$DHI

HORTON D R INC /DE/

CIK:0000882184|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 9,227.1	$ 9,225.7	$ 23,672.2	$ 24,572.6
Cost of sales	7,080.9	7,016.5	18,227.9	18,553.1
Selling, general and administrative expense	991.2	944.3	2,759.7	2,721.1
Other (income) expense	(71.2)	(93.2)	(207.0)	(236.7)
Income before income taxes	1,226.2	1,358.1	2,891.6	3,535.1
Income tax expense	307.5	325.0	713.5	831.0
Net income	918.7	1,033.1	2,178.1	2,704.1
Net income attributable to noncontrolling interests	13.8	8.5	30.5	24.2
Net income attributable to D.R. Horton, Inc.	$ 904.9	$ 1,024.6	$ 2,147.6	$ 2,679.9
Basic net income per common share attributable to D.R. Horton, Inc. (in dollars per share)	$ 3.21	$ 3.37	$ 7.47	$ 8.57
Diluted net income per common share attributable to D.R. Horton, Inc. (in dollars per share)	$ 3.20	$ 3.36	$ 7.45	$ 8.53
Weighted average number of common shares	282.2	304.1	287.5	312.7
Adjusted weighted average number of common shares	283.0	304.9	288.4	314.1

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income	$ 2,178.1	$ 2,704.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	84.8	73.9
Stock-based compensation expense	107.5	101.1
Deferred income taxes	88.0	101.2
Inventory and land option charges	65.2	100.8
Changes in operating assets and liabilities:
Increase in construction in progress and finished homes	(1,417.2)	(146.1)
Decrease (increase) in residential land and lots – developed, under development, held for development and held for sale	372.3	(1,481.1)
Increase in rental properties	(342.9)	(230.8)
Increase in other assets	(108.8)	(136.5)
Increase in mortgage loans held for sale	(424.1)	(290.2)
Increase in accounts payable, accrued expenses and other liabilities	277.9	152.7
Net cash provided by operating activities	880.8	949.1
INVESTING ACTIVITIES
Expenditures for property and equipment	(106.6)	(93.6)
Proceeds from sale of assets	0.0	18.4
Payments related to business acquisitions, net of cash acquired	(87.9)	(53.1)
Other investing activities	(19.0)	4.8
Net cash used in investing activities	(213.5)	(123.5)
FINANCING ACTIVITIES
Proceeds from notes payable	3,495.0	3,012.0
Repayment of notes payable	(2,789.9)	(1,891.1)
Borrowings on mortgage repurchase facilities, net	404.9	170.4
Proceeds from stock associated with certain employee benefit plans	8.9	8.5
Cash paid for shares withheld for taxes	(55.2)	(64.2)
Cash dividends paid	(388.3)	(376.4)
Repurchases of common stock	(2,209.4)	(3,576.3)
Net other financing activities	(31.7)	12.4
Net cash used in financing activities	(1,565.7)	(2,704.7)
Net decrease in cash, cash equivalents and restricted cash	(898.4)	(1,879.1)
Cash, cash equivalents and restricted cash at beginning of period	3,033.3	4,544.0
Cash, cash equivalents and restricted cash at end of period	2,134.9	2,664.9
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
Notes payable issued for inventory	0.0	5.5
Stock issued under employee incentive plans	114.0	147.2
Repurchases of common stock not settled	$ 0.0	$ 23.2

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025
ASSETS
Cash and cash equivalents	$ 2,078.7	$ 2,985.4
Restricted cash	56.2	47.9
Total cash, cash equivalents and restricted cash	2,134.9	3,033.3
Inventories:
Construction in progress and finished homes	9,083.9	7,648.5
Residential land and lots — developed and under development	14,318.9	14,695.8
Land held for development	206.6	218.3
Land held for sale	31.7	21.4
Rental properties	3,045.8	2,703.3
Total inventory	26,686.9	25,287.3
Mortgage loans held for sale	2,990.6	2,566.5
Deferred tax asset, net	0.0	44.5
Property and equipment, net	607.5	578.9
Other assets	3,927.9	3,797.2
Goodwill	163.5	163.5
Total assets	36,511.3	35,471.2
LIABILITIES
Accounts payable	1,388.4	1,221.9
Deferred tax liability, net	43.4	0.0
Accrued expenses and other liabilities	3,560.4	3,541.6
Notes payable	7,112.6	5,965.5
Total liabilities	12,104.8	10,729.0
Commitments and contingencies (Note K)
EQUITY
Preferred stock, $.10 par value, 30,000,000 shares authorized, no shares issued	0.0	0.0
Common stock, $.01 par value, 1,000,000,000 shares authorized, 404,898,495 shares issued and 280,730,194 shares outstanding at June 30, 2026 and 404,031,443 shares issued and 294,475,153 shares outstanding at September 30, 2025	4.0	4.0
Additional paid-in capital	3,634.9	3,576.1
Retained earnings	32,800.7	31,041.4
Treasury stock, 124,168,301 shares and 109,556,290 shares at June 30, 2026 and September 30, 2025, respectively, at cost	(12,620.1)	(10,431.1)
Stockholders’ equity	23,819.5	24,190.4
Noncontrolling interests	587.0	551.8
Total equity	24,406.5	24,742.2
Total liabilities and equity	$ 36,511.3	$ 35,471.2