Analyst Report: D.R. Horton Inc.

Argus

•

Jan 23, 2026

Summary

D.R. Horton, based successful Fort Worth, Texas, is 1 of the largest location builders successful the U.S., with home-building gross of $31 cardinal connected 84,863 closings for the fiscal twelvemonth ended September 30, 2025. To beryllium sure, DHI whitethorn beryllium No. 1 based connected deliveries portion Lennar Corp.'s $32.27 cardinal successful home-building gross topped Horton's successful FY25, helped by an mean income terms that is astir $22,000 higher than DHI's. DHI offers homes successful 126 markets successful 36 states. The mean location terms was down astir 1% to $365,000 successful FY25. The company's fiscal services conception besides provides owe financing and rubric bureau services. DHI's rental part generated $1.7 cardinal of gross successful 2025.

The company's fiscal twelvemonth ends connected September 30. The concern is s

Chris Graja, CFA

Senior Analyst: Retail

Chris covers the Consumer assemblage for Argus. He was the #1 Stock Picker successful the Household Durables sector, winning the 2019 StarMine U.S. Analyst grant from Refinitiv. He was the #1 Stock Picker successful Food and Staples Retailing, winning back-to-back U.S. Analyst Awards successful 2015 and 2016. He received a prestigious Volunteer of the Year grant from the New York Society of Security Analysts successful 2000. Prior to Argus, Chris spent 16 years astatine Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s probe part earlier joining the caller Bloomberg mag arsenic Technical Studies Editor successful 1993. He roseate to Executive Markets Editor of the publishing group. Chris co-authored the publication “Investing successful Small-Cap Stocks,” which was published successful 3 U.S. editions, an audio book, and 2 Chinese editions. Chris earned an MBA from Rutgers University. He is simply a CFA charterholder.