500M.

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$163.75

Target Price by Analysts

14.5% upsideD.R. Horton Target Price DetailsTarget Price
$165.15

Current Fair Value

15.4% upside

Undervalued by 15.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$40.01 Billion
Enterprise Value$45.05 Billion
Dividend Yield$1.75 (1.22%)
Earnings per Share$11.62
Beta1.36
Outstanding Shares287,500,000

Return

Return on Equity12.82%ROE
Return on Assets8.37%
Return on Invested Capital12.36%

Valuation & Multiples

P/E Ratio13.59P/E Ratio
PEG-116.29PEG
Price to Sales1.24Price to Sales
Price to Book Ratio1.7Price to Book Ratio
Enterprise Value to Revenue1.35
Enterprise Value to EBIT11.57
Enterprise Value to Net Income14
Total Debt to Enterprise0.16
Debt to Equity0.3Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 28, 2026
EPS Estimate
$2.89
Average shareholder expectation
Revenue Estimate
$9.07 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 27, 2026
EPS Estimate
$3.07
Average shareholder expectation
Revenue Estimate
$9.11 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000 125.59%
Total Calls- 100.00%
Total Puts81,500 96.43%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %5.87% 78.48%
Total Invested$4.18B 87.43%
Investors Holding478 721.00%

ESG Score

No data

About D.R. Horton Inc.

7,735 employees
CEO: David Auld

D.R. Horton, Inc., America's Builder, has been the largest homebuilder by volume in the United States since 2002. Founded in 1978 in Fort Worth, Texas, D.R. Horton has operations in 88 markets in 29 states across the United States and cl...

Relevant Senate Committees

Joint Committee on Taxation

As the non-partisan committee responsible for scoring all tax legislation, its analysis directly informs and shapes the tax laws passed by Congress. Given that tax policy (corporate and individual) is a critical driver for D.R. Horton's profitability and customer affordability, this committee's influence is direct and substantial, albeit advisory.

Finance

This is a highly influential committee controlling taxation, trade, and entitlement spending. Its decisions on corporate tax policy directly impact D.R. Horton's profitability, while individual tax policies (e.g., mortgage interest deduction, property taxes) significantly affect housing affordability and demand for its homes.

Appropriations

This committee directly allocates discretionary federal spending. Its subcommittees determine funding for critical infrastructure projects (roads, utilities, schools) and community development, which are essential for opening new residential markets and directly impact the feasibility and desirability of D.R. Horton's developments.

Banking, Housing, and Urban Affairs

This committee is critically important as it regulates the entire financial system, including HUD (housing policy), the Federal Reserve (interest rates, mortgage lending), and the SEC (corporate finance for publicly traded companies like DHI). It directly influences mortgage availability, capital requirements for banks (which affect DHI's mortgage subsidiary), and broad real estate market conditions.

Environment and Public Works

This committee directly regulates the EPA and federal highway programs. EPA regulations (e.g., wetlands, environmental impact) heavily influence land development costs and availability for homebuilders. Federal highway and infrastructure programs are crucial for opening new residential development areas, directly benefiting D.R. Horton's operations.