How does D.R. Horton (DHI) make money?

D.R. Horton (DHI) generates revenue primarily from Homebuilding, which accounted for 92.1% of total revenue in TTM through Q1 2026. The company reported $33.35B in revenue and converted 9.5% of it into net profit, equivalent to roughly $3.17B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of D.R. Horton (DHI)?

D.R. Horton (DHI) reported a gross profit margin of 22.8% in TTM through Q1 2026, equivalent to $7.60B in gross profit on $33.35B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of D.R. Horton (DHI)?

D.R. Horton (DHI) reported an operating profit margin of 11.8% in TTM through Q1 2026, equivalent to $3.92B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of D.R. Horton (DHI)?

D.R. Horton (DHI) reported a net profit margin of 9.5% in TTM through Q1 2026, equivalent to $3.17B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is D.R. Horton (DHI) profitable?

Yes. D.R. Horton (DHI) reported $3.17B in net income for TTM through Q1 2026, with a net profit margin of 9.5%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does D.R. Horton (DHI) spend on capital expenditures?

D.R. Horton (DHI) spent $154.40M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 0.5% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does D.R. Horton (DHI) generate?

D.R. Horton (DHI) generated $3.50B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 10.5%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of D.R. Horton (DHI)?

D.R. Horton (DHI) had an effective tax rate of 24.3% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of D.R. Horton (DHI)?

D.R. Horton (DHI) reports revenue across 4 reportable product segments, led by Homebuilding at 88.4% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does D.R. Horton (DHI) generate most of its revenue?

South Central is the largest geographic market for D.R. Horton (DHI), accounting for 22% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How D.R. Horton Makes Money: 2026 Visual Revenue Map

D.R. Horton (DHI) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 23, 2026).

D.R. Horton (DHI) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for D.R. Horton (DHI) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Homebuilding	$29.48B	88.4%
Forestar Group	$1.64B	4.9%
Rental	$1.45B	4.3%
Financial Services	$789.59M	2.4%
Total	$33.35B	100%

Homebuilding$29.48B
Forestar Group$1.64B
Rental$1.45B
Financial Services$789.59M
Total$33.35B

D.R. Horton (DHI) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for D.R. Horton (DHI), TTM through Q1 2026
Region	Revenue (USD)	% of total
South Central	$6.78B	22%
Southeast	$6.62B	21.5%
East	$6.23B	20.2%
North	$4.33B	14%
Southwest	$4.32B	14%
Northwest	$2.58B	8.4%
Total	$30.88B	100%

South Central
Southeast
East
North
Southwest
Northwest
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, D.R. Horton (DHI) reports revenue across 4 operating segments; the largest segment was Homebuilding at 88.4%, followed by Forestar Group (4.9%) and Rental (4.3%). Separately, by end-market geography, South Central accounted for 22% of revenue, followed by Southeast (21.5%) and East (20.2%).

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