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D.R. Horton Cash Flow Statement

Operating, investing, and financing cash movements

Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$3.0BNet Cash From Investing (TTM)-$234.6MNet Cash From Financing (TTM)-$4.0BCapital Expenditures (TTM)$154.4MDepreciation And Amortization Cf (TTM)$108.4MNet Change In Cash (TTM)-$575.3M
Latest FilingQ1 2026
Report Date2026-04-23
Market Cap$43.8B
P/E Ratio13.80
ROE13.23%

Investing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Acquisitions, net of cash acquired$51M$2.1M——$82.1M$5.8M
Capital expenditures$13.3M$34.3M$46M$43.8M$27.4M$37.2M
Payment for (Proceeds from) Other Investing Activity-$7.2M——$5.9M$6.7M$1.2M
Net cash from investing activities-$57.1M-$37.4M-$29M-$45.2M-$116.2M-$44.2M
Other investing activities-$7.2M——$5.9M$6.7M$1.2M

Operating

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Change in accounts payable$71M-$119.6M$201.3M—-$254.1M$335.3M
Change in other assets-$65.2M$188.1M$13.6M$111.7M-$20.1M$46.3M
Deferred income taxes-$40.1M-$53M-$8.1M-$22M-$19.5M-$33.6M
Depreciation and amortization$24.1M$24.6M$25.2M$27.4M$27.7M$28.1M
Net cash from operating activities$646.7M—$738.6M$2.5B$854M—
Net income$851.9M$819.1M$1B$916.8M$601.4M$658M
Increase (Decrease) in Deferred Income Taxes-$40.1M-$53M-$8.1M-$22M-$19.5M-$33.6M
Increase Decrease In Finished Goods And Work In Process Inventories-$181.7M-$48.1M$375.9M-$1.4B-$398.8M$1.3B
Increase (Decrease) in Inventory for Long-Term Contracts or Programs$1.2B$345.4M$0$403.2M$489.1M-$684M
Increase (Decrease) in Mortgage Loans Held-for-sale-$683.1M—$312.7M—-$657.7M$772M
Increase (Decrease) in Other Operating Assets-$65.2M$188.1M$13.6M$111.7M-$20.1M$46.3M
Increase (Decrease) in Rental Properties$86.5M$129.5M$14.8M-$426.2M$180.6M$116.9M
Inventory and land option charges$16.6M$30M$54.2M$57.3M$11.2M$32.1M
Stock-based compensation$43M$32.2M$25.9M$29.9M$41.4M$34.6M

Financing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Repayments of debt$755.4M$810.7M$325M$1.3B$154.9M$736.9M
Dividends paid$128.5M$125.5M$122.4M$118.4M$131.5M$129.7M
Payments For Repurchase Of Equity$1.1B$1.4B$1.2B$705.3M$649.2M$950.6M
Proceeds from exercises of stock options and other stock issuances$0$8.5M$0$10M——
Other, net-$10.5M$15.9M$7M$43.1M$21.5M-$28.3M
Proceeds From Repayments Of Lines Of Credit-$746.9M—$256.8M-$295.9M-$579.3M$649.2M
Repayments Of Notes Payable$755.4M$810.7M$325M$1.3B$154.9M$736.9M
Net cash from financing activities-$2.1B-$77.3M-$562.8M-$2.1B-$1.2B-$122.1M
Other financing activities-$10.5M$15.9M$7M$43.1M$21.5M-$28.3M
Proceeds from issuance of common stock$71.3M-$71.3M$0$0$64.3M—
Repurchases of common stock$1.1B$1.4B$1.2B$705.3M$649.2M$950.6M
Taxes paid for net share settlement$27.6M$35.8M$800K$0$29.7M$24.7M

Free Cash Flow

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Free cash flow$633.4M—$692.6M$2.4B$826.6M—

Supplemental

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Income taxes paid$255.1M$255.1M$255.1M$255.1M——
Income Taxes Paid, Net$255.1M$255.1M$255.1M$255.1M——

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Net increase (decrease) in cash-$1.5B-$550.9M——-$480.3M-$578.8M
Proceeds From Notes Payable$660M$1.6B$790M$260M$305M$1.1B
Issuance of common stock for the acquisition of Ansys$71.3M$72.2M$3.7M$400K$64.3M$46.8M