D.R. Horton DHI Business Segments
| Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Eliminations and Other | -$284M-35.8% | -$209.1M+64.0% | -$580.8M-64.0% | -$354.1M-31.4% | -$269.4M-31.6% | |
| Financial Services | $192.8M+4.4% | $184.6M-15.4% | $218.2M-4.2% | $227.8M+7.0% | $212.9M+16.8% | |
| Forestar Group | $374.3M+37.1% | $273M-59.3% | $670.5M+71.7% | $390.5M+11.3% | $351M+40.2% | |
| HomeBuildingOps | $7.06B+8.2% | $6.53B— | —— | —— | $7.2B+0.5% | |
| Other Nonoperating Income (Expense) by Business | ||||||
| Eliminations and Other | $300K+200% | $100K+104% | -$2.5M-2,400% | -$100K-110% | $1M0.0% | |
| Financial Services | $18.7M+1.6% | $18.4M-21.7% | $23.5M-4.1% | $24.5M+20.1% | $20.4M-0.5% | |
| Forestar Group | $1.6M-30.4% | $2.3M-62.3% | $6.1M+369% | $1.3M+1,400% | -$100K-103% | |
| HomeBuildingOps | $11.1M-35.5% | $17.2M— | —— | —— | $17M-43.1% | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest by Business | ||||||
| Eliminations and Other | $1.6M-85.5% | $11M+117% | -$65.3M-727% | -$7.9M-79.5% | -$4.4M-130% | |
| Financial Services | $51.7M-10.9% | $58M-23.4% | $75.7M-6.9% | $81.3M+11.4% | $73M+50.2% | |
| Forestar Group | $43.9M+111% | $20.8M-81.6% | $113.1M+159% | $43.6M+7.1% | $40.7M+85.8% | |
| HomeBuildingOps | $757.9M+7.0% | $708.1M— | —— | —— | $935M-7.7% | |
| Other assets by Business | ||||||
| Eliminations and Other | -$24.4M-172% | $34M-61.8% | $89M+189% | -$100.1M-246% | $68.5M-0.3% | |
| Financial Services | $177.7M-3.2% | $183.5M-16.8% | $220.6M-3.1% | $227.6M+15.4% | $197.2M+39.9% | |
| Forestar Group | $93M-12.8% | $106.6M+1.9% | $104.6M+4.6% | $100M-1.9% | $101.9M+19.9% | |
| HomeBuildingOps | $3.55B+3.6% | $3.43B+2.6% | $3.34B— | —— | —— | |
| Total Assets by Business | ||||||
| Eliminations and Other | -$355.1M-14.4% | -$310.3M-14.0% | -$272.2M+30.8% | -$393.4M-98.6% | -$198.1M-8.0% | |
| Financial Services | $3.13B+33.5% | $2.35B-23.3% | $3.06B-7.2% | $3.29B+11.7% | $2.95B+34.4% | |
| Forestar Group | $3.17B-0.1% | $3.18B+1.3% | $3.14B+0.5% | $3.12B+2.6% | $3.04B+2.8% | |
| HomeBuildingOps | $26.45B+0.2% | $26.4B-1.1% | $26.7B— | —— | —— | |
| Cost of Sales by Business | ||||||
| Eliminations and Other | -$290M-29.3% | -$224.2M+57.1% | -$522.3M-48.9% | -$350.8M-30.8% | -$268.2M-20.2% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $294.1M+34.9% | $218M-58.1% | $520.9M+67.6% | $310.8M+14.3% | $271.8M+39.1% | |
| HomeBuildingOps | $5.67B+8.9% | $5.21B— | —— | —— | $5.65B+1.8% | |
| Accounts Payable by Business | ||||||
| Eliminations and Other | -$106.9M-12.4% | -$95.1M+2.2% | -$97.2M+48.9% | -$190.1M-158% | -$73.7M+15.7% | |
| Financial Services | $400K+100% | $200K-71.4% | $700K+133% | $300K+50.0% | $200K+100% | |
| Forestar Group | $73.3M-8.5% | $80.1M+12.8% | $71M+5.7% | $67.2M-4.0% | $70M-10.9% | |
| HomeBuildingOps | $1.15B+42.1% | $811.6M-20.2% | $1.02B— | —— | —— | |
| Accrued Liabilities by Business | ||||||
| Eliminations and Other | -$423.5M+9.0% | -$465.4M-15.1% | -$404.2M+18.7% | -$497M-21.0% | -$410.7M-12.3% | |
| Financial Services | $414.2M+45.6% | $284.4M-3.5% | $294.7M-19.8% | $367.6M+20.1% | $306.1M+16.4% | |
| Forestar Group | $401.6M-22.2% | $516.3M+4.5% | $494.3M-1.2% | $500.1M+10.1% | $454.4M-1.5% | |
| HomeBuildingOps | $3.04B-3.4% | $3.15B+0.8% | $3.12B— | —— | —— | |
| Cash and Cash Equivalent by Business | ||||||
| Eliminations and Other | $31.5M+53.7% | $20.5M+97.1% | $10.4M-69.5% | $34.1M+34.3% | $25.4M+36.6% | |
| Financial Services | $242.4M+5.9% | $228.8M-6.4% | $244.5M-8.8% | $268M-0.4% | $269.1M+12.8% | |
| Forestar Group | $362.2M+71.1% | $211.7M-44.2% | $379.2M+100% | $189.2M+8.5% | $174.3M+32.0% | |
| HomeBuildingOps | $1.14B-40.7% | $1.92B-13.0% | $2.21B— | —— | —— | |
| Cash Provided by (Used in) Operating Activity, Including Discontinued Operation by Business | ||||||
| Eliminations and Other | $33.4M+258% | -$21.2M+54.6% | -$46.7M-381% | -$9.7M+62.5% | -$25.9M-277% | |
| HomeBuildingOps | $121.1M-75.7% | $497.7M— | —— | —— | $324M-41.3% | |
| Depreciation, Depletion and Amortization by Business | ||||||
| Eliminations and Other | $200K-33.3% | $300K0.0% | $300K— | $0-100% | $100K-50.0% | |
| Financial Services | $500K0.0% | $500K+25.0% | $400K-20.0% | $500K0.0% | $500K+25.0% | |
| Forestar Group | $700K-22.2% | $900K0.0% | $900K0.0% | $900K0.0% | $900K+12.5% | |
| HomeBuildingOps | $26.3M+2.7% | $25.6M— | —— | —— | $22.6M+1.8% | |
| Goodwill by Business | ||||||
| Eliminations and Other | $29.2M0.0% | $29.2M0.0% | $29.2M0.0% | $29.2M0.0% | $29.2M0.0% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $134.3M0.0% | $134.3M0.0% | $134.3M— | —— | —— | |
| Inventory and land option charges by Business | ||||||
| Eliminations and Other | $0-100% | $200K— | $0— | $0+100% | -$600K— | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $6.3M+688% | $800K-75.8% | $3.3M+73.7% | $1.9M+111% | $900K-25.0% | |
| HomeBuildingOps | $25.5M+150% | $10.2M— | —— | —— | $29.4M+149% | |
| Inventory, Homes under Construction by Business | ||||||
| Eliminations and Other | -$130.8M-28.5% | -$101.8M-6.9% | -$95.2M+19.4% | -$118.1M-6.0% | -$111.4M-4.5% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $8.68B+17.8% | $7.37B-4.8% | $7.74B— | —— | —— | |
| Inventory, Land Held for Development and Sale by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $157M-9.6% | $173.6M-3.6% | $180M-27.7% | $248.9M-1.5% | $252.8M0.0% | |
| HomeBuildingOps | $38.6M+0.5% | $38.4M+0.3% | $38.3M— | —— | —— | |
| Inventory, Real Estate by Business | ||||||
| Eliminations and Other | -$386.3M-2.7% | -$376.3M+2.2% | -$384.7M-14.1% | -$337.2M-11.0% | -$303.8M-3.7% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $2.71B-4.9% | $2.85B+7.8% | $2.65B-6.3% | $2.82B+2.3% | $2.76B+0.8% | |
| HomeBuildingOps | $20.97B+3.6% | $20.24B-0.4% | $20.32B— | —— | —— | |
| Inventory, Real Estate, Land and Land Development Costs by Business | ||||||
| Eliminations and Other | -$244.9M+8.0% | -$266.1M+5.8% | -$282.4M-34.5% | -$209.9M-7.4% | -$195.4M-2.8% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $2.55B-4.6% | $2.68B+8.6% | $2.47B-4.3% | $2.57B+2.7% | $2.51B+0.9% | |
| HomeBuildingOps | $12.21B-4.6% | $12.8B+2.3% | $12.51B— | —— | —— | |
| Land held for sale by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $39.1M+48.1% | $26.4M+23.4% | $21.4M— | —— | —— | |
| Mortgage loans held for sale by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $2.68B+40.4% | $1.91B-25.6% | $2.57B-7.3% | $2.77B+12.7% | $2.46B+36.8% | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $0— | $0— | $0— | —— | —— | |
| Notes payable by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $1.48B+78.3% | $829M-41.1% | $1.41B-17.4% | $1.7B+17.7% | $1.45B+83.9% | |
| Forestar Group | $793.5M0.0% | $793.2M-1.2% | $802.8M-8.0% | $872.8M0.0% | $872.5M+8.1% | |
| HomeBuildingOps | $3.43B+8.3% | $3.17B+0.3% | $3.15B— | —— | —— | |
| Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization by Business | ||||||
| Eliminations and Other | $23.5M-0.8% | $23.7M+3.5% | $22.9M+9.0% | $21M+2.9% | $20.4M+1.5% | |
| Financial Services | $4.2M+2.4% | $4.1M-4.7% | $4.3M+7.5% | $4M+5.3% | $3.8M-2.6% | |
| Forestar Group | $7.7M-1.3% | $7.8M-3.7% | $8.1M+5.2% | $7.7M+8.5% | $7.1M+4.4% | |
| HomeBuildingOps | $557.1M+2.1% | $545.8M+0.5% | $543M— | —— | —— | |
| Rental properties by Business | ||||||
| Eliminations and Other | -$10.6M-26.2% | -$8.4M-18.3% | -$7.1M+22.8% | -$9.2M-407% | $3M-16.7% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $0— | $0— | $0— | —— | —— | |
| Restricted Cash and Cash Equivalent by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $26.7M+33.5% | $20M+0.5% | $19.9M-19.4% | $24.7M+17.6% | $21M+50.0% | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $26.1M+8.3% | $24.1M-5.5% | $25.5M— | —— | —— | |
| Selling, General and Administrative Expense by Business | ||||||
| Eliminations and Other | $4.7M+11.9% | $4.2M-2.3% | $4.3M-4.4% | $4.5M+7.1% | $4.2M-14.3% | |
| Financial Services | $159.8M+10.2% | $145M-12.7% | $166M-2.9% | $171M+6.7% | $160.3M+4.0% | |
| Forestar Group | $37.9M+3.8% | $36.5M-14.3% | $42.6M+13.9% | $37.4M-2.6% | $38.4M+6.7% | |
| HomeBuildingOps | $648.9M+2.6% | $632.5M— | —— | —— | $637.8M+0.2% | |
| Total Liabilities by Business | ||||||
| Eliminations and Other | -$606.3M-8.2% | -$560.5M-11.8% | -$501.4M+27.0% | -$687.1M-41.8% | -$484.4M-6.9% | |
| Financial Services | $1.89B+70.0% | $1.11B-34.6% | $1.7B-17.8% | $2.07B+18.2% | $1.75B+67.0% | |
| Forestar Group | $1.35B-2.7% | $1.39B+1.6% | $1.37B-5.0% | $1.44B+3.1% | $1.4B+3.7% | |
| HomeBuildingOps | $7.62B+7.0% | $7.12B-2.3% | $7.29B— | —— | —— | |
| Line of Credit Facility, Current Borrowing Capacity by Business | ||||||
| Financial Services | $1.4B0.0% | $1.4B0.0% | $1.4B0.0% | $1.4B-12.5% | $1.6B0.0% | |
| Forestar Group | $715M+7.5% | $665M+3.9% | $640M— | —— | —— | |
| HomeBuildingOps | $3.3B+43.0% | $2.31B— | —— | —— | —— | |
| Line of Credit Facility, Maximum Borrowing Capacity by Business | ||||||
| Financial Services | $2B0.0% | $2B0.0% | $2B0.0% | $2B0.0% | $2B0.0% | |
| Forestar Group | $1B0.0% | $1B0.0% | $1B— | —— | —— | |
| HomeBuildingOps | $4B+33.3% | $3B— | —— | —— | —— | |
| Interest Costs Incurred by Business | ||||||
| Financial Services | $4.2M-12.5% | $4.8M-40.7% | $8.1M-21.4% | $10.3M+39.2% | $7.4M-8.6% | |
| Forestar Group | $12.4M-0.8% | $12.5M-5.3% | $13.2M-1.5% | $13.4M+26.4% | $10.6M+27.7% | |
| Authorized Repurchase Of Debt Securities by Business | ||||||
| Forestar Group | $30M0.0% | $30M0.0% | $30M— | —— | —— | |
| HomeBuildingOps | $500M0.0% | $500M— | —— | —— | —— | |
| Borrowings outstanding on revolving credit facility by Business | ||||||
| Forestar Group | $0— | $0— | $0— | —— | —— | |
| HomeBuildingOps | $250M— | $0— | $0— | —— | —— | |
| Debt Instrument, Interest Rate, Stated Percentage by Business | ||||||
| Forestar Group | 6.5%0.0pp | 6.5%0.0pp | 6.5%— | —— | —— | |
| HomeBuildingOps | 5.5%0.0pp | 5.5%— | —— | —— | —— | |
| Debt Repurchase Authorization Remaining by Business | ||||||
| Forestar Group | $30M0.0% | $30M0.0% | $30M— | —— | —— | |
| HomeBuildingOps | $500M0.0% | $500M— | —— | —— | —— | |
| Letters of Credit Outstanding, Amount by Business | ||||||
| Forestar Group | $42.9M-25.3% | $57.4M+12.3% | $51.1M— | —— | —— | |
| HomeBuildingOps | $219.8M-2.0% | $224.4M— | —— | —— | —— | |
| Letters of credit, sublimit borrowing capacity, as a percentage by Business | ||||||
| Forestar Group | 50%0.0pp | 50%0.0pp | 50%— | —— | —— | |
| HomeBuildingOps | 100%0.0pp | 100%— | —— | —— | —— | |
| Line of Credit Facility, Remaining Borrowing Capacity by Business | ||||||
| Forestar Group | $672.1M+10.6% | $607.6M+3.2% | $588.9M— | —— | —— | |
| HomeBuildingOps | $2.83B+35.8% | $2.08B— | —— | —— | —— | |
| Number of housing construction markets by Business | ||||||
| Forestar Group | 640.0% | 640.0% | 640.0% | 64-1.5% | 65+4.8% | |
| HomeBuildingOps | 1260.0% | 1260.0% | 126— | —— | —— | |
| Number of housing construction states by Business | ||||||
| Forestar Group | 2,400%+100pp | 2,300%0.0pp | 2,300%0.0pp | 2,300%-100pp | 2,400%0.0pp | |
| HomeBuildingOps | 3,600%0.0pp | 3,600%0.0pp | 3,600%— | —— | —— | |
| Unamortized Debt Issuance Expense by Business | ||||||
| Forestar Group | $6.5M-4.4% | $6.8M-5.6% | $7.2M-5.3% | $7.6M-5.0% | $8M+158% | |
| HomeBuildingOps | $17.2M-5.0% | $18.1M-4.2% | $18.9M— | —— | —— | |
| Home sales by Product | ||||||
| Financial Services | $192.8M+4.4% | $184.6M-15.4% | $218.2M-4.2% | $227.8M+7.0% | $212.9M+16.8% | |
| HomeBuildingOps | $7.05B+8.2% | $6.51B— | —— | —— | $7.18B+0.5% | |
| Land | $108M+34.8% | $80.1M-27.2% | $110.1M+95.9% | $56.2M-45.8% | $103.6M+54.9% | |
| Cost of Product and Service Sold by Product | ||||||
| HomeBuildingOps | $5.57B+8.5% | $5.13B— | —— | —— | $5.56B+1.8% | |
| Land | $75M+26.9% | $59.1M-23.5% | $77.3M+104% | $37.9M-32.4% | $56.1M+47.2% | |
| Revenue by Geography | ||||||
| East | $1.38B+10.5% | $1.25B-30.3% | $1.79B+7.6% | $1.67B+22.7% | $1.36B+3.5% | |
| North | $1.04B+4.7% | $989.5M-13.3% | $1.14B-2.1% | $1.17B+19.7% | $974.3M+3.4% | |
| Northwest | $539.7M-1.3% | $546.7M-31.1% | $793.7M+13.6% | $698.9M+5.8% | $660.4M+23.9% | |
| South Central | $1.51B+8.8% | $1.39B-28.4% | $1.94B0.0% | $1.94B+26.8% | $1.53B+2.9% | |
| Southwest | $1.04B+15.7% | $894.7M-26.0% | $1.21B+2.3% | $1.18B+11.2% | $1.06B-6.7% | |
| Other Nonoperating Income (Expense) by Geography | ||||||
| East | $2M-39.4% | $3.3M— | —— | —— | $2.8M-50.9% | |
| North | $1.7M-39.3% | $2.8M— | —— | —— | $2.3M-46.5% | |
| Northwest | $900K-35.7% | $1.4M— | —— | —— | $1.6M-38.5% | |
| South Central | $2M-31.0% | $2.9M— | —— | —— | $3.4M-52.8% | |
| Southwest | $1.8M-33.3% | $2.7M— | —— | —— | $2.8M-31.7% | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest by Geography | ||||||
| East | 13,480,000,000%+1,130,000,000pp | 12,350,000,000%-11,390,000,000pp | 23,740,000,000%+700,000,000pp | 23,040,000,000%+5,860,000,000pp | 17,180,000,000%-2,260,000,000pp | |
| North | 12,260,000,000%+270,000,000pp | 11,990,000,000%-3,540,000,000pp | 15,530,000,000%-1,670,000,000pp | 17,200,000,000%+4,550,000,000pp | 12,650,000,000%-330,000,000pp | |
| Northwest | 5,460,000,000%-470,000,000pp | 5,930,000,000%-5,010,000,000pp | 10,940,000,000%-700,000,000pp | 11,640,000,000%+2,270,000,000pp | 9,370,000,000%+1,750,000,000pp | |
| South Central | 16,630,000,000%-710,000,000pp | 17,340,000,000%-7,130,000,000pp | 24,470,000,000%-4,550,000,000pp | 29,020,000,000%+8,180,000,000pp | 20,840,000,000%-1,290,000,000pp | |
| Southwest | 11,420,000,000%+2,560,000,000pp | 8,860,000,000%+1,590,000,000pp | 7,270,000,000%-8,000,000,000pp | 15,270,000,000%+2,940,000,000pp | 12,330,000,000%-4,510,000,000pp | |
| Cost of Sales by Geography | ||||||
| East | $1.12B+11.7% | $999.3M— | —— | —— | $1.06B+6.3% | |
| North | $819.8M+5.1% | $780.2M— | —— | —— | $757.2M+3.6% | |
| Northwest | $432.3M-0.9% | $436.4M— | —— | —— | $511.1M+25.5% | |
| South Central | $1.21B+11.4% | $1.09B— | —— | —— | $1.2B+5.0% | |
| Southwest | $834.7M+15.1% | $725.1M— | —— | —— | $851.1M-3.8% | |
| Inventory, Real Estate by Geography | ||||||
| Corporate, Non-Segment | $359.3M+4.9% | $342.6M+4.7% | $327.2M+6.2% | $308.1M+6.0% | $290.7M+2.5% | |
| East | $4.6B+3.2% | $4.46B+1.4% | $4.4B-4.4% | $4.6B+2.9% | $4.47B+4.3% | |
| North | $2.78B+3.3% | $2.69B+2.1% | $2.64B0.0% | $2.64B-0.3% | $2.65B-1.9% | |
| Northwest | $1.95B+3.8% | $1.88B-0.9% | $1.89B-1.9% | $1.93B-0.5% | $1.94B-0.4% | |
| South Central | $4.03B+5.3% | $3.83B-2.6% | $3.93B-6.7% | $4.21B+3.2% | $4.08B+4.1% | |
| Southwest | $3.06B+0.5% | $3.04B-0.9% | $3.07B-4.9% | $3.23B+0.8% | $3.2B+0.4% | |
| Inventory and land option charges by Geography | ||||||
| East | $1.9M-60.4% | $4.8M— | —— | —— | $8M+196% | |
| North | $1.2M+20.0% | $1M— | —— | —— | $1.2M-20.0% | |
| Northwest | $500K+400% | $100K— | —— | —— | $2.6M+550% | |
| South Central | $14.1M+729% | $1.7M— | —— | —— | $4.4M+267% | |
| Southwest | $3.4M+386% | $700K— | —— | —— | $5.9M+1,375% | |
| Selling, General and Administrative Expense by Geography | ||||||
| East | $132.8M+1.4% | $131M— | —— | —— | $127M+1.5% | |
| North | $95.5M+3.6% | $92.2M— | —— | —— | $92.9M+7.4% | |
| Northwest | $53.7M+2.5% | $52.4M— | —— | —— | $57.2M+9.0% | |
| South Central | $137.4M+3.1% | $133.3M— | —— | —— | $128.2M-3.0% | |
| Southwest | $88.1M+5.3% | $83.7M— | —— | —— | $92.1M+1.2% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does D.R. Horton break its business down?
- D.R. Horton (DHI) reports revenue by business across 4 parts — Eliminations and Other, Financial Services, Forestar Group and HomeBuildingOps. Each is extracted from the segment footnotes and tracked over time.
- Where does D.R. Horton's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in D.R. Horton's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
