D.R. Horton Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34.25B | $38.11B | $35.40B | $33.48B | $28.12B | $20.99B | $17.53B | $16.07B |
| Homebuilding | — | $37.38B | $34.73B | — | $27.27B | $20.40B | $17.06B | — |
| Financial Services | — | $730.0M | $670.0M | — | $850.0M | $590.0M | $470.0M | — |
| Multifamily | — | $0 | $0 | — | $0 | $0 | $0 | — |
| Cost of Revenue | $26.13B | $27.27B | $26.11B | $22.98B | $19.90B | $15.37B | $13.72B | $12.40B |
| Gross Profit | $8.12B | $10.84B | $9.29B | $10.50B | $8.22B | $5.62B | $3.81B | $3.67B |
| Gross Margin | 23.7% | 28.5% | 26.2% | 31.4% | 29.2% | 26.8% | 21.7% | 22.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $3.69B | $3.60B | $3.25B | $2.93B | $2.56B | $2.05B | $1.83B | $1.68B |
| Operating Income | $4.74B | $6.28B | $6.31B | $7.63B | $5.36B | $2.98B | $2.13B | $2.06B |
| Operating Margin | 13.8% | 16.5% | 17.8% | 22.8% | 19.0% | 14.2% | 12.1% | 12.8% |
| Interest Expense | — | — | — | — | — | — | — | $0 |
| Pretax Income | $4.74B | $6.28B | $6.31B | $7.63B | $5.36B | $2.98B | $2.13B | $2.06B |
| Income Tax Expense | $1.12B | $1.48B | $1.52B | $1.73B | $1.17B | $602.5M | $506.7M | $597.7M |
| Net Income | $3.59B | $4.76B | $4.75B | $5.86B | $4.18B | $2.37B | $1.62B | $1.46B |
| Net Margin | 10.5% | 12.5% | 13.4% | 17.5% | 14.8% | 11.3% | 9.2% | 9.1% |
| EPS (Basic) | $11.62 | $14.44 | $13.93 | $16.65 | $11.56 | $6.49 | $4.34 | $3.88 |
| EPS (Diluted) | $11.57 | $14.34 | $13.82 | $16.51 | $11.41 | $6.41 | $4.29 | $3.81 |
| Shares Outstanding (Basic) | 308.5M | 329.5M | 340.7M | 351.7M | 361.1M | 365.5M | 372.6M | 376.6M |
| Shares Outstanding (Diluted) | 309.9M | 331.6M | 343.3M | 354.8M | 365.8M | 370.2M | 377.4M | 383.4M |
| Dividends Per Share | $1.60 | $1.20 | $1.00 | $0.90 | $0.80 | $0.70 | $0.60 | $0.50 |