Horton D R Inc

Consumer Discretionary
Homebuilding
www.drhorton.com

Earnings Score
Moat Score

Market Cap $40.02B
PE 9
Debt -
Cash $3.07B
EV -
FCF $2.86B

Earnings

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Sales & Net Margins

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Earnings	$4.65B
EBIT	$6.15B
ROE	18%
ROA	18%
FCF	$2.86B
Equity	$25.46B
Growth Stability	97%
PE	8.6
PEG	0.44
PB	1.57
P/FCF	14
P/S	1.09
Price/Cash	0.08
Net Margins	11%
Gross Margins	26%
Op. Margins	17%
Earnings CAGR	29%
Sales Growth YoY	-1%
Sales Growth QoQ	-24%
Sales CAGR	16%
FCF CAGR	23%
Equity CAGR	19%
Earnings Stability	0.92
Earnings Growth YoY	-11%

Earnings Growth QoQ	-34%
Earnings CAGR 5Y	19%
Sales CAGR 5Y	16%
FCF CAGR 5Y	32%
Equity CAGR 5Y	22%
Earnings CAGR 3Y	7%
Sales CAGR 3Y	7%
FCF CAGR 3Y	52%
Equity CAGR 3Y	15%
Market Cap	$40.02B
Revenue	$36.69B
Dividend Yield	1%
Payout Ratio	9%
Assets	$35.03B
Cash	$3.07B
Shares Outstanding	317.65M
Earnings Score	95%
Moat Score	94%
Gross Profit	$9.44B
Shares Growth 3y	-3%
Equity Growth QoQ	-1%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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D.R. Horton is a leading homebuilder in the United States with operations in 98 markets across 31 states. D.R. Horton mainly builds single-family detached homes (over 90% of home sales revenue) and offers products to entry-level, move-up, luxury buyers, and active adults. The company offers homebuyers mortgage financing and title agency services through its financial services segment. D.R. Horton's headquarters are in Arlington, Texas, and it manages six regional segments across the United States.

SEC Filings

Direct access to Horton D R Inc (DHI) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Horton D R Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Horton D R Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 29%

Stability 92%

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Horton D R Inc Discounted Cash Flow

Fully customizable DCF calculator online for Horton D R Inc .

Years

Calculation mode

= $147B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.9B	$3.5B	$4.4B	$5.4B	$6.6B	$8.2B	$10B	$12B	$15B	$19B	$23B	$233B
DCF		$3.2B	$3.6B	$4B	$4.5B	$5.1B	$5.7B	$6.4B	$7.1B	$8B	$9B	$90B
Value	$147B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Net Margins	7%	7%	7%	9%	9%	12%	15%	17%	13%	13%	11%
ROA	-	12%	13%	15%	14%	16%	22%	25%	19%	17%	18%
ROE	-	13%	13%	16%	16%	20%	27%	30%	21%	18%	18%

Good Net Margins (11.1%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	97%	97%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (97%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	CAGR 5Y
Revenue YoY growth	-	12%	16%	14%	9%	15%	37%	21%	6%	4%	16%
Earnings YoY growth	-	18%	17%	41%	11%	47%	76%	40%	-19%	0%	19%
Equity YoY growth	-	15%	14%	18%	12%	18%	26%	30%	17%	12%	22%
FCF YoY growth	-	-17%	-48%	71%	61%	61%	-71%	15%	905%	-51%	32%