D.R. Horton (DHI)
Builds US homes while developing lots, rental communities, and buyer financing services.
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Builds and sells mostly single-family homes across the United States, with rental property sales, majority-owned Forestar lot development, and mortgage and title services alongside the core business. Decentralized local divisions operate within centralized land, capital, purchasing, and risk controls.
Builds and sells mostly single-family homes across the United States, with offerings for first-time, move-up, active-adult, and luxury buyers. Homebuilding supplies most revenue, while rental operations develop single-family communities and apartments for eventual sale. Majority-owned Forestar develops residential lots, and DHI Mortgage plus title subsidiaries support home purchases.
Runs homebuilding through decentralized local divisions, while regional and corporate teams centralize land approvals, capital allocation, purchasing, and cost controls. Scale, common plans, speculative inventory, and flexible lot contracts support pace and efficiency across markets. Results remain tied to mortgage affordability and buyer demand, along with land and lot availability, subcontractor labor and materials, and local permitting.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | BTIG | Reiterate | Rating: —Target: $184 | Target: $174 |
| Sep 11, 2026 | Wells Fargo | Reiterate | Rating: —Target: $158 | Target: $145 |
| Jul 22, 2026 | BTIG | Target | Target: $182 | Target: $184 |
| Jul 14, 2026 | Barclays | Reiterate | Rating: —Target: $129 | Target: $141 |
| Jul 7, 2026 | Zelman | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.08B · Total debt $7.18B · Total assets $36.51B · Shareholders' equity $23.82B
- Revenue
- $9.23B
- Operating income
- $1.23B
- Net income
- $904.9M
HistoryDividendAnnual yield
| Institutions | 87.31% | 244.22M shares | |
|---|---|---|---|
| 1,294 holders · as of Jun 30, 2026 | |||
| Insiders | 0.61% | 1.72M shares | |
| 12 holders · as of Sep 10, 2026 | |||
| Other | 12.08% | 33.76M shares | |
| remainder | |||
279.70M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Capital World InvestorsInstitution | 13.33% | 37.28M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 8.93% | 24.97M | as of Jun 30, 2026 |
Sanders Capital, LLCInstitution | 8.46% | 23.65M | filed Feb 1, 2017 |
Vanguard Capital Management LLCInstitution | 6.06% | 16.94M | as of Jun 30, 2026 |
Horton Family Limited PartnershipInstitution | 5.95% | 16.65M | filed Feb 14, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 3, 2024 | Michael J. Murray | officer: EVP and COO | −120 | $148.97 |
| Feb 13, 2026 | Aron M. Odom | officer: SVP, Controller and PAO | −260 | $167.55 |
- Lennar
Neck-and-neck volume rival across every price tier and geography.
- PulteGroup
Multi-brand rival with dominant active-adult franchise and superior margins.
- NVR
Asset-light rival with industry-leading ROE and dominant Mid-Atlantic share.
- Meritage Homes
Fifth-largest builder — entry-level spec rival across shared Sunbelt states.
- KB Home
Built-to-order rival targeting the same first-time affordability tier.
- Toll Brothers
America's luxury builder — competes with Emerald Homes and active-adult.
- LGI Homes
Pure-play affordable builder competing directly with DHI's Express Homes brand.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| D.R. Horton | $142.49 | −1.13% | $40.31B | 13.7 | 12.8 | 1.2 | +0.0% |
| Lennar | $82.88 | −0.22% | $20.62B | 15.7 | 17.0 | 0.6 | −9.0% |
| PulteGroup | $120.48 | −1.48% | $23.60B | 12.6 | 11.3 | 1.4 | −9.6% |
| NVR | $6,294.41 | −0.70% | $17.11B | 16.5 | 16.3 | 1.8 | −10.6% |
| Meritage Homes | $65.45 | −1.44% | $4.43B | 13.9 | 12.1 | 0.8 | −14.3% |
| KB Home | $48.24 | −0.72% | $2.98B | 13.7 | 11.3 | 0.6 | −20.0% |
| Toll Brothers | $137.85 | +0.20% | $12.86B | 11.0 | 10.1 | 1.2 | −9.7% |
| LGI Homes | $50.59 | −3.10% | $1.21B | 18.3 | 15.3 | 0.7 | +6.7% |
| Median | 13.9 | 12.1 | 0.8 | −9.7% |