D.R. Horton said consolidated revenues for fiscal 2025 decreased 7% to $34.3 billion compared to $36.8 billion in the prior year, net income was $3.6 billion compared to $4.8 billion, and diluted earnings per share were $11.57 compared to $14.34.

1. 01

   D.R. Horton said consolidated revenues for fiscal 2025 decreased 7% to $34.3 billion compared to $36.8 billion in the prior year, net income was $3.6 billion compared to $4.8 billion, and diluted earnings per share were $11.57 compared to $14.34.

2. 02

   The company said home sales gross profit margin for fiscal 2025 decreased 200 basis points to 21.5%, citing as factors an increase in the average cost of homes closed combined with a decrease in average selling price of 170 basis points.

3. 03

   D.R. Horton said net cash provided by operating activities for fiscal 2025 was $3.4 billion compared to $2.2 billion in the prior year, debt to total capital was 19.8% compared to 18.9%, and net debt to total capital was 11.0% compared to 5.2%.

4. 04

   The company said it acquired the homebuilding operations of SK Builders in October 2025 for approximately $80 million in cash. The company said the assets acquired included approximately 160 homes in inventory, 260 lots and a sales order backlog of 110 homes.

Key figures

Fiscal year ended September 30, 2025

Revenue

$34.3B

Net income

$3.6B

EPS

$11.57

Operating cash flow

$3.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.