D.R. Horton, Inc. (DHI) Q3 FY2026 Financial Statements: Revenue $9.23B, Net income $904.90M
More for D.R. Horton: Company index · 10-K and 10-Q summary · 8-K filings and events
PeriodQ3 FY2026
Published
D.R. Horton reported revenue of $9.23 billion for Q3 FY2026, the quarter ended June 30, 2026, flat from a year earlier, while net income attributable to D.R. Horton was $904.9 million, down 11.7% from $1.02 billion. Diluted earnings per share were $3.20, down 4.8%, a smaller decline than in net income because the weighted average diluted share count fell to 283,000,000 from 304,900,000. Pre-tax income was $1.23 billion, down 9.7%, and the company said a lower average sales price and higher sales incentives, including mortgage rate buydowns, reduced its home sales gross margin.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $9,227,100,000 | flat |
| Net income | $904,900,000 | down 11.7% |
| Diluted EPS | $3.20 | down 4.8% |
| Pre-tax income | $1,226,200,000 | down 9.7% |
| Diluted shares | 283,000,000 | down 7.2% |
Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.
About this file
| Ticker | DHI |
|---|---|
| CIK | 0000882184 |
| Company | D.R. Horton, Inc. |
| Business type | homebuilder |
| Schema template | homebuilder (consolidated): revenues, cost of sales, SG&A, other income, pre-tax income, net income attributable to D.R. Horton, diluted EPS and shares; cash, total inventory, mortgage loans held for sale, notes payable, total assets, liabilities and equity; operating cash flow, capital expenditures, free cash flow, dividends and share repurchases |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual US dollars (not millions); per-share amounts in dollars; share counts in actual shares |
DHI annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Period start | 2024-10-01 | 2023-10-01 | 2022-10-01 |
| Period end | 2025-09-30 | 2024-09-30 | 2023-09-30 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 10-K | 10-K | 10-K |
| Income statement | |||
| Revenues | 34,250,400,000 | 36,801,400,000 | 35,460,400,000 |
| Cost of sales | 26,134,200,000 | 27,266,000,000 | 26,110,000,000 |
| Selling general and administrative expense | 3,692,000,000 | 3,599,500,000 | 3,248,800,000 |
| Income before income taxes | 4,739,900,000 | 6,284,700,000 | 6,314,700,000 |
| Income tax expense | 1,119,000,000 | 1,478,700,000 | 1,519,500,000 |
| Net income including noncontrolling interests | 3,620,900,000 | 4,806,000,000 | 4,795,200,000 |
| Net income attributable to noncontrolling interests | 35,700,000 | 49,600,000 | 49,500,000 |
| Net income attributable to d r horton | 3,585,200,000 | 4,756,400,000 | 4,745,700,000 |
| Basic EPS | 11.62 | 14.44 | 13.93 |
| Diluted EPS | 11.57 | 14.34 | 13.82 |
| Basic shares | 308,500,000 | 329,500,000 | 340,700,000 |
| Diluted shares | 309,900,000 | 331,600,000 | 343,300,000 |
| Other income net | 315,700,000 | 348,800,000 | 213,100,000 |
| Cash flow | |||
| Operating cash flow | 3,420,900,000 | 2,189,800,000 | 4,304,100,000 |
| Capex | -137,400,000 | -165,300,000 | -148,600,000 |
| Depreciation and amortization | 101,300,000 | 87,100,000 | 91,600,000 |
| Dividends paid | -494,800,000 | -395,200,000 | -341,200,000 |
| Repurchases of common stock | -4,281,600,000 | -1,787,500,000 | -1,178,500,000 |
| Free cash flow | 3,283,500,000 | 2,024,500,000 | 4,155,500,000 |
| Balance sheet | |||
| Cash and cash equivalents | 2,985,400,000 | 4,516,400,000 | |
| Restricted cash | 47,900,000 | 27,600,000 | |
| Total inventory | 25,287,300,000 | 24,903,200,000 | |
| Mortgage loans held for sale | 2,566,500,000 | 2,477,500,000 | |
| Total assets | 35,471,200,000 | 36,104,300,000 | |
| Notes payable | 5,965,500,000 | 5,917,700,000 | |
| Total liabilities | 10,729,000,000 | 10,279,900,000 | |
| Stockholders equity | 24,190,400,000 | 25,312,800,000 | |
| Noncontrolling interests | 551,800,000 | 511,600,000 | |
| Total equity | 24,742,200,000 | 25,824,400,000 | |
| Common shares outstanding | 294,475,153 | 324,027,360 | |
| Shareholder returns | |||
| Dividends declared per share | 1.6 | 1.2 | 1.0 |
| Shares repurchased | 30,735,308 | 12,467,294 | 11,133,774 |
| Dividends declared | -494,800,000 | -395,200,000 | -341,200,000 |
| Share repurchases at cost | -4,298,200,000 | -1,803,100,000 | -1,187,300,000 |
DHI quarterly income statement, balance sheet and cash flow
| Q3 FY2026 | Q3 FY2025 | |
|---|---|---|
| Fiscal quarter | 3 | 3 |
| Period start | 2026-04-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | three months | three months |
| Source accession | 10-Q | 10-Q |
| Income statement | ||
| Revenues | 9,227,100,000 | 9,225,700,000 |
| Cost of sales | 7,080,900,000 | 7,016,500,000 |
| Selling general and administrative expense | 991,200,000 | 944,300,000 |
| Income before income taxes | 1,226,200,000 | 1,358,100,000 |
| Income tax expense | 307,500,000 | 325,000,000 |
| Net income including noncontrolling interests | 918,700,000 | 1,033,100,000 |
| Net income attributable to noncontrolling interests | 13,800,000 | 8,500,000 |
| Net income attributable to d r horton | 904,900,000 | 1,024,600,000 |
| Basic EPS | 3.21 | 3.37 |
| Diluted EPS | 3.20 | 3.36 |
| Basic shares | 282,200,000 | 304,100,000 |
| Diluted shares | 283,000,000 | 304,900,000 |
| Other income net | 71,200,000 | 93,200,000 |
| Balance sheet | ||
| Cash and cash equivalents | 2,078,700,000 | |
| Restricted cash | 56,200,000 | |
| Total inventory | 26,686,900,000 | |
| Mortgage loans held for sale | 2,990,600,000 | |
| Total assets | 36,511,300,000 | |
| Notes payable | 7,112,600,000 | |
| Total liabilities | 12,104,800,000 | |
| Stockholders equity | 23,819,500,000 | |
| Noncontrolling interests | 587,000,000 | |
| Total equity | 24,406,500,000 | |
| Common shares outstanding | 280,730,194 | |
| Shareholder returns | ||
| Dividends declared | -127,100,000 | -122,400,000 |
| Share repurchases at cost | -615,700,000 | -1,203,500,000 |
| Dividends declared per share | 0.45 | 0.40 |
| Shares repurchased | 4,229,461 | 9,714,653 |
DHI year-to-date income statement and cash flow
| Nine months ended June 30, 2026 (9M FY2026) | Nine months ended June 30, 2025 (9M FY2025) | |
|---|---|---|
| Period start | 2025-10-01 | 2024-10-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | nine months | nine months |
| Source accession | 10-Q | 10-Q |
| Income statement | ||
| Revenues | 23,672,200,000 | 24,572,600,000 |
| Cost of sales | 18,227,900,000 | 18,553,100,000 |
| Selling general and administrative expense | 2,759,700,000 | 2,721,100,000 |
| Income before income taxes | 2,891,600,000 | 3,535,100,000 |
| Income tax expense | 713,500,000 | 831,000,000 |
| Net income including noncontrolling interests | 2,178,100,000 | 2,704,100,000 |
| Net income attributable to noncontrolling interests | 30,500,000 | 24,200,000 |
| Net income attributable to d r horton | 2,147,600,000 | 2,679,900,000 |
| Basic EPS | 7.47 | 8.57 |
| Diluted EPS | 7.45 | 8.53 |
| Basic shares | 287,500,000 | 312,700,000 |
| Diluted shares | 288,400,000 | 314,100,000 |
| Other income net | 207,000,000 | 236,700,000 |
| Cash flow | ||
| Operating cash flow | 880,800,000 | 949,100,000 |
| Capex | -106,600,000 | -93,600,000 |
| Depreciation and amortization | 84,800,000 | 73,900,000 |
| Dividends paid | -388,300,000 | -376,400,000 |
| Repurchases of common stock | -2,209,400,000 | -3,576,300,000 |
| Free cash flow | 774,200,000 | 855,500,000 |
DHI trailing twelve month income statement and cash flow
| Twelve months ended June 30, 2026 (TTM) | |
|---|---|
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Derived | yes |
| Source accession | 10-Q |
| Source accessions | 10-K, 10-Q |
| Income statement | |
| Revenues | 33,350,000,000 |
| Cost of sales | 25,809,000,000 |
| Selling general and administrative expense | 3,730,600,000 |
| Other income net | 286,000,000 |
| Income before income taxes | 4,096,400,000 |
| Income tax expense | 1,001,500,000 |
| Net income including noncontrolling interests | 3,094,900,000 |
| Net income attributable to noncontrolling interests | 42,000,000 |
| Net income attributable to d r horton | 3,052,900,000 |
| Cash flow | |
| Operating cash flow | 3,352,600,000 |
| Capex | -150,400,000 |
| Free cash flow | 3,202,200,000 |
| Dividends paid | -506,700,000 |
| Repurchases of common stock | -2,914,700,000 |
- Derivation. FY2025 (10-K) plus nine months ended June 30, 2026 less nine months ended June 30, 2025 (10-Q)
Adjustments
| Splits applied | none |
|---|---|
| ADR ratio | n/a |
| FX | none; the company reports in US dollars |
Notes
- Sources: fiscal years 2023 to 2025 come from D.R. Horton's FY2025 Form 10-K (accession 0000882184-25-000081); the quarter ended June 30, 2026, the year-ago quarter, the nine-month year-to-date figures and the June 30, 2026 balance sheet come from the Q3 FY2026 Form 10-Q (accession 0000882184-26-000096). D.R. Horton's fiscal year ends September 30, so Q3 FY2026 is April 1 to June 30, 2026.
- Template: homebuilder. D.R. Horton reports a single consolidated revenue line covering homebuilding, rental, Forestar (its majority-owned lot developer) and financial services, and a single cost of sales line. Because financial services costs sit in SG&A rather than cost of sales, revenues less cost of sales is not a like-for-like gross margin, so no consolidated gross profit is reported here. The statement of operations has no operating income subtotal; income before income taxes is the closest pre-tax measure.
- Net income is shown two ways, as the filing prints it: net income including the noncontrolling interests (the share of Forestar that D.R. Horton does not own, 38% at September 30, 2025) and net income attributable to D.R. Horton, Inc. Earnings per share are struck on the attributable figure.
- other_income_net is the line the filing captions 'Other (income) expense'. The filing prints it in parentheses because it is net income in every period shown; it is recorded here as a positive amount of net other income.
- Cash outflows on the cash flow statement (capital expenditures, dividends paid, share repurchases) and reductions of equity on the statement of total equity (dividends declared, repurchases at cost) are recorded as negative figures, as the filings print them.
- capex is the cash flow line 'Expenditures for property and equipment'. Free cash flow is derived as net cash provided by operating activities less that line; it is not a figure D.R. Horton reports. Inventory spending on land and homes runs through operating cash flow for a homebuilder, not capex.
- notes_payable is the balance-sheet total of notes payable across homebuilding, rental, Forestar and the financial services mortgage repurchase facility; D.R. Horton does not print a separate total debt line.
- common_shares_outstanding is the period-end count printed in the balance sheet's common stock caption. Weighted average basic and diluted shares are printed in millions and stored here as whole shares.
- shareholder_returns figures come from the consolidated statements of total equity: dividends declared per share and the number of shares repurchased are printed in the row captions; dividends declared and repurchases at cost are the total-equity column. Repurchases at cost on the equity statement and cash paid for repurchases on the cash flow statement are different measures and do not match exactly.
- The Form 10-Q's cash flow statement covers only the nine months ended June 30, 2026 and 2025, so the quarterly entries carry no cash flow figures; the nine-month cash flows are in the year-to-date block.
- The trailing twelve months to June 30, 2026 are derived: fiscal 2025 from the 10-K plus the nine months ended June 30, 2026 less the nine months ended June 30, 2025 from the 10-Q. Per-share figures and share counts are not derived for this period because they do not add across periods.
- No stock splits, currency translation or ADR adjustments apply: D.R. Horton reports in US dollars and its common stock trades directly on the New York Stock Exchange.
- After the quarter, an 8-K filed September 15, 2026 (accession 0000882184-26-000108) reported a new $5.0 billion share repurchase authorization and that the company expects fiscal 2026 repurchases of at least $3.25 billion. Full-year fiscal 2026 results had not been filed when this record was prepared.
Uncertainties
- Three-month cash flow figures for Q3 FY2026 and Q3 FY2025 are not available: the Form 10-Q and the accompanying July 21, 2026 earnings release print nine-month cash flows only, and the Q2 FY2026 10-Q needed to difference them is not part of this record.
- The balance sheet at June 30, 2025 is not printed in the Q3 FY2026 10-Q (its comparative balance sheet is September 30, 2025), so the year-ago quarter carries no balance sheet; the balance sheet at September 30, 2023 is likewise not printed in the FY2025 10-K, so FY2023 carries none.
- Trailing-twelve-month figures are arithmetic derivations, not figures D.R. Horton reports.
Company details
| Name | Horton D R Inc /De/ |
|---|---|
| Ticker | DHI |
| CIK | 0000882184 |
| Exchange | NYSE |
| State | Texas |
| Incorporation | Delaware |
| SIC | 1531 |
| Office | Real Estate & Construction |
| Industry | Operative Builders |
Fiscal period
| Fiscal year | 2026 |
|---|---|
| Fiscal period | Q3 |
| Tag | FY26Q3 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0000882184-26-000096 |
| Fiscal year end | 0930 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Source |
|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2025 | FY | FY25 | 2025-09-30 | 2025-11-19 | 0000882184-25-000081 | reported |
| quarterly | yes | 10-Q | 2026 | Q3 | FY26Q3 | 2026-06-30 | 2026-07-23 | 0000882184-26-000096 | facts |
FAQ · D.R. Horton financial statements
How much did D.R. Horton earn in Q3 FY2026?
D.R. Horton reported net income attributable to D.R. Horton of $904.9 million for Q3 FY2026, the quarter ended June 30, 2026, down 11.7% from $1.02 billion in the same quarter a year earlier. Diluted earnings per share were $3.20, against $3.36.
What was D.R. Horton's revenue in Q3 FY2026?
D.R. Horton reported consolidated revenue of $9.23 billion for Q3 FY2026, the quarter ended June 30, 2026, flat from $9.23 billion a year earlier. The figure combines homebuilding, rental, Forestar lot sales and financial services.
Why did D.R. Horton's earnings per share fall less than its net income in Q3 FY2026?
D.R. Horton's diluted earnings per share were $3.20 in Q3 FY2026, down 4.8% from a year earlier, while net income attributable to D.R. Horton was down 11.7%. The difference reflects share repurchases, which cut the weighted average diluted share count to 283,000,000 from 304,900,000 a year earlier.
What was D.R. Horton's pre-tax income in Q3 FY2026?
D.R. Horton reported income before income taxes of $1.23 billion for Q3 FY2026, the quarter ended June 30, 2026, down 9.7% from $1.36 billion a year earlier. The company said a lower average sales price and higher incentives, including mortgage rate buydowns, reduced its home sales gross margin.
Where can I get D.R. Horton, Inc. (DHI) financial data in machine-readable form?
Ticker Scout publishes D.R. Horton, Inc.'s financial statements as JSON at https://tickerscout.ai/dhi/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/dhi/narrative.md and https://tickerscout.ai/dhi/events.md. D.R. Horton, Inc.'s SEC CIK is 0000882184. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does D.R. Horton, Inc. (DHI) next file with the SEC?
D.R. Horton, Inc. (DHI) is expected to file its next Form 10-K with the SEC on or around November 18, 2026. That date is a projection rather than a company-announced date: it is derived from D.R. Horton, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q3 FY2026, the period ended 2026-06-30, SEC accession 0000882184-26-000096.
How this page was built
This page was built from three of D.R. Horton, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names three such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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