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D.R. Horton (DHI)
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D.R. Horton Income Statement 2025-2007 | DHI
Brief overview of income trends at D.R. Horton
This overview is based on financial performance over the past five years. Revenue reported by D.R. Horton was $20.3 billion at the beginning of the period and $34.3 billion at the end. Across the full period, sales moved by +68.6%; the average annual rate was 11%. Revenue followed a strong upward trend without signs of stagnation.
At the gross-profit level, the result moved from 4.9 billion dollars to 8.1 billion dollars, a change of +64.4%. Cost of revenue moved broadly in line with sales. Gross profit as a share of revenue changed from 24.3% to 23.7%. The gross margin stayed within a similar range.
EBITDA changed from 90.6 million dollars to 101 million dollars (+11.8%). EBITDA underperformed the top-line trend. EBITDA margin moved from 0.4% to 0.3%. EBITDA as a share of revenue remained steady.
The five-year change in net income was +51%: from $2.4 billion to $3.6 billion. Net earnings remained broadly steady over the period.
Market value was 27.4 billion dollars at the start and 42.4 billion dollars at the end. Higher capitalization indicates improving investor confidence.
What the figures show
Positive developments coexist with areas of weakness. The constructive conclusion rests on a larger revenue base, a stable gross margin and net-income growth. Caution is warranted because of a narrow EBITDA buffer. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement D.R. Horton
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
42.4 B | 53.4 B | 43.6 B | 28.7 B | 30.7 B | 27.4 B | 19.4 B | 13.7 B | 16.6 B | 10.6 B | 10.8 B | 7.77 B | 6.29 B | 6.6 B | 3.7 B | 3.74 B | 2.93 B | 3.97 B | 7.24 B |
Shares |
308 M | 330 M | 341 M | 352 M | 361 M | 366 M | 373 M | 377 M | 374 M | 371 M | 366 M | 340 M | 322 M | 318 M | 318 M | 318 M | 317 M | 317 M | 315 M |
Historical Prices |
138 | 162 | 128 | 81.5 | 85 | 75.8 | 52 | 37.5 | 39.9 | 30.1 | 24.8 | 25.1 | 22.2 | 20 | 12.8 | 11.8 | 9.25 | 12.5 | 23 |
Net Income |
3.59 B | 4.76 B | 4.75 B | 5.86 B | 4.18 B | 2.37 B | 1.62 B | 1.46 B | 1.04 B | 886 M | 751 M | 534 M | 463 M | 956 M | 71.8 M | 245 M | -550 M | -2.63 B | - |
Revenue |
34.3 B | 36.8 B | 35.5 B | 33.5 B | 27.8 B | 20.3 B | 17.6 B | 16.1 B | 14.1 B | 12.2 B | 10.8 B | 8.02 B | 6.26 B | 4.35 B | 3.64 B | 788 M | 1.13 B | - | - |
Cost of Revenue |
26.1 B | 27.3 B | 26.1 B | 23 B | 19.9 B | 15.4 B | 13.7 B | 12.4 B | 11 B | 9.5 B | - | - | - | - | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | - | 3.87 B | 3.67 B | 3.05 B | 2.65 B | 2.29 B | 1.76 B | 1.41 B | 862 M | 614 M | 110 M | 188 M | - | - |
Interest Expense |
316 M | 349 M | 213 M | 59.3 M | 41.6 M | 33.4 M | 31.9 M | - | 25.5 M | 21.7 M | - | - | -7.1 M | -26.9 M | -51.9 M | - | - | - | - |
EBITDA |
101 M | 87.1 M | 91.6 M | 81.4 M | 82.1 M | 90.6 M | 2.11 B | 2.06 B | 1.63 B | 1.4 B | 1.16 B | 829 M | 662 M | 266 M | 74.3 M | 18.4 M | 25.7 M | 53.2 M | - |
Operating Expenses |
- | - | - | - | - | - | 1.83 B | 1.68 B | 1.47 B | 1.32 B | 1.19 B | 965 M | 766 M | 614 M | 559 M | - | - | - | - |
General and Administrative Expenses |
3.69 B | 3.6 B | 3.25 B | 2.93 B | 2.56 B | 2.05 B | 1.83 B | 1.68 B | 1.47 B | 1.32 B | 1.19 B | 965 M | 766 M | 614 M | 556 M | - | - | - | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement D.R. Horton
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
282 M | 288 M | 288 M | 294 M | 304 M | 312 M | 322 M | 324 M | 328 M | 331 M | 333 M | 335 M | 340 M | 342 M | 344 M | 344 M | 351 M | 353 M | 356 M | 356 M | 360 M | 362 M | 364 M | 366 M | 364 M | 364 M | 368 M | 374 M | 372 M | 368 M | 375 M | 377 M | 377 M | 375 M | 376 M | 374 M | 375 M | 376 M | 373 M | 370 M | 372 M | 373 M | 369 M | 366 M | 367 M | 369 M | 365 M | 332 M | 350 M | 365 M | 323 M | 322 M | 323 M | 323 M | 321 M | 318 M | 319 M | 321 M | 316 M | 319 M | 319 M | 316 M | 318 M |
Net Income |
905 M | 648 M | 648 M | - | 1.02 B | 810 M | 845 M | - | 1.35 B | 1.17 B | 947 M | - | 1.34 B | 942 M | 959 M | - | 1.65 B | 1.44 B | 1.15 B | - | 1.12 B | 930 M | 792 M | 829 M | 631 M | 792 M | 431 M | 505 M | 475 M | 431 M | 287 M | 466 M | 454 M | 287 M | 189 M | 313 M | 289 M | 189 M | 207 M | 284 M | 250 M | 207 M | 158 M | 239 M | 221 M | 158 M | 142 M | 166 M | 113 M | 142 M | 123 M | 140 M | 146 M | 123 M | 66.3 M | 100 M | 788 M | 66.3 M | 27.7 M | 35.7 M | 28.7 M | 27.7 M | 50.5 M |
Revenue |
9.23 B | 7.56 B | 7.56 B | - | 9.23 B | 7.73 B | 7.61 B | - | 9.97 B | 9.11 B | 7.73 B | - | 9.73 B | 7.97 B | 7.26 B | - | 8.79 B | 8 B | 7.05 B | - | 7.28 B | 6.45 B | 5.93 B | 6.4 B | 5.39 B | 5.93 B | 4.02 B | 5.04 B | 4.91 B | 4.02 B | 3.52 B | 4.51 B | 4.44 B | 3.52 B | 3.33 B | 4.16 B | 3.78 B | 3.33 B | 2.9 B | 3.74 B | 3.23 B | 2.9 B | 2.42 B | 3.17 B | 2.95 B | 2.42 B | 2.3 B | 2.47 B | 2.15 B | 2.3 B | 1.67 B | 1.86 B | 1.69 B | 1.67 B | 1.28 B | 1.34 B | 1.15 B | 1.28 B | 907 M | 1.1 B | 999 M | 907 M | - |
Cost of Revenue |
7.08 B | 5.85 B | 5.85 B | - | 7.02 B | 5.83 B | 5.7 B | - | 7.32 B | 6.77 B | 5.72 B | - | 7.14 B | 6 B | 5.29 B | - | 5.88 B | 5.43 B | 4.91 B | - | 5.21 B | 4.65 B | 4.33 B | 10.6 B | 4.08 B | 4.33 B | 3.08 B | 9.84 B | 3.83 B | 3.08 B | 2.75 B | 8.94 B | 3.4 B | 2.75 B | 2.58 B | 7.78 B | 2.96 B | 2.58 B | 2.27 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 160 M | 151 M | 105 M | - |
Interest Expense |
71.2 M | 67.4 M | 67.4 M | - | 93.2 M | 65.6 M | 77.8 M | - | 80.6 M | 76.2 M | 76.3 M | - | 52.2 M | 42.2 M | 37.7 M | - | 15.1 M | 9.3 M | 15.5 M | - | 17.4 M | 5.4 M | 5.3 M | 26.4 M | 4.6 M | 5.3 M | 11.5 M | 23.7 M | 9.4 M | 11.5 M | 8.6 M | - | - | - | - | 19 M | 3.7 M | - | 7.7 M | - | - | - | - | - | - | - | - | - | - | - | - | 7.1 M | - | 3 M | -4.2 M | -21.1 M | -6.9 M | 4.2 M | 7.8 M | - | 10.1 M | - | - |
EBITDA |
84.8 M | 55.8 M | - | - | - | - | 24.1 M | - | - | - | 20 M | - | - | - | 19.8 M | - | - | - | 19.4 M | - | 44.1 M | 17 M | 22.9 M | 57.4 M | 38.8 M | 20.4 M | 19 M | 52.4 M | 34.1 M | 19 M | 16.9 M | 46.6 M | 33.1 M | 16.9 M | 16.2 M | 40.4 M | 27.3 M | 16.2 M | 14.4 M | 41.4 M | 27.6 M | 14.4 M | 13.6 M | 39.7 M | 25.4 M | 13.6 M | 12.3 M | 26.6 M | 16.7 M | 12.3 M | 7.8 M | 16 M | 10.1 M | 7.8 M | 4.8 M | 14.4 M | 9.8 M | - | 5 M | 14.9 M | 9.9 M | 5 M | 12.7 M |
General and Administrative Expenses |
991 M | 903 M | 903 M | - | 944 M | 899 M | 878 M | - | 924 M | 881 M | 835 M | - | 852 M | 774 M | 737 M | - | 741 M | 695 M | 666 M | - | 656 M | 622 M | 586 M | 1.45 B | 528 M | 586 M | 456 M | 1.33 B | 480 M | 456 M | 403 M | 1.22 B | 435 M | 403 M | 384 M | 1.06 B | 374 M | 384 M | 326 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company D.R. Horton (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.