DHI financial statements

The full income statement, balance sheet, and cash-flow statement for D.R. Horton Inc. (DHI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofSep 30 ’25	as ofSep 30 ’24	as ofSep 30 ’23	as ofSep 30 ’22	as ofSep 30 ’21
Revenue	34.3B YoY-6.9%	36.8B YoY+3.8%	35.5B YoY+5.9%	33.5B YoY+20.5%	27.8B YoY+36.7%
Cost of revenue	26.1B YoY-4.2%	27.3B YoY+4.4%	26.1B YoY+13.6%	23.0B YoY+15.5%	19.9B YoY+29.4%
Selling, general & administrative	3.69B YoY+2.6%	3.60B YoY+10.8%	3.25B YoY+10.7%	2.93B YoY+14.8%	2.56B YoY+24.8%
Other non-operating income	316M YoY-9.5%	349M YoY+63.7%	213M YoY+259.4%	59.3M YoY+42.5%	41.6M YoY+24.6%
Equity-method income	—	—	—	—	1.00M YoY+42.9%
Pre-tax income	4.74B YoY-24.6%	6.28B YoY-0.5%	6.31B YoY-17.2%	7.63B YoY+42.4%	5.36B YoY+79.6%
Income tax	1.12B YoY-24.3%	1.48B YoY-2.7%	1.52B YoY-12.4%	1.73B YoY+48.8%	1.17B YoY+93.4%
	3.59B YoY-24.6%	4.76B YoY+0.2%	4.75B YoY-19.0%	5.86B YoY+40.3%	4.18B YoY+75.9%
Net income to non-controlling interest	35.7M YoY-28.0%	49.6M YoY+0.2%	49.5M YoY+29.9%	38.1M YoY+147.4%	15.4M YoY+126.5%
	$11.57 YoY-19.3%	$14.34 YoY+3.8%	$13.82 YoY-16.3%	$16.51 YoY+44.7%	$11.41 YoY+78.0%
EPS (basic)	$11.62 YoY-19.5%	$14.44 YoY+3.7%	$13.93 YoY-16.3%	$16.65 YoY+44.0%	$11.56 YoY+78.1%
	309M YoY-6.4%	330M YoY-3.3%	341M YoY-3.1%	352M YoY-2.6%	361M YoY-1.2%
	310M YoY-6.5%	332M YoY-3.4%	343M YoY-3.2%	355M YoY-3.0%	366M YoY-1.2%
Dividends per share	$1.60 YoY+33.3%	$1.20 YoY+20.0%	$1.00 YoY+11.1%	$0.90 YoY+12.5%	$0.80 YoY+14.3%
Balance Sheet	as ofSep 30 ’25	as ofSep 30 ’24	as ofSep 30 ’23	as ofSep 30 ’22	as ofSep 30 ’21
Cash & equivalents	2.99B YoY-33.9%	4.52B YoY+16.6%	3.87B YoY+52.5%	2.54B YoY-20.9%	3.21B YoY+6.4%
	35.5B YoY-1.8%	36.1B YoY+10.8%	32.6B YoY+7.4%	30.4B YoY+26.4%	24.0B YoY+27.0%
Property, plant & equipment	579M YoY+9.0%	531M YoY+19.2%	445M YoY-5.6%	472M YoY+20.0%	393M YoY-42.5%
Operating lease right-of-use	63.0M YoY+22.6%	51.4M YoY+10.3%	46.6M YoY+0.0%	46.6M YoY+30.9%	35.6M YoY+2.6%
Goodwill	164M YoY+0.0%	164M YoY+0.0%	164M YoY+0.0%	164M YoY+0.0%	164M YoY+0.0%
Deferred tax assets	44.5M YoY-73.4%	168M YoY-10.5%	187M YoY+32.7%	141M YoY-9.1%	155M YoY+7.2%
	10.7B YoY+4.4%	10.3B YoY+8.8%	9.44B YoY-10.6%	10.6B YoY+20.1%	8.80B YoY+29.6%
Deferred tax liabilities	0.00	—	—	—	—
	24.2B YoY-4.4%	25.3B YoY+11.5%	22.7B YoY+17.0%	19.4B YoY+30.3%	14.9B YoY+25.7%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+2.6%
Additional paid-in capital	3.58B YoY+2.4%	3.49B YoY+1.7%	3.43B YoY+2.5%	3.35B YoY+2.3%	3.27B YoY+1.0%
Retained earnings	31.0B YoY+11.1%	28.0B YoY+18.5%	23.6B YoY+23.0%	19.2B YoY+40.6%	13.6B YoY+39.8%
Treasury stock	10.4B YoY+70.1%	6.13B YoY+41.6%	4.33B YoY+37.8%	3.14B YoY+54.3%	2.04B YoY+75.2%
Non-controlling interest	552M YoY+7.9%	512M YoY+15.8%	442M YoY+13.5%	389M YoY+18.1%	330M YoY+17.1%
Total equity incl. non-controlling	24.7B YoY-4.2%	25.8B YoY+11.6%	23.1B YoY+16.9%	19.8B YoY+30.0%	15.2B YoY+25.5%
Total liabilities & equity	35.5B YoY-1.8%	36.1B YoY+10.8%	32.6B YoY+7.4%	30.4B YoY+26.4%	24.0B YoY+27.0%
	404M YoY+0.3%	403M YoY+0.4%	401M YoY+0.5%	399M YoY+0.5%	397M YoY+0.6%
	294M YoY-9.1%	324M YoY-3.2%	335M YoY-2.6%	344M YoY-3.4%	356M YoY-2.2%
	292M YoY-9.1%	321M YoY-3.6%	333M YoY-3.2%	344M YoY-3.4%	357M YoY-2.2%
Cash Flow	as ofSep 30 ’25	as ofSep 30 ’24	as ofSep 30 ’23	as ofSep 30 ’22	as ofSep 30 ’21
	3.42B YoY+56.2%	2.19B YoY-49.1%	4.30B YoY+666.1%	562M YoY+5.1%	534M YoY-62.4%
Depreciation & amortization	101M YoY+16.3%	87.1M YoY-4.9%	91.6M YoY+12.5%	81.4M YoY-0.9%	82.1M YoY-9.4%
Share-based compensation	131M YoY+10.9%	118M YoY+6.2%	111M YoY+5.8%	105M YoY+15.0%	91.4M YoY+17.5%
Deferred income taxes	123M YoY+548.4%	19.0M YoY+141.4%	-45.9M YoY-257.7%	29.1M YoY+391.0%	-10.0M YoY-170.9%
	-169M YoY+11.5%	-191M YoY+38.6%	-310M YoY+25.2%	-415M YoY-64.5%	-252M YoY-51.8%
Capital expenditure	137M YoY-16.9%	165M YoY+11.2%	149M YoY+0.3%	148M YoY+58.5%	93.5M YoY-3.1%
Free cash flow	3.28B YoY+62.2%	2.02B YoY-51.3%	4.16B YoY+904.7%	414M YoY-6.2%	441M YoY-66.7%
Acquisitions	53.1M YoY+31.4%	40.4M YoY-81.0%	213M YoY-21.6%	272M YoY+1008.2%	24.5M YoY+152.6%
Other investing activities	1.10M YoY-74.4%	4.30M YoY+514.3%	700K YoY+114.6%	-4.80M YoY-128.6%	-2.10M YoY-250.0%
	-4.76B YoY-251.4%	-1.36B YoY+49.2%	-2.67B YoY-228.7%	-811M YoY-853.2%	-85.1M YoY-131.4%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00 YoY-100.0%	19.7M	0.00 YoY-100.0%	1.70M YoY-94.9%	33.5M
Common stock repurchased	4.30B YoY+138.9%	1.80B YoY+50.0%	1.20B YoY+9.1%	1.10B YoY+25.9%	874M YoY+142.5%
Dividends paid	495M YoY+25.2%	395M YoY+15.8%	341M YoY+7.8%	317M YoY+9.4%	289M YoY+13.0%
Other financing activities	55.5M YoY+334.2%	-23.7M YoY+56.8%	-54.8M YoY-160.0%	91.4M YoY+3908.3%	-2.40M YoY+52.9%
Net change in cash	-1.51B YoY-334.6%	644M YoY-51.5%	1.33B YoY+299.8%	-664M YoY-437.0%	197M YoY-87.1%
Income taxes paid	1.02B YoY-38.9%	1.67B YoY+15.8%	1.44B YoY-15.2%	1.70B YoY+49.5%	1.14B YoY+95.7%
Valuation Ratios	as ofSep 30 ’25	as ofSep 30 ’24	as ofSep 30 ’23	as ofSep 30 ’22	as ofSep 30 ’21
Market cap	49.5B YoY-19.2%	61.3B YoY+68.5%	36.4B YoY+56.8%	23.2B YoY-22.5%	29.9B YoY+8.6%
P/E	13.8× YoY+7.2%	12.9× YoY+72.5%	7.5× YoY+88.6%	4.0× YoY-44.8%	7.2× YoY-38.2%
P/S	1.4× YoY-13.2%	1.7× YoY+58.4%	1.1× YoY+51.7%	0.7× YoY-35.7%	1.1× YoY-20.6%
P/B	2.0× YoY-15.5%	2.4× YoY+44.2%	1.7× YoY+40.4%	1.2× YoY-40.5%	2.0× YoY-13.6%
P/FCF	15.1× YoY-50.2%	30.3× YoY+169.5%	11.2× YoY-80.0%	56.1× YoY-17.4%	67.9× YoY+226.5%
	7.2% YoY-6.7%	7.8% YoY-42.0%	13.4% YoY-47.0%	25.3% YoY+81.1%	13.9% YoY+61.9%
	6.6% YoY+100.8%	3.3% YoY-62.9%	8.9% YoY+399.3%	1.8% YoY+21.1%	1.5% YoY-69.4%
	0.94% YoY+50.1%	0.63% YoY-32.4%	0.93% YoY-30.4%	1.3% YoY+40.3%	0.95% YoY+2.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: DHI's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all DHI filings on SEC EDGAR → Not investment advice.