D R Horton Stock Price, News & Analysis

D.R. Horton, Inc. (NYSE: DHI), known as "America’s Builder," is a U.S. homebuilding company with operations in 126 markets across 36 states. According to its public disclosures and recent news releases, the company is engaged in the construction and sale of homes across a diverse product portfolio, with sales prices generally ranging from $250,000 to over $1,000,000. D.R. Horton also constructs and sells both single-family and multi-family rental properties and provides mortgage financing, title services and insurance agency services for its homebuyers. The company is based in Arlington, Texas and has been the largest homebuilder by volume in the United States since 2002.

D.R. Horton’s core business is its homebuilding operations, where it closes tens of thousands of homes each year in its fiscal periods. In its fiscal year ended September 30, 2025, the company reported home sales revenues on 84,863 homes closed in its homebuilding operations, as well as additional closings in its rental operations. The company highlights that it serves a diverse customer base and focuses on affordability, particularly for entry-level, first-time and first-time move-up homebuyers, while still offering homes at higher price points within its broad product range.

Beyond traditional homebuilding, D.R. Horton has developed rental operations that involve constructing and selling single-family rental homes and multi-family rental units. In its fiscal 2025 disclosures, the company reported activity in both single-family and multi-family rental properties, including thousands of rental homes and units sold over trailing twelve-month periods. These rental activities are reported as a distinct segment alongside homebuilding and financial services.

The company also operates a financial services segment that provides mortgage financing, title services and insurance agency services to its homebuyers. In its fiscal 2025 results, D.R. Horton reported financial services revenues and pre-tax income with stated pre-tax profit margins, indicating that this segment supports the homebuilding business by facilitating home purchases and related transactions.

D.R. Horton is the majority-owner of Forestar Group Inc. (NYSE: FOR), a publicly traded residential lot development company. Forestar is described in multiple news releases as a residential lot development company with operations in dozens of markets and states, and as a majority-owned subsidiary of D.R. Horton. Forestar develops residential lots that are sold to D.R. Horton and to other customers, and D.R. Horton’s filings and earnings releases consolidate Forestar’s results, with the portion not owned by D.R. Horton reported as noncontrolling interests.

According to the company’s definitive proxy statement and earnings releases, D.R. Horton emphasizes its purpose of enabling more customers to achieve the dream of homeownership. The company notes that it has closed more than 1.2 million homes over its multi-decade history and that, in a recent fiscal year, its homebuilding and rental operations together provided housing to more than 91,200 households. The proxy statement also notes that D.R. Horton has completed 24 consecutive fiscal years as the largest homebuilder in the United States by volume.

D.R. Horton’s disclosures describe a business with national scale and multiple segments. In addition to homebuilding, rental operations, financial services and the consolidated Forestar segment, the company reports measures such as return on assets, return on equity, homebuilding pre-tax return on inventory, and debt to total capital. The proxy statement notes that over multi-year periods, D.R. Horton’s return on assets and total shareholder returns rank within the top 20% of S&P 500 companies, based on its internal calculations.

The company’s capital allocation approach, as described in its earnings releases and proxy statement, includes returning cash to stockholders through share repurchases and dividends. In fiscal 2025, D.R. Horton reported billions of dollars of operating cash flow and stockholder distributions through repurchases and dividends. The board also approved increases in the quarterly cash dividend, and the company highlights a multi-year record of dividend growth.

D.R. Horton’s securities are listed on major U.S. exchanges. Its common stock, with par value $.01 per share, trades under the symbol DHI on the New York Stock Exchange. The company has also announced a dual listing of its common stock on NYSE Texas, a fully electronic equities exchange, while maintaining its primary listing on the New York Stock Exchange. In addition, certain senior notes, including 5.000% senior notes due 2034, are listed on the New York Stock Exchange. SEC filings confirm that D.R. Horton is not an emerging growth company.

In its proxy statement, D.R. Horton describes its corporate governance framework, including a board of directors, board committees, and an annual meeting of stockholders. The proxy materials outline proposals such as the election of directors, an advisory vote on executive compensation, and ratification of the appointment of the independent registered public accounting firm. The company also discusses its approach to compensation, use of performance metrics, and analysis of compensation-related risk.

From an operational perspective, D.R. Horton reports on its inventory of homes and lots, cancellation rates, sales order backlog, and land and lot portfolio. For example, the company discloses the number of homes in inventory, the proportion of unsold homes, and the number of lots owned or controlled through land and lot purchase contracts. It also notes the percentage of homes closed on lots developed by Forestar or third parties, underscoring the integration between its homebuilding operations and its majority-owned lot development subsidiary.

According to its filings and news releases, D.R. Horton’s business is influenced by housing market conditions, including affordability constraints and consumer sentiment. The company notes that it uses sales incentives and adjusts pricing and pace of sales in response to market conditions, while emphasizing a disciplined approach aimed at maximizing returns in each community and project.

Overall, D.R. Horton presents itself in its public disclosures as a large, multi-segment homebuilding company focused on constructing and selling homes and rental properties, providing related financial services, and sourcing lots through its majority-owned residential lot development subsidiary. Its long history as the largest U.S. homebuilder by volume, broad geographic footprint, and integrated housing-related services are central themes in its official communications.