HORTON D R INC /DE/ · Operative Builders

DHI

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The short version

A high-quality, profitable business with steady sales.

Going well

Profitable every year for 10 years
Brings in more cash than it spends
Buying back shares: share count down 13% in 3 years

Money moves

No insider buying or selling in the last 30 days
Institutions added 0.2% to their holdings in the quarter ending June 2026 (640 bought, 493 sold)
Held by Warren Buffett (Berkshire Hathaway), Ray Dalio (Bridgewater), Stanley Druckenmiller (Duquesne)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$146.50-0.6% that day

Company value: $41.0B; Share price times all shares
Price vs profit (P/E): 13.9x; You pay about $14 for each $1 of yearly profit
Price vs sales: 1.2x; Company value is 1.2 times a year of sales
Dividend yield: 1.1%; Yearly dividend as a share of today's price
Cash vs value: 5%; Cash as a share of company value
Debt vs value: 14%; Debt as a share of company value

From DHI's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$9.2B+0.0% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $33.3B, down 3.5% from the 12 months before. Over 5 years, sales grew about 11% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of DHI. Starting points are the company's recent numbers.

Sales growth-4% a yearRecently: -3.5% a yearProfit margin9%Last 12 months: 9.2%P/E at the end14xToday: 13.9x. Many steady companies trade at 12x to 25xShare count change-4% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$27.2B

Profit in 5 years$2.4B

Price these guesses point to$150.23+2.5% vs $146.50 todayAbout +0.5% a year, before dividends

What today's price needs: with a 9% margin and a 14x P/E, sales could shrink about 4.5% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/6Strong

MissReturn on equity 15%+Earns a lot on the money owners have in the business.14.7%
PassDebt under half of equityNot relying on borrowed money.0.23x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.10.5%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$3.3B
PassShare count not growingNot diluting owners. Falling means buybacks.-12.7% in 3 years

Revenue: $34.3B; -6.9% vs prior year
5-year growth: +11.0%/yr; revenue, per year
Total debt: $5.5B; 0.23x equity
Free cash flow: $3.3B; 9.6% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Jul 21

Revenue: $9.2B; 0.0% YoY
EPS: $3.20; vs $3.36
Gross margin: 23.3%; -0.6 pts
Free cash flow: $397.3M
Share count: -7.2%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

62/ 100

This week: 1
Normal week: 0.6
vs normal: 1.6x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+0.2%

Institutions added 0.2% to their holdings. 640 bought, 493 sold.

Shares held by institutions242.2M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-6.1%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.3x · $7.1B debt

Shares outstandingLatest reported

280M

Earnings reports

Last 12

Next reportIn 0 days (est.)Estimated from the same quarter last year

Results filedJul 21
Results filedApr 21
Results filedJan 20
Results filedOct 28, 2025
Results filedJul 22, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Aug 10 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Leadership changeOct 26 · Form 8-K ↗Other company newsSep 15 · Form 8-K ↗

GiftMichael J MurrayEVP and COO

5,000 shares

+4% of holdings
Now owns 123,968 shares
Filed 2 days after trade

Sep 8Form 4 ↗

Option exerciseM Chad CrowDirector

264 shares

+38% of holdings
Now owns 951 shares
Filed same day

Aug 26Form 4 ↗

Option exerciseElaine D CrowleyDirector

264 shares

+48% of holdings
Now owns 817 shares
Filed same day

Aug 26Form 4 ↗

Option exerciseBarbara SmithDirector

264 shares

+48% of holdings
Now owns 817 shares
Filed same day

Aug 26Form 4 ↗

5%+ holder update (passive)Aug 10 · Form SCHEDULE 13G/A ↗5%+ holder update (passive)Jul 27 · Form SCHEDULE 13G/A ↗Quarterly reportJul 23 · Form 10-Q ↗Earnings resultsJul 21 · Form 8-K ↗Major agreementMay 12 · Form 8-K ↗New 5%+ holder (passive)Apr 29 · Form SCHEDULE 13G ↗Quarterly reportApr 23 · Form 10-Q ↗

Option exerciseDavid V AuldExecutive Chairman, Director

7,016 shares

+1% of holdings
Now owns 942,862 shares
Filed 2 days after trade
Also: Stock award, Shares withheld for taxes

Apr 20Form 4 ↗

Option exercisePaul J RomanowskiPresident and CEO, Director

2,370 shares

+1% of holdings
Now owns 199,347 shares
Filed 2 days after trade
Also: Stock award, Shares withheld for taxes

Apr 20Form 4 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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