Reading the tape
NYSE: DHI
D.R. Horton, Inc.
Consumer Cyclical · Residential Construction
Market Cap
$41.86B
52w High
$184.55
52w Low
$114.17
P/E
13.40
Volume
1.11M
Outstanding Shares
283.58M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: 19.21%Revenue (TTM): -5.57%FCF (TTM): 28.17%P/FCF: 8th pct
What changed
The stock rose 19.21% over the last year. Revenue declined 5.57% over the trailing twelve months. Operating margin moved from 15.45% to 11.76%. Free cash flow grew 28.17% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher with no clear directional signal from operating metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 11.76%. A decisive move in revenue — currently down 5.57% — would be the clearest signal to resolve the ambiguity.
Company profile
D.R.
CEOPaul J. Romanowski
SectorConsumer Cyclical
IndustryResidential Construction
Employees14,766
IPO dateJun 5, 1992
Valuation
Forward P/E—
EV/EBITDA11.43
Enterprise value$55.33B
Stock splits
Mar 17, 2005↑ Forward
Every 3 shares became 4
Jan 13, 2004↑ Forward
Every 2 shares became 3
Apr 10, 2002↑ Forward
Every 2 shares became 3
Mar 7, 2001↑ Forward
Every 100 shares became 111
Sep 14, 2000↑ Forward
Every 100 shares became 109
May 6, 1996↑ Forward
Every 25 shares became 27
Sep 18, 1995↑ Forward
Every 5 shares became 7
May 24, 1995↑ Forward
Every 100 shares became 109
Profitability & growth
Revenue growth-2.27%
Gross margin22.8%▼8.54%vs FY2024
Operating margin11.76%▼22.25%vs FY2024
ROE14.82%▼21.13%vs FY2024
Analyst consensus
RatingHold
Target price$163.86▲10.99%
24
Buy
25
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 21, 2026
Q3 FY26 · EPS est $2.98 · Revenue est $9.04B
View
Dividends
$1.75/shareQuarterlyDividend Achiever · 11yrSafeDHI pays a dividend with a 1.19% dividend yield, 11 consecutive years of growth, growing at 17.69% annually, covered 6.6× by free cash flow.
Dividend Yield
1.19%
Annual Div / Share
$1.75
5yr CAGR
+17.69%
Doubles every ~4.3yr
Payout Ratio
15.82%
Safe
Dividend Growth Rate
3yr CAGR
+21.53%
5yr CAGR
+17.69%
10yr CAGR
+19.19%
Dividend Safety
10/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$1.75+16.7%
2025$1.50+30.4%
2024$1.15+17.9%
2023$0.97+11.4%
2022$0.88+12.9%
2021$0.78+14.8%
2020$0.68+17.4%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$12/yr
$1/mo
In 5 yrs
$21/yr+76%
$2/mo
In 10 yrs
$37/yr+211%
$3/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$12/yr $1/mo | $21/yr+76% $2/mo | $37/yr+211% $3/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 1.19% → 3.68% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
DHI has raised its dividend for 11 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 6.6× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 17.69% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.